Apollo Health and Lifestyle (AHLL) a wholly-owned subsidiary of Apollo Hospitals Enterprise, focusing on retail healthcare segment, has raised R450 crore by selling 29% equity stake to World Bank arm International Finance Corporation (IFC) and IFC Asset Management Company.

This investment will fuel AHLL’s expansion plans and fulfill its vision of bringing healthcare of international standards within the reach of 20 million patients each year by 2020. Apollo Hospitals has invested R500 crore in AHLL and the fresh infusion of R450 crore from IFC would take care of its growth plans for the next 24 months.

ICICI Bank on Thursday reduced the marginal cost of funds-based lending rate (MCLR) by 5 basis points (bps) across tenures. The one-year MCLR at the bank now stands at 8.9%, at par with that at State Bank of India (SBI).

SBI has left MCLRs unchanged from their levels a month ago. Private sector lender Kotak Mahindra Bank effected a 25-bps cut on its one-year MCLR. Rates on tenures between one month and three years were also reduced by between 10 bps and 30 bps.

Stocks of oil marketing companies (OMCs), including IOC, HPCL and BPCL, fell between 2.2% and 4.9% on Thursday, a day after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut production after a gap of eight years.

The BSE Oil and Gas index closed at 11,881.25, down 83.07 points or 0.69%, while the Sensex closed down 92.89 points, or 0.35%.

NEW DELHI: Indian Railways has asked the State Bank of India and ICICI Bank among others to provide around 15,000 point of sale (PoS) machines at reservation counters, with about a thousand of these machines to be made available by Dec 31, to make railway travel bookings digital. Currently, the Railways does not provide POS service for debit and credit card payments at its ticket counters.

After rising for most of the week, Indian markets closed in red on Thursday, with the BSE Sensex slipping 92.80 points, or 0.35%, to close at 26559.92. Banking and telecom stocks led the decline.

Nifty lost 31.60 points or 0.38% to settle at 8192.90 at the day's close as markets stayed volatile amid mixed global cues.

Coal India (CIL), the world's largest coal miner, seems to have lost its emphasis on underground mines whose production as well as mine productivity has declined over the past decade. Instead, CIL's production results indicate a focus on upping the mine productivity and increasing the production contribution of opencast mines to the consolidated output from 86.66% in 2005-06 to 93.73% in 2015-16.

Ford India on Thursday reported a 22.19% growth in total sales at 21,004 units in November this year, driven by overseas shipments.

The company had sold 17,189 units in the same month of last year, Ford India said in a statement.

Bengaluru: Don Callahan may be an unfamiliar name to many in India, but for companies in the country’s $150 billion outsourcing business, the head of operations and technology at Citigroup Inc. could be quite the game-changer.

Callahan will decide the winner of the largest outsourcing contract up for grabs in close to a decade. The last time the contract was awarded, in 2008, it was worth $2.5 billion for a 10-year period.

The deadline for using old Rs. 500 notes at petrol pumps and for airline tickets at airports has been cut short to December 2, instead of December 15, as announced earlier, a government notification said.

While junking old Rs. 500 and Rs. 1,000 rupee notes on November 8, the government had allowed their use for utility bill payments for 72 hours.

Seeking to make them attractive options for raising capital, Sebi today notified revised and easier regulations for REITs and InvITs.

To facilitate growth of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), the board of Sebi had approved relaxations to existing norms in September after extensive public consultations.

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