The minimum train passenger fare will go up from Rs 5 to Rs 10 as Indian Railways has decided to increase the minimum chargeable fare in non-suburban services at par with the platform ticket from November 20.

The platform ticket price was revised from Rs 5 to Rs 10 in April this year as proposed in the rail budget with a view to control the rush on platforms.

ICICI Bank announced the sale of a 6% stake in its life insurance arm at a valuation of Rs 32,500 crore. This comes on the back of a 9% stake sale in its general insurance arm valued at Rs 17,500 crore. Both sales combined will provide ICICI bank with a one-time gain of Rs 3,000 crore. While the valuation of the life insurance business at 2x F15 EV was in line with expectations, the general insurance valuation was higher.

Mahindra and Mahindra (M&M) has doubled its market share in the sub-2 tonne light commercial vehicles (LCV) segment during the July-September quarter compared to the quarter preceding it, mainly on the back of its latest offering Jeeto, which was launched in June.

Though M&M’s latest offering has been success in the market, the light commercial vehicle volumes in the current fiscal have been on a continuous decline due to poor demand in the rural market and lack of financing options for prospective buyers.

The incessant rains in Chennai over the past week have affected the food and grocery delivery business in the metro with major online players like Grofers and BigBasket having shut operations completely for the past two days. “Dear customer, due to heavy rains, we have to suspend order-deliveries in Chennai till Saturday, 21st November. We deeply regret the inconvenience caused,” read a message on the BigBasket portal.

KOLKATA: The government has received 101 applications for the post of chairman and managing director at NTPC, the country's largest power generation company. The last time the post fell vacant, there were 10 applications and prior to that there were about a dozen.

"In an effort to attract candidates from the private sector, the government has relaxed a few requirements, including the necessity of an engineering degree, which might have resulted in such a large number of candidates applying for the post," a senior official said on condition of anonymity.

NEW DELHI: The engineering wing of Air India has certified 60 Airbus planes from its fleet of 66 as operational, surpassing the national carrier's target and giving a boost to its effort to increase on-time performance.

At a meeting called by aviation secretary RN Choubey last month, Air India's chairman and managing director Ashwani Lohani had said the airline would soon be flying 58 of the 66 Airbus 320 aircraft it has in its fleet. AI was then flying only 54 of these planes.

In a sign of turnaround, state-run telecom operator BSNL on Tuesday reported net loss stood at Rs 8,234 crore for the fiscal, the same for which was Rs 7,020 crore in last year and the widening is on account of asset depreciation calculated as per the Companies Act, 2013.

The company's an operating profit of Rs 672 crore for the financial year 2015, aided by fall in administrative costs and jump in revenues.

Indian Hotels Company and ITC, which until last week controlled a quarter of the country's branded hotel room inventory, will find it difficult to retain their stranglehold as Marriott and Starwood mount pressure after their merger.

The Tata-controlled Indian Hotels Company, which has the century-old Taj brand, has been reeling from three consecutive years of losses. Increased room inventory by international chains, high debt and weak economic activity have taken a toll on the company.

Infosys, India’s second largest IT services company, on Tuesday said it is looking to step up hiring in the US, especially fresh graduates from the campuses of top American educational institutions, even though the company reiterated that a significant talent gap still exists in the country.

“We are increasingly looking at expanding presence in the local markets as a significant portion of sale and consulting are local. Last year, we recruited 250 people from campuses in the US, on an experimental basis.

Mumbai: Rising for the second day in a row, the benchmark BSE Sensex on Tuesday jumped over 104 points to 25,864.47, helped by value-buying in beaten-down stocks and a firm global trend after concerns about impact of Paris attacks receded.

Covering-up of short positions by speculators added to the gains, traders said. Sentiment took a turn for the better after Asian and European stocks rose across the board following a strong close on Wall Street overnight as investors covered up losses following last week’s deadly Paris terror attacks.

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