Tata Motors on Monday became the second company after Mahindra and Mahindra (M&M) to create an electric vehicle vertical which would tap into the full potential of this emerging technology. The company also appointed Shailesh Chandra the head of this vertical. Earlier, the electric vehicle initiative of Tata Motors was being run through a project office.

The rupee was trading lower by 5 paise at 67.16 against the US dollar in early trade today amid caution ahead of RBI’s policy decision tomorrow. Forex dealers said increased demand for the US currency from importers as also the greenback’s gains against rivals overseas put pressure on the rupee.

The analyst meet made us appreciate prospects (1) of CIL outperforming in the key powergen market over the medium term and (2) outsourcing of select engines for India demand boosting bottom-line. Mandates for new export products from parent to CIL are a function of relative scale of Indian demand for such products.

Paving the way for the approval of Idea Cellular and Vodafone India merger, the department of telecommunications (DoT) has cleared the former's proposal to increase foreign direct investment (FDI) limit to 100 per cent in the merged entity.

Idea currently has FDI limit of 67.5 per cent.

Markets regulator Sebi has drastically slashed the 'additional expense' charged by mutual funds to just 5 basis points to help increase the penetration of such products among investors.

The move will help reduce the cost of investing in MFs and industry players believe that it may result in lower commissions for distributors.

Continuing with efforts to clean up its balance sheet, the country’s largest lender, State Bank of India, has put on sale non-performing assets (NPAs) worth over Rs 13 billion. Banks intend to sale these bad loans, covering sectors such as steel and textile on a 100 per cent basis.

There are 12 corporate accounts from branches in Chandigarh, Kolkata and Hyderabad.

Maruti Suzuki‘s big milestone: India’s largest automaker by market capitalisation Maruti Suzuki has achieved yet another feat with manufacturing 2 crore cars in less than 35 years. The stock of Maruti Suzuki is the costliest scrips among all the listed companies (excluding auto ancillary companies) on Indian bourses — NSE and BSE.

Tata Motors has created an electric vehicles vertical and appointed current head of business strategy, Shailesh Chandra, as its president with immediate effect, the automobile firm said in a statement on Monday.

Chandra has played an “instrumental role in leading the project teams” to deliver the electric variant of the compact sedan Tigor to EESL (Energy Efficiency Services Ltd)—the state-owned firm that will procure and lease electric vehicles to the central and state governments.

Microsoft Corp. has agreed to acquire GitHub Inc., the code repository company popular with many software developers, and could announce the deal as soon as Monday, according to people familiar with the matter. GitHub preferred selling the company to going public and chose Microsoft partially because it was impressed by Chief Executive Officer Satya Nadella, said one of the people, who asked not to be identified discussing private information.

Shares of HDFC Bank have slipped by 2.5% at Rs 2,058 per share, falling 4.6% from their early morning high on the National Stock Exchange (NSE), after more than 10-million equity shares changed hands on the counter through multiple block deals.

Till 10:17 am; around 13.41 million equity shares representing 0.63% of total equity of HDFC Bank have changed hands on the NSE, the exchange data shows.

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