Oil and Natural Gas Corporation (ONGC) moved higher by 3% at Rs 185 on BSE on the back of two-fold jump in trading volumes.

Till 02:31 pm; about 901,000 shares changed hands on the counter against an average 389,000 shares were traded daily in past two weeks, the BSE data shows. A combined around seven million shares changed hands on the NSE and BSE so far.

The railways will soon be reaching an understanding with Indian Oil Corporation (IOC) for refining crude oil imported by the transport behemoth itself — a move that is likely to save Rs 2,000-2,500 crore a year on taxes for the ailing transporter.

The railways consumes about 2.8 billion litres of diesel in a year, costing Rs 18,000 crore, and 17.5 billion units of electricity, costing Rs 12,300 crore.

The Bombay High Court (HC) on Thursday impleaded cigarette major ITC, market regulator Securities and Exchange Board of India (Sebi) in the public interest litigation (PIL) against investment in tobacco companies by the government and state-owned insurance companies. The court also granted farmers' association request to be part of the PIL.

The court directed the new respondents to file their respective affidavits in reply to the petition within six weeks. The next hearing in the matter is likely within eight weeks.

In one of the biggest tax cuts in American history, President Donald Trump has proposed slashing the US tax rate on corporate and pass-through business profits to 15 per cent from 35 per cent or more, while also offering tax cuts to average Americans in a rough outline of his tax policy goals.

According to a Reuters report, a one-page summary of his proposals, released at a White House briefing, said Trump also wants to reduce the number of tax brackets to 3 from 7, double the standard deduction that Americans can claim on their tax returns and repeal the estate tax and alternative minimum tax.

Indigenous telecom equipment manufacturer Vihaan Network Limited (VNL) bagged Rs. 1648 crore telecom infrastructure project of state-owned Bharat Sanchar Nigam Ltd for providing connectivity in over 4000 villages in remote areas of Arunachal Pradesh and Assam. This project is part of the Rs. 5,336.18 crore worth comprehensive telecom development plan for the North-Eastern Region (NER) comprising eight states which was approved by the Union Cabinet in September 2014.

The Indian Oil Corporation (IOC) plans to build a new oil terminal at Motihari in Bihar to supply fuel to neighbour Nepal through the planned pipeline up to Amlekganj in Nepal. The old terminal at Raxaul, also in the same Indian state, will be closed, according to an IOC official.In August 2015, the Indian and Nepalese governments signed a memorandum of understanding (MoU) for a product pipeline, and subsequently IOC and Nepal Oil Corporation entered into a MoU for laying down of the pipeline by the Indian company.

Sahara chief Subrata Roy on Thursday said that he would pay Rs 1,500 crore in the SEBI-Sahara account on or before June 15.

Roy's undertaking came during the hearing of a case involving him and the Securities and Exchange Board of India (SEBI) over a dispute of returning money to its investors.

HDFC Bank hit a new high of Rs 1,567 on BSE have seen it market capitalisation (m-cap) crossing Rs 4-lakh crore.

At 2:53 pm; the stock of private sector lender was trading 1% higher at Rs 1,564, extending its 8% surge in past seven trading sessions after reported a healthy set of numbers for the quarter ended March 31, 2017 (Q4FY17) recording strong growth in net interest income (NII) and improvement in operating parameters. The S&P BSE Sensex was up 2.4% in past eight trading sessions since April 17.

Private sector lender Kotak Mahindra Bank’s consolidated net profit increased by 33% to Rs 1,404 crore for the January-March 2017 quarter from Rs 1,055 crore a year ago on the back of higher net interest income, fees and commissions.

Net interest income, the difference between interest earned and interest expended, increased by 17% to Rs 2,890 crore. Other income that includes fees, commission etc also increased to Rs 4,299 crore as compared to Rs 2,593 crore in the same quarter last year.

Two- and three-wheeler maker TVS Motor Company closed FY 2016-17 with a total revenue of Rs 13,363.43 crore and net profit of Rs 558.08 crore, the company said.

In a statement issued here, TVS Motor said it earned a revenue of Rs 13,363.43 crore last fiscal, up from Rs 12,194.77 crore posted during the previous year.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.