Hong Kong: Reliance Communications Ltd (RCom) which defaulted on dollar bonds last week in the highest-profile debt failure since India’s new bankruptcy code was passed, faces risks of insolvency if it can’t sell its assets at high enough valuations, according to SC Lowy Financial HK Ltd.

“We think the valuations they have provided are optimistic,” said Mihir Chandra, head analyst at the distressed loan and bond trading firm. “If they can’t sell assets at the valuations that they’ve guided to, then the more likely outcome is an insolvency process.”

Global brokerage firm Nomura remains bullish on the shares of Maruti Suzuki, after India’s largest car-maker signed a pact to with Toyota Motor Corporation to roll out electric cars in India. On Friday, the Japanese car-maker entered into an in-principle agreement with Maruti Suzuki to consider a joint structure for the introduction of electric cars in India in 2020. The Indian car-manufacturer’s parent Suzuki said in a statement, “ Suzuki will manufacture electric cars for India and supply some units to Toyota,” adding that Toyota will also provide technical support.

Yes Bank and IndusInd Bank stocks opened higher on Monday and further extended the gains on news of inclusion in the 30-share benchmark index — Sensex. The private sector lenders Yes Bank and IndusInd Bank will enter in the BSE Sensex with effect from 18 December 2017. Following the inclusion of Yes Bank and IndusInd Bank, two pharma sector stocks, Cipla and Lupin, will be removed from the index.

Oil to telecom conglomerate Reliance IndustriesBSE -0.24 % Ltd (RILBSE -0.24 %) is looking to raise $800 million through a 10-year bond sale making it the first company to take advantage of India's rating upgrade last week.

The company kickstarted the sale earlier this morning as it seeks to refinance the perpetual bonds it sold in 2013.

BENGALURU: Wipro’s business process management services business is generating close to $1 billion a year in revenue, ahead of the company’s 2020 target, and has shown double-digit growth in the last two years, the head of that unit told ET.

The Bengaluru-headquartered IT services company had put in place a strategy to grow its operations management business in 2015. The target set was reaching $1 billion in revenue by 2020, 40% of which was expected to come from business-process-as-a-service (BPaaS).

TVS Motor Company, India’s fourth-largest two-wheeler maker, is banking on rural buying in south India to sustain its double-digit growth momentum and plans to invest Rs 600 crore to expand its product range and distribution network.

Demand for the brand remains strong, the company said, with retail volumes growing over 20% during Dusshera and Diwali and the momentum is expected to continue. TVS Motor’s two-wheeler sales grew 14% in the first half of the financial year, exceeding the market rate.

Key indices on Monday opened on colourless note amid weak Asian cues.

At 9:53 AM, Sensex was trading 24.53 points at 33,369.61 and the 50-share NSE index Nifty was down 2.65 points at 10,280.10.

Among the top gainers were Biocon whose stakes rose 5.2% to Rs414.70 after the company said it got clean chit from the US FDA for Bengaluru unit.

AM Naik, the non-executive chairman of the country's largest construction and engineering firm L&T, has recalled in his biography how he thwarted hostile takeover bids from the Ambanis and Birlas in early 2000s when the company had almost slipped from his hands.

Speaking at the launch of his biography titled 'The Nationalist', authored by columnist Minhaz Merchant, here last evening, Anil M Naik also reminisced about the historic three-phased demerger of Larsen & Toubro (L&T),

India’s state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi’s goal of making the fuel a bigger part of the country’s energy mix.

State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15 per cent of their incomes over the next few years, up from nearly none now, company executives said.

New Delhi: India’s second largest IT company Infosys on Friday said its Rs13,000 crore buyback offer will open on 30 November and end on 14 December.

Outlining the buyback dates in a regulatory filing, Infosys said that the company through letter dated 16 November received observations from the Securities and Exchange Board of India (Sebi) on the draft letter of offer for the buyback.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.