The benchmark indices ended lower after hitting fresh highs at open on Wednesday as Asian shares fell taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress, while higher US Treasury yields underpinned the dollar.

Reliance Communications (RCom) rose as much as 45% in intra-day trade today after the National Company Law Tribunal (NCLT) adjourned the hearing of insolvency petitions filed against Reliance Communicationsto early next month after a group of the telecom operator's lenders sought time to consider converting the company's loans into equity.

The adjourned date comes as a breather for RCom as if the tribunal had accepted the insolvency petitions before December 28, by when the lenders need to decide on converting their RCom debt into equity, the process would have ended.

New Delhi, Dec 20 () Sebi has ordered forensic audit of Pincon Spirit Ltd, which figures in the list of suspected shell companies, to check misuse of funds even as the regulator lifted trading curbs imposed on it.

Trading in the securities of Pincon Spirit will be reverted to the status prior to August 7, when the curbs were imposed, the Securities and Exchange Board of India (Sebi) said in an interim order dated December 19.

Mumbai: The Indian rupee on Wednesday opened marginally higher against US dollar tracking gains in its Asian peers.

The rupee opened at 64.03 a dollar. At 9.15am, the home currency was trading at 64.02 a dollar, up 0.04% from its Tuesday’s close of 64.04.

Stocks made headway on Wednesday as key indices Sensex and Nifty jumped to new peaks on bets that the government would unveil more reforms to boost rural economy.

Asian stocks traded mixed as the final vote on U.S. tax-cut legislation entered a crucial phase.

Bharat Heavy Electricals’ (BHEL) order win of the Udangudi thermal power project vindicates our view of translation of L1 position into order inflow by March 2018. We had highlighted in our recent company update titled ‘Steady against all odds; pace of recovery key’, translation of L1 position in 4 projects into actual order inflow (including Udangudi) by March 2018. BHEL has bagged the Rs 73 billion EPC order from TANGEDCO for setting up the 2×660 mw Udangudi thermal power plant.

India’s most valuable lender HDFC Bank on Wednesday approved a mega-fundraising plan of Rs 24,000 crore to fund its growth. HDFC Bank had grown multifold in recent past as the bank has surpassed age-old financial conglomerate ICICI Bank in terms of assets and market capitalisation and is now is India’s second-biggest lender by assets behind India’s biggest bank State Bank of India. HDFC Bank has said that it would raise up to Rs 24,000 crore to fund its growth by selling shares to domestic and international investors including a preferential issue to its parent company HDFC Ltd.

NEW DELHI: Taking a step ahead in domestic manufacturing of solar equipment, the government has floated a document to gauge the market's interest in setting up 20 GW solar PV manufacturing facility in India in a span of three years.

Solar Energy Corporation of India (SECI) has floated an expression of interest (EoI) document, evincing interest to "invite bids for allocation of project capacities, from prospective solar manufacturers who are willing to set up vertically integrated solar PV module manufacturing facility in India, including ingots, wafers, cells, and modules."

MUMBAI: The Karnataka High Court last week allowed a ship loaded with petroleum products to set sail, averting an energy crisis in Mauritius.

The island nation recently lost a Singapore arbitration award to local shipping company Betamax worth $120 million. Betamax sought to attach the fuel worth nearly $40 million from ONGC's Mangalore refinery meant to be shipped to Mauritius to recover its dues.

Maruti Suzuki India entered the elite league of corporate entities with a market value of over Rs 3-lakh crore after the stock price of the company hit a new high on Wednesday and touched the Rs 10,000 mark on the BSE in early morning trade.

Maruti Suzuki, the country’s largest car maker, was trading at Rs 9,980, with the m-cap of Rs 301,234 crore at 09:20 am; the BSE data shows.

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