He said, “I am trying hard to push companies to give insurance cover in instances of theft as well. So far, they have expressed their willingness to offer it only in cases of mishaps.”

The proposal follows the success of the travel insurance scheme launched by IRCTC last month. Already over one crore passengers have opted for it.

Markets continued to trade in negative terrain with IT majors leading the decline ahead of September US jobs data to be released later today.

At 12:30pm the S&P BSE Sensex was down 67 points at 28,039 and the Nifty50 was down 22 points at 8,688. In the broader markets, the BSE Midcap and Smallcap indices were trading with marginal losses. Market breadth was weak with 1214 gainers and 1207 losers on the BSE.

NEW DELHI: Global consultancy PwC India has formed a strategic alliance with Microsoft India to empower India's digital transformation, a statement said here on Thursday.

The statement said the alliance will help the industry harness some of the core competencies of both the firms.

Mumbai: State Bank of India Ltd (SBI) is holding talks with private equity funds to sell as much as 5% in SBI Life Insurance Co. Ltd, said three people aware of the development, including an SBI official.

The names of the private equity funds the bank has approached could not be immediately ascertained.

The Supreme Court on Thursday restrained NTPC from proceeding with its tender process for operation and development of Dulanga coal mine in Odisha. A bench headed by Justice Dipak Misra reserved its judgment on Montecarlo’s appeal against the

NTPC’s decision to reject its techno-commercial bid for the project. However, it stayed till further orders the Delhi High Court’s September 30 ruling that upheld the PSU’s decision to reject the bid of the private firm on the ground that there would be loss of public revenue if a coal block is not operated properly.

Market regulator Sebi has ordered two companies — Morningstar Ventures and Gitanjali Udyog — and their directors to refund investor money they had raised by issuing securities without complying with the norms.

The firms and their directors need to refund the money within three months with an interest of 15 per cent per annum. Besides, the entities have been barred from the capital market for four years.

MUMBAI: Idea Cellular’s acquisition of airwaves in this year’s auction will result in a Rs 1,000 crore increase in planned capital expenditure for the year, managing director Himanshu Kapania said.

The company expects it will need to make an upfront payment of about Rs 6,000 crore for the spectrum purchased in the auction. Idea was looking to get a slot of 5 MHz in the 1800 MHz band in Mumbai but settled for one in the 2100 MHz band, which it can still use to launch 4G services, Kapania said. “We didn’t get it (1800 MHz) in the price that made sense so we switched to 2100 MHz,” he said.

Kotak Mahindra Bank joined other banks in revising their lending rates on Friday, after the central bank cut the key repo rate by 25 bps.

Kotak Mahindra Bank cut its base rate by 10 bps to 9.40% per annum, effective immediately. With this, the bank said that "all categories of loans (other than the exceptions permitted by RBI) will be priced with reference to the revised base rate.

Tata Motors has moved higher by 2% to Rs 563 on the BSE after the company said Jaguar Land Rover (JLR) achieved a strong 28% year on year growth in global sales during the month of September.

“Jaguar Land Rover, the UK's leading manufacturer of premium luxury vehicles, reported its best ever September retail sales of 61,047 vehicles, up 28% compared to September 2015,” Tata Motors said in a press release today.

With the domestic natural gas price dipping by 51 per cent in 24 months to $2.5 per million British thermal units (mBtu), downstream companies Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) are batting for a floor price of at least $4.2 a unit.

At the current price, they say, there will be no margins for producers. According to ONGC, at the current volume, the per dollar decrease in price will have an impact of Rs 4,200 crore on its gross revenue. OIL’s loss on revenue is Rs 350 crore.

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