With positive feedback pouring in from passengers on its "Vikalp" initiative, Indian Railways has decided to launch the Alternative Train Accommodation scheme for wait-listed passengers on five new and busy routes on its network.

Under the scheme, wait-listed passengers are allowed to get confirmed seats on the next alternative train if they choose that option while booking tickets online. The scheme, launched on a pilot basis in November last year, is currently applicable on the Delhi-Lucknow and Delhi-Jammu routes.

Mahindra & Mahindra Financial Services has moved higher to its 52-week high of Rs 295, up 7% on the National Stock Exchange (NSE) in early morning trade after the company's gross non-performing assets (NPA) as percentage to total assets declined to 8% in March 2016 quarter against 10.1% in December 2015 quarter. Net NPA declined to 3.2% from 4.6% during the quarter.

Through increased penetration and close follow up efforts the company has been able to increase overall collections and bring down NPA levels resulting in growth of profits, M&M Financial Services said in a statement.

KOLKATA: Congress vice-president Rahul Gandhi on Saturday launched a scathing attack on the Mamata Banerjee government in West Bengal, saying it has "snatched people's money and savings through the Saradha chit fund scam".

"A government's job is to provide you with health, education and jobs; this government did not do that. But this government snatched all your money, all your savings through the Saradha chit fund scam," Gandhi said at an election rally in Howrah district.

NASA has selected Aerojet Rocketdyne for a $67 million contract to develop an advanced Solar Electric Propulsion (SEP) system for future deep-space missions.

In a press release, NASA stated that the propulsion system could be used on robotic missions to an asteroid and in other missions related to their Journey to Mars program.

Mumbai: Tata Motors Ltd in a notification to the stock exchanges said on 23 April that company’s senior executives and directors will meet on 27 April to consider issuance of rated, listed, unsecured, redeemable, non convertible debentures aggregating up to Rs.300 crore.

It’s part of a plan to issue secured, unsecured non convertible debentures of up to Rs.4,400 crores for the tenure in the range of 2 to 10 years.

HDFC Bank Ltd, India’s most valuable lender, on Friday reported a 20% rise in fourth quarter net profit, in line with analysts’ estimates, as it benefited from loan demand from individuals and mid-sized companies.

Net profit rose to Rs.3,374.2 crore in the three months ended 31 March from Rs.2,806.9 crore in the year-earlier period. A Bloomberg poll of 26 analysts estimated the bank to post a net profit of Rs.3,389 crore for the three months ended 31 March.

The Rashtrapati Bhavan on Friday approved a list of six nominated members to the Rajya Sabha, including senior BJP leader Subramanian Swamy, former Test cricketer and BJP MP Navjyot Singh Sidhu and boxing legend Mary Kom among others.

Economist and former member of the Sonia Gandhi-led National Advisory Council Narendra Jadhav has also been nominated for a Rajya Sabha seat, along with journalist Swapan Dasgupta and Malayalam actor Suresh Gopi.

The Securities & Exchange of India (Sebi) has proposed new norms to allow distribution of cash benefits including dividends, interest and redemption payments through depositories.

Currently, cash benefits are distributed directly by issuer companies to investors mostly through their registrar and transfer agents (RTAs). The proposal comes within a month after the alleged fraud by share transfer agent Sharepro Services which transferred dividends payable to shareholders to fake demat accounts by fraudulent means.

Wipro (Wipro) missed expectations on revenue/margins in Q4 and disappointed on 1QFY17F CC revenue growth guidance of 1-3% q-o-q (vs consensus of 2.4-4.4%), which implies -1% to +1% organic growth (ex HPS acquisition contribution).

The results reinforce our caution on growth/margins at Wipro in light of: its weaker positioning in developed markets (US/Europe), the well-entrenched competition in key growth segments (BFSI, IMS and BPO), limited progress of client mining initiatives; and a likely margin drag as Wipro competes to close growth gaps with peers.

The BSE Sensex and NSE Nifty ended the choppy trade on a flat note on Friday with marginal losses on account of weak cues from global markets. Sensex closed 42.24 points down at 25,838.14, while Nifty settled 12.75 points down at 7,899.30.

In the 50-share index, State Bank of India (SBI), Maruti Suzuki, Bank of Baroda, NTPC and Axis Bank gained between 1.45 per cent and 3.05 per cent. On the other hand, HUL, Asian Paints, HDFC, Sun Pharma and Kotak Mahindra Bank slid between 1.20 per cent and 2.28 per cent.

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