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.

With a steady rise in domestic fossil fuel consumption making the country’s target of cutting import dependence on oil more challenging, state-run Oil and Natural Gas Corp. (ONGC) has decided to aggressively expand its acreage under exploration and production from July once the government starts accepting bids for 26 unexplored sedimentary basins.

The country’s largest oil and gas producer intends to increase its exploration and production acreage at least by 30% over the next few years from 90,000 square kilometers at present, a senior official said, asking not to be named.

Mumbai: Reliance Industries Ltd (RIL) is targeting doubling its market share in fuel retail in the next two-three years as it expands the business, two people aware of the plan said. RIL currently has a 5% share of India’s fuel retail market.

“RIL is working on various plans to improve its market share in the fuel retailing segment. It is looking at all the markets it is not currently represented in, and these are areas other than urban markets,” said one of the two officials cited above. This person spoke on condition of anonymity as he is not authorized to speak to the media.

Indian banking is often in the news — sometimes as entertainment (around high-profile failed airline promoters), but mostly serious. The government’s recent NPA Resolution Amendment to the Banking Regulation Act is a serious development, which comes not a day too soon. NPAs now, at nearly Rs 9.6 lakh crore, account for 15 per cent of all bank loans and constitute a serious bottleneck to growth. However, is it kosher for RBI, as does the Central Bank (CB), to get operationally involved in the resolution of NPAs? And, is it enough?

Stock markets came off their peak and turned weak on Monday after two back-to-back sessions of gains as the benchmark Sensex cracked below 31,000-mark after investors indulged in profit-booking. Besides, muted earnings from some companies weighed on sentiment.

The 30-share index slipped below the 31,000-mark by falling 158.31 points, or 0.51%, to 30,869.90 as profit-booking set in recent gainers. The gauge had gained 726.57 points and closed at life high of 31,028.21 after scaling an intra-day record high of 31,074.07 on Friday.

The death toll from devastating floods in Sri Lanka on Sunday rose to 151 as rescuers pulled out more bodies from mudslides triggered by the country's worst torrential rains since 2003 that displaced nearly half a million people.

Sri Lanka has sought international assistance. India, the first country to respond, dispatched three Navy ships with emergency supplies to help Sri Lanka. The first Indian ship reached here yesterday.

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