Apollo Hospitals Enterprise has slipped 7% to Rs 1,069, its lowest level since October 23, 2014 on BSE, in an otherwise firm market.

The National Pharmaceutical Pricing Authority (NPPA) on Wednesday fixed the price for primary knee replacement of titanium alloy at Rs 38,740 while the price for revision knee replacement of any material was pegged at Rs 62,770.

Seoul: Hyundai Motor Co. said on Thursday it will launch a long-range electric vehicle with a driving range of 500km (311 miles) per charge after 2021, seeking to address investor concerns that it is lagging rivals in the green car race.

The automaker and affiliate Kia Motors Corp., which together rank fifth in global vehicle sales, also said they are planning 31 eco-friendly models by 2020, up from a previously flagged 28. The new additions include three plug-in hybrid vehicles, which come on top of eight battery-powered cars and two fuel-cell vehicles.

New Delhi: The country’s largest carmaker Maruti Suzuki India (MSI) on Thursday launched a sporty version of its mid-sized sedan Ciaz with petrol variant tagged at Rs9.39 lakh (ex-showroom Delhi).

The diesel smart hybrid trim of the ‘Ciaz S’ version, which comes with all new premium black interiors with grey chrome finishing, is priced at Rs11.55 lakh.

Bengaluru: HDFC Bank on Thursday cut interest rates on most of its savings accounts to 3.5% from 4%.

Customers with savings bank account balance of Rs50 lakh and above will continue to earn interest at 4% per annum, the lender said in a statement.

Mumbai: Engineering major Larsen & Toubro Ltd (L&T) on Wednesday said it has agreed to sell its entire stake in its unlisted unit L&T Cutting Tools Ltd to IMC International Metalworking Companies BV, owned by Berkshire Hathaway Inc., for Rs174 crore.

L&T Cutting Tools, incorporated in 1952, manufactures fabricated metal products.

It was a mixed bag for bad loan recoveries by banks in the June quarter of FY18 over the previous year, data compiled by FE showed. While banks like State Bank of India (SBI), ICICI Bank and Axis Bank have reported higher recoveries, others like Punjab National Bank (PNB), Canara Bank and Union Bank of India have shown a dip in recoveries in Q1. According to the data, SBI reported the highest recovery at Rs 4,646 crore in Q1, among all lenders. SBI chairman Arundhati Bhattacharya recently told reporters that the bank expects resolutions in corporate accounts.

The Cabinet on Wednesday approved a new metro rail policy, making private participation a must for states to get central assistance for new metro rail projects in the country. The policy will focus on innovative models of implementation and financing, as well as standardisation and indigenisation of hardware and software, to create jobs locally, finance minister Arun Jaitley said. “There will be a system-based approach (for sanctions of new projects). Economic internal rate of return (EIRR) should be 14% for approving new metro projects,” Jaitley said.

Coal stocks at some private thermal power plants, which receive the fuel from Central Coalfield Ltd (CCL), have reached precarious levels as CCL is said to be supplying more fuel to NTPC power plants. According to industry sources, this is due to the shutdown of Dhanbad-Chandrapura railway line, which has compelled Bharat Coking Coal Limited (BCCL) to shift 8-10 rakes from its supply to CCL.

While management continued to highlight improvement in inherent processes and sharper business focus, confidence of translation of these efforts to higher return ratios in the near future remains low, with our estimates suggesting an RoE of ~14% only by FY20. Risk of chunky slippages leading to lower NIMs and higher credit costs continues to remain for the next few quarters. Maintain ‘hold’ with a revised PT of Rs 155.

AMSTELVEEN (NETHERLANDS): Ramandeep Singh and Chinglensana Singh Kangujam struck twice to guide the Indian men's hockey team to a sensational 4-3 win over Austria in their final encounter of the Europe Tour here.

Double goals from Ramandeep (25th minute, 32nd) and Chinglensana (37th, 60th) helped India end the tour with three wins and two loses.

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