Larsen & Toubro (L&T) Infotech was down 1% at Rs 638, trading at its lowest level since listing in July this year.

The stock is currently quoting 10% below its initial public offer (IPO) price of Rs 710. The company issued shares at Rs 710, a discount of Rs 10 per equity share, to retail investors.

Markets finished the session on a marginally higher note amid choppy session as investors turned cautious ahead of August F&O expiry and signals on key policy rates from US Federal Reserve Chair Janet Yellen at a meeting scheduled this week.

The S&P BSE Sensex ended up 70 points at 28,060 and the Nifty50 rose 18 points to settle at 8,650. In the broader market, the BSE Midcap and Smallcap indices ended up nearly 1%, outperforming the benchmark indices.

Mumbai: On 18 July, India’s capital markets regulator unveiled yet another set of proposals for real estate investment trusts (REITs).

It took the Securities and Exchange Board of India (Sebi) over eight years and multiple attempts to put the right rules in place to convince Indian companies to launch these products.

Mumbai: State Bank of India (SBI) on Wednesday said that its committee of directors for capital raising had authorised the bank to raise Rs.11,100 crore worth additional Tier-I (AT-1) capital through issuance of Basel III-compliant perpetual debt instruments.

In a notification to the stock exchanges, the bank said that these perpetual debt instruments will be issued in dollar or rupee terms through private placements to domestic and/or international investors, in as many tranches as it may be considered appropriate by the lender.

Bengaluru: Infosys Ltd can expect about $60 million (Rs.400 crore) in incremental revenue over the third and fourth quarters as part of the Rs.1,380 crore Goods Services and Tax Network (GSTN) project, as the Bengaluru-based company readies to buy and install the hardware required for the project.

This new or incremental business should cheer Infosys as the company’s revised lower growth target for this year has been put to test after the management disclosed earlier this month that it had lost a large order from Royal Bank of Scotland Plc.

Volvo India Private Ltd (VIPL), an Indian arm of the Swedish commercial vehicle major, is scouting for additional land near Bengaluru to expand its operations. The company currently operates its truck and bus manufacturing plants at Hoskote on the outskirts of Bengaluru.

“We are looking for an additional 30-40 acres land near our existing facility to create new capacity and other infrastructure facilities to support our manufacturing operations.

Private sector lender YES Bank became the latest entrant in the credit card space on Tuesday. Going ahead, the lender has planned an aggressive push as it aims to capture a market share of 17-18 per cent in the next five years.

“Several foreign banks have not been aggressive in the credit card space and that will also help us to increase our market share. In the next five years we plan to issue 4-5 million credit cards and capture a market share of 17-18 per cent. We want to be one of the top three players in the next five years,” said Pralay Mondal, senior group president, YES Bank.

India has figured among the top 10 wealthiest countries in the world with a total individual wealth of $5,600 billion (nearly Rs 372.5 lakh crore) while the United States topped the chart.

According to a report by New World Wealth, India was ranked 7th ahead of Canada ($4,700 billion or nearly Rs 312.7 lakh crore), Australia ($4,500 billion or Rs 299.4 lakh crore) and Italy ($4,400 billion or Rs 292.7 lakh crore), which came in at 8th, 9th and 10th slots, respectively.

The Centre has rejected a proposal of software major Infosys to set up an IT special economic zone (SEZ) in West Bengal due to lack of state's recommendation.

The decision was taken in a meeting of the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, on August 12.

In an effort to improve investor experience, capital market watchdog Sebi is considering a proposal to distribute cash benefits through depositories.

"Sebi is considering a proposal for distributing cash benefits through depositories," the markets watchdog said in its annual report for 2016-17.

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