Shares of ONGC and Oil India gained on Wednesday after a business daily reported that oil companies got government nod to increase kerosene price by 25 paise every month till April 2017.

At 10.26 am, shares of Oil India were trading 3.47 per cent up at Rs 378.45. The scrip opened at Rs 372 and has touched a high and low of Rs 380.90 and Rs 372, respectively, in trade so far.

The US car major Ford launched its iconic sports car 'Mustang' in India, priced at Rs 65 lakh (ex-showroom Delhi).

This is the first time in Mustang's 52-year history that the company has launched the model in India.

Bharti Airtel, which offers services in 16 African countries, and Apollo Hospitals have signed a Memorandum of Understanding (MoU) to enhance healthcare cooperation across Africa.

The service will enable Airtel Africa customers access personalised advice in real time, thereby bringing world-class healthcare services at their fingertips.

MUMBAI: Across-the-board buying, backed by strong global cues, expectations of better corporate numbers, fall in crude oil prices and good progress of the monsoon pushed the sensex to near its 11-month high at 26,647 points on Monday with 29 of its 30 constituents closing with gains.

Talks about a possible support from Congress party for the passage of the GST bill in Rajya Sabha also added to the positive sentiment, dealers said.

NEW DELHI: The government may hold on to its shares in blue chips such as ITC and L&T despite the Specified Undertaking of Unit Trust of India (SUUTI) seeking bids from merchant bankers to advise the agency on its holdings that span across sectors.

While several experts have suggested that SUUTI, which is wholly owned by the government, sell some of the marquee stocks instead of divesting stake in PSUs to raise money, a source in the government said that rushing in with the sale may not be prudent.

New Delhi: India and Kenya on Monday signed seven agreements, including one on the avoidance of double taxation and another to boost defence cooperation, during Prime Minister Narendra Modi’s two-day visit to the African nation.

Modi also announced the extension of a concessional line of credit of $44.95 million to the east African nation to help it in developing small and medium enterprises (SMEs) and textiles.

The Employees Provident Fund Organisation (EPFO) has decided to let UTI Mutal Fund manage 10% of its fresh investment in the stock market for the 12-month period starting with July 2016. SBI Mutual Fund will continue to manage the lion’s share of the EPFO’s ETF corpus, a source said.

Since the beginning of its foray into the stock market from August last year, the retirement fund body has invested R7,000 crore till June, which has yielded 7.45% returns. Exchange Traded Funds, or ETFs, are funds that invest in various securities and are traded on stock exchanges.

In its analyst meet on Friday, HPCL management raised its standalone capex guidance significantly to R53,400 crore over FY17-21 vs R31,000 crore over FY16-20 earlier.

Majority of the capex increase appears to be in the marketing segment which management attributed to new LPG bottling plants, lube blending plants and product pipelines.

The $100-billion Indian IT services export industry is unlikely to see a major impact from the new Bill proposed by two US lawmakers seeking further restrictions on H-1B and L-1 visas as the planned legislation is not expected to pass in the current form even as India centric technology companies have increased their hiring of American citizens.

Coal India has lost almost 2% to Rs 314.30 on the BSE after the company said its board approved buyback of shares at a price of Rs 335 per share.

The announcement was made after market hours yesterday, 11 July 2016. On BSE, so far 1.24 lakh shares were traded in the counter as against average daily volume of 3.73 lakh shares in the past two weeks.

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