YES Bank’s shareholders, at their annual general meeting on Saturday, approved the official resolution on re-appointment of Rana Kapoor as managing director and chief executive officer, along with other directors, sources told Business Standard.

State-owned power equipment maker BHEL on Friday commissioned 68 MW unit at the Rampur Hydro Electric Project in Himachal Pradesh.

“With the commissioning of one more hydro generating unit of 68 MW at Rampur project, BHEL has commissioned four units of the 412 MW hydro power plant of SJVN Limited,” BHEL said in a statement.

Reliance Energy argued at the Bombay High Court on Friday that the fare hike proposed by the company for the Mumbai Metro is justified.

Mumbai Metropolitan Region Development Authority (MMRDA) has dragged Reliance to court after the company decided to hike the fare.

Chennai: Ashok Leyland Ltd, India’s second largest bus and truck maker, has won an order from the Sri Lanka government to supply 2,200 buses.

Sri Lanka is aiming to modernize its fleet and significantly improve the country’s public transport network. This will be one of the largest purchases made by the Sri Lankan Transport Board, said a company press release.

Mumbai/Bangalore: DLF Ltd, India’s largest realty developer in terms of market capitalization, has raised Rs.375 crore by issuing commercial mortgage backed securities (CMBS) against its South Delhi based luxury mall DLF Promenade Ltd.

A CMBS is a form of debt product wherein the developer raises capital against a rent-yielding commercial asset for a tenure of seven- eleven years depending upon the specific tenure of each issuer. The paper carries a fixed interest rate unlike other debt instruments.

Official monitoring of infrastructure projects has expanded sharply to include developments worth Rs 100 crore as states have begun to mirror the Centre’s efforts to track such projects and speed up their implementation.

As many as nine state governments will now monitor the progress of infrastructure projects worth Rs 100 crore and more to help remove bottlenecks and ensure their timely completion - and more states are expected to join soon.

The defence and road ministries are close to an agreement for speedy transfer of land parcels currently with the three armed forces to the National Highways Authority of India (NHAI) so that a host of large highway projects can take off. Some of these projects have been stuck for want of defence ministry clearances (for land transfer) for up to five years, taking a toll on highway construction, which is also reeling from the hit taken from the economic slowdown and low investor interest.

Tata Consultancy Services (TCS) on Friday said it was likely to witness a nominal decline in operating margins in Q1FY15, largely due to a forex impact and wage hikes. Moreover, the software major indicated the appreciation in rupee in the quarter was likely to impact the company's topline.

The price of domestic LPG cylinders will not be increased and the number of subsidised refills given to consumers would continue, Union Petroleum Minister Dharmendra Pradhan said on Friday.

“LPG will be provided to the consumers at the same rate at which it is being made available now. No additional burden will be imposed on them. The subsidy and the number of subsidised cylinders that people are getting will be continued by our government,” Pradhan said in Patna.

Ban on iron ore mining and cancellation of coal block allocations besides a general slowdown in the economy had impacted the sales of Volvo trucks, according to VE Commercial Vehicles (VECV) chief executive officer, Vinod Aggarwal.

VECV is a 50:50 joint venture between the Volvo group of Sweden and India’s Eicher Motors Limited. It sells Volvo trucks in India mainly to the mining sector. Its plant in Bangalore has a capacity to assemble 2,000 trucks a year.

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