MUMBAI: Market benchmark Sensex rebounded by 266 points on Thursday to close at over two-week high of 28,773.13 and the NSE Nifty went past the 8,800-mark, tracking upbeat global cues after the US Federal Reserve left rates unchanged.

Moreover, trading sentiment got a boost after the current account deficit (CAD) narrowed sharply to just USD 300 million, or 0.1 per cent of GDP in the June quarter, driven by lower trade deficit on deeper import contraction.

Mumbai: The first gas output from Mozambique’s Rovuma basin will take longer to be produced than anticipated. Bharat PetroResources Ltd (BPRL), the upstream arm of state-owned Bharat Petroleum Corp. Ltd (BPCL), said the gas will now be produced in 2020-21 instead of year 2019.

Capital expenditure for the basin is undergoing revision, thanks to the drop in crude oil prices and a subsequent drop in exploration service costs. The previously projected capital expenditure for the project was at $21 billion.

New Delhi: Air India Ltd has objected to an advertising campaign by rival IndiGo airline at the Mumbai airport and has asked the airport authorities to take it down.

Air India had recently placed billboards at Mumbai airport including where IndiGo passengers check in that said: Wish you a comfortable flight. Next time fly Air India and feel the difference. The billboard talked about more leg space, hot meals and extra baggage space that the airline provides.

The integration of IT backbone, a key component in the merger of State Bank of India (SBI) with six other smaller banks, will be completed by the end of this December — well before the March 31, 2017, target for full-fledged amalgamation, a top official has said.

“We have already started the IT integration with our five associate banks and Bharatiya Mahila Bank. We are in readiness. This will get over by the end of the current year,” said SBI Chief Information Officer and Deputy Managing Director D. Mrutyunjay Mahapatra.

Google has extended its support to the Maharashtra government to make Mumbai a ‘Wifi city’.

“A team of Google led by Vinay Goel met Chief Minister Devendra Fadnavis in San Francisco and extended their support to make Mumbai a Wifi city,” a statement from Chief Minister’s office said.

Going ahead with its plan of setting up of around Rs 10,000 crore power plant in Odisha, CIL arm Mahanadi Coalfields has approached the environment ministry to seek green clearance for the 1,600 mw coal-based thermal plant.

“Towards gainful utilisation of coal deposits in Basundhara area, Sundergarh district of Odisha…company (Mahanadi Coalfields Ltd) has envisaged coal-based thermal power plant of 1600 (2×800) mw with super-critical technology,” CIL (Coal India) arm said in its annual report.

M&M is all set to roll out a new MPV (Multi-Utility Vehicle) to take on the Maruti Suzuki Ertiga, reported ET Now. The channel said that the new MPV is likely to be launched some time next year. M&M is also eyeing UVs in the range above the XUV 5OO. Anand Mahindra's M&M is also looking to ramp up its SUV (Sports Utility Vehicle) line-up and is planning to develop two new platforms for the same.

MUMBAI: Infosys is putting in place incentives for project managers to start monetising 'Zero Distance' programme in a bid to generate more business from clients and increase productivity of its bench. Zero Distance was one of the first initiatives started by CEO Vishal Sikka when he joined the IT company in August 2014.

The idea was to develop new ideas and improvements on every project Infosys works on to create a culture of innovation and to prove to clients the company was truly their partner, not just a vendor.

The agitated employees of the stock market regulator, Securities and Exchange Board of India (Sebi), have formally written to the Board seeking its intervention to put in place a mechanism to respond to inquiries by law enforcement agencies, such as Central Bureau of Investigation (CBI).

Sebi is, in turn, likely to seek clarity from the finance ministry on CBI's scrutiny of its staffers in various high profile cases.

Industrialist Mukesh Ambani was on Thursday named India's richest person for a ninth year in a row with a sharp increase in networth to US $22.7 billion, while Sun Pharma's Dilip Shanghvi was ranked a distant second with a wealth of US $16.9 billion.

The Hinduja Family moved up to the third position (US $15.2 billion) on the annual Forbes list of India's 100 Richest People. Wipro's Azim Premji slipped one place to fourth with a networth of US $15 billion.

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