Hyundai Motor forecast a gradual earnings recovery after posting a smaller-than-expected 21 percent fall in quarterly profit as sales of higher-margin cars cushioned the impact of a U.S. recall and revenue decline in China. The forecast-beating earnings helped Hyundai shares rise 4.5 percent. The South Korean automaker’s shares have been under pressure recently due to concerns about prolonged weakness in China, its biggest market, as South Korea moves ahead with its plan to deploy a U.S. anti-missile defense system despite China’s opposition.

The state-owned power giant NTPC today raised Rs 2,000 crore through issuance of rupee- denominated bonds under its $4 billion medium term note programme for capital expenditure. “Issue of rupee-denominated Rs 2,000 crore, 7.25 per cent notes due 2022 payable in the US dollar issued pursuant to $4 billion medium term note programme by NTPC Limited,” NTPC said in a BSE filing today.

A commonly-agreed interoperable charge on micro ATM transactions, which had been a bone of contention between big banks and their smaller rivals, could be close to being firmed up.

These charges, which are mostly agreeable to the bigger banks, were decided after almost a month-long debate by the Information Technology ministry , National Payments Corporation of India and banks represented by the Indian Banks' Association (IBA).

NEW DELHI: State-owned Indian Oil Corp (IOC) has received green nod for upgradation of its Bongaigaon refinery for production of BS-VI grade fuels in Assam at a cost of Rs 4,185 crore.

The company wants to upgrade its Bongaigaon Refinery (BGR) as the government aims to implement BS-VI fuel in the entire country from April 2020 to curb pollution. Oil firms will have to be prepared to retail BS VI-compliant fuel by then.

The Reserve Bank of India (RBI) on Wednesday imposed monetary penalty on the Hongkong and Shanghai Banking Corporation Ltd. (HSBC) and the Kotak Mahindra Bank for violation of instructions on reporting requirements of Foreign Exchange Management Act 1999 (FEMA 1999).

The central bank penalised The Hong Kong and Shanghai Banking Corporation Ltd. for Rs. 70,000 and the Kotak Mahindra Bank for Rs. 10,000 in exercise of powers vested in the RBI.

Leading stock exchange BSE started its two-day mock trading session for infrastructure investment trusts (InvITs), ahead of next month's IPO by first such trust.

The exchange has developed the facility on its web-based platform - IBBS (Internet-based book building software) - to accumulate the bids from the applicants for InvITs.

The Centre has cautioned states against disclosing Aadhaar data and other personal details of individuals on their official websites, warning such actions can attract jail term of three years.

The Union IT Ministry has also asked the states to review website content of various departments and take "precautions" to ensure that personal data of individuals, including Aadhaar numbers or bank account details, do not appear on portals.

The free schemes and recharge options that Reliance Jio is offering to its customers is likely to continue for the next 12-18 months, which means other telecom services providers like Airtel, Vodafone and BSNL will have to step up efforts to counter Jio's strategy.

Jio's tactic would lead to pressure on the average revenue per user (ARPU) of incumbent operators, US bank Morgan Stanley said in a report. It added that ARPU for Bharti Airtel, Idea Cellular and Vodafone India has been effectively capped at about Rs 300 due to Jio’s current offers, a report published in The Economic Times said.

Backed by revenue contribution from the Appirio (US-based) buyout, Wipro managed to deliver in-line constant currency revenue growth of 1.7 per cent on a sequential basis for the March quarter (Q4). Healthy growth in key verticals of finance solutions, manufacturing and technology and consumer businesses fuelled revenues of the company in Q4. Among other positives is operating profit margin, which at 18.3 per cent came in higher than Street expectations of 17-17.7 per cent. While the number was stable on a sequential basis, it was aided by higher employee utilisations as well as healthy revenue growth.

Mumbai Indians captain Rohit Sharma has been fined 50 per cent of his match fee for showing dissent at an umpire's decision during their Indian Premier League (IPL) encounter against Rising Pune Supergiant (RPS) in Mumbai.

The incident happened at the Wankhede Stadium last night when Mumbai needed 17 in the last over bowled by Jaydev Unadkat while chasing 161 for win.

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