Wipro has gained 4% to Rs 592 on the BSE in early morning trade after India's third largest software exporter announced that it will consider a proposal to buy back shares of the company on April 20.

“The board of directors will consider a proposal for buyback of equity shares of the company on April 20, 2016,” Wipro said in a BSE filing.

Axis Bank became the first bank to reduce its key lending rate after the Reserve Bank of India (RBI) reduced its repo rate by 25 basis points last week.

The country’s third largest private sector lender cut its marginal cost-based lending rate (MCLR), the benchmark for pricing loans, by 15 basis points across all tenors. Axis Bank also reduced the base rate by 5 basis points to 9.45 per cent from 9.50 per cent effective April 18. Commercial banks moved to the new loan pricing regime from April 1.

The Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday floated an Expression of Interest (EoI) to develop its oil and gas blocks, including some of the discoveries in the KG-D6 block off the coast of Andhra Pradesh.

RIL is eligible to a higher price for natural gas produced from these discoveries under the new norms if it withdraws arbitration proceedings against the government. RIL currently has four blocks, though development programmes in both the KG-D6 and NEC blocks was on hold, waiting for clarity on the gas price.

For months, the National Stock Exchange of India Ltd (NSE) had dismissed allegations that one of its trading members had unfair access to its market data and trading systems. It even slapped a defamation case against Moneylife magazine, when it wrote on these allegations citing a whistleblower’s letter.

But now, the Securities and Exchange Board of India’s (Sebi’s) technical advisory committee has found evidence that NSE violated norms of fair access and allowed some brokers to benefit.

New Delhi: Delhi chief minister (CM) Arvind Kejriwal on Tuesday praised Prime Minister Narendra Modi for making efforts to resolve the water crisis in drought-hit Latur and sought his help to send water to the parched district in Maharashtra’s Marathwada region.

Kejriwal in a letter to the Prime Minister said the people of Delhi are ready to send 10 lakh litres of water per day to Latur for the next two months and demanded that the Centre make arrangements for transportation.

New Delhi: The Reserve Bank of India (RBI) on Tuesday resisted the idea of disclosing information on defaulters owing Rs.500 crore or more to public sector banks pursuant to an earlier order.

“A blanket disclosure of commercial information is not encouraged as it will affect our fiduciary relation with third parties and destroy public confidence.” J.L. Gupta, counsel for RBI told the court.

Coal India has dipped 3% to Rs 272, its lowest level since March 23, 2014 on the National Stock Exchange (NSE), after the company decided to give up performance incentive for supply of higher grades of coal and to improve lifting of coal.

“The company’s board on 11th February 2016, accorded its approval for giving up performance incentive for supply of higher grades of coal (G5 and above) in the Model Fuel Supply Agreement for power and non-power with immediate effect and to improve lifting of coal,” Coal India said in a statement.

Automaker Ford India on Tuesday opened a technical training facility in the northern region at Manesar to create a pool of trained and talented technicians.

Established in partnership with Technical Training Inc, the facility is spread over 18,000-sq-ft and will provide training to over 13,500 training days per year, Ford India said in a statement.

New Delhi, April 11: Finance minister Arun Jaitley today advised states to stick to fiscal discipline, spend on infrastructure and development activities and use Aadhaar to transfer benefits to people.

"All of us will have to spend within means. Ever since we have shown this tendency of spending more yet sticking to fiscal discipline, this has brought immediate results in terms of interest rates and India's credibility," Jaitley said at the second conference of state finance secretaries.

NASA experienced a close call this weekend with its planet-seeking Kepler space telescope. On April 7th, during a scheduled contact, mission operations engineers discovered that Kepler was in Emergency Mode (EM). It was the first time the spacecraft had been in EM in its 7-year lifetime and NASA is currently working to understand why it happened now.

Because of Kepler’s orbit, engineers had to remotely troubleshoot the spacecraft from 75 million miles away. Making matters especially difficult, any signal sent from Earth takes 13 minutes traveling at the speed of light to travel to the spacecraft and return back home.

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