The National Highways Authority of India (NHAI) today said it has awarded a Rs 820 crore highway project in Rajasthan to PNC Infratech.

“NHAI has issued letter of award (LOA) for development of NH-11A (Extn) 4-laning/2-laning with paved shoulder of Dausa-Lalsot-Kauthun section to PNC Infratech Ltd,” NHAI said in a statement.

Indian Oil Corporation will on September 9 send seven tankers of diesel and kerosene to Tripura via Bangladesh for the first time to avoid fuel crisis in the North Eastern state, as the dilapidated condition of NH-44 in Assam has made the transportation difficult.

IndianOil-AOD, the company’s North East division, will move kerosene and diesel from Betkuchi depot in Guwahati to Dharmanagar depot in Tripura in the first consignment through the neighbouring nation.

Mahindra & Mahindra (M&M) has rebranded its electric mobility portfolio as Mahindra Electric aiming for a greater focus on technology and launch more electric models, besides supplying powertrains to other manufacturers.

Under the umbrella brand Mahindra Electric, the company will manufacture electric cars, license out electric vehicle technologies, electrify new and existing platforms and help deliver integrated zero emission mobility solutions.

Software services firm Wipro has bagged a three-year IT contract from NSB Group, one of Norway’s largest transportation groups.

As part of the agreement, Wipro will implement its datacenter (BLDC) and workspace solutions and utilise its delivery framework to deliver services that will help NSB variablise their IT operations, Wipro said in a statement.

Bharat Heavy Electricals Limited (BHEL) shares soared as much as 16.66 per cent on Wednesday after the company posted 54.21 per cent increase in its net profit at Rs 77.77 crore for the quarter ended June 30, 2016 as compared to Rs 50.43 crore in the same quarter last year. Total income of the company jumped by 20.84 per cent to Rs 5,871.78 crore for the quarter under review from Rs 4,858.95 crore in the same quarter last fiscal. At 2.58 pm, shares of the company were trading 14.67 per cent up at Rs 158.45.

The oldest bourse in Asia, Bombay Stock Exchange (BSE) is all set to file the draft prospectus for its initial public offering. Yes, like many other stock exchanges across the globe, BSE is looking to list itself on the exchange, as reported earlier. This might not come as a surprise a to veteran stock analysts but to the investors it surely is.

Business Standard brings you a report on what you, the investor, should know about this huge IPO.

Banking stocks continued to gain ground on Wednesday, with the Nifty Bank index hitting a high of 20,575.80 in intra-day deals on the National Stock Exchange (NSE). Top gainers include Federal Bank, IndusInd Bank, Bank of India, HDFC Bank, State Bank of India (SBI) and Axis Bank that hit their respective 52-week high levels.

Nifty PSU Bank index was the largest gainer among sectoral indices, up 0.7% at 10am. By comparison, the benchmark index, the Nifty 50 was trading 0.1% lower at 8,930 levels.

Recent government initiatives to ease the construction sector's woes have come at a time when the sector's growth has slumped to 1.5 per cent in the first quarter of this financial year from 5.6 per cent a year before. Besides reducing the burden of companies, struggling with high debt, these steps are expected to reduce the problem of bad loans.

Commercial vehicle (CV) makers Tata Motors and Ashok Leyland have seen a sharp rise in bus orders from state transport undertakings (STUs). The two firms have together bagged orders for 8,600 buses worth about Rs 1,500 crore in the first five months of the current financial year. Most of these orders will be executed during the current financial year. STUs account for bulk of bus purchases in the country.

Mumbai: Private sector lender Yes Bank Ltd is gearing up to make a debut in the offshore bond market with a five-year dollar bond. The bank is looking to raise $300-500 million before March 2017 to avail cheaper funding for its offshore lending branch at GIFT City in Gandhinagar, Gujarat, said two people from the bank.

The offshore branch is meant to function as a foreign branch of the domestic bank and lend in foreign currency. GIFT City is India’s first international finance centre.

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