India’s coal imports in May declined by 6 per cent to 18.15 million tonne (MT), year-on- year due to lacklustre demand from the power sector and sufficient supply of domestic fuel. “Coal import (all type of coals) in May 2017 stood at 18.15 MT (provisional), against 19.38 MT in May 2016,” according to mjunction services, an online procurement and sales platform floated jointly by SAIL and Tata Steel.

Air India’s plans to expand its fleet have hit an air pocket, amid uncertainty after the government’s top policy-making body, NITI Aayog, proposed the total privatisation of the national carrier to the PMO. Decisions approved earlier by the airline’s board regarding aircraft acquisitions are currently “on hold” and tenders for procurement of new planes have been deferred till clarity emerges, an airline source said. In March, the Air India Board of Directors had approved a proposal to induct seven Boeing 787-9 aircraft in its fleet to improve connectivity to Canada, the US and Australia.

The market benchmark Sensex erased initial gains in late morning deals following emergence of selling in sectors like IT, teck, energy, telecom and realty. On the other hand, metal and healthcare stocks witnessed sustained buying. Cautious trade in global markets ahead of the UK elections and testimony from sacked FBI head James Comey on his probe into Donald Trump’s links to Russia also influenced sentiment, brokers said.

Tata Sons, the main promoter of Tata Consultancy Services (TCS), has raked in about Rs 10,278 crore by tendering in 3.61 crore shares in the recently concluded share buyback offer of TCS. The number of shares sold by Tata Sons represents almost two-thirds of the total shares on offer by TCS in the buy back scheme which ended on May 31.

MUMBAI: HDFC Bank has held back and will be reconsidering their decision to charge Unified Payments Interface based transactions, said a spokesperson of the bank on micro blogging site Twitter.

This comes in the wake of the bank getting embroiled in a major controversy two days back, when they sent a mail to its customers saying that all UPI payments will be charged from July 10.

The Monetary Policy Committee (MPC), headed by Reserve Bank of India governor Urjit Patel, has kept the repo rate (the rate at which the central bank lends to banks), unchanged at 6.25% for the fourth straight time. The reverse repo – rate at which RBI borrows – remains the same at 6%. It has reduced the statutory liquidity ratio (SLR) by 50 basis points to 20%, which is expected to boost liquidity in the system and make more 'lendable' resources available for various sectors of the economy, including infrastructure.

Congress vice president Rahul Gandhi was on Thursday detained and then arrested by police when he tried to force his way into Madhya Pradesh with surging crowds of Congress supporters shouting slogans in praise of the farmer.

Hundreds of Congress workers as well as senior leaders like Rajasthan Congress chief Sachin Pilot and Madhya Pradesh legislator Jaiwardhan Singh also courted arrest. They were being taken to a guesthouse of a cement company, a police official said.

PNB Housing Finance rallied 6% to Rs 1,559, extending its previous day’s 6% surge on the BSE, after the Reserve Bank of India (RBI) lowered risk weights assigned to home loans lent on or after June 7.

The stock is trading at its highest level since its listing on November 7, 2016. It has more than doubled against its initial public offer (IPO) price of Rs 775 per share.

Infosys, India’s second-largest information technology (IT) services firm, seems to have dropped its ambitious target of increasing its revenue to $20 billion by 2020, as its Chief Executive Officer (CEO), Vishal Sikka, struggles to grow the business faster.

The company had set itself a long-term goal of $20 billion in revenue, 30 per cent operating margin and $80,000 revenue per employee by March 2021. Sikka’s compensation of $11 million was linked to this long-term goal.

GMR group has won the bid to develop and operate a greenfield airport in Greece giving a boost to its aviation business.

GMR has partnered Greek company GEK Terna to develop the airport at Heraklion on island of Crete. This will be the group's second overseas project (GMR runs Mactan Cebu project in Philippines. Earlier it ran airports in Turkey and Maldives) and the award win comes close on heels of a revival in its airport business.

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