Stocks of Anil Ambani-led Reliance Group companies, Essar Oil and Mukesh Ambani-led Reliance Industries Ltd witnessed huge selling pressure today as investors booked profit amid concerns relating to the “corporate espionage” scandal.

Shares of Essar Oil fell by 3.79 per cent to Rs 107.90 on the BSE, while those of Cairn India fell by 1.60 per cent to Rs 249.10.

As Coal India Ltd (CIL) prepares to double its production capabilities on a priority basis, equipment makers, both domestic and global, are sniffing big opportunities including possible joint ventures with Coal India.

Equipment suppliers like BEML, Heavy Engineering Corp, L&T and global players like Caterpillar, Joy Global, Komatsu, Atlas Copco, Leibherr and Peabody have shown interest.

Soon after closing its first investment in the start-up space, Infosys, India’s second largest IT services company is learnt to be in the process of making one more investment in a company which develops cloud-based air quality detectors.

According to a senior official at the Bengaluru-company, the investment is in line with Infosys’s strategy of providing support for start-ups that are innovative in new generation technologies such as internet of things (IoT), machine learning and artificial intelligence.

State Bank of India (SBI), the country's largest lender, wants the government to increase the upper limit for interest subvention (subsidy) of home loans from Rs 15 lakh to Rs 25 lakh.

To be eligible for subvention, the cost of the house should also be increased from Rs 25 lakh to Rs 35 lakh in metros, SBI said in its wish list for the Union Budget. Finance Minister Arun Jaitley is slated to present the Budget on February 28.

Boosting the prospects of Uttar Pradesh Chief Minister Akhilesh Yadav’s promise of providing adequate power supply by 2016-17, NTPC Limited has said it will supply an additional 1,657 Megawatt (Mw) to the state in two years.

The Maharatna company is now supplying 4,150 Mw to the state from power generated by its thermal power plants in the state. Thus, NTPC would be ramping up power supply by almost 40 per cent to Uttar Pradesh. The additional allocation to the state will come from new NTPC units in the state totalling 3,648 Mw.

Shares of Kotak Mahindra Bank and ING Vysya Bank gained for the second straight session on the BSE, after the Competition Commission of India (CCI) has approved the proposed merger of ING Vysya Bank with the Kotak Mahindra Bank.

Kotak Mahindra Bank has rallied 3% to Rs 1,354, while ING Vysya Bank up nearly 2% at Rs 941 on BSE. Both these stocks had gained nearly 1% each on Monday.

The department of telecommunications (DoT) has approved state-run Bharat Sanchar Nigam Limited’s (BSNL’s) plan to hive off its tower assets into a wholly owned subsidiary and is in the process of formulating a Cabinet note for the same.

The proposal to this effect will be send to the Cabinet soon for a final approval, a senior official from DoT told Business Standard.

Ashok Leyland, the Chennai-based truck and bus maker, has not given up on its maiden passenger vehicle venture, despite poor sales. Its multi-seater Stile van saw sales of only 311 units in the April 2014-January 2015 period, less than half the same period of the previous year, when it was 694 units.

This is the first time India’s second largest heavy truck maker has plunged into the personal vehicle segment, with no prior experience.

ITC Hotels, India's second largest hotel chain, has emerged as the highest bidder for Goa-based Park Hyatt property, which was put on the block by IFCI. But the original owners allege the property is being sold at a throwaway price.

P L Suri-headed Blue Coast Hotels, the owner of the Goa property, said the hotel which was kept as a collateral against loan taken from IFCI has been put on the block by the state-owned finance company despite no mutual consent.

Budget carrier SpiceJet is expected to receive the second tranche of Rs 400 crore of a Rs 1,500 crore fund infusion by new investors led by Ajay Singh by Wednesday.

One tranche (of Rs 100 crore) has been invested. The second tranche, 400 crore, should happen tomorrow or day after, Singh said on the sidelines of the Budget Roundtable organised here Monday.

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