State-run Indian Oil will more than treble its capex to Rs 1.75 trillion over the next seven years against what it spent in the past five years, with a view to expand refining output by 54 per cent to around 100 mt tonnes, investing Rs 50,000 crore in brownfield expansion alone.

For the current Plan period (12th Plan ending 2017), nation’s largest refiner Indian Oil Corporation (IOC) has set aside Rs 56,200 crore in capex, most of which went into the 15 million tonnes (mt) Rs 34,500-crore greenfield refinery in Paradeep that will go onstream from late next month or early November, chairman B Ashok said here today.

Sadbhav Infrastructrure Projects (SIPL) shares made a robust debut on stock exchanges on Wednesday. The share price of the company listed at Rs 110.75 on BSE as compared to its issue price of Rs 103. It listed at Rs 111 on NSE.

At 10.16 am, shares of the SIPL were trading 7.28 per cent higher at Rs 110.50 apiece on BSE as compared with its issue price of Rs 103. It opened at Rs 110.75 and touched a high and low of Rs 112.25 and Rs 108.60, in trade so far.

Facebook may finally be getting a button that lets you quickly express something beyond a ”like.”

Founder and CEO Mark Zuckerberg said Tuesday that people have been asking for a ”dislike” button on the social media site for years.

State-owned petroleum explorer Oil and Natural Gas Corporation (ONGC) announced it would be implementing 12 projects worth a combined Rs 13,000 crore by the end of May 2016, seeking to gain from low oilfield services and equipment costs in the current depressed crude oil price scenario.

“Nine projects with an investment of around Rs 22,000 crore have already been completed till now in 2015-16,” Chairman and Managing Director D K Sarraf told shareholders at the 22nd annual general meeting here.

Goldman Sachs on Tuesday upgraded private lenders Axis Bank, ICICI Bank and YES Bank to ‘Buy’ from ‘Neutral’ citing attractive entry after recent underperformance on bad loans concerns.

Axis Bank, ICICI Bank and YES Bank closed 2.67 per cent, 1.12 per cent and 0.28 per cent lower at Rs 482.75, Rs 269 and Rs 729.35, respectively, on Tuesday.

The country's largest bank, SBI, has taken yet another e-initiative to revamp its image and connect with the natty Gen Y consumer. After the launch of mobile app, State Bank Buddy, last month, SBI Card has launched SimplyCLICK, a credit card targeted at the online shopper.

In collaboration with seven leading e-retailers -- Amazon India, Cleartrip, FabFurnish, Food Panda, BookMyShow, Lenskart and Ola Cabs -- it has brought out a card to leverage the popularity of e-commerce in India and expand its existing base of 3.2 million credit card holders.

Markets ended lower, amid weak global cues, as investors booked profits in financial shares which had gained in the previous session on rate cut hopes by the RBI amid easing consumer price inflation for August.

Further, traders maintained cautious stance ahead of the two-day US Federal Reserve meet which begins tomorrow.

New Delhi: On one of the world’s highest mountain passes where bikers gasp for breath stands an eatery that serves hot snacks to travellers.

At 17,590 ft, Chang La Cafeteria, named after the intimidating pass in Leh, has a limited menu: chocolates, tea, coffee and noodles.

Mumbai: The capital market regulator has asked asset management companies to explain the principle behind their corporate bond investments, as it seeks to avoid a redemption crisis in the fixed-income plans of mutual funds (MFs) similar to the one JP Morgan Asset Management Co. Ltd is battling.

In a cautionary note issued to fund houses, the Securities and Exchange Board of India (Sebi) also asked fund managers to closely monitor companies in their mutual fund portfolios that have been downgraded recently, two people familiar with the note sent out by the regulator said on condition of anonymity.

After Facebook launched its Instant Articles, Google and Twitter are working together on their own. But unlike Facebook’s Instant articles, or Apple’s News app, Google and Twitter won’t be a branded product. The plan is currently called ‘accelerated mobile pages’ which is likely to be changed before the launch.

It is strongly speculated that the project will be an open source so that other companies could adopt it as well. It will not host publisher content,but it will show users cached copies of the publishers’ websites. The question of how publishers will be able to monetize the content, is still not clear.

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