Air India, which has seen its operating loss fall consistently in the past few years, expects to post a "modest operating profit" for the just- concluded fiscal, Union Minister Mahesh Sharma said today.

The national carrier is implementing a turnaround plan under which it is to get an equity infusion of Rs 30,231 crore up to 2021 subject to achieving certain milestones as laid out in the plan.

Mumbai, April 25: The shares of Reliance Industries Ltd (RIL) today fell more than 2 per cent owing to apprehensions over higher capital expenditure and delay in the commercial launch of 4G services through Reliance Jio Infocomm.

On the BSE, the RIL shares finished with losses of 2.18 per cent, or Rs 22.60, at Rs 1,016.16.

Mumbai: The Securities and Exchange Board of India (Sebi) has sought an explanation from National Stock Exchange of India Ltd (NSE) on a report by a Sebi constituted expert panel which had recommended action against the bourse for violating norms of fair access, said two people familiar with the developments.

The Sebi technical advisory committee (TAC) in March had submitted its findings to Sebi that some traders on the exchange had unfair access to market data and trading systems.

New Delhi: Walt Disney’s latest live-action money-spinner The Jungle Book may have captured hearts worldwide but it is India, where the story originally belongs, that has sprung the biggest surprise for the film. The fantasy adventure crossed Rs.140 crore in box-office collections by its third week, released on about 1,640 screens in Hindi, Tamil and Telugu besides English. That makes it quite a feat for Hollywood movies, for which crossing the Rs.100 crore mark at the Indian box-office is a rarity.

State-run Oil and Natural Gas Corporation is likely to take a hit of around R3,000 crore on its profit after tax (PAT) in FY17 owing to the 20% reduction in domestic gas price for the April-September 2016 period, reports Siddhartha P Saikia in New Delhi. This is despite the company expecting a rise in its gas output by at least 2 billion cubic metres or 9% in the current fiscal year.

Although the record coal production by the state-run miner Coal India (CIL) has eased the fuel supply for most thermal power plants, many stations commissioned after 2009 allege that the CIL was still sticking to its earlier stance of providing only three-fourth of the annual contracted quantity.

Back in 2011, CIL had signed definitive fuel supply agreements (FSAs) with 78,000 MW of power plants but with a condition that said that public sector enterprise will only supply a fraction of total requirement till its production remained inadequate.

BENGALURU: In what maybe a sign of the escalating war for large deals, India's top outsourcing firms like Infosys and Wipro are increasingly more open to making large upfront payments while bidding for large deals that offer assured revenues. This comes at a time when India's $160-billion IT industry faces its slowest revenue growth in nearly a decade.

According to executives familiar with these plans, Indian outsourcing firms have traditionally stayed away from large deals (over $500 million) which include the takeover of customer assets including data centres or delivery centers.

Homegrown utility vehicles major Mahindra & Mahindra today launched a limited edition of its Scorpio starting at Rs 13.07 lakh (ex-showroom Mumbai without Octroi).

The limited edition Scorpio Adventure is based on the top-end model 'S10' of the new generation Scorpio and only 1,000 vehicles will be produced, the company said in a statement.

The benchmark BSE Sensex tanked about 130 points in early trade on continued selling by participants, tracking losses in Asian shares.

Caution ahead of expiry of April contracts in the derivatives segment on Thursday also influenced sentiment.

South Korea's Hyundai Motor posted its ninth straight quarterly profit drop as it trailed rivals in tapping soaring demand for sport utility vehicles (SUV) in China, its biggest market.

Hyundai's strength in smaller, fuel-efficient sedans helped the automaker outperform the industry during the global economic downturn, but has left it reeling from a consumer shift to gas-guzzling sport utility vehicles (SUVs) in recent years, driven by a slump in the price of oil.

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