Air India Express (AIE), the no-frills brand of Air India, is exploring a foray into the domestic market.

AIE presently serves migrant labour and business traffic between India and West Asia. Its main bases are in Kerala and it is preparing for expansion. That could include flights on domestic routes. While the immediate focus is on growing its business in established markets, it is hiring a consultant to prepare a network plan and evaluate all potential routes, domestic and international, which could be served profitably.

Homegrown auto major Mahindra & Mahindra on Monday launched a new Bolero with mHawk D70 engine priced at Rs 6.59 lakh (ex-showroom Mumbai) for the SLE BS4 variant.

Christened as 'New Bolero Power+', its engine delivers 13 per cent more power and 5 per cent more mileage over the existing Bolero, M&M said in a BSE filing.

MUMBAI: Set to dilute 12 per cent stake in ICICI Prudential Life Insurance through an IPO, country's biggest private sector lender ICICI Bank has said it will offload another 6 per cent in the insurance arm over the next three years.

ICICI Prudential Life Insurance, the country's first insurer to launch a public offer, has fixed IPO price band at Rs 300-334 per equity share to raise around Rs 6,000 crore.

HP is buying Samsung’s printer business for $1.05 billion in a move aimed at “disrupting” the dusty and stale printing industry.

The deal will see Samsung’s Printing Business Unit spun out independently, with HP picking up full 100 percent ownership in the business. The companies estimate it will take one year to close, pending the usual regulatory scrutiny, and, upon doing so, Samsung will make a reciprocal investment of between $100 million and $300 million into HP’s business.

Mumbai: State-run Hindustan Petroleum Corp. Ltd (HPCL), one of the promoters of Mangalore Refineries and Petrochemicals Ltd (MRPL), wants Oil and Natural Gas Corp. Ltd (ONGC) to divest a part of its stake in the refinery so that it can meet minimum public shareholding norms, said two HPCL officials aware of the development.

At the end of June, HPCL held a 16.95% stake in MRPL, and ONGC, the other promoter, owned 71.6%. The public shareholding in MRPL was 11.42%, less than half the 25% prescribed by the Securities and Exchange Board of India (Sebi).

Mumbai: The Securities and Exchange Board of India (Sebi) is considering allowing foreign portfolio investors (FPIs) who trade in the Indian markets through brokers to become members of stock exchanges in what could potentially be a big blow to local brokerages. The capital markets regulator is also considering asking companies to seek minority shareholder approval to grant special rights to private equity (PE) investors, a move that is unlikely to be popular with the latter.

In a digital initiative by State Bank of India subsidiary SBICAP Securities launched an upgraded version of its online trading platform - sbismart.com on Friday. The new HTML5 platform will be accessible across all devices such as smart phones, tablets and desktops.

The platform also offers customers other products and services, such as home and car loans apart from guides and educational content for investors.

NEW DELHI: Saddled with a debt of almost Rs 50,000 crore, Air India is trying to restructure the Rs 28,000 crore working capital portion of this burden. The airline's top brass had an informal meeting with State Bank of India management last week in Mumbai where the Maharaja requested that SBI Caps be asked to examine the possibility of converting a part of the working capital debt into equity.

BSE opened down nearly 546 points on Monday morning, continuing the downward streak, taking a hit from the weak cues from the international markets.

Markets opened down 546 points at 28,251.31 from Friday's close.

YES Bank has dipped nearly 6% to Rs 1,202 in intra-day trade, extending its over 10% decline in the past three trading sessions on the BSE, after the private sector lender said it has deferred its proposed qualified institutional placement (QIP) of shares.

At 10:56 am, the stock was down 4.5% at Rs 1,219, falling 15.4% in past four trading sessions from Rs 1,441 on September 9, wiping out nearly Rs 9,500 crore in investor wealth. The S&P BSE Sensex has declined 2% during the same period.

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