Competition Commission today imposed a penalty of Rs 87 crore on Hyundai Motor India for unfair business practices with respect to providing discounts for passenger cars. Besides, the company has been directed to cease and desist from such anti-competitive practices. In a 44-page order, the regulator said the company’s anti-competitive conduct include putting in place arrangements that resulted in resale price maintenance by way of monitoring of maximum permissible discount level. This was done through discount control and penalty mechanisms for non-compliance of the discount scheme, it added.

KOLKATA: Top telecom operator Bharti Airtel in April added more active subscribers than Reliance Jio Infocomm for the first time since the latter's launch in September, said analysts who cautioned that the 4G entrant may continue to face challenges in user additions.

The Sunil Mittal telco notched up 2.6 million active subscribers, according to visitor location register or VLR, in April compared to Mukesh Ambani-owned Jio's 400,000 active (VLR) customer adds, said brokerage Goldman Sachs, analysing Telecom Regulatory Authority of India data. Visitor location register is a key metric indicating the number of subscribers actively using mobile services.

The Public Works Department (PWD) of the Delhi government has slapped a fine of Rs 27 lakh on the AAP for 'unauthorised occupation' of a bungalow in Rouse Avenue here.

The PWD has issued a notice to AAP national secretary Pankaj Gupta over its continued occupation of 206, Rouse Avenue as party office.

The Securities and Exchange Board of India (Sebi) will complete its investigation into complaints against Financial Technologies India Limited (FTIL, now 63 Moons) and several other entities associated with it by the end of next month.

In an order passed earlier this week, the bench of RM Sawant and Sadhana S Jadhav of the Bombay High Court said that the market regulator has agreed to complete the investigation "latest by 31/07/2017" and submit the findings to the court in the next hearing. The regulator has also submitted another report in a sealed cover to the court in compliance with its directions in December.

State-owned oil firms IOC, BPCL and HPCL on Wednesday signed an agreement to jointly set up India's biggest refinery at Ratnagiri district of Maharashtra at a cost of $30 billion or Rs two lakh crore.

Indian Oil Corp (IOC) will be the lead partner with 50 per cent stake while Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will take 25 per cent stake each.

State-run power giant NTPC has awarded Mine Developer-cum-Operator (MDO) contract for its Dulanga coal mine in Odisha, as part of its plan to produce 3 million tonnes of the dry fuel this fiscal.

NTPC made a debut in coal mining during the last fiscal.

London: A deadly night-time fire raced through a 24-story apartment tower in London early Wednesday, killing at least six people and injuring dozens more. Some desperate residents threw their children from high windows, hoping someone on the ground would catch them.

Police commander Stuart Cundy said there were six confirmed fatalities, adding that the figure was likely to rise “during what will be a complex recovery operation over a number of days.”

With petrol and diesel prices set to change on a daily basis across the entire country from 16 June, oil companies have made provisions for consumers to check the revised rate of fuels through various methods, such as LED screens at petrol pumps, toll-free number, social media posts, price revision alert on app as well as SMS facility.

The state-run oil marketing company Indian Oil Corporation Ltd., (IOC) said that for the convenience of customers, every petrol pump will now have its dealer’s code prominently displayed, to allow consumers to verify prices through SMS.

The Sensex washed out initial gains and the NSE dropped below 9,600 in the late morning trade on Wednesday on account of selling pressure, mainly in the metal counter.

The 30-share gauge resumed higher before dropping to 31,079 at 1209 hours, down 24.49 points, or 0.08%.

German luxury car maker Mercedes- Benz on launched two SUVs -- Mercedes-AMG G 63 'Edition 463' and Mercedes-AMG GLS 63 priced at Rs 2.17 crore and Rs 1.58 crore (ex-showroom Pune), respectively.

The launch boosts the company's presence in the performance SUV segment and takes Mercedes-Benz's SUV portfolio to eight products, Mercedes-Benz India said in a statement.

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