Mumbai: The Securities and Exchange Board of India (Sebi) plans to impose a limit on the minimum market capitalization for companies to remain listed in an effort to weed out so-called penny stocks, said two people aware of the development, including an official with the regulator.

Sebi is considering a free-float market capitalization of Rs10 crore for companies to remain listed, these people said. Free-float market cap is the value of publicly traded shares.

The BSE Sensex hit new life-time intra day high of 34,565.63 in opening sessionon Wednesday extending its record-setting spree for a fourth session on buying by domestic investors ahead of quarterly results by bluechips.

The 30-share index rose by 122.44 points, or 0.35 %, to hit a new peak of 34,565.63, surpassing its previous record (intra-session) of 34,488.03 points hit on Tuesday.

ICICI Bank on Tuesday raised interest rates on deposits of over Rs 1 crore by between 5 and 35 basis points (bps). Rates on bulk deposits maturing between 30 days and 45 days were raised by 25 bps to 5.75%, while those on deposits maturing between 46 days and 60 days were raised by a similar amount to 6.25%. Bulk deposits maturing between 61 days and 90 days will now earn 10 bps higher at 6.25%. Rates on deposits maturing between 91 days and 184 days were raised by 35 bps to 6.65%.

Microsoft Corp said on Tuesday that software patches released to guard against microchip security threats slowed down some personal computers and servers, with systems running on older Intel Corp processors seeing a noticeable decrease in performance. The comments in a blog post were the clearest signal from Microsoft that the microchip flaws for Intel and other chipmakers described last week could meaningfully degrade performance.

The Core Group of Secretaries on Disinvestment (CGD) headed by the Cabinet secretary has approved the broad contours of Oil and Natural Gas Corporation’s proposed acquisition of the government’s 51.11% stake in Hindustan Petroleum Corporation, paving the way for the transaction later this month, sources said. The deal would boost non-tax revenues of the Centre considerably as proceeds from disinvestment alone would be about Rs 1 lakh crore as against the Budget target of Rs 72,500 crore this year.

WASHINGTON: US President Donald Trump will attend the World Economic Forum in Davos later this month, opening up a distinct possibility of a meeting with Prime Minister Narendra Modi.

This would be for the first time in 18 years that a US president would be addressing the World Economic Forum - which is an annual gathering of global economic leaders.

HYDERABAD: State Bank of IndiaBSE 0.18 % (SBIBSE 0.18 %) has moved the National Company Law Tribunal (NCLT) against independent power producer East Coast Energy Pvt Ltd (ECEPL), which suffered project execution delays owing to funds constraints.

The Andhra Pradesh-based power producer had defaulted loans of over Rs 5,000 crore to many lenders led by Power Finance Corporation (PFC), which is also said to be preparing to move the Tribunal with an insolvency petition.

In a bid to woo business class passengers on its international flights Air India is considering providing laptops to its premium travellers, its Chairman and Managing Director Pradeep Singh Kharola said on Monday.

The move is geared towards improving the airline's passenger load factor or seat occupancy in business class which often sees almost half the seats going empty.

Coal India (CIL) has raised non-coking coal prices by an average of nine per cent to stave off the impact of increasing wages of around 0.3 million employees.

This is expected to cover the increased expenses, while providing the company headroom to step up capital expenditure for mining operations. CIL’s annual expenses increased by an estimated Rs 64 billion after it decided to revise wages for executive and non-executive employees.

Infosys on Tuesday has signed an Advance Pricing Agreement (APA) with the US Internal Revenue Service (IRS), reducing its tax burden in the US by one percentage point till 2021 and giving clarity on tax obligations in the country.

Under the APA, Infosys and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company’s US operations.

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