The Indian Oil Corporation (IOC) has developed refining processes that may help it save at least $1.5 billion in costs as well as challenge global giants in the technology-leasing business. The state-run company, which controls nearly half of the country’s refineries, has created its own processes using catalysts and hydro-cracking to convert crude oil into fuels such as gasoline, diesel and liquefied petroleum gas, according to the company’s head of research & development. That means it won’t have to license technology anymore from the likes of major manufacturing companies such as Honeywell International.

Yes Bank Ltd on Tuesday acquired more than 17 percent stake in Fortis Healthcare Ltd post invocation of pledge on the equity shares subsequent to default by the promoters group companies. 89,781,906 equity shares were acquired i.e. 17.31 percent of the paid up share capital of Fortis Healthcare Ltd, having nominal value of Rs 10 per share, Yes Bank said in a regulatory filing to exchanges.

A leading global payments and technology company will provide its Indian customers cutting edge innovations to help them tackle rapidly growing online frauds, a top company official has said. Mastercard’s Executive Vice President for Asia Pacific Rama Sridhar said artificial intelligence, biometric, authentication were among other risk-assessing and managing solutions being used to tackle frauds across the globe including in India.

Two-wheeler major TVS Motor expects sales of its Apache series of motorcycles to hit 500,000 units at the end of this fiscal. This would translate into a 25 per cent growth in volume sales over the previous year. The company launched its new Apache RTR 160 4v on Wednesday.

"This (premium motorcycle) industry is growing very fast. We are estimating to sell 500,000 units in the Apache series, which is a growth of around 25 per cent," said K N Radhakrishnan, president and chief executive officer, TVS Motor Company.

Markets regulator Sebi is considering linking retail investors' exposure to derivatives with their income, a move aimed at preventing them from taking unreasonable positions in risky instruments.

The issue is expected to be discussed at the board meeting of the Securities and Exchange Board of India (Sebi) this month, officials said.

Even as HDFC Bank, India's largest bank by market capitalisation, banned its customers from using debit, credit and prepaid cards to purchase cryptocurrencies such as Bitcoin, stakeholders in the crypto universe are not unduly bothered by the move.

In an email sent out to customers on March 13, the bank noted that "the Reserve Bank of India has also cautioned the public regarding the potential economic, operational, legal and security related risks associated in dealing with such currencies".

Mumbai: Domestic carrier IndiGo continued to operate with a curtailed schedule for the third day on Wednesday with the airline cancelling 42 flights following the grounding of eight of its A320neo planes along with three of GoAir due to Pratt & Whitney engine issues.

The benchmark BSE Sensex drifted 150 points lower and the NSE Nifty slipped below the 10,400-mark in early deals on selling in metal, PSU and realty counters amid weak global cues.

Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade.

In a push to increase the share of green energy in its installed capacity, NTPC has recently come up with tenders for 4,750 MW of renewable power projects. Of this, 2,000 MW are for wind power projects, while the remaining capacity would be solar based. The projects would significantly enhance the largest thermal power producer’s renewable energy portfolio, which now has 870 MW of solar and 50 MW of wind power projects.

Mumbai: Micro, small and medium enterprises (MSMEs) that have current accounts with ICICI Bank can now avail of automated loans in the form of an instant overdraft facility of up to Rs 10 lakh each year. The ‘InstaOD’ will enable a few lakh pre-qualified customers, who have held a current account for at least a year, to instantly get the loan without visiting a branch or submitting physical documents.

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