GMR Group is setting up a business park in Hyderabad to be developed by GMR Hyderabad Aerotropolis, a subsidiary of GMR Hyderabad International Airport. The area covered by the business park is one million square foot where six business complexes would be developed. The project will be financed through debt and internal accruals of Rs 350 crore. It will be developed in two phases. The first phase comprises four towers, of which one is ready for occupancy.

Hyundai Motor India on Tuesday launched a sub-4 metre sports utility vehicle, Venue, which will be in direct competition with Maruti Suzuki’s Vitara Brezza, Mahindra’s XUV300 and Tata Nexon. Dubbed India’s first connected car, the Venue falls in a segment where the industry’s monthly sales are around 35,000 units.

While the average monthly sales of Maruti’s Vitara Brezza is around 14,000 units, Hyundai’s Creta, which is slightly higher priced, sells nearly 10,000.

Larsen & Toubro’s standalone market capitalisation will touch Rs 3 lakh crore and its revenue will reach Rs 2 lakh crore in five years as strategic initiatives like L&T NxT have helped in making giant strides, group chairman A M Naik said. The recently launched L&T-NxT initiative is a technology platform that focuses on artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions as well as cybersecurity.

Hearing a bunch of petitions against the March 8 order of the National Company Law Tribunal (NCLT) approving ArcelorMittal’s Rs 42,000-crore resolution plan for the debt-ridden Essar Steel, the National Company Law Appellate Tribunal (NCLAT) on Tuesday reserved its order. The two-member bench, headed by Chairman Justice SJ Mukhopadhaya, has heard all parties, including the erstwhile promoters of Essar Steel and a host of operational creditors over the period.

The wireless subscriber base in the country declined by 1.85% in March — after nearly a year of sustained growth — primarily because of Bharti Airtel and Vodafone Idea, which together lost over 29 million customers during the month as a result of implementation of minimum recharge plans. The wireless subscriber base declined to 1,161.81 million at the end of March from 1,183.68 million at the end of February. The wireless subscriber base had last declined in April last year when there was a net deduction of 58.34 million subscribers from the telecom industry.

In a pre-dawn launch on Wednesday, Indian space agency ISRO scripted history by successfully launching earth observation satellite RISAT-2B that would enhance the country's surveillance capabilities among others. As the 25-hour countdown which began Tuesday concluded, the agency's trusted workhorse Polar Satellite Launch Vehicle (PSLV-C46) blasted off at 5.30 am from the first launch pad of the Satish Dhawan Space Centre here on its 48th mission, carrying the 615 kg satellite.

The Committee of Administrators (CoA) on Tuesday said that the much-awaited elections of the BCCI will be held on October 22.

The CoA, which was appointed by the Supreme Court in January 2017 to oversee the sweeping reforms recommended by the Lodha panel, announced the elections date here after due consultation with the apex court-appointed amicus curiae PS Narsimha.

South Korean auto major Hyundai on Tuesday forayed into high selling compact SUV segment in India with the launch of new model ‘Venue’, priced in the range of ₹6.5-11.1 lakh (ex-showroom Delhi).

Venue comes with three engine options — 1 litre turbo and 1.2 litre petrol powertrains besides 1.4 litre diesel engine — and sits below the Creta in terms of price and positioning.

Vodafone has announced a new prepaid recharge pack in partnership with Citibank. Applicable for only Vodafone users in India, the recharge pack will be available on applying for a fresh Citibank credit card via the Vodafone website. Under the recharge pack, the users get 1.5GB data per day and unlimited calls for a validity of one year.

E-commerce giant Amazon was on its way to running its own online neighbourhood Monday after the internet’s address keeper granted the “.amazon” domain to the company. After waiting in vain for years for the US online retail colossus and an alliance of South American countries to resolve their battle over the right to web addresses ending with “.amazon,” the Internet Corporation for Assigned Names and Numbers (ICANN) this month sided with the Seattle-based company.

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