The government on Wednesday allowed foreign entities to own up to a 49 per cent stake in Air India to increase the prospect of successful disinvestment in the carrier.

In a Cabinet meeting chaired by Prime Minister Narendra Modi, the government clarified that substantial ownership and effective control of Air India would continue to be vested in Indian nationals.

Coal India (CIL), the world’s largest coal miner, will be adopting a new billing mechanism for consumers from the coming financial year, in line with global practices.

According to the plan, sales bills will now be raised on the basis of the actual consumption of gross calorific value (GCV), expressed as kilo calorie per kg of coal. Currently, consumers are charged on the basis of the coal grade.

Bank of Baroda (BoB), India's third-largest state-run lender, is seeking to sell unit Nainital Bank as it sheds non-core assets to bolster its balance sheet, people familiar with the matter said.

A decision on the size of the stake to be sold will depend on approvals from the Reserve Bank of India (RBI), the people said, asking not to be named as the information is not public. BoB holds 98.6 per cent stake in the 96-year-old Nainital Bank, which had assets of about Rs 77 billion ($1.2 billion) as of March end, information available on the lender's website shows.

Second largest private sector lender HDFC Bank expects an uptick in GDP growth in FY19 to 7.3 per cent from the 6.5 per cent estimated for FY18, expecting a rural push by Government and rise in consumption.

"We expect GDP growth to pick up to 7.3 per cent in FY19 and the gross value added growth to stand at 7.1 per cent," its economists said in a note.

Tata Motors on Wednesday reported 23 per cent increase in total global sales at 1,16,677 units for December 2017.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in December 2017 were at 47,182 units, an increase of 53 per cent over the same month previous year, the company said in a statement.

New Delhi: The Supreme Court on Wednesday upheld an order of the Kerala high court allowing real estate company DLF to regularize an illegal structure built along the banks of eco-sensitive Chilavannur backwaters, near Kochi.

DLF’s project costing over Rs300 crore comprises 180-odd luxury flats.

WhatsApp has launched a feature in its beta version that will let users switch to video calls from voice calls at the touch of a button.

According to a report in the Independent, if you are in the middle of a WhatsApp voice call and want to switch to a video call, you just need to tap that button to make the switch.

Tata Consultancy Services (TCS), Infosys, Wipro and Tech Mahindra were among 13 stocks from the information technology (IT) sector that hit their respective 52-week highs on Wednesday in an otherwise subdued market on expectation of improvement in outlook.

KPIT Technologies, NIIT Technologies, Persistent Systems, Tata Elxsi, Vakrangee, Mastek, Infinite Computer Solutions (India), Hinduja Global Solutions and BLS International were other IT stocks from the S&P BSE500 and S&P BSE Smallcap index that touched their respective 52-week highs in intra-day trade today.

Hyundai Motor India Ltd (HMIL) on Wednesday launched two new variants of its mid-sized premium sedan Verna with 1.4 litre petrol engine, priced at Rs 779,000 and Rs 909,000 (ex-showroom Delhi).

The company, which introduced a new generation Verna in August last year, is already selling the model with 1.6 litre petrol and diesel powertrains.

New Delhi: Direct tax collections grew by more than 18% in the first nine months of the fiscal year to two-thirds of the full-year target, providing a breather to the government as it struggles to contain the fiscal deficit.

Government revenues have been under pressure due to a shortfall in revenue from the goods and services tax (GST), prompting it to announce additional borrowing of Rs50,000 crore last month to fund spending in key sectors of the economy.

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