The Securities and Exchange Board of India (Sebi) on Wednesday proposed new norms to regulate index providers, entities who design and develop benchmark indices such as the Sensex and Nifty. The index operators, which include subsidiaries of stock exchanges and independent entities such as S&P, currently do not come under Sebi’s direct regulatory purview.

The proposed norms include a code of conduct for index operators, while mandating more disclosures and greater transparency when including or excluding a stock from the indices.

Microsoft on Wednesday showcased an innovative Windows Mixed Reality headsets designed with the help from partners like Acer, ASUS, Dell, HP and Lenovo at the information and communication technology (ICT) show ‘Computex 2017’. Available later this year, these affordable headsets will utilise the Windows Mixed Reality platform to enable new video, entertainment, social and productivity experiences.

State-run miner Coal India has rechristened its sales and marketing wing as ‘Marketing and Sales’ department in order to give more stress on marketing of the fossil fuel. “The ‘Sales & Marketing’ wing of CIL and subsidiaries is renamed as ‘Marketing & Sales’ department,” an official said.

The board of directors which met this month had advised that the ‘Sales & Marketing’ department of Coal India Ltd (CIL) should be renamed as ‘Marketing & Sales Department’, the official said.

Markets regulators Sebi today said it has formulated a scheme to spread awareness about commodities derivatives among farmers, manufacturers and cooperative groups. Under the scheme, eligible entities interested in conducting commodities awareness programmes can approach Sebi for recognition and these entities can impart education in the field of commodity derivatives on topics such as forward or futures contracts, hedging and risks, among others.

ST PETERSBURG: State-owned Indian Oil Corp (IOC) and its partners are in talks to buy 49 per cent stake in Russia's Vankor cluster oilfields to consolidate their presence in the energy-rich Arctic region.

IOC, Oil India Ltd and Bharat PetroResources Ltd (a unit of Bharat Petroleum Ltd or BPCL) is looking at buying a stake in Suzunskoye, Tagulskoye and Lodochnoye fields -- collectively known as Vankor Cluster, sources privy to the development said.

The BSE Sensex hit a fresh record high of 31,233 by surging over 74 points, and NSE Nifty touched fresh lifetime high of 9,638 in early trade on Wednesday on sustained buying by domestic institutional investors.

Rising for the fifth straight day, the 30-share index rose by 74.28 points, or 0.23%, to hit a new peak of 31,233.68.

At least 40 people were killed or wounded in a powerful blast in Kabul's diplomatic quarter on Wednesday, an interior ministry spokesman said.

The blast rocked Kabul's high-security diplomatic area where the Indian embassy is located but all staffers at the Indian mission were said to be safe.

Ashok Leyland moved higher by 2% to Rs 95.55, recovering 2.6% from early morning lows of Rs 93.10, after a huge block deal executed on the counter on BSE.

At 09:21 am; around 10.98 million equity shares representing 0.46% of total equity of Ashok Leyland have changed hand on the BSE in a single block deal, the exchange data shows.

Shares of Mahindra & Mahindra rallied over 6% after the utility vehicle and farm equipment major reported a 26.3% growth in net profit at Rs 874 crore for the March quarter, helped by an exceptional gain of Rs 93 crore and higher other income of Rs 294 crore.

The stock gained as much as 6.3% to Rs 1,449 on the BSE. So far, 79,000 shares exchanged hands on the counter against its two-week average of 85,000 shares.

Moody's Investors Service has downgraded Reliance Communications' corporate family rating and senior secured bond rating on account of weak performance and "fragile" liquidity position.

Allaying concerns, the Anil Ambani-led Reliance Group company today said that it has told lenders that it would repay Rs 25,000 crore before September 30 this year post completion of its three different deals.

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