Banking shares are under pressure with most of the frontline banks trading in red after retail inflation based on Consumer Price Index (CPI) for the month of November rose to 5.41%, the highest in at least a year, compared with 5% in October and 3.27% in November 2014.

At 10:15 AM, ICICI Bank, Punjab National Bank, Jammu & Kashmir (J&K) Bank and IDBI Bank were trading lower more than 1% each, while Canara Bank, Andhra Bank, Bank of Baroda, State Bank of India (SBI), Syndicate Bank and Oriental Bank of Commerce down 1% each.

Hyundai Motor India Limited today announced appointment of S Ganesh Mani as Vice-President - Production. He will report to Young Key Koo, managing director, Hyundai Motor India Limited.

Mani last served as Vice President Operations Control at Maruti Suzuki India Limited, where he worked for over 28 years and discharged several senior executive level responsibilities in manufacturing, strategy, operations, vector alignment etc.

New Delhi, Dec. 13 (PTI): Opposing an immediate stake sale in Coal India Ltd, foreign portfolio investors (FPI) have told the finance ministry that further divestment in the coal miner should be put off as the current market valuation is low.

Foreign investors such as Fidelity, Wellington Management and BlackRock have also conveyed that they may look at selling their holding in Coal India since the share price can plummet further in case the divestment happens soon, sources said.

Mahindra & Mahindra is close to signing a deal to buy Italian car designer Pininfarina , two sources with direct knowledge of the matter said on Friday, the latest purchase of an iconic Italian brand by an Asian company.

The terms of the deal have been agreed by both parties after months of talks and an announcement could come as soon as next week, the sources said.

Infosys on Monday informed the stock exchanges that it has made an investment of $3 million in an early stage company ‘WHOOP, which offers a performance optimisation system for elite professional sports team.

WHOOP Inc, a Delware Corporation, offers a highly differentiated performance optimisation and analytics solution that is of strategic importance to Infosys in the professional team sports and connected wellness markets.

IN an attempt to revive its fortune, cash-strapped Air India is focusing on increasing operating efficiency and simultaneously reducing working capital- and aircraft-related debt, according to the turnaround plan tabled in 2012. The national carrier is also trying to monetise its assets in India and abroad to increase revenues.

The total debt of Air India in FY15 stood at around Rs 50,000 crore, of which Rs 19,000 crore is related to aircraft. A senior official of the airline told FE that the airline has managed to repay 50% of the total airline-related debt.

The Indian rupee again breached the 67-mark by depreciating 18 paise to 67.06 against the dollar in early trade today at the Interbank Foreign Exchange, mainly on strong demand for the American unit from importers and some banks amid a lower opening of the domestic equity market.

Dealers said besides dollar’s gain against some overseas currencies, sustained capital outflows weighed on the domestic unit.

KOLKATA: Microsoft India plans to sign a 4G data-bundling pact with India's No 1 carrier Bharti Airtel to encourage the latter's customers to buy the recently launched Lumia 4G smartphones, a top company executive told ET.

Once the deal is formalised, Airtel 4G customers purchasing the Lumia 950 or 950 XL will get free data bundled with the devices, which run on the Windows 10 operating system.

CHENNAI: The 59-hour countdown for the launch of six Singapore satellites by Indian Space Research Organisation on board its Polar Satellite Launch Vehicle from Sriharikota began today.

The launch is scheduled at 6.00 PM on December 16, at Satish Dhawan Space Centre in the spaceport of Sriharikota.

Shares of automobile companies have extended losses in Monday morning trades and are trading lower after the National Green Tribunal (NGT) on Friday has ordered immediate ban on registration of diesel-run cars in the national capital. The order further states that there won’t be any renewal of registration of vehicles that are older than 10 years in Delhi.

Among individual stocks, Tata Motors has skid over 3% to Rs 366, M&M has slipped nearly 2% to Rs 1,238, Ashok Leyland has dropped 0.7% to Rs 85, and Eicher Motors has lost 2.4% to Rs 15,187 on the Bombay Stock Exchange.

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