NEW DELHI: Tata MotorsBSE 1.25 % today reported over 9 per cent decline in global sales in April at 73,691 units, including that of Jaguar Land Rover (JLR) vehicles.

The company had sold 81,333 units in April 2016, Tata Motors said in a statement.

The 30-share BSE Sensex closed at a new all time high on Wednesday on the back of predictions of a normal monsoon this year. Sensex closed at 30,248.17, up 314.92 points or 1.05% from previous close.

Intraday, it hit a high of 30271.60 but came down later in the day to close at its new all time high.

The government on Wednesday condemned the killing of an Indian Army officer from Jammu & Kashmir who was abducted and shot dead by terrorists in Shopian district.

The incident took place when Lieutenant Umar Fayaz had gone to attend the wedding ceremony of a relative.

Indian IT service providers such as Infosys and Wipro have tightened performance appraisals for employees, weeding out non-performers, as they see businesses slowing for traditional services, technology shifts towards digital, and growing protectionism in their main markets.

Wipro, India’s third-largest software exporter, has a programme Band Inertia, which looks at scrutinising employees for performance in the same band for longer periods, identify gaps to reskill, and mark out those who are unable to upskill with newer technologies.

Solar power price touched a new record low in the bidding held for Bhadla Solar Park in Rajasthan. The companies eyeing 250 Mw in the park took the lowest bid to Rs 2.62 per unit, which is less than the average price of coal-based power in the country.

The winning companies are South African solar company Phelan Energy Group Limited which won 50 MW, US Avaada Power Group which bagged 100 MW at same rate. Clean energy arm of SoftBank Group also clinched 100 MW at Rs 2.63/unit as the bidding followed bucket filling method to award quantities in the 750MW solar park. Balance 500MW would be awarded on Wednesday.

The Supreme Court on Tuesday convicted beleaguered businessman Vijay Mallya for contempt of court and summoned him to appear on July 10.

The conviction was on the basis of a contempt on plea filed by the consortium of banks.

Mumbai: The Indian rupee on Tuesday weakened against the US dollar, tracking the losses in Asian currencies markets pushing the currency to its biggest loss for the calendar year.

Rupee closed at 64.63 a dollar, down 0.50% from its Monday’s close of 64.31. The rupee opened at 64.42 a dollar and touched a high and a low of 64.42 and 64.70, respectively.

Mumbai/Bengaluru: India’s move to strengthen the hand of its central bank will help it push reluctant lenders towards write-downs and errant borrowers into insolvency, bankers said, but the country is far from drawing a line under its $150 billion of sour debts.

India’s bad loan problem is choking off new credit and dampening economic growth, and the government of Prime Minister Narendra Modi knows it needs to act.

Country’s largest lender SBI on Tuesday said it plans to raise funds through follow-on public offer and institutional placement in the current fiscal and has sought applications from merchant bankers for managing the issue.

“The bank intends to tap capital markets via a QIP/FPO. The issue size may vary based on various factors including but not limited to management discretion and the decision of the shareholders,” SBI said in a public notice.

TOKYO: Defence Minister Arun Jaitley has hinted that incentives are being worked out to encourage domestic manufacturing in the defence sector so as to cut imports of combat planes, ships and submarines.

In an interview to PTI, he said the government is working on a policy that will incentivise companies to set up manufacturing bases in India.

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