India News

RCom hits record low as deal with Aircel called off

Reliance Communications (RCom) hit a record low of Rs 17.45, down 9% on BSE in early morning trade, after the company said that it has called off its merger with Aircel, owned by Maxis of Malaysia. The stock surpassed its previous low of Rs 17.80 touched on June 14, 2017 on BSE in intra-day trade.

“Legal and regulatory uncertainties, and various interventions by vested interests, have caused inordinate delays in receipt of relevant approvals for the proposed transaction,” RCom said in a statement.

Nissan to recall all 1.2 million new cars sold in Japan in last three years

Nissan Motor Co Ltd will recall all 1.2 million new passenger cars it sold in Japan over the past three years after discovering final vehicle inspections were not performed by authorised technicians, it said on Monday.

The recall is the second major misconduct incident involving a Japanese automaker in as many years, after Mitsubishi Motors Corp admitted in April 2016 it had falsified the fuel economy for some of its domestic market models.

SBI Life Insurance lists at 5% premium to IPO price of Rs 700

SBI Life Insurance Company made a quite debut by listing at Rs 735, a 5% premium against its initial public offer (IPO) price of Rs 700 per share on the National Stock Exchange (NSE).

At 10:02 AM; the stock was trading at Rs 734 on the NSE. It hit a high of Rs 740 and low of Rs 730 so far. A combined 11.5 million shares exchanged hands on the NSE and BSE.

Tata Motors surges 7% on strong September domestic sales

Tata Motors surged 7% to Rs 428 on BSE in early morning trade after the company reported a strong 25% increase in domestic sales at 53,965 units in September. The company had sold 43,031 units in September 2016. The stock recorded its sharpest intra-day gain since November 8, 2016, when it rose 6.9% in intra-day trade.

“This is at the back of growing festive demand across segments, increased positive customer sentiments, introduction of new products and strong customer engagement initiatives,” Tata Motors said in a statement.

SBI Life Insurance to make stock market debut on Tuesday

New Delhi: SBI Life Insurance Co. Ltd, which recently completed its initial share sale offer, will make its stock market debut on Tuesday.

The company’s Rs8,400 crore initial public offering (IPO) was subscribed 3.57 times on 22 September. The portion meant for qualified institutional buyers was oversubscribed 12.56 times, while that of non-institutional investors received 70% subscriptions and retail investors 85%, data available with the NSE showed.

Nasa delays launch of James Webb Space Telescope to 2019

Washington: Nasa has pushed the planned launch of its $8.8 billion James Webb Space Telescope from October 2018 to the spring of 2019, citing spacecraft-integration issues.

The successor to the famed Hubble Space Telescope, Webb will now launch between March and June 2019 from French Guiana, following a schedule assessment of the remaining integration and test activities, Nasa said.

Tech Mahindra, Power Ledger to test MaaS-based electricity solution

NEW DELHI: IT firm Tech Mahindra, in collaboration with electricity trade platform provider Power Ledger, on Friday announced a series of trials to develop a new mechanism of electricity production through 'Microgrid-as-a-Service' (MaaS).

MaaS is an integrated platform incubated by Tech Mahindra to create a new model in the electricity market which will enable building owners, campuses, Smart Cities and other communities to produce and manage their own electricity affordably and even trade in case of excess generation.