Mumbai: Shares of Reliance Communications (R-Com) on Tuesday jumped nearly 10.5 per cent after the company managed to narrow its consolidated loss to Rs 130 crore for the quarter ended December 2017.

The R-Com scrip gained 10.46 per cent, or Rs 2.85, to end at Rs 30.10 on the BSE. During the day, it rose around 19 per cent to Rs 32.40.

New Delhi: More domestic airlines could show interest in Air India, the soon to be privatized state-run airline, aviation consulting firm Capa said in its outlook for 2018-19.

“Up to four Indian carriers could express interest—Jet Airways, IndiGo, SpiceJet and Vistara,” Capa said in a report released in Mumbai on Tuesday.

With call drops still remaining a problem, telecom operators like Bharti Airtel and Reliance Jio on Tuesday assured the government that they will invest a total of Rs 74,000 crore in the coming fiscal to upgrade and expand their infrastructure. Telecom secretary Aruna Sundararajan, who held a meeting with the CEOs of the telecom firms, said they presented their analysis of call drops which showed that it has stabilised but other problems like fading of voice calls have increased due to various issues, including some mobile phones not complying with required certification norms.

Firms linked to Lanco Infratech — some of them subsidiaries — have registered claims of a whopping Rs 7,164.5 crore with the resolution professional (RP) of the company, documents reveal. This claim is bigger than that of all other operational creditors put together. In other words, there is a chance that Lanco will get back — via these enterprises — a chunky amount during the recovery process. Moreover, documents show that an amount of Rs 4,324.65 crore or 60%, of the claims has so far been admitted by the RP.

Even as life as well as non-life insurance industry have registered positive growth in the last few years, a lot needs to be done, especially in the general insurance space, insurance regulator Irdai said on Tuesday. In order to further boost the insurance sector, the Insurance Regulatory and Development Authority of India (Irdai) is set to give new licences to various players in non-life, health and re-insurance. “Today compared to many other countries, our penetration as well as growth is good.

To achieve the target of achieving 100 gigawatt (GW) of installed solar energy capacity by 2022, the Central government has invited tenders for 2,000 MW of solar power projects connected to the inter-state transmission system. The Solar Energy Corporation of (SECI) would sign 25-year power purchase agreements (PPAs) with the winning bidders and sell the power to electricity distribution utilities (discoms). The ceiling tariff has been set at Rs 2.93 per unit.

Bajaj Auto labour union president Dilip Pawar’s indefinite hunger strike entered the second day on Tuesday. Workers affiliated to the Vishwa Kalyan Kamgar Sanghatana also boycotted breakfast and lunch at the company canteen on Monday and Tuesday. Pawar wrote to Bajaj Auto chairman Rahul Bajaj seeking his intervention to resolve pending issues of wage revision settlement, termination of eight workers in 2013 and transfer of six workers in 2016.

TVS Motor Co has reported a 16.3% growth in its net profit for the quarter ended December 31, 2017 to Rs 154.35 crore, compared with Rs 132.67 crore in the same quarter last fiscal, even as revenues have grown at a faster 23.5% (after adjusting for excise and GST) to Rs 3,685 crore. The lag in profit growth was mostly due to lower income and higher taxes. Tax expenses increased sharply by 51% to Rs 56.01 crore in Q3 FY18 from Rs 37.13 crore in the year-ago period.

Idea Cellular on Tuesday said that it has partnered with domestic handset maker Karbonn to offer cashbacks worth Rs 1,500 and Rs 1,000 on smartphones and feature phones, respectively. This is Karbonn’s second such tie-up. It had partnered with Bharti Airtel last year to offer cashbacks on a select range of smartphones under the operator’s ‘Mera Pehla Smartphone’ offer.

State Bank of India (SBI), the country’s largest lender, on Tuesday raised interest rates on deposits of over Rs 1 crore by 40-125 basis points (bps). This is the second time the bank has raised rates on bulk deposits in as many months. Rates on one-year deposits were raised by 100 bps to 6.25%, while those on deposits with maturities of two years or more were hiked by 75 bps to 6%.

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