Encouraged by moderation in food inflation to 7.58 per cent for the week ended July 9, Finance Minister Pranab Mukherjee on Thursday expressed hope that price situation would improve in the days ahead.

The government on Thursday approved merger of State Bank of India Commercial and International Bank Ltd (SBICI) with its parent bank SBI.

Inflation of overall primary articles stood at 11.13 per cent during the week under review

JSW Energy today reported a 54% decline in its consolidated profit at Rs 136.31 crore in the June quarter, bogged down by delays in power procurement by distribution licencees as well as higher fuel costs.

Buoyed by an about 33% jump in profits during 2010-11, fertiliser firm Paradeep Phosphates (PPL) has launched new projects worth Rs 600 crore to substantially raise capacities and efficiencies at its different plants.

The L&T Group's financial services arm, L&T Finance Holdings, today said its initial public offer (IPO) that hits the capital market on July 27 will mobilise up to Rs 1,245 crore through dilution of up to 17% of its stake.