NEW DELHI: DLF Ltd could be looking at a new business model where it will build and complete residential projects before selling apartments in them once the deal by its promoters to sell 40% stake in the company's rental arm for Rs 12,000-14,000 crore goes through, two people with knowledge of plans said.

DLF had said last week that the promoters would reinvest a substantial amount of money from selling their stake in DLF Cyber City Developers (DCCDL) back into the company after paying tax and other charges.

NEW DELHI: The government will examine whether Reliance Industries deliberately extracted gas from the neighbouring block of the Oil and Natural Gas Corp in the KG basin after it receives the final report on the dispute from an international consultant in about three weeks.

Officials said the issue was complex and the oil ministry will consider various points raised by Reliance and ONGC as well as the report of consultancy DeGolyer and Mac-Naughton (D&M), appointed to assess ONGC's allegation that RIL stole the state firm's gas, to find a way to resolve the dispute.

Kotak Mahindra Bank has said that its mobile based transactions has increased by 300 per cent to Rs 1,700 crore in September 2015 compared to same period last year.

The Bank is strengthening its digital infrastructure to keep the momentum, said a senior official.

TVS Motor today launched the launch of its Special Gold Edition 2015 TVS StaR City+ motorcycle. The launch coincides with the completion of one year of successful TVS StaR City+.

The variant will come with several additional new elements that enhance the superiority of the motorcycle including first-time introduction of white and gold colour combination which complements the motorcycle's modern styling, 110cc engine performance and other, said the company.

Sebi will soon allow the companies to file ten-page abridged prospectus for initial public offers (IPO) as part of its efforts to help disseminate information in a more investor-friendly manner.

The abridged document would have only 10 pages without compromising on information that an investor is required to know, Sebi’s Executive Director (Corporation Finance Department) P K Nagpal said.

Private explorer Reliance Industries Ltd (RIL) extracted at least 9 billion cubic metres (BCM) of gas from government-owned explorer ONGC’s block in the Krishna Godavari (KG) basin block off the Andhra Pradesh coast, according to a draft report submitted by US-based international consultant DeGolyer and MacNaughton (D&M).

This means, at an average gas price of $4.2/mBtu and exchange rate of Rs 60 against a dollar, RIL drilled gas costing Rs Rs 8000-9000 crore that belonged to ONGC, say two analysts.

MUMBAI: Volvo Financial Services today announced the launch of its operations in India to provide a competitive and total one-stop shop solution of equipment, loans, leases, insurance, maintenance, and other aftermarket services, to customers and dealers of the Volvo Group and VE Commercial Vehicles -VECV.

VECV is a joint venture between the Volvo Group and Eicher Motors Limited in India.

After opening in the green by over 225 points, the benchmark BSE Sensex in a volatile trade pared all of its early gains and fell by over 50 points after IT bellwether Infosys slashed guidance for the fiscal despite posting 9.8% in profit for the second quarter.

Massive selling in IT and tech sectors, down 1.22% and 0.90%, respectively, after Infosys posted result for July-September quarter pulled down Sensex from day's high. The 30-share index was down by 54.60 points or 0.20 per cent to 27,024.91, with stocks of IT and teck sectors falling the most. The gauge had gained 233.70 points in Friday's session.

Private sector lender Yes Bank on Monday said it has got the Reserve Bank's approval to set up a mutual fund, asset management company (AMC) and a trustee company.

In a regulatory filing, Yes Bank said it "has received an approval from the RBI to sponsor a mutual fund, and to set up an asset management company and a trustee company." It further said: "In its twelfth year of operation, as Yes Bank accelerates into its next phase of growth, this new business initiative will provide further acceleration to Yes Bank's differentiated product offerings.

After increasing its user base during the past quarter from 35 million to 100 million, Truecaller, a Swedish app-based company that helps in identifying unknown numbers and blocks spam calls, is aiming to double its user base in India by next year. This week, the company crossed 100-million mark in India, where it has half its global users.

“By December (this year), our target is to have 150 million users. By the end of next year, we are expecting user base at 200 million,” Kari Krishnamurthy, vice-president of growth and partnerships, Asia & country manager for India, told Business Standard.

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