Business

The government on Wednesday called for global bids for the privatisation of helicopter service provider Pawan Hans.

Market regulator Sebi is looking to stipulate a framework for timely and detailed disclosures of loan defaults by listed entities to enhance transparency.

The Telecom Commission, the apex decision making body of the telecom department, is likely to meet on August 31 to discuss Trai's recommendation on spectrum allocation, according to official sources.

The trends emerging from the first-quarter results seem positive with corporate India posting a broad-based revenue growth of 22 per cent over the year-ago period. Sales growth during the quarter was led by consumer-oriented and commodity-linked sectors.

State-run power giant NTPC will soon set up a subsidiary to handle its coal mining operations and also plans to enter commercial coal mining after meeting its requirement, an official said.

Investors pumped a staggering Rs 10,585 crore into equity mutual funds in July, mainly driven by strong corporate earnings and a near-normal monsoon.

The rupee breached the psychological barrier of 70 to the dollar on Tuesday but quickly turned around on the back of RBI support and recovery in the Turkish lira, which had been responsible for the turmoil in the currency market.

India may allow the rupee to fall and would only intervene to check any extreme volatility as the tumble of the Turkish lira roils emerging markets, finance ministry officials said.

The Reserve Bank of India has said the recent stake dilution by Kotak Mahindra Bank's founder Uday Kotak does not meet its regulatory norms on the same, something the private sector lender contested.

Sajjan Jindal's JSW Steel has made the highest offer for Bhushan Power and Steel Ltd (BPSL), topping the bids of rival Tata Steel and Liberty House of the UK.