In view of rising non-performing assets (NPAs) in the corporate sector, State Bank of India (SBI) has moved towards a projected-cash-flow financing from the earlier practice of balance-sheet financing.

“We have moved to cash-flow financing from balance-sheet funding,” said Rajnish Kumar, managing director, SBI.

Mumbai: Indian equities climbed the most in 10 days, led by automakers, as Asian stocks ended a six-day run of losses after investor expectations for an US interest-rate increase eased and foreigners turned buyers of local shares for the first time in four days.

The gains helped the S&P BSE Sensex and the NSE Nifty 50 Index pare this week’s loss, the first in three weeks. Reports on Thursday showed US factory output fell more than forecast, while retail sales unexpectedly slid, sending the odds for a rate increase from the Federal Reserve next week to below 20%.

Mumbai: The Securities and Exchange Board of India (Sebi) is examining whether its listing norms were breached in Yes Bank’s aborted $1 billion qualified institutional placement (QIP), said five people familiar with the matter, including officials of the capital markets regulator.

Sebi is also looking into the possibility of entities trading the stock on the basis of insider information, the people said on condition of anonymity.

Amid simmering tension and ongoing parleys between new entrant and private incumbent operators over connectivity, state-owned telecom firm BSNL has said it has provided “sufficient points of interconnect” to Reliance Jio and can augment it more based on requirement.

Bharat Sanchar Nigam Ltd (BSNL) CMD Anupam Shrivastava said that there has been no fresh request from Jio for increasing the capacity at points of interconnect, and added “should they make an enquiry, we will augment the capacity.”

Ratnagiri Gas and Power Private Limited’s (RGPPL) efforts to build a breakwater facility and ramp up production at an LNG regasification unit have been stalled, with key promoter NTPC declining to pump in the required R600 crore. Bankers told FE the state-owned energy major is reluctant to put in its share of money unless a long-term power purchase agreement (PPA) is signed with Indian Railways.

Shares of oil marketing companies (OMCs) such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were trading higher in the early trade on Friday after they revised fuel prices. Petrol prices increased by 0.58 per litre while diesel prices decreased by Rs 0.31 per litre.

IOC shares advanced as much as 0.9 per cent in the early trade. At 9.35 am, the scrip was trading 0.60 per cent up at Rs 561.85.

To collect funds for repayment to investors, markets regulator Sebi will next month conduct an auction of three properties of West Bengal-based Tower Infotech Ltd, which had garnered money through illegal pooling schemes.

The Securities and Exchange Board of India (Sebi) has initiated the process for sale of assets of Tower Infotech Ltd, as per an order from Calcutta High Court, under which the auction would be conducted for sale of the company's assets.

Reliance Industries (RIL) was up 2.2% at Rs 1,089, extending its Thursday’s 2% gain on the BSE. The stock is currently trading close to its 52-week high of Rs 1,090 touched on January 15, 2016 in intra-day trade.

In past two-weeks, the stock has outperformed the market by gaining 7.5% as compared to 0.72% rise in the Nifty 50 index.

India's largest mobile payment and commerce platform, Paytm has emerged as the most credible and convenient payment option on the IRCTC platform.

The Paytm Wallet is already accepted on the IRCTC platform and this native integration of Paytm's payment gateway to IRCTC's app is a showcase of its trust in Paytm's technology.

The total addressable market for the Indian business process management (BPM) sector is expected to be $54 billion by 2025, growing at eight to nine per cent yearly, says Nasscom, the apex body of the information technology and BPM sector.

Over the next five to seven years, global BPM spending is expected to grow six to seven per cent annually and reach $233 bn by 2020, it said.

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