The Department of Telecommunications (DoT) has raised a demand of Rs 5,384 crore from Reliance Communications liberalising its 800 Mhz spectrum in 16 circles, which it plans to share with Mukesh Ambani’s Reliance Jio.

Also, a one-time fees for spectrum usage charges of Rs 1,596 crore has been raised, according to sources.

MUMBAI: The benchmark BSE Sensex recovered over 57 points in early trade on Tuesday on mild buying in select stocks by participants amid mixed Asian cues and ahead of the IIP and inflation data to be released later in the day.

The 30-share index was 57.26 points, or 0.23 per cent, higher at 24,882.30 in early trade with sectoral indices, led by power, capital goods, infrastructure, PSU, pharma and consumer durables and oil & gas were in positive terrain.

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.

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