Idea Cellular has dipped 4.4% at Rs 172, falling nearly 8% from its intra-day high on the profit booking. The stock hit a fresh 52-week high of Rs 187 on the BSE in early morning trade.

In past one month, the stock had rallied 17% compared with 4.5% fall in the benchmark S&P BSE Sensex till yesterday.

Shares of companies engaged in oil exploration and production business have hit 52-week lows after the government lowered the domestic gas price by over 10% to $5.02 mmBtu (metric million British thermal units).

Reliance Industries, Oil and Natural Gas Corporation (ONGC), Oil India and Cairn India have touched their respective 52-week lows on the BSE during the intra-day trade.

State Bank of India (SBI) told the stock exchanges on Thursday that it would be reducing stake in its general insurance venture from the present 76 per cent to 51 per cent.

There would be a corresponding rise in stake of Insurance Australia Group from 26 per cent to 49 per cent. A valuer would be appointed to facilitate price discovery.

Offshore Infosys employees would get an average pay rise of around 6.5 per cent this year, while high performers could get as much as nine per cent, according to sources.

Infosys is India’s second largest information technology (IT) company.

Shares of Idea Cellular have moved higher by 6% to Rs 184, also its fresh 52-week high on the National Stock Exchange (NSE), in an otherwise weak market.

In past two-trading sessions, the stock 8% after the telecom services provider announced the launch of its 3G services on 900 MHz spectrum band in Delhi circle. The CNX Nifty falls 2.3% during the same period.

State-owned oil and gas explorer ONGC is making an investment of Rs 40,000 crore in the Krishna-Godavari basin in a phased manner in the next four years.

ONGC chief executive officer and managing director, DK Saraf, informed this to Andhra Pradesh chief minister N Chandrababu Naidu here on Wednesday.

With the production of thermal coal on the rise, the government is hopeful that state-owned Coal India will surpass its one billion tonne excavation target by 2020.

Power and Coal Minister Piyush Goyal today said: "We are expecting the companies to supersede coal production targets, I am hopeful that Coal India would exceed targets set for it by 2020."

Flush with funds, investors and venture capitalists have been increasingly eying the online classifieds space, allowing portals to use these funds for promotional activities aimed at enhancing their user base, according to an industry report released here today.

Online selling of used goods increased by more than three times in the last year, while online buying of used goods doubled during the same period, even as the amount of unused goods sitting idle at homes stands at Rs 56,200 crore, a Ficci-KPMG report on media and entertainment stated.

GMR Airports, a subsidiary of GMR Infrastructure, has upped its stake in Delhi International Airport (DIAL) by entering into an agreement to buy a 10% stake from Malaysia Airports (Mauritius) for $79 million. The stake purchase will take the group’s shareholding in the airport to 64%.

National carrier Air India is expected to cut its net loss by about a third to Rs 3,500 crore during Fy16 as a result of a significant reduction in fuel costs and improvement in operating performance, two airline officials told FE on Wednesday, quoting the airline’s recently released budget estimates.

The airline expects an operating profit of about Rs 10 crore during Fy16, its first annual operating profit since the implementation of the government-approved turnaround plan (TAP) in 2012.

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.