Business

Bidding opened for retail buyers on Thursday-- which was the second day of the two-day OFS-- during which small investors put in bids for over 4.23 crore shares or 1.07 times the shares reserved for them, as per data available with NSE.

The 30-share Sensex rallied 149.36 points, or 0.44 per cent, to trade at 34,591.41 points.

The Finance Ministry, located in the North Block here, has cited the never-before-used power of issuing directions to RBI Governor to seek a resolution to differences with the central bank, sources said.

The 2-day summit will commence with a select round table to discuss the investment opportunities. The discussion shall witness key Indian and European business representatives to understand the potential of Indian economy.

At the Interbank Foreign Exchange, the rupee opened up at 73.33 to quote 14 paise higher over its previous closing, on increased selling of the American currency by exporters and banks.

Inland Waterways Authority of India (IWAI) officials said the food and Beverage giant would move 16 containers from Kolkata to Varanasi on NW-1.

Petrol in Delhi now costs Rs 80.05 a litre and diesel is priced at Rs 74.05 per litre, according to a price notification issued by state-owned oil firms.

"All the four are promoters of the Sterling Group and have fled the country to avoid criminal probe against them in a Rs 8,100-crore bank loan fraud involving a consortium of banks," a senior official said.

Kotak Bank had on August 2 issued preference shares using the perpetual non-cumulative preference share route, to reduce promoter Uday Kotak's shareholding, which RBI had on August 14 rejected.

Gains in banking and financial services stocks pushed the markets higher. However, losses in IT and pharma counters capped the upside.

Falling crude oil prices eased concerns over forex outflows and supported selling of the US currency by exporters.

The acquisition will give Zydus and Cadila access to brands such as malt-based health drink Complan, energy drink Glucon-D, talcum powder Nycil and clarified butter brand Sampriti Ghee.

ICICI Bank said it had expressed confidence in Kochhar on the basis of the inquiry report of the law firm which was engaged in 2016 to probe the allegations of nepotism and conflict of interest against her.

In June, the Corporate Affairs Ministry, while coming out with the draft norms, said it was keen to introduce a globally accepted and well-recognised cross-border insolvency framework.

In September, Amazon, along with private equity firm Samara Capital, bought Aditya Birla Group-owned 'More' retail chain for an enterprise value of 42 billion rupees ($568.03 million).

LIC has offered to acquire 2,04,15,12,929 equity shares, representing 26 per cent of the fully paid-up equity capital of IDBI Bank as per the open offer process in accordance with Sebi regulations, IDBI Bank said in a regulatory filing.