Nine coaches of the Delhi-bound Kaifiyat Express derailed in Auraiya district of Uttar Pradesh on Wednesday morning, resulting in injuries to at least 74 people, in the second rail accident in the state in four days.

The train travelling from Azamgarh to Delhi collided with a dumper at around 2:40 am between Pata and Achalda railway stations, a spokesperson for the North Central Railway said.

The tussle between Tata Group and Cyrus Mistry keeps on erupting.

Hours after Tata Motors annual general meeting (AGM) ended, Cyrus Mistry's office issued a statement saying its practice of lending without adequate risk assessment, particularly in the Nano and small commercial vehicle (SCV) segment, led to a huge NPA loss of Rs 4,000 crore for both Tata Motors and Tata Motor Finance.

Bharat Heavy Electricals Ltd (Bhel) is changing its business model to focus on solar power generation, create equipment to help thermal plants drastically reduce emissions and get a larger share of transportation business like metro coaches.

This follows the recent rap by the Comptroller and Auditor General for not doing enough to diversify and grow aggressively.

Second largest private sector lender by assets, HDFC Bank, on Tuesday, said it will shortly convert over 4 lakh of its point of sale (PoS) terminals to a digital PoS machine that will offer four additional digital payment options.

DigiPoS will be able to process the Unified Payment Interface (UPI), Bharat QR, SMS Pay and PayZapp, in addition to the facility to pay via debit or credit cards. In the coming months, HDFC Bank will convert its entire network of over 4 lakh PoS machines to DigiPoS without any investment by the merchants.

Hyundai Motor India Ltd (HMIL) today launched a new version of its mid sized sedan Verna with introductory price starting at Rs 7.99 lakh ( ex-showroom Delhi).

The petrol variants of the fifth generation Verna are priced between Rs 7.99-12.23 lakh while the diesel trims are tagged between Rs 9.19-12.61 lakh.

Ashok Leyland has partnered with IIT Madras to carry out research and development (R&D) activities for strengthening battery engineering and related sub-parts, especially for electric vehicles. IIT Madras is the first institution to set up such an initiative to develop the electric mobility ecosystem in India with industry participation.

Ashok Leyland will sponsor the Centre of Battery Engineering (CoBE) at IIT Madras.

Omkar Goswami, who was on the board of Infosys from 2000 to 2015, has told co-founder NR Narayana Murthy to walk away and let the company do its business by healing itself from the injuries inflicted upon it by Murthy's own actions.

"Enough is enough. You have drawn first blood. Do not mortally wound the organisation by persisting in your actions. Let Infosys get on with its business, heal itself from the injuries that you have inflicted and again grow shareholder value," Goswami has said in an open letter published in The Economic Times.

New Delhi: In a relief to solar project developers, the Union environment ministry has said that the provisions of the Environment Impact Assessment (EIA) notification, 2006, which mandates environment clearance, will not be applicable to solar PV (photovoltaic) power projects, solar thermal power projects and solar parks.

The environment ministry, however, clarified that the disposal of PV cell would be covered under the provisions of Hazardous and Other Waste (Management and Trans-Boundary Movement) Rules, 2016.

Mumbai: Tata Motors Ltd Monday said it will invest Rs1,500 crore in its commercial vehicle business (CV) as it seeks to regain lost ground and return to profitability this fiscal year. The car and truck maker is also focusing on cost cutting which will save it at least Rs1,500 crore this fiscal, said Guenter Butschek, chief executive officer (CEO) and managing director.

“Our responsiveness to market volatility was not enough,” Butschek said at a press meeting in Mumbai on Monday. The company has realized the need to shift focus and get the “back bone” right, he added. The CV business is Tata Motors’ cash cow, fetching more than seven out of every ten rupees of its India revenues.

Mumbai/New Delhi: Reliance Industries Ltd, owned by Mukesh Ambani, is considering entering the power-storage business with its partner BP Plc. to expand into the country’s growing renewable energy sector, according to two people with knowledge of the plan.

The companies are considering a plan to set up energy-storage projects near solar- and wind-energy installations, the people said, asking not to be identified, citing company policy. A decision on investment and implementation will be taken by December, they said.

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