Realty major DLF, engineering behemoth Larsen and Toubro (L&T) and FMCG (fast moving consumer goods) giant ITC are among the eight ‘conviction ideas’ of Goldman Sachs according to a September 2014 report.

Grasim Industries, IndusInd Bank, Petronet LNG, Voltas and Tech Mahindra are other stocks in this list, where the upside from closing price levels of September 4, 2014 over the next 12 months could range between 1.4 and 74.5 per cent, the report says.

State Bank of India (SBI), the country's largest lender, has requested the Reserve Bank of India to allow it to waive the condition of mandatorily entering the mandatory PIN for certain transactions.

“We have requested the central bank to (do so) in the case of Tap and Go cards that we are planning to launch. If allowed, Rs 2,000 has been requested by us per transaction and appropriate daily limits would be fixed, subject to approval from RBI/ bank's Board.

30% due to slowdown Lanco Infratech Q4 loss widens to Rs 584 cr income down 23% Lanco loss widens to Rs 530 cr on receivables, fuel shortage Some relief for Lanco Infratech Lanco Infratech Sep quarter net loss widens to Rs 581 crore Lanco Infratech Ltd On BSE 8.05-0.24 (-2.90%) On NSE 8.05-0.20 (-2.42%) 09:30 10:00 10:30 8.0 8.1 8.2 8.3 8.4 2Y1Y6M1M5D1D Lanco Infratech, which has interests in infrastructure, power and realty segments, retrenched 30 per cent of its 5,700 workforce during the last financial year due to slowdown in development of some of its projects amid subdued market conditions.

According to the latest annual report of the infra major, the group, which had a workforce of 5,700 by the end of March 2013, cut down its workforce to 4,000 by the end of March this year. By the end of FY12, it had nearly 8,000 employees, the report said.

After drawing flak from various quarters for its slow pace of work, state-run Oil and Natural Gas Corporation (ONGC) has decided to delegate decision-making powers to its officials in order to speed up its various exploration and production projects. Over the past decade, ONGC has seen oil and gas output from its field decline steadily.

Two decades after joining Imperial Tobacco Company as a "management pupil" in 1948, Ajit Narain Haksar, a Harvard Business School alumnus, became its first Indian chairman. A year later, the Imperial in the company's name became India, and in 1974, it became plain ITC.

The name change was done with a purpose. Haksar had realised by then that the company needed to diversify as the business environment is changing and it would be difficult - even risky - to stick to the tobacco business alone partly also because of the restrictions imposed by the Monopolies and Restrictive Trade Practices Act of 1969.

Vishal Sikka, the first non-founding chief executive officer (CEO) of India's second-largest information technology (IT) services company Infosys, is going all out to understand and overcome the challenges surrounding the company as well as to establish a strong bond with the 160,000-odd employees there.

After spending time at several of the company's delivery locations in India over the past week and holding town hall discussions with employees, on Monday Sikka wrote to the company's staff seeking their views on how to improve Infosys.

Japan's small car major Suzuki Motor Corporation has clocked four million milestone in total global sales of its successful premium hatchback Swift with about half of them coming from India.

According to information available on the company's website, Swift, which was launched as a world strategic model in 2004, reached cumulative worldwide sales of four million units in August 2014 -- nine years and nine months since the start of sales in 2004.

Mahindra & Mahindra (M&M), the utility vehicle manufacturer, is set to launch its new facelifted sports utility vehicle (SUV) Scorpio, which is expected to hit the markets during the upcoming festive season.

According to market sources, M&M will launch its new Scorpio before the start of the festive season even as several other competitors have lined up critical launches during the festival season, considered to be an auspicious time by buyers for making high value purchases.

Shares of Oil and Natural Gas Corp (ONGC) appreciated 2.5% to Rs 454 on the BSE after Bank of America Merrill Lynch upgraded the stock to "buy" from "neutral".

BofA says it expects more gains from oil reforms than earlier and raises target price to 534 rupees from 466 rupees.

Shares of L&T have gained nearly 1% to Rs 1,623 on the BSE after the company said its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) has secured new orders in the offshore and onshore segments worth Rs 1920 crore from domestic oil and gas majors.

An offshore contract worth Rs 1340 crore from Oil & Natural Gas Corporation (ONGC), includes engineering, procurement, construction and installation of five wellhead platforms at the Mumbai High North field of ONGC. The project is scheduled for completion by March 2016, L&T said in a statement.

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