Market watchdog Sebi will come down heavily on illicit 'initial coin offers' seeking public investments with promise of high returns from Bitcoins and other virtual currencies, amid a mushrooming of such schemes in the absence of any regulatory regime.

Mumbai: India’s benchmark indices rallied on Friday after most exit polls suggested a clear victory for the Bharatiya Janata Party (BJP) in both Himachal Pradesh and Gujarat elections.

The Sensex ended at 33,462.97 points, up 216.27 points or 0.65%, while the 50-share Nifty index was up 81.15 points or 0.79% closing at 10,333.25 points.

Prime Minister Narendra Modi today announced Rs 90,000 crore for improving roads and national highways in the Northeast in the next two to three years to facilitate better connectivity.

The prime minister dedicated to the nation a 271-km two- lane national highway connecting Tura in western Meghalaya and Shillong.

Union Minister of State for Civil Aviation Jayant Sinha today urged Indian entrepreneurs to develop products and services that will solve "the problems of our very own".

India must create its own success stories on the lines of global giants such as Google, Alibaba or Tencent, he said.

In a bid to plug gaps, the all-powerful Goods and Services Tax (GST) Council on Saturday decided to implement the e-Way Bill mechanism throughout the country by June 1 after reviewing the readiness of the IT network.

Under the e-Way Bill system, goods worth more than Rs 50,000 have to be pre-registered online before they can be moved from one state to another.

Former Jharkhand chief minister Madhu Koda and ex-coal secretary H C Gupta were today sentenced to three years imprisonment by a special court here in a case of coal block allocation scam.

Besides the jail term, the special court also imposed a fine of Rs 25 lakh on Koda and Rs one lakh on Gupta.

Rahul Gandhi today took charge as the president of Congress in the presence of the 132-year-old party's top brass and his family members.

The Congress' central election authority (CEA) handed him over the certificate of his elevation to the top post during a grand event held at the lawns of the All India Congress Committee (AICC) headquarters here.

We attended L&T Infotech’s (LTI) Analyst Day, and reiterate our positive hypothesis. LTI’s growth will be driven by (1) Scalability of its strong client portfolio (54 from Fortune-500, with addressability of $54 billion across verticals), (2) New wins, with addition of 65 new logos (digital and enterprise solutions-led), (3) High client penetration in digital services (32% of rev), with an increasing deal size (>$1 mn accounts expected to increase to 120 in a year from 99 currently), (4) Investments to augment S&M and leadership in Europe, (5) Acquisitions supplementing capabilities (‘Augment IQ’ for IPs and Syncordis for core banking).

Private equity fund Carlyle, through one of its arms, has completed the buyout of GE Capital’s stakes in its two credit card joint ventures (JVs) with State Bank of India (SBI), the lender told stock exchanges on Friday. The PE player will hold a 26% stake in each of the two JVs — SBI Cards & Payments Services and GE Capital Business Process Management Services — both of which come under the SBI Card umbrella.

Reliance Communications (RCom) and China Development Bank (CDB) on Friday approached the National Company Law Tribunal (NCLT) in Mumbai for an adjournment of the latter’s insolvency petition till next month, amid talks they have begun negotiations for an out-of-court settlement.

CDB, which had lent $1.78 billion to RCom, had filed the petition under the Insolvency and Bankruptcy Code (IBC) on November 27, after the company defaulted on its dues.

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