PSU explorer ONGC and private firm Reliance Industries (RIL), which are expected to commence production from coal bed methane (CBM) blocks this fiscal, may get a ‘better price’ than the prevailing domestic gas price. The price of natural gas, based on a formula approved by the Modi government last October, would further reduce to $4.15-$4.20/mBtu from October 1 against $5.18/mBtu now, given the movements in benchmark prices in the relevant period. At this price, commencing CBM production from a new block seems economically unviable, forcing the petroleum ministry to look for better options for monetisation of CBM resources.

Reserve Bank of India (RBI) Deputy Governor R. Gandhi said on Tuesday there was an “urgent” need for banks to reduce their stressed assets, given the impact on liquidity and capital in the sector.

The RBI had received a proposal to limit the number of banks in a lending consortium as a way to improve recovery of loans, Gandhi said in a speech at an industry event in Mumbai.

German carmaker Mercedes-Benz sees business potential in offering on-demand limousine services using driverless cars, Daimler Chief Executive Dieter Zetsche said, in what amounts to a direct challenge to Uber.

Germany's oldest carmaker is considering setting up large fleets of autonomous cars to cater to a new customer base which is less attracted to vehicle ownership but still interested in using premium transportation services like limousines.

Maruti Suzuki India is trading higher by 2% at Rs 4,414 on the NSE in early morning trade after the Reserve Bank of India (RBI) has allowed foreign investors to invest up to 40% of the paid up capital of the company under the portfolio investment scheme.

The Reserve Bank of India has on Monday notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs)/qualified foreign investors (QFIs) can now invest up to 40% of the paid up capital of Maruti Suzuki India Limited under the Portfolio Investment Scheme (PIS).

Taxi aggregator app Ola will invest Rs 5,000 crore in the coming year to expand its newly formed cab leasing business.

The Bengaluru-based firm has also roped in former LeasePlan India executive Rahul Maroli as Vice President (Strategic Supply Initiatives) to head the leasing business that will operate as a fully-owned subsidiary company.

The BSE Sensex and NSE Nifty closed 246 points and 82.95 points up at 25,856.70 and 7,872.25, respectively, on Monday.

In the 50-share index, NTPC, Vedanta, BPCL, Hindalco and Tata Steel gained between 3.40 per cent and 5.50 per cent. On the other hand, Cairn India, Idea Cellular, Bajaj Auto, Maruti Suzuki and TCS slid between 0.50 per cent and 1.61 per cent.

CHENNAI: Tata MotorsBSE 0.35 % is working on a combination of network expansion, dealer development and product repositioning to turn around its passenger vehicle sales. According to a top company official, this, along with an aggressive new products strategy with plans to launch two new vehicles every year, is expected to help the company regain its position in the industry pecking order. Put in place by Mayank Pareek, president (passenger vehicles business unit), Tata Motors, the new strategy has already helped Tata Motors gain 1 per cent market share in the first five months of this financial year.

Telecom industry analysts said the recent government decision for easing of norms to share or trade underutilised spectrum could make Reliance Jio go for hard bargaining with potential seller Reliance Communication (RCom) as the rules have made spectrum trading costlier.

According to the spectrum trading guidelines, a telecom operator can share or trade their underutilised spectrum obtained via auction.

The Mahindra group today announced its debut into the e-commerce space with the launch of M2ALL.Com, an e-marketplace for Mahindra products and services.

The online marketplace has begun taking bookings for the new compact SUV -- Mahindra TUV300.

Mumbai: The Indian rupee on Monday strengthened against the US dollar ahead of key inflation data due later in the day.

At 9.08am, the home currency was trading at 66.46, up 0.13% from its previous close of 66.54. The local unit opened at 66.42 per US dollar.

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