Bengaluru: Growth in India’s manufacturing sector cooled to its slowest in 22 months in October as domestic demand softened, a private survey showed on Monday, adding pressure on Prime Minister Narendra Modi to usher in long-promised reforms.

The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by Markit, fell to 50.7 in October from September’s 51.2. The 50-mark divides expansion from contraction.

It is tempting to conclude that ITC Ltd is caught in a bad situation. Its cigarettes business is barely growing, its fast-moving consumer goods (FMCG) business is no longer the growth driver it used to be, and a weak business environment has hit its paper business. Even agricultural commodity trading revenues have declined because of weak trading conditions. The hotels division has done relatively better in recent quarters, but is not a significant contributor to revenue.

Wipro Ltd is turning to a start-up for technology which the country’s third largest software exporter believes will help it automate a lot of internal processes. The move is the first such engagement where a large Indian IT company is using the technology of a start-up to become a nimble organization.

Significantly, this move by Wipro could prompt other technology firms in the country to deploy technologies to improve the way they do business, according to a few experts.

State-run NTPC is looking to source low-cost re-gasified liquid natural gas (RLNG) from spot markets overseas to improve its margins that have taken a hit in recent quarters. While the cost of coal, on which over 90% of the company’s power generation depends, has remained flat, it is circumscribed by the norm that the revenue from power produced from subsidised gas can be used only to service debt.

The subsidy policy is basically aimed at running some stranded gas-based pants and ensure a mechanism for debt servicing, so that these assets don’t become NPAs.

The Railways has announced initial guidelines for the proposed re-development of 400 stations in the country, mandating that an applicant has to have a net worth of at least Rs 50 crore at the end of the last financial year to be eligible to bid for it.

Already, the ministry has held an informal meeting with potential investors to understand expectations of private players, sources said.

Maruti Suzuki India, country’s largest car maker, on Monday registered a rise of 29.10 per cent in its total car sales for the month of October 2015 at 134,209 units, as against 103,973 units in 2014. The company’s domestic sales rose by 24.7 per cent in October 2015 at 121,063 units, as against 97,069 units in corresponding month last year.

Of the total, the company has sold 97951 units of its passenger cars during last month, up by 21.5 per cent as against 80,589 units in 2014. The company’s sales of vans have increased by 30.8 per cent to 13,677 units as against 10,453 units in 2014.

NEW DELHI: Air India has prepared a plan to add 25 aircraft, the stateowned carrier's first fleet expansion since an order for 111 aircraft placed in 2006, as it seeks to expand network to underserved regions.

"These aircraft will be used to strengthen our network to smaller cities, which will be connected through an Airbus 320 aircraft and supplemented by another flight with an ATR aircraft," said a senior Air India official, who did not want to be identified.

MUMBAI: Reliance Communications on Monday announced plans to acquire Sistema Shyam's wireless service business for a 10% equity in the combined firm to Russia's Sistema.

The company which runs the only all-CDMA technology based network under the brand MTS will come without any debt, as its promoters will repay all loans prior to the merger, a joint statement said.

Coal India produced 44.37 million tonnes of coal in October, the company has said in a filing to the BSE.

Coal India missed its October target by 5.27%. The company had estimated that it will churn out 46.84 million tonnes of coal in the month.

Benchmark indices continue to trade lower weighed down by capital goods, healthcare, IT and metal shares. However, upside among select auto shares have limited the downslide.

Meanwhile, China's factory activity fell for an eighth straight month in October but at a slower pace as export orders flickered into life, a private survey showed on Monday, pointing to continued sluggishness in the world's second-largest economy.

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