The eight consortium accounts that were classified as non-performing assets by Axis Bank last week after a directive from the Reserve Bank of India will have to be classified as NPAs by the other lenders who are part of the consortium, bankers said. The banking sector’s exposure to these accounts would be close to Rs 40,000 crores, Axis Bank told analysts at its recently-held second quarter post-earning call. “The other banks will definitely have to treat them as NPA since these are consortium accounts,” a senior banker with a state-run lender said.

MUMBAI | NEW DELHI: The undisputed leader in India’s compact-car space is now gunning for a bigger prize – the pole position in India’s fast-growing and high-margin utility-vehicles segment.

Maruti SuzukiBSE 1.16 %, the biggest success story for Japanese carmaker Suzuki Motor Corp beyond its home base, is likely to have a portfolio of more than half a dozen utility vehicles and crossovers with three new offerings lined up in the next four years.

Coal India plans to rationalise supply sources for private power producers to reduce the distance over which coal is carried in an effort to cut transport and generation costs. The state-run monopoly will soon invite private generators to participate in the scheme.

A similar exercise was undertaken for state-run power units two years ago, aiming to reduce costs by almost Rs 6,000 crore by feeding each plant with coal from the closest mine instead of transporting it over long distances.

Reliance Communications has received the approval from Department of Telecommunications (DoT) for the merger of wireless business of Sistema Shyam Teleservices Ltd (SSTL) with itself.

RCom will acquire about two million customers of Sistema Shyam, which operates under the brand name MTS, and additional annual revenues of around Rs 700 crore, the company said in a notice to the BSE.

Key indices on Tuesday opened on a positive note as investors widened their positions ahead of quarterly earnings from some bluechip companies amid positive Asian cues.

Japan’s Nikkei posted the longest winning-streak in its nearly 70-year history as markets cheered election victory of Japanese prime minister Shinzo Abe. Tokyo’s benchmark index rose 1.11% ending at 21696.65.

Oil and Natural Gas Corporation (ONGC) gained 3% to hit over four-month high of Rs 177 on the BSE in early morning trade on heavy volumes. The stock is trading at its highest level since June 5, 2017.

In the first 10 minutes of trade, a combined 2.62 million shares have already changed hands on the counter, as against an average 4.8 million shares that were traded daily in past two weeks on the BSE and NSE.

Capital markets regulator Sebi on Monday disposed of proceedings against Prannoy Roy, Radhika Roy and RRPR Holdings Pvt Ltd in a case related to alleged delay in disclosure about their aggregate shareholding in NDTV.

The three are among the promoters of NDTV, and the case relates to their alleged delay in disclosing their aggregate shareholding and voting rights in the company after the end of the 2011-12 fiscal year. Under Sebi norms, promoter entities are required to make disclosures regarding the aggregate shareholding and voting rights as of March 31 within seven working days from the end of each financial year to stock exchanges concerned.

Reliance Industries shares hit an all-new lifetime high on Monday and were the biggest contributor in lifting the key benchmark indices to close higher. The market capitalisation of the Indian stock market leader Reliance Industries is just Rs 6,000 crore from hitting the figure of Rs 6 lakh crore. As per today’s close, it stood at Rs 5.94 lakh crore as per today’s close of Rs 938.1 on BSE while it was Rs 5.95 lakh crore. The stock of RIL hit a fresh all-time high today rising by 3.64% to Rs 943.45 before closing up 3.05% at Rs 938.1. In the intraday trade, its market capitalisation topped Rs 5.97 lakh crore on BSE.

State-run power equipment maker BHEL on Monday said it has commenced execution of Rs 20,400-crore Yadadri supercritical thermal power project ordered by the Telangana State Power Generation Corporation.

"The execution of the 4,000 MW Yadadri Supercritical Thermal Power Project ordered on Bharat Heavy Electricals Limited (BHEL) by Telangana State Power Generation Corporation Limited (TSGENCO) has commenced with the issuance of revised Letter of Intent by TSGENCO," BHEL said in a regulatory filing.

Rejecting Nalco's claim that three units of the PSU's captive power plants were shut due to fuel shortage, the coal ministry on Monday said there is ample dispatch of coal to the PSU which has a regular supply of 4.7 MTPA dry fuel, more than the committed quantity by Coal India.

"It is stated that contrary to the recent media news, attributing the closure of three units of Nalco's captive power plant due to a shortage of coal leading to curtailment of aluminium production, the ground reality is totally different," the Coal Ministry said in a statement.

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.