Global technology major Nokia and India’s leading network service provider Airtel along with state-owned network BSNL have announced that they have planned a strategy to reach the network evolution to 5G services introduce a fast internet ecosystem in the country. Earlier in March Nokia had announced the partnership with an aim to prepare 5G networks in India. According to a report in ET, an MOU has been signed between the companies.

Indian Oil Corp Ltd rose as much as 4.17% to its record high of Rs 413.80 on the BSE today, extending its gains from Friday. On Friday, IOC shares were up 3.55%, riding high on the back of news about the companies contemplating daily revision of retail fuel prices.

Shares of other state-owned oil marketing companies Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd had also risen significantly on Friday, based on the same sentiments that caused IOC shares to jump.

The quarterly earnings due to start this week provided markets a crucial leg-up today as the Sensex recouped 125 points and the Nifty topped 9,200 again amid a mixed Asian scenario.

However, a sense of caution ahead of key economic data kept mood tempered. The 30-share index traded up by 124.71 points, or 0.41%, at 29,831.32, as all indices led by oil and gas, PSU and capital goods came good, rising by up to 1.34%.

Shares of three private sector banks – YES Bank, RBL Bank and Lakshmi Vilas Bank – have hit their respective record highs, gaining up to 7.5% on BSE in intra-day trade on Monday.

Thus far in the calendar year 2017, RBL Bank (up 79%), YES Bank (38%) and Lakshmi Vilas Bank (23%) have outperformed the market by gaining more than 20%. In comparison, the S&P BSE Sensex was up 11.5% during the period.

An Air India pilot has been grounded for three months after he tested positive in the mandatory pre-flight alcohol test, minutes before operating a flight to Abu Dhabi from here.

The pilot was rostered to fly the Air India Express IX 115 Delhi to Abu Dhabi flight, which was scheduled for departure from Indira Gandhi International Airport at 8:50 pm yesterday.

Government-owned Punjab National Bank has (PNB) filed a complaint with the Central Bureau of Investigation (CBI) against Chandigarh-based Kudos Chemie which has defaulted to a loan of Rs 1300 crore. The action against the company follows action by investigating agencies against IDBI Bank, UB group officials in January this year for a Rs 900-crore loan default by Kingfisher Airlines.

PNB officials said it has informed the Reserve Bank of India and its board of directors about the fraud. The bank said in 2016, Directorate of Revenue Intelligence had initiated action against the company for violation of the Customs Act and the account became a non-performing asset in March last year. In between, the bank tried to sell the loan to an Asset Reconstruction Company (ARC) but it failed to file a buyer.

India’s largest e-commerce marketplace Flipkart has closed a $1.4 billion funding round with backing from Chinese Internet giant Tencent and participation from Microsoft and eBay Inc, at a valuation of $ 11.6 billion, the company said on Monday.

This latest round of funding brings down the valuation from a previous high of $15 billion, but it underlies the fact that Flipkart, which was written off, has made a rebound to attract investors in the company.

Lacklustre performance by two of its largest subsidiaries -- Mahanadi Coalfields Ltd (MCL) and South Eastern Coalfields Ltd (SECL) -- hindered Coal India Ltd (CIL) from achieving its targeted goals in production and offtake in 2016-17.

CIL was supposed to produce 598.61 million tonne (mt) in the last fiscal but actual output shrunk to 554.13 mt, an achievement of 93 per cent and a meagre growth of 2.9 per cent over FY16. The deficit in production was especially pronounced in MCL that was tipped to be the largest CIL subsidiary and, hence, was assigned the biggest target of 167 mt of coal production.

Mumbai: The Indian rupee on Friday strengthened to a fresh 20-month high against the US dollar, a day after Reserve Bank of India (RBI) increased reverse repo rate and expressed concerns about inflation.

The rupee closed at 64.28—a level last seen on 11 August 2015, up 0.40% from its Thursday’s close of 64.54. The rupee opened at 64.70 a dollar and touched a high of 64.16, a level last seen on 11 August 2015.

Hyundai Motor Co and Kia Motors Corp plan to recall 1.48 million vehicles in the United States, Canada and South Korea due to engine issues, the latest blow for two firms already struggling in key markets. The recall could cost the two firms hundreds of millions of dollars each revives quality concerns at a time when Hyundai and Kia face a sharp drop in China sales and sluggish demand in the United States and South Korea.

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.