Terrorists wearing army fatigue on Wednesday morning attacked a BSF convoy at Narsu nullah near Samroli, killing two Border Security Force (BSF) personnel and injuring ten others.

While one terrorist was killed as BSF immediately retaliated, two managed to flee into the forests on hillocks running along the national highway. Three civilians, who were held hostage by one Pakistani terrorist, have been rescued by the army and the terrorist was caught alive.

Mumbai: Mitsubishi Corp. (MC) and Larsen and Toubro Ltd (L&T) have won a ¥50 billion contract from state-run Steel Authority of India Ltd (SAIL) to construct a steel plant, Mitsubishi said in its statement on Wednesday.

Under the project, a hot strip mill with production capacity of 3 million tonne per annum will be constructed at SAIL’s Rourkela steel plant in Orissa.

MUMBAI: The benchmark BSE Sensex recovered sharply over 213 points in early trade on Wednesday powered by capital inflows by foreign funds and buying by retail investors amid a strong Asian trend.

Besides, better-than-expected Q1 earnings by Bharti Airtel buoyed sentiment.

Mumbai: ICICI Bank Ltd, India’s largest private sector bank by assets, is set to raise up to $500 million (around Rs.3,200 crore today) by selling five-year dollar bonds to investors in Europe and Asia, two people familiar with the issue said.

The issue opened earlier on Wednesday and is likely to close by late evening.

National Stock Exchange (NSE) has tied up with the National Savings Institute (NSI) of the Department of Economic Affairs for conducting awareness programmes to aid in the distribution of the National Savings Schemes (NSS). The distributors of NSS who operate through post offices and select banks will be educated on financial concepts like savings with a particular focus on exchange-traded funds.

"The initiative is expected to help them to take additional financial markets' products like Exchange Traded Funds (ETF) to the masses," said a release from the exchange.

The Securities and Exchange Board of India (Sebi) has banned Trinamool Congress MP Kanwar Deep Singh and his associates from participating in the market for alleged illegal fund raising by an entity called Alchemist Capital. The regulator has asked the company and people associated with it including Singh to refund over Rs 165 crore raised from investors with 15 per cent interest compounded half yearly. Sebi has said if the proof of compliance with the directions of refund were not submitted in three months' time, it would initiate criminal action against promoters and directors.

Maruti Suzuki, India's biggest car maker, today launched the S-Cross, a premium crossover, priced in the range of Rs 8.34 lakh to Rs 13.74 lakh (Ex-showroom, Delhi).

Built from a completely new platform the S-Cross is the first real attempt by the market leader to enter the premium segment, something which its peers including Hyundai have done effortlessly.

Tata Power with the present installed capacity of 8,750 MW has launched an evaluation for the acquisition of stressed power projects in the country. Company's move comes close on the heels of similar exercise launched by the state-run NTPC and JSW Energy.

The company in its annual report for the fiscal 2014-15 said: ''Due to the current financial stress in the power sector in India, there are assets which may be available for acquisition. The company is evaluating and will continue to evaluate opportunities to acquire projects in various stages of development across the country. These acquisitions, if they materialise, will leverage our existing businesses in the power value chain.'' However, the company has not divulged further details with regard to brown field investment.

Railways today ordered an inquiry into the twin train derailments in Harda in Madhya Pradesh which have left 24 passengers dead and ordered compensation for the families of the victims.

"According to reports, there was a possible burst in a nearby dam which caused sudden flow of water on the tracks and that resulted in the derailment," Railway Board Chairman A K Mittal told PTI.

Air India (AI) will sign an agreement with Citibank and State Bank of India to raise $300 million (Rs 1,900 crore) of external commercial borrowing.

The loan is backed with a sovereign guarantee and will be used for working capital, payment for aircraft spares and bridging the gap caused by delays in equity infusion by the government. The first tranche will be released next week, AI sources said. The loan is repayable over five years and carries annual interest of around 2.5 per cent.

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