Reliance Industries (RIL) gained nearly 5% to Rs 1,380, its fresh 9-year high on the BSE in intra-day trade, after Reliance Jio Infocomm (Jio), a subsidiary of RIL, on Friday said it had notched an unprecedented 72 million paid subscribers, and extended by a fortnight its deadline for migrating other subscribers to its paid offer.

“In just one month, over 72 million (and still counting!) Jio customers have signed up for JIO PRIME, making it one of the most successful customer privilege programmes anywhere in the world,” RIL said in a press release.

Ford India on Saturday reported a 17.14 per cent increase in total sales at 24,832 units in March this year.

The company had sold 21,198 vehicles in the corresponding month last year, Ford India said in a statement.

Hyundai Motor India Ltd (HMIL) on Saturday reported a 8 per cent increase in total sales at 55,614 units in March this year.

The company had sold 51,452 units in March 2016, HMIL said in a statement.

New Delhi: Nearly 58 lakh people Employees Provident Fund (EPF) pensioners will now get medical benefits, labour minister Bandaru Dattatreya said in the Lok Sabha on Friday.

“Regarding the pensioners, we are going to give the pensioners benefit under the ESIC (Employees State Insurance Corporation) to those who are retired pensioners. We will be providing all medical services to the retired pensioners. 58 lakh pensioners will be benefited,” he said.

To safeguard investors’ interest, Sebi today asked credit rating agencies to give a 30-day notice before withdrawal of ratings in case of open-ended mutual funds, even as it relaxed various disclosure norms for the CRAs. The decision has been taken in consultation with (credit rating agencies (CRAs) and representations received from the industry. Sebi said withdrawal of rating of is permitted in case of open ended mutual fund scheme, being perpetual in nature and having no specified maturity. Besides, such facilities are allowed in bank loans.

With nearly 50 companies launching buyback offers, shares worth R34,468 crore were bought back in 2016-17, the highest in 19 years. IT major Wipro effected the biggest buyback by a private sector firm buying shares worth R2,500 crore in June 2016. The government chose to tap cash-rich PSUs to meet its divestment target and took back as much as R18,964 crore via buybacks. At R7,519 crore, NMDC’s buyback offer was the biggest. Other PSUs that bought back shares included MOIL, Nalco, NMDC, Coal India, Bharat Electronics, Coal India, NHPC and NLC.

State-run NTPC has crossed the milestone of 50 GW power generation capacity which will help the country realise the goal of power for all. Lauding the company’s efforts, Power Minister Piyush Goyal tweeted, “Proud to announce that NTPC has crossed 50,000 MW of installed power generation capacity today. Another milestone towards 24X7 power for all.” According to a company statement, with commissioning of 500 MW unit at Unchahar in Uttar Pradesh, the total installed capacity of NTPC has increased to 50,498 MW. In FY17, NTPC’s annual generation topped 250 BU (billion units).

The State Bank of India has merged its five Associate Banks – State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore besides Bharatiya Mahila Bank – with itself with effect from April 1. With this six-way mega merger, the SBI has joined the league of top 50 banks globally in terms of assets.

The country’s largest car maker Maruti Suzuki India (MSI) today posted 8.1 per cent rise in total sales in March at 1,39,763 units as against 1,29,345 vehicles in the same month last year. The company’s domestic sales increased 7.7 per cent during the month to 1,27,999 units as against 1,18,895 units in March 2016. For 2016-17 fiscal, the company posted a 9.8 per cent jump in total sales at 15,68,603 units, against 14,29,248 vehicles in 2015-16. It turned out to be the company’s best ever year in term of sales.

India’s oil marketing companies today cut petrol price by Rs 3.77/litre and diesel by Rs 2.91/litre following the fluctuations in crude prices which have been swinging between the push and pull from coordinated output cuts by major producers on one side, and rising US stockpiles on the other. The new prices will be effective from midnight tonight – this is the first change in rates in two-and-a-half months.

Petrol is currently priced at Rs 71.14 a litre in Delhi and Diesel at Rs 59.02 per litre. Petrol price will now be reduced by Rs 3.77 per litre, excluding state levies, Indian Oil Corp (IOC) indicated in a statement.

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