Spurred by investor interest, 132 small and medium enterprises (SMEs) raised a record Rs 17.32 billion through IPOs in 2017, which was more than three times the funds raised in the preceding year.

Funds raised were used for business expansion plans, working capital requirements and other general corporate purposes.

Reliance Industries is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls, international brokerage house CLSA said today. In a report, CLSA said that the stabilisation of just-commissioned refinery off-gas cracker (ROGC) and petcoke gasification projects would boost EBITDA, PTI reported.

ROGC is the latest addition to the RIL’s portfolio as the world’s first ever and the largest. The ROGC complex is a core component of RIL’s most innovative and world-scale J3 project at its integrated Refinery-Petrochemicals complex at Jamnagar.

Homegrown auto major Tata Motors MD and CEO Guenter Butschek has called employees to bolster accountability and drive performance within the organisation as the firm seeks to build on the positives of its turnaround drive that is expected to be completed by March.

In his New Year message to employees, Butschek said several steps taken in 2017 such as accelerated efforts on sales enhancement, rigorous cost reduction have shown quick results on market share and bottom-line improvement, but the effort needs to continue.

Indian Railways has set a target of December 2018 to link all its locomotives via ISRO satellites, making it easy to track trains and communicate with their crew in real time, officials said.

By year-end, all 10,800 locos of the railways will have antennas fixed on them and they will be monitored inside the driver's cabin, senior officials of the national transporter told PTI.

The Securities and Exchange Board of India’s (Sebi's) renewed push to split the role of an investment advisor and distributor is causing a lot of heartburn among mutual fund honchos. “If Sebi’s proposal is implemented, the mutual fund industry is likely to lose 40 per cent of its business,” says the CEO of a fund house.

Currently, the mutual fund industry’s inflows come from three sources – 40 per cent from banks and 30 per cent each from independent financial advisors and distributors. Industry players said that collection from branches of leading players like ICICI Prudential Mutual Fund, HDFC Mutual Fund and SBI Mutual Fund would be much more.

The Archaeological Survey of India is likely to restrict the number of tourists visiting the Taj Mahal to 40,000 daily, and put a three-hour cap on each ticket holder to tour the 17th-century Mughal monument in a bid to preserve the heritage site, a source in the culture ministry told PTI.

Culture Secretary Ravindra Singh held a high-level meeting today with ASI officials and representatives of Agra district administration and officers of the Central Industrial Security Force, where the decision was taken.

The proposed US Bill, Protect and Grow American Jobs, is riddled with onerous conditions and places unprecedented obligations on both Indian IT companies and clients using H-1B visas.

Software body Nasscom said it has flagged its concerns around visa-related issues in the US with the Senators, Congressmen and the administration, and will engage further in a dialogue over the next few weeks over the proposed legislation.

School buses will stay off roads in Mumbai tomorrow in view of a Maharashtra bandh called by Dalit outfits to protest the violent clashes in Pune yesterday.

The School Bus Owners' Association (SBOA) on Tuesday said it would not operate its fleet of 40,000 buses on Wednesday

At a meeting chaired by Rajya Sabha Chairman M. Venkaiah Naidu, a sizeable number of Opposition parties, including Congress, advocated sending the triple talaq Bill to a select committee.

The parties, including the SP, the BSP, the AIADMK, the DMK, the CPI, the CPI(M) and the BJD, have demanded detailed deliberations on the criminality clause, under which a man can be sentenced up to three years in prison for abandoning his wife through talaq-e-biddat or instant triple talaq.

The anger over marking the 200th anniversary of Bhima Koregaon battle in Pune district of Maharashtra continued on Tuesday as protestors disrupted suburbs and local train services on the Harbour Line.

The protesters blocked roads in several areas of Mumbai, forced shops to shut down and also attacked a journalist of a television news channel.

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