State-run telecom operator BSNL aims to increase its revenues by almost 50 per cent to Rs.42,000 crore in the next four years as part of the Modi-government’s plan to turnaround the loss making firm by 2018-19.

The company’s revenues stood at Rs.28,000 crore during the last financial year (2014-15).

The rupee firmed up further in late morning deals and was trading higher by 18 paise to quote at 66.64 following sustained selling of the greenback by banks and exporters amid weakness of dollar overseas on the back of higher equities.

The domestic unit resumed marginally higher at 66.77 per dollar as against Monday’s level of 66.82 at the Interbank Foreign Exchange (Forex) market.

SBI Mutual Fund on Tuesday launched a close ended income scheme – the SBI Dual Advantage Fund-Series XI . The new fund offer (NFO) opens for subscription on September 8 and closes on September 22; No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against Crisil MIP Blended Fund Index and its fund managers are Rajeev Radhakrishnan and Dharmendra Grover.

MUMBAI: Tata Motors, among the top 10 truck & bus manufacturers' globally, today announced completion of over 100 crore or 1 billion kilometers with Delhi Transport Corporation (DTC) in 7 years - one of the largest CNG-powered bus service operators in the world.

With 2682 buses, including low and semi-floor A/C and Non A/C variants, Tata Motors 2.50 % DTC buses operate from 22 bus depots spread across New Delhi, ferrying over 30 lakh passengers, covering approximately 4.70 lakh kilometers daily, with a fleet availability of 96%.

New York: India’s second largest software services firm Infosys Ltd on Tuesday said the US government has found no visa violations after a probe that began in June this year.

“Infosys is pleased to report that the US Department of Labor (DOL) concluded its investigation with a determination of compliance regarding labour condition applications filed in the Southern California Edison project,” it said in a statement. “Infosys fully cooperated with DOL in its investigation, and over 145 files were reviewed, with no violations found,” it added.

New Delhi: Prime Minister Narendra Modi plans to meet with billionaires, bankers and bureaucrats on Tuesday to discuss ways to bolster the economy as the country’s stocks and currency slide.

More than 40 people will attend the meeting at Modi’s official residence, the government said in a statement late on Monday. Participants include central bank Governor Raghuram Rajan, Finance Minister Arun Jaitley, Tata Group Chairman Cyrus Mistry and billionaire Mukesh Ambani, The Economic Times reported, without citing anyone.

The BSE Sensex and NSE Nifty are likely to open in green on Tuesday tracking SGX Nifty and rest of Asian markets.

At 8.19 am (IST), SGX Nifty was up 49.50 points, or 0.65 per cent, at 7,610.50.

NTPC shares jumped over 2 per cent in the morning trade on Tuesday after Citi upgraded NTPC to ‘buy’, citing capacity additions, improving and assured return on equity, low valuations and no regulatory uncertainty till FY19. Earlier, Citi group had ‘neutral’ rating on NTPC stocks.

At 10.45 am, NTPC was trading 2.35 per cent higher at Rs 115.30. It opened at Rs 113 and had touched a high and low of Rs 116 and Rs 113, respectively, in trade so far. Sensex was up 0.14 per cent at 24,929.

MUMBAI: Engineering major Larsen & Toubro aims to restructure its top deck as part of its succession plan and will do away with the position of 'managing director and chief executive officer' in its current form after incumbent K Venkataramanan retires in September, chairman AM Naik told ET on Monday.

The $15-billion company has been grooming executives from within the company for leadership roles and SN Subrahmanyan, board member and senior executive vice president (infrastructure and construction), is seen leading the race for the top spot.

BENGALURU: Months after it poached Tata Consultancy Services veteran Abid Ali Neemuchwala as its operations chief, Wipro has roped in yet another top executive from TCS, Dave Chopra as Vice President of its key global infrastructure business. India's third-largest software exporter confirmed the development.

"Wipro can confirm that Dave Chopra has joined the company as vice-president, global infrastructure services, and will be responsible for driving strategy, marketing and business development for GIS.

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