Reliance Industries and its partner BP plc have surrendered two more oil and gas blocks, reducing their tally to four exploration acreages from 21 they held four years back.

"During the year, RIL opted to relinquish two blocks KG-DWN-2003/1 and CY-PR-DWN-2001/3 as part of the ongoing effort to high grade its upstream asset portfolio," the company said in its annual report for 2014-15.

No-frills carrier SpiceJet today claimed its bookings surged by 400 per cent on day one of its three-day special airfare offer “Celebration”, in which the airline has announced an all-inclusive ticket at a price as low as Rs 1,010 on its domestic network to celebrate 10 years of operations.

SpiceJet has witnessed an overwhelming response to its latest “Celebration Sale” with bookings volumes jumping by a whopping 400 per cent on day one of the sale as compared to a normal day, the airline said.

Calling for support to Prime Minister Narendra Modi, Infosys co-founder N. R. Narayana Murthy on Wednesday said a lot of good things have happened in the past year and all political parties and citizens should “rally behind the PM.”

“We have a PM who is enthusiastic and is working hard... People, all parties and opposition should rally behind him,” he said.

Lenovo just completed its first full quarter of business as the owner of Motorola and, with its $2.91 billion acquisition from Google under its wing, the Chinese company shipped a record 18.7 million smartphones in its most recent Q4 2014 quarter.

That figure included 7.8 million smartphones from Motorola, and represented an increase on the 16 million devices that Lenovo shipped in the previous quarter. For its entire year, the company said it shipped a best-ever haul of 76 million smartphones.

NEW DELHI: State-run generation utility NTPC is taking over the Raghunathpur project of DVC, once the powerhouse of the east with a capacity of 5,800 mw which has fallen into hard times and staring at financial dead end due to years of bad management.

Government sources told ToI power ministry has scheduled a meeting of NTPC and DVC managements on the terms and conditions for taking over the project located in Purulia district of Bengal.

Mumbai: Bajaj Auto Ltd’s net profit dropped 18.5% to Rs.622 crore from Rs.764 crore a year ago for the quarter ended 31 March, as it sold fewer motorcycles in domestic and overseas markets.

The earnings lagged market estimates. A Bloomberg poll of 31 brokerages had estimated a net profit of Rs.668 crore.

New Delhi: The department of telecommunication (DoT) is likely to abandon its plan to set up Wi-Fi hot spots in 25 cities as it is too expensive, a DoT official said on Wednesday.

It is now exploring other ways to execute it as its internal estimates found that it would need Rs.10,000 crore to implement and another Rs.2,000 crore a year for the first five years for maintenance.

Auto major Mahindra and Mahindra (M&M) today signed a definitive agreement with Tokyo-headquartered Mitsubishi Heavy Industries (MHI) to acquire 33% stake in its agri subsidiary for $25 million (approximately Rs 158 crore).

"Under the definitive agreement signed today, Mahindra will invest $25 million for acquiring 33% voting stake in MHI subsidiary, Mitsubishi Agricultural Machinery Company (MAM) Ltd, through fresh issue of common shares and Class A shares of (MAM)," Mahindra said in a BSE filing.

US President Barack Obama, who signed up for his Twitter account (@POTUS) two days ago, has broken a Guinness World Record, he gained 1 million followers in less than 5 hours. Previously, this record was formerly held by actor Robert Downey Jr., who hit 1 million in 23 hours and 22 minutes in back April 2014.

The US President already has the account @BarackObama, which has nearly 60 million followers. However, this new @POTUS account is associated with the presidential office. In his tweet Obama puts it as, “The handle comes with the house.”

State Bank of India is aggressively trying to grab a piece of the business in the digital commerce space.

The country's largest lender on Wednesday signed a memorandum of understanding with Amazon to develop payment and commerce solutions for customers and small businesses.

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