Mumbai: The government’s Make in India initiative has failed to create enough jobs as companies across sectors still prefer to import goods instead of manufacturing locally, said Larsen and Toubro Ltd chairman A.M. Naik.

“The Prime Minister’s Make In India programme, which is spoken about a lot, has to do a lot more.

The rupee appreciated by 9 paise to 71.05 against the US dollar in early trade on Monday, tracking gains in domestic equities and indication of a revival in trade talks between the US and China.

Forex traders said positive opening in domestic equity market and Donald Trump’s chief economic advisor comments that the U.S. and China are seeking to revive trade talks supported the rupee.

Domestic equity benchmark BSE Sensex rose over 200 points in early trade on Monday tracking gains in index heavyweights RIL, ICICI Bank and Infosys amid positive global cues.

The 30-share index pared some opening gains to trade 129.01 points or 0.35 % higher at 37,479.34 at 0945 hours; and the broader Nifty too rose 37.45 points or 0.34 per cent to 11,085.25 in morning trade.

Auto major Mahindra & Mahindra (M&M) is seeking a fiscal stimulus package from the government for the automobile sector, which had been battling a prolonged slowdown.

Pawan Goenka, managing director, M&M, told reporters that the company has retrenched about 1,500 temporary workers since April 1 this year.

The State Consumer Disputes Redressal Commission (SCDRC) in an order has directed Standard Chartered Bank (SCB) to compensate a consumer Rs 2 lakh for deficiency in services.

The order was passed by Usha S Thakare, presiding judicial member and Dr S K Kakade, member of SCDRC on the appeal (A/16/358) filed by Malad resident, Dr Vinod Kumar Bhalla.

State-owned Oil and Natural Gas Corp (ONGC) has prepared a blueprint for doubling its oil & gas output from its domestic and overseas fields and expanding its refining capacity threefold apart from diversification into renewables, as per its new vision document for 2040.

Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Two promoter entities of Reliance Communications (RCom) have pledged 11.5 per cent more stake in favour of Axis Trustee Services, according to regulatory filings.

Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51 per cent of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee.

Mahindra & Mahindra (M&M), along with its local partner in Sri Lanka Ideal Motors, has set up the island nation's first passenger car assembly plant.

The Indian carmaker has set up a joint venture with Ideal Motors, its dealer partner in Sri Lanka for 10 years. The 65:35 JV between Ideal Motors and M&M is christened Mahindra Ideal Lanka Private Limited, which will operate the assembly plant at Welipenna, about 60 km from Colombo.

NEW DELHI: Mutual fund houses should ensure that banks -- where a scheme has parked funds in the lender's short-term deposits -- do not invest in that particular scheme, according to Sebi.

The markets watchdog has issued a clarification regarding 'parking of funds in short-term deposits of scheduled commercial banks by mutual funds -- pending deployment'.

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