HSBC will move staff responsible for generating around a fifth of its UK-based trading revenue to Paris following Britain's exit from the European Union, Chief Executive Stuart Gulliver said on Wednesday.

"We're not moving this year and maybe not even next year," Gulliver said in an interview on the sidelines of the annual meeting of the World Economic Forum in Davos.

NTPC, Hindustan Zinc, Adani Power, Tata Steel and Steel Authority of India (SAIL) were among 24 stocks from the BSE500 and Small-cap indices hitting their respective 52-week highs in intra-day trade.

Dalmia Bharat, Datamatics Global Services, Mastek, Pokarna, Sonata Software, Graphite India and Sterlite Technologies were other stocks that hit their 52-week highs.

After exiting the Light Commercial Vehicle (LCV) joint venture it had with Nissan in September last year, Ashok Leyland on Wednesday launched a newly modified LCV, 'Partner', and an Intermediate Commercial vehicle (ICV), 'Guru'.

The company has developed both the cabin and powertrain for Partner, Vinod K Dasari, managing director, Ashok Leyland said.

Facebook CEO Mark Zuckerberg sees virtual reality as a future computing platform that his company has a chance to own, though he admits it may take 5 – 10 years to bring it to the masses.

Members of the press had a rare opportunity to get a more unfiltered view into the future of Facebook’s virtual reality ambitions as Zuckerberg took to the stands today to testify in a $2 billion lawsuit surrounding the origins of Oculus, a VR company it acquired in March of 2014.

New Delhi: Finance minister Arun Jaitley is likely to significantly increase public investment in infrastructure in Union Budget 2017, offering fiscal stimulus to boost economic growth at a time when private investment shows no signs of a pick-up.

There is near unanimity that the economy needs to be spurred through higher public investment, unlike last year when there was a significant divergence of opinion over the need for fiscal stimulus, said an official with knowledge of the thinking within the government. The official requested anonymity.

Mumbai: The Securities and Exchange Board of India (Sebi) is planning a makeover for stock trading rules and some of the key norms governing stock exchanges, clearing corporations and market intermediaries such as brokers and depository participants (DPs).

About a month ago, Sebi commenced a study of markets, trading behaviour, functioning of intermediaries and the ability of institutions such as exchanges and clearing corporations to handle increased market activity, two people familiar with the development said, requesting anonymity as they are not authorized to speak to reporters.

Mumbai: Shares of Axis Bank Ltd gained for the sixth consecutive session as they hit a two-month high ahead of its December quarter earnings on Thursday.

The stock gained nearly 10% since 10 January, while so far this year it gained 8.8%. In intraday trade, the stock touched a high of Rs 491.70 a share—a level last seen on 15 November 2016 and rose 0.6%.

Motihari: The role of ISI in the recent train disaster in Kanpur was being suspected after Bihar police on Tuesday arrested three people who they claimed were working for the Pakistani intelligence agency to target Indian railways.

The ISI link to the 20 November train disaster, in which 150 people were killed, was being suspected after the interrogation of the trio, police said. During interrogation, the three arrested persons provided some “positive lead” about the Indore-Patna Express derailment in Kanpur, District Superintendent of Police (SP) Jitendra Rana said.

Mumbai: Reliance Industries Ltd (RIL) and Russian petrochemical giant Sibur signed a memorandum of association at the recently-concluded Vibrant Gujarat Summit at Gandhinagar to set up South Asia’s first butyl rubber halogenation unit at RIL’s integrated petrochemical site in Jamnagar, Gujarat.

In a press statement, RIL said the unit will produce 60,000 million tonnes of halogenated butyl rubber every year under Reliance Sibur Elastomers Pvt. Ltd (RSEPL)—a joint venture (JV) of which RIL owns 74.9% and Sibur 25.1%. RIL and Sibur entered the JV in February 2012.

State Bank of India (SBI) on Tuesday said it had concluded its issue of dollar-denominated senior unsecured notes worth $500 million, having maturity of five years and a coupon of 3.25%, to be paid semi-annually. The bonds will be issued through the bank’s London branch on January 24 and will be listed on the Singapore Stock Exchange.

This is the first time in the current financial year that SBI has tapped the dollar bond market for funds.

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