Bharat Heavy Electricals Limited (BHEL) has successfully commissioned the first unit of the 4x30 MW Pulichintala hydroelectric project (HEP) in Telangana. The greenfield project is being set up by TSGENCO in Guntur district of Telangana on the river Krishna. BHEL’s scope of work in the project includes design, manufacture, supply, supervision of erection, testing and commissioning of electrical & mechanical (E&M) package comprising four sets of 30 MW vertical Kaplan turbine & generator along with associated auxiliaries.

Bajaj Auto on Friday reported a 13 per cent decline in total sales in November at 2,69,948 units as against 3,09,673 units in the same month last year.

Motorcycle sales during the month fell by 12 per cent to 2,37,757 units as against 2,70,886 units in November last year, the company said in a BSE filing.

Continuation of the Payment Security Mechanism (PSM) is credit positive for NTPC, Moody’s Investors Service said. The Payment Security Mechanism is based on tripartite agreements between the central government, state governments and the Reserve Bank, and these agreements ensure payments to NTPC in the event of default by state-owned distribution companies, Moody’s said in statement.

Current agreements with various states expired in October 2016 and the Centre has given approval for their extension, NTPC had announced recently.

Three telecom companies lost a combined R4,288 crore in market capitalisation on Thursday after Reliance Industries chairman Mukesh Ambani said Reliance Jio Infocomm (RJio) would extend its free offers till March 31, 2017.

Shares of telecom majors such as Bharti Airtel, Idea Cellular and Reliance Communications fell between 1.7% and 5.9%.

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.

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