STOCKHOLM: Within a year of setting up its plant, Volvo Car India plans to accelerate its manufacturing footprint in the country. The company expects majority of its product portfolio to be locally manufactured in the coming two years as it aims to compete more strongly with German rivals — Mercedes, BMW and Audi.

MUMBAI: Tata Motors will sell its defence business to sister company Tata Advanced Systems (TAS) for up to Rs 2,475 crore. The sale forms part of Tata Motors’ strategy of monetising its non-core assets and use the proceeds to bring down its debt, while for TAS, the transaction aids in consolidating its presence in the defence sector.

BENGALURU: Wipro Consumer Care and Lighting (WCCL), part of the unlisted entity Wipro Enterprises, has entered the $1-billion-dollar revenue club. The company did Rs 6,630 crore, or just about $1 billion, in 2017-18. That’s a growth of 10% from last year, when it did $908 million.

New Delhi: Top companies including Amazon and Coca-Cola may lease Indian Railways’ goods sheds, located in prime areas in big cities, and turn them into mechanized warehouses for their logistics networks.

Around 50 such railway goods sheds out of 300 located across India will be leased out to private companies on a public-private partnership (PPP) basis in the first phase by Indian Railways (IR) to help shore up its revenue.

Lanco Infratech is likely to face liquidation as a resolution plan by Thriveni Earthmovers was not approved by its committee of creditors (CoC), the company said in a regulatory filing on Thursday. One of the 12 large cases to be sent to the National Company Law Tribunal (NCLT) last year, Lanco’s 270-day insolvency deadline ends on May 4. Lanco Infratech owed banks Rs 43,502 crore at the end of fiscal 2017.

L&T Finance Holdings on Thursday reported a 28.5% year-on-year (y-o-y) rise in consolidated net profit for the quarter ended March, 2018 to Rs 405.99 crore on the back of a 31% y-o-y growth in total income to Rs 2,938.44 crore. Its net interest margin (NIM), a key measure of profitability, improved by 27 basis points (bps) sequentially to 5.32%.

key indices on Friday opened mildly lower tracking weak Asian cues. The BSE benchmark Sensex was down 92.18 points at 35,012.69 and the 50-share NSE Nifty fell 32.85 points to 10,646.80.

Asian shares were steady while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming US payrolls data for fresh catalysts.

PNB Housing Finance has posted growth of 36 per cent in its net profit to Rs 2.2 billion in the March quarter from Rs 1.5 billion during the corresponding quarter of the previous financial year.

On an annual basis, the housing company’s net profit increased 58 per cent to Rs 8.3 billion at the end of 2017-18, from Rs 5.23 billion at the end of 2016-17.

BSNL has introduced a new prepaid recharge pack for its customers. After launching the STV 99 and STV 319 prepaid recharges, the state-run telco now offers unlimited calls and 1GB data per day to the prepaid customers at Rs 349 for a validity of 54 days. The new recharge pack by BSNL aims to take on the recent offerings by the incumbents such as Airtel, Jio, Vodafone, and Idea.

NASA has said that it successfully demonstrated a new nuclear reactor power system that could enable crewed missions to the Moon, Mars and destinations beyond. NASA announced the results of the demonstration, called the Kilopower Reactor Using Stirling Technology (KRUSTY) experiment on Wednesday at its Glenn Research Center in Cleveland.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.