With new insider trading norms coming into force on Friday, a host of companies, including Bajaj Auto, HDFC Bank, HDFC and YES Bank, have framed their codes of conduct to regulate and report stock trades by promoters, top executives, their relatives and connected persons.

Besides, Aurobindo Pharma, Axis Bank, BEML, Jubilant Life Sciences, Ashok Leyland, Tata Communi-cations, JK Lakshmi Cement and Hindustan Motors have formulated their respective Codes of Conduct, according to exchange data.

The three oil marketing companies — Indian Oil (IOC), Bharat Petroleum and Hindustan Petroleum — announced a Rs 3.13-a-litre increase in the retail price of petrol and Rs 2.71-a-litre rise in diesel prices with effect from Friday midnight to align the de-regulated domestic prices with the international rates.

After the changes in retail prices, non-branded petrol will be charged at Rs 66.29 a litre in Delhi, while diesel will cost Rs 52.28 a litre. The prices were last revised on May 1, when petrol prices were increased by Rs 3.96 a litre and diesel prices were hiked by Rs 2.37 a litre.

Coal India is set to invest a whopping $20-25 billion (over Rs 1.27 lakh crore) over the next 5 years to achieve its billion tonnes target by 2020, double of what it produces now. This level of domestic production will also put an end to import of thermal coal to India, coal and power minister Piyush Goyal said.

"The 1 billion tonnes target would entail investment of anything between $20-25 billion. This would be invested over the next five years as we touch the production target. This would go in technologies, in equipment, in upgrading facilities and opening new mines," Goyal said while inaugurating the new headquarters of Coal India near Kolkata.

NEW DELHI: Suzuki Motor Corporation, parent of the country's largest carmaker Maruti Suzuki, plans to push ahead with its contentious plan to set up a wholly owned manufacturing plant in Gujarat as amendments to the Companies Act have made it easier to get share holder approval.

The Rajya Sabha on Wednesday cleared 16 amendments to the Companies Act, 2013, that included replacing 'special resolution' with 'ordinary resolution' for approval of related-party transactions by minority shareholders in a company.

MUMBAI: In what could mark the start of consolidation in the world's second-largest wireless market, where tariffs have fallen to among the lowest globally as 12 carriers compete for customers, the Anil Ambani-led Reliance Communications(RCOM) is said to be in talks with AFK Sistema to acquire its Indian wireless business.

Russian billionaire Vladimir Yevtushenkov, owner of conglomerate Sistema group, is learnt to have met Reliance Group chairman Anil Ambani recently to discuss combining their wireless operations in the country. Yevtushenkov on Friday confirmed a media report that he met the Indian tycoon for a possible JV but denied any plans to sell off the Indian unit.

Amid high volatility and persistent foreign fund outflows, benchmark indices gained for the second consecutive week as the Street enters a phase of consolidation after losing nearly 7-8% in April.

The Sensex advanced 0.8% this week at 27,324, after adding 0.4% in Friday’s trade. The Nifty ended with gains 0.9% for the week. Broader markets witnessed a sharper rebound with BSE Mid- and Small-cap indices rising 2-3% each.

A 13—year—old Indian—origin boy, who invented a low—cost portable Braille printer, is now working with technology giant Microsoft to integrate it with Windows to make it easily accessible to the visually—impaired and plans to launch it commercially in November.

Shubham Banerjee, an eighth—grade student in Santa Clara, California, was invited by Microsoft to showcase his Braigo 2.0 printer at a tech fair organised by the company here.

Reserve Bank of India has finally removed the Additional Factor for Authentication (AFA) for any transaction up to Rs 2000. It means that PIN authentication is not required for transaction up to Rs 2000. RBI announced this new circular for NFC (Near Field Communication) payment mode, it said, “If the customer, however, chooses to use the card for contactless payments, then PIN authentication may not be necessary for transactions up to Rs 2,000.”

As per RBI norms, NFC based Contact Less Payment can only be made for a transaction up to Rs 2000, beyond that, a merchant is mandated to process contact payment and authentication with PIN (AFA) will be mandatory. Suitable velocity checks may be put in place for considering how many such small value transactions will be allowed in a day / week / month.

Amid India enacting a law to deal with the menace of black money stashed abroad, Switzerland on Friday said that it is considering amendments in its domestic laws, which may lead to sharing of banking information with other countries even on the basis of the so-called ‘stolen data’.

We will have a black money discussion (with finance minister Arun Jaitley) to solve and clarify (the issue). We are on our way to ask our Parliament to adjust our law to make sure that we can contribute to regularise this specific situation (information on stolen data with respect to black money).

Dr Reddy's Laboratories Limited today announced the launch of Somazina, an innovator brand of Citicoline in the Indian market. The drug is indicated for improving cognitive function in patients who have suffered from stroke or cerebral infraction, or who have undergone a brain surgery or have suffered from head injuries.

Dr Reddy's has partnered with the global innovator of Citicoline, Ferrer International S A of Spain to make Somazina available in India. "This is an important product in the management of stroke and has been used for treatment of post-stroke patients around the world," the company said.

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