The Reserve Bank and Sebi are looking into the breach of investment limit by FPIs in HDFC Bank stock and will come out with steps to prevent such violation in the future.

However, there are no plans to change foreign portfolio investment limit for the banking sector which is presently pegged at 74 per cent, sources said.

Ratings agency S&P expects IT services major TCS to remain net cash positive even if its Rs 16,000 crore-buyback offer gets fully subscribed.

The ratings and outlook on Tata Consultancy Services are not affected by the company's Rs 16,000 crore offer for share repurchases, Standard & Poor's said in a statement.

New Delhi: The government on Wednesday approved doubling of capacity to 40,000 MW in solar parks and Ultra Mega Solar Power Projects (UMSPP).

“The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, today approved the enhancement of capacity from 20,000 MW to 40,000 MW of the Scheme for development of Solar Parks and Ultra Mega Solar Power Projects,” an official statement said.

The country’s largest carmaker Maruti Suzuki India (MSI) is investing another Rs 1,900 crore till March 2019 on enhancing the R&D centre here for cutting time of new product development and to expand infrastructure for evaluating vehicles’ safety. The company has already invested around Rs 1,900 crore on the first phase of development at the R&D centre that houses various facilities, including vehicle testing and evaluation labs.

“In the second phase we will have facilities dedicated for transmissions, engines, emissions controls among others. These will come up at the centre over the next few years,” MSI Executive Director R&D, C V Raman told reporters here.

MUMBAI: Microsoft on Wednesday launched Skype Lite, an exclusive "Made for India" app to provide seamless experience in messaging, audio and video calling even at lower bandwidths.

"Packed in a 13MB file, the new app is available only for Android devices and is especially designed to save data," Satya Nadella, Indian-born CEO of Microsoft, told the media at the company's "Future Decoded" event here.

NEW DELHI: The government’s plan to create an integrated oil company will likely involve Oil and Natural Gas Corp taking over either Hindustan Petroleum Corp (HPCL) or Bharat Petroleum Corp (BPCL) but won’t result in a mega merger leading to the creation of an industry giant.

In his February 1 Budget speech, FM Arun Jaitley had said the government proposes to “create an integrated public sector oil major which will be able to match the performance of international and domestic private sector oil and gas companies”.

MUMBAI/NEW DELHI: Tata Motors, India’s largest automobile company by revenue, and Volkswagen Group, Europe’s largest car maker by volume, are said to be at an advanced stage of finalising a partnership that can have a wide-ranging impact on India and other emerging markets.

The contours of the partnership, on whether it will be a joint venture or a technology tie-up, are still being worked out, said five people with knowledge of the matter. They told ET that negotiations are making progress and could culminate in an announcement at the Geneva International Motor Show in March.

The Sensex rallied about 97 points to 28,858.30 in early session today, maintaining its uptrend for the fifth day on widespread gains amid covering-up of short positions ahead of the February month expiry in the derivatives segment tomorrow.

Brokers said that a mixed trend at other Asian markets too influenced sentiments here.

The Reserve Bank of India will not be issuing a new series of Rs 1000 notes, Economic Affairs Secretary Shaktikanta Das said on Wednesday.

The statement comes after there were rumours about a new redesigned Rs 1000 note hitting the markets soon.

Terming media stories on Panaya acquisition false and malicious, Infosys Chief Executive Vishal Sikka told its employees that the attacks were orchestrated by people hell-bent on harming their reputation.

"Once again, some newspapers have carried false and malicious stories about our company -- this time it is about the acquisition of Panaya. These speculations and fabrications are designed to tarnish our reputation," said Sikka in an email to his employees (techies) coding software at the company's development centres worldwide.

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