Plans by India’s coal monopoly to buy billions of dollars of new machinery and outsource work are facing resistance from powerful unions worried about job losses, in a potential blow to Prime Minister Narendra Modi’s promise to bring electricity to all.

State-run Coal India Ltd, the world’s biggest coal miner, has already doubled output growth since Modi came to power two years ago, owing to the removal of hurdles to production like environmental clearances and land acquisition.

HYDERABAD: Engineering giant Larsen and Toubro and the Telangana government could be headed for another faceoff over execution of the Rs 16,375-crore metro rail project in Hyderabad.

L&T Metro Rail, which has suffered time and cost overruns, both before and after the formation of Telangana, has a July 2017 deadline for completing the 72-km metro rail project which will crisscross Hyderabad in three corridors.

Market benchmark Sensex rebounded over 166 points in early trade on Tuesday on value-buying by investors in select bluechips amid a recovery in Asian markets.

The 30-share index was trading higher by 166.41 points or 0.65% to 25,603.38 with all the sectoral indices led by auto and capital goods leading the recovery.

Capital markets watchdog Sebi on Monday cancelled the registration of Deutsche Mutual Fund following the transfer of its schemes to DHFL Pramerica Mutual Fund.

The Indian asset management business of Deutsche Mutual Fund has been acquired by Pramerica MF.

Shares of Tata Motors gained over 3% after the company reported a 9.9% growth in sales at 39,763 units in April against 36,190 units during the same month last year.

After a positive opening, the shares of the company climbed 3.57% to Rs 421.85 on the BSE. At the National Stock Exchange (NSE), it rose by 3.5% to Rs 422.

Independent MP and liquor baron Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, resigned from Rajya Sabha on Monday, a day before Ethics Committee of the Upper House was set to recommend his expulsion.

In his resignation letter to Rajya Sabha Chairman Hamid Ansari, he said he does not want his "name and reputation to be further dragged in the mud".

Pune-based two and three-wheeler maker Bajaj Auto has regained the number 3 spot, displacing Chennai-based TVS Motors after a gap of nearly 24 months.

Powered by new model launches in recent months — such as Avenger and V15 (promoted by INS Vikrant) — Bajaj's all-motorcycle line-up beat TVS Motors in April sales, which has motorcycles, scooters and mopeds in its line-up.

State Bank of India (SBI), the country’s largest lender, has reduced by five basis points its marginal cost of funds-based lending rate (MCLR), the new benchmark to which the pricing of loans are linked.

The reduction has been done across all maturities and now the overnight MCLR stands at 8.90 per cent. With this revision, home loans have also become cheaper. Now, the rate of interest for women borrowers stands at 9.35 per cent whereas other borrowers will be charged 9.40 per cent. The new rates came into effect from May 1.

To finance its various projects, National Highways Authority of India (NHAI) plans to raise Rs 55,000 crore through bonds this fiscal.

"NHAI plans to raise Rs 5,000 crore through capital gains bonds and Rs 50,000 crore through taxable bonds or other similar instruments," Minister of State for Road Transport and Highways Pon Radhakrishnan told Rajya Sabha in a written reply on Monday.

State-run NTPC Ltd's bond issue was oversubscribed 2.8 times in just 10 minutes today after hitting the market, raising a total of Rs 1,000 crore, which would be used for capital expenditure.

"NTPC's bond issue oversubscribed by 2.8 times in 10 minutes today," the company said in a statement.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.