The merger deal between Kotak Mahindra Bank and ING Vysya Bank has received the Reserve Bank's approval, which would create the country's fourth largest private sector lender.

"The scheme of amalgamation (of Kotak Mahindra Bank and ING Vysya Bank) shall come into effect from April 1, 2015," Kotak Mahindra Bank said in a statement quoting RBI approval. It got RBI approval for the merger yesterday.

Shares of Tata Motors have moved higher by 2% at Rs 561 on the National Stock Exchange (NSE) ahead of rights issue.

The stock will turn ex-rights on Monday, April 6, 2015, in the ratio of 6:109 i.e. six shares will be allotted for every 109 shares held.

Shares of Maruti Suzuki India were trading lower by 2% at Rs 3,622, falling 4% from its intra-day high on the National Stock Exchange (NSE), after reporting 1.6% year-on-year fall in total sales at 111,555 units in March 2015, due to lower sales in the compact segment. The company had sold a total of 113,350 units in March 2014.

The category-wise sales of compact segment (Swift, Ritz) fell 12.5% to 38,710 units in March as against 44,251 units in the same month last year, Maruti Suzuki India said in a statement.

After two consecutive hikes, petrol prices were today cut by 49 paise per litre and diesel by Rs 1.21 a litre on softening international oil rates.

The reduction in rates will be effective from midnight tonight.

Prices of petrol in Delhi will be Rs 60 a litre from tomorrow as against the current Rs 60.49, while diesel will cost Rs 48.50 per litre as compared with Rs 49.71 currently, Indian Oil Corp (IOC), the nation's largest oil company, said.

Air India has taken delivery of its 20th Dreamliner from US manufacturer Boeing, a milestone which it said highlights their "successful partnership".

Boeing's delivery of the 20th 787 Dreamliner was made from its final assembly facility in North Charleston in the state of South Carolina.

Hinduja Group flagship company Ashok Leyland today reported a 24% increase in total sales at 12,754 units for March 2015, as against 10,281 units in the same month last year.

Sales for its heavy and medium commercial vehicles increased by 29.91% at 10,027 units in March as against 7,718 units in the year-ago period, the company said in a filing to the BSE.

Automaker Mahindra & Mahindra today reported a 12.44% decline in total sales at 45,212 units in March.

It had sold 51,636 units in the same month last year, the company said in a statement today.

State Bank of India (SBI) on Tuesday said it received board approval to divest up to 10 per cent of its stake in SBI Life Insurance.

SBI Life is a 74-26 joint venture between SBI and BNP Cardif, with the former holding 74 per cent and 26 per cent by the foreign partner.

Infosys, India’s second-largest information technology services company, was expected to see stronger revenue growth in 2015-16 and 2016-17, because of its offerings, as well as improved client mining, brokerage firm CLSA said in a report on Tuesday.

It predicted Infosys would more than double its dollar revenue growth in 2016-17 to 15 per cent from seven per cent in 2014-15. Infosys is yet to announce its 2014-15 results, but it had provided a revenue growth forecast of seven-nine per cent for the year.

Shares of public sector oil marketing companies (OMCs) such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have rallied by up to 6% on the Bombay Stock Exchange (BSE).

BPCL surged 4% at Rs 801, also its record high on the BSE, during intra-day trade. IOC rallied 6% to Rs 375, while HPCL gained 4% to Rs 655.

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