Stepping up efforts to reduce usage of paper, Railways have decided to introduce paperless mobile ticketing system in premium trains like Rajdhani and Shatabdi services.

Currently, the paperless ticketing system is operational in unreserved ticketing for commuters in Egmore and Tambram suburban section in Chennai on a pilot basis.

Disgraced businessman Vijay Mallya might be on the run but soon he might be running out of places to hide. Documents accessed by dna show that when Mallya had complete control over United Spirits Ltd (USL), almost Rs 170 crore were diverted from USL to the accounts of his Indian Premier League (IPL) team Royal Challengers Bangalore (RCB).

The transfer of funds was masqueraded as an allotment of his IPL team's shares to United Spirits Ltd, of whom Mallya was the principal promoter at the time of the transaction. The shares were allotted by RCB to USL on March 11, 2011. Nominal shares worth Rs 10 were allotted to USL for an astounding sum of Rs 3,62,240 per share. That was an astronomical self-valuation of an IPL team which was barely three years old as a brand. The allotment of fully paid up shares at such a premium meant that Rs 170 crore were diverted from USL's account into RCB's accounts that year.

State-run telecom company Bharat Sanchar Nigam Ltd (BSNL) is in discussions with MTS, the Indian unit of Russian telecom company Sistema, to offer fourth generation, or 4G, telecom services across the country, through joint branding.

"We are in the final stages of discussions with MTS and are awaiting the government's policy on spectrum sharing and trading, expected to be announced soon," a senior BSNL official told Business Standard.

India’s second largest information technology (IT) services provider, Infosys, has abandoned plans to develop its second centre in Thiruvanthapuram’s Technocity. Senior executives said lack of infrastructure at the project site was why.

Ramadas Kamath, executive vice-president at Infosys, who heads infrastructure, facilities and administration, confirmed a letter from Infosys had been sent to the Technopark authorities conveying the decision.

State-run petroleum explorer Oil and Natural Gas Corporation (ONGC) on Thursday reported a 19.5 per cent decline in standalone net profit for the quarter ended March 2015 on higher operating costs, lower prices and write-offs of dry wells that did not result in any discovery.

The company posted a net profit of Rs 3,935 crore for the fourth quarter of 2014-15 as compared to Rs 4,889 crore in the corresponding quarter previous fiscal. The profit was way below Bloomberg consensus estimate of Rs 5,620 crore.

Utility vehicles maker, Mahindra and Mahindra Limited (M&M), is planning to launch nine vehicles, including refreshes and all-new models, in both the personal and commercial segments during this financial year, according to Ashish Malik, vice-president (marketing, automotive division).

“The XUV500, launched in September 2011, has taken the Indian automobile industry by storm. More than 100,000 units were sold within three years of its launch, and we are currently selling 3,000 units of the XUV month-on-month,” he told mediapesons at the launch of the 2015 XUV500 facelift in Hyderabad on Wednesday.

IT giant Tata Consultancy Services (TCS) has been rated as the best company in India on various financial and operational parameters by Dun & Bradstreet.

The list of top 500 firms places Reliance Industries and ITC at the second and the third spots respectively.

India's top energy explorer Oil and Natural Gas Corp reported a 20% drop in quarterly net profit on Thursday.

ONGC said net profit was Rs 3,935 crores in its fiscal fourth quarter to March 31, down from Rs 4,889 crores a year earlier.

In a move to encourage online purchasing and selling, Google has confirmed it would provide an option to buy products directly from its search page, according to media reports.

The Wall Street Journal quoted Chief Executive Officer Omid Kordestani as saying: “There’s going to be a buy button. It’s imminent.” The CEO said this at a technology conference on Wednesday. The button is reported to appear on Google’s paid product listing ads.

Less than one-tenth of analysts have registered with Sebi so far even as the deadline for registrations ends on 31 May, 2015.

Sources said that the number of analysts registered with Sebi so far could be lower than 500 as many analysts are still sending in applications for the registration.

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