Diversified global giant Mitsubishi Corporation has became a substantial minority stakeholder in TVS Automobile Solutions Private Limited (TASL), one of India’s leading independent aftermarket solutions provider and part of the $8.5-billion TVS group.

The Japanese conglomerate, which was holding a meagre 3% stake in the TVS group company last year, has increased it to 25% by picking up an additional 22% now.

The Securities and Exchange Board of India (Sebi) has issued two fresh showcause notices to HDFC Trustee Company and its managing director and other officials initiating adjudication proceedings in relation to investments of fixed maturity plans (FMPs) in debt instruments of Essel Group companies. Earlier on May 10, 2019, the market regulator had sent two showcause notices on the same matter to HDFC AMC.

State-owned NTPC has urged the International Solar Alliance (ISA) to appoint it a consultant for 1,000 MW of rooftop solar projects the latter plans to implement across several countries. NTPC proposes to charge 6-10% of the project cost as upfront consultancy fees, depending on the capacities of the solar installations.

In a harsh reminder of the unforgiving terrain the Indian Air Force (IAF) AN-32 transport aircraft operate in, one of these IAF workhorses crashed in Arunachal Pradesh on Monday. There were 13 military personnel on board.

The aircraft was flying from Jorhat, over high, densely forested mountains, to the advanced landing ground (ALG) at Mechuka, close to the Line of Actual Control (LAC) with China. AN-32s carry supplies that sustain army troops on the LAC.

The rupee on Tuesday opened 11 paise higher at 69.15 against the US dollar amid weak global cues and fall in crude oil prices.

The domestic unit on Monday appreciated by another 44 paise to close at 69.26 in line with a strong rally in domestic equities amid hopes of a rate cut by the Reserve Bank of India (RBI). It was the second straight session of gain for the domestic currency, during which it has strengthened by 58 paise.

Social media platform Facebook is set to launch its game show 'Confetti' on Facebook Watch on June 12 in an attempt to increase engagement among users. The show was first introduced in the United Stated and then taken to other countries including United Kingdom, Canada, Thailand, Mexico, Vietnam, and Philippines.

Bajaj Auto has joined hands with Austrian sports bike maker KTM Industries to manufacture electric two-wheelers vehicles in the power range of 3 to 10 kW (48 volt). Under this partnership, Bajaj Auto and KTM will support different product variants - scooters, mopeds, small mopeds - under brands of both partners.

The production of Bajaj Auto and KTM electric two-wheelers will start at Bajaj's Pune plant by 2022.

Maruti Suzuki India ltd - country’s largest passenger vehicle manufacturer on Tuesday announced that its premium hatchback Balwani has crossed the 6 lakh units sales mark in the a record time of 44 months. The company claims that in the premium hatchback segment, Baleno is the fastest to reach this sales milestone.

Cipla reported Q4 results ahead of expectation led by gSensipar “at-risk” exclusivity launch. Ex of this, revenues were in line while margins were c100bps ahead of expectation. Management expects US business to grow in double digits in FY20 and base margins to improve though it did not quantify the level. Cipla trading at 20x FY21 PE, factors in the base business improvement. We retain Hold, noting the mixed execution over past 12m.

The new tariff regime by the Telecom Regulatory Authority of India (TRAI) saw broadcasters such as Zee Entertainment Enterprises (ZEEL), Star India, Viacom18 and Sony Pictures Network withdraw their free-to-air (FTA) channels from Doordarshan’s FreeDish platform. Hitherto, these channels enjoyed substantial viewership on the platform. But this has led to other lesser-known channels coming into the limelight.

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