Home-grown auto major Tata Motors on Friday reported a 4.39 per cent decline in total sales in May at 38,361 units compared to 40,123 units in the same month last year.

Domestic sales of Tata Motors' commercial and passenger vehicles declined by 3.45 per cent to 34,461 units last month as compared to 35,695 units in May 2016, Tata Motors said in a statement.

German luxury car maker Mercedes Benz on Friday launched the all new E-Class 220 d sedan in India, priced at Rs 57.14 lakh (ex-showroom Pune).

The company also rolled out a new four-cylinder diesel engine, OM 654, manufactured at Mercedes Benz Chakan facility in Pune.

MUMBAI: Indian tycoon Anil Ambani, who controls Reliance Communications, is due to hold a media briefing on Friday in a bid to reassure investors after worries over the mobile carrier's heavy debt load rattled markets and triggered ratings downgrades.

A briefing would mark a rare appearance by Ambani, 57, reflecting the difficulties facing Reliance Communications, widely known as RCom, India's seventh-ranked telecoms carrier by customers. Ambani has a net worth of $2.7 billion, according to Forbes.

Mumbai: The government has directed State Bank of India (SBI) to find strategic investors for Asset Reconstruction Company (India) Ltd, or Arcil, noting its importance in the resolution of stressed assets, said two senior officials with the country’s largest lender. They spoke on the condition of anonymity because the discussions are private.

Kolkata-based Bharat Road Network, promoted by SREI Infrastructure, and Ahmedabad-based non-banking financial company MAS Financial Services have received the nod from the Securities and Exchange Board of India (SEBI) for their IPOs. Bharat Road Network had filed its draft red herring prospectus( DRHP) for an IPO on February 17, 2017. The company proposes to sell 2.93 crore shares.

NEW DELHI: Two-wheeler major Bajaj Auto today reported a 10 per cent decline in total vehicle sales in May at 3,13,756 units.

The company had sold 3,47,655 units in the same month last year.

Markets resumed their record-setting spree to hit fresh lifetime highs in opening trade today on sustained buying amid positive global cues.

BSE Sensex, which had lost 21.81 points in the past two sessions, bounced back by 194.97 points, or 0.62% to trade at 31,332.56, breaching its previous record high of 31,255.28 touched on May 31.

GMR Infrastructure gained over 17.4% to Rs 17.65 in intraday after it announced a significant reduction in debt and turned profitable in the March quarter.

According to the filing on BSE, gross debt for the company came down to Rs 19,856 crore in FY17 from Rs 37,480 crore last year whereas and net debt to EBITDA ratio for the year improved to 4.3 from 10.2 in FY16

Air India is planning to sell its properties and land parcels across the country. Civil aviation minister Ashok Gajapathi Raju met finance minister Arun Jaitley on Thursday to decide the process.

Sources privy to the discussions say the idea is to sell real estate assets in cities, airport locations, and airline offices at prime locations. A consultant will be appointed to make a detailed inventory report of the assets and fix a proper valuation for them. The entire process will be reviewed by a committee, which will comprise of secretary-level officials from the civil aviation ministry and finance ministry, people from Air India, and a retired judge.

Shares of TVS Motor Company surged over 5% to hit its 52-week high after the auto major posted a growth of 15.7% in sales during the month of May 2017, at 282,007 units as compared to 243,783 units sold during the month of May 2016.

The stock of the company rose as much as 5.5% to Rs 565 on the BSE. Over 1 lakh shares exchanged hands on the counter against its two-week average of 50,000 shares.

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