Mumbai: Indian stocks advanced to a two-week high as the nation’s lenders rallied with consumer companies amid gains in regional equities.

The S&P BSE Bankex Index of 10 lenders climbed to a one-month high. The gauge is headed for its best week since July after the Essar Group’s $13 billion deal with a group involving Russia’s Rosneft PJSC improved prospects for loan recoveries at local banks.

Mumbai: After getting the power to regulate so-called collective investment schemes (CIS) in 2013, the Securities and Exchange Board of India (Sebi) has passed ban orders on at least 150 entities, but not been successful in refunding money to investors. Not even one CIS company has filed a winding-up report with the regulator, said three people with direct knowledge of the matter, including a Sebi official.

Samsung India Electronics will make all the future launches, including entry level smart phones, with 4G facilities and it expects to gain the market share in the current year on the back of new launches, a top company official said on Thursday.

“There is huge conversion happening from feature phones to smart phones at the entry level. This migration will continue.

Government-owned infrastructure consultancy RITES Ltd will provide its services to the Indian Railways Catering and Tourism Corporation (IRCTC) for projects to upgrade railway stations and allied facilities.

The IRCTC has signed a Memorandum of Understanding (MoU) with RITES which will undertake design and detailed engineering for the projects in addition to managing the bid process for selection of agencies that will carry out the construction work.

Union Home Minister Rajnath Singh assured full support for the release of Ae Dil Hai Mushkil (ADHM) in cinema halls, said Film & Television Producers Guild of India president Mukesh Bhatt.

Speaking to media after their meeting, Mukesh Bhatt said, "Rajnath Singh ji assured us 100% support and that he will convey to CM to maintain law and order." He also said that the Home Minister said he would speak to the chief minister of every state and that ADHM will release without any violence or issue.

Ashok Leyland Ltd has bagged order worth $170 million (around Rs 1,140 crore) from the United Republic of Tanzania. The order includes supplying of vehicles, gensets, spares and equipment for development of workships, training modules and allied equipments to be fitted on ambulances.

Vinod K Dasari, managing director, Ashok Leyland commented that exports is an import part of Ashok Leyland's strategic intent to globalise its product portfolio and derisk itself from supplying only into India.

YES Bank has moved higher by 2.5% to Rs 1,324 on the National Stock Exchange (NSE) after the bank reported a better-than-expected 31% year on year (YoY) growth in net profit at Rs 802 crore for the quarter ended September 30, 2016 (Q2FY17). The private sector lender had profit of Rs 610 crore in year ago quarter.

“Net Interest Income grew 30.5% YoY to Rs 1,446 crore on back of robust growth in advances & CASA. Net interest margin (NIM) expanded to 3.4% in Q2FY17 from 3.3% a year ago,” YES Bank said in a statement.

Days after the State Bank of India (SBI) blocked 6,00,000 debit cards over reports of security breach, clouds of suspicion hover above the heads of customers who fear falling prey to financial fraud.

"Card network companies like the NPCI, Mastercard and Visa had informed various banks in India about a potential risk to some cards owing to a data breach. Accordingly, State Bank of India (SBI) has taken precautionary measures and blocked cards of certain customers identified by the networks,"said a company statement on Thursday.

The petroleum ministry’s technical arm Directorate General of Hydrocarbons (DGH) is likely to take into consideration capital and operational expenditure incurred by Reliance Industries (RIL) while computing the penalty being imposed on the firm in regard to its commercial production of gas migrated from state-run ONGC’s 98/2 area to RIL’s KG-D6 block.

Public sector bank State Bank of India (SBI) has stated that it will re-issue approximately six lakh debit cards to customers after cards were blocked due to a malware-related security breach in a non-SBI ATM network, reported Times of India.

Customers who have used their cards only at SBI ATMs have not been affected. SBI's chief technology officer (CTO), Kumar Bhasin, told TOI, "A few ATMs have been affected by a malware.

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