Corporates

According to official sources, while OIL may pick up close to 48 per cent stake, Assam has indicated that it will pick up the remaining to raise its stake to 26 per cent from 12.4 per cent. Assam Commerce and Industry Minister Chandra Mohan Patowary recently stated the state government's willingness to pay up to Rs 2,000 crore to pick 13.6 per cent of BPCL stake in the refinery.

The apex court said it would hear the matter along with the main plea filed by Tata Sons against NCLAT's verdict.

The board's decision to recruit a global head-hunting firm comes as a six-member internal search committee has not been able to reach a consensus on selecting a successor to Aditya Puri.

"Given our goal to become the world's largest solar power company by 2025 and the world's largest renewable power company by 2030, we feel confident that we will be able to lead one of the fastest global carbon offsets. We are looking forward to this transformation," said Mr Adani in a LinkedIn post.

Vodafone joins PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe and Booking Holdings in withdrawing from the controversial project -- and is the first company to exit the Libra Association that was formed in October last year, CoinDesk reported on Tuesday.

The facility will enable a "safe and secure" more of withdrawing cash from an account using mobile app iMobile, according to ICICI Bank.

The telecom companies said they wanted an open-court hearing on their fresh pleas with regard to working out fresh schedule of payment of their dues.

According to the telecom department, Bharti Airtel owes around Rs 23,000 crore, Vodafone Idea Rs 19,823.71 crore and Reliance Communications Rs 16,456.47 crore.

Post market hours on Friday, HDFC Bank reported a stellar 32.8 per cent increase in its net profit for the quarter ended December 31, 2019. The private lender posted a consolidated net profit of Rs 7,416.5 crore in the third quarter of this fiscal, as opposed to Rs 5,585.8 crore in the corresponding quarter last fiscal. Net interest income (NII), the difference between interest earned and interest paid, for Q3 FY20 increased 19.9 per cent to Rs 14,173 crore on the back of growth in advances.

Post market hours on Friday, the country's largest software services company reported net profit of Rs 8,118 crore in the quarter ended December 2019, marking an increase of 0.9 per cent from profit of Rs 8,042 crore in the previous quarter. TCS' revenue from operations rose 2.25 per cent to Rs 39,854 crore from Rs 38,977 crore in the previous quarter.

The net profit of Reliance Jio Infocomm, the telecom arm of Reliance Industries, rose 62 per cent to Rs 1,350 crore in December quarter, Reliance Industries said. Reliance Jio's revenue rose 28 per cent to Rs 13,968 crore. The net profit of the retailventure, Reliance Retail Ventures more than doubled to Rs 1,757 crore and revenue rose 27.4 per cent to Rs 45,327 crore.

Bharti Airtel Rs 179 Plan : The Rs 179 pack is designed to serve entry-level smartphone users and feature phone users in semi-urban and rural markets, Bharti Airtel said. Subscribers to the Rs 179 prepaid bundle will get the facility of unlimited calling to any network, 2 GBs of mobile data, 300 SMSs and a term life cover of Rs 2 lakh from Bharti AXA Life Insurance.

"Piramal Enterprises Limited today announced that PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of PEL and the holding company for DRG... has signed a definitive agreement for the sale of DRG to Clarivate Analytics plc, a global leader in providing trusted insights and analytics, for a sale consideration of US$950 million," the company said in a statement on Friday.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said, -Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. We are delivering on our promise to be the driver of digital revolution in the country. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services".

HSBC said it could not provide a comment as the bank is in a closed period ahead of reporting full-year results for 2019.The cuts come as the bank's interim chief executive Noel Quinn prepares to update investors on the lender's new strategy when it reports the results on Feb