The country’s largest automobile maker Tata Motors Ltd (TML) has embarked on a massive restructuring of human resources (HR) that would transform the organisation into a much leaner one with a flat hierarchical structure. Effective April 1, the new structure would be in place.

From a 15-16 level hierarchy, the organisation is moving to a flat five-level hierarchy. Earlier, Tata Motors had three levels in the supervisory grade, five in the managerial grade and around six or seven in the executive grade. Now there would be five grades, L1 to L5, with L1 being the highest. Above these levels, there would be the executive directors, presidents and the managing director.

GVK-led Mumbai International Airport Limited and GMR Group, which run the country's busiest airports, today submitted financial bids for the Rs 16,000 crore Navi Mumbai international airport. Today was the last day for the bid submission after two extensions granted the City and Industrial and Development Corporation (CIDCO).

Bids were received on Monday afternoon, CIDCO officials said. MIAL has the right of first refusal and will be allowed to match the bid if it is 10% lower than competition.

New Delhi, Feb. 12: The government should be cautious with its plan to merge state-owned oil companies such as ONGC and IOC, analysts said.

They pointed out at the botched-up merger of Air India and Indian Airlines, which resulted in the national carrier looking for government support to survive.

Mumbai: India’s monthly oil demand fell the most since May 2003 as the government’s crackdown on high-value currency notes continued to reverberate through the country’s $2 trillion economy.

Fuel consumption fell 4.5% to 15.5 million tonnes in January from 16.2 million tonnes a year ago, the oil ministry’s Petroleum Planning and Analysis Cell said Friday. Diesel use, which accounts for about 40% of total fuel demand in India, dropped 7.8% to 5.8 million tonnes, the biggest decline since September. Petrol consumption fell the most since June.

Power Minister Piyush Goyal on Monday said that NTPC should not spend any more on renovation of plants which are older than 25 years. “The replacement of NTPC plants older than 25 years to cost Rs 4 crore/MW. NTPC should be allowed to sell surplus power to exchanges,” the minister told BTVi. Recently, NTPC decided to shut down old polluting power plants of capacity totalling roughly 11 GW and replace those with new ones which are highly efficient.

Idea Cellular shares tumbled today after posting its first ever quarterly loss as rival Reliance Jio’s entry forced it to cut tariffs, eroding margins.

Idea Cellular was trading down 3.5% at Rs 106.5, after opening at the day’s low of Rs 102, against the advance in the benchmark indices. BSE Sensex was trading firm at 28,450.42 points, up 0.41%.

Maruti Suzuki's key auto components supplier Subros has started supplying parts to Suzuki Motor's Gujarat plant, the supplier said in a notification to the National Stock Exchange.

"Subros Limited has started supplies to Suzuki Motor Gujarat Private Limited (SMG) from its Gujarat plant and is gearing up capacities to cater SMG both current and future requirements."

A day after demanding that 129 MLAs, staying in a private resort, should be released, Tamil Nadu's caretaker Chief Minister O. Panneerselvam will visit state secretariat on Monday afternoon.

Panneerselvam has said that the MLAs should be released and they should meet people in their respective constituencies to get a sense of the public mood.

Bank of Baroda (BoB), whose common equity tier I capital shrunk by Rs 3,517 crore in Q3 on re-interpretation of Reserve Bank of India (RBI) rules, will explore qualified institutional placement (QIP) to raise equity resources for growing business.

The common equity tier I capital (CET-I) in absolute terms declined sharply from Rs 39,632 crore at the end of the second quarter in September 2016 (10.09 per cent) to Rs 36,115 crore (9.28 per cent) at the end of December 2016. Overall, the capital adequacy ratio stood at 12.55 per cent at the end of Q3 of FY17, down from 12.94 per cent for Q2 FY17.

Finance Minister Arun Jaitley today said rural development holds the key for the growth of Indian economy and stressed that he has laid emphasis on the development of villages in the Budget so as to put the country among developed nations.

Addressing a gathering at Karnali village which he has adopted under the 'Sansad Adarsh Gram Yojna' as an MP from Gujarat in Rajya Sabha, Jaitley asserted that Indian economy is the fastest growing in the world.

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