Hyundai Motor, the first automaker to mass-produce fuel-cell vehicles, plans to unveil a new hydrogen-powered SUV next year with longer driving range than rival offerings by Toyota Motor and Honda Motor as it attempts to reclaim leadership in the field.

South Korea’s largest automaker will show off the new model along with a new fuel-cell bus early next year during the Winter Olympic Games in Pyeongchang, Kim Sae-hoon, who oversees the technology at the Seoul-based automaker and affiliate Kia Motors, said in an interview.

Kotak Mahindra Bank on Thursday said it has received board approval to raise equity capital by issuing up to 62 million shares, which, according to the closing price of Rs 865 a share on Thursday on the BSE, amounted to Rs 5,363 crore.

The face value of the share would be Rs 5 each.

Thanks to aggressive acquisition of oil assets abroad, government-owned BPCL and ONGC are set to overtake Reliance Industries in overseas fundraising in 2016-17. Reliance was the topper among corporate India in raising funds during the past five years.

The change in the league tables comes against a backdrop of a slowdown in fundraising by Indian corporates during the year. Overseas fundraising by Indian companies slowed to $19.02 billion in 2016-17 from $21.06 billion in 2015-16.

With a view to populate NEXA and better target the premium buyers, Maruti Suzuki will now sell the Ciaz, its mid-sized sedan, from the premium sales network.

Ciaz will join the existing NEXA line-up of S-Cross, Baleno and Ignis from April 1.

Tata Motors isn’t first in the Indian automotive industry to sign a wage agreement with factory workers that is performance linked — it is a common practice in the two-wheeler industry — however, with the recent wage settlement at Pune, the company has definitely set a precedent for others. Experts feel this paves way for better industrial relations, and a younger workforce is likely to feel more aligned to such an approach.

On Tuesday, Tata Motors and the Pune Workers' Union, which covers around 6,400 employees, signed a wage settlement for three years effective September 1, 2015. It will be valid through August 31, 2018.

The Supreme Court's decision to disallow the sale and registration of BS-III vehicles from April 1 will not only impact auto makers but also other stakeholders, according to Vinod K Dasari, managing director of Ashok Leyland and president of Society of Indian Automobile Manufacturers (SIAM).

Dasari also said that companies will find ways and means to address the challenge, including looking at export markets and converting the vehicles to BS-IV. The latter could see the cost of the vehicles increase by 8-10 per cent.

Mumbai: Royal Dutch Shell Plc’s India unit and Bharat Petroleum Corp. Ltd (BPCL), the country’s second largest fuel retailer, may team up to help the latter set up an energy trading unit in Singapore, two officials aware of the development said.

A Singapore office has been in the works for BPCL to expand its global reach and participate in trading of crude oil, natural gas and energy derivatives, the two said on condition of anonymity.

More than 3,100 fresh foreign portfolio investors (FPIs) registered with capital markets regulator Sebi in the April-February period of the current fiscal, indicating that India remains an attractive destination.In comparison, about 2,900 FPIs had received approval from the Securities and Exchange Board of India (SEBI) in the entire last financial year (2015-16). The number of FPIs with Sebi’s approval rose to 7,428 at the end of February from 4,31 at the end of March 31. The number of FPIs with Sebi’s approval rose to 7,428 at the end of February from 4,31 at the end of March 31, 2016, reflecting an addition of 3,117 such investors, according to the latest data from SEBI.

Kotak Mahindra Bank’s board on Thursday approved raising capital by issuing 6.2 crore equity shares, amounting to about Rs 5,500 crore at the current market price, to facilitate pursuing acquisition opportunities, tap into the business of stressed assets and support the lender’s organic growth.

The company plans to raise the capital through rights issue, public issue or private placement, including QIP (Qualified Institutions Placement) or through any other permissible means, it said in a statement.

Microsoft Philanthropies today said it has contributed a total of over USD 10 Million towards community development in India during 2016. It said the contribution includes both cash and technology investments to transform the way nonprofits deliver impact in India, offer educational opportunities to empower the next generation and extend support during humanitarian crises. Globally, Microsoft Philanthropies has committed more than USD 650 million in 2016 and impacted lives of more than 15 million youth across 58 countries, it said in a release.

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