In a keenly-contested biennial election to two Legislative Council seats in Jammu & Kashmir, BJP's Vikram Randhawa and Congress' Thakur Balbir Singh were elected to the Upper House on Monday.

Singh secured 31 votes while Randhawa secured 29 votes and both were declared winners, an official spokesman said. Randhawa was declared winner on the basis of draw of lots, a procedure laid down in the Constitution, as the PDP candidate Abdul Qayoom Dar also secured the equal number of votes (29), he said.

State Bank of India (SBI) surpassed oil exploration major Oil & Natural Gas Corporation (ONGC) to become most valued public sector undertaking (PSU) stock in terms of market capitalization (m-cap) in intra-day trade on Tuesday.

SBI with m-cap of Rs 239,808 crore was ahead of ONGC having m-cap of Rs 236,003 crore at 10:56 am; the BSE data showed. On Monday, the m-cap of ONGC and SBI was Rs 234,977 crore and Rs 234,902 crore, respectively.

India's largest software services firm TCS today said its shareholders have approved a Rs 16,000 crore share buyback plan.

The buyback programme, which was passed through a special resolution, saw 99.81% of the total number of valid votes being cast in favour of the proposal, the company said in a regulatory filing.

Cost competitiveness of solar power is on the rise with the lowest competitive bid tariff discovered at Rs 3.15 per kilowatt hour over a previous lowest bid tariff of Rs 3.33 kilowatt/ hour. The lowest bid tariff was discovered on April 12 at NTPC’s 250 mw solar park project in Andhra Pradesh. The earlier lowest bid tariff was discovered during February this year for Rewa solar project in Madhya Pradesh.

The much-awaited Rs 42,000-crore Barmer refinery in Rajasthan by state-run Hindustan Petroleum Corporation Ltd (HPCL) may get a fresh lease, as the ministry of petroleum and natural gas may sign a fresh memorandum of understanding with the Rajasthan government this week with revised fiscal package for the project.

HPCL has called for an emergency board meeting to clear the revised terms and conditions of the project on Monday. On Tuesday, petroleum minister Dharmendra Pradhan and Rajasthan chief minister Chief Minister Vasundhara Raje will sign a fresh MoU on this in Jaipur.

Larsen and Toubro on Monday informed the bourses that its construction arm has bagged orders worth Rs 2,694 crores across various bussiness segments.

Its water and effluent treatment business has received engineering, procurement and construction orders worth Rs 2,227 crores. “Orders have been secured from Narmada Water Resource Supply and Kalpsar Department, Government of Gujarat for Kakrapar -Gordha -Vad Life Irrigation, Kadana – Patadungri Lift Irrigation and Sauni Yojana Link-2 Package 4 projects,” the company’s press release said.

Air India has decided to formulate certain rules to reduce the activities of unruly passengers. After an increase in the number of incidents of passengers being denied boarding by Indian airlines, Air India has also decided to impose fine on passengers for the delay. According to the news agency ANI, for a delay up to 1 hour, a fine of Rs 5 lakh will be imposed. In case the delay is between 1 to 2 hours, a fine of Rs 15 lakhs will be imposed and for any delay beyond 2 hours, the passengers will have to pay rs 15 lakhs as fine.

NEW DELHI: State-run power equipment maker BHEL today said it has commissioned two units of 270 mega watt (MW) thermal power project in Maharashtra.

"Bharat Heavy Electricals Ltd (BHEL) has successfully commissioned two units of 270 MW at RattanIndia Nasik Power Ltd's 5x270 MW thermal power project, located at Sinnar in Nasik District of Maharashtra," the company said in a BSE filing.

NEW DELHI: Reliance Industries, second most valuable company in India, has introduced a 12-week paid leave for 'commissioning' mothers who use surrogates to bear a child, as it adopted provisions of the new maternity law.

"With effect from April 1, 2017 there will be extension of maternity leave to 26 weeks (182 calendar days), from 180 days, for regular employees," RIL HR department said in a notice to company employees.

Geo-political issues continued to dominate the scene as the Sensex slipped over 88 points in early part on Monday, mirroring global losses.

The weakness remained for the third session as the 30-share index fell 88.32 points, or 0.30%, to 29,373.13. Much of the softness came from metal, IT, FMCG, technology and auto.

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