NEW DELHI: State-owned power giant NTPC's joint venture BIFPCL has tied up funds to the tune of USD 1.6 billion to set up 1,320-mw Maitree Super Thermal Power Project in Bangladesh.

"We wish to inform that Bangladesh India Friendship Power Company (Pvt) (BIFPCL) achieved financial closure on April 10, 2017, to set up 1,320 mw (2x660 mw) coal based Maitree Super Thermal Power Project at Rampal in Bagerhat district of Khulna division, Bangladesh," NTPC said in a BSE filing today.

The BSE benchmark Sensex recovered 155 points to quote at 29,787 in post noon trade as fresh buying by investors led to widespread gains ahead of the earnings season.

Domestic bourses bucked the weak trend witnessed in most of the Asian markets.

German luxury car maker Mercedes Benz on Tuesday reported its best ever quarterly sales in India at 3,650 units, although just a marginal increase from the year-ago period.

The sales growth in January-March period this calendar year has been driven by the E-Class sedan and SUV portfolio led by GLC, Mercedes Benz India said.

Korean automaker Hyundai will launch its compact sedan Xcent on April 20. The 2017 Xcent will be a cosmetic upgrade of the old model, much like what the Grand i10 received in February, according to a report published in The Hindustan Times.

So while the 2017 Xcent will get a face of the new Grand i10, the rear will receive more than just more curves. Reports said the tail lamp will be a bigger, two-part cluster, and the bumper will be entirely revised.

National Association of Software and Services Companies (Nasscom), India's IT services trade group, spent $440,000, or about Rs 2.8 crore, in 2016 to lobby with the US Congress, making it the highest spending in the decade and a half period during which the body began pushing its case for a more liberalised visa regime for Indian software workers.

Till 2003, Indian IT services firms had little restrictions with regard to using the visa regime to send engineers to work on projects to help US firms cut costs and improve efficiency as they transitioned to a digital economy.

Tata Motors on Sunday reported about nine per cent rise in global sales in March at 1,29,951 units, including that of Jaguar Land Rover (JLR) vehicles.

The company had sold 1,18,750 units in March 2016, Tata Motors said in a statement.

New Delhi: BMW Motorrad, the two-wheeler arm of German carmaker Bayerische Motoren Werke AG (BMW), has officially started operations in India. It was earlier operating in India with importers that had stores in Mumbai and New Delhi.

“We see a tremendous potential in this country and we are pleased to introduce BMW Motorrad as a part of the Indian subsidiary of BMW Group,” Dimitris Raptis, head of region (Asia, China, Pacific, South Africa) for BMW Motorrad said in a statement.

Engineering conglomerate Larsen & Toubro’s construction arm has secured its single-biggest order worth Rs 5,250 crore from Qatar General Electricity and Water Corporation for power transmission and network expansion. “The power transmission and distribution business of L&T Construction has won its single-largest order from its esteemed customer Kahramaa, Qatar General Electricity and Water Corporation for its ongoing Qatar electricity transmission and network expansion,” the company said in a BSE filing today.

Global technology major Nokia and India’s leading network service provider Airtel along with state-owned network BSNL have announced that they have planned a strategy to reach the network evolution to 5G services introduce a fast internet ecosystem in the country. Earlier in March Nokia had announced the partnership with an aim to prepare 5G networks in India. According to a report in ET, an MOU has been signed between the companies.

Indian Oil Corp Ltd rose as much as 4.17% to its record high of Rs 413.80 on the BSE today, extending its gains from Friday. On Friday, IOC shares were up 3.55%, riding high on the back of news about the companies contemplating daily revision of retail fuel prices.

Shares of other state-owned oil marketing companies Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd had also risen significantly on Friday, based on the same sentiments that caused IOC shares to jump.

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