The Bombay Stock Exchange (BSE) stock made a strong debut on the National Stock Exchange (NSE) on Friday with the scrip opening at Rs 1,089 up a remarkable 35% over the issue price of Rs 806. The stock gained as much as 48% intra-day after the R1,234.4 crore initial public offer (IPO) was subscribed more than 51 times when it closed last week. “The issue has got great response. However, investors should first read about BSE and if they are convinced about the business model then only one should invest,” said Ashish Chauhan, MD and CEO of the bourse.

MUMBAI: In a bid to discourage cash transactions, country's second largest private sector lender HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash.

The move assumes significance as the government post demonetisation has been encouraging people to shift to a cash-less or less-cash regime and use digital mode for transactions.

Reserve Bank has permitted foreign investors to increase their stake in Cera Sanitaryware to up to 36% under the portfolio investment scheme (PIS).

"Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) can now invest from 24% to 36% of the paid-up capital of Cera Sanitaryware Limited under the PIS," the RBI said in a notification on Friday.

BENGALURU: In order to take effective actions against increasing global warming and pollution levels, a series of workshops to sensitize Ministry of Micro, Small and Medium Enterprises (MSME) on efficient use of energy has been organized by YES Bank in partnership with Entrepreneurship Development Institute of India (EDII).

These workshops will be on 'benefits of adoption of social business practices, energy efficiency and occupation health and safety measures.' They will be conducted free of charge for MSME Associations across Bangalore by EDII.

The Ministry of Finance is learned to have issued a draft Cabinet note proposing disinvestment of equity stake in three railway PSUs (public sector undertakings) IRCTC, Ircon and IRFC, ET Now reported quoting a wire agency which cited an unidentified ministry official.

The government seeks to disinvest 10% equity stake each in the three state-run railway companies via an IPO (initial public offer) in the next financial year 2017-18, the news report said.

The Reserve Bank is likely to go for a 25 basis point cut in interest rate in its monetary policy review meet next week amid muted inflation, a "prudent budget" and concerns about the impact of demonetization on growth, says a Deutsche Bank report.

According to the global financial services major, there is room for an accommodative policy stance by RBI next week, although the scope for further rate cuts is unlikely given global price developments.

Calcutta, Feb. 2: Public sector miner Coal India has witnessed an increase in production in January, with four of its eight subsidiaries achieving the target set for the month. However, the miner's overall output fell 8 per cent short of its target.

Provisional production during the month was 55.99 million tonnes (mt) compared with 52.86mt in the year-ago period. The target for January was at 61.04mt.

MUMBAI: Even as the special CBI court has dropped all charges against the Maran brothers in the 2G case, the fate of the merger deal between Reliance Communications (RCom) and Aircel still depends upon the outcome of the Supreme Court order on Friday as the trial court had segregated the trial against the two accused Malaysian nationals - Ralph Marshall and T. Ananda Krishnan from that of the Maran brothers. Dayanidhi Maran is a former Union Minister and Kalanidhi Maran runs the Sun TV network.

Hyundai is currently working to update its model range including the facelift Verna, Grand i10 and the Xcent. Fresh images of the Xcent facelift have surfaced on the internet, indicating the launch of the compact sedan is around the corner. The company will first launch the Grand i10 in India followed by the launch of the Verna and Xcent, respectively in 2017.

The Hyundai Xcent facelift will get new equipment, both at the exterior and interior as well as some mechanical updates. Under the hood, the upcoming Xcent is likely to get the same 1.2 litre petrol engine that produces 81 hp of power and 113.7 Nm of torque.

To increase the non-aeronautical revenues of the Airports Authority of India (AAI), finance minister Arun Jaitley said in his Budget proposals that the government plans to amend the AAI Act to allow the former to monetise its surplus land for commercial purposes. Currently, the Act limits AAI to use its land for only airport related purposes.

AAI owns close to 55,000 acres of land across the country and is ranked as the third highest in terms of the land it owns probably after railways and defence. According to a senior official of AAI, the plan is to monetise around 12-15% of the total land it holds. The money collected will be used in developing new or upgrading the existing airports in non-metro cities.

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