State Bank of India (SBI) has reduced interest rates on term deposits with maturities of between 180 days and one year, and between 456 days and three years with effect from March 1. The country’s largest bank by assets will now pay 6.5% on deposits with maturities of between 180 days and less than one year, and 6.75% on those maturing between 456 days and less than three years. Earlier, SBI used to pay 6.75% on deposits maturing between 180 days and 210 days, 7% on those maturing between 211 days and less than a year, 6.95% on deposits maturing between 456 days and under two years and 6.85% on those maturing between two years and less than three years.

NEW DELHI: The government-owned Air India has shunted out its controversial head of operations, A K Kathpalia, replacing him with A K Govil.

Last month, aviation regulator DGCA had suspended Kathpalia's flying licence for three months for allegedly skipping the mandatory pre and post-flight alcohol test.

KOLKATA: Airtel, Vodafone and Idea are likely to bear the brunt of a potential 16-17 per cent fall in telecom industry revenues in FY18 if newcomer Reliance Jio’s Rs. 303 per month ‘Prime’ offer finds maximum traction from next month, analysts and sector experts said.

The price-value equation of Jio Prime offer of 28 GB data at 4G speeds with unlimited voice calls to any network is the best in the market, and incumbent carriers would do well to closely match it, they said. Brokerage Kotak Institutional Equities even warned that it would be "foolhardy for incumbents to assume they can command material pricing premium in the marketplace versus Jio".

Workers of the Tata Motors’ Sanand plant, who refused to take the company transport back home on Wednesday as a mark of protest, have approached the state labour department to help them negotiate their demands with the management.

A tripartite meeting between the workers, labour department officials and company representatives took place on Thursday afternoon to discuss the workers’ demands related to wage hikes.

Reliance Industries (RIL) was up 4.4% to Rs 1,288 on the BSE in early morning trade extending its rally on the bourses. The stock was trading at its highest level since May 23, 2008, when it touched 1,318.50 during intra-day trade.

RIL on Thursday after market hours informed the stock exchanges that entities forming part of the promoter group of the company intend to acquire from other promoter group entities by way of ‘inter-se’ transfer aggregating up to 1,190 million shares of RIL.

New Delhi: Bajaj Auto on Thursday reported a marginal increase in total sales in February at 2,73,513 units as against 2,72,719 units during the same month a year ago.

Domestic sales were at 1,59,109 units as compared to 1,73,760 units in the same month last year, down 8.43%, the company said in a statement.

Mumbai, March 1: Ajay Tyagi today began his innings as chairman of the Securities and Exchange Board of India (Sebi) amid a clutch of challenges, ranging from developing the commodity markets to ensuring better corporate governance and handling alleged violations in access of servers at the National Stock Exchange (NSE).

Tyagi is the ninth chairman of Sebi and takes over charge from U.K. Sinha, who demited office after a six-year tenure.

News reports are abuzz with speculation that Oil and Natural Gas Corp. Ltd (ONGC) may acquire the government’s 51.1% stake in Hindustan Petroleum Corp. Ltd (HPCL). While there is no official confirmation of this news yet, who will benefit the most if it plays out according to the reports?

Prima facie, it looks like the government will walk away with the booty in this case. The government will earn about $4-4.5 billion as a result of this acquisition. That should assist it in meeting its divestment target. Based on Tuesday’s market price, the deal works out to Rs27,786 crore (or $4.17 billion).

Mumbai: Tata Consultancy Services Ltd (TCS), which is planning a Rs16,000 crore share buyback, said on Wednesday that founder group of the company intended to participate in the proposed buyback.

TCS, is part of the salt-to-software Tata conglomerate, whose holding company is Tata Sons Ltd.

Sensex, on Thursday, opened at 29132.58, higher than yesterday's close at 28,984.49. It was up by over 148.09 points a few minutes into trading.

The Nifty, which had closed at 8,945.80 points climbed 41.90 points 8,987.70.

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