HONG KONG: Reliance Industries has announced an offering of 10-year 144A/Reg S bonds to yield around 265bp over US Treasuries.

The fixed rate senior unsecured US dollar benchmark bonds are expected to be rated on par with the issuer at Baa2 from Moody's and BBB+ from Standard & Poor's.

The Delhi High Court on Wednesday issued notice to the producers and directors of Aamir Khan starrer 'PK' on a novelist's plea accusing the makers of the movie of plagiarising certain portions from his Hindi book 'Farishta' published in 2013.

Justice Najmi Waziri asked Vidhu Vinod Chopra and Raj Kumar Hirani, who directed the film, their respective production companies and scriptwriter Abhijat Joshi to appear before joint registrar of the high court on April 16 for recording of evidence in this regard.

The capital markets regulator, the Securities and Exchange Board of India (Sebi), is to have a meeting of its board of directors on Thursday.

On agenda in streamlining the rules for raising foreign capital through issue of partly-paid shares, besides decisions on the regulator;s annual Budget.

Kotak Mahindra Bank said on Tuesday that its consolidated profit after tax for the October-December 2014 quarter increased 21 per cent year-on-year to Rs 717 crore, on the back of growth in earnings of its banking, securities and investments businesses.

On a consolidated basis, the bank's advances grew 21 per cent to Rs 86,058 crore. Consolidated net interest margin was at 4.7 per cent during the quarter under review, down from 4.9 per cent in the year-ago period.

The information technology (IT) sector has the highest median wage in the Indian economy at Rs 341.8 an hour. The lowest median wage is found in the education and research sector at Rs 186.5 an hour, 45 per cent less than that of IT.

These are the findings of Monster Salary Index, a joint initiative of Monster India and Paycheck.in, with Indian Institute of Management-Ahmedabad as a research partner.

While India found no mention in U.S. President Barack Obama’s annual State of the Union (SOTU) address, certain policy proposals that he made to both houses of Congress on Tuesday evening, including increased trade authority and a tax clampdown on businesses, could have a ripple effect on economic ties with economic partner-nations.

On the subject of international trade deals, which in all likelihood concerned the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership, Mr. Obama said that although past trade deals had not lived up to the “hype,” this is the reason Washington had “gone after countries that break the rules at our expense.”

Tata Consultancy Services, the country’s largest information technology services provider, has revoked a dismissal letter issued to a female employee and so informed the Madras High Court.

Last week, the HC had issued an interim injunction to restrain TCS from implementing the order for four weeks.

After a three-year wait, the country’s two largest homegrown automobile makers, Tata Motors and Mahindra & Mahindra (M&M), await the Indian Army’s announcement on new sports utility vehicles (SUVs). The choice is between the Tata Safari Storme and the Mahindra Scorpio.

The army, is expected to announce an initial order of about Rs 500 crore for almost 5,000 vehicles in the next few weeks, Business Standard has learnt from industry sources. In all, the order is likely to be worth Rs 3,000 crore for 30,000 SUVs over a 10-year period.

Shares of Housing Development and Finance Corporation (HDFC) is continued their its upward march on the bourses, with the market value of the country's largest mortgage financier company crossing the Rs two lakh crore mark today.

HDFC scrip gained 2.6% to Rs 1,284 on BSE, taking its market value to Rs 2,01,726 crore at 1041 hours, the BSE data shows.

Mumbai: It started innocuously, on 11 December, at a Tata Consultancy Services Ltd (TCS) press conference in Bengaluru, an annual event to announce the number of new employees TCS would be hiring.

The moment Ajoy Mukherjee, executive vice-president and global head (human resources) at TCS, mentioned the words ‘restructuring’ and ‘layoffs’, the focus shifted. Mukherjee’s other statements, although reported, didn’t. Statements such as these: This is a year-long process. It happens every year. This is for senior and mid-level executives who the company believes are non-performers.

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