State-owned Bank of Baroda (BoB) on Tuesday cut its benchmark lending rate by 10 basis points, making home, auto and other loans cheaper for its customers, though the reduction is much less than the policy rate cut by the RBI.

The BoB thus joins other banks such as Punjab National Bank, Union Bank of India, Allahabad Bank and Kotak Mahindra Bank, who have brought down their marginal cost of funds-based lending rate (MCLR) by 5-10 basis points.

L&T Infotech is likely to finalise acquiring Cafe Coffee Day founder VG Siddhartha’s 20.41% stake in Mindtree as early as this week for a price close to `975/ share, which is higher than the price offered by KKR at about `925/share, a source aware of the matter told FE. Mindtree’s shares closed Tuesday’s session 1.59% down at `916.50 on the BSE.

Coal India’s shipments rose 3% year-on-year to 51.5 MT in February 2019. Key highlights: 1) shipments of large subsidiaries — MCL and SECL — rose 2% and 4%, respectively; 2) production grew 6.5% y-o-y to 58.1 MT led by MCL and SECL; and 3) pit-head inventory estimated at 35 MT as at February end, leading to improved coal availability. Going ahead, we expect: a) Coal India (CIL) to report 4.5% y-o-y growth in shipments in FY19; and 2) e-auction premium could dip, given the inventory build-up. Maintain ‘hold’ with `243 target price. The stock is currently trading at 9.5x FY21E EPS.

India’s overall export-import (Exim) container trade increased 6% during the fourth quarter of 2018 on the back of spike in refrigerated cargo by China.

According to the Maersk India trade report for the quarter ended December 31, 2018, the imports grew 9% in the same quarter.

The 89th version of the Geneva International Motor Show is finally here. The 11-day event, which opens to the general public on Thursday, will showcase expensive luxury cars and supercars. One of the oldest motor shows in the world, it will witness this year a host of electric vehicles and electric concepts, which will set the tempo for brands in the future.

Infrastructure giant Larsen & Toubro (L&T) Tuesday said the water and effluent treatment business of its construction arm has bagged “major” projects in Tamil Nadu, Jharkhand and Odisha. The engineering and construction company, however, did not provide the exact value of the contract; but as per its project classification, the value of the contracts was in “major” category which is in the range of Rs 5,000 to Rs 7,000 crore.

Paytm Travel, the digital arm of payment and wallet company Paytm for booking online travel tickets is looking at regional language users in tier-II and tier-III cities to drive growth ahead. The travel business has 13 million customers, up from 9 million last year, said Paytm’s Vice President and head of Paytm Travel Abhishek Ranjan told Financial Express Online.

Tata Motors did not produce any unit of Nano for the second month in a row in February as a question mark remained over future of the entry-level small car.

The company has so far maintained that no decision has been made yet on the future of Nano, although in its current form it will not meet the new safety and emission norms and may need an infusion of fresh investments.

Volvo and a Singapore university unveiled a driverless electric bus Tuesday that will soon undergo tests in the city-state, the latest move towards rolling out autonomous vehicles for public transport.

High-tech Singapore has become a testbed for self-driving technology and the world's first driverless taxis went into operation in a limited public trial in the country in 2016.

State-owned Bank of Baroda (BoB) Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper.

The bank has reduced the lending rate by 10 basis points across all tenors up to one year.

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