Mumbai: Mahindra and Mahindra Ltd on Wednesday launched an automatic version of its sports utility vehicle XUV500. Priced at Rs.15.36 lakh (ex-showroom, Navi Mumbai), the new variant comes with a six-speed automatic gear box and is available in an all-wheel drive version, the company said in a statement. It has sourced the automatic transmission unit from AISIN, Japan.

ONGC will maintain its capex plan for this year at the same level as last year at about Rs 30,000 crore, its chairman Dinesh K Saraf has said.

However, the company sees reduction in the same next fiscal year, to the tune of 20-30%.

Trading segments including Indian equity, forex, money and commodity markets are shut today on account of Guru Nanak Jayanti, which commemorates the birth of the founder of the Sikh faith.

On Tuesday, markets ended lower for the second straight session as investors turned cautious ahead of the expiry of November derivative contracts.

Reliance Communications (RCom) is close to finalising a deal to sell its entire stake in tower unit Reliance Infratel, sources said.

RCom owns about 96 per cent stake in Infratel and the sale would fetch it around Rs 22,000 crore, which will be used to retire some debt. The deal values Infratel at around Rs 22,500 crore. Reliance Infratel has about 43,500 mobile towers.

In India’s first telecom spectrum trading transaction, Videocon Telecommunications, a subsidiary of Videocon Industries, on Tuesday sold its spectrum in Gujarat and UP (West) circles to Aditya Birla group’s Idea Cellular at a valuation of Rs 3,310 crore.

A top official of Videocon said the company was also in talks with multiple bidders to sell its spectrum in UP (East) and Bihar circles at a valuation of Rs 3,500 crore. It will also sell spectrum, subscribers and network in Madhya Pradesh and Haryana circles for Rs 4,000 crore by early next year.

Private lender Axis Bank today said it has joined hands with Tata-SIA joint venture airline Vistara to launch a travel credit card next year under a strategic partnership.

The co-branded travel credit card, to be unveiled early next year, will offer a host of privileges and benefits to the business and leisure travellers of Vistara, Axis Bank said in a release today.

Mumbai: Markets ended in the red for the second straight day as the benchmark BSE Sensex slipped by about 44 points to end at 25,775.74 on offloading of positions by participants amid a mixed trend in Asia and a lower opening in Europe. Besides, caution before the expiry of November series contracts in the derivatives segment on Thursday had a bearing on mood.

Mumbai: The Indian rupee on Tuesday strengthened against the US dollar, tracking gains in the Asian currencies market.

At 2pm, the home currency was trading at 66.37, up 0.16%, from its previous close of 66.48 per US dollar. The local unit opened at 66.38 per US dollar and touched a high and a low of 66.35 and 66.41 respectively.

MUMBAI: Proxy advisory firm Stakeholders Empowerment Services (SES) has termed the proposed contract manufacturing deal between Maruti Suzuki and parent Suzuki Motor as favourable to the minority shareholder of the Indian carmaker. Its view comes after Institutional Investor Advisory Services (IiAS) recommended its clients to vote against the proposal, under which a wholly owned unit of the Japanese major would produce cars and supply to Maruti.

NEW DELHI: Reliance Communications % is set to sell its stake in tower unit Reliance Infratel in a deal which values the subsidiary at around Rs 22,000 crore and which will be announced within this week, people familiar with the matter said.

The sale of RCom's stake in Reliance Infratel to a private equity player would likely mark the complete exit of the fourth largest telecom services provider by customers from the telecom tower business in India.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.