Looking forward to growing demand and upcoming festive season, leading carmaker Tata Motors aims to cross 5 lakh units production mark by October this year at the Sanand plant in Gujarat. The company has achieved 100% utilisation of the plant and running three shift to meet the demand. “The plant has so far rolled out over 4,50,000 units since inception and is among fastest expanding plants of Tata Motors.

Worried over an inordinate delay in the resolution of Essar Steel’s debt, Indian lenders are taking legal opinion on how to settle the Rs 60-billion debt of Uttam Galva Steels (UGSL). Insolvency proceedings of UGSL is pending before the National Company Law Tribunal (NCLT) in Mumbai since December last.

A day after Hindustan Unilever (HUL) announced it was acquiring ‘Adityaa Milk’ ice cream and frozen desserts business, rival Gujarat Co-operative Milk Marketing Federation (GCMMF), the maker of the Amul brand of ice creams, said it would drive more premium products in the south.

The widely heralded Jio moment of the mutual fund industry is right around the corner. Paytm is set to go live with its mutual fund distribution platform, Paytm Money, anytime this month. However, mutual fund distributors, which at the last count accounted for Rs 1.8 trillion of industry assets, are confident that there is no need for them to reshuffle their business model and reiterated the importance of timely advice for investors.

Tech titan Apple has informed telecom regulator Trai that the new version of its operating system includes a feature that would allow users to report unwanted messages and calls as spam, sources said.

The issue of reporting unsolicited telemarketing calls and messages has been a major bone of contention between the Telecom Regulatory Authority of India (Trai) and the US-based company.

Regulator Sebi on Monday barred Inventure Growth and Securities as well as its directors and other senior officials from the capital markets for four years for concealing “material information” and making false and inadequate disclosures in the IPO documents.

The regulator, which conducted a probe into the affairs of Inventure Growth and Securities Ltd (IGSL) in relation to its initial public offer (IPO)

Mumbai: The board of State Bank of India (SBI), India’s largest lender, has approved a plan to cover legal expenses of current and former staff booked by investigating agencies, but where no probe has been ordered by the bank, two people aware of the development said. The bank, these people said on condition of anonymity, also plans to purchase an insurance policy to reimburse legal costs for staff indicted for fraud while taking business decisions.

New Delhi/Bengaluru: India’s largest e-commerce firms Amazon Seller Services Pvt. Ltd and Flipkart Pvt. Ltd are lobbying the government to scrap the entire draft e-commerce policy, which recommends strict restrictions on online retail, including curbs on discounts, people familiar with the matter said.

India plans to roll out state-of-the-art 5G telecom services in the next four years, a senior official said, as the nation rushes to catch up with its Asian peers. “We are not there yet,” Telecom Secretary Aruna Sundararajan said in an interview in New Delhi, adding that complete roll-out of 5G will be done by 2022. “5G won’t be driven by supply, it’ll be driven by demand and the rest of industry needs to wake up to this.”

In what could hit Reliance Industries’ (RIL) aviation turbine fuel business, Airports Authority of India (AAI) and national oil marketing companies (OMCs) have refused to allow the private firm to become a shareholder in a proposed joint venture (JV) which seeks to set up common infrastructure to supply ATF across all major airports operated by the state-owned authority.

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