Tata Motors on Wednesday said it will supply 25 hybrid electric buses to the Mumbai Metropolitan Region Development Authority (MMRDA).

The contract to supply Tata Starbus Diesel Series Hybrid Electric Bus with full low floor configuration is the single largest order awarded for hybrid electric vehicle technology, Tata Motors said in a statement.

Shares of oil marketing companies such as Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) gained on Tuesday after Credit Suisse maintained its “outperform” rating on fuel retailers, citing refining margins to remain strong for oil retailers as demand-supply tightens.

BPCL, IOC and HPCL closed 0.97 per cent, 2.10 per cent and 2.53 per cent higher at Rs 810.60, Rs 392.95 and Rs 740.40, respectively.

Infrastructure firm Larsen & Toubro (L&T) said Tuesday its construction arm has bagged orders worth Rs 1,672 crore across various business verticals.

The company's construction arm "has won orders worth Rs 1,672 crore", it said in a BSE filing.

Hyundai Motor India, the country’s largest auto exporter and the second largest car manufacturer, has said ITA SUV Creta touched 1 lakh bookings, 5 lakh enquiries and 56,000 units delivered.

This was achieved in eight months time since its World Premiere in India on July 23, 2015.

NEW DELHI: Coal India's measures to prevent theft by electronically "fencing" mining areas and fitting trucks with a GPS-based tracking system will be finished by the end of April, a government official said.

As much as a fifth of the state-run company's annual output is stolen, costing it up to $1 billion each year and feeding a huge black market in the fuel.

Mumbai: The Securities and Exchange Board of India, or Sebi, on Monday suggested two ways to clear ambiguities in the definition of “control” in a listed firm, a move primarily aimed at making mergers and acquisitions smoother and free of legal hassles.

The market regulator proposed in a discussion paper that to make the definition of “control” clearer, one of the options could be to amend the framework of protective rights and exclude certain business decisions by an entity in the listed firm from the ambit of “control” definition.

Wipro Ltd’s chief executive officer (CEO) Abidali Neemuchwala has set an ambitious revenue growth target of 12-14% for fiscal 2017, according to two executives familiar with the matter.

That is more than three times the growth at India’s third largest software services exporter in the current year.

With improvement in its financial health on the back of lower jet fuel prices and increased aircraft utilisation, Air India is planning to expand its operations, both in the international and domestic network.

A senior official of the airline told FE that a direct flight between Washington and New Delhi will start by July, while a new flight to London – Delhi and Ahmedabad is also on the verge of starting operations to utilise the fourth slot at the Heathrow airport.

State-run oil companies including ONGC Videsh (OVL), Indian Oil Corporation (IOC), Oil India (OIL) and Bharat PetroResources (BPRL) are set to clinch deals worth $2 billion with Russia’s Rosneft on Wednesday for acquiring hydrocarbon assets. Rosneft’s chief executive Igor Sechin will arrive in New Delhi Tuesday afternoon for this purpose.

In one of the deals, IOC, OIL and BPRL would acquire up to 30% stake in the Taas-Yuryakh oil and gas fields in East Siberia, an official privy to the development told FE.

The Kotak Mahindra Group and Canada Pension Plan Investment Board (CPPIB) on Monday announced a $525-million fund, joining the growing tribe of stressed assets players in India. Senior executives said the fund, to be called Kotak Special Situations Credit Fund, would have a mandate to invest in bank non-performing assets (NPAs) as well as structured debt extended to companies directly.

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