Moody's Investors Service has downgraded Reliance Communications' corporate family rating and senior secured bond rating on account of weak performance and "fragile" liquidity position.

Allaying concerns, the Anil Ambani-led Reliance Group company today said that it has told lenders that it would repay Rs 25,000 crore before September 30 this year post completion of its three different deals.

Tata Consultancy Services, India's largest IT firm, offered a more than 31 per cent hike in remuneration to its key managers at a time when the rest of the company's employees received average salary increase of around 10 per cent.

The IT services major declared its the performance-based hike in remuneration for the last financial year, the firm said in in its annual report for fiscal 2017.

Air India’s performance has improved in the past two years but it has failed to meet critical targets set in a turnaround plan drawn up by the government.

The airline has principally failed to meet its target of bringing down the net loss to Rs 2,369 crore in 2016-17. The government in 2012 provided the airline a Rs 30,000 crore bailout on condition that it will meet specified operational milestones.

Shares and bonds of the Anil Ambani-led Reliance Communications (RCom) continued to tumble on Monday, amid concern around mounting debt and ability to service the loans, given the competitive pressure in telecom.

Shares of RCom dropped as much as 24 per cent to hit an intra-day low of Rs 19.7. It recovered marginally to end at Rs 20.5, down Rs 5.3 or 20.5 per cent on the BSE.

Mumbai: The Securities and Exchange Board of India (Sebi) has raised concerns about Multi Commodity Exchange Ltd’s (MCX) disaster recovery (DR) site being located in the same seismic zone, Mumbai, where trading on the bourse takes place, two people with direct knowledge of the matter said.

The DR site is the Gujarat International Finance Technical Tec-City (GIFT), which falls in the same seismic zone.

New Delhi: The World Bank on Monday said the government’s November decision to withdraw high-value currency notes may have a disproportionately high impact on the poor and vulnerable while its decision to implement the goods and services tax (GST) will be equitable without any negative impact on the poor.

“Demonetization affected poor and vulnerable households, in all likelihood having an impact on construction and informal retail, where many poor and vulnerable individuals work.

Snapping its record-setting spree, the benchmark BSE Sensex fell over 41 points in early trade today as participants locked-in gains at current levels amid disappointing quarterly earnings.

Besides, absence of cues too negatively impacted trading sentiments as most of other Asian markets are shut.

Engineering giant Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 5,146 crore across business segments. “The construction arm of L&T has won orders worth Rs 5,146 crore various business segments,” the infrastructure major said in a BSE filing.

L&T said its power transmission and distribution business bagged orders worth Rs 2,780 crore in the domestic and international market.

NEW DELHI: The CBI has initiated investigations into key decisions made on Air India when the United Progressive Alliance was in power, including the merger of Air India and Indian Airlines, purchase of 111aircraft by the national carrier and giving away of profitable routes to rival airlines.

The agency filed two cases on the aircraft purchase deal, another on giving away the routes and started a preliminary inquiry into the merger of the airlines. In a statement, the CBI said it started the probe following orders from the Supreme Court. Air India had put an order for 111aircraft — 68 from Boeing and the balance from Airbus.

Oil and Natural Gas Corporation's (ONGC's) onshore crude oil domestic production witnessed an increase of 2.4% during last fiscal, after falling for three consecutive years.

Onshore production rose to 5.97 million metric tonne (mmt) during FY17 from 5.82 mmt a year ago. The reversal has happened on account of early monetization of discoveries at Ankleshwar, Cauvery (Madnam) and Rajahmundry (Keshnapalli West), among others, shows the latest data available with the oil and gas major.

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