In its biggest divestment so far, engineering conglomerate Larsen & Toubro (L&T) on Tuesday said it would sell its electrical and automation business (E&A) to France-headquartered Schneider Electric for a cash consideration of Rs 140 billion. The divestment plan, which was first discussed in the summer of 2015, took three years to mature, it is learnt.

Kotak Mahindra Bank on Friday reported 27 per cent rise in its fourth quarter consolidated net profit for 2017-18 on healthy growth in advances and higher base of low cost deposits.

Profit after tax on a consolidated level rose to Rs 17.89 billion for the quarter ended March 2018, from Rs 14.04 billion in the year ago period.

West Bengal Chief Minister and Trinamool Congress supremo Mamata Banerjee is likely to meet Prime Minister Narendra Modi on Wednesday. The crucial meeting is set to take place even as TMC and BJP are at loggerheads ahead of West Bengal Panchayat Elections. CM Banerjee is scheduled to travel to New Delhi on May Day. She will attend a meeting of the government committee formed to coordinate year-long celebrations of Mahatma Gandhi’s 150th birth anniversary. Prime Minister Narendra Modi heads the panel.

Wolfgang Prock Schauer, who quit GoAir as its chief executive officer following differences with its promoters, has been accused of data theft.

Prock Schauer joined rival IndiGo as its chief operating officer in January-end and GoAir sues him in the Bombay High Court within weeks of his appointment.

Police have arrested four youths on the charge of stripping and abusing a girl in Jehanabad district and sharing the video of the incident on social media.

The police also seized the bike used by the culprits, all said to be in the age group of 16-18.

In an unprecedented development, Mamata Banerjee’s Trinamool Congress has bagged 34% seats in yet-to-be conducted Panchayat Polls.

There will be no polling in 20,076 seats of the total 58,692 seats in the forthcoming three-tier Panchayat polls in West Bengal because the ruling Trinamool Congress has won at about one-third seats uncontested.

Shares of Interglobe Aviation rebounded, gaining 1% on Monday after falling over 6% on Friday after IndiGo announced today that Aditya Ghosh will step down as President and is likely to be replaced by one of its former executives Gregory Taylor.

It said Rahul Bhatia, a promoter of the company, has been appointed as the interim CEO.

In a span of a few years, mobile app-based cab companies have drastically changed the face of public transport in bigger Indian cities. Ever since the homegrown Ola and the international darling Uber made their entry in Indian markets, they been engaged in an almost neck-to-neck battle.

Understandably, recent rumours of a possible Ola-Uber merger in India have raised many eyebrows. While it is unclear if the deal will actually go through, Japanese conglomerate SoftBank, which is a common stakeholder in both ANI Technologies (Ola’s parent company) and Uber, is said to be brokering a deal in order to consolidate its investments.

Reliance Indutries (RIL) fell over 2% after the company’s consolidated finance cost jump to Rs 25.66 billion as against Rs 5.56 billion in the last quarter of 2016-17, and Rs 21 billion in the December 2017 quarter.

The company reported a consolidated net profit of Rs 94.35 billion for the quarter ending March 31 (Q4) on the back of improved performance of its petrochemical and retail businesses.

Five people were killed in a suicide blast in Afghanistan’s capital city Kabul on Monday morning.

According to local media reports, there were two blasts at the same location. There are several journalists among the injured, TOLO News said on Twitter.

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