Real estate company DLF has moved the Supreme Court seeking exemption from paying the balance amount of R580 crore from the R630-crore penalty imposed by competition watchdog CCI for abusing its dominant market position with regard to a residential society in Gurgaon. Instead, it wants to offer land worth R580 crore as security for the balance amount.

The abrupt exit of Infosys BPO chief executive officer (CEO) and chief financial officer (CFO) has raised further questions on the procedures and financial controls at India’s second-largest IT services exporter, according to an anonymous e-mail sent to media houses here. The e-mail claims that the issue relating to over-billing of Infosys BPO customer — Apple — over a period of 18 months had the oversight of the top management.

Shares of ING Vysya Bank and Kotak Mahindra Bank have rallied by up to 6% in early trade on BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.

The BSE said that the Exchange has sought clarification from Kotak Mahindra Bank Ltd with respect to the media report appearing on ETNOW on November 19, 2014 titled "Kotak Bank may merge ING VYSYA with itself in the ratio 2:2.5, deal likely to close within one month.”

Shares of State Bank of India (SBI) is trading higher by 1% at Rs 294 in early trade on the National Stock Exchange (NSE) after the stock turned ex-stock split today.

The stock opened at Rs 295 and touched a low of Rs 291 so far. A combined around one million shares changed hands till 0917 hours on NSE and BSE.

The BSE Sensex and Nifty fell on Wednesday, retreating from record highs hit earlier in the session as investors pared positions in blue-chips such as Tata Motors after foreign investors marked their first sale of cash shares in three weeks.

Foreign institutional investors sold Indian shares worth Rs 102 crore ($16.5 million) on Tuesday, marking their first sale since October 28. Overseas investors have been key drivers of the stock market rally this year, buying a net $15.47 billion worth of shares so far in 2014, according to regulatory data.

Axis Bank-country’s third largest private sector bank-has launched a self-service terminal that enables customers to deposit as well as withdraw cash from the same machine.

Customers can initiate a deposit transaction through these terminals even without using a debit card. If the customers PAN details are available with the bank then there is no restriction on the amount of cash being deposited, the bank said.

NTPC Ltd, a maharatna PSU, that is in the course of implementing two super thermal power plants in Odisha, has now decided to commit investments in solar energy sector in the state.

“The state government has suggested to us that we should invest in solar power and we are okay with the proposal. Nationwide, NTPC has been mandated to generate 3,000 Mw solar power,” said NTPC chairman and managing director Arup Roy Choudhury after meeting chief minister Naveen Patnaik.

The country’s largest power producer, NTPC Ltd has evinced interest to develop the 2,400 Mw coal-based power station proposed at Kamakhyanagar in Dhenkanal district through the joint venture (JV) route.

NTPC’s chairman and managing director, Arup Roy Choudhury today called on chief minister Naveen Patnaik and presented the proposal to the latter. But it is not clear the percentage of stake NTPC would have in the JV company.

If there was one outlier in the fast moving consumer goods, or FMCG, universe in the last few years, it was ITC. When most FMCG companies started to feel the chill of a slowdown as high inflation cut into consumers' spending power, the Kolkata-based maker of Vivel soaps and Bingo snacks continued to maintain steady revenue growth of 25-30 per cent a quarter.

The board of Securities and Exchange Board of India (Sebi) on Wednesday cleared big-bang market reforms, including a move to replace the two-decade-old insider-trading rules with the new prohibition of insider trading (PIT) regulations, and amending the existing delisting regulations.

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