Diversified conglomerate ITC will be rolling out new product categories every quarter in perishable foods like fruits and vegetables, going forth. “There is a lot of work in process right now. Essentially, there are two vectors along which rollouts are going to happen.

First, new categories that require climate-controlled ecosystem will be launched, like fruits and vegetables. That will happen every quarter. Second, within existing categories, there would be value addition,” S Sivakumar, group head, agri and IT businesses, said.

Shashi Shanker will be the next Chairman and Managing Director of India's biggest oil and gas producer, ONGC.

Government headhunter Public Enterprise Selection Board (PESB) selected Shanker to head Oil and Natural Gas Corp (ONGC) from October 1.

Apollo Hospitals has tied up with biotechnology firm Regenerative Medical Services (RMS) to launch cell therapy for bone and cartilage defects. The companies, however, did not share the financial details of the partnership. The two cell therapy products – Ossron and Chondron – will address the unmet clinical needs in the bone and cartilage treatments respectively, the companies said. As part of the pact, the treatment will be made available across all Apollo Hospitals within next six months.

The Sensex recorded a significant recovery of 255 points to close at a new peak of 31,312 today and the Nifty reconquered the key 9,600, riding piggyback on GST headway and expectations of reforms by regulator Sebi. There was more of buying as investors saw NPA resolution gaining traction after the Reserve Bank asked lenders to initiate bankruptcy proceedings against large defaulters.

State Bank of India (SBI) has grown its market share in debit card spends over the last six months even as its nearest rivals have lost ground. The country’s biggest lender reported debit card transactions worth Rs 11,720.73 crore in April, notching up a share of over 31%, data from the Reserve Bank of India shows. In October, the share was a shade under 30%.

In contrast, large private sector lenders, HDFC Bank and ICICI Bank, saw their shares drop over the six-month period following the note ban in October.

The new-generation 2017 Hyundai Verna has been snapped testing camouflaged many times on Indian roads, revealing the exterior design as well as interior. The 2017 Hyundai Verna is speculated to be launched by the end of August, 2017 that will rival the likes of the Honda City, Maruti Suzuki Ciaz, etc. The new 2017 Hyundai Verna is expected to be priced slightly higher the current model

The upcoming sedan will be based on Hyundai's Fluidic Sculpture 2.0 architecture and is likely to share its design and styling with the Tuscon and the Elantra.

Shares of Lanco Infratech Ltd (Lanco) tanked 20 percent to a new record low of Rs. 1.88 on the BSE after the company’s confirmation on Saturday that the Reserve Bank of India (RBI) has directed the company’s lead lender, IDBI Bank, to initiate a corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016 (IBC).

Lanco is one of the 12 companies that the RBI has ordered banks to take to bankruptcy court in its efforts to cut India’s bad debts that have grown to Rs 9.63 lakh crore. According to the RBI, these 12 bad loan accounts make up 25%, i.e. Rs 2.5 lakh crore, of the Rs 9.63 lakh crore bad debts.

In a bid to curb benami transactions and bring in transparency, the Centre has asked all states and union territories to complete by August 14 the digitalisation of land records, mutation records, sale and purchase records since 1950 of immovable property including land.

This is necessary as the Centre through enacting of a law proposes to link Aadhaar numbers with the ownership of such properties. The Centre in its notification dated June 15 has said that the properties which are not linked to Aadhaar numbers will be considered for appropriate action under the Benami Transactions (Prohibition) Amendment Act 2016.

Larsen & Toubro (L&T) was up 1.4% to Rs 1,752 on the BSE in early morning trade after the company said its construction arm has won orders worth Rs 2,231 crore across various business segments.

The company’s building & factories business has bagged a turnkey order worth Rs 1,324 crore from Andhra Pradesh Township Infrastructure Development Corporation, for the construction of residential buildings in the West Godavari District of Andhra Pradesh.

From shrinking the in-flight magazine size to giving up allowances, employees of Air India are coming out with innovative suggestions to help their company to fight the debt burden. This comes as the government is considering privatising the state-owned air carrier.

A cabin crew member in charge of Air India said that he is willing to work for two months without pay, including flying allowance, layover allowance and special allowance when travelling abroad.

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