It not only offers transportation facility to the users but also provides delivery services. Jugnoo has a userbase of more than 80k currently, and processes about 2500 transactions per day, 30% transactions are hyper local.

Notably, just a couple of months back, in April beginning, the company had raised $1m from Rajesh Mathur (Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group, previous investments include Rapportive, PubNub), Kirloskar Bros and others in a seed round.

Benchmark indices are trading firm amid choppy trades aided by metal, capital goods and defensive sectors like pharma and FMCG. However, the upside is capped due to selling pressure among financials and index heavyweight shares like ITC and RIL.

At 13:08 PM, the 30-share Sensex was up 139 points at 26,949 and the 50-share Nifty gained 40 points at 8,171.

Leading exchange BSE will auction Monday investment limits for foreign investors to buy government debt securities worth Rs 654 crore.

The auction will be conducted on BSE's e-bidxchange platform from 1530 hours to 1730 hours after close of normal market hours on June 8, the exchange said in a circular today.

Shares of Coal India have rallied more than 4.5% to Rs 405 on the Bombay Stock Exchange (BSE) after production of the company in May rose by about 13% as against the corresponding period previous year.

Also, the government has announced that it will be resuming coal block auctions by offering 10 mines with a total annual production of 13.14 million tonnes to cement, steel and aluminium companies and captive power producers. The ministry of coal will auction linkages to Coal India’s production for the span of five years.

Idea Cellular has rallied nearly 3%, or Rs 5, to Rs 179 levels on the Bombay Stock Exchange (BSE) around 12 noon on reports that the company has hiked mobile data rates by up to 100% for pre-paid customers in the NCR region.

According to a Times of India (TOI) report, the country's third largest telecom operator has doubled the price for some 2G plans, while 3G will be costlier by about 33%.

After two years, the Bombay High Court passed an order in the YES Bank and Madhu Kapur case on Thursday. However, the order is yet to be made public. The judge has asked the two parties to go in for a further round of mediation. Both parties will receive a copy of the order and the round of mediations will be based on it. The next hearing is scheduled for June 17.

In 2013, the dispute between the promoters of YES Bank over board-level appointments had come to light ahead of the bank’s annual general meeting (AGM). The judgment was passed two days ahead of the AGM scheduled on Saturday.

Microsoft on Thursday said it had set up three data centres in this country. With these, the Redmond-headquartered software major expects to be better equipped to target sensitive sectors like government and financial services. where there is always fear on data privacy.

Every year, Microsoft invests around $5 billion in setting up data centres and towards their operations. The centres have the ability to scale up further without much of physical expansion.

Facebook on Thursday released a ‘Lite’ version of its application that was tailored for people using Android smartphones in places where wireless data bandwidth is scarce.

Facebook Lite was built to use less data and work well despite potentially constrained telecommunications network conditions in developing countries, according to the California-based online social network.

Snapdeal on Thursday launched a ’90 minutes reverse pick-ups’ with its logistics partner, gojavas.

Using the service, Snapdeal customers wishing to return or replace their online orders will be reached within 90 minutes of intimation, Snapdeal said in a statement.

Car market leader Maruti Suzuki is planning to bring new green technologies, which could include parent Suzuki’s mild hybrid system and downsized direct-injection turbo petrol engine to cut emissions by enhancing fuel efficiency.

The company said fleet emissions of carbon dioxide had been down by over 11.6 per cent in the last five years and it would continue to work to bring it further down to promote clean air benefits. “This has been possible through fuel efficiency improvements, reduction of exhaust emissions and development of alternate fuel products during this period, the company said in a statement.

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