The final trading session of the financial year 2015-16 began on a positive note on Thursday with the benchmark BSE Sensex rising over 100 points to 25,441.97 on sustained buying by investors and foreign funds amid mixed global cues.

Besides, short-covering by speculators in view of March monthly expiry in the futures and options space supported the upside. Thursday is the last trading session of March contracts in the derivatives segment.

Oil and Natural Gas Corporation (ONGC) has found hydrocarbon (gas) deposits at Meidum area in Mizoram-Assam border Kolasib district, state Industries Minister H Rohluna today said in the state assembly.

Replying to a query from Lalrinawma of the Mizo National Front (MNF), Rohluna said that the Oil exploration companies have been conducting tests on the gas found while drilling and hydro-fracturing have been conducted to find out whether more deposits were available.

State-run power equipment maker BHEL has commissioned first 250 Mw unit at coal-based Nabinagar thermal power plant of Bhartiya Rail Bijlee Company Ltd in Aurangabad district of Bihar.

"The 250 MW unit has been commissioned at the upcoming, greenfield 1,000 Mw Nabinagar Thermal Power Project (4x250 MW), being set up by Bhartiya Rail Bijlee Company Ltd (BRBCL), a joint venture of NTPC Limited and the Indian Railways," BHEL said in a statement on Wednesday.

Private sector Axis Bank is using an online gamification competition to generate ideas for the smart cities for the government and also will implement the winning idea via the Axis Bank Foundation.

Based on the implementation of the ideas, the Bank will take a call on whether to continue with this theme or look at other emerging areas as well.

NEW DELHI: Mercedes-Benz followed their 15 in '15 strategy last year by launching 15 new models in India. The German car manufacturer is equally upbeat about 2016 and have promised 12 new cars to - one for each month. Following the launch of the GLE 450 AMG Coupe and the E-Class Edition E, Mercedes-Benz has launched another variant of its flagship sedan, the S-Class. The Mercedes-Benz S400 has been launched at Rs 1.31 crore ex-showroom Delhi.

MUMBAI: The benchmark BSE Sensex regained the 25,000-mark by surging over 217 points in early trade on Wednesday on the back of a rally in realty, healthcare, auto and capital goods sector stocks amid a firming trend overseas.

Besides, the 50-share NSE Nifty reclaimed the 7,600-level by gaining 68.40 points, or 0.90 per cent, at 7,665.40.

India’s e-commerce space might be about to get a shake-up after the government appeared to open the door to overseas entities owning majority stakes in domestic internet commerce firms.

An announcement from India’s Department of Industrial Policy and Promotion (DIPP) yesterday updated the country’s foreign direct investment (FDI) regulations to allow 100 percent FDI in B2C e-commerce. That potentially opens the floodgates for global retail players like Walmart, eBay and Alibaba to buy up e-commerce players in India and stake their claim to the country’s $10 billion market, which is forecast to grow ten-fold to $100 billion by 2020.

The making of the much-awaited Fighting Infantry Combat Vehicles (FICV) will be a game-changing lift for the defence business of Tata Motors Ltd, according to Vernon Noronha, vice-president, defence and government business of India’s largest auto maker by sales.

In an interview at the DefExpo 2016 on Wednesday, Noronha said, irrespective of winning orders from the ministry of defence, Tata Motors is now contemplating to export FICV as there are at least 50,000 combat vehicles in the world that are facing replacement.

Private explorer Reliance Industries (RIL) is targeting to start production of coal bed methane (CBM) from its Sohagpur (West) block in Madhya Pradesh during April-June FY17. This would mark the entry of the Mukesh Ambani firm into drilling gas from coal seams, a business that is still lagging behind in the country.

“RIL plans to put on stream the first set of wells between April 8 and April 14,” sources privy to the development told FE. Unlike conventional natural gas, CBM production is tricky and would take about six to eight weeks for the fuel to hit the customer, the source added.

We met senior management of Coal India (CIL) to know more about the steps the company is taking to tackle the impending wage hike and meet its sales target. CIL is confident of mitigating effects of the impending wage hike and increase in clean energy cess. It has maintained its production target of 598 million tonnes for FY17. CIL is targeting to reduce costs by 5% every year primarily through manpower cost rationalisation and enhancing operating and supply chain efficiencies.

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