Describing India as a “great market”, a top Microsoft executive said the company’s partners in the country are “very progressive” in the way they service the world and the Indian customers adapt to technology a lot faster than those in some other nations.

“We have a great market in India and (it is) super strong. We have really tremendous partners who have been with us for a long time and are transforming very quickly in the cloud infrastructure,” General Manager, Worldwide Partner Group at Microsoft, Gavriella Schuster told PTI here on the sidelines of the Microsoft Worldwide Partner Conference 2015.

State-owned ONGC is in the midst of a programme to drill a total of 45 development wells in the Krishna-Godawari deepwater block KG-DWN-98/2, at a whopping Rs 53,085 crore, which also includes setting up a floating, production, storage and offloading (FPSO) system and a fixed offshore platform, an industry web site said.

When contacted, ONGC officials said the field development plan (FDP) for the KG block was yet to be finalised. They added that ONGC has a deadline to submitted the FDP to the Directorate General of Hydrocarbon by September.

MUMBAI: Shaken by the online shopping frenzy, a string of high-street banks like SBI, Axis and Yes will launch mobile wallets to take on pre-paid issuers like Paytm and MobiKwik who lure customers with easy payment option and attractive retail offerings.

M-wallets — electronic saving accounts that can be used for shopping using mobile handsets — would help banks overcome the edge that pre-paid users have.

Shares of Maruti Suzuki India were trading higher by 2% at a life-time high of Rs Rs 4,120, extending their nearly 3% gains in the past two trading sessions on the BSE, on expectations of strong financial results for the quarter ended June 30, 2015 (Q1).

The stock has hit a record high of Rs 4,138 in intra-day so far. The stock has rallied 24% thus far in 2015, compared to a sub-2% rise in the S&P BSE Sensex.

The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms, a BSE official said on Tuesday.

The Securities and Exchange Board of India (Sebi) last year imposed a quota of at least one female director on the board of every listed firm, and warned of "very serious" consequences if the thousands of companies did not comply by an April 1 deadline.

Reliance Industrial Infrastructure Ltd (RIIL) has reported a net profit of Rs 4.44 crore for the first quarter of this fiscal, down 20.8% from the year-ago level.

The total revenue, however, rose by 13.9% to Rs 26.54 crore in the quarter, the company said.

Tata Motors, India's fifth largest car maker, is ready to experiment with new products, which it says would address white spaces in the passenger vehicle segment and help it reclaim lost market share.

The company has lined up a series of new products in the hatchback, sedan and sport utility vehicle segment, in line with its promise of launching at least two new products every year.

In an effort to ensure a uniform model for engaging private players in mining to boost output, the coal ministry would be coming up with a model mine development operator (MDO) agreement. Apart from Coal India Ltd (CIL), which would engage private players according to the new MDO model, this would also serve as a guideline for state government-run miners as well, for selecting private operators.

Grameen Capital India today announced that L&T Finance has acquired 26% stake in the company for an undisclosed amount.

Grameen Foundation, Citicorp Finance, Amit and Arihant Patni are the other shareholders in the company.

Volvo Buses, the bus making unit of Swedish auto maker Volvo Group, on Tuesday said it will begin this month exporting fully made buses for Europe, the first from an Asian country to its home market.

Volvo plans to utilize the existing manufacturing capacity at its unit, on Bengaluru outskirts, leverage the component supplier base and the low cost talent to offer buses at “ competitive” costs to its inter-city bus customers in Europe.

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