The BJP on Monday deftly outmanoeuvred the Congress to clinch power in Manipur and was set to form its first government in the northeastern state, headed by Nongthombam Biren, a former minister who quit the Congress last year.

Biren was to meet Governor Najma Heptulla on Monday night to stake claim to forming the new government.

Shares of leading private sector lenders such as YES Bank, IndusInd Bank, HDFC Bank and Kotak Mahindra Bank and automobile stocks like Maruti Suzuki India, Eicher Motors, Bajaj Auto, Hero MotoCorp boost the Nifty50 index to hit a record high on Tuesday in intra-day trade.

These stocks, along with Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Zee Entertainment, Tata Steel, Grasim Industries, Power Grid Corporation and Gail (India) have rallied more than 25% each from their March 4, 2015 levels.

Prime Minister Narendra Modi has emerged as a clear favourite for the 2019 general elections after the BJP's landslide victory in assembly elections in Uttar Pradesh and Uttarakhand, top US experts on India have said.

While one of the expert noted that the electoral results of the just concluded Assembly polls in five states show that the 2014 Lok Sabha election results were not an aberration, another noted that Modi would continue to lead India after 2019.

Non-life insurance companies posted over 33 per cent increase in their gross premium income (direct premium income underwritten) to Rs 10,287.7 crore in February as compared to Rs 7,710.81 crore in the year-ago month.

According to data compiled by the Insurance Regulatory and Development Authority of India (IRDAI), private sector general insurers' gross direct premium income underwritten in February stood at Rs 4,425.51 crore, up by 31 per cent from Rs 3,391.03 crore.

The Lok Sabha has passed the Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2016.

The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. It also aims to replace archaic laws which are hindering efficient governance.

New Delhi: Greenko Group is looking to acquire hydro and wind power producer Bhoruka Power Corp. Ltd’s renewable energy portfolio of 310 megawatts (MW).

L&T Infrastructure Finance Co. Ltd holds an equity stake worth Rs350 crore in Bhoruka Power, which currently operates 110MW of hydropower capacity, 170MW of wind capacity and 30MW of solar capacity in Karnataka, Rajasthan and Haryana, and is building a 200MW wind farm in Karnataka.

Social networking giant Facebook is set to launch its biggest business-to-business advertising campaign, educating marketers to invest more in mobile video ads specifically created for the platform’s smartphone users.

According to a report in Adweek on Sunday, the Facebook brand campaign to be launched on March 16, aims to educate and inspire marketers to generally shift industry mindsets toward clips created for smartphone users.

All limits on savings bank cash withdrawals that were imposed by the central bank post-demonetization ended on Monday, the Reserve Bank of India (RBI) announced.

The weekly withdrawal limit per account had been raised to Rs 50,000 from Rs 24,000 with effect from February 20, and all limits on ATM withdrawals were slated to cease from March 13.

Bengaluru: Infosys Ltd has appointed Pervinder Johar as the new chief executive officer (CEO) of Edgeverve, its wholly owned products and platforms subsidiary, according to an executive familiar with the development, more than a year after the abrupt exit of previous boss Michael Reh.

Edgeverve brought 5.6% or $143 million of the company’s $2.5 billion revenue during the October-December quarter.

The Income Tax Department has received responses from 8.38 lakh persons out of the 18 lakh SMS/email queries it had sent to 17.92 lakh people for suspicious deposits post demonetisation. “More than 12 lakh responses have been received from 8.38 lakh distinct PANs/persons which are under verification,” Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Lok Sabha.

The tax profiles of 17.92 lakh people were “not in line” with the cash deposits made by them during the 50-day demonetisation period.Under the Operation Clean Money launched on January 31, the I-T department sought online response on source of cash deposited by these persons.

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