The petroleum ministry’s technical arm Directorate General of Hydrocarbons (DGH) is likely to take into consideration capital and operational expenditure incurred by Reliance Industries (RIL) while computing the penalty being imposed on the firm in regard to its commercial production of gas migrated from state-run ONGC’s 98/2 area to RIL’s KG-D6 block.

Public sector bank State Bank of India (SBI) has stated that it will re-issue approximately six lakh debit cards to customers after cards were blocked due to a malware-related security breach in a non-SBI ATM network, reported Times of India.

Customers who have used their cards only at SBI ATMs have not been affected. SBI's chief technology officer (CTO), Kumar Bhasin, told TOI, "A few ATMs have been affected by a malware.

In a major breakthrough in speech recognition, researchers at Microsoft claim to have developed the first technology that recognises the words in a conversation as well as humans do.

A team of researchers and engineers in Microsoft Artificial Intelligence and Research created a speech recognition system that makes the same or fewer errors than professional transcriptionists.

Wipro, India's third largest software exporter is expected to see subdued growth and see pressure on margins in the second quarter.

Wipro, which is expected to post results on Friday, has 0-1 per cent sequential growth in revenue; while pointing to factors like uncertainties in the BFSI vertical, continued weakness in energy vertical may arrest its revenue growth towards the lower end of the range.

MUMBAI: Market came under a spell of volatility on Wednesday as the Sensex slipped into the negative zone from a positive start after profit-booking resurfaced at FMCG, auto and realty counters despite higher Asian cues.

Investors went in for profit-booking after Tuesday's biggest single-day rebound in close to five months. But oil and gas, healthcare, energy, utilities, consumer durables, power and IT sectors saw continued buying interest.

Mumbai/New Delhi: Infrastructure conglomerate GMR Group has initiated discussions with SembCorp Industries Ltd of Singapore and US-based Lone Star Funds for selling a significant stake in GMR Chhattisgarh Energy Ltd (GCEL), a 100% subsidiary of GMR Energy Ltd (GEL), three people familiar with the matter said. The move is part of the group’s efforts to bring down its debt that stood at Rs43,400 crore at the end of September.

Thanks to its efforts at improving efficiency in exploration, government-owned ONGC has broken the declining trend in its oil and gas output from onshore assets that prevailed for the past four years.

The production from onshore assets rose nearly 3% to 1.498 million tonnes in the second quarter of FY17 from 1.454 million tonnes in the first quarter of the fiscal.

With a bumper Navratri behind them, carmakers are gearing up for a big Diwali. Dealers for the country’s top two players — Maruti and Hyundai — told FE retail sales have risen 15-16% during the nine-day-long festival driven by fairly chunky discounts. Channel checks by Bank of America Merrill Lynch reveal retail sales are 10-15% higher for most passenger vehicle makers.

Home-grown auto major Tata Motors has increased prices of its passenger vehicles by up to Rs 12,000 across models to offset rising input costs.

“We have hiked prices of our passenger vehicles by one per cent ranging between Rs 5,000 and Rs 12,000 due to rising input costs,” Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors, told PTI.

State-owned Coal India (CIL) will tomorrow begin special spot e-auction of coal and will put on offer 20 mt of the fossil fuel for various sectors, including power, amid government’s efforts for 24×7 power to all.

According to an official, the auction will be conducted for four days beginning tomorrow.

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