National carrier Air India will receive Rs 1,800 crore as equity infusion in 2017-18 under the government's ongoing financial assistance and the amount is slightly higher than the allocation for this financial year.

The allocation has been made in the Union Budget for 2017-18, which was presented by Finance Minister Arun Jaitley on Wednesday.

Ashok Leyland Ltd (ALL) has reported an eight per cent growth in M&HCV sales in the month of January 2017 as against nine per cent drop in December 2016 sales.

The company has sold 12,056 units in January 2017 as compared to 11,208 units, in January 2016, an increase of eight per cent.

Mumbai: The Indian rupee strengthened further against the US dollar on Wednesday, after finance minister Arun Jaitley announced a fiscal deficit target that was in line with estimates. This is the sixth consecutive session when the rupee is trading higher.

At 12.32pm, the home currency was trading at 67.57, up 0.43% from its previous close of 67.87. The local currency opened at 67.61 a dollar, and touched a high of 67.57, a level last seen on 14 December 2016.

New Delhi: Government will move ahead with the listing of the railway public sector undertakings (PSUs)—Indian Railway Catering and Tourism Corp. (IRCTC), Indian Railway Construction Co. Ltd (IRCON) and Indian Railway Finance Corp. Ltd (IRFC)—and come out with a procedure for a time-bound listing of central public sector enterprise (CPSEs).

In his Budget speech on Wednesday, finance minister Arun Jaitley said the government will look at consolidation option for PSUs and a new CPSE exchange traded fund (ETF) in 2017-18.

San Francisco: Amazon.com Inc plans to invest $1.49 billion to build a large air cargo hub in northern Kentucky, state officials said on Tuesday, stoking expectations it may one day opt to directly compete with FedEx Corp and United Parcel Service Inc.

The world’s biggest online retailer has agreed to a 50-year lease for about 900 acres of property from Cincinnati/Northern Kentucky International Airport—close in size to the global hubs of top cargo airlines.

It has been three quarters since the knuckle rap from the Reserve Bank of India on asset quality and ICICI Bank Ltd’s grip on its bad loans is still slippery. The largest private sector lender reported a 17% increase in its gross non-performing assets (NPAs) for the December quarter and the bad loan ratios worsened, partly due to decelerating credit growth.

ICICI Bank’s gross NPA ratio jumped 1.09 percentage points sequentially to 7.91% for the quarter ended December while net NPA ratio rose to 4.35%.

The board of Infosys Ltd has inducted director D.N. Prahlad into the nomination and remuneration committee (NRC) that oversees the nomination process and the incentives and pay offered to its senior-most executives, including the chief executive.

Prahlad, a relative of Infosys founder N.R. Narayana Murthy, will now be one of the five members of the current NRC, according to two executives familiar with the development; the decision may make it more difficult for the management to award higher salaries to its senior executives.

Private sector Kotak Mahindra Bank today said the RBI has asked it to bring down its promoter shareholding by half to 15 per cent in a phased manner by March 31, 2020.

“The Bank has received a communication from the Reserve Bank of India to bring down its promoter shareholding to 30 per cent by June 30, 2017, 20 per cent by December 31, 2018 and 15 per cent by March 31, 2020,” Kotak Mahindra Bank said in a BSE filing.

Zee Digital Convergence’s live TV platform, dittoTV today said it has partnered with Idea Cellular for its flagship entertainment app Idea Movie Club to offer telecom operator’s subscribers access to a bouquet of over 90 live TV channels. “Through the partnership, Idea Cellular, the country’s third largest telecom operator, offers its subscribers a subscription of dittoTV bundled with its data recharges and Movie Club packs,” it said in a statement.

Indian benchmark indices opened on a cautious note ahead of the Union Budget 2016-17 due later today, waiting to watch the proposals which would set the course of the markets in the coming days.

BSE Sensex was trading up 0.12% at 27,689.77 points, and NSE Nifty was up 0.16% at 8,575 points, with most sectoral indices recording mild gains.

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