Telecom services company Reliance Jio Infocomm, part of the Mukesh Ambani-controlled Reliance Industries, on Thursday clarified that the company had not launched any app for soliciting investments in the so-called JioCoin cryptocurrency.

“Reliance Jio has come across reports in media and other websites about the existence of purported JioCoin apps on the internet that are soliciting investments in cryptocurrencies from people,” the company said in a media release.

State-owned thermal power major NTPC recorded a fall of 4.4 per cent in its net profit to Rs 23.6 billion in the third quarter ended December 31. Total revenue rose to Rs 210 billion during Q3 compared to Rs 196.46 billion in the year-ago period.

The board of directors decided to pay interim dividend at the rate of 27.3 per cent (Rs 2.73 per share) on the face value of paid-up equity shares of Rs 10 each for 2017-18.

Telecom regulator Trai on Wednesday slashed the charges for mobile number portability by almost 79 per cent to a maximum of Rs 4.

The prescribed ceiling for mobile number portability rates was Rs 19, so far.

Automaker Ford India today unveiled a new compact utility vehicle 'Freestyle' that will hit the market by April this year.

Powered by a brand new 1.2 litre 3 cylinder petrol engine and five-speed manual transmission, the new model can generate a power output of 96 PS.

Mahindra & Mahindra has set a target of manufacturing 3,000 electric vehicles a month over the next two years and will invest up Rs 600 crore in a new plant for such vehicles, a top company official said.

"Right now, we are rolling out 200 electric vehicles a month. We are going to rev up this capacity to 700-800 monthly over the next four months," M&M managing director Pawan Goenka told PTI here.

Tata Motors expects demand for trucks to remain strong for the next two years on back of the improving performance of the core sectors, pick up in infrastructure projects and implementation of BSVI emission norms in 2020 that is likely to prompt transporters to advance purchase, said Girish Wagh, head of truck and business at Tata Motors. Truck sales in India - a proxy for economic activity, have been on a rise in eight out of nine months of the current financial year.

State-owned Oil and Natural Gas Corp (ONGC) on Wednesday said it has bought government's entire 51.11 per cent stake in oil refiner HPCL for Rs 369 billion.

In a regulatory filing, ONGC said it bought 778.8 million shares in Hindustan Petroleum Corp Ltd (HPCL) for Rs 473.97 per share.

Suzuki’s Hansalpur plant in Gujarat has emerged as the state’s largest manufacturer of cars in less than two years of it commencing operations. It has consequently also overtaken the Sanand unit of Ford and Tata Motors in volume.

The Hansalpur unit became operational in early 2016 with the production of Baleno, a bestseller from Maruti. The plant is now getting ready to manufacture the new Swift hatchback.

Global coal prices have been on a steady rise in the last few months, increasing cost pressure for thermal power producers in the country. This is happening as they struggle with lower offtake for the power they generate.

The price of 4,200 kcal/kg grade coal, which is a very popular grade bought by both India and China, has surged 33% to $49.25 per tonne as of Friday, compared with the start of 2017 when it was assessed at $37 per tonne, Platts data shows.

Indian industrial group Larsen & Toubro Ltd reported a 53 per cent rise in third-quarter profit, beating analysts' expectations, as new orders rose, mainly in the infrastructure and hydrocarbon segments.

Net profit rose to Rs 14.90 billion ($234.20 million) in the quarter ended Dec. 31, from 9.72 billion rupees a year earlier.

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