Adani Electricity Mumbai Ltd, the electricity distribution arm of Adani group that supplies power to India's financial capital, sold Yes bank shares worth Rs 202 crore through open market transactions on Thursday, according to data available with the stock exchanges. The bulk deal data available with NSE showed that Adani Electricity Mumbai sold 15 crore shares at an average price of Rs 13.45 apiece, with the transaction value at Rs 201.75 crore. Life Insurance Corp of India had said that it has bought additional shares of the lender through open market purchases. Earlier this month, Moody’s Investors Service upgraded Yes Bank's long-term foreign-currency issuer rating by a notch from Caa1 to B3 after the private lender raised Rs 15,000 crore in a follow-on public offer in July. Yes Bank reported a 60 per

The Federation of Indian Chambers of Commerce and Industry (FICCI) and hospitality firm OYO have said that they have joined hands to develop and design an online training and certification course specifically for the hospitality industry. ‘The course will focus on redesigning the sanitisation protocols and minimising person-to-person contact for a hotel in line with the standard operating procedures announced by the tourism ministry,’ according to a joint statement. The course will help budget, mid-segment and boutique hotels and homestays in India as well as hospitality professionals to maintain and improve their safety and hygiene standards in line with government and industry benchmarks, it added. OYO Hotels and Homes founder and Group CEO Ritesh Agarwal said, ‘The certification course will enable

HDFC Bank, the country's largest private sector bank, cut its marginal-cost based lending rate (MCLR) on loans for all tenors by 10 basis points (bps). The reduction in HDFC Bank's lending rate will make EMIs on home and other loans tied to its marginal cost of funds based lending rate cheaper. According to the HDFC Bank website after the latest rate reduction, its overnight MCLR stands reduced to 7 per cent, while one-month MCLR is 7.05 per cent. Three- month and six-month MCLR stand at 7.10 per cent and 7.20 per cent respectively. One-year MCLR, to which many of the consumer loans are linked, will now be 7.35 per cent, two-year MCLR will now be 7.45 per cent, while three-year MCLR has been set at 7.55 per cent. State-run Canara Bank too announced a reduction in its MCLR by up to 30 basis points across variou

The government on Wednesday extended Ajay Tyagi's term as Sebi chairman by 18 months till February 2022. Appointments Committee of the Cabinet approved extending Tyagi's term as chairman of Securities and Exchange Board of India for a further period of 18 months with effect from 1 September to 28 February 2022. In February 2020, Ajay Tyagi's term was extended by another six months. Tyagi was appointed chairman of the market regulator on 10 February 2017, replacing U K Sinha, and took charge of the chairman office on 1 March 2017. Tyagi is a 1984 batch IAS officer of Himachal Pradesh cadre. He hails from Uttar Pradesh and is a Post Graduate in Economics. He did a Master in Public Administration from Harvard and holds a Master in Technology (Computer Science).

The numbers are eye-popping: 1 million Amazon.com Inc. shares offloaded for more than $3.1 billion. And yet for the seller, Jeff Bezos, it barely puts a dent in his stake in the e-commerce giant. The disposals, disclosed Wednesday in Securities and Exchange Commission filings, adds to a $4.1 billion sale earlier this year. The proceeds are a fraction of the amount that Bezos’s holdings have increased this year as the Covid-19 pandemic forced people to stay at home and created a surge in demand for Amazon’s e-commerce services. For Bezos, 56, this year has been a reversal from years of relative restraint is reducing his stake in Amazon. He still holds more than 54 million shares and is worth $189.8 billion, according to the Bloomberg Billionaires Index. His net worth has surged by $74.9 billion this year wi

Shares of Apollo Tyres has dipped over 4 per cent after the company reported a consolidated net loss of Rs 135 crore for the first quarter ended June 30, hit by lower sales due to coronavirus pandemic. The stock declined 4.14 per cent to Rs 111 on the BSE. At the NSE, it plunged 4.22 per cent to Rs 111. The tyre maker had reported a net profit of Rs 142 crore in the April-June last fiscal. Net sales during the quarter under review declined to Rs 2,828 crore, from Rs 4,272 crore in the year-ago period, Apollo Tyres said in a statement on Wednesday. While the first half of the first quarter was almost a complete washout, our performance has been excellent since the markets opened up, especially in the replacement market. "While the uncertainty will continue, and we will have to find opportunities for growth,

The Adani Gas and French energy major Total SA will soon seek government nod to open retail fuel stations in India, said the former's chief executive officer, Suresh Manglani, on Wednesday. ‘Definitely we will take full benefit of the expertise and strength of Total,’ Manglani had told reporters on an earnings call, adding that the intent was to become a full-service operator providing a multi-fuel offering. The joint venture, Total Adani Fuels Marketing Pvt Ltd, will shortly apply for a licence under the new liberal fuel retailing rules, Manglani said. Last October, Total SA had agreed to acquire a 37.4 per cent stake in city gas distributor Adani Gas Ltd for around Rs 5,700 crore - marking the French energy major’s biggest bet on India’s clean energy push. The proposed acquisition also marked the lar

More than 2,500 YouTube channels were deleted by Google which was tied by China as part of its effort to weed out disinformation on the video-sharing platform. The Alphabet-owned company said the channels were removed between April and June ‘as part of our ongoing investigation into coordinated influence operations linked to China.’ The channels generally posted ‘spammy, non-political content,’ but a small subset touched on politics, the company said in a quarterly bulletin on disinformation operations. Google did not identify the specific channels and provided few other details, except to link the videos to similar activity spotted by Twitter and to a disinformation campaign identified in April by social media analytics company Graphika. The Chinese Embassy in the U.S. didn't immediately respond to a