Bajaj Auto has gained around 3% after Bank of America-Merrill Lynch upgraded its stocks from "underperform" to "buy", citing higher volume and average selling prices, and increased contribution from dirt-bike making affiliate KTM.

Bajaj Auto, which is going to announce its Q2 earnings later Tuesday, is expected to see its net profit grow by 3% on an annual basis, according to market analysts.

The rupee hit 60.90 in opening trade, its highest since Sept 23.

The pair is trading at 60.96/97 versus Monday's close of 61.0950/1050.

While retail inflation in September hit record low, rate cuts by the RBI is still unlikely.

IRCTC on Monday launched its Android app, IRCTC Connect, allowing users to search, book and cancel tickets at a click of button. The app has already been downloaded 5000 times and has received an average 4.2 rating on Google Play.

The app allows users tosearch, book, cancel tickets and view train routes and schedules. Existing users have the option of one-step login while new users can register directly on the app. The app also provides users with alerts on their upcoming journeys.

NEW DELHI: Petrol prices are poised to fall to a 16-month low before Diwali as state oil firms plan to cut rates by about Re 1 a litre because the global oil market is in a bear phase, with Brent crude dropping more than 20 per cent since its June peak, government and industry sources said. The government, which regulates retail prices of diesel, is also considering cutting diesel prices as retailers are getting over Rs 3 per litre more than the market rate, sources said. State-run Indian Oil Corporation BSE -0.82 % ( IOC BSE -0.82 %), BPCL BSE -1.32 % and HPCL BSE -0.44 % are expected to hold a meeting this week to slash petrol prices. But, the decision on diesel price cut would require a Cabinet approval, which is expected after assembly elections, sources said.

BSE is in talks with asset managers to launch an exchange-traded fund (ETF), based on its climate change index in the next couple of years, chief executive Ashishkumar Chauhan said on Monday.

BSE launched the S&P Carbonex index in 2012, centred on its popular BSE 100 index, giving increased weighting to companies depending on carbon footprint scores.

The Securities and Exchange Board of India (Sebi) wants other financial sector regulators to emulate its investor awareness and education initiatives. At a recent meeting of the Financial Stability and Development Council, apex body for financial sector development and regulation, it expressed concern over the lack of initiatives from its counterparts in investor education, said sources.

Sebi is said to have told the others it had spent about Rs 40 crore on investor awareness programmes last year. And, that other regulatory bodies should begin spending more on this cause.

Reliance Industries Ltd (RIL) beat analysts’ expectations during the July-September quarter, with its profit increasing 1.7 per cent over the year-ago period. Even as lower exports, a decline in crude oil prices and reduced refining and oil & gas volumes had a bearing on the company’s earnings during the quarter, higher profitability in the core refining & petrochemicals business helped. Good sales in the organised retail space also boosted the numbers for RIL.

On a consolidated basis, Reliance Industries’ turnover in the period stood at Rs 1,13,396 crore, a drop of 4.3 per cent from Rs 1,18,439 crore a year ago. At Rs 5,972 crore, however, its net profit was 1.7 per cent higher than Rs 5,873 crore in the same period last year. The value of its exports from India stood at Rs 66,065 crore, 14.7 per cent lower than Rs 77,428 crore in July-September 2013.

JP Morgan has cut its India GDP growth projection for 2014-15 to 5.1% from 5.3% after weak factory output data.

IIP (industrial production) debacle is the straw that breaks the camel's back," JP Morgan said in its Oct 10 report.

MUMBAI: Private sector lender Kotak Mahindra Bank (KMB) today launched a Facebook-based instant fund transfer service wherein one can send money to friends on the social media network real time, for free.

This is a bank agnostic product, the sender and the receiver may not be our account holders. We have used the IMPS platform on the National Payments Corporation of India (NPCI) network to make this possible, KMB's executive vice president and head of digital initiatives, Deepak Sharma, told PTI over phone.

Infosys is trading higher by nearly 2% at Rs 3,952, extending its Friday’s nearly 7% rally, after the company reported a better-than-expected consolidated net profit at Rs 3,096 crore for the second quarter ended September 30, 2014 (Q2) besides declaring 1:1 bonus.

The stock opened at Rs 3,898 and hit new high of Rs 3,959 on National Stock Exchange (NSE). A combined 1.92 million shares changed hands on the counter so far on NSE and BSE.

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