NEW DELHI: The CBI has initiated investigations into key decisions made on Air India when the United Progressive Alliance was in power, including the merger of Air India and Indian Airlines, purchase of 111aircraft by the national carrier and giving away of profitable routes to rival airlines.

The agency filed two cases on the aircraft purchase deal, another on giving away the routes and started a preliminary inquiry into the merger of the airlines. In a statement, the CBI said it started the probe following orders from the Supreme Court. Air India had put an order for 111aircraft — 68 from Boeing and the balance from Airbus.

Oil and Natural Gas Corporation's (ONGC's) onshore crude oil domestic production witnessed an increase of 2.4% during last fiscal, after falling for three consecutive years.

Onshore production rose to 5.97 million metric tonne (mmt) during FY17 from 5.82 mmt a year ago. The reversal has happened on account of early monetization of discoveries at Ankleshwar, Cauvery (Madnam) and Rajahmundry (Keshnapalli West), among others, shows the latest data available with the oil and gas major.

Coal India fell as much as 2.8% to Rs 260, its lowest since March 21, 2014 after the company missed analyst estimates and posted a 38% fall in its consolidated net profit to Rs 2,716 crore for the March-quarter. The company had reported profit of Rs 4,398 crore in the corresponding quarter last year.

Even though the revenue from operations in the quarter increased by 8.6%, to Rs 24,780 cr, the miner was hurt by tepid power demand, falling realisations from e-auctions and rise in prices which resulted in the fall.

Over 800,000 chemists across the country have decided to shut shop on Tuesday to protest against the government's e-platform plan to regulate the sale of drugs.

The platform is being set up to ensure supply of quality drugs and curb anti-microbial resistance, but chemists are opposing the move. Under the plan chemists will have to upload details of all medicines purchased and sold on the e-platform and will have to pay a transaction fee to support cost of running the system.

India’s largest power generation company, NTPC, has reported a 25.5 per cent decline in net profit to Rs 2,079 crore for the quarter ended on March 31, 2017, with the utility attributing the slump to “impairment of investment in the Ratnagiri Power plant, known as Dabhol project”. In a statement issued to the BSE, the firm said the impairment loss was of Rs 783 crore in Ratnagiri Gas And Power Pvt Ltd, a joint venture of the company.

The company’s standalone net profit in 2016-17 was down to Rs 9,385.3 crore from Rs 10,770 crore in the previous financial year.

Auto maker Ford India is offering discounts of up to Rs 30,000 on its compact SUV EcoSport, sedan Aspire and hatchback Figo, to pass on benefits of new tax rates under GST, to be rolled out in July.

The company is offering a discount on EcoSport in the range of Rs 20,000 to Rs 30,000. The compact SUV is now priced between Rs 7.18 lakh and Rs 10.76 lakh (ex-showroom Delhi).

Engineering giant Larsen & Toubro Ltd reported a 28 percent rise in consolidated net profit for the March quarter, beating market estimates, with the infrastructure segment generating higher revenue.

ourth-quarter profit was Rs 3,180 crore, compared with a profit of Rs 2,482 crore a year earlier, while total income from operations rose 12% to Rs 36,828 crore.

Markets regulator Sebi has invited bids from independent agencies, which will be responsible for delivery of valuable documents within and outside India. The agency is required to collect the consignments from Sebi office in Mumbai and carry them either by air or train or any other accepted mode of transport, whichever may be the quickest mode for the expeditious transport of the documents, to the respective destination centers, according to Sebi.

Solar panel equipment will attract the lowest tax rate of 5% under the GST regime, as against the initially proposed 18%, Revenue Secretary Hasmukh Adhia said.

Responding to industry queries on twitter, Adhia said, "All solar equipment and parts would attract 5% GST only". Senior officials on Monday said that the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state counterparts, is likely to reconsider the decision of levying 18% tax on solar equipment.

Legendary cricketer Sachin Tendulkar's documentary drama film Sachin: A Billion Dreams has collected Rs 27.85 crore in its opening weekend at the box office, according to makers.

The film released on May 26 in Hindi, Marathi, Tamil, Telugu and English.

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