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Maruti Suzuki hikes prices by up to 1.9% due to increase in input costs

The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect. In a regulatory filing, the company noted that it has taken the decision to hike prices due to an increase in various input costs. The weighted average price rise in ex-showroom prices (New Delhi) across select models is 1.9 per cent, it added. This is MSI's third price hike this year. The auto major has already raised prices in January and April this year, with an overall hike of around 3.5 per cent.

Infosys 'almost completed' buyback programme; committee to meet on Sept 8

Infosys on Monday said it has almost completed its buyback programme and its buyback committee will meet on September 8 to consider closure of the buyback programme. Infosys board has approved an up to Rs 9,200 crore buyback plan, which commenced from June 25. The IT major had proposed to buy back shares at a maximum price of Rs 1,750 apiece. "The buyback committee of the company will, on September 8, 2021, consider proposals, including but not to limited to, the closure of the buyback, pursuant to the terms of the public announcement, in view of the fact that the company has utilised 99.99 per cent of the maximum buyback size (excluding transaction costs)," a regulatory filing said on Monday.

Balaji Telefilms' shareholders reject Ekta, Shobha Kapoor remuneration deal

Shobha Kapoor and Ekta Kapoor, managing director (MD) and joint MD of media firm Balaji Telefilms have failed to obtain requisite ’ votes on resolutions pertaining to their remuneration. According to stock exchange disclosure made by the company, the two separate special resolutions on setting their salaries for the next years got 56.77 per cent and 55.45 per cent ‘against’ vote. The resolutions required 75 per cent ‘for’ votes for to be approved.

OVL in talks to buy stake in Russia's Vostok, Arctic LNG-2 project

India's top energy companies including ONGC Videsh Ltd is discussing buying a stake in Russia's massive Vostok oil project as well as a planned liquefied gas project Arctic LNG-2, Oil Minister Hardeep Singh Puri said. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is evaluating buying a minority stake in the Vostok Oil project, which contains combined estimated resources of over 6 billion tonnes or around 44 billion barrels, of premium crude. It alongside Petronet LNG Ltd is negotiating to buy a 9.9 per cent stake from Novatek. "A number of new potential investments were discussed Vostok Oil, Artic LNG-2 (and) petrochemicals," Puri, who was in Russia to attend the Eastern Economic Forum in Vladivostok, told reporters in Moscow before departing back to New Delhi.

Fitch says BPCL privatisation may get delayed for multiple reasons

Fitch Ratings on Monday said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of India's second-largest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL). Affirming BPCL's rating at 'BBB-' with a negative outlook, Fitch said it continues to treat the potential divestment of the company by the Indian government as an event risk. "Bidders are conducting due diligence, but uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays.

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