Larsen & Toubro (L&T), an engineering major perceived as a proxy to core sector economic activity, is seeing its services portfolio getting strengthened. A closer look at the company’s financial performance in the June quarter reveals it is coming out of its traditional image.

Contribution from the services sector to L&T’s order inflow in April-June 2018 was an impressive 21.8 per cent, second to infrastructure that continued to be high at 42.9 per cent.

New Delhi: The proposed sale of iconic Air India tower in Mumbai could turn out to be a damp squib as the prospective buyer JNPT’s projection of earnings from the property is much lower than the airline's expectation.

The initial estimate by Jawaharlal Nehru Port Trust (JNPT), the government-owned entity that is being prodded to acquire the building on Queen's necklace in the financial capital

WhatsApp has started working on building its payments service for other countries even as it waits for the "green light" from Indian authorities for offering the feature to its user base here.

Facebook-owned WhatsApp has been testing its payments services in India for a few months now with about one million users and is waiting for clearance from the government for a full-fledged rollout across the country.

Mumbai: India’s motorcycle market is set to witness a new round of competitive intensity as Bajaj Auto Ltd prepares to grow its share in the market for entry-level and premium motorcycles, according to analysts. Bajaj’s push for market share growth is already consuming its profit margins but the Pune-based company is undaunted and has set greater ambitions with aggressive product pricing, the analysts told Mint.

New Delhi: Hyundai Motor India Ltd, the second largest carmaker in India, may introduce a micro sports utility vehicle (SUV) to consolidate its position and increase market share, a top company official has said. Hyundai, which makes three SUVs—Creta, SantaFe and Tucson—is planning to add more products, specifically under the sub four-metre category. “We have a small SUV Creta; may be later, we may have a micro SUV also.

Mumbai: Essar Oil and Gas Exploration and Production Ltd is planning to sell as much as 30% in its flagship coal-bed methane (CBM) block in Raniganj, West Bengal, said two people familiar with the development. Essar Oil, which completed the $12.9 billion sale of its refining and distribution business to a consortium led by Russia’s Rosneft PJSC last August, operates the coal-based methane business and a refinery in the UK.

While the headline numbers suggest earnings season has got off to a good start the headline numbers mask the favourable base effect, the many one-offs and several accounting changes. Nonetheless, corporate India has done reasonably well in the three months to June rebounding smartly — as the increased volumes show — from the weak Q1FY18 which was the pre-GST quarter.

While anecdotal and empirical evidence both confirm online shopping is becoming more popular, e-commerce businesses continue to bleed because consumers need to be pampered with discounts, report Anushree Bhattacharyya in New Delhi. The many rounds of sales that e-retailers launch during the year are a sign it is not easy to convince consumers to buy.

The benchmark BSE Sensex on Monday opened at an all-time high of 37,491 points while Nifty20 traded above the 11,300 mark. At 9.40 AM, Sensex was at 37,413.15 points, up by 76.30 or 0.20 per cent and Nifty was at 11,302.10 points, up by 23.75 or 0.21 per cent.

In a bid to increase the services it provides via its virtual assistant, Alexa, in tune with the demands of Indian customers, e-commerce Amazon has led an $11-million investment round in Shuttl, a Gurugram-based urban mobility start-up backed by Sequoia Capital, Lightspeed Ventures and others.

The round was led by Amazon, in connection with the Amazon Alexa Fund and Dentsu Ventures, along with existing investors.

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