The Tata Group, widely seen as a potential suitor for Air India, is unlikely to consider a bid for the carrier as the government’s terms are just too onerous, two sources said. India, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a

76 per cent stake and offload about $5.1 billion of its debt.

The Securities and Exchange Board of India (Sebi) extended its earlier deadline of April 21 for Sahara Mutual Fund (MF) to wind up all its schemes, allowing it to continue with its tax saving Sahara Tax Gain Fund till July 27.

Last year, it had instructed Sahara MF to strictly comply with the timelines specified in its order dated July 28, 2015. This became effective from October 23, 2017. Sahara MF had asked Sebi to extend the timeline, citing the three years of lock-in period at Sahara Tax Gain Fund.

Chennai, Apr 11 Hinduja Group flagship Ashok Leyland was "gung ho" about its defence business and would focus only on mobility of defence products, a top official said today.

The city-based heavy commercial vehicle maker has showcased six advanced products and technology solutions at the DefExpo organised by Ministry of Defence at Thiruvadanthai about 40kms from here.

Bangalore: Walmart Inc. looks likely to take the next round in the battle for India’s retail market over rival Amazon.com Inc.

Flipkart Online Services Pvt, the country’s leading e-commerce company, is leaning toward selling a controlling stake to the Bentonville, Arkansas-based company, rather than Amazon, because of the greater certainty in such a deal, according to people familiar with the matter.

Shares of oil exploration, equipment and services companies were trading higher on the bourses by up to 7% on Wednesday in otherwise subdued market after on higher crude oil prices.

Oil and Natural Gas Corporation (ONGC), Oil India, Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration and Deep Industries were up in the range of 3% to 7% on the BSE. On comparison, the S&P BSE Sensex was down 0.30% at 33,780 points at 10:07 AM.

NEW DELHI: The Telecom Regulatory Authority of India (Trai) is likely to seek more powers to regulate the flow of data from users to app makers, while defining what comprises personal information, as it finalises recommendations on data ownership, privacy and security that are likely to be released this month.

Mumbai: Debt-ridden Uttam Galva Steels Ltd Tuesday said the State Bank of India (SBI) has rejected its offer for a one-time settlement of dues.

The company, which is undergoing bankruptcy resolution, last month offered to pay Rs2,885 crore out of its total dues of Rs5,650 crore.

IT industry body National Association of Software and Services Companies (Nasscom) on Tuesday announced the appointment of Rishad Premji, chief strategy officer and member of the board, Wipro, as its chairman for 2018-19. Premji has been a member of Nasscom’s Executive Council and was the vice-chairman for 2017-18.

Axis Bank is likely to appoint global executive search firm Egon Zehnder to find a successor to its managing director and chief executive officer Shikha Sharma, who will step down at the end of the year, sources close to the development told FE.

“The board is likely to consider both external candidates as well as senior officials from within the bank. Egon Zehnder is expected to manage the succession,” a source said on condition of anonymity.

Maruti Suzuki India sold more utility vehicles (UVs) than Mahindra & Mahindra (M&M) in 2017-18 to emerge the top player in the domestic passenger vehicles market with a share of 50%. Its share in 2016-17 was 47.4%.

Society of Indian Automobile Manufacturers (SIAM) data released on Tuesday showed Maruti’s total sales of UVs in 2017-18 was 253,759 units, giving it a market share of 27.53% up from 25.7% in 2016-17.

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