Industrial conglomerate Larsen & Toubro Ltd will list its IT services unit L&T Infotech by December this year, Chairman AM Naik told CNBC TV18 on Tuesday.

The company, which has been looking to exit non-core businesses, will sell a 10% stake in the unit, Naik said in an interview to the business news channel.

After moving the retail end of the business to the mobile, HDFC Bank has started offering banking solutions on the go even for its wholesale banking customers. Customers can now use the mobile banking application for carrying out operations such as bank guarantee, letter of credit, remittances and bills processing, among others.

Bhavesh Zaveri, country head-operations and cash management product, HDFC Bank, said the idea behind launching Trade Finance on Mobile — a facility that will provide end-to-end digitisation of trade finance transactions, including last mile authorisation of these transactions — is to provide ease to customers and increase the speed of transactions.

Public sector lender Bank of Baroda (BoB) is making a course correction in its strategy for overseas business. While it prides itself as “India’s international bank”, its branch presence in India’s neighbourhood has been weak.

This plan seems to be in tune with the government’s strategy to scale up economic, trade and commercial relations with all nations with which India shares its borders.

GenX Nano, the new avatar of Tata Motors’ Nano, has travelled quite a distance in a month of its launch. The company has delivered 1,000 cars to buyers and is in the process of delivering another 2,000 units. The car was launched on May 19. The response compares favourably with an average monthly sale of 1,400 cars that the previous version clocked last year. The production of the earlier version (barring the CNG model) has been discontinued.

Priced at Rs 1.99 lakh (ex-showroom, Delhi) for the manual transmission (MT) version and Rs 2.69 lakh for the automated manual transmission (AMT) version, the GenX Nano is still the most affordable passenger car available in the country.

NTPC, India's largest state-owned power generator, is restructuring many of its divisions, the first such remodelling since its inception. The company, which has several divisions across power generation - conventional and non-conventional sources, power and fly ash trading, equipment sourcing and consultancy -, is merging existing units and creating new ones.

Sources in the know say pursuant to discussions with the power ministry, several defunct memoranda of understanding (MOUs) that the company has signed with states to facilitate power development and purchase will be nullified.

JAIPUR: Gujarat, which remained the undisputed leader in solar energy generation till recently in the country, has finally been left behind by its close rival Rajasthan, and given the number of projects in the pipeline, the desert state is likely to retain the honour for quite some time to come.

According to data released by the Union ministry of new and renewable energy on June 4, 2015, Rajasthan has grabbed the number one position in the country with an installed capacity of 1,167 megawatt against Gujarat's 1,000 MW.

The benchmark BSE Sensex opened on a positive note on Tuesday and rose 109.61 points or 0.39 per cent to 27,839.82, taking cue from the global market trend which has shown a steep rise bolstered by hopes that Greece’s latest budget proposals would stave off a debt default and lead to a deal with lenders later this week.

It slipped into red for a bried period in monring trade. At 9.27 am, BSE Sensex was down 4.61 points at 27,725.60. Similarly, Nifty was down 2.25 points at 8350.85 during the same time.

Reiterating the goal of $20 billion in revenues by 2020, Infosys CEO Vishal Sikka on Monday unveiled a strategy that includes a visa-independent delivery system, entailing hiring a higher number of local employees in overseas locations.

Addressing shareholders at the Infosys’ 34th Annual General Meeting, Sikka said the company is vigorously renewing its existing “bread and butter” services business through better internal operational efficiencies.

The boardroom challenge to CEO & primary shareholder (~11.8%) Rana Kapoor from the family of a copromoter (~10.3%) has got some closure with the Bombay High Court’s ruling. It validates Kapoor’s term and role as CEO (and does not grant the challenger a board seat) – key for the business, and leaving it largely business-as-usual for YES Bank. It does however annul the appointment of three executive directors, and seeks procedural reviews for four others. While the legal tussle is not necessarily over, it should not impact the business or the stock.

In a bid to facilitate supply of coal to medium and small scale enterprise (MSME) sector, Coal India Ltd. (CIL) held a meeting with the State Governments recently at its headquarters in Kolkata. This was the first time that such a meeting was held. CIL earmarks about 8 million tonnes of coal annually, sold at notified prices, to MSME sector which constitutes brick kilns, food processing industry, lime factories, smokeless fuel plants, coke oven units and other small industries that rely on coal for their manufacturing process.

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