Top headlines: Ruchi Soya shares surge; Hero Moto stock tanks 7%

Business Standard brings you the top headlines on Tuesday

Ruchi Soya zooms 20% as co says SMSes pertaining to FPO not issued by it

Shares of Ruchi Soya surged up to 20% on Tuesday after the company, through newspaper advertisements, clarified that the SMSes pertaining to investments in its follow-on public offering (FPO) have not been issued by the company or its promoters.

The advertisements reportedly came after market regulator Securities and Exchange Board of India (SEBI) directed the company to give the investors who participated in its Rs 4,300-crore follow-on public offering (FPO) the option to withdraw their bids due to "circulation of unsolicited SMSes advertising the issue". Read more

Hero MotoCorp made over Rs 1k-cr bogus expenses, I-T search reveals: Report

The Income Tax Department has found that Hero MotoCorp made more than Rs 1,000 crore bogus expenses and over Rs 100- crore cash transactions for a farmhouse in Chhattarpur, Delhi, sources told ANI.

Income Tax Department carried out a search and seizure operation on March 23 on Hero Motocorp and its chairman and managing director Pawan Munjal at multiple locations in Delhi-NCR, which concluded on March 26.

The search operations covered more than 40 premises spread over different locations in Delhi-NCR. On Tuesday, the company's scrip on BSE closed trading 7% lower at Rs 2,208. Read more

Ukraine, Russia hold new talks in Turkey aimed at ending the fighting

The first face-to-face talks in two weeks between Russia and Ukraine began Tuesday in Turkey, raising flickering hopes there could be progress toward ending a war that has ground into a bloody campaign of attrition.

Ahead of the meeting in Istanbul, the Ukrainian president said his country is prepared to declare its neutrality, as Moscow has demanded, and is open to compromise over the contested eastern region of Donbas comments that might lend momentum to negotiations. Read more

Assam and Meghalaya sign pact to resolve border dispute in six places

Assam and Meghalaya on Tuesday signed an agreement to resolve their five-decade-old border dispute in six of the 12 locations, with Union Home Minister Amit Shah calling it a "historic day" for the Northeast.

The agreement was signed in the presence of Shah and Chief Ministers of Assam and Meghalaya Himanta Biswa Sarma and Conrad Sangma respectively. Read more