Business

To be done through block deals by HSBC Securities, the two stake-sales could be worth about Rs 2,430 cr at the prevailing market price of the India-based lenders.

No-frills carriers increased their marker share in May, while the struggling Air India (AI) and Kingfisher Airlines continued to lose in the marketplace sweepstakes.

At a financial sector event in Mumbai, leaders of banking and corporate world queued up to garland Mukherjee.

The agency said on Friday that it sees Nokia's restructuring as necessary for it to return to profitability.

The sale of passenger vehicles stood at 20,970 units in May, 2012, up 6 per cent from the same month last year.

The BSE benchmark fell as much as 221 points intraday, before closing down 202.63 points at 16,677.88, which shot up more than 900 points in previous seven out of eight sessions

Pranab Mukherjee said the recent decisions on restructuring of loans in the textile sector and power distribution companies were good examples of NPA management.

Loop Telecom seeks refund of Rs 1,454 crore paid for 2G licence and Rs 1,000 crore damages for loss of reputation.

The cash-rich Indian explorer has been aggressively scouting to bolster its overseas assets portfolio.

Politicians and regulators should focus on removing ambiguity and advocating transparency.

In view of the impact of declining value of rupee, which touched Rs 56 to a dollar, the state-owned Oil Marketing Companies (OMCs) raised petrol prices by over Rs 7 a litre.

On Friday, rupee plunged to its new all-time low of 54.90 per US dollar before settling at 54.42.

The rupee made a new low of 54.91 against $, marking its third consecutive record low in a row.

Risk assets continued to be beaten down on worries about the future of the euro zone.

The economy probably grew 6.9 per cent in the previous fiscal year, its slowest in three years.

India's largest lender State Bank of India tanked 2.3 per cent while its rival ICICI Bank fell over 1 per cent.