Mahindra & Mahindra overall July sales up 6%

Leading SUV manufacturer Mahindra & Mahindra (M&M) on Tuesday reported an increase of six per cent in its overall sales for July.

According to M&M, its total sales for the month under review increased to 41,747 units from 39,458 units sold during July 2016.

The company's domestic sales were higher by 13 per cent to 39,762 vehicles during last month

Ford India sells 26,075 vehicles in July

Car maker Ford India on Tuesday said it closed July sales book selling 26,075 vehicles.

In a statement, the company said its combined domestic wholesales and exports in July reached 26,075 vehicles from 17,742 in the corresponding month last year.

July domestic wholesales recorded 8,418 vehicles, as against 7,076 units last year, while exports grew to 17,657 vehicl

JSW Steel quarterly profit plunges 44 percent, but beats estimates

India's biggest steel producer, JSW Steel Ltd, said on Tuesday net profit fell 44 percent in the quarter ended June, but outperformed analysts' estimates, as sales volumes were hit by the nationwide rollout of a Goods and Services Tax.

Overall steel sales volumes stood at 3.51 million tonnes during the quarter with some accumulation of inventory, the company said.


Arvind Panagariya resigns from NITI Aayog, returning to New York

NEW DELHI  - An economist picked by Prime Minister Narendra Modi as vice-chairman of the government's main policy think-tank, Arvind Panagariya, is standing down after 2-1/2 years in the job and returning to New York in September.

Panagariya, 64, was quoted by finance newswire Newsrise as saying on Tuesday he is returning to Columbia University.


Hyundai Motor India`s July domestic sales up 4.4%

 Automobile major Hyundai Motor India on Tuesday reported a 4.4 per cent rise in domestic sales for July.

According to the company, its domestic sales in the month increased to 43,007 units from 41,201 units in July 2016.

Further, the company reported a month-on-month sales growth of 14.5 per cent due to healthy demand for its automobile models like Grand i10, Elite i20

Samsung Pay to support SBI debit cards

The State Bank of India (SBI) and Samsung India on Tuesday announced the availability of payment platform Samsung Pay for higher variants of SBI debit Card.

This will allow SBI debit card holders to make payments using Samsung smartphones at Point of Sale (PoS) card machines at merchant outlets.

"Both Samsung and SBI are household names in India and it is a mo

India refiners outshine Asia peers with new output, rising local demand

SINGAPORE/NEW DELHI - Indian refiners are outperforming their competitors in South Korea and Thailand as they have ramped up output from new fuel and chemical capacities to meet rising domestic demand that could further lift their earnings over the next two years.

Asia is adding net refining capacity of 360,000 barrels per day (bpd) this year, according to Wood Macken

Airtel Payments Bank, HPCL tieup for digital payments

Aiming to further boost digital payments in the country, Airtel Payments Bank on Tuesday announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL).

All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank, an official statement said.

"All Airtel Payments Bank customers would be able to access a range of convenient ban

Opposition demands roll-back of LPG price hike

Opposition parties on Tuesday demanded a roll-back of the central government's decision to increase the price of subsidised cooking gas by Rs 4 per cylinder every month.

Raising the issue during Zero Hour, Congress member K.C. Venugopal said the government is working on speedy elimination of subsidy on cooking gas which will affect the common people of the country.

Trent Quarterly Result net zooms 64% at Rs 38.15 cr

Trent, the retail arm of the Tata group, on Monday reported a substantial 63.73 per cent year-on-year growth in standalone net profit at Rs 38.15 crore for the first quarter ended June 30, 2017. “The company had registered standalone net profit of Rs 23.30 crore in the April-June quarter of the previous fiscal, Trent said in a filing to the Bombay Stock Exchange.

The standalone

Repco Home Fin to raise Rs 180 cr on private placement basis

Repco Home Finance (RHF) said that it is planning to raise Rs 180 crore by issuing secured, redeemable, non-convertible debentures (SRNCD) on private placement basis. “The Board of Directors of the Company on August 04, 2017, the Board, inter alia, will consider an issue of Secured, Redeemable, Non-Convertible, Non-Cumulative Debentures (SRNCD) to eligible investors on private placement b

Zydus Cadila gets USFDA nod for two drugs

Zydus Cadila said that it has received the final approval from the United States Food & Drug Administration (USFDA) to market Temozolomide Capsules in strengths of 5 mg, 20 mg, 100 mg, 140 mg, 180 mg, and 250 mg. Temozolomide capsules is a chemotherapy drug used in the management of brain tumors, the company said in a filing to the Bombay Stock Exchange.

The group also received th

Ashok Leyland sales grow 14% in July

Ashok Leyland, the second largest commercial vehicle maker in India, has reported 14 per cent increase in total sales at 11,981 units in July on Tuesday. "Total sales in July grew by 14 percent to 11,981 units compared with 10,492 units sold in same month last year," the company said in a filing to the Bombay Stock Exchange.

Light commercial vehicle sales increased 28 per ce

SoftBank in talks to invest in Flipkart through fund, sources say

By Sankalp Phartiyal and Nivedita Bhattacharjee

MUMBAI/BENGALURU - Japan's SoftBank is still keen to take a stake in Indian e-commerce firm Flipkart and is in talks to invest up to $2 billion in the company through its Vision Fund, a source familiar with the matter said on Tuesday.

Softbank had hoped to secure a sizeable stake in Flipkart by engineering

Maruti Suzuki`s July sales up over 20%

Automobile major Maruti Suzuki India on Tuesday reported a rise of 20.6 per cent in its monthly sales for July 2017.

According to the company, its total sales during the month rose to 165,346 units from 137,116 units sold during the corresponding month of 2016.

Maruti's domestic sales edged higher by 22.4 per cent to 154,001 units from 125,778 units.

Vascon Engineers receives LOA from Transcon Sheth

Leading engineering firm, Vascon Engineers Ltd has said that it has received Letter of award from Transcon Sheth Creators Private Limited, a domestic Entity for the work of civil construction, finishing, electrical and firefighting work of Residential Building no 3 and 4 (Ground plus 23 Floors) in Malad (W) amounting to Rs. 80.41 crores.

“The work has to be completed within 24 m

Cyient bags `Leaders in Corporate Innovation`award at IACE

Cyient, a global provider of engineering, manufacturing and operations management services has said that it has been conferred with the 'Leaders in Corporate Innovation' award at the 13th Indo-American Corporate Excellence (IACE) Awards ceremony conducted by the Indo-American Chamber of Commerce (IACC) in Mumbai.

“The 'Leaders in Corporate Innovation' award recog

RBI reallocates deputy governor portfolios after Mundra retirement

MUMBAI - The Reserve Bank of India re-allocated the portfolios handled by deputy governor S.S. Mundra after his retirement on Monday, assigning banking supervision to N.S. Vishwanathan, who already oversees regulation for lenders.

Vishwanathan will also be in charge of the department of non-banking, covering areas outside of core lending. The rejigged portfolios could

TCS acknowledged at Manufacturing Leadership 100 Awards

Tata Consultancy Services, a leading global IT services, consulting and business solutions organization has said that it has been recognized as a prominent ‘Technology Partner’ at the prestigious 2017 Manufacturing Leadership 100 Awards for the fourth time in the past five years.

“TCS was praised for its key role as IT Services partner for customers, Boeing, Flowserv

Sensex ends at record close; Eicher Motors leads

Indian shares on Tuesday closed at their highest ever level for a second session in a row as automakers such as Eicher Motors Ltd advanced on upbeat monthly sales a day before a key central bank policy meeting.

The broader NSE Nifty ended up 0.37 percent at 10,114.65, while the benchmark BSE Sensex closed 0.19 percent higher at 32,575.17.

The gains come a day before the Rese

Tata Motors reduced pay of key executives in last fiscal

Automobile major Tata Motors' whole-time directors and key managerial personnels saw a downward revision in their remuneration during last fiscal, the company's annual report said.

According to the Annunal Report for 2016-17, remuneration of its Executive Director Ravi Pisharody, who has recently quit the company had decreased by 17 per cent to Rs 2.3 crore in 2016-17.

Toyota Kirloskar Motor`s July domestic sales up 43%

Toyota Kirloskar Motor on Monday reported a rise of 43 per cent in its domestic sales for July.

According to the company, it sold a total of 17,750 units in the domestic market in July.

"We are thankful to the government for the biggest indirect tax reform of the nation, which has helped us maintain the double digit growth this month," said N. Raja, Direc

Tea production down by 2.81% in June, Darjeeling tea dips 89.47%

 The estimated tea production in India for June has decreased by 2.81 per cent to 143.02 million kg as compared to 147.15 million kg in the corresponding month last year, according to data provided by Tea Board India.

Darjeeling tea production was the worst hit in June due to ongoing indefinite strike as crop production fell by 89.47 per cent to 0.14 million kg as compared t

Snapdeal not selling out to Flipkart

Leading e-tailer Snapdeal on Monday said it was terminating strategic discussions to sell its stake, ostensibly to rival Flipkart, as it had decided to pursue an independent path.

"As we have been exploring strategic options over the months, we have decided to pursue an independent path and terminate all strategic discussions, said a Snapdeal spokesperson in a statement, wit

IndiGo parent reports record profit despite Airbus delays

NEW DELHI  - InterGlobe Aviation, owner of India's IndiGo airlines, reported a record quarterly profit on Monday powered by growth in passenger revenue but warned that delays in deliveries of Airbus's new A320neo aircraft were affecting margins.

IndiGo is among several carriers facing delays in receiving planes from Airbus due to problems with new engines