Benchmark indices have extended losses and are trading near day’s lower dragged by index heavyweight shares like Tata Motors, ITC and HDFC.

By 14:05, the Sensex was lower by 156 points at 27,489 and the Nifty slipped by 45 points at 8,325.

NEW DELHI: The Tata Group has virtually ruled out re-acquiring Air India when the government decides to divest in it.

"That was 14 years ago (when Tatas were keen on buying back AI.) Not now," Tata Sons-Singapore Airlines (SIA) JV Vistara chairman Prasad Menon told TOI.

Snapdeal, one of the largest e-commerce players in India, has snapped up MartMobi for an undisclosed amount. Based in Hyderabad, Martmobi helped vendors build mobile apps and sites. Snapdeal said the acquisition will help improve its mobile experience for sellers and customers on its marketplace.

India is Asia’s fastest-growing smartphone market, according to IDC, and mobile is the first point of access for many Internet users. For e-commerce platforms, this means it is essential to make mobile apps and sites that are not only easy to browse and purchase from, but also navigable for vendors managing large amounts of inventory and transactions.

Bengaluru: The Wipro Group, which comprises listed software services company Wipro Ltd and two privately held companies, has inducted Rishad Premji, son of billionaire chairman Azim Premji, to its highest decision-making body, the group executive council (GEC).

Rishad Premji, 38, was earlier this month brought on board the GEC, which shapes strategic priorities for both the information technology (IT) and non-IT business of Bengaluru-based Wipro, said a person familiar with the development.

Mumbai: Mukesh Ambani’s Reliance Industries Ltd (RIL), which runs the world’s biggest single-location refinery at Jamnagar in Gujarat, more than doubled its product and feedstock hedging in the last fiscal year as a volatile crude exposed risks of huge inventory losses for crude oil refiners.

In 2014-15, RIL hedged a total of 308.71 million barrels annually or 0.85 million barrels per day (bpd) of its feedstock. This is against a total crude oil consumption of 1.32 million bpd that the company needs to run its refinery. This is more than double what RIL hedged in 2013-14, at 150.95 million barrels a year or 0.42 million bpd, according to the standalone numbers in the firm’s annual report released last Wednesday.

Bengaluru/New Delhi: Amazon.com Inc. is famed for its customer obsession: driving prices lower, offering the widest range of products and delivering them faster to its customers. Since launching in India in June 2013, Amazon has applied the same strategy in the country, adding millions of customers and quickly becoming the biggest threat to local rivals Flipkart and Snapdeal.

In the process, the world’s largest online retailer has antagonized at least some third-party sellers or independent merchants that hawk their products through the Amazon.in website. Some of them say that in its obsession with pleasing customers, the company is squeezing sellers hard by putting in place stringent policies on product returns, closing down seller accounts and withholding payments for weeks.

NEW DELHI: A year in office, the Modi government is keen to revive state-owned enterprises BSNL and MTNL, even as they face stiff competition from private players.

BSNL that operates across the country including in remote areas, had posted a profit of Rs 10, 000 crore when the Atal Bihari Vajpayee government left office in 2004, but "when we returned to government in 2014, it was suffering from a loss of Rs 7020 crore," Telecom Minister Ravi Shankar Prasad told TOI.

MUMBAI: PNC Infrastructure listed at Rs 387, a premium of 2.38 per cent, against issue price of Rs 378 on the National Stock Exchange. However, the stock plunged 7.14 per cent below the issue price to touch intraday low of Rs 351 on the back of weak market sentiment.

PNC Infratech is Agra-based infra player having focus on roads & highways construction. In FY2012, it diversified into BOT-Toll & Annuity projects and in FY2014 into OMT projects.

The British telecom major Vodafone is reportedly planning to launch IPO of its Indian arm to raise about $4 billion next fiscal.

The company has appointed NM Rothschild as its consultant to work on roadmap and the paperwork for the public offering will be completed by the end of ongoing financial year, as per reports.

The benchmark BSE Sensex fell further by over 40 points in early trade today, extending its yesterday's slide due to continued selling by participants amid mixed Asian cues.

The 30-share index was trading lower by 40.86 points, or 0.14%, at 27,603.02, with stocks of oil & gas, power, realty, PSUs, auto and IT sectors pulling it down.

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