On Air India's disinvestment, Prime Minister Narendra Modi has said his government doesn’t want to be accused of selling something cheaply.

In an interview to Swarajya magazine, Modi said he disagreed with the perception that his government had been half-hearted at divesting from public sector entities. He said it had undertaken “significant disinvestment”.

The Securities and Exchange Board of India (Sebi) has issued a directive to ICICI Prudential Mutual Fund (MF) for allegedly violating the MF code of conduct by making a large investment in the initial public offering (IPO) of its group firm ICICI Securities. The investment allowed the IPO to meet a minimum subscription requirement, without which it would have failed.

State-owned Bharat Sanchar Nigam Ltd (BSNL) has asked the telecom regulator TRAI to allow it to issue e-bills or soft copy of phone bills to its customers as a default option, unless a subscriber specifically “opts out” of the mode and insists on a printed version. The telecom regulator is likely to come out with a discussion paper in a month or two, seeking public view on the issue of generation of soft bills by default, a Telecom Regulatory Authority of India (TRAI) official familiar with development told PTI.

The BSE Sensex fell 159 points to end at 35,264.41 today on profit booking in recent gainers led by metal, power and infrastructure stocks amid weak global cues.

The NSE Nifty also slumped below the 10,700-mark, weighed down by Bharti Airtel, NTPC, HUL, Adani Ports, RIL, ONGC, Adani Ports and HDFC Bank.

ITC Limited on Monday said it planned to add 2,500 rooms to its hotel segment to take the total inventory to 12,000 in five years from 9,500 now, even as the diversified group mulls foraying into the healthcare space.

Sanjiv Puri, ITC Managing Director, said the company would invest Rs 25 billion in the next two to three years in Telangana, among others,to set up an integrated consumer goods manufacturing unit and logistics facility and for the capacity augmentation and efficiency of Bhadrachalam Paperboard.

Bajaj Auto on Monday reported a 65 per cent jump in total sales to 4,04,429 units for June.

The company had sold 2,44,878 units in the same month a year ago.

Its motorcycle sales also increased by 65 per cent to 3,37,752 units as against 2,04,667 in June last year, Bajaj Auto said in a BSE filing.

Home-grown auto major Mahindra and Mahindra (M&M) on Monday reported 22 per cent rise in total tractor sales to 40,529 units in June.

It had sold 33,093 units in June last year.

State-owned Coal India on Sunday said it produced 44.88 million tonnes (MT) of the dry fuel in June, missing the target by 7.9 MT.

The production target for the PSU for the month of June was 52.79 MT, Coal India Ltd (CIL) said in a filing to BSE.

Keeping its vigil on service quality in the sector, Trai has imposed penalties on leading operators, including Reliance Jio, Bharti Airtel, Vodafone and Idea Cellular, for failing to meet various Quality of Service benchmarks in the December quarter, according to a source.

Around Rs 31 lakh fine has been imposed on Reliance Jio, the newest entrant in the telecom sector whose aggressive offerings have led to a bruising tariff war in the market.

Mumbai: Cash-strapped national carrier Air India has doubled the gratuity ceiling amount of its employees from Rs 10 lakhs to Rs 20 lakhs.

An Air India letter dated on June 26, said, "It has been decided to implement the enhancement of gratuity payable to employees under Payment of Gratuity Amendment Act 2018,

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