New Delhi: Japanese carmaker Suzuki Motor Corp. plans to expand production capacity by as many as 2.5 million cars a year in the decade to 2030 as it lays the groundwork to maintain its dominance in India, where it sells one in two cars.

The capacity expansion, the biggest ever planned by Suzuki or its local unit in India, will be divided into two phases, two people aware of the plans said, requesting anonymity. Suzuki will first expand its Gujarat plant by adding capacity to make 750,000 cars starting 2020.

Rs 199 Jio offer impact: After billionaire Mukesh Ambani-run telecom player Reliance Jio launched a new postpaid plan at Rs 199, global brokerage firm CLSA has cut its revenue estimates for Bharti Airtel and Idea-Vodafone. According to the firm, there is risk of Jio’s latest post paid plan on the incumbents. Earlier this month, Reliance launched a new postpaid plan at Rs 199 offering 25GB of data and unlimited voice and SMS.

Diversified consumer goods maker Hindustan Unilever (HUL) on Thursday briefly became the country’s fourth-largest company in terms of market capitalisation (m-cap), edging past cigarettes-to-soaps major ITC for the first time in 13 years. Since 2005, ITC’s market capitalisation had always been higher than that of HUL.

In a move that may lead to a considerable decline in Mumbai Metro project cost, the state government has asked for a rebate from the contractors handling the project following a change in tax rate under the goods and services tax (GST).

Under the new indirect tax regime, the GST on construction cost has been reduced to 12% from 18% earlier.

If the Reserve Bank of India puts Punjab National Bank (PNB), along with Canara Bank and Union Bank of India, under the so-called Prompt Corrective Action (PCA), the financial sector equivalent of intensive care unit, close to 14 per cent of the total banking credit could be potentially impacted. Of these, PNB accounted for 5.49 per cent as at the end of financial year 2016-17.

Superhero mash-up "Avengers

Disney Studios announced on Thursday that the third "Avengers" film has minted 1.686 billion dollars at the box office worldwide after 20 days of release, reported Variety.

Earlier, "Avengers: Infinity War" became the fastest film to hit the $1 billion worldwide mark, needing only 11 days to do so. It reached the milestone one day earlier than "Star Wars: The Force Awakens".

With the aim of providing safe and better mobility to commuters, the National Highways Authority of India (NHAI) will soon start ranking roads periodically on various parameters, including safety management.

Projects on marquee economic corridors of Delhi-Vadodara, Agra-Mumbai and Mumbai-Kolkata will be audited first and once the success rate of the gradation exercise is established, it will be extended to other highway contracts.

Even as the National Company Law Tribunal (NCLT) has admitted the petition for insolvency, Reliance Communications (RCom) is in talks with Ericsson India for a settlement of the dispute to pay Rs 11.5 billion to the latter, said sources.

RCom in its reply to queries from the stock exchanges on the possible settlement with Ericsson said, “Appropriate disclosures will be made in accordance with applicable regulations, as and when any disclosable event occurs.”

Markets regulator Sebi today further extended the deadline till June 1 for putting in place a new system for depositories to monitor the foreign investment limits in listed Indian companies.

Securities and Exchange Board of India (Sebi) has extended the last day for the second time after taking into consideration representations from various quarters.

VTB-backed Numetal on Thursday disclosed in the National Company Law Appellate Tribunal (NCLAT) that its bid value in the second round of bidding for Essar Steel is Rs 370 billion, short of double its first offer of Rs 190 billion, and about Rs 65 billion higher than ArcelorMittal’s bid in the first round.

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