Indian Oil Corporation Ltd (IOCL) has signed an agreement with 3M India Ltd for setting up 3M auto care centres at Indian Oil retail outlets (ROs). 3M is a US-based multinational company in the top 100 of Fortune 500 list of companies and has a diversified range of products from adhesives & laminates to car and bike detailing services.

“In our relentless efforts to provide value added services to customers, the auto care centres will not only provide car/bike detailing services but would also sell vehicle care products such as sun films, polish, wax, car shampoo, treatment for the exterior, interior and under-chassis rust protection, among other products and services,” said IOCL in a press release.

Mumbai: The Reserve Bank of India (RBI) has allowed banks to classify bonds issued by state governments as part of the Ujwal Discom Assurance Yojana (UDAY) scheme under the held-to-maturity (HTM) category, two people familiar with the development said.

RBI had in a recent letter to the treasury departments of banks said that bonds issued to retire debt given to power distribution companies (discoms) can go to the HTM portfolio of the banks, said a public sector banker, one of the two persons quoted above.

New Delhi: The telecom regulator will submit comprehensive recommendations on Net neutrality to the government by June, chairman R.S. Sharma said.

Since the Telecom Regulatory Authority of India (Trai) has already tackled the tariff aspect of Net neutrality by prohibiting differential tariff services such as Airtel Zero and Facebook Inc.’s Free Basics, the next set of recommendations will be about non-tariff aspects such as selective speeding up or throttling of access to websites or services.

India's largest IT services provider Tata Consultancy Services (TCS) has been saying that digital is default, but yesterday it told analysts that 52 per cent of its clients are engaged in digital technologies and a number of them have chosen TCS as a partner of choice. TCS also reiterated that the market for their services is still under-penetrated.

TCS management meets analysts before its fourth quarter results to give an update on its digital capabilities. Digital revenue for the company has already touched $2 billion for CY2015.

Microsoft has added new features and made a series of tweaks to its Windows 10 Maps app gifting users better search and driving interface.

Users of the updated version of the app will be able to view multiple search results on the same map, follow redesigned turn-by-turn instructions when driving, and see favourite spots offline, among other smaller changes, The Verge reported on Thursday.

The BSE Sensex climbed over 100 points to 24,778.98 in early trade on Friday, with increased buying by participants leading to across-the-board gains amid sustained inflows by foreign funds and positive global cues.

Furthermore, a strengthening rupee which surged to trade at over two-month high of 66.55 against the dollar at the forex market in early trade on Friday too buoyed the trading sentiments.

Tata Motors’ newly appointed chief Guenter Butschek today said the company will undertake a transformation exercise, which would include a relook at brand positioning, revamping products and increasing its global footprint, in order to be “future ready”.

“Tata Motors will undergo a major transformation process in order to get future ready…We would like to effectively review the entire setup of Tata Motors as far as its structure is concerned, as far as the processes are concerned and when it comes to manufacturing, as far as the equipment and tools are concerned,” he told reporters in his maiden media interaction.

Securities and Exchange Board of India (Sebi) has approved IRB Infrastructure Developers’ application for Infrastructure Investment Trust (InvIT), paving the way for launch of India’s first such instrument.

In a notice sent to stock exchanges, Mumbai-based road developer said, “Sebi has granted the certificate of registration in terms of Regulation 6 of Sebi (Infrastructure Investment Trusts) Regulations, 2014 (Regulations) to IRB InvIT Fund to which the company is a sponsor”.

Advocating selective stock-picking in the banking sector amid current uncertainty over rising non-performing loans, ICICIdirect.com has advised investors to stick to shares of strong banks including HDFC and IndusInd Bank. The brokerage house has said other banks shares that can be bought are State Bank of India, Axis Bank and City Union Bank.

On government-owned banks, a ICICIdirect.com report said “entering PSU banks at current levels would not be a prudent strategy despite them seeming to be available at cheap valuations.

India’s largest realty firm, DLF, on Thursday sold its shopping mall at Saket in New Delhi to its wholly-owned subsidiary for Rs 904.5 crore, as part of a strategy to consolidate and monetise rental assets.

DLF said the board of directors had “approved sale of ‘DLF Place Saket’, a shopping mall, having a built-up area of 5,16,000 sq ft along with land parcel... to Nambi Buildwell Pvt Ltd, a wholly-owned subsidiary of the company on an arm’s length basis”.

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