Business

L&T is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore, marking the country's first-ever hostile takeover bid in the information technology industry.

The benchmark stock indices have delivered a modest 50-60% return during Prime Minister Narendra Modi’s current tenure.

Rakesh Jhunjhunwala added that not only will the new government perform better than it did in the last five years, but the markets would react favourably to the election result as well.

Motilal Oswal estimates a 1.6% decline in Tata Motors consolidated revenue compared with a year ago.

The BSE PSU Banking index was up 4.5%, followed by BSE Capital Goods index (up 4.4%) and BSE Infrastructure index (up 4.3%).

During the last week, the BSE Sensex gained 467.78 points, or 1.24 per cent to close at 37,930.77 on Friday.

Earlier this month, L&T had purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from the open market.

The 30-share BSE benchmark closed 278.60 points, or 0.75 per cent, higher at 37,393.48. It hit an intra-day high of 37,518.94 and a low of 37,052.30.

Builders who have received completion certificate for an ongoing project before April 1, 2019, will have to charge 12 per cent GST from buyers on the balance amount due towards purchase of the flat.

US President Donald Trump said he thought recent discussions in Beijing would be successful and that he was optimistic about resolving the trade spat.

The new employee incentive is part of a program Amazon started a year ago that lets anyone apply to launch an independent Amazon delivery business.

Reliance Industries acquisition of Hamley's will catapult Reliance Brands to be a dominant player in the global toy retail industry, a statement from the company said.

The Wadia group-owned GoAir was the first domestic no-frills carrier to introduce business class way back in October 2008.

One Anil Ambani-led company, the bankrupt Reliance Communications, has seen a decline in the quantum of shares pledged by the promoters.

At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.36, up 4 paise over its previous close.

The resolution of cases of the 12 biggest corporate borrowers - known as the dirty dozen - has been less than satisfactory as only five have seen any resolution at all and the amount recovered has been a fraction of the debt repayment they have defaulted...