India refused to yield ground on Tuesday on its spat with the World Trade Organisation and said it believed it could convince other members that its need for more freedom on food subsidies was legitimate.

Trade Minister Nirmala Sitharaman did not give details in a statement she made in parliament, but her comments offered a robust and uncompromising defence of the Indian position, suggesting the government planned to dig its heels in on an issue that has isolated New Delhi.

Financial Technologies India Ltd (FTIL) today said its 15 per cent stake sale in MCX to Kotak Mahindra Bank Ltd for Rs 459 crore was done at "fair" price after conducting a "transparent" bidding process.

The deal with Kotak was announced on July 20 (Sunday) and the transaction price was Rs 600 per share. On July 18 (Friday), shares of Multi Commodity Exchange of India Ltd (MCX) had closed at Rs 786.25 apiece.

India's new government is betting on Prime Minister Narendra Modi to replicate his relative success with regional infrastructure projects to ensure fewer public-private partnerships (PPP) stall for want of land.

The government wants private companies to contribute half of a $1 trillion investment target over five years to 2017 to alleviate clogged-up roads and end electricity blackouts.

NEW DELHI: The S&P BSE Sensex plunged as much as 86 points in trade on Wednesday following muted trend seen in other Asian markets. The fall in the index was led by losses in ITC, HDFC Bank, Tata Motors and L&T.

Tracking the momentum, the 50-share Nifty index also came under some bit of pressure but was trading above its crucial psychological level of 7700.

The Board of Approvals, under the Union Ministry of Commerce, has given its conditional nod to a GMR Group proposal to buy out the 50 per cent stake owned by its partner Malaysian Aerospace Engineering in an aircraft maintenance repair and overhaul (MRO) unit.

The MRO unit is located at an Special Economic Zone (SEZ) near the Hyderabad International Airport. “After deliberations, the board has decided to approve the proposal subject to each entity independently fulfilling the following conditions,” the Board of Approvals said as per the minutes of its recent meeting.

The e-commerce initiative of the Indian Railways Catering and Tourism Corporation (IRCTC) has come to a halt, with private partner Yebhi.com not extending its contract. The two had entered into a revenue sharing partnership about a year ago, with Yebhi's products sold under the IRCTC brand name.

IRCTC had plans to draw people who bought tickets on its site to shop online for products, including clothes and accessories, through its tie-up with Yebhi.

Mumbai's towering billboards, which hawk everything from the latest Bollywood movies to soda, block out more than sunlight. They're also a physical hurdle preventing Air India Ltd. from reaching its potential on what should be one of its most lucrative routes.

The height of the hoardings near India's financial hub means the Boeing Co 777-300ER jets the carrier uses for non-stop flights to Newark, New Jersey, near New York City, must fly 51 fewer passengers, or 15 per cent below capacity, in order to clear these.

Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, is set to launch a $1.5-billion (Rs 9,000 crore) debt issue abroad within weeks of Tata Steel raising over $1 billion.

The funds will be used by Mukesh Ambani's company to refinance its costly debt and to roll out telecom and data services. Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.

It has been only five days since he took charge as Infosys' first non-founder chief executive but Vishal Sikka has already started experiencing the first signs of pressure - from some minority shareholders who were once key executives of the information technology services firm.

Three former senior employees of Infosys -former chief financial officers T V Mohandas Pai and V Balakrishnan and former senior vice-president D N Prahlad - have written to the company's board to "immediately" consider a buyback of shares. They believe the company must do so because there is a "dramatic valuation disconnect" between the shares of Infosys and its peers, and this needs correction.

The executive leadership of the State Bank of India might be in for some reshuffling with two new managing directors being appointed by the Bank recently. The bank promoted two senior executives B Sriram and VG Kannan as managing directors, and this could open up new opportunities for greater promotions within the company, the Economic Times reported. It further said almost six circle heads and chief general managers who had been promoted to managing director levels are now still performing their old duties till the positions of managing directors open up. The managing director and CEO of SBI Life Insurance has retired last month, and someone from the senior leadership will now have to take up that position as well.

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