State-owned ONGC is likely to sell some of its stake in IOC to institutional investors like LIC to part-fund its over Rs 34,000-crore acquisition of refiner Hindustan Petroleum Corporation Limited (HPCL). Oil and Natural Gas Corporation (ONGC) holds 13.77 per cent stake in India’s biggest refiner Indian Oil Corporation (IOC), which at today’s market price is worth over Rs 27,800 crore. It has another 4.87 per cent stake in GAIL India Ltd worth of Rs 1,600 crore.

India’s fourth-largest private sector lender Kotak Mahindra Bank’s market capitalisation breached 2 lakh crore for the first time ever on Monday. The bank which was in the twelfth place as per the Friday’s closing price of Rs 1,037.15 on BSE just behind India’s largest company by revenue — Indian Oil Corporation — from its eleventh spot. The stock of Kotak Mahindra Bank soared as much as 1.54% to hit the all-time high of Rs 1,053.1 before closing up 1.34% at Rs 1,051 today.

The truck owners and operators called for a 36 hours long strike, started off on Monday against the disruptive policies under the new Goods and Services Tax (GST) regime.

The countrywide protests have been organised by truckers' association All India Motor Transport Congress (AIMTC).

The 2017 Nobel prize in economics has been awarded to American academic Richard Thaler.

Richard Thaler is from the University of Chicago and has been given the prestigious award for his remarkable contributions to behavioural economics.

As Walmart continues to build out its e-commerce business to rival Amazon’s, its latest development will build on some of the retail giant’s most established operations: Walmart is launching a new in-store returns service called Mobile Express Returns.

People who purchase items online and then need to return them can do so by logging them on the Walmart app, generating a QR code for the transaction, and then walking into a physical Walmart store to return or exchange the items quickly.

Mumbai: Reliance Industries Ltd (RIL) on Friday agreed to sell the first of its shale gas ventures—upstream Marcellus shale gas assets in northeastern and central Pennsylvania in the US—for $126 million.

The assets held by Reliance Marcellus II LLC, a unit of Reliance Holding USA Inc. and Reliance Industries Ltd (RIL), were sold to BKV Chelsea LLC, an affiliate of Kalnin Ventures LLC. It is currently operated by Carrizo Oil & Gas, Inc. In 2010, RIL had bought a 60% stake in the assets for $392 million.

New Delhi: Mahindra and Mahindra Ltd is in early talks with its partner Ford Motor Co. to procure a vehicle platform on which the Mumbai-based company aims to build an all new electric sedan, two people with direct knowledge of the matter said.

In lieu of this platform, Mahindra will share its affordable electric vehicle technologies with Ford, which the American company plans to use in its entry-level cars such as Figo and Aspire, these people said on condition of anonymity.

The key equity indices Sensex and Nifty opened marginally higher on Monday and extended the gains following the recent ease in tax slabs under the GST regime on Friday. The government lowered taxes on as many as 27 goods and services in the third GST Council meeting after implementation of Goods and Services. The benchmark Sensex jumped 98 points to breach 31,900-level at 31,912 points while the broader Nifty advanced 26 points to cross the 10,000-mark at 10,006.45 points. BSE Sensex gained 48 points to open at 31,862.2 points and NSE Nifty added 16 points to start at 9,996.3 points.

Kingfisher Airlines case: Now-defunct Kingfisher Airlines understated losses to the extent of Rs 7,151.18 crore for financial years 2008-09 to 2011-12 by tweaking accounting practice, according to Indian Express report. This jhas been found during a probe conducted by the government’s Serious Fraud Investigation Office (SFIO) into the matter, the report says. These were in violation of accounting standards, according to report. Kingfisher has done this to obtain higher bank loans. Notably, some of these loans were used to meet continuing cash losses.

A new era of credit appraisal is dawning on the nation's biggest lender, when it comes to funding small-scale companies. The State Bank of IndiaBSE 0.45 % is now assessing the borrower based on their bank statements instead of the balance sheet.

"We are now evaluating a company's ability to repay the loan based on their cash flow," said a senior SBI executive. "For this, we draw analysis from their bank statement of one year and collaborate it with their balance sheet."

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.