The Securities and Exchange Board of India (Sebi) has imposed a total penalty of Rs 86 crore on real estate major DLF and 40 related entities, including subsidiaries and key officials. The matter relates to disclosures made at the time of its Initial Public Offer (IPO) in 2007.

The regulator imposed penalties through two separate orders. One is for a sum of Rs 52 crore on DLF and seven officials. The second order is for Rs 34 crore on Sudipti Estates Ltd and 34 other related entities.

The country’s biggest bourse, the National Stock Exchange (NSE), plans an international exchange at Gujarat’s ‘GIFT City’, the country's first proposed international financial services centre.

The exchange signed a memorandum of understanding (MoU) on Thursday with the GIFT City project developers in Ahmedabad, in the presence of Gujarat’s finance minister, Saurabh Patel. NSE’s rival, BSE Ltd, had signed a similar undertaking with the Gujarat government last month.

NTPC Ltd has informed the BSE about the commencement of commercial operations of Unit-III 500-Mw Vallur thermal power project.

The Unit III power project located in Tiruvallur district has been set up by NTPC Tamil Nadu Energy Co Ltd (NTECL), which is a JV between NTPC and the state distribution company Tangedco.

Ratan Tata, former chairman of Tata Sons, has confirmed Jaguar Land Rover, luxury vehicle arm of Tata Motors, is looking for a factory site in North America.

He said so to Automotive News, while a guest at the South Carolina Automotive Summit. Earlier this month, JLR executives met the governor of Georgia in the US to discuss setting up a new factory in the state, a local newspaper had reported.

Shares of Bajaj Auto have dipped 2.4% at Rs 2,128, its lowest level since August 2014 on the National Stock Exchange (NSE).

The stock of the country’s third largest two-wheeler maker has underperformed the market by falling 13% in past one month after reporting lower-than-expected vehicle sales for the month of January 2015. The CNX Nifty has declined about 1% during the period.

Railway Minister Suresh Prabhu on Thursday spared passengers from any hike in fares but made changes in freight rates to rake in more money while ruling out privatisation.

Presenting the first full-fledged Rail Budget of the Modi government for 2015-16, he made adjustments in freight rates that exempted salt but would hike rates on carriage of cement, coal and coke, iron or steel and petroleum products.

CHENNAI: As part of its push into the defence sector, the $17 billion SUV-to-software conglomerate Mahindra & Mahindra is in talks with British Aerospace for an alliance. Although the talks are on, "nothing has been concluded" yet, said two people with direct knowledge of the matter. M&M earlier had an alliance with British Aerospace but bought out its partner's 26% stake in their joint venture Defence Land Systems India (DLSI) in 2013.

Sources also say Mahindra is "not bidding" for a stake in Pipavav Defence & Offshore Engineering Co Ltd.

NEW DELHI: Realty major DLF's sales bookings will cross Rs 3,000 crore this fiscal helped by better sales during this quarter in its two housing projects at Gurgaon, a senior company official said.

India's largest realty firm had earlier given the guidance that sales bookings would be in the range of Rs 3,000-3,500 crore in the current 2014-15 financial year as against Rs 4,070 crore achieved during last fiscal.

NEW DELHI: State-tun telecom company BSNL is investing an over Rs 11,000 crore to improve its all-round services including strengthening network, modernizing telephone exchanges and installing mobile towers in the naxal-dominated areas, Parliament was informed on Wednesday.

"BSNL and MTNL are taking several steps to enhance revenues through investments to strengthen its network and focus on consumer care and service delivery to improve quality of service," telecom minister Ravi Shankar Prasad informed the Lok Sabha in a written reply.

NEW DELHI: The government would wait till crude prices stabilize at around $70 a barrel before selling 5% in ONGC, moving disinvestment in the country's most profitable company to the 2015-16 fiscal starting April 1. Government sources on Wednesday said the "time was not ripe" for offloading stake in refiner-marketer IndianOil, though the matter was "in discussion" within the government.

The ONGC selloff was initially supposed to have happened in November 2014 and was estimated to fetch some Rs 14,000 crore. But falling crude prices changed the valuation template and took a toll on the company's financial health.

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