We maintain an outperformer rating on Wipro with a 12-month price target of Rs 670 ((17x FY16e EPS), implying an upside of more than 15%. Wipro's stock has underperformed the Sensex and CNX IT Index by ~24% and ~11% YTD, respectively, on the back of below-industry average growth. We believe strong deal win momentum will reflect in the improved revenue growth trajectory over FY15/ 16e as client-specific issues are behind.

The Securities and Exchange Board of India (Sebi) has saved the government from a certain defeat it would have faced at the hands of minority investors of Oil and Natural Gas Corporation (ONGC) in the matter of subsidy payout to downstream marketing companies.

The Pradhan Mantri Jan Dhan Yojana offered an opportunity for local banks to grow their businesses in the current uncertain economic environment, says Uday Kotak, executive vice-chairman and managing director of Kotak Mahindra Bank.

"The banking industry is presently in the midst of significant stress. The Jan Dhan Yojana has a great vision, but execution is important.

Flush with funds, the country’s largest commercial bank, State Bank of India, has cut the interest rate on medium-term deposits (one year to less than three years maturity) by 25 basis points (bps) to 8.75 per cent.

It also raised the deposit rate by 25 bps in the 180-210 days category to 7.25 per cent. The new rates will be effective from Thursday.

Mahindra & Mahindra (M&M), the market leader in India's tractors and utility vehicles segments, is in advanced talks to buy PSA Peugeot Citroen's scooter business, according to a Bloomberg report.

"An announcement may be made soon," the agency quoted two people as saying. The sources declined to be identified, as the discussions were private.

In 1987, a move by Manu Chhabria to pick up a one per cent stake in Larsen & Toubro (L&T) triggered multiple controversies that ended only 16 years later in 2003, after many riveting political and boardroom dramas. By then, two of the corporate protagonists were dead and employees of the giant engineering conglomerate had taken charge of its destiny

Pune-based IT professional Anurag Mohan's decision to buy the diesel Maruti Suzuki Swift on advice of friends and family may not give him the advantage he is looking for.

The narrowing gap between petrol and diesel prices and the 20-25 per cent premium charged over petrol variants are making diesel car models unviable.

Bangalore-based publicly-held infrastructure developer GMR Infrastructure plans to raise Rs 1,500 crore in equity through a rights issue, which, along with the recently-concluded qualified institutional placement issue of Rs 1,500 crore, is expected to ease leverage.

The foreign portfolio investors (FPIs) structured as companies recently received communications from the tax department asking them to pay minimum alternate tax (MAT) on their gains in Indian markets. The notices, sent in May and June, were with respect to the assessment years 2008, 2009 and 2010.

Mumbai: State Bank of India (SBI) on Tuesday adjusted interest rates offered on fixed deposits across some maturities.

The country’s largest lender raised deposit rates for deposits between 180 days and 210 days from 7% to 7.25%. For deposits from one year to less than three years, SBI has brought down its interest rate to 8.75% compared with 9% offered earlier, the bank said in a filing with exchanges.

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