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Fiat India to supply 2.2 lakh diesel engines to Maruti Suzuki and Tata Motors

Fiat India to supply 2.2 lakh diesel engines to Maruti Suzuki and Tata Motors

Fiat India has been supplying its tried and tested 1.3 litre Multijet diesel engine to car manufacturers such as Maruti Suzuki and Tata Motors for years. The engine is now powering enough cars in the country to be labelled as the national engine of the country. In a further development, the company has signed a new agreement with the two automakers in the country, by which Fiat will supply around 2.2 lakh units of its 2.0 litre Multijet turbodiesel diesel engine and not the 1.3 litre unit.

No relief for Tata Power, CERC refuses to allow termination of costly PPAs with NTPC, NHPC, THDC plants

No relief for Tata Power, CERC refuses to allow termination of costly PPAs with NTPC, NHPC, THDC plants

The Central Electricity Regulatory Commission (CERC) has said it cannot allow Tata Power Delhi Distribution (TPDDL) to terminate some of its power purchase agreements (PPAs) due to high average power purchase cost of NTPC, NHPC and THDC plants. The quasi-judicial body said since TPDDL’s petitions have no relationship with tariff regulation, taking a decision on such a matter does not come under its purview.

Markets on a roll: Sensex soars 189 points on reforms, earnings boost

Markets on a roll: Sensex soars 189 points on reforms, earnings boost

BSE benchmark Sensex rose 189 points to reclaim the 30,000-level and NSE Nifty went past 9,350 in early trade, buoyed by encouraging corporate earnings and a string of government reforms, including NPA resolution and steel policy.

The domestic equities also got a boost after the US Federal Reserve kept its policy rate unchanged in its two-day policy review.

L&T Technology Services to buy Silicon Valley-based firm for Rs 180 cr

L&T Technology Services to buy Silicon Valley-based firm for Rs 180 cr

L&T Technology Services (LTTS), the engineering services arm of Larsen & Toubro, said it has signed an agreement to acquire US-based design services provider Esencia Technologies Inc.

The company will pay $27 million (nearly Rs 180 crore) to acquire the California-headquartered firm and $15 million ( Rs 100 crore) will be paid upfront. "The rest will be paid over a period of four years," said Keshab Panda, chief executive officer and managing director, LTTS.

Coal India devices strategy to stave off impact due to mine grade revision

Coal India devices strategy to stave off impact due to mine grade revision

Coal India may consider revising coal prices this year in case sales volume doesn't pick up to compensate for the revenue loss arising out of grade revision of its 177 mines.

A senior company official said while the company had suffered poor sales in the last fiscal year as sales volume grew only 1.6 per cent cent at 543.16 million tonne (mt) against the targeted 8.8 per cent on account of lower than estimated power demand, the situation is gradually improving now and Coal India is likely to meet its offtake targets in the coming months.

Airports push for Aadhaar-enabled entry

Airports push for Aadhaar-enabled entry

New Delhi: Airports are pushing for Aadhaar-enabled entry into their premises to improve security and increase passenger throughput as air traffic peaks across India.

Currently, most passengers have to show their printed or mobile air tickets and a government identity card to enter airports.

SAT admits Reliance Industries plea against Sebi ban

SAT admits Reliance Industries plea against Sebi ban

The Securities Appellate Tribunal today admitted Reliance Industries’ plea against a Sebi order banning it from equity derivatives markets and will hear the matter next on August 8, with the firm saying it should be allowed to invest its surplus funds, including through mutual funds. Reliance Industries’ counsel Harish Salve requested the tribunal to allow it to at least invest its surplus funds in established mutual funds till the time an order is passed. In response, the tribunal said that once the company makes a separate application, Sebi can consider it and take a decision as per applicable law.

Sensex, Nifty little changed; ICICI Bank results in focus

Sensex, Nifty little changed; ICICI Bank results in focus

Indian shares were nearly unchanged on Wednesday as key corporate results including that of ICICI Bank Ltd remained in focus, with investors also keeping an eye out for the outcome of a two-day policy meeting of the US Federal Reserve. The Fed is widely expected to stand pat on interest rates, but may offer hints on the possibility of a rate hike in June.

Bajaj Auto motorcycle sales at 2,93,932 units in April

Bajaj Auto motorcycle sales at 2,93,932 units in April

NEW DELHI: Bajaj AutoBSE 0.64 % today reported a marginal 1 per cent increase in motorcycle sales at 2,93,932 units in April this year.

The company had sold 2,91,898 units of motorcycle in the same month last year.

Microsoft launches Surface laptop, streamlined Windows 10

Microsoft launches Surface laptop, streamlined Windows 10

Microsoft is introducing a Surface device aimed at students.

The Surface Laptop is the first Surface device without a detachable keyboard.

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