Maruti Suzuki’s first premium compact hatchback Baleno has become the second-largest selling vehicle of the company, next only to the Alto, overtaking the Dzire (compact sedan), Swift (hatchback) and the Wagon R in the first seven months of the current fiscal. This is the first time that a premium product, or an above `6-lakh car, has managed to climb up to the second position in the volumes table. In the April to October period, the volumes of Baleno increased by 64.9% y-o-y to 1,08,329 units and the average production of the car has been around 17,000 units per month.

According to a study titled ‘Food processing sector-Challenges & growth enablers,’ jointly conducted by ASSOCHAM and Grant Thornton, the Indian food and retail market is expected to touch $482 billion by 2020 from $258 bn in 2015. The report further added that the Indian food processing sector has potential to attract $33 bn of investment and generate employment of 9 million (mn) persons’ days by 2024. Currently, the food processing industry in India stands at $121 billion and offers a massive opportunity for growth. However, the study says that this sector should also focus on product conformity with global standards and quality together with factors like logistics traceability and safety, quality of packaging and delivery.

L&T Metro Rail Hyderabad (LTMRHL), which is building the 72-km elevated Metro project in Hyderabad, is in talks to raise fresh funds to complete the second phase of the Hyderabad Metro Rail project. The company wants to raise about Rs 1,000-1,500 crore to lower the cost of debt. The first phase of the 30-km route of Hyderabad Metro Rail project will be inaugurated by Prime Minister Narendra Modi on November 28 and the remaining stretch is expected to be completed by the end of next year. The erstwhile Andhra Pradesh government had signed the concession agreement with LTMRHL, a special purpose vehicle, for the development of this project under the Design, Build, Finance, Operate and Transfer (DBFT) basis. Billed the largest Metro rail project in the PPP mode, it was taken up in 2010 for Rs 14,132 crore.

Equity benchmarks on Wednesday opened in green tracking positive cues from Asian markets. The 30-share BSE Sensex was up 95.75 points at 33,574.10 and the 50-share NSE Nifty gained 29.80 points at 10,356.70.

Among the gainers in early trade were Yes Bank, NTPC, Ambuja Cements, Zee Entertainment, Reliance Industries, Tata Motors and Bosch.

Skype, Microsoft Corp's internet phone call and messaging service, has disappeared from app stores in China including that of Apple Inc, indicating the latest setback for a foreign tech service in the country.

Apple, responding to questions about Skype's absence, late on Tuesday said it had removed several internet phone call apps from its App Store in China after the country's government said they violated local laws.

Indicating that worst might be over for the telecom industry, all the top three incumbent operators added around 4.74 million subscribers during October.

Although Bharti Airtel has been adding customers regularly barring an odd month when the telco lost users, Vodafone and Idea Cellular have been losing subscribers for the past few months, causing their base to shrink a little.

The Telecom Regulatory Authority of India (Trai) has recommended relaxing the rules for spectrum-holding caps, a move that will benefit operators such as Vodafone and Idea Cellular to retain their airwaves after the merger as also allow other telcos to get more spectrum in a particular band.

Trai has recommended raising the 25 per cent overall spectrum limit to 35 per cent whereas the 50 per cent intra-band cap has been removed. In place of it, the regulator has proposed having a cap of 50 per cent on the combined spectrum holding in the sub-1 GHz bands (700, 800 and 900 MHz).

New Delhi, Nov 21 German luxury car maker Mercedes-Benz is driving towards India's smaller cities and towns to tap potential customers with an eye on tightening its grip on the country's premium automotive segment.

The company through its 'Brand Tour' covering 12 locations in India is seeking to offer 'Mercedes-Benz experience' to prospective buyers in Tier II and Tier III cities, where it doesn't have a direct presence.

Private sector lender YES Bank has raised $400 million in syndicated loans from lenders in Taiwan and Japan for on-lending to clients.

It exercised a greenshoe option to raise $250 million in a five-year commercial loan from 17 Taiwanese banks, a statement said. In Japan, it raised JPY 16.5 billion or $150 million from eight lenders in a one-year loan in a maiden transaction.

Shares of Reliance Communications soared over 14 per cent on Tuesday amid reports that lenders of the debt ridden firm have approved the sale of its real estate assets in Delhi and Chennai to a Canada-based company.

The stock surged 14.10 per cent to Rs 13.75 on BSE.

On NSE, shares of the company zoomed 14.10 per cent to Rs 13.75.

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