Moneycontrol Selects: Top stories this evening

A round-up of the big stories

Here is a collection of the most important stories this evening:

India may not extend EV concessions to Chinese firms like BYD over security concerns

While India’s electric vehicle (EV) policy is is widely expected to attract global players into this sector, including Elon Musk’s Tesla Inc, Chinese companies may not be able to enjoy the concessions under the policy. Read more

Taking Stock: Market gains for second session; Sensex up 560 points, Nifty above 22,300

The Indian equity indices extended gains for the second straight session on April 22 following positive global cues as worries over Iran-Israel tensions eased a bit. At close, the Sensex was up 560.29 points, or 0.77 percent, at 73,648.62, and the Nifty was up 189.40 points, or 0.86 percent, at 22,336.40. Read more

Vodafone Idea FPO subscribed 5X on final day, institutional bidders pour money

Vodafone Idea’s follow-on public offer (FPO) was subscribed more than 6 times by April 22, the final day of bidding, with investors bidding for 8,011.8 crore equity shares, subscription data from exchanges showed. Read more

MC Selects

HDFC Bank says 'actively working to resolve' net banking issues

HDFC Bank on April 22 informed that some customers might face issues in accessing its net banking service. The bank said it is "actively working to resolve at the earliest". Read more

Byju’s clears part of salary dues for March ahead of NCLT hearing

Embattled edtech company Byju’s has paid partial salaries to employees for March, sources told Moneycontrol weeks after the company announced clearing salary dues. Read more

TCS won’t give variable pay to employees with less than 60% attendance in office

Tata Consultancy Services (TCS) has linked quarterly variable pay out to employees with their attendance in office. Those with less than 60 percent attendance won’t be eligible for the quarterly bonus, according to the latest policy update coming months after the IT services giant mandated employees to work from office five days a week. Read more

Hindustan Zinc plans $300 mn capex for FY25

Hindustan Zinc has earmarked $300 million for capital expenditure in FY25 to build a new roaster in Rajasthan, Chief Financial Officer Sandeep Modi said in an interview. Modi added that the company’s strong cash flow would cover the project’s cost and wouldn’t require additional borrowing. Read more