Movies and music distributor Eros International Media also debuts on the bourses today. It had priced its IPO at Rs 175 per share. 

ICICI Bank has increased its base rate by 25 basis points (bps) to 7.75%. It has also increased its deposit rates by 25-50 bps effective 6 October 2010. Andhra Bank has hiked its base rate by 25 bps to 8.5%. 

Federal Bank has reportedly hiked its base rate by 25 bps to 8% and Canara Bank has increased its base rate by 50 bps to 8.5% effective 1 October 2010. Also, UCO Bank has hiked base rate by 50 bps to 8.5%. 

The Cabinet Committee on Economic Affairs (CCEA) has reportedly given its go-ahead to divestment of Shipping Corporation of India (SCI). It approved issue of fresh equity of 10% by SCI of its existing equity and sale of 10% of the existing equity out of the government shareholding. 

The income tax department has reportedly raised a demand of about Rs 570 crore on Mahindra Satyam for illegally claiming tax credit on fictitious income between 2003-04 and 2008-09. 

Godrej Properties has signed a development agreement for a 1.35-acre plot in Chembur, Mumbai. The property, which is on the Sion-Trombay highway, has development potential of around 1,50,000 sq. ft.