The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, on Wednesday approved the disinvestment department’s plan to sell stakes in Indian Oil and NTPC as part of the Centre’s Rs 41,000-crore divestment target for public sector undertakings. At current share prices, a planned 10 per cent stake sale in oil marketing company Indian Oil could fetch Rs 8,120 crore, while a five per cent stake sale in power producer NTPC could get the exchequer Rs 5,689 crore.

The Centre had last divested part of its stake in Indian Oil in March last year and in NTPC in February 2013.

Tata Consultancy Services, the IT arm of the Tata Group, has been ranked fifty-seventh in valuation firm Brand Finance's latest list of the top 500 brands in the US. TCS's brand value has jumped nearly four times in the last five years to touch $8.7 billion now, Brand Finance said. In 2010, TCS's brand value was $2.3 billion, it said.

Interestingly tech companies have made it to the top three spots in the list. Apple is number one, followed by Google and Microsoft.

Aditya Birla group telecom major Idea Cellular was planning a capex of around Rs 5,500 crore in the current fiscal to strengthen its infrastructure.

State-owned Indian Oil and GAIL (India) Ltd have inked a pact with Adani Enterprises firm Dhamra LNG Terminal to reserve regasification capacity at Dharma Terminal for supplying gas in the east.

As per the agreement, Indian Oil and GAIL would also have the option to hold equity in DLTPL at a later date.

India's imports of raw and processed coal, or coke, rose 19% to 21 million tonnes in April from a year earlier as low prices drew buyers, according to provisional data from commodities trader mjunction.

Imports into the world's third-biggest coal buyer, however, were about 12% lower than the 24 million tonnes for March, mjunction Chief Executive and Managing Director Viresh Oberoi said in an email.

Ashok Leyland has dipped 4% at Rs 69 on the NSE after reported a standalone net profit at Rs 230 crore for the fourth quarter ended March 2015 (Q4). The commercial vehicle firm had profit of Rs 363 crore for the same period of the previous financial year, which includes one-time gain of Rs 376 crore on account of sale of long-term investments and immovable properties.

Operating profit however jumped by nearly three-fold at Rs 457 crore in March 2015 quarter against Rs 178 crore in a year ago quarter.

A massive earthquake measuring 7.3 magnitude (earlier reports had indicated anything between 7.1 to 7.4) on Richter scale epicentred near Nepal, shook Delhi, Bihar, West Bengal and several parts of India today, less than three weeks after the region was struck by a devastating temblor. While 65 people were killed in Nepal and thousands injured, 17 died in India, 16 of them in Bihar and 39 others were injured.

Earthquake jolts were felt in Delhi and National Capital Region (NCR) today driven by the earthquake in Nepal. Delhi Metro was stalled for a while. Later Delhi Metro services were put on restricted mode with speeds being slowed down. The earthquake caused panic to spread in the public across north India, but timely intervention by authorities limited fallout, if any.

Mumbai: The Bombay high court on Wednesday said that the court-convened meeting between the two parties in the Yes Bank Ltd versus Madhu Kapur case will continue on 2 June.

The case relates to the two-year-long family dispute between Yes Bank’s two largest shareholders Rana Kapoor and Madhu Kapur.

At least 41 people were killed and 20 others wounded when heavily armed men on motorcycles opened fire on a bus in Karachi on Wednesday.

According to Pakistan English daily Dawn, the dead included 25 men and 16 women. Attackers reportedly entered the bus and opened fire.

Mumbai: It’s rare that a woman runs a stock exchange—there are just three in the world. Even rarer to find one who was chosen 23 years ago for the crack team that created it and then climbed the ranks to become its chief executive officer in traditionally patriarchal India.

Chitra Ramkrishna, 52 and head of the National Stock Exchange of India Ltd (NSE), wants to retain the startup culture of her early days that helped grow the NSE into the world’s third-largest bourse by number of trades and the leader in India with an 82% market share that dwarfs the 140-year-old BSE Ltd. When NSE needs something new, it creates a team: Currency trading, bond futures and exchange-traded funds are the fruits so far. Another team is now working on bond innovations to go beyond the current 10-year product.

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