Air India on Friday said it will start a new tri-weekly Hyderabad-San Francisco flight via New Delhi from next week.

The flight will travel non-stop from New Delhi to San Francisco and passengers headed to the US city will undergo all customs and immigration formalities at Hyderabad airport itself for their onward journey, the national carrier said in a statement.

Eighteen village councils in Uttar Pradesh are demanding a local Coca-Cola bottling plant be prohibited from extracting water from the ground, claiming its over usage has led to water scarcity in the area, said an environmental campaign group.

The villages, which are located in Mehdiganj area of Varanasi district, the constituency of Prime Minister Narendra Modi, claim they have been facing water shortage since 1999 when the plant began operations.

Mumbai: Mercedes Benz will invest Rs1,000 crore on production of luxury cars in Maharashtra. The announcement was made in a meeting between state chief minister Devendra Fadnavis, MD & CEO of Mercedes Benz India Eberhard Kern, and future MD and CEO of the company, Roland Folger, on Monday evening, an official said on Tuesday.

Mumbai: The country’s largest lender State Bank of India (SBI) on Tuesday cut its base rate by 40 basis points (bps) to 9.3%, soon after the Reserve Bank of India (RBI) reduced its policy repurchase rate by 50 bps.

One basis point is one-hundredth of a percentage point.

The bank will also be reducing its deposit rates by 25 bps across maturity baskets. Both rate cuts will be effective 5 October, SBI chairperson Arundhati Bhattacharya said.

Hyderabad: Drug maker Dr Reddy’s Laboratories has bought time until 7 December from the US Food and Drug Administration (FDA) to tell the regulator how it plans to address a string of alleged manufacturing violations at its plants in India.

The FDA issued a warning letter to Dr Reddy’s on 5 November alleging violations of good practice, including testing at undisclosed labs, manipulation of data, questionable staff qualifications and manual interference in drug making at three plants in Andhra Pradesh and Telangana.

New Delhi: The Securities and Exchange Board of India, or Sebi, on Thursday slapped a fine of Rs.1.84 crore on Arun Jain, chairman and managing director of Polaris Software Lab Ltd, Rs.19.69 lakh on R. Srikanth, the company’s ex-chief financial officer, for allegedly making illegitimate gains through trading in shares of the company while in the possession of unpublished price sensitive information in 2008.

India and Japan today exchanged notes for Japan’s Official Development Loan Assistance (ODA) worth Rs 5,536 crore for Chennai and Ahmedabad metro rail projects.

“India and Japan exchange notes for Japan’s Official Development Loan Assistance worth Rs 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project,” said an official release.

The country’s largest car-maker, Maruti Suzuki India, is moving towards offering an automatic technology variant in every segment it is present in. Currently, Maruti offers a variant of semi-automatic and automatic technology in the Celerio, Alto K10, WagonR, Dzire, Baleno and the Ciaz. The models still having scope for offering the automatic technology include the best-selling hatchback Swift, utility vehicle Ertiga and the newly launched crossover S-Cross.

Maintain ‘buy’ on Lanco Infratech with an SoTP-based target price of Rs 9 per share. Resolution of regulatory issues seems to be behind us and progress on asset / stake sale leading to reduction in debt will determine stock performance.

Lanco’s Q2FY16 adjusted loss was in line at ~Rs 470 crore. EPC operations have resumed and normalised activity is expected going forward with quarterly revenue of ~Rs 1,500 crore and ~11-12% ebitda. Kondapalli expansion is expected to be commissioned by Q3FY16 end; with the recent gas pooling initiative, it is expected to operate at ~50% PLF.

Mumbai: The Indian rupee recovered marginally from 26-month low hit earlier in the session, but ended weaker on Friday as caution ahead of key economic data and a strong dollar overseas kept most traders on the sidelines.

The home currency closed at 66.76, down 0.29% from its previous close of 66.57. It had opened at 66.71 and touched an over two-year low of 66.89 per dollar intra-day— a last level seen on 4 September 2013.

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