ICICI Bank, the country’s largest private sector lender, aims to grow its loan book 3-4% ahead of credit growth this fiscal year.

In an investor presentation, the lender said that it will continue to be selective while lending to the corporate and SME sector.

Employees of State Bank of India's associate banks, including State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and State Bank of Hyderabad, went on a one-day strike today to protest their merger with SBI permanently.

They also demanded filling up of vacancies, increasing the staff strength in the Housing loan section and extending the compassionate ground appointments to associate banks also.

Commercial vehicle major Ashok Leyland's standalone net profit in 2014-15 rose to Rs 335 crore from Rs 29 crore in the prior year. Total income climbed 36 per cent to Rs 13,562 crore in 2014-15 from Rs 9,943 crore in 2013-14. The company's share of the medium and heavy commercial vehicle market increased to 29 per cent during 2014-15 from 26 per cent in 2013-14.

Bengaluru: Flipkart Ltd on Wednesday promoted marketplace operations head Ankit Nagori to the newly created role of chief business officer as India’s largest e-commerce firm seeks to accelerate its shift to a marketplace model and triple the number of third-party sellers on its platform by December.

Nagori’s earlier role was senior vice-president, marketplace. He will now oversee the marketplace business as well as the company’s retail and brand alliance function, which has ceased to exist on a separate basis. He will continue to report to Mukesh Bansal, head of Flipkart’s e-commerce platform.

Mumbai/New Delhi: Swedish manufacturing company AB Volvo is looking to sell its remaining 3.71% stake in Eicher Motors Ltd and monetize 1.01 million shares of the Indian company that it currently holds. Shares of Eicher Motors were trading at Rs.18,210 apiece on Wednesday.

According to a term sheet reviewed by Mint, the company will look to sell its stake in a block deal on Thursday. The shares, if sold in the range of Rs.17,190-18,190 apiece, taking into account a maximum discount of 5.5%, could fetch Volvo as much as Rs.1,820 crore.

Good news for India! The native mobile phone maker Micromax ranks among the top 10 global handset vendors with 1.8% market share during the January-March quarter with 8,158,000 units sold, reports Gartner.

In a press release, Micromax stated that it has received overwhelming responses toward the Canvas series including new handsets like Canvas Spark, Canvas Knight and Canvas Fire among others.

Volatility ruled as benchmark BSE Sensex struggled to recover from the day’s low in morning trade. The benchmark BSE Sensex wiped off its initial gains and was trading marginally down 5.93 points to 26831.27 at 11:40 am. While NSE Nifty too regained 10.80 points to 8145.90.

The Sensex failed to maintain initial gains and was trading lower in late morning trade as it came marginally under pressure due to selling at FMCG, healthcare, auto and consumer durable counters.

Tanu Weds Manu Returns box office collections, Rs 108.12 crore in domestic markets and Rs 144.36 crore when the global take is added, has put Kangana Ranaut on top of the world, almost.

The best part for Kangana Ranaut, and Tanu Weds Manu Returns, is that the film, which received fulsome praise from both the critics and the audiences, is still doing brisk business – this may well have to do with the fact that there is virtually no competition in theatres with ‘Karachi’ having fallen into an abyss on release.

IT major Infosys plans to introduce stock options as part of its sales incentivisation strategy as it focuses on generating more revenue from existing clients.

At the BofA Merrill Lynch Global Tech Conference in the US on Wednesday, Infosys CEO Vishal Sikka said, “We are focusing on sales efficiency and mining accounts,” while admitting that the company had significantly underperformed in this respect. Account mining is a key strategy for Indian IT services companies that typically generate over 95% of their revenue through repeat business.

Two leading banks Punjab National Bank (PNB) and Axis Bank today slashed interest rate on fixed deposits by 0.25% on select maturities, a move which could be seen as precursor to a cut in lending rates.

The reduction will be effective from June 8, state-owned PNB said in a statement.

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