MUMBAI: The rupee edged higher by 7 paise to 66.52 against the dollar on Tuesday on increased selling of the American currency by exporters and banks ahead of RBI policy meet scheduled later in the day.

Forex dealers said a higher opening of the domestic equity market supported the rupee, but strength in the dollar against other currencies overseas backed by improving prospects of a US rate hike capped the gains.

Air India expects the 40-odd new airplanes it will induct over two years to help it regain the domestic market share it lost to private players.

The national carrier plans to order 10 Airbus 320s to increase capacity, in addition to the 30 it has ordered from the European plane maker. The airline plans to increase its fleet size by 30-40 in two to three years.

MUMBAI: The Sensex surged by over 159 points on Tuesday as interest-sensitive stocks took the centrestage ahead of RBI's announcement of its policy decision later in the day amid firm Asian cues.

The rupee gained more against the dollar, buoying the overall mood.

Mumbai: The Reserve Bank of India (RBI) on Tuesday announced a 25 basis points (bps) cut in repo rate as it believes that food inflation momentum has moderated and upside risks to the March inflation target are lower than at the time of the August policy.

The policy announcement underlines the central bank’s shifting priorities as it tries to prop up growth as inflation remains under control because of a normal monsoon.

New Delhi: India’s largest power generator, which is spearheading Prime Minister Narendra Modi’s ambitious clean-energy goals, is expanding its solar target and slowing down development of its coal-based plants on concerns that the cost of renewables will be cheaper than conventional energy.

NTPC Ltd. will expand its target of setting up 10-gigawatts of solar capacity, chairman Gurdeep Singh told Bloomberg in an interview. It will also support building of 15 gigawatts of solar capacity by buying power from producers and selling it to distribution companies.

US tech giant Microsoft is discontinuing its wearable fitness tracker called “Band” and the company has no plans to release “Band 3”.

“The Band 2 has been wiped completely from Microsoft’s online store and is no longer available from Best Buy either,” technology website The Verge reported on Tuesday.

Country's largest carmaker Maruti Suzuki India (MSI) said its premium hatchback Baleno has crossed one lakh cumulative sales milestone in the domestic market in less than one year of its launch.

The auto major had launched Baleno in India on October 26 last year. Besides domestic sales, the company has shipped out 33,800 units of the car to various markets across the globe, including Japan and Europe.

In an attempt to reiterate that its goal of becoming a $20 billion (Rs 1.33 lakh crore) firm is a target and not just an aspiration, software giant Infosys has its linked its chief executive, Vishal Sikka's annual compensation to the progress the company towards the goal, the chairman of its board said.

Sikka had earlier announced that the company has set a target of becoming a $20 billion firm with average revenue per employee of $80,000 and an opening margin of 30%, reported Mint.

In a bid to make primary markets more efficient, regulator Sebi is working towards cutting down the time taken for listing of companies on stock exchanges to four days from the current norm of six days.

Presently, it takes six days after the close of bidding in the initial public offer (IPO) for a company to list on stock exchanges, thus keeping the investors' funds locked in for a longer period of time.

HDFC Bank on Monday announced that it has selected software major Adobe's 'Marketing Cloud' platform to deliver personalised digital experiences to its 37 million customers.

HDFC Bank has developed a comprehensive e-mail marketing solution based on the Adobe platform that will span multiple outbound channels including email, SMS, social and mobile apps.

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