JLR retails for May’18 increased 6% YoY to 41.6k. Jaguar retails increased 7% YoY to 14.5k units while Land Rover (LR) volumes increased 6% YoY to 33.8k units. The growth for JLR (Ex-China geography) stood strong at 11% YoY which has been highest growth in last 14 months.

Cash-crunched Air India, which delayed salaries for three months in a row, has sought an additional funding of around Rs 2,000 crore from the government to tide over the situation, a senior company official said.

The airline is expecting these funds next month when the government moves the first batch of Supplementary Demands for Grants for 2018-19 in the Monsoon session of Parliament, the official said.

For the first time, the government has broken its silence on the governance issues at ICICI Bank. Interim finance minister Piyush Goyal said in press conference, "ICICI Bank has robust and systems and processes. Investigations and its finding will be out soon. As far as the law is concerned, the law of the land will take its own course."

Reliance Industries has sought shareholders' nod to give Mukesh Ambani another five years as the chairman and managing director of the company.

Ambani, 61, has been on the board of Reliance Industries Ltd (RIL) since 1977 and was elevated as Chairman of the company after the death of his father and group patriarch Dhirubhai Ambani in July 2002.

British telecom major Vodafone plans to invest €1 billion or about Rs 80 billion in the proposed joint venture with Idea Cellular, which is expected to be in place this month, according to its annual report.

The British telecom operator will look at monetising its stake in Indus Towers if it requires to make additional investment in India, in case the Aditya Birla group decides to put in additional fund in the proposed merged entity, Vodafone Idea Limited.

New Delhi: Tata Motors Ltd on Friday reported 24% rise in global sales, including that of Jaguar Land Rover, to 107,343 units in May. It had sold 86,385 units in May last year.

Global wholesale units of all Tata Motors’ commercial vehicles and Tata Daewoo range in May 2018 stood at 40,989 units, up 45% from 28,310 units a year ago, the company said in a statement.

Mumbai: Indians increase purchases of refrigerators and TV sets around election time as the government puts more money in the hands of voters, which stands to benefit some of the world’s most profitable consumer finance companies.

Prime Minister Narendra Modi is following his predecessor in boosting spending before polls due early 2019, a practice that has sparked surges in stocks of consumer finance firms.

Mumbai: Reliance Industries chairman and managing director Mukesh D Ambani expects digital services and organised retail to contribute "meaningfully" to the private sector's consolidated profits even as both these consumer segments will be on a par with its energy and materials business over the next decade.

MUMBAI: Mahindra & Mahindra, the world’s largest tractor maker by volume that exited a Chinese joint venture last year, is planning to return to the $25-billion agriculture equipment market in that country.

This time, the company will be venturing on its own to the market, and focusing on the much larger farm machinery space and not just on tractors. In 2017, it had sold a 51% stake in China’s Yueda Yancheng Tractor for Rs 80 crore.

MUMBAI: Reliance Jio Infocomm reiterated its backing for the regulator’s decision to slash the interconnection usage charge (IUC), saying it removes an “artificial tariff hurdle” and will lead to quicker adoption of advanced technologies like Voice over LTE (VoLTE).

The IUC cut “…not only removes the artificial tariff hurdle with floor price but also allows faster adoption of more efficient technologies like VoLTE, as erstwhile legacy networks are nearing obsolescence,” the Mukesh Ambani-owned telecom company in its annual report.

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