Shares of Infosys were trading flat at Rs 990 on the Bombay Stock Exchange (BSE), after the stock turned ex-bonus today in the ratio of 1:1.

The stock hit a high of Rs 995 and a low of Rs 969 on the BSE. Till 0935 hours, a combined 497,802 shares changed hands on the counter on the NSE and BSE.

The agribusiness-to-cigarette conglomerate ITC Ltd is reportedly planning to invest about Rs 4000 crore in expanding paper production capacity of Bhadrachalam Paper Board in Telangana. Capex is a part of Rs 8000-crore investment plan announced by Y C Deveshwar, chairman of ITC, on June 12, 2015 during the launch of the Telangana government's new industrial policy, which promises super fast single window approvals and zero tolerance to corruption. Half of the said investment is expected to go into building new hotels and a new food processing plant in Medak district of Telangana.

The Street is cautious about the prospects of Reliance Industries’ (RIL) telecom service launch and its ability to achieve early break-even. In addition, monetisation of the domestic exploration and production (E&P) business is a few years away. Lower oil and gas prices also suggest that the near-term prospects of overall E&P are muted. Analysts say, in the initial phase, Reliance Jio is expected to be a drag on RIL’s profits. This is due to high depreciation and interest costs accompanied by initial expenses of launch and ramp-up, all of which will be much more than the telecom business Ebitda (earnings before interest, taxes, depreciation and amortisation) generated, even if adoption is relatively quick.

The country’s top dry-fuel miner Coal India Limited (CIL) has become the sixth-largest mining company in the world in terms of market capital, says a recent PwC report.

Earlier, the company was at the eighth spot among top 40 global mining firms, according to the report.

MUMBAI: India's richest man Mukesh Ambani, owner of energy-to-retail conglomerate Reliance Industries (RIL), will launch fourth generation (4G) telecommunications services by December this year as he promises to offer 4G-enabled handsets for less than Rs 4,000 along with voice and data monthly plans between Rs 300 and Rs 500. The aim is to reach 10 crore consumers within the first year of launch. Reliance's 4G service will offer high-speed internet at 1/10th the cost of the current plans available in the market.

MUMBAI: The country's largest lender State Bank of India (SBI), which recently cut its lending rates by 15 basis points, has waived processing fees as an incentive to those wanting to shift their existing home loans to the bank. SBI is also offering borrowers a top-up option, where the borrower can raise more than his outstanding loan account.

The trade association of Indian IT companies, National Association of Software and Services Companies (Nasscom), on Friday, termed the reports of the U.S. investigation into IT companies as ‘unfortunate’ and ‘an attempt to create negative sentiments about these companies’.

The apex body also said attempts were being made in certain quarters to create this negative impression without looking at ‘facts and logic’. It said such efforts would have detrimental impact on the strategic partnership and mutually beneficial economic and trade relationship the two countries were striving to nurture.

NEW DELHI: National passenger carrier on Saturday denied reports of a lizard being found in the food tray of a passenger on board its New Delhi-London flight. The airline has termed it a "hoax" to tarnish its image.

"This incident never happened. As there is no record of it, no complained that was filed either in London, New Delhi or on-board the flight. No cabin crew or even the other passengers on the flight are even aware of such an incident and no one has come forward to complaint even now," a senior Air India official in New Delhi told IANS.

At least six persons were killed and around 100 others were injured when an ammonia gas tanker leaked early today in the district, police said.

The leak occurred when the tanker got stuck under a flyover on the Doraha Bypass Road along a canal, about 25 km from here, they said.

With imports falling, demand for gold is likely to moderate further in the June quarter.

Total imports in May are estimated around 60 tonne. For the June quarter, imports will likely be below 200 tonne.

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