L&T Infra Finance Private Equity, which is in the process of raising a total of Rs 3,750 crore in an overseas fund and a domestic fund, plans to launch a real estate fund, too. The first two funds will focus on infrastructure assets such as power, roads and renewable energy.

The infrastructure financing non-banking financial company's latest move comes on the back of building a Rs 14,800-crore loan book in the past eight years.

Yamaha Motor India's Rs 1,500 crore new manufacturing plant near Chennai is expected to commence production next month. Meanwhile, the company is also expecting its market share in two-wheeler sector to double from the current 4.5-5% in the next few years, said senior officials from the company.

Speaking to the reporters in the sidelines of felicitating the Indian technician from Tamil Nadu, who won one of the top price at the Yamaha World Technician Grand Prix 2014, Asano Masaki, CEO and managing director of Yamaha Motor India Sales Pvt Ltd said, the facility will be launched in November this year and the commercial production will be from next year onwards.

Benchmark shares indices remained weak in late trades on Wednesday with technology shares declining the most led by Infosys amid reports of downgrade by global financial services major Citigroup.

At 2:15PM, the 30-share Sensex was down 79 points at 26,193 and the 50-share Nifty was down 26 points at 7,826.

The Andaman Sea experienced a deep depression and converted into a cyclone early on Wednesday morning. MeT officials said the system is centered at around 80 kilometers south east of Long Island in northern Andaman as of 5.30 a.m., and is expected to make a landfall shortly before noon. Later, it is expected to drift towards northern Andhra Pradesh and the Odisha coast, where a landfall may take place on Sunday.

Its crossing the coast could herald the onset of the North East Monsoon, even as the South West Monsoon recedes.

Reflecting a record-high success rate for orders passed by Securities and Exchange Board of India (Sebi) in various cases, the number of appeals against these directions have almost doubled at the Securities Appellate Tribunal (SAT) while the count of pleas allowed by SAT halved during the last financial year.

According to the latest details available with regard to cases where Sebi orders have been challenged at SAT, the number of appeals dismissed by the Tribunal rose to 117 in the last financial year (2013-14) from 62 in previous year.

Mobile telecom handset maker Nokia announced it was suspending manufacturing operations in the country within weeks of the Narendra Modi government unveiling a Make-in-India campaign.

The company will suspend operations at its Sriperumbudur plant near here which once employed 8,000 people and still has 1,200-1,500 on its rolls.

Tata Power reported a consolidated net loss of Rs 260 crore in the last financial year, its second highest in the last 10 years. Also its consolidated debt at Rs 40,173 crore, 3.24 times its net worth, was the highest in more than a decade.

In fact Tata Power would rather want to forget the past three years of its century-old existence. "We should be closing this year at a debt-equity ratio of 2.6," said Anil Sardana, managing director of Tata Power, in a recent interaction, displaying a resolve to fight back.

Axis Bank on Tuesday said it has served a notice to Golf Technologies (a Rs 600-crore company engaged in IT services) for failing to repay dues worth Rs 20 crore.

A notice under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act has been issued against the borrower for having defaulted in meeting its repayment obligations and the bank is taking suitable action in this regard, the private lender said in a statement.

Engineering firm Larsen & Toubro (L&T) on Tuesday said it has bagged a contract worth Rs 1,630 crore from the Uttar Pradesh Expressways Industrial Development Authority for the construction of a six-lane access controlled expressway in the state.

The company's transportation infrastructure business has received the Rs 1,630 crore EPC order for constructing a six- lane access controlled expressway from Unnao district to Lucknow, a release issued here said.

As the Karnataka High Court decides today whether AIADMK supremo J Jayalalithaa deserves bail in the 18-year-old disproportionate assets case, a series of xenophobic posters warning Karnataka have been erected across Chennai.

The most disturbing ones even threatened to hold Kannadigas living in the state hostage if Jayalalithaa is not released.

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