The crushing defeat of India’s ruling BJP in the Delhi assembly elections has brought Prime Minister Narendra Modi “down to earth” and the poll results will increase the “enormous pressure” on him to deliver on his economic and governance promises, according to a media report.

The election defeat for Modi comes days after the successful visit of US President Barack Obama to India and following the biggest national election victory by his party in three decades, the New York Times editorial board said.

Mumbai: India’s benchmark index, S&P BSE Sensex, rose for the second consecutive day on Wednesday, led by shares of capital goods, healthcare and power companies, and banks.

The 30-share Sensex closed 0.63%, or 178.35 points, higher at 28,533.97, while the National Stock Exchange’s broader 50-share CNX Nifty gained 0.72%, or 61.85 points, to end at 8,627.40.

Mumbai, Feb. 10: Reliance Communications (R-Com) has joined hands with Facebook to offer free data access to 33 websites to its customers through Internet.org.

The facility will also be available to new customers of R-Com.

NEW DELHI: The Competition Commission has ordered a fresh probe against realty major DLF, finding the company to have prima-facie abused its dominant position, making it the second such probe ordered within two days. The new order, in which CCI has asked its investigative arm to conduct a detailed probe, relates to alleged "abuse of dominant position in development and sale of residential units in Gurgaon" for the Skycourt residential project of DLF Universal Ltd.

NEW DELHI: The oil ministry has found as legally and contractually untenable Reliance Industries' notice for arbitration - fifth in a series - against an October 2013 order taking away 81% area of the Andhra offshore KG-D6 block, including several discoveries estimated to hold a trillion cubic feet of gas.

Snapping a seven-day losing streak, the benchmark BSE Sensex today rose over 128 points on value-based buying in auto, banking and metal shares on a day when the Bharatiya Janata Party (BJP) was trounced by Arvind Kejriwal-led Aam Aadmi Party (AAP) in Delhi assembly elections.

A positive macro-outlook also helped the market ended the day in green, brokers said.

Larsen & Toubro posted an 8.8 per cent rise in consolidated net profit for the third quarter, on the back of revenue growth. However, the results failed to meet the Street expectation. The company also disappointed by lowering its order growth forecast (‘guidance’) to 15-20 per cent from the 20 per cent at the start of the financial year, anticipating delays in order booking.

ICICI Bank, the largest private sector lender in the country, has initiated the process of repatriating capital from its Canadian arm for the second time in as many years. The bank is also planning to optimise the capital invested in its United Kingdom subsidiary.

“The bank and its UK and Canada subsidiaries also continue to work towards optimising the capital invested in these subsidiaries. ICICI Bank Canada has made an application to the Office of Superintendent of Financial Institutions, or OSFI, seeking approval for a second round of capital repatriation,” NS Kannan, executive director of ICICI Bank, told analysts during a recent interaction.

NTPC BHEL Power Projects Private Limited (NBPPL) today signed a memorandum of understanding (MoU) with APGenco for supply of spare parts for coal and ash handling plants and other equipment required by the Andhra Pradesh power utility’s thermal power plants.

It may be recalled that the joint venture company, NBPPL, was set up by the two public sector Maharatna companies to establish a power plant components manufacturing facility at Mannavaram in Chittoor district of Andhra Pradesh.

Continuing to build on its fund portfolio, Ahmedabad-based venture capital firm GVFL, a pioneer of Venture Capital, has launched its new MSME Fund titled 'Value Multiplier Fund'. At a size of Rs 600 crore, the fund, which aims to invest in MSMEs / startup companies across sectors in India, bagged SEBI approval recently.

The fund will be invested in young companies with scalable business model, large target market, high entry barrier / first mover advantage, and supported by sound management team. Mihir Joshi, President & CEO, informed that its Value Multiplier Fund has received approval from SEBI as Category I (SME Fund) under AIF Regulations.

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