Bajaj Auto on Friday announced the launch of 160cc Pulsar NS160 in the country, priced at Rs 80,648 (ex-showroom, Mumbai).

The new generation Pulsar NS 160 caters to the fast- growing segment of customers who seek premium quality, international style and performance, Bajaj Auto said in a statement.

Mumbai: As rising bad loans from distressed companies keep bankers and the government on their toes, Sebi chairman Ajay Tyagi on Thursday cautioned mutual fund managers from adding bad debts to their portfolio. Tyagi said that in addition to the ratings assigned by credit agencies, fund houses should also do their own due diligence on companies before buying their debt papers.

The warning from the chief regulator came for the MF industry that manages over Rs 13 lakh crore worth of debt portfolio, within days after Sebi board decided to tighten regulations for credit rating agencies.

MUMBAI: The rupee lost 10 paise to a fresh one-month low of 64.73 against the dollar in early session on Friday, with a decidedly lower start in stocks casting a shadow.

The American unit found greater traction among importers and banks.

At a time when the ministry of petroleum and natural g4as is exploring ways to start home delivery of petroleum products such as diesel and petrol, Reliance Industries (RIL) is looking to enter the segment as well. According to three people close to development who requested not to be named, RIL has applied for a licence to home-deliver motor fuel to the Petroleum and Explosives Safety Organisation (PESO). However, though the company has been allowed to use bowsers to transport fuel to its mobile phone towers, it has not been granted licence for fuel home delivery as of now. Reliance operates a mobile phone network under the brand Jio.

Private equity player Premji Invest is set to buy a 2.2% stake in Aditya Birla Capital for Rs 704 crore, the holding company of the financial services businesses of Aditya Birla group said in a release on Thursday. This is as per a definitive share subscription agreement (SSA) the company has entered into with Premji Invest’s PI Opportunities Fund – 1. The proposed transaction values Aditya Birla Capital at Rs 32,000 crore.

Axis Bank on Thursday said the bank has exposure to eight of the 12 accounts mandated by the Reserve Bank of India (RBI) to be sent to the National Company Law Tribunal. In a regulatory filing, the bank said while its total fund-based outstanding on the eight accounts stood at Rs 5,071 crore and non-fund based outstanding was at Rs 212 crore, around 80% of the outstanding was secured. “Against this outstanding, the provision held was Rs 2,497 crore,” it said.

InterGlobe Aviation, which runs the low-cost carrier IndiGo, has expressed an interest in acquiring the loss-making Air India. Civil aviation secretary RN Choubey said on Thursday that the company has written a letter to the ministry. The Cabinet had on Thursday has given an in-principle nod to the disinvestment of Air India. The final modalities of the divestment, including the quantum of stake sale, would be formalised by a group of ministers headed by finance minister Arun Jaitley.

MUMBAI: Essar Steel’s insolvency proceedings could turn into a test case for India’s bankruptcy framework with lenders differing on the choice of the so-called interim resolution professional (IRP), the entity that will oversee the exercise, according to two people with knowledge of with the matter. One of these is an unsecured lender and has apparently broken with the other banks and opted to pursue its case separately.

NEW DELHI: The troubles for Anil Ambani's telecom venture -Reliance Communications (RCom) -appear to be compounding. The loss-making company, which had earlier sought deferment in debt servicing obligations from banks, has approached the telecom ministry to surrender a part of its spectrum holdings in the 1,800-MHz frequency, sources said.

The company has also sought a refund of some of the payments, which have been made, the sources added.

The Sensex fell over 154 points and the Nifty went below 9,500 in the beginning on Friday as the July derivative series took off on a negative note amid anxiety ahead of GST rollout. Capital outflow by foreign funds and weak global shares only added to concerns.

Investors kept their fingers crossed ahead of the landmark tax reform Goods and Services Tax (GST), which is set for a mid-night launch on Friday.

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