Mumbai: Peak production from Reliance Industries Ltd’s (RIL’s) gas reserves in the Krishna-Godavari (KG) basin may hit 45-50 million standard cubic metres per day (mscmd) in the next five years, said two executives of the company familiar with the estimates.

To be sure, this is far lower than the earlier estimated peak output of 80 mscmd, but is much above the 13 mscmd that RIL is currently producing from the block.

An Indigo flight from Bagdogra came close to a descending Air India plane over Bagdogra in West Bengal this afternoon, raising the spectre of a collision and giving scare to about 250 passengers on board the two aircraft.

The Air Traffic Control (ATC) had given clearance to both the aircraft, according to Indigo airline spokesperson.

Soft drink manufacturers such as Coca-Cola and PepsiCo have always been vulnerable to any increase in price. That is because people tend to cut consumption whenever there is a price revision and, as a result, sales volumes take a hit.

Budget 2014-15 has increased the excise duty on flavoured water, as well as aerated water with sugar content, from 12 per cent to 17 per cent - a 40 per cent rise, the highest ever in the past decade. As a result, the sector is expected to take a hit of over Rs 600 crore on an annualised basis.

Top bankers have welcomed the finance minister’s announcement in the Union Budget on infrastructure loans. It has met an old demand.

The minister said banks would be exempted from maintaining the cash reserve ratio (CRR), statutory liquidity ratio (SLR) and priority sector lending target on funds raised to finance infra loans.

After close to a month long closure, Tata Motors has resumed production trials of the Nano car at its Sanand facility.

Post maintenance, the production trials are believed to be for a new Nano variant. The company had closed the facility citing maintenance and re-tooling for new variants last month.

Infosys is facing a challenge of double-digit attrition, which many believe could rise further in the next quarter (July-September) before peaking out.

According to experts, the high attrition is a reflection of business-related challenges at the company, and the senior exits over the last one year.

Real estate developers like DLF, Phoenix Mills and Embassy are studying options to launch Real Estate Investment Trusts (Reits) after Finance Minister Arun Jaitley announced the income they generate will be taxed at the hands of investors.

Apart from real estate developers, global investors such as Blackstone and Brookfield also could look at launching Reits, analysts said.

Infosys, India’s second largest information technology (IT) services company, ended the first quarter of financial year 2014-15 with better-than-expected earnings and the management indicating that most of the company-specific issues may now be a thing of the past.

Cigarettes, radio taxis, and imported electronic products, among other items, are set to become expensive. The government increased the excise duty on cigarettes between 11-72 per cent while increasing it on pan masala, unmanufactured tobacco, gutkha and chewing tobacco as well. It also imposed service tax on radio-taxis, online and mobile advertising, services by air-conditioned contract carriages and technical testing of newly-developed drugs on human participants, exempt so far, making them dearer now.

MUMBAI: The rupee lost six paise to 60.25 against the US dollar in early trade today at the Interbank Foreign Exchange market due to appreciation of the American currency against other currencies overseas.

Sustained demand for the dollar from importers also weighed on the local currency but a higher opening in the domestic equity market limited the rupee's losses, forex dealers said.

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