State-owned Oil and Natural Gas Corp (ONGC) will have to shell out Rs 392 crore and Oil India Ltd over Rs 1,100 crore after the government ordered them to pay royalty at gross crude oil price and not the net rate they actually realise.

"We have to pay a total of Rs 392.50 crore to implement the order to pay royalty to state governments on revised terms from back date of February 2014," a senior ONGC official said.

Leading bourse the National Stock Exchange (NSE) will auction investment limits for overseas investors for the purchase of government debt securities worth Rs 7,264 crore on Monday.

The auction will be conducted on NSE's e-bid platform from 1530 hours to 1730 hours, after the close of market hours.

Ashok Leyland has said that its growth plans for the near future would be centred on activities sticking to the core business, emphasis on international markets and expansion, reinforced focus on defence-related business, growth on its in-house engines and customer satisfaction.

Calcutta, July 20: Infosys, the country's second largest software services company, plans to meet Bengal's information technology minister Bratya Basu soon to urge the state government to consider its proposal for a special economic zone (SEZ) status for its Rajarhat venture, a top company official said.

"I am planning to meet the new IT minister in 15-20 days and will wait for the response and then take a call," said Ramadas Kamath, executive vice-president and head - infrastructure - at Infosys.

Bengaluru: Indian shares fell on Thursday to post their biggest daily percentage loss in four weeks after earnings from HDFC Bank Ltd and Kotak Mahindra Bank Ltd raised some concerns about bad loans ratios in the sector.

HDFC Bank fell 0.3%, while Kotak Mahindra Bank fell 2.71%. Both banks hit record highs earlier in the session.

Seven Indian companies have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue with the retail giant Walmart topping the global rankings. Indian Oil Corp is ranked highest at 161st among Indian firms, while another state-run firm ONGC has moved out of the rankings for 2016. Private gems and jewellery major Rajesh Exports has made its debut at 423rd position.

Hinduja flagship firm Ashok Leyland today reported over two-fold jump in net profit at Rs 290.78 crore for the first quarter ended June 30, riding on robust volume growth.

The company had posted a net profit of Rs 144.49 crore in the same period last fiscal, Ashok Leyland said in a BSE filing.

With revenue growth of 2% q-o-q CC, WPRO met its guidance for Q1FY17. However, the 0-1% q-o-q CC guidance for 2Q ruled out potential of bridging growth gap to peers in the foreseeable future. Continued drag in the Energy vertical, sluggishness in top accounts and restructuring in the India and Middle East business may continue to weigh on overall revenue growth.

IT Services EBIT margin of 17.8% declined by 190 bp q-o-q (marginally below our estimate of 18.1%).

Kotak Mahindra Bank plunged over 2 per cent in the afternoon trade on Thursday after the company posted lower-than-expected financial results for the quarter ended June 30, 2016. However, the bank reported 291 per cent rise in net profit at Rs 741.97 crore for the quarter under review against Rs 189.78 crore in the same quarter last year. Net interest income of the bank jumped to Rs 1,919.10 crore, up 20 per cent, against Rs 1,598.18 crore in the corresponding quarter last year.

HDFC Bank on Thursday reported 20 per cent rise in net profit at Rs 3,238.91 crore for the quarter ended June 30, 2016 against Rs 2,695.72 crore in the corresponding quarter a year ago, which is in line with expectations.

Net interest income of HDFC Bank jumped 21.80 per cent yoy to Rs 7781.44 crore during the quarter under review against Rs 6388.77 crore in the corresponding quarter last year.

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