Petroleum Minister Dharmendra Pradhan on Friday reviewed the performance of oil marketing companies for the relaunch of Direct Benefits Transfer in liquefied petroleum gas (LPG) scheme.

The Union Cabinet had, on 18 October, approved the launch of the scheme aimed at cutting LPG subsidies as well as getting rid of diversion of subsidised cooking gas for commercial purposes. The scheme would be launched in 54 districts across the country in mid November.

Tata Motors, India’s biggest automaker, is set to raise $750 million (Rs 4,600 crore) in what could be its second fund raising activity this year.

The Mumbai-based company will reportedly issue $750 million of senior unsecured notes, according to Bloomberg.

NEW DELHI : Hyundai is set to give an upgrade to the Verna sedan, which has been rattled by the strong showing of the new Honda City and good response to the newly-launched Maruti Ciaz.

Sources said the country's second-biggest carmaker is giving a mid-life upgrade to the fluidic-design model, which was first introduced in May 2011.

AHMEDABAD: If you are boarding a flight from the city airport on Friday or Saturday be prepared for increased security checks. Ahmedabad and Mumbai airports have been put on a high alert following an intelligence input which states that suicide bombers will try to board two Air India flights in the wee hours on Saturday. As per the letter from Bureau of Civil Aviation Security (BCAS) headquarters in New Delhi, a copy of which Ahmedabad Mirror has access to, suicide bombers could board Air India's Ahmedabad-Mumbai and Mumbai-Kochi flights scheduled for early morning departure on Saturday.

Mumbai, Oct. 23 (PTI): Domestic financial institutions led by state-owned LIC and mutual funds, who together hold around 14.49 per cent in Maruti Suzuki, are likely to firm up their stance on Maruti’s Gujarat plant after the auto major’s shareholders meeting next month.

The meeting is expected to discuss Maruti’s plans to set up a car plant in Gujarat as a fully owned subsidiary of its Japanese parent.

New Delhi: Wipro Ltd, India’s third largest software services exporter, posted a lower-than-expected fiscal second-quarter profit after effecting wage increases in the preceding quarter and taking a hit from adverse exchange-rate fluctuations.

Net profit rose 8% to Rs.2,084.8 crore in the three months ended 30 September from a year ago. Revenue rose 8% to Rs.11,816 crore from a year earlier. In dollar terms, net income was $337 million on revenue of $1.9 billion.

Like all politicians, Narendra Modi promised more than he could deliver while campaigning to become India’s prime minister. Critics are now making him pay. Earlier this week, a furor erupted after Modi acknowledged a setback in efforts to recover the billions in illicit, untaxed “black money” stashed abroad in foreign bank accounts. After lambasting the previous Congress-led government for failing to make public a list of Indian account holders in Liechtenstein’s LGT Bank, he admitted he couldn’t do so either because of confidentiality requirements in an existing agreement with Germany.

Govt expects to save Rs 55,000 cr on fuel subsidy as global oil prices go down. Up on the Raisina Hills, top officials sitting in at least one of the colonial structures that house key government ministries, must be breathing a sigh of relief. At a time when budget preparations for 2015-16 in the North Block have started, finance ministry mandarins are confident that the country will better the macroeconomic targets as they expect the government to save almost Rs 55,000 crore on the fuel subsidy, on account of low global oil prices.

SBI Mutual Fund on Thursday said it had launched an inflation-indexed bond fund (IIBF) offering, which is aimed at investors with a low to medium risk profile, looking at a hedge against price rise.

Under the open-ended debt scheme, SBI Mutual Fund will invest in inflation-indexed securities and actively manage a portfolio of predominantly inflation linked bonds (IIBs), it said in a statement.

It may have a stranglehold on the sports utility vehicle market, but Mahindra & Mahindra (M&M) has struggled to get even a toehold in the two-wheeler business. Taking the problem by its scruff, it has now negotiated an agreement with France’s Peugeot Motorcycles in which it will spend out euro 13 million (Rs 100 crore) for a 51 per cent controlling equity.

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