Banking shares are trading higher by up to 6% in early morning deals on National Stock Exchange (NSE) after consumer price index (CPI)-based inflation fell to 7.31% in June, the lowest since its launch in January 2012.

Its wholesale counterpart declined to a four-month low of 5.43% in the month and wholesale price inflation eased to a four-month low in June after the new government curbed farm exports.

Works on the much-awaited MMTS (multi-modal transport system) Phase-II project in the twin cities of Hyderabad and Secunderabad will commence this month, according to PK Srivastava, general manager, South Central Railway (SCR).

The joint venture partners, who have been awarded the project, have already deposited the requisite performance guarantee amount with Rail Vikas Nigam Limited (RVNL), clearing the decks to launch the field works on the project.

In a bid to improve its market position in the Indian two-wheeler market, TVS Motor Company is gearing up to spruce up its launch pipeline. It plans to launch one vehicle every three months for the next three years. The company, which has often been criticised for not launching two-wheelers frequently, said the time-lag between launches is “by design and not by accident”.

The government imposed an additional penalty of $579 million on Mukesh Ambani-controlled Reliance Industries Ltd (RIL) for failing to meet the gas production target for its flagship KG-D6 block in 2013-14 as well, Petroleum Minister Dharmendra Pradhan said on Monday.

The fresh penalty, the first imposed by the new Narendra Modi-led government, is in addition to the existing fine of $1.80 billion slapped on the company for production shortfall in earlier years — $457 million for 2010-11, $548 million for 2011-12 and $792 million for 2012-13.

Small Industries and Development Bank of India (SIDBI) will fund to the tune of nearly Rs 1000 crore this financial year to microfinance institutions, against nearly Rs 600 crore last year.

With additional funding, Sidbi's exposure to the MFI sector would be close to Rs 2500 crore by the end of this financial years, against Rs 2000 crore at present, said N K Maini, deputy managing director, Sidbi, recently.

ICICI Bank, the largest private sector lender in the country, has outpaced its rivals in growing its credit card base during financial year 2013-14 (April-March). The lender, which had reduced its unsecured lending following the global financial crisis, has now started offering credit cards selectively to individuals who did not have a prior banking relationship with it. But its primary focus remains offering cards to its existing customers.

GMR Infra, a publicly held firm that manages the Delhi international airport, is set to kickstart the second phase of monetisation of its 230-acre land parcel near the airport. The price it might get for its land is estimated to tip over Rs 100 crore per acre and go in the range of Rs 105-110 crore an acre.

In the first phase of monetisation in 2009, GMR had sold 45 acres of the parcel at Rs 75-90 crore an acre to various hospitality majors. This time, it could try to get approvals for also selling to other players besides hospitality ones.

The union budget did not have any direct schemes for pipe industry, but several measures announced in the oil & gas, solar power, water and sanitation space are likely to drive domestic pipe demand.

Most significantly, the FM proposed to create additional 15,000 kilometre of pipelines using PPP (public-private partnership) model to complete the gas grid across the country and increase the usage of domestic as well as imported gas.

Ever since the Society of Indian Automobile Manufacturers (SIAM) announced a voluntary recall policy in 2012, carmakers have resolved defects in more than half a million vehicles.

BERLIN: Even normally quiet streets were electrified early Monday by Germany's dramatic 1-0 win of the World Cup in extra time, a victory that symbolized, at least to fans, not just the country's dominance of Europe, but its global prominence. Car horns and vuvuzelas honked, and fireworks and firecrackers exploded.

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