K Nandakumar, 50, joined the Oil and Natural Gas Corporation (ONGC) as a security guard in Puducherry when he was 25. After serving for 25 years, it is only now that he is set to become a permanent employee of India's largest exploration and production company and be entitled to all the perks, allowances and benefits that come along with his job.

The quarter-of-a-century-old legal battle that ensued between the security guards and ONGC has been worth it, says Nandakumar. "Trips to the court and the struggle of 25 years have paid off. I am not sure how much I will get in terms of compensation from ONGC but whatever I get, I will invest for my future or probably buy a property," he said. Nearly 240 security guards had united to fight ONGC in 1988 when despite their 240 days in regular service, the company refused to consider them permanent, thus denying them the benefits.

Maruti Suzuki India plans to invest Rs 4,000 crore this fiscal on capital expenditure in order to enhance its leadership position in the market.

The company, which reported its highest ever annual profit and sales in the fiscal concluded March 31, 2015, said the amount would be utilised on enhancing marketing infrastructure, launching new products and on R&D.

Country's fourth largest telcom operator Reliance Communications (RCom) has mopped up $300 million from global investors by selling 5.5-year dollar debt at 6.5%.

"The company has launched, closed and priced the issue of Notes on April 27, 2015. The Notes have a tenor of 5-1/2 years due in 2020 and carry a coupon of 6.5 per cent per annum, payable semi annually. The Notes are expected to be settled by May 6, 2015. The Notes will be listed on the Singapore Stock Exchange," RCom said in a statement today.

NEW DELHI: ICICI Bank rallied as much as 6.7 per cent in trade on Tuesday to post its best percentage gain in a year on value buying, as analysts across Dalal Street remained positive on the stock despite weak asset quality concerns.

ICICI Bank, the country's largest private sector bank by assets, on Monday posted a 10% rise in March quarter earnings, in the previous session, but a jump in provision for bad loans and a surge in gross non-performing assets spoilt the show for the bank a bit.

NEW DELHI: Brokerage Reliance Securities in a note on Tuesday set the target price for the largest state-run lender SBI to Rs 240. The brokearge in a report cited that the stock closed below its 200-day simple moving average (SMA) on Monday, down 3.1 per cent.

The stock closed below its 200-day SMA of Rs 278 for the day. On Tuesday, the scrip was quoting 2 per cent higher.

State-run oil marketing companies surged over 4 per cent in intraday trade on Tuesday.

Indian Oil Corp gained as much as 2.48 per cent, Bharat Petroleum Corp was up 4.44 per cent and Hindustan Petroleum Corp surged 4.5 per cent in intraday trade.

The benchmark BSE Sensex rose over 70 points in early trade today as value-based buying in stocks of banking, auto, metal, PSUs, oil & gas and power sectors led the recovery amid a mixed trend at other Asian markets.

The 30-share index, which had lost 713.14 points in the previous three sessions, recovered by 70.92 points, or 0.26 per cent, at 27,247.91.

Mark Zuckerberg’s Facebook Inc said on Monday it added a video-calling feature to its standalone Messenger app.

The Facebook feature is currently available to users on iOS and Android operating systems, the company said.

Mumbai: The Indian rupee strengthened for the second consecutive session against the dollar on Tuesday ahead of the US Federal Reserve’s two-day policy meeting.

The local unit opened at 63.36 per dollar. At 9.11am, the rupee was trading at 63.40, up 0.13% from its previous close of 63.49.

Falling cash reserves and increasing debt are expected to reduce treasury income for Reliance Industries Ltd (RIL) in the current fiscal year as the company will have less cash to invest in instruments such as mutual funds and government bonds, among others.

RIL, which is in the midst of its biggest capital expenditure cycle, is investing up to $24 billion over a five-year period since fiscal 2013 across businesses ranging from refining, petrochemicals and fourth-generation telecom services.

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