Hyundai Motor India on Friday unveiled the all new version of its mid-sized sedan, Verna which is slated to be launched later this month.

The fifth generation Verna is based on a newly developed K2 platform and has been developed with an investment of Rs 1,040 crore.

The new telecom policy in the works should ensure equal policies for competing technologies, an advance yearly road map for spectrum allocation, and cut levies for operators, industry body COAI has said. The policy should have some “permanent fixes” for the failing financial health of the sector and the industry cannot be treated “as a place to go for revenue”, COAI Director General Rajan Mathews told PTI. The policy — the work on which has already started at the telecom department — should ensure level-playing-field between mobile operators and over-the-top players (Internet- based calling and messaging providers like WhatsApp).

Markets regulator Sebi will next month auction two properties owned by Suman Motels for reserve price totaling more than Rs 6 crore. The move is part of an effort by Sebi to recover money that the company had illegally mobilized from people. The properties to go under the hammer include two land parcels located in Maharashtra, Securities and Exchange Board of India (Sebi) said in a public notice issued today. It has invited bids for the sale of immovable properties of Suman Motels Ltd through e-auction on September 13. The reserve price of the properties is fixed at Rs 6.6 crore, it added.

MUMBAI: Having a small plate of fruits for lunch or dinner may not sound particularly appetising, but that is the only meal choice available to Jet Airways domestic passengers on both economy and business class if they happen to be allergic or intolerant to lactose, gluten or need to be on a low-cholesterol diet.

Jet Airways recently narrowed down its list of meal preferences on offer for domestic passengers from 23 to a meagre seven. That makes it the only full-service airline in India to leave slim pickings for passengers who suffer from food allergies.

BEIJING: Sweden's Volvo Cars, a unit of Zhejiang Geely Holding Group, has agreed to make some engines available for Geely-branded vehicles, sources said, deepening ties between the carmakers who already share technology through third brand Lynk & Co.

Three people close to Geely and Volvo said the first Volvo-powered Geely model was expected to hit the market as early as late next year as a 2019 model year car.

Banking, healthcare and FMCG stocks weighed heavy on markets today as the Sensex faltered and the Nifty dropped below the key 10,000-mark in early session. Asian shares were a mixed bag.

The 30-share Sensex fell 76.20 points -- or 0.23 % -- to 32,161.68. The gauge had lost 337 points in the previous two sessions.

PNB Housing Finance has surged 6% to Rs 1,533 on BSE in early morning trade after the company reported a robust 93% year on year (YoY) jump in net profit at Rs 185 crore in June quarter (Q1FY18), on back of strong net interest income. The housing finance company had logged profit of Rs 96 crore in the same quarter an year ago.

Net interest income during the quarter under review rose 64% to Rs 344 crore from Rs 209 crore in the corresponding quarter of previous fiscal year.

Software services firm Infosys has said it would acquire London-based firm Brilliant Basics for Rs 62.76 crore (£7.5 million).

The Bengaluru-based Indian IT services major said the acquisition of the firm that specialises in customer experience and product design would help it expand design-based technology services in Europe and West Asia.

Indian Oil Corporation (IOC) has posted a 45 per cent drop in net profit to Rs 4,548.51 crore for the April-June quarter of financial year 2017-18, as against Rs 8,268.98 crore during the corresponding quarter in FY17.

The reason for the drop in net profit was due to a higher inventory loss of Rs 2,033 crore for the quarter under review, compared to an inventory gain of Rs 3,785 crore in the year-ago quarter. A dip in gross refining margin (GRM) is also seen as a reason for the decline in profit. The average GRM for the quarter under review stood at $4.32 per barrel, while the GRM for April to June 2016-17 was $9.98 a barrel.

The ongoing tussle between NR Narayana Murthy, founder of Infosys, and the board turned murkier as the veteran has reportedly asked the findings of the law firm Cyril Amarchand Mangaldas relating to corporate governance lapses to be made public. Earlier,Infosys had hired Cyril Amarchand Mangaldas to review the corporate governance practices in the company. The law firm was to gather inputs from the promoters and other key stakeholders and evaluate them to make recommendations to the board. Previously, the founders had raised issues pertaining to the quantum of salary hike given to the CEO Vishal Sikka and the size of the severance packages given to former CFO Rajiv Bansal and former General Counsel David Kennedy.

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