Mumbai: Mercedes Benz India Pvt Ltd launched the GLE 450 AMG coupe for the Indian market on Tuesday.

Priced at Rs.86.40 lakh (ex-showroom, Mumbai) the model is the first so-called performance SUV coupe launched by the company in India.

Nairobi/Mumbai: UltraTech Cement Ltd, backed by K.M. Birla, may buy a controlling stake in ARM Cement Ltd of Kenya, a Nairobi-based newspaper reported.

ARM announced on 23 December it’s in talks with an unidentified institutional investor about a $125 million investment. Chief executive officer Pradeep Paunrana declined to comment on Tuesday when Bloomberg called him, citing regulatory compliance.

SBI today said it is planning to monetise non-core assets and list some of its subsidiaries for meeting capital needs as well as global risk norms, Basel III, which will kick in from March 2019.

Public sector banks need Rs 1.80 lakh crore to meet Basel III norms, while the government will provide only Rs 70,000 crore, SBI chairperson Arundhati Bhattacharya said, adding that the rest will have to be borne by banks through profits and non-core assets.

Union Heavy Industries Minister Anant Geete today said that out of 32 public sector undertakings (PSUs) under his ministry, 12 including Bharat Heavy Electricals Limited are running in losses.

“Out of 32 PSUs under my (heavy industries) ministry, 12 including BHEL were running in losses,” he told reporters here.

TCS Q3 results today: Kotak Institutional Equities expects the company to register a constant currency revenue growth of 1 per cent after taking an impact of 60 basis points from Chennai floods.

IT major Tata Consultancy Services (TCS) is slated to announce its third quarter earnings on Tuesday. The December quarter for overall IT companies is seasonally weak owing to furloughs and a lower number of working days. This time the woes were compounded by the recent floods in Chennai.

On Monday, Tata Motors reported 7% increase in its global sales including that of Jaguar Land Rover (JLR) vehicles at 91,762 units in December 2015. The company had sold 85,742 units in December 2014, Tata Motors said in a statement.

In the passenger vehicles category, the global sales increased by 8% to 59,287 units last month as against 55,145 units in December 2014, the statement said.

Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 1,247 crore across business verticals.

"The construction arm of L&T has won orders worth Rs 1,247 crore in the buildings and factories and power transmission and distribution businesses," the engineering and construction major said in a BSE filing.

TVS Motor has withdrew its appeal on patent for a 'self locating ignition lock assembly', which is designed to help the driver or any other person to locate the ignition lock in the darkness using a fluorescent substance, from the Intellectual Property Appellate Board (IPAB).

The company said that it would continue to provide the feature where ever it is appropriate and others can also benefit from the claimed invention.

The Securities and Exchange Board of India (Sebi) on Monday announced tighter norms governing mutual fund investments in debt securities. The regulator has reduced single security exposure, sector exposure and group exposure for debt schemes.

The move comes within months of a crisis at JPMorgan Asset Management Company due to a payment default on debentures by Amtek Auto.

The BSE Sensex pared some losses after falling over 300 points in the early trade on Monday and closed 109.29 points down at 24,825.04 following weak global cues. NSE Nifty settled 37.50 points down at 7,563.85.

In the 50-share index, Vedanta, Reliance Industries, Tata Motors, Grasim and Maruti Suzuki gained between 1.65 per cent and 4.90 per cent. On the other hand, Wipro, Mahindra & Mahindra, Adani Ports, Tech Mahindra and Dr Reddy’s Labs slid between 2.70 per cent and 3.50 per cent.

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