The Securities and Exchange Board of India (Sebi) has concluded its final hearing in the matter of Reliance Industries and Reliance Petroleum merger, sources have said.

In the matter spanning for eight years the regulator would look to pass a final order in the matter under the charges of Fraudulent and Unfair Trade Practices (FUTP).

Shares of Reliance Communications have moved higher by 8% to Rs 62.95, bouncing back 11% from intra-day low on the BSE after multiple block deals were executed in the counter.

At 1208 hours, around 42.45 million shares have changed hands at price of Rs 58.35 on the BSE, the exchange data shows.

You may know Alibaba for its huge e-commerce business in China and the record-breaking U.S. IPO that it held last year. But there’s a lot more to the Hangzhou-based company than that, and, as of this week, that includes an online bank.

Alibaba-backed MYbank opened Thursday with a promise to provide services “for the little guys.” The service is an all-digital bank, it has no physical branches but is open 24/7. It is aimed at those who tend to end up a little short changed by the existing banking system — SMEs who struggle to fit into a financial bracket for loans and services, and those in rural areas who have issues accessing branches and banks in person.

New Delhi: The Aam Aadmi Party (AAP)-led Delhi government took a step to delivering on its election promise with its first budget focusing on education as a key priority. In the run up to election, the AAP had released a 70-point agenda focusing on education, health, women security and governance.

The government on Thursday more than doubled the allocation for education in the budget for the year to next 31 March and refrained from imposing any new taxes.

New Delhi: DLF Ltd, India’s largest real estate developer, plans to cut its debt by a third by raising Rs.7,000 crore through two private equity (PE) deals and two real estate investment trusts (REITs) in the next 18 months, two people aware of the plan said.

The company expects to raise Rs.6,000 crore through REITs and Rs.1,000 crore through PE deals, according to both the people, who spoke on condition of anonymity. One of the PE deals will be with Blackstone Group LP, the world’s largest PE firm, and is expected to be finalized by September, said one of the two people. This person is directly involved in the deal negotiations.

The BSE Sensex continued to trade in the negative terrain and was down over 70 points at 10.28 am on fresh selling by participants as July series in the derivatives segment began on a subdued note amid weak Asian cues.

At 10.28 am, BSE Sensex was down 78.81 points at 27,817.16. Similarly, Nifty was down 16.60 points at 8,381.40 during the same time.

BENGALURU: Cisco's chief technology and strategy officer Padmasree Warrior, who announced earlier this month that she is leaving the company, may be considering an advisory or Board role in India's third-largest IT services company Wipro.

Multiple sources told TOI that the Vijaywada-born Warrior, one of Silicon Valley's most influential technology leaders, is being wooed by Wipro. Warrior would be seen as a savvy addition at a time when the $7.5-billion IT company is attempting to bolster its digital and IP-based offerings and reduce dependence on the commoditized IT services business.

In an indication of how major lenders are fighting it out to get a share of the tepidly growing loan market, ICICI Bank - the country largest private sector lender - reduced its base rate by only five basis points (bps) to 9.7 per cent, to match its biggest rivals, State Bank of India (SBI) and HDFC Bank.

Loan demand, particularly from the corporate sector, has been sluggish amid a slowing economy while home and automobile loans are the only segments where banks are pushing.

The National Association of Software and Services Companies (Nasscom), apex body representing the Indian information technology (IT) industry, is planning to set up a Centre of Excellence (CoE) with the help of the central government to train professionals in the nuances of big data and business analytics.

Speaking to mediapersons on the sidelines of the two-day Nasscom summit on big data and analytics, which started here on Thursday, Nasscom Chairman B V R Mohan Reddy said it had been working with the Centre on this.

NEW DELHI: The government will put on the block eight more mines after 10 mines are auctioned in the third phase, for which the process has already begun, a top official said on Wednesday.

"After these 10 mines (to be auctioned in third round in August), eight more mines are in the queue," coal secretary Anil Swarup told reporters here on the sidelines of minerals and metals conference.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.