New Delhi: Auto major Mahindra & Mahindra (M&M) on Friday said it will invest up to Rs176 crore in car and bicycle rental firm Zoomcar India or Zoomcar Inc., its US incorporated holding parent company.

Under the aegis of the deal, Mahindra Group would invest up to Rs176 crore in Zoomcar India or Zoomcar Inc. which, when converted to common stock of Zoomcar Inc. on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc., the company said in a statement.

Mumbai: Aditya Birla Group expects savings from the merger between group company Idea Cellular Ltd and Vodafone Group Plc’s India unit to be significantly more than the $10 billion it forecast in March last year, group chief financial officer Sushil Agarwal said in an interview.

The benefits accruing out of the Idea-Vodafone merger will increase on account of savings made by both Idea Cellular and Vodafone India Ltd because of synergies in capital and operating expenditure as the group now expects the merger to be completed much before the original deadline of September 2018.

The benchmark BSE Sensex advanced by over 196 points in early trade today on buying by institutional and retail investors in IT, banking and FMCG stocks.

Asian markets were trading in the green following positive lead from Wall Street as investors continued to shun inflation worries.

Volvo’s V60 was scheduled to make its global debut on the 21st of February 2018, but only a few hours after Volvo published the first teaser images for the V60. The internet produced some pretty revealing images of Volvo all new wagon. First published by a website AutoMotoSvijet magazine from Bosnia and Herzegovnia, before promptly coming down. These images seem to indicate the next generation of Volvo’s V60 station wagon. A closer look at the images which shows the car in side profile, shows a V60 that is almost as large as its larger sibling the V90.

Global technology giant Microsoft on Thursday announced the launch of a $500 million programme that delivers access to technology, go-to-market and community benefits to help start-ups grow their customer and revenue base.

“We are committing $500 million over the next two years to offer joint sales engagements with start-ups, along with access to our technology, and new community spaces that promote collaboration across local and global ecosystems,” said the company.

PNB Housing Finance (PNB HFL) is planning to raise $400 million through its maiden issue of masala bonds.

The money will be utilised to finance retail buyers/developers of affordable housing as well as developers of green buildings.

PNB fraud, the biggest banking scam in India, has yet again put focus on those offenders who fled the country after committing the crime. Here’s a look at those who left India after their names surfaced in major economic offence:

1: Vijay Mallya: The ‘king of good times’ fled the country and is currently hiding in London. In India, Mallya faces several cases. The biggest case against him is how his Kingfisher Airlines defaulted on loans to the tune of Rs 9,000 crore from the banks in India.

MUMBAI: In addition to their commercial leasing business engagement, Singapore sovereign wealth fund GIC and realty developer DLF are working on a high-rise residential project with saleable area of 7 million sq ft near central Delhi.

The project will be located in Moti Nagar area where DLF had bought two separate land parcels from DCM Shriram Consolidated and Lohia Group in 2007. The developer had paid Rs 1,582 crore for the 38-acre property known as Swatantra Bharat Mills and DCM Silk Mills.

Microsoft has committed $500 million for a new programme to help nurture start-ups, offering resources such as Azure credits and sales support. “Microsoft for Startups” will deliver access to technology, go-to-market and community benefits to help startups grow their customer and revenue base.

The rupee gained another 14 paise to trade at a two-week high of 63.95 against the US dollar in opening trade on Thursday on dollar selling by exporters and banks amid firm equities.

The dollar's weakness against other currencies overseas also supported the rupee sentiment, a currency dealer said.

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