Country’s largest lender by market value HDFC Bank today raised Rs 9,880 crore in the largest share sale in the secondary market by a private entity to overseas and domestic investors through a mix of qualified institutional placement and American depository shares.

Merchant bankers said the issue has been successfully closed and the final pricing is expected shortly.

India has for the first time managed to find a place among the top three countries generating most number of billionaires in the world with Reliance Industries’ Mukesh Ambani, heading the Hurun Global Rich List-India 2015 of wealthiest in the country.

The India list gives details of the richest people in the country with a cut off wealth of Rs 6,000 crore. Mukesh Ambani with a a wealth of Rs 1.2 lakh crore tops the list among billionaires in the country, followed by Dilip Shanghvi of Sun Pharma with an estimated wealth of Rs 1.02 lakh crore.

Shares of all three listed state-owned oil marketing companies – Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) are trading higher between 1-3% on BSE after Brent crude dropped to $48.44 a barrel.

Brent crude oil futures edged higher after big losses in the previous session, after China took steps to pour fresh liquidity into the world's second-biggest economy to spur activity. Brent for March settlement was up 50 cents at $54.66 a barrel.

The government's move to relax regulations governing Offer for Sale (OFS) may hit a Sebi roadblock.

Sources close to the development indicate that Sebi may not be able to accept all the considerations for OFS mechanism while divesting stake in Public Sector Undertakings (PSU).

Maintain buy on Ashok Leyland (AL) and raise target price to Rs 77. We value the standalone business at R71.7 per share based on 9x FY17f ebitda of R2,560 crore. Our target price moves up due to 23% increase in our FY17f ebitda estimates; lower net debt of R2,650 crore in FY16f versus R3,380 crore earlier due to strong profitability and some non-core asset sale; roll forward to March 2016 from November 2015 earlier and inclusion of value of Optare and Hinduja Energy as the company is looking to unlock value by divesting stakes in these companies.

The benchmark BSE Sensex extended losses for the fifth straight day by falling over 58 points in early trade today on sustained selling by funds amid a mixed trend in other Asian markets.

The 30-share index, which has lost 798.66 points in the previous four sessions, fell further by 58.23 points, or 0.20 per cent, to 28,824.88.

If the Aditya Birla Group’s mobile telephony arm Idea Cellular is allowed to set up a payments bank, the entity would break even in seven years, the company has projected to the central bank.

Idea Cellular and its parent company, Aditya Birla Nuvo, on February 2 applied to the Reserve Bank of India (RBI) for a payments bank licence. AB Nuvo will hold 51% in the proposed bank while Idea Cellular will hold the rest.

The Madras High Court on Wednesday dismissed petitions by Hyundai and BMW questioning the Competition Commission of India’s (CCI) powers to expand the scope of investigations beyond the limit of the original complaint.

Mumbai: Tata Consultancy Services Ltd (TCS), India’s biggest software services exporter, is relaunching the TCS graduate programme in Australia to create new tech job opportunities for Australian graduates.

Inductees in the 2015 batch have been selected from leading universities and will participate in a three-month training programme in Australia and India that started on 31 January.

Taipei: A TransAsia Airways Corp. turboprop plane crashed into Keelung River near Taipei killing at least 12 people, the second accident in less than a year for the Taiwanese airline.

Sixteen people were injured and 30 people are missing from Flight 235, Taipei City government said on Wednesday. There were 53 people and five crew members on board. GE235 crashed at about 10:45 am local time, Thomas Wang, a spokesman for the Aviation Safety Council said.

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.