Sensex rises 67 points, Reliance Industries Ltd surges over 6%

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Sensex rose by 66.79 points, or 0.33 per cent, to 20,105.83 in early trade. (Reuters) Sensex rose by 66.79 points, or 0.33 per cent, to 20,105.83 in early trade. (Reuters)
SummarySensex rose by 66.79 points, or 0.33 per cent, to 20,105.83 in early trade.

said.

L&T Finance is in advanced stages of negotiations to buy Morgan Stanley's wealth management business in India, said a person familiar with the matter.

Reliance Industries Ltd posted its first profit increase after four quarters of declining returns, buoyed by improving margins in its core oil refining business.

Separately, Reliance Industries plans to consolidate all its retail units under a single entity, a person with the direct knowledge of the development said.

ONGC Videsh Ltd, the foreign investment arm of Oil and Natural Gas Corp Ltd, has discovered oil on an onland block, CPO-5, in Colombia, it said in a statement on Sunday.

Reliance Industries has requested the Bombay High Court to defer its proceedings on a writ petition filed by SEBI against a November order by the Central Information Commission (CIC) till proceedings before the Delhi High Court in the matter are heard and disposed.

Global prices for liquefied natural gas are rising toward record highs this year, and countries such as Brazil, Argentina, China and India that rely on short-term deals that could face the biggest hit.

INFRASTRUCTURE

Ultratech Cement Ltd said October-December net profit fell 3 percent to 6.01 billion rupees from a year ago.

AIRLINES

A core group of lenders asked Kingfisher Airlines Ltd to infuse at least 8 billion rupees ($148.66 million) into the carrier before the banks considered any further loan recast and the extension of a no-objection certificate, according to two senior bankers.

Boeing Co. is liable to compensate state-run Air India for the grounding of 787 Dreamliner passenger jets on safety issues, Indian aviation minister Ajit Singh told reporters on Friday.

IT

In 2013 software outsourcing deals worth nearly $50 billion are coming up for renewal, setting up a potentially fierce fight for contracts.

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