The number of private sector projects to which banks and financial institutions (FIs) sanctioned loans rose 58% year-on-year (y-o-y) in FY17, according to the Reserve Bank of India (RBI). In a report released as part of its monthly bulletin for September 2017, the central bank said 547 projects with a total cost of Rs 1.83 lakh crore were sanctioned financial assistance by banks and FIs in FY17, as against 346 projects worth Rs 91,800 crore in FY16.

Maruti Suzuki expects to better its FY17 performance further in the current fiscal by selling more than 300,000 units from Nexa, thus upping the premium showroom’s total share in the company’s overall sales volume to 20%. In FY17, Maruti achieved 15% of its total sales in volume terms from Nexa, three years ahead of schedule. According to sector analysts at the end of the current fiscal, the contribution of high-end vehicles, which are retailed through Nexa showrooms, may be around 30-33% in value terms. In FY17, Nexa’s contribution to the company’s topline was around 25%.

Islamic State (IS) has claimed responsibility for the Tube train blast in south-west London that injured twenty-nine people on Friday.

On Friday morning, twenty-nine people were hurt after an after an Improvised Explosive Device (IED) blasted on a Tube train at the Parsons Green Station. After the blast, the police were treating it as a terror attack.

E-commerce player Amazon on Friday said it has tied up with state-run lender Bank of Baroda to offer micro loans to its sellers.

The loans will be offered on invite-only basis to the marketplace sellers.

For Bharat Heavy Electricals Ltd (BHEL), the joint venture with Japan’s Kawasaki Heavy Industries (KHI) may well turn out to be a relief considering the recent drop in order inflows for the company.

According to its annual report, BHEL got orders worth only Rs 23,489 crore in 2016-17, a 46 per cent drop from Rs 43,727 crore in 2015-16. The company’s order book outstanding at the end of the last financial year stood at Rs 1,05,200 crore, down from Rs 1,10,730 crore in the year-ago period. Even new orders for the first quarter of the current financial year dropped 41 per cent to Rs 1,800 crore.

Mumbai: The rupee on Friday was trading marginally higher against the US dollar in mid-day trading session.

At 2.15pm, the rupee was trading at 64.09 a dollar, up 0.06% from its Thursday’s close of 64.13.The rupee opened at 64.16 a dollar.

New Delhi: The government plans road shows for Air India Ltd in India and abroad as it proceeds to sell the airline, according to a note it released on Thursday evening.

In its detailed tender requesting for proposals for engagement of advisers for strategic disinvestment in Air India and its subsidiaries, one of the tasks outlined for the adviser is of “conducting road shows in India and abroad”.

Markets regulator Sebi today imposed a penalty of Rs 4 lakh on ACI Infocom for failing to redress the two investor complaints within the prescribed time frame. The two grievances pertained to non-receipt of the shares of the firm by the complainants following a stock-split. After the stock split, the complainants were entitled to receive 1,000 shares each. However, they did not get the share certificates after splitting and complained to Sebi.

While the first complaint was forwarded to ACI Infocom through Sebi Complaints Redressal System (SCORES) in June 2013, the second one was sent to it in December 2013.

We hosted SN Subrahmanyan, MD and CEO of Larsen & Toubro as part of CEO Track at our 13th Annual Global Investor Conference. Key takeaways from his presentation: Strong momentum being witnessed across domestic infrastructure verticals – Rail/Metros, T&D, Water, Smart Cities, Airports, and Ports; Hydrocarbons and Defense also witnessing recovery.

Digitalisation and use of technology in construction a key focus area. Expect a revival in manufacturing JVs/subsidiaries over the next few years – investment phase over; time to sweat the assets created.

The benchmark BSE Sensex dropped by over 68 points in opening trade today, breaking its six- session winning streak due to profit booking in power, metal, consumer durables and healthcare stocks amid weak Asian leads after North Korea launched another missile over Japan.

The 30-share index fell by 68.45 points or 0.21 per cent to 32,173.48. The gauge had rallied 579.96 points in the previous six sessions.

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