MUMBAI: A consortium of 11 lenders led by Bank of Baroda has filed a complaint with the Economic Offences Wing against C Mahendra Exports for defrauding them by selling assets mortgaged with the banks. Collectively, the banks have an exposure of Rs 1,300 crore, including principle and penal interest, with the firm that manufactures and exports large diamonds.

NEW DELHI: Maruti Suzuki India today said its mid-sized sedan, Ciaz, has crossed the one lakh cumulative sales mark in the domestic market in June, nearly two years after its launch.

Launched in October 2014, Ciaz sold a total of 1,00,272 units till June 2016, Maruti Suzuki India (MSI) said in a statement.

Soon after filling up its coffers by offloading the shares of its subsidiaries, Coal India is set to make the government richer.

The state-owned mining major has decided to go for buyback of its shares and a meeting of the Board of directors has been convened on July 11 to take a final call, Coal India said on Tuesday.

Indian equity, debt and commodity markets are closed today on account of Id-Ul-Fitr (Ramzan Id).

On Tuesday, benchmark share indices snapped their six-day winning as investors booked profits tracking weakness in global stocks while degrowth in services PMI data also dampened sentiment.

The first-of-its-kind auction of properties undertaken by the Securities and Exchange Board of India (Sebi) to recover its dues from the Sahara group got underway this week.

"In the e-auction that began on Monday, the response of buyers was lukewarm. But, HDFC Realty closed a sale," said an official familiar with the sale process. The transaction fetched nearly Rs 58 crore, he added without disclosing the location of the property.

Axis Bank, the country’s third largest private sector lender, has got the approval of the Cabinet Committee on Economic Affairs (CCEA) to raise its foreign shareholding to 74 per cent from 62 per cent.

According to guidelines, foreign shareholding in a private bank cannot exceed 74 per cent. This 12 per cent hike of foreign shareholding is likely to bring in investments of Rs 13,000 crore.

Information technology (IT) major Wipro has said it would stall its plans for a second campus in Kolkata if it is denied the special economic zone (SEZ) status.

Information technology (IT) major Wipro has said it would stall its plans for a second campus in Kolkata if it is denied the special economic zone (SEZ) status.

Mumbai: The Indian rupee weakened against the US dollar, while the benchmark 10-year bond yield closed at a three-year low on Tuesday, on anticipation of rate cuts on reduced monsoon deficiency and as global bond yield prices fell.

The home currency closed at 67.46, down 0.28% from its previous close of 67.27, while the benchmark 10-year bond yield fell to 7.39%—a level last seen on 20 June 2013, from its previous close of 7.425%.

Ashok Leyland has dipped 5% to Rs 93.30 in intra-day trade, extending its Monday 2% decline on the BSE, after the company reported single digit growth in total sales for the second straight month.

Ashok Leyland reported 7% increase in total sales at 11,108 units in June 2016 against 10,429 units sold in June last year. Total sales of the company rose by 6% in May 2016 to 9,875 units from 9,290 units in a year ago month.

New Delhi, July 4 (PTI): Indian Oil Corporation (IOC) will invest Rs 40,000 crore to expand its refining capacity to over 100 million tonnes (mt) by 2022 as the nation's largest oil company looks to add capacity to meet the country's rising energy needs.

"As we see, (fuel) demand is expected to grow at 3.5-4 per cent CAGR and we need to build capacities to meet that requirement," IOC director (refineries) Sanjiv Singh said.

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