The Reserve Bank of India has approved the Life Insurance Corporation of India (LIC) to raise its stake in IndusInd Bank by up to 9.99 per cent. The insurer holds 4.95 per cent in the private lender.

The bank, in a BSE filing, said it the central bank told it about the approval on Thursday. The approval is subject to compliance with various regulations and rules including Master Direction on 'Ownership in Private Sector Banks and regulations of the Securities and Exchange Board of India.

(Reuters) - Oracle Corp reported upbeat second-quarter results on Thursday, as the IT-services turned cloud solutions player benefited from a rebound in tech spending from businesses looking to support hybrid work.

The company's shares rose 5.1% in extended trading.

Automaker MG Motor India said that it will "drive" an electric vehicle priced between Rs 10-15 lakh by the end of the next fiscal.

At present, the company sells electric SUV 'ZS EV' which is available in two variants, priced at Rs 21 lakh and Rs 24.68 lakh (ex-showroom). It plans to launch an electric crossover vehicle based on a global platform but customised for the Indian market as its next new product.

Lok Sabha on Thursday condoled the demise of Chief of Defence Staff (CDS) General Bipin Rawat, his wife Madhulika Rawat and 11 others who lost their lives in the IAF chopper crash.

General Rawat was travelling from Sulur to Wellington in Tamil Nadu when his helicopter crashed near Coonoor on Wednesday.

Homegrown pharma major Dr Reddy's Laboratories on Thursday said it has launched Valsartan tablets, used for treatment of high blood pressure and heart failure, in the US market.

The Valsartan tablet is the generic therapeutic equivalent of Diovan, approved by the US Food and Drug Administration (USFDA), the company said in a regulatory filing.

India’s TVS Motor Company, the flagship of the $8.5 billion TVS Group, said on Thursday it has a new distribution partnership with Active Motors SA for Nicaragua and Costa Rica to expand its business in Central America further.

Active Motors SA, a subsidiary of Grupo Q, will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM).

Tata Motors will invest Rs 7,500 crore in five years in commercial vehicles (CV) as it seeks to recast the business and focus on electric vehicles (EV), the Economic Times reported on Thursday citing "people in the know".

The company intends to lead the EV segment in the commercial market as it did with conventional powertrains before, Girish Wagh, executive director--commercial vehicle business unit, told the newspaper. He expects electrification in CVs to happen first through gaseous fuels like CNG.

Shares of Vodafone Idea (Vi) hit a fresh 52-week high of Rs 16.40, on surging 15 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes after the media report suggest that the company managed to raise funds for repayment of interest to bondholders on time.

The stock of telecom service provider was trading at its highest level since May 7, 2019. It surpassed previous high of Rs 15.88 hit on December 6, 2021.

Shares of Devyani International continued their northward journey for the third straight trading day, and were up 8 per cent at Rs 190.20 on the BSE in Thursday’s intra-day trade.

The stock of the quick service restaurant (QSR) firm was trading at its new high, and has rallied 29 per cent in the last three trading days. With the current surge in market price of the company, the stock has zoomed 111 per cent from its issue price of Rs 90 per share.

The price of 10 gram of gold increased by Rs 20 on Thursday, with 24-carat of it trading at Rs 47,840 and 22-carat at Rs 46,840.

The price of 1 kg of silver increased by Rs 700, with the precious metal trading at Rs 61,900.

In Delhi, the price of 24-carat gold stands at Rs 51,390, while in Mumbai it is at Rs 47,840, according to the Goodreturns website.

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