The slow real estate market is now driving even the largest developer DLF to offer a variation of a typical ‘’subvention scheme’’. While companies have been using the scheme as a marketing tool to attract buyers, it is for the first time that DLF is offering such a plan. It’s starting with a 20:20:60 plan for a project in Gurgaon.

Although subvention refers to the government paying a certain portion of home loan interest in affordable real estate projects, the industry is using the scheme in different ways to make it easier for the buyer in terms of structuring of payment for the house.

IT services, consulting and business solutions company, Tata Consultancy Services Limited (TCS), will be setting up a research and development (R&D centre) at the International Institute of Information Technology, Hyderabad (IIIT-Hyderabad) with an investment of Rs 20 crore.

Called the FC Kohli Centre on Intelligent Systems (KCIS), the 60,000-sft centre will act as an umbrella organisation at IIIT-Hyderabad to both strengthen the existing groups and facilitate new technologies.

Air India will, for the first time, raise $330 million (Rs 2,000 crore) through the external commercial borrowings (ECB) route. The money will spent on aircraft maintenance, said civil aviation ministry officials.

“Once this money is raised, Air India will utilise it on improving fleet maintenance,” said officials. At any point of time, Air India has only 52-54 of its narrow body aircraft in working condition, in an overall fleet strength of 62 aircraft.

South Korea’s Hyundai Motor Co said its net profit slumped for the sixth quarter in a row, in line with forecasts, as weak sales in key markets like China and the United States and the won’s strength continue to shackle the automaker.

The firm, which with affiliate Kia Motors ranks fifth in global auto sales, said on Thursday its net profit fell 24 percent to 1.7 trillion won in April-June from 2.2 trillion won a year earlier. That matched the average estimate of 14 analysts polled by Thomson Reuters I/B/E/S.

In a volatile market, the bechmark BSE Sensex slipped 134.09 points to close at 28,370.84. NSE Nifty on the other hand dropped below 8,600 and close 43.70 points down at 8,589.80.

Lupin emerged top loser of the day. On BSE, Lupin Ltd closed 5.23 per cent down, while on NSE, it traded 5.25 per cent down.

Shares of Wipro Ltd slipped over 1 per cent ahead the IT company’s first Quarterly of financial year 2015-16.

At 11:50 am, Wipro stocks dropped 1.02 per cent at Rs 579.40 on BSE. On NSE, Wipro stocks slide 0.86 per cent at Rs 579.60

MUMBAI: Even as it shifts focus on soft-roader urban sports utility vehicles in FY-16, Mahindra & Mahindra, India's largest utility vehicle maker does not to lose its core of being the maker of strong rugged SUVs. The company on Thursday launched a new version of its lifestyle off-road vehicle Thar at Rs 8.03 lakh ex-showroom Nashik.

The new Thar CRDe to be made available in only select markets to begin with, comes with host of new exterior changes that includes front and rear bumpers, wheel arches, clear lens headlamp and redesigned side-footstep with the canopy.

MUMBAI | HYDERABAD: The K C Rao - led Telangana government has awarded the turnkey contract of three power projects - adding up to 6,000 MW capacity and to be built at a cost of Rs 27,360 crore ($4.3 billion) - in the state to government-owned power equipment manufacturer Bharat Heavy Electricals (Bhel) on nomination basis, without floating a mandatory competitive bid.

Country's largest carmaker Maruti Suzuki India (MSI) launched retail outlets under Nexa brand to sell premium products as the company looks to further consolidate its position in the domestic market.

"Based on the vision to sell two million vehicles annually by 2020, we are starting various initiatives. Nexa outlets is one such step lined up in that direction," MSI Managing Director and CEO Kenichi Ayukawa told reporters here.

Seven Indian companies, including Reliance Industries and Tata Motors, are among the world’s 500 largest companies, according to a list compiled by Fortune.

The Indian companies on the 2015 Fortune Global 500 list are Indian Oil ranked 119 on the list, with revenues of about USD 74 billion, Reliance Industries (158) with revenues of USD 62 billion, Tata Motors with revenues of USD 42 billion (254), State Bank of India with revenues of USD 42 billion (260), Bharat Petroleum with revenues of USD 40 billion (280), Hindustan Petroleum with revenues of USD 35 billion (327) and Oil and Natural Gas with revenues of USD 26 billion (449).

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