After the strong Q3, we had expected Hindustan Petroleum (HPCL)’s Q4 to be stronger. HPCL reported stronger than our expectations and beat our earnings estimates for both refining and marketing. Q4 EBITDA of `25.9 billion (+19% q-o-q) was 10% ahead of our estimate. Refining GRM was $7.5/bbl, vs our estimate of 5.8/bbl. The discount to Singapore complex margin remains very low at -$0.3/bbl (-$0.1/bbl in Q3).

Reliance Communications (RCom), the country’s fourth largest telecom operator, which has been looking to create a 50:50 joint venture with Aircel promoted by Maxis Communications, expects to close out the deal by the end of June.

The new entity, a senior executive observed, should kick off operations with revenues of around Rs 25,000 crore.

The benchmark BSE Sensex was trading in the green ahead of the Reserve Bank of India's second bi-monthly policy meet this fiscal. At 1027 hours, Sensex was at 26,877.01, up 99.56 or 0.37% from the previous day's close.

In his second-last policy meet before term-end, experts say that the RBI Governor is expected to keep the repo rate unchanged after it was cut by 25 bps in the last policy meet.

Shares of ICICI Bank have surged 2% to Rs 248 on the BSE after the private lender decided to raise Rs 25,000 crore in tranches via private placement of bonds, debentures and securities, including bonds and non-convertible debentures (NCDs).

During the AGM, the bank will seek approval from shareholders to raise up to Rs 25,000 crore. The capital will be raised over a span of one year from the date of passing of the resolution.

Shares of Tata Motors and Tata Motors DVR (differential voting rights) have touched their respective 52-week highs on the BSE in intra-day trade Tuesday on strong retail sales in May by its UK subsidiary and luxury car maker Jaguar Land Rover (JLR).

“The all-new Jaguar F-PACE helped propel JLR to its best ever May, with retail sales of 44,946 vehicles, up 18% on May 2015,” Tata Motors said in a press release.

In wake of the emission scandal, Volkswagen today said it will recall 1.9 lakh cars sold in the country starting next month to fix the emission software.

The company said that the recall is purely voluntary in nature as it did not face any charges regarding violating emission norms in India unlike the US.

Mumbai: Reliance Industries Ltd (RIL) on Friday said it has restarted its purified terephthalic acid (PTA) plants at Dahej and is ramping up production to full capacity.

Executives from the sinking micro-blogging website Twitter have met Yahoo CEO Marissa Mayer to discuss merger possibilities, the media reported.

At the management meeting, Twitter and Yahoo executives spent several hours hashing out Yahoo’s financials and whether a strategic combo might make sense, a source close to the talks told the New York Post on Friday.

The Indian Army, under its welfare and development initiative, Operation Sadbhavna has tied up with Tata Motors for training of Kashmir youth as Automobile Service Technicians.

The first thirteen-week certified training course has been scheduled at the TATA Motors facility at Ropar, Punjab. 29 younsters from Kashmir have been selected for this course.

The Income Tax department has launched an ATM-based validation system for filing e-ITRs by taxpayers as part of its measure to enhance the paperless regime of filing the annual IT returns.

"Now, Electronic Verification Code (EVC) can be generated by pre-validating your Automated Teller Machine (ATM) provided by the bank where a taxpayer has an account. While SBI has activated the facility beginning yesterday, other banks will follow soon," a senior IT official said.

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