Mumbai: Maruti Suzuki India Ltd will export a premium compact car, which it expects to launch this year, to Japan, competing with Ford Motor Co. to become the first car maker to sell a made-in-India automobile in a first-world market.

The plans to export the car, code-named YRA, were revealed by two people familiar with the matter, speaking on condition of anonymity. A spokesperson for Maruti said in an email that the company would not comment on future plans.

As per the monthly generation data released by CEA (central electricity authority) NTPC saw a 7% y-o-y decline in generation for Q1FY16. NTPC generated 22% of the power generated by all power plants in India during Q1FY16.

Meanwhile, there was a 12% y-o-y increase in generation by the private generation companies post a 20% increase in their generation capacity during Q1FY16. Thus there was a 670 bps y-o-y decline in the plant load factor (PLF) for NTPC coal stations and 400 bps y-o-y decline in PLF for the private thermal stations including both coal as well as gas stations during the same period.

MUMBAI: ICICI Bank may sell its housing finance arm, ICICI Home Finance, to investors such as private equity funds, according to people close to the development. The bank may be expecting a valuation of around $700 million, or Rs 4,400 crore, according to two potential investors who have been approached.

Citibank has the mandate for the transaction, said the people cited. The bank had invited the investment bank to pitch for the mandate three months ago and the decision to appoint Citibank was taken about a fortnight back.

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked the market regulator to stick to its rules governing related party transactions (RPT). IiAS has slammed the recommendation by the ministry of corporate affairs (MCA) to dilute the Securities and Exchange Board of India (Sebi) rules as an anti-investor move.

The MCA had asked Sebi to align its provisions regarding RPTs with the Companies Act 2013. “IiAS believes Sebi should hold its own. Sebi’s provisions on related party transactions protect minority interest, while MCA has diluted its position to promote the ‘ease of doing business’,” the firm said in a report on Thursday.

In line with its strategy to tap opportunities in the digital space, Wipro on Thursday said it would acquire Designit, a Denmark-based global strategic design firm, for Euro 85 million (Rs 595 crore, or $94 million). The all-cash deal will also have a component of deferred payment, to be payable through the next three years, upon the acquired entity achieving certain milestones.

The acquisition is expected to strengthen Wipro Digital, the company’s digital business unit (set up in March this year).

Tata Consultancy Services (TCS), India’s largest information technology services provider, beat consensus estimates on net profit and margin for the quarter ended June. But revenue growth in dollar terms was below the Street’s estimates.

A major positive was volume growth of 4.8 per cent, which followed disappointing performances on this front in the past few quarters, though it was lower than 5.7 per cent in the first quarter of FY15 and 6.1 per cent in the year-ago period. For TCS, the first half of a financial year is generally stronger from a growth perspective.

Country’s largest car maker Maruti Suzuki India today said its compact car Celerio has achieved one lakh sales mark in the domestic market in less than 1.5 years after its launch in the country.

Launched in February last year at the Delhi Auto Expo, Celerio is credited with introducing auto gear shift technology in the Indian automobile industry.

IT major Tata Consultancy Services reported a 3.3% sequential decline in profit after tax at Rs 5,709 crore in the April-June quarter and on annual basis it declined 13%.

It may be recalled that in the previous quarter ending March 2015, the company announced a cumulative bonus payout of Rs 2,628 crore to employees. If the payout is not factored in, profit for the quarter stands at Rs 5,906 crore.

Indian data to be released in coming days is likely to show consumer price inflation nudged up slightly in June and factory output growth little changed in May, pointing to a gradual improvement in industry, according to a Reuters poll.

The median forecast from a survey of 30 economists this week put inflation at 5.10 percent in June compared to May’s 5.01 percent.

MUMBAI: Government owned State Bank of India and second largest private bank HDFC Bank are most active in addressing customer complaints and queries on social media while Yes Bank has the highest market share of buzz on social media, says a report released by Simplify 360. The report analysed 9 banks wherein it collected data and counting the mentions for each company on Twitter and Facebook.

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