NEW DELHI: Private sector lender HDFC Bank on Friday said it plans to raise Rs 50,000 crore through bonds over one year to fund business growth.

The board has accorded approval for seeking shareholders nod at the annual general meeting (AGM) for issue of perpetual debt instruments, Tier II bonds, senior long-term infra bonds up to a total amount of Rs 50,000 crore in the period of next 12 months through private placement, HDFC Bank said in a regulatory filing.

Mumbai: The Indian rupee strengthened against the US dollar on Friday amid mixed cues from Asian currencies markets and a modest gain in local shares.

The home currency closed at 66.33, up 0.29% from its previous close of 66.52. The rupee opened at 66.49 a dollar and touched a high and a low of 66.28 and 66.56, respectively, in intraday trade.

Tata Motors has secured a patent for its invention regarding an auto stop-start control system for manual transmission vehicles which provides fuel economy with minimal change in driver behaviour.

The desi auto firm claims that the objectives of the present invention are to provide an auto stop-start system for manual transmission vehicles in which an auto stop is prevented from occurring if the engine speed is above the idle speed, and to provide a simple and cost effective vehicle auto stop-start control system.

Infosys, India’s second largest IT services exporter, has introduced a new artificial intelligence (AI) platform called Mana. Infosys Mana brings machine learning together with the deep knowledge of an organisation, to drive automation and innovation.

According to the IT major, Mana, with the Infosys Aikido service offerings will lower the cost of maintenance for both physical and digital assets.

The BSE Sensex and NSE Nifty closed flat on Friday after ICICI Bank Q4 results disappointed markets amid weak global cues. The BSE Sensex closed 3.52 points up at 25,606.62, while NSE Nifty closed 2.55 points up at 7,849.80.

“Benchmark indices toed the flat line for most of the day, before succumbing to selling pressure. Both the Sensex and the Nifty hit a two week low in trade today on the heels of negative global cues. Global markets traded lower after a lack of further stimulus action by the Bank of Japan (BOJ) disappointed market participants.

NEW DELHI: The board of Idea Mobile Commerce Services has approved its proposed amalgamation with Aditya Birla Idea Payments Bank Limited, which will seek licence from the RBI in due course.

Telecom operator Idea Cellular in a regulatory filing said that it has taken note of the approval of a draft scheme of amalgamation by the board of directors of its wholly owned subsidiary Idea Mobile Commerce Services Limited (IMCSL).

The combination of low gasoline prices and record auto sales in the United States is making for good times in the auto industry, and nowhere is that more evident than at Ford Motor.

Ford, the No. 2 American carmaker, on Thursday reported a record $2.5 billion in net income for the first three months of the year, an increase of 113 percent and more profit than in any other quarter in its 112-year history.

ICICI Bank's senior management will not receive performance bonus for FY16, Managing Director and Chief Executive Officer Chanda Kochhar said in an analysts' conference call on Friday.

The decision comes at a time when the bank is reeling under bad loans, which are expected to remain elevated in the coming quarters. Also, the management has forecast lower net interest margin, a key indicator of profitability, by 20 basis points in FY17. For FY16, NIMs were recorded at 3.49 per cent.

ITC is shifting its headquarters of Rs 8,000-crore agri-business division, currently at Hyderabad, to Guntur, along with a plan to expand into new commodities, including food-safe spices and millets.

"We are planning to build half-a-million square foot of residential and office space to locate the headquarters of the agri-business division here. The spending may be around Rs 200 crore," ITC chairman Y C Deveshwar said on Friday. He was here for the foundation-laying for the company's My Fortune hotel here. The 144-room hotel is being built at an investment of Rs 145 crore. The company proposes to start operations in the new hotel in 2019.

Mumbai: The Indian rupee on Thursday closed weaker against the US dollar, after local equity market fell over 460 points.

The home currency closed at 66.52, down 0.1% from its previous close of 66.45. The rupee opened at 66.38 a dollar and touched a high and a low of 66.38 and 66.55, respectively in intraday trade.

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