MUMBAI: The Securities and Exchange Board of India (Sebi) is doing a preliminary examination of the arrangement between Tata Sons and group companies to understand whether it is in consonance with current insider-trading regulations.

Sebi is also examining whether price-sensitive information was disclosed to Tata Sons directors and Tata Trusts nominees before it was approved by the boards of operating companies.

Tata Motors' shares surged nearly 5% on the BSE on Tuesday after the Indian carmaker submitted reply to the a clarification sought by the stock exchange over e-mail.

The BSE sought a clarification from Tata Motors about a report "FIIs raise concerns over Tata Motors Governnance" published in The Economic Times, which said that Foreign Institutional Investors (FII) had written to the carmaker, raising concerns that it (Tata Motors) was getting preferential access to strategy and information.

ICICI Bank was up 3% to Rs 287 on BSE in early morning trade after the banks’ outstanding watch list for the quarter ended September 30, 2016 (Q2FY17) stood at Rs 32,490 crore down from Rs 44,000 crore at the start of the financial year.

“The bank expects repayments from the proceeds of two large asset sales (Jaiprakash group’s sale of cement plants and Essar group’s sale of oil refinery to Rosneft) to bring down the size of the watch list in six to nine months”, Chanda Kochhar, managing director and chief executive said.

In a significant development for the Indian bond market, State Bank of India (SBI) and FTSE Russell, the arm of the London Stock Exchange, will jointly develop a bond index for global investors to benchmark Indian bond market against that of its competitors.

FTSE Russell, index and data provider unit of LSE, is among the top three fixed income index providers globally.

Mumbai: The rupee on Monday closed marginally lower against the US dollar, tracking the losses in its Asian peers.

The rupee closed at 66.74 a dollar, down 0.04% from its previous close of 66.75. The home currency opened at 66.75 against the US dollar. So far this year, it has fallen 0.9%.

With the rise of Snapchat and its Stories feature, from Instagram to Facebook, and now WhatsApp are trying to clone it. In the new WhatsApp’s Beta app on iOS and Android, there is a new ‘Status’ tab where the ‘Stories’ can be put and seen before it disappears 24 hours later. While WhatsApp allows its new video calling feature to the members of its beta testing program, the new ‘Stories’ feature is only available to a select few who operate on a jailbroken Apple device or a rooted Android smartphone.

JustRide, a startup that allows customers to rent out cars and self-drive, on Monday said it has raised about Rs 20 crore ($3 million) from global investors, including Y-Combinator partners.

The fund will be utilised for expanding the company's car-sharing platform JustConnect and developing Yabber, an IoT device that works on connected car technology and data analytics to analyze the driving skills of the customers.

New Delhi: The Delhi high court on Monday granted the Centre an extension of two months to take a decision on the extension of a product-sharing contract between Oil and Natural Gas Corporation Ltd (ONGC) and Cairn India for the Barmer block in Rajasthan.

Justice Sanjeev Sachdeva told the Centre to take this decision individually and not link it with the policy guidelines that the Centre was formulating keeping in mind other companies whose contracts are also set to expire.

Commodity guru Jim Rogers is of the view that Donald Trump will win in the US elections. In an interview with ET Now Rogers said, “the sense is that Donald Trump will win the US elections”. He also said that commodities will continue to go higher. Recently, Marc Faber the author of the The Gloom, Boom & Doom Report, said that Hillary Clinton’s victory may not be positive for the global markets. Calling Hillary Clinton a war monger, Faber said that if she is elected, international tensions will increase.

HDFC Bank cut its marginal cost of funds-based lending rates by 15 basis points across tenures, the bank said on its website. While Bank of India cut its MCLR rates for certain loan tenures by 10 bps, it said in a notification to the BSE.

The revised rates are in the range of 8.70-9.05% for HDFC Bank, and have been made effective today.

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