Reliance Industries (RIL) kicked off this year’s first benchmark issue of bonds on Thursday by raising $1 billion through a dollar bond issue. The funds would be used for its ongoing capital expenditure, RIL said in a statement.

Despite its rich cash pile (Rs 78,691 crore as of December 2014), RIL prefers to raise debt to finance its ventures. Its cash pile, however, is down from Rs 83,456 crore in December 2013. Between December 2013 and December 2014, RIL’s debt rose from Rs 1,42,084 crore to Rs 1,50,007 crore.

Tata Motors on Thursday launched the Bolt, a hatchback, starting at Rs 4.64 lakh (ex-showroom, Mumbai). The company is pitting this car against segment leaders Maruti Suzuki Swift and Hyundai Grand i10.

The Bolt, Tata Motors’ second launch in five months, is based on the platform of its compact sedan Zest. The base petrol variant of the Bolt costs Rs 36,000 less than the Zest in Mumbai.

The Securities and Exchange Board of India (Sebi) plans a discussion paper on additional measures for algorithmic trading. A note on the conversion of bank loans into equity was also likely, said Sebi Chairman UK Sinha.

Speaking at an Association of Mutual Funds in India meeting, he said Sebi had taken a number of steps on algo trading. “We are likely to take more. We are trying to evaluate what measures to take and what will be their impact. As and when we decide, and it won’t be too long in the future, we will take more measures,” he said.

The half a dozen public interest suits filed in various courts across the country against the proposed launch of the four-wheeled transport vehicle called a quadricycle has been instigated, believes Pune-based Bajaj Auto.

Instigated, I think...I won’t like to say by whom, Kevin D’Sa, its president (finance) told analysts.

Shares of the two state-owned banks Bank of Baroda and Corporation Bank were turned ex-stock split today. Both these banks had subdivided the face value of their equity shares to Rs 2 from Rs 10.

Bank of Baroda and Corporation Bank has fixed January 23, 2015 as Record Date for determining the shareholders of the banks, who are entitled to receive the equity shares of the banks upon the sub division/ reduction in the face value of one existing equity share of Rs 10 each fully paid up into five equity shares of Rs 2 each fully paid up.

India’s equity markets on Wednesday registered new record highs for a consecutive day, led by strong buying from foreign investors. The benchmark BSE Sensex gained 104.19 points, or 0.36 per cent, to 28,888.86, while the National Stock Exchange (NSE) Nifty added 33.9 points, or 0.39 per cent, to 8,729.5.

The indices advanced despite shares of top-weight ITC ending five per cent lower, making 123-point negative contribution to the index. ITC’s rival Hindustan Unilever gained five per cent and was the biggest gainer on the Sensex, followed by Bharti Airtel (four per cent) and HDFC (2.7 per cent).

L&T Finance Holdings Limited is considering putting its hat into the ring for a payment bank licence.

Y M Deosthalee, chairman and managing director, said, "We have evaluated the payment bank option. It will take some more time for us to arrive at a decision."

As companies are moving towards automation, Infosys Chief Executive Officer (CEO) Vishal Sikka on Wednesday said there would be temporary replacement of jobs and lower information technology (IT) costs.

Sikka, who was speaking as a panelist in a session on ‘Inclusive Growth in the Digital Age’ at the World Economic Forum here, said the companies should move towards automation as it would be better in terms of cost.

Tata Motors, the country’s biggest automobile maker, has received the votes needed for paying its executive directors (ED) according to plans that were earlier contested by shareholders and proxy advisory firms.

Remuneration to executive directors Ravindra Pisharody and Satish Borwankar, has been approved not only for the past financial year but for the current and next year. Remuneration to late managing director Karl Slym for last year has also been approved. Voting was carried out through a postal ballot for the special resolution.

Missing Street expectations the tobacco-to-hospitality giant ITC reported a net profit growth of 10.4 per cent at Rs 2,635 crore in the December quarter against Rs 2,385 crore in the year-ago period.

The below-par performance was a consequence of slow growth in the cigarette business. Revenue in ITC's cigarette segment grew 0.6 per cent year-on-year to Rs 4,142 crore. Analysts said ITC's decision to increase prices of cigarettes after the excise duty on these was raised pulled down sales volume by 15 per cent year-on-year.

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