Mahindra & Mahindra (M&M) on Friday said it will be launching its luxury electric car brand, Automobili Pininfarina, in Europe, with the first hypercar scheduled for 2020. In a release, the company said the brand will “design, engineer and manufacture high technology, extreme performance, luxury EVs for the most discerning global customers”

Hinduja Group flagship Ashok Leyland, the largest suppliers of mobility solutions to the Indian Army, has won another critical order from the ministry of defence (MoD). The contract is for supplying Ashok Leyland’s High Mobility 10×10 vehicles (HMV 10×10,) which have been fully developed in India. This order will end a long search by the Indian Army, which has been looking for HMV 10x10s to carry the Smerch rockets. This initial order is worth over Rs 100 crore, the company said in a release in Chennai on Friday.

As Infosys closed the financial year 2017-18 with its numbers meeting the Street’s expectations, it also made an effort to erase part of its recent past, in which differences emerged between the company and its founders, and then Chief Executive Officer (CEO) Vishal Sikka quit the firm.

The new regime made clear its intention to grow the digital business by announcing an acquisition in the space. The company also said it would sell two key acquisitions, Panaya and Skava, which were bought under the leadership of Sikka.

ArcelorMittal has alleged it received differential treatment in the eligibility test it failed in the first round of bidding for Essar Steel as compared to JSW Steel’s with respect to Monnet Ispat & Energy. The case, as put forward by the legal sources close to ArcelorMittal, is somewhat like this: Seema Jajodia, who is a sister of JSW group chairman and managing director Sajjan Jindal and an erstwhile promoter of Monnet Ispat, had transferred her shares in Monnet Ispat on October 24, 2017, but continued to be reflected as a promoter in the shareholding pattern uploaded on the stock exchanges for the quarter ended December 2017.

HDFC Bank on Friday said it plans to raise Rs 500 billion through bonds in the next 12 months to fund business expansion.

The decision to this effect will be taken in the board meeting on April 21, 2018, HDFC Bank said in a regulatory filing.

Ashok Leyland was trading 3.3% higher at Rs 150 on the BSE after the company said it has won an order from the Ministry of Defence (MOD) for 10x10 vehicles to carry the Smerch Rockets.

“This order will end a long search by the Indian Army, who has been looking for HMV 10x10s to carry the Smerch Rockets, this initial order is worth over Rs 1,000 million,” Ashok Leyland said in a press release.

BENGALURU: Showing a clear intent to push its global selling business from Indian merchants, Amazon has now opened the Australian market for local sellers. With the addition of Australia, Indian merchants can now sell to 11 international markets, including the US, Canada and Europe.

Globally, cross-border sales by small-and medium-sized businesses on Amazon grew more than 50% last year, with Indian sellers clocking 200% growth, Eric L Broussard, Amazon VP and head (international seller services), said.

Calcutta: Jharia coalfields in the Damodar valley basin offer the best prospect for Coal India to extract coal bed methane gas. CIL sources on Thursday said that the company's exploration arm - the Central Mine Planning and Design Institute - has already undertaken initial activities. An area of 24 square kilometres has been delineated in Jharia coalfields in the mining leasehold of CIL subsidiary - Bharat Coking Coal Limited.

Reports that the state-run oil marketing companies (OMCs) will absorb about Re1 a litre of the increase in diesel and petrol prices sent these stocks plummeting on Wednesday.

OMCs are Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corp. Ltd (HPCL) and Indian Oil Corp. Ltd (IOC).

The benchmark Sensex gained over 100 points in early trade , continuing its rising streak for the seventh straight session on the back of positive macroeconomic data, ahead of Infosys earnings later in the day.

The 30-share barometer was trading higher by 134.96 points, or 0.39 %, at 34,236.09 with all the sectoral indices, led by metals, banking and realty stocks rising by up to 1 %.

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