Last week, ET reported that the big three US carmakers— General Motors, Ford Motor and Fiat Chrysler Automobiles (a US-Europe combine) — will push back on investments or review strategy in India. Long-time watchers of the Indian automobile industry were hardly surprised by the turn of events. Ford and GM have faced fluctuating fortunes while Chrysler after delaying entry into India twice in the past, is finally entering.

MUMBAI: Reserve Bank has allowed foreign investors to hike their stake in Hindustan Petroleum Corp to up to 40 per cent under portfolio investment scheme (PIS).

"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24 per cent up to 40 per cent of the paid up capital of Hindustan Petroleum Corporation Ltd (HPCL) under PIS," an RBI notification said today.

Mercedes-Benz is planning its own distinct line of electric vehicles, challenging BMW and Tesla Motors in a bet that alternative-fuel cars have the potential to become profitable.

Mercedes will add two electric sport utility vehicles and two sedans, according to two people familiar with the plan, who asked not to be named because the details haven't been disclosed. Mercedes will create a new sub-brand for the cars, though a name hasn't been chosen yet, one of the people said. Chief Executive Officer Dieter Zetsche said in June that the company planned to unveil an electric car at the Paris motor show in September.

Tata Motors shares rallied over 3 per cent on Friday after its subsidiary – Jaguar Land Rover (JLR) posted its best ever July retails sales by registering a 34 per cent year-on-year jump at 44,486 units. JLR said that strong sales of the Land Rover Discovery Sport, the Jaguar XE and the F-PACE contributed to the impressive sales number. The company’s China retail sales were up 64%, whereas North America sales rose 51% YoY. Europe and UK retail sales grew 24% and 38% year-on-year, respectively.

Software major Infosys has sought the Union government's approval to set up an IT special economic zone (SEZ) in West Bengal.

The company's application will be considered by the inter-ministerial body, Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, in its meeting on August 12.

The Security and Exchange Board of India (Sebi) is maintaining a constant vigil to check any market manipulation by banned stock brokers, Parliament was informed on Friday.

The Sebi maintains a constant vigil, and in case of any abnormality, takes appropriate action against the concerned entities, Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.

Hyundai Motor India Ltd on Friday said it will increase prices by up to Rs 15,000 across models from August 16 to offset rising input costs and impact of rupee depreciation.

"The rupee depreciation and the increase in input costs have impacted our overall cost. We have been absorbing most of the cost. Now, we have been compelled to increase prices," Hyundai Motor India Ltd (HMIL) Senior Vice-President (sales & marketing) Rakesh Srivastava told PTI.

Delivery by drone or self-driving trucks may not be here any time soon for Amazon.com.

But the e-commerce juggernaut plans to launch its first ever branded cargo plane, the Amazon One, at Seattle’s SeaFair Air Show on Friday.

The plane is a a Boeing 767-300 operated by Atlas Air, an existing provider of air cargo services for Amazon.com.

New Delhi: State-run NTPC Ltd., India’s biggest power producer, is seeking to terminate a long-term supply contract for imported natural gas as it says the fuel is too expensive to be used in power generation, according to people with knowledge of the situation.

The New Delhi-based electricity generator has written to state-run GAIL India Ltd., which supplies the fuel sourced overseas by its affiliate Petronet LNG Ltd., saying it’s become impossible to execute the contract as the company is unable to sell the power it generates from the fuel, officials from all three companies said who asked not to be identified, citing policy.

India will be more appealing to Chinese firms after the clearance of much awaited Goods and Services Tax Bill in the upper house of Parliament, a state-run daily said on Friday.

An op-ed piece in Global Times said China was willing to work with India to make GST Bill a “reality”.

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