Mumbai: Reliance Jio Infocomm Ltd (RJio), a subsidiary of Reliance Industries Ltd (RIL), has raised $750 million (around Rs.4,815 crore today) from a Korean lender to fund its ongoing network roll-out under its fourth-generation (4G) telecom licence in India.

The loan, backed by export credit agency Korea Trade Insurance Corporation (K-Sure), was raised on 7 May and is guaranteed by RIL. It will be used to finance goods and services procured from two of its main vendors—Samsung Electronics Co. Ltd and Ace Technologies Corp.

If real estate was your investment idea between January 2007 and September 2014, there was a smarter investment option: buying shares of India’s largest housing finance company, Housing Development Finance Corp. (HDFC).

Had you purchased a house, you would have had to choose your location well: 89 of the 195 location pockets across 25 cities tracked by a price index of the National Housing Bank (NHB) returned less than a bank deposit. Had you bought into a basket of real estate stocks put together by BSE, your investment would have eroded 80%.

New Delhi: Three executives have quit Tata Motors Ltd’s passenger vehicles unit, which under its president Mayank Pareek is trying to engineer a turnaround in the Indian market, where the automobile maker’s market share has halved in four years.

Virat Khullar, who was in charge of product marketing at Tata Motors, left in April and has joined Renault India Pvt. Ltd as head of marketing.

Samsung Electronics has launched a new open platform that it says will make developing smart devices faster and easier. ARTIK includes three circuit boards, software support, developer tools, and embedded encryption for security.

In addition to ARTIK, Alex Hawkinson, chief executive of SmartThings, which was acquired by Samsung last August, also announced SmartThings Open Cloud to help developers create apps for their devices.

MUMBAI: Shares of Adani Power on Tuesday tumbled over 7 per cent after the company reported a 71.72 per cent plunge in its consolidated net profit for the quarter ended March 31, 2015.

After falling 7.48 per cent to Rs 40.15 in intra-day trade on the BSE, shares of the company finally ended 6.91 per cent lower at Rs 40.40.

NEW DELHI: The government is expected to provide a thrust to its ambitious disinvestment programme for the current financial year by clearing stake sale in over half-a-dozen companies including NTPC and IndianOil. The cabinet committee on economic affairs (CCEA) is expected to take a call on stake sale in these two companies on Wednesday.

Sources said the government is looking to sell 5% in NTPC and 10% in IndianOil, which could help mop up around Rs 14,000 crore based on current market price. Coal India too is back on the disinvestment radar although it is not clear if the 5% stake sale is on the agenda for Wednesday's meeting of CCEA.

India’s lenders, most of whom have remained reluctant to grow their credit card portfolios rapidly, are now willing to take on more risks as credit card usage picks up, making it a lucrative business.

As on 31 March, outstanding credit card loans rose 22.6% to Rs.30,500 crore from a year earlier, according to the Reserve Bank of India’s (RBI’s) sectoral credit data, making it one of the fastest growing segments. The increase has been partly driven by the growing popularity of e-commerce.

Apple has overtaken China’s Xiaomi to become the largest vendor of smartphones in the Chinese market. Apple had a 14.7% of market share in the first quarter of 2015, whereas Xiaomi had 13.7% share followed by state-owned Huawei, Samsung and Lenovo, as per a latest report.

The company is in talks with Chinese banks and Alibaba to launch its mobile payment system Apple Pay in China, as Chief Executive Tim Cook told the official Xinhua news agency in an interview.

Microsoft has announced its partnership with a group of telecom companies to build a new transpacific undersea cable that will connect a number of points in China, South Korea, Taiwan and Japan with the U.S. West Coast.

According to the company, the New Cross Pacific (NCP) Cable Network will provide faster connections for its customers and help it compete on cloud cost.

The benchmark BSE Sensex tumbled over 444.65 points in late morning trade today as participants locked in gains after two sessions of gains and ahead of IIP and inflation data to be released later in the day.

The 2-day pullback rally fizzled out as the benchmark S&P BSE Sensex today slumped 444 points to quote at 27062.65 in late-morning deals following weakness in global stocks amid profit-booking by wary operators ahead of the IIP and CPI data to be released later in the day.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.