Mahindra and Mahindra Financial Services (Mahindra Finance) is planning to raise up to Rs 29,000 crore through issuance of non-convertible debentures (NCDs) and seeking shareholders’ nod for the same. In a notice to shareholders, the company said it “proposed to offer or invite subscriptions for secured or unsecured redeemable NCDs, including subordinated debentures in domestic and/or international market in one or more series or tranches, aggregating up to Rs 29,000 crore on a private placement basis”.

Idea Cellular shares fell over 8 per cent on Monday after the company announced its fourth quarter results on Saturday and posted a consolidated loss of Rs 325.6 crore in the three-month period ended March 31, 2017 as compared to a profit of Rs 449.2 crore in the same period a year ago. Idea Cellular said that the company’s poor performance was due to Reliance Jio’e entry into the telecom sector. Reliance Jio made its disruptive entry into the Indian mobile market space in September last year by making voice calls and 4G data free as part of its promotional offer that continued till March this year.

Markets regulator Sebi has penalised Rushil Decor, Corporate Strategic Allianz and six others for disclosure lapses in their IPO documents. Sebi has imposed a total penalty of Rs 7 lakh on Rushil Decor and signatories of the IPO prospectus — Vipul Vora, Ghanshyam Ambalal Thakkar, Krupesh Ghanshyambhai Thakkar, Harshadbhai Navnitlal Doshi, Shankar Prasad Bhagat and Hasmukh Kanubhai Modi.

Just six months ago, Indian companies and policy makers were grappling with a record-low exchange rate. Now, the rupee’s unexpected rebound is causing fresh problems. While the currency’s 5.6 percent jump against the dollar so far this year will help tamp down inflation, it’s posing a challenge for the earnings of India’s exporters. For information technology and drug companies already contending with an American clampdown on working visas and a wave of unfavorable inspections by the U.S. Food and Drug Administration, it’s another headache.

The Sensex bounced nearly 166 points to 30,354 in early part on Monday, taking comfort from positive inflation numbers, with the hope that earnings momentum by blue-chips will keep up foreign capital inflows. A mixed trend prevailed in the rest of Asia.

The 30-share barometer jumped 165.90 points or 0.55%, to 30,354.05. Sectoral indices, led by metal, realty, banking, FMCG, capital goods and PSU, rose by up to 1.02%.

Indian Railways will install CCTV surveillance system at more than 900 stations under the Nirbhaya Fund at an approved cost of Rs 500 crore to strengthen security at rail premises.

Tenders will be floated shortly to install about 19,000 high definition CCTV cameras at 983 stations across the country to ensure round-the-clock security to passengers including women.

A group of petrol pump owners on Saturday said it has deferred the plan to shut shop on Sundays.

On April 10, the Consortium of Indian Petroleum Dealers (CIPD), which claims to have 25,000 members, asked its members to shut shop on Sundays starting May 14, in line with Prime Minister Narendra Modi’s vision to reduce fuel consumption. “We have been called by the government for a meeting in this regard on May 17 in Mumbai. Hence, we have asked our retail outlets to stay open on Sunday,” A D Sathyanarayan, president, CIPD, said.

In 2014, barely two months after the Narendra Modi government took charge, the Prime Minister’s Office (PMO) called a meeting to discuss the possibility of Air India advancing its revival by two years and subsequently going in for a stake sale. Three years later, despite some improvements, the state-owned carrier continues to struggle financially and is unlikely to achieve its target of making a net profit in FY19.

Despite lower fuel prices and higher passenger numbers, accumulated debt stood at Rs 46,000 crore and in April the airline took loans to pay salaries to its 16,000 employees.

As digitisation and automation become the new normal, information technology (IT) majors like Infosys, Cognizant and Tech Mahindra are seeing a spate of layoffs and this trend may continue for the next 1-2 years, say experts.

Pink slips are likely for jobs in manual testing, technology support, and system administration since these are increasingly going to be managed by artificial intelligence (AI) and robotics process automation based systems.

Chennai/Mumbai: The initial public offer (IPO) for SBI Life Insurance, which aims to garner up to Rs 6,500 crore, could become the largest such offer in the country in almost seven years. On Friday, State Bank of India (SBI), the country's largest bank, said it was in the process of appointing eight merchant bankers for SBI Life's IPO in which its promoters — SBI and European insurance major Cardiff — are together selling 12% stake. This could value the life insurer at more than Rs 50,000 crore (close to $8 billion).

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