Shares of Lanco Infratech Ltd (Lanco) tanked 20 percent to a new record low of Rs. 1.88 on the BSE after the company’s confirmation on Saturday that the Reserve Bank of India (RBI) has directed the company’s lead lender, IDBI Bank, to initiate a corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016 (IBC).

Lanco is one of the 12 companies that the RBI has ordered banks to take to bankruptcy court in its efforts to cut India’s bad debts that have grown to Rs 9.63 lakh crore. According to the RBI, these 12 bad loan accounts make up 25%, i.e. Rs 2.5 lakh crore, of the Rs 9.63 lakh crore bad debts.

In a bid to curb benami transactions and bring in transparency, the Centre has asked all states and union territories to complete by August 14 the digitalisation of land records, mutation records, sale and purchase records since 1950 of immovable property including land.

This is necessary as the Centre through enacting of a law proposes to link Aadhaar numbers with the ownership of such properties. The Centre in its notification dated June 15 has said that the properties which are not linked to Aadhaar numbers will be considered for appropriate action under the Benami Transactions (Prohibition) Amendment Act 2016.

Larsen & Toubro (L&T) was up 1.4% to Rs 1,752 on the BSE in early morning trade after the company said its construction arm has won orders worth Rs 2,231 crore across various business segments.

The company’s building & factories business has bagged a turnkey order worth Rs 1,324 crore from Andhra Pradesh Township Infrastructure Development Corporation, for the construction of residential buildings in the West Godavari District of Andhra Pradesh.

From shrinking the in-flight magazine size to giving up allowances, employees of Air India are coming out with innovative suggestions to help their company to fight the debt burden. This comes as the government is considering privatising the state-owned air carrier.

A cabin crew member in charge of Air India said that he is willing to work for two months without pay, including flying allowance, layover allowance and special allowance when travelling abroad.

Reliance Industries (RIL) was up 1.9% at Rs 1,415, trading higher for the fourth straight trading sessions on the BSE.

Since Jun 14, in past four trading days, the stock has outperformed the market by gaining 8% as compared to 0.33% rise in the S&P BSE Sensex.

German luxury carmaker BMW is investing another Rs 130 crore in India to enhance operations, taking its total investment in the country to Rs 1,250 crore.

The company will launch new version of its locally manufactured 5 Series later this month and 6 Series Gran Turismo (GT) model next year to strengthen its product portfolio in India.

The capital markets regulator, the Securities and Exchange of India (Sebi), is in the process of appointing a forensic auditor to ascertain if brokers and their clients made any profit by gaining preferential access to the colocation (colo) facility of the National Stock Exchange (NSE).

Although Sebi and auditor Deloitte have established the trading systems at the NSE’s colo facility were prone to manipulation, so far, they have not been able find any proof of entities — a part of the ecosystem — making any monetary gain. Sebi’s latest move could be critical in determining the finality of the case, which the regulator has been probing since 2015.

Tech giant Microsoft has unveiled the Modern Keyboard that features a hidden fingerprint sensor located between the Alt and Ctrl keys to make the typing hassle-free. It has also unveiled a Modern Mouse at $50 with nearly invisible buttons and a metal scroll wheel, a report in Engadget said on Friday. The Modern Keyboard, priced at $130, is in line with Microsoft’s next generation of Windows 10 input devices that match the latest Surface models in design and finish.

Tata Motors today said it has delivered 30 new buses to the Bengaluru Metropolitan Transport Corporation (BMTC). The new delivery is a part of a larger order of 1385 buses bagged by Tata Motors comprising the Ultra 6/9 BS IV Midi and LPO 1512/55 BS IV buses, the company said. “This next generation fleet of connected Tata Motors buses introduced today, reiterates our commitment towards the use of innovative technologies and concepts in Mass Public Transportation, to meet the current and future needs of Smart Cities like Bangalore,” Tata Motors Vice President, Sales & Marketing R T Wasan said.

The country's forex reserves slipped from record high level to US $381.156 billion in the week to June 9 due to fall in foreign currency assets.

In the previous week, the reserves had increased by US $2.404 billion to touch a record high of US $381.167 billion.

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