Mahindra & Mahindra (M&M) is trading higher by nearly 5% to Rs 1,228 on the BSE in otherwise weak market after automaker has reported 20% year on year (YoY) growth in total sales of 51,383 units in the month of October 2015. It had sold 42,780 units in the same month year ago.

In the domestic market, sales were up by 21 per cent to 48,815 units last month as against 40,278 units in October 2014. Exports were up three per cent at 2,568 vehicles as against 2,502 units in the same period a year ago.

Mumbai: Anil Ambani-led Reliance Communications Ltd (R-Com) on Saturday informed stock exchanges that its board of directors will meet on Monday to consider a merger of the telecom business of Sistema Shyam Teleservices Ltd with itself, that could mark the start of much-anticipated consolidation in India’s telecom sector.

“Reliance Communications has informed BSE that a meeting of the board of directors of the company will be held on 2 November, inter alia, to consider a scheme of arrangement for demerger of telecom business undertaking of Sistema Shyam Teleservices into the company,” R-Com said in the notification.

Mumbai: India’s oldest airline Air India Ltd will take 15 more narrow body Airbus SAS made A320 planes on lease to augment capacity as its private rivals are taking delivery of more planes scaling up the competition.

This in addition to Air India’s latest addition of five such planes and its plan to lease 14 Airbus A320neos, a fuel efficient variant that can give 15% savings on fuel compared to existing A320 planes.

Hyderabad: Flipkart Ltd, the country’s largest e-commerce company, is making its biggest investment push by far by investing about $2.5 billion over the next few years to establish a country-wide network of back-end infrastructure as it fortifies its position in the rapidly growing e-commerce market.

Setting up logistics support systems and establishing a chain of warehouses in all states will give Flipkart an edge over its rivals by enabling it to reach millions of people and deliver goods quicker to customers.

New Delhi: The government has proposed a 2% levy on domestic and international plane tickets to subsidize airlines so that they connect small and remote cities, and enable millions more to travel by air in the world’s fastest growing aviation market.

NEW DELHI: US social networking major Facebook has partnered state-owned Bharat Sanchar Nigam Ltd. (BSNL) to create 100 WiFi hotspots in rural India to drive digital penetration in the country.

Facebook is investing Rs 5 crore per annum for buying bandwidth from BSNL in this joint initiative that also includes IT infrastructure services providers such as Quad Zen and Trimax for equipment and fibre deployment, BSNL chairman and managing director Anupam Shrivastava told ET.

The Oil and Natural Gas Corporation (ONGC) has begun the process for capping a borewell, that got active and threw water to the surface, in Kothapally village in Andhra Pradesh's East Godavari district.

The borewell, which was dug 20 years before and abandoned by a farmer, recently got active and some biogas also surged to the surface yesterday, an ONGC release said today.

Mahindra & Mahindra is the only automobile company in the country that has a diverse portfolio of vehicles, which comprises scooters, motorcycles, cars, sports utility vehicles (SUVs), heavy commercial vehicles (HCVs), light commercial vehicles (LCVs), electric cars and tractors. Regularly churning out new and successful models in each of these segments is not an easy proposition for any company. To be fair to Mahindra & Mahindra, it has managed to do a rather good job in India's extremely competitive passenger vehicle segment. Much of that credit needs to be given to its clutch of SUVs.

SUVs such as the Bolero, Thar, Scorpio and XUV500 have been well accepted in the country. But it's the compact SUV segment where Mahindra really needs to make an impact. The company recently launched the Mahindra TUV300 (pronounced three double O, as in the alphabet O). The design of the TUV300 has been inspired by a battle tank.

ICICI Bank, India’s largest private sector lender, posted a 12 per cent rise in net profit for the quarter ended September to Rs 3,030 crore. This was driven by 25 per cent growth in retail loans. The bank’s earnings were in line with market expectations.

Overall credit growth stood at 17 per cent despite muted loan demand from corporate borrowers. Retail loan growth was higher than the sector’s, which stands at 16-17 per cent. Now, retail loans account for 44 per cent of ICICI Bank’s overall loan book, compared with 40 per cent a year ago.

Engineering and construction firm Larsen & Toubro (L&T)'s net profit increased 16 per cent to Rs 996 crore for the September quarter from Rs 861.7 crore a year ago. The profit was also two per cent higher than Bloomberg consensus estimates of Rs 975 crore. The profits were boosted by exceptional gains of Rs 309.6 crore on account of a stake sale in a subsidiary company, as well as in an associate company.

L&T's consolidated gross revenue rose 11 per cent to Rs 23,605 crore. International revenue at Rs 7,658 crore constituted 32 per cent of the total revenue. The group's consolidated order book stood at Rs 2,44,097 crore, higher by 14 per cent year-on-year, with international order book constituting 28 per cent of the order book.

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