New auto launches to light up January; 3 electric vehicles, 4 all new models lined up

These new launches come after a disastrous 12 months where almost each month saw negative growth

Shriram Transport to continue to tap overseas markets for funding: SP

Shriram Transport Finance Co (STFC) has upsized the programme to USD 3 billion from USD 2 billion, the rating agency said in a statement.

Satin Creditcare gets $15-mn ECB funding from Development Bank of Austria

The investment will support Satin Creditcare Network (SCNL) in its planned expansion, portfolio growth and its efforts in increasing financial inclusion through its operations in 22 states, the micro-finance company said in a statement.

Swiggy to demand higher commissions from restaurants, Zomato may follow: Reports

The Bengaluru-based startup increased commission to 18-23 percent of order value from the earlier 12-18 percent fee

Future Group#39;s #39;Sabse Saste Din#39; sale to be live on Amazon too

This would be the first time when Amazon would host Future Group#39;s sale. Earlier last year, Amazon had announced acquiring 49 percent stake in Future Coupons, which owns 7.3 percent shares of Future Retail, with an option to buy the entire holding at a later stage.

Commercial papers worth over Rs 1.1 lakh crore get listed on BSE since November

A CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.

AGR woes: Telecom dept slaps Rs 15,019 cr demand notice on GNVFC

The company said it is seeking expert legal advice in the matter to decide the future course of action.

Airtel Xstream broadband plans: Here#39;s all you need to know

The latest offer is available for all Airtel broadband recharge plans other than the Rs 3,999 plan.

IHCL to manage Fateh Prakash Palace in Udaipur

Fateh Prakash Palace was built during the reign of Maharana Fateh Singh Mewar in the 19th century as an exclusive venue for royal functions and has 65 heritage rooms and suites, IHCL said in a statement.

Ashok Leyland December sales down 28% at 11,168 units

Total sales in the domestic market were down 29 percent at 10,378 units as compared to 14,718 units in December 2018, the company said.

Shriram Transport Finance to raise up to Rs 1,000cr via bonds

"The funds raised will be used for onward lending, financing and for repayment/ prepayment of interest and principal of existing borrowings of the company and for general corporate purposes," the release said.

Bajaj Auto total sales down 3% in December

Total domestic sales were down 15 percent at 1,53,163 units as compared to 1,80,351 units in the year-ago month, it added.

Investments in new projects jump 37% to Rs 4.26 lk cr in Dec qtr

New projects worth Rs 1.36 lakh crore were completed during the December quarter,

Tata Sons move SC challenging NCLAT decision restoring Cyrus Mistry as executive chairman

The Tata Group sought stay of the verdict by which the National Company Law Appellate Tribunal (NCLAT) ruled as "illegal" the appointment of N Chandrasekaran as head of the holding company of over USD 110 billion salt-to-software conglomerate.

Non-anchor PSBs approach govt for post-merger branding: Report

United Bank of India, which is to be merged with Punjab National Bank and Oriental Bank of Commerce has already written to the Government

PSB merger: Benefits of medical insurance policies at risk

In August 2019, the government had announced consolidation of 10 public sector banks (PSBs) into four.

Focus on #39;cost of business#39; to make industries more competitive: Tata Steel MD CEO

"As the government has focused on ease of doing business, it should also focus on #39;cost of business#39; to make industries, particularly the manufacturing sector, more competitive in the prevailing market," Narendran told reporters on Wednesday.

JSPL reports strong Q3 steel production, sales data

The company#39;s crude steel output had stood at 1.32 million tonnes in the corresponding period last year, JSPL said in a statement.

Tata-Mistry case | NCLAT adjourns RoC plea till January 3

The counsel appearing for Tata Sons informed the appellate tribunal that the company has moved the Supreme Court against its order passed on December 18

Bharat Bond ETF lists at Rs 1,000 on NSE

Bond ETF saw 55,000 investors participating in the NFO which was open from Dec 12-20.

Factory activity touches 7-month high in Dec but business optimism weakens

The Finance Ministry#39;s Department of Investments and Public Asset Management (DIPAM) official said that the process “throws surprises”, causing delays.

BPCL, Air India, CONCOR divestment unlikely in FY20: Source

“The roadshows have happened. The next stage is getting the financials in place," the official added

India#39;s December factory activity picks up to seven-month high but business optimism weakens

The Finance Ministry#39;s Department of Investments and Public Asset Management (DIPAM) official said that the process “throws surprises”, causing delays.

Future Retail’s Sabse Saste Din may debut on Amazon this year: Report

The e-commerce platform is likely to tap the group#39;s strong physical store network for its Amazon Now project

In finance, only the fittest will survive: Uday Kotak

In a New Year message to employees, Kotak urged everyone to be on the toes in the current environment where Charles Darwin#39;s #39;Survival of the Fittest#39; is most applicable and also gave examples of sectors like telecom, airlines, real estate and finance, where there have been troubles.

IndiGo fleet size crosses 250 planes

IndiGo, which has a domestic market share of more than 47 percent, is also the first Indian carrier to have over 250 planes.

Nissan Motor India domestic sales rise 49% to 2,169 units in December

Commenting on the performance, Nissan Motor India Managing Director Rakesh Srivastava, "Domestic volume increase of 49 percent month-on-month with improved performance of KICKS showcases the strength of Nissan#39;s global SUV DNA."

ISRO, Xiaomi in advanced talks over NaVIC chipsets

The NavIC-friendly chipset, being manufactured by the US chip manufacturer Qualcom, is designed to provide accurate position information service to users in India as well as the region extending up to 1500 km from its boundary, which is its primary service area, the ISRO has stated earlier.

Coal India production up by 7% in December 2019

Coal India aimed at producing 660 million tonne in 2019-20 and missed the target of 457.23 million tonne till December.

Rupee kick starts New Year on positive note, settles 14 paise higher at 71.22 against US dollar

Traders said the rupee gained support amid positive developments on the US-China trade deal front.

NTPC to procure 6 million tonnes agro residue-based pellets worth Rs 4,200 cr in 2020

The purpose behind usage of agro-based pellets is twofold — one it turns off stubble burning in farms and brings down pollution and two, it reduces coal usage in power production.

Infra projects#39; cost overrun crosses Rs 4-lakh crore mark

The average time overrun in these 563 delayed projects is 38.74 months.

Record high discounts fail to cheer up car-buyers in December

December marked yet another month of poor volumes for the car industry

GST revenue mop-up rises to Rs 1.03 lakh cr in December

The GST collection in November 2019 stood at Rs 1,03,492 crore.

SBI new rules 2020: Customers to experience these changes starting Jan 1

Upgrading to EMV chip debit cards, one-time password (OTP)- based ATM transactions and lower external benchmark-based rate are the services that will undergo changes.

International funds stood out in 2019; small cap funds laggards

Edelweiss Greater China Equity Off-shore Fund and Kotak World Gold Fund delivered 46.64 percent and 45.45 percent average returns, respectively.

DeMo strikes again: Jewellers get I-T recovery notice over cash deposits

In Mumbai alone, the I-T department has reportedly sent recovery orders to roughly 500 jewellers.

Adani Ports set to acquire majority stake in Krishnapatnam Port

Adani Ports has been a strong player on the West Coast and now this acquisition could provide a strong foothold to the port major on the East Coast as well.

Toyota Kirloskar Motor reports 38% decline in total sales at 7,769 units in December

Domestic sales in December 2019 stood at 6,544 units as compared to 11,836 units in the same month in 2018, down 45 percent.

A K Shukla takes charge as CMD of Hindustan Copper

A mining engineer graduate of 1985 batch from Indian School of Mines, Dhanbad, and M.Tech in Environmental Engineering, Shukla has a vast experience in the Indian mining industry.

Hyundai Motor sales down nearly 10% to 50,135 units in December

The company said its domestic sales were at 37,953 units in December 2019 as compared to 42,093 units in the same month previous year, down 9.8 percent.

VE Commercial Vehicles sales down 19% at 5,042 units in December

The company, which is a Volvo Group and Eicher Motors joint venture, said Eicher branded trucks and buses recorded a total sales 4,910 units last month as compared to 6,113 units in December 2018, a decline of 19.7 percent.

Banks allowed to utilise Vijay Mallya#39;s movable assets to clear debt

The assets, comprising financial securities like shares of the United Breweries Holdings Ltd (UBHL), were attached by the special Prevention of Money Laundering Act (PMLA) court in 2016 when it declared Mallya a proclaimed offender.

ONGC gets cracking at Panna-Mukta field; cost-saving measures reap dividends

ONGC has changed the contract for bringing oil produced from the fields lying in the Arabian Sea to land, resulting in saving of about USD 5,000 per day, sources with direct knowledge of the development said.

DIPAM to look into job reservation in state-run companies after divestment: Report

The legal stance is not yet clear in cases where the government is diluting its stake to below 51 percent, but still retains management control.

Walmart India appoints Sameer Aggarwal as Deputy CEO

"Sameer Aggarwal has been appointed Deputy Chief Executive Officer, Walmart India effective January 1, 2020," a Walmart India spokesperson said.

BSNL in talks with CBSE for sale of land parcels; eyes Rs 300cr from asset monetisation in FY20

Moreover, the Telecom Department has sounded out Ministry of Finance about BSNL#39;s plans to issue sovereign guarantee bonds, and these could be floated as early as February, once the requisite approvals come in.

MM posts 1% rise in auto sales in December

In a regulatory filing, MM, a part of the USD 20.7 billion Mahindra Group, said domestic auto sales came at 37,081 units in December as compared to 36,690 vehicles sold a year back.

Rs 700cr investment on hold by a year; FAME II failed to deliver: Hero Electric

Calling for a complete revamp of the policy, the company wants the government to include low speed two-wheelers for subsidy arguing that for mass adoption of electric vehicles (EVs) in India these cost effective vehicles are critical.

MG Motor India sells 3,021 units of Hector in December

"As a new entrant in the Indian market, the robust sales momentum of our first offering, the Hector, has been very encouraging. We are working closely with our global and local suppliers to increase the production of the Hector in 2020 to support the booking backlog," said Rakesh Sidana, director for sales, MG Motor India.