Global online retail giant Amazon has invested Rs 1,696 crore into its India unit as part of its planned $2 billion (approximately Rs 13,500 crore) investment over the next few years in the country to take on homegrown rivals Flipkart and Snapdeal.

The investment comes at a time when the company is engaged in a battle with the Karnataka government over taxation issues. The ongoing case has restricted Amazon from growing its presence in the state, one of the key markets for online retail in India.

MUMBAI: In the world of mean machines, the love for diesel is slowly waning. Chrysler is considering adding a petrol variant to its India plan for the Jeep Wrangler, while Jaguar Land Rover, the big three German luxury-vehicle makers and Volvo are boosting their petrol portfolio.

The new thinking among the top makers of sport-utility vehicles (SUVs) and luxury cars is triggered by the curbs imposed on diesel by the Supreme Court.

New Delhi: Prime Minister Narendra Modi on Saturday released some 100 files relating to Netaji Subhas Chandra Bose in the public domain, the freedom icon who created the Indian National Army to throw off the shackles of British colonial rule in India.

The declassification of the documents is widely expected to reveal the truth behind the disappearance of Bose seven decades ago.

TVS Motor Company has introduced two new bikes — 110cc Victor and 200cc Apache — aimed at strengthening its presence in the commuter and performance segments.

“We are launching these two significant bikes that are designed to get us significantly improved market share in motorcycle segment. We have spent about Rs.300 crore in developing the two bikes. Our products will meet not just Indian standards, but also global standards,” Venu Srinivasan, Chairman, TVS Motor Company said after unveiling the new bikes.

The country’s fourth largest mobile operator by subscribers and revenues, the Anil Ambani-led Reliance Communications on Friday said its net profit during the October-December period stood at Rs 171 crore, up 9.6% compared to the preceding quarter, helped by an uptick in subscription and usage for its high margin internet-services, and a better performance at its global operations.

Engineering and construction giant Larsen & Toubro (L&T) today said its consortium with Sojitz Corp of Japan has won a Rs 1,213 crore project from Dedicated Freight Corridor Corporation of India Ltd (DFCCIL).

“The Railways Unit, a part of the transportation infrastructure business of L&T Construction, has won a major order worth Rs 1,213 crore from the DFCCIL,” it said in a statement.

Standard & Poor’s today affirmed its ratings on ONGC, saying it reflects the company’s strong competitive position and expectations of moderate financial ratios despite fall in oil and gas prices.

However, Oil and Natural Gas Corp’s standalone credit profile has been lowered to ‘a-‘ from ‘a’, which reflects S&P’s expectations of weaker financial ratios.

Reserve Bank of India (RBI) Governor Raghuram Rajan ​in a stern message to wilful defaulters on Friday said rich businesses owing large sums to banks should behave and not flaunt "massive birthday bashes" while still in serious debt.

In a reply to a question that India has borrowers too big to repossess, he said, "we are trying to change that. Let me emphasise that this is not about big businesses, not about rich people. This is not Robin Hood issue. This is an issue about the wrong doer amongst the community, who had raised the cost of borrowing for everybody."

Cigarette-to-hotel major ITC’s October-December earnings missed analysts’ expectations, with its net profit rising marginally. The net rose by only 0.7 per cent to Rs 2,652.82 crore, against Rs 2,635 crore in the same quarter of the year-ago period.

ITC attributed the performance to severe pressure on cigarette volumes, lack of trading opportunities in agri-commodities and a weak demand prevailing in the fast-moving consumer goods (FMCG) industry.

Sports utility vehicle market leader Mahindra & Mahindra launched a sub-2,000cc diesel engine that will allow it to sell its Scorpio and XUV500 models in Delhi and the surrounding region, a little over a month after the Supreme Court banned its sales there.

The court had banned sales of all vehicles having diesel engines more than 2,000cc till end-March 2016, on a public interest suit over rising pollution in the capital.

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