Axis Bank’s proposed Rs 5,000-crore debt sale could be priced at a coupon of 7.66%, three sources familiar with the placement said on Wednesday. The tenure of the securities is likely to be 10 years, and the issuance may take place by the end of this week. Ratings agency Crisil has assigned its ‘CRISIL AAA/Stable’ rating to the Rs 5,000-crore Tier-II bonds (under Basel III) of the bank. It has reaffirmed its ratings on the bank’s existing debt instruments at ‘CRISIL AAA/CRISIL AA+1/Stable/CRISIL A1+’. “The overall ratings reflect Axis Bank’s strong capitalisation, healthy resource profile, and comfortable earnings.

Researchers at Maluuba, a deep-learning startup recently acquired by Microsoft, have developed an artificial intelligence (AI) system that became the first player ever to achieve a perfect 999,990 score in Ms Pac-Man — an arcade video game. The feat is notable because when Ms Pac-Man was developed in the eighties, it was programmed to be less predictable than the original Pac-Man, so that it would be tougher for players to beat it. As opposed to developing a single intelligent agent to learn the game, the team used a number of simpler intelligent agents to each learn a single aspect of the game.

Competition Commission today imposed a penalty of Rs 87 crore on Hyundai Motor India for unfair business practices with respect to providing discounts for passenger cars. Besides, the company has been directed to cease and desist from such anti-competitive practices. In a 44-page order, the regulator said the company’s anti-competitive conduct include putting in place arrangements that resulted in resale price maintenance by way of monitoring of maximum permissible discount level. This was done through discount control and penalty mechanisms for non-compliance of the discount scheme, it added.

KOLKATA: Top telecom operator Bharti Airtel in April added more active subscribers than Reliance Jio Infocomm for the first time since the latter's launch in September, said analysts who cautioned that the 4G entrant may continue to face challenges in user additions.

The Sunil Mittal telco notched up 2.6 million active subscribers, according to visitor location register or VLR, in April compared to Mukesh Ambani-owned Jio's 400,000 active (VLR) customer adds, said brokerage Goldman Sachs, analysing Telecom Regulatory Authority of India data. Visitor location register is a key metric indicating the number of subscribers actively using mobile services.

The Public Works Department (PWD) of the Delhi government has slapped a fine of Rs 27 lakh on the AAP for 'unauthorised occupation' of a bungalow in Rouse Avenue here.

The PWD has issued a notice to AAP national secretary Pankaj Gupta over its continued occupation of 206, Rouse Avenue as party office.

The Securities and Exchange Board of India (Sebi) will complete its investigation into complaints against Financial Technologies India Limited (FTIL, now 63 Moons) and several other entities associated with it by the end of next month.

In an order passed earlier this week, the bench of RM Sawant and Sadhana S Jadhav of the Bombay High Court said that the market regulator has agreed to complete the investigation "latest by 31/07/2017" and submit the findings to the court in the next hearing. The regulator has also submitted another report in a sealed cover to the court in compliance with its directions in December.

State-owned oil firms IOC, BPCL and HPCL on Wednesday signed an agreement to jointly set up India's biggest refinery at Ratnagiri district of Maharashtra at a cost of $30 billion or Rs two lakh crore.

Indian Oil Corp (IOC) will be the lead partner with 50 per cent stake while Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will take 25 per cent stake each.

State-run power giant NTPC has awarded Mine Developer-cum-Operator (MDO) contract for its Dulanga coal mine in Odisha, as part of its plan to produce 3 million tonnes of the dry fuel this fiscal.

NTPC made a debut in coal mining during the last fiscal.

London: A deadly night-time fire raced through a 24-story apartment tower in London early Wednesday, killing at least six people and injuring dozens more. Some desperate residents threw their children from high windows, hoping someone on the ground would catch them.

Police commander Stuart Cundy said there were six confirmed fatalities, adding that the figure was likely to rise “during what will be a complex recovery operation over a number of days.”

With petrol and diesel prices set to change on a daily basis across the entire country from 16 June, oil companies have made provisions for consumers to check the revised rate of fuels through various methods, such as LED screens at petrol pumps, toll-free number, social media posts, price revision alert on app as well as SMS facility.

The state-run oil marketing company Indian Oil Corporation Ltd., (IOC) said that for the convenience of customers, every petrol pump will now have its dealer’s code prominently displayed, to allow consumers to verify prices through SMS.

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