Shares of oil marketing companies (OMCs) were in focus and trading higher on the bourses in otherwise subdued market after these companies announced Rs 0.64 a litre increase in petrol prices and a Rs 1.35 per litre cut in diesel prices to align the domestic rates with global price benchmarks.

At 0953 hours, Hindustan Petroleum Corporation (HPCL) was up 2.3% at Rs 710, also its 52-week high on the BSE. Indian Oil Corporation (IOC) up 2% at Rs 361 and Bharat Petroleum Corporation (BPCL) up 1.6% at Rs 847.

State Bank of India (SBI), the country's largest lender, on Monday paid Rs 1,290 crore as advance tax for the first quarter of the current financial year, a rise of four per cent over the same period last year.

“We have paid Rs 1,290 crore as against Rs 1,240 crore (in the first quarter of the last financial year),” a bank official, who declined to be identified, said.

The Mahindra Group on Monday clinched a multi-million dollar aerospace contract with European consortium Airbus at the Paris Air Show, marking a major milestone in the Make-in-India initiative.

Mahindra Group subsidiary Mahindra Aerospace bagged the multi-year aero-components manufacture and supply contract.

First it was the textile business. Then came petrochemicals and then oil & gas. Now, retail and telecom are the trend. Reliance Industries (RIL), India's largest private sector company, has been changing its own focus to keep pace with the changing times.

“We don’t want be called a lala (traditional family-managed) company. Every five-to-six years, one has to re-discover. If we don’t, we will be lagging behind. Had RIL been a textile company even now, it would have perished like many other textile players have,” said an RIL official.

Google Play has rolled out a new service where it is giving away paid apps for free and is called ‘free app of the day’. This new scheme for the time being, applies only to the family section of the Google Play Store.

During Google’s I/O developer conference last month, it had announced that the company is planning to make family-friendly apps easy to find on its app store.

State-owned BHEL today said it has commissioned NTPC's 800-MW Koldam hydro power project in Mandi district of Himachal Pradesh.

"Bharat Heavy Electricals Ltd (BHEL) has successfully commissioned all the four units of NTPC's 4x200 MW Koldam Hydro Electric Project (HEP) in Himachal Pradesh," BHEL said in a statement.

Reliance Communications (RCOM) and AFK Sistema have entered into exclusive discussions on a potential merger between the Indian telecom business of Sistema Shyam TeleServices and Reliance Communications through a stock swap.

The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary. There is no certainty that any transaction will result, said RCom in a statement.

NEW DELHI: Air India is raising up to $350 million to meet its working capital requirement through the external commercial borrowing (ECB) route.

In 2012, cash-strapped Indian carriers were allowed to raise up to $1 billion through ECB route for working capital requirements. "A big private airline has availed of $300 million and another has taken $50 million this way. The balance that remains is $650 million. AI is going to raise $300-350 million for meeting its working capital requirement for spare parts," said a senior official.

New Delhi: The timings for booking Tatkal tickets in AC and non-AC classes will change from Monday as the Railways has staggered the schedule to reduce the load on the ticketing site and booking windows.

Currently, the booking under Tatkal scheme opens at 10am on the previous day of journey from train originating station. “It has been decided that from June 15, timings for booking of Tatkal tickets will be staggered for AC and non-AC classes to 10am onwards and 11am onwards, respectively,” said a senior railway ministry official.

Alibaba Group Holding Ltd is all set to launch a Netflix-like digital entertainment service. The online video streaming service will be rolled out in the next couple of months and will be called TBO-Tmall Box Office.

The dashboard would be furnished with content bought from China and other countries as well as in-house productions (Ali-house), confirmed Patrik Liu, President, Alibaba Group’s digital entertainment business unit.

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