TVS Motor, the two-wheeler major, said it would close this financial year, 2016-17 (ending this month), with a 14.3 per cent market share, close to its target of 15 per cent.

Also, that it would launch a new motorcycle and scooter brand, and that it had plans to invest Rs 350 crore in the coming financial year.

Public sector BSNL today said that it would invest around Rs 100 crore to upgrade the existing 2G/3G mobile network in the Calcutta circle. CGM of BSNL (Calcutta Telephones) S P Tripathi said that the network upgradation would be mainly to increase data speed and adding that the existing technology was having limited data capacity.

Tripathi said that another 1,000 base transmitting stations (BTS) would be set up to improve signal availability across the Calcutta circle.

Marking its entry into the mid-segment smartphone category, domestic mobile manufacturing company Lava on Wednesday launched Z25 and Z10 smartphones at Rs 18,000 and Rs 11,500, respectively.

Lava Z25 sports 5.5-inch 2.5D-curved HD IPS display. The dual-sim device is powered by an Octacore processor, supported by 4GB and 32GB on-board memory with 3020 mAh (ATL) battery. The phone runs on Android Marshmallow 6.0 operating system.

New Delhi: The government on Tuesday proposed making Aadhaar, the unique number issued by the Unique Identification Authority of India, mandatory for filing of income-tax returns as well as for obtaining and retaining the permanent account number (PAN). It also proposed making cash transactions above Rs2 lakh illegal, reducing the limit from the earlier proposed one of Rs3 lakh, as per the official amendments to the finance bill 2017 moved by the government.

Mumbai/New Delhi: India’s government is likely to sell part of the stakes it holds in Axis Bank Ltd., ITC Ltd. and Larsen & Toubro Ltd. through an exchange-traded fund this year, people familiar with the matter said. Shares of the three companies fell.

The new ETF would be larger than the Central Public Sector Enterprises ETF, a fund unveiled in 2014 that’s made up of the government’s shares in state-owned companies, the people said, asking not to be identified as a final decision regarding size and timing of the latest sales hasn’t been made yet.

Coal India Ltd (CIL), which contributes 84 per cent of the country’s production, is likely to end the current fiscal with a shortfall against its annual production target for 2016-17, analysts and industry stakeholders say. They, however, predicted that the production and sales are expected to achieve “marginal growth” over the last fiscal. During 2016-17, the miner set a target of producing 598.61 million tonnes (mt) of coal with an 11.11 per cent growth over the 538.75 mt produced in 2015-16. Its sales were at 534.50 mt in the last fiscal.

“Coal India is expected to end the year with an around 550 million tonnes of production, thereby missing the annual target by 40-50 million tonnes.

State-owned Oil and Natural Gas Corp (ONGC) has sought a review of the natural gas pricing formula as rates have dropped below cost. India’s largest natural gas producer demanded a floor or minimum price of natural gas be fixed at USD 4.2 per million British thermal unit for the business to make economic sense. The BJP-led government in October 2014 had evolved a new pricing formula using rates prevelant in gas surplus nations like the US, Canada and Russia to determine rates in a net importing country. Prices have halved to USD 2.5 per mmBtu since the formula was implemented.

State-run Hudco has received capital markets regulator Sebi’s approval to raise funds through an initial share sale as part of the government’s disinvestment drive. Hudco had filed draft papers with the Securities and Exchange Boardof India (Sebi) in January and got the markets watchdog’s “observation” on March 10, which is necessary for any company to launch public offer. The initial public offer will comprise sale of 200,190,000 equity shares –10 per cent stake — by the central government through an offer for sale (OFS) route, as per the Draft Red Herring Prospectus (DRHP).

NEW DELHI: Hinduja group flagship Ashok Leyland is looking to strengthen presence in the country's logistics sector that is estimated to touch USD 370 billion by 2020.

The company is enhancing its range of fully built vehicles in order to tap the sector which is expected to grow at a CAGR of 16 per cent.

Finance Minister Arun Jaitley said he is hopeful of rolling out the biggest tax reform GST from July 1 which will make goods and services cheaper and tax evasion difficult.

The Finance Minister also said achieving a growth rate of 7-8 per cent is plausible and if economies pick up globally then the country's growth rate can go up further.

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