The Andhra Pradesh government is all set to enhance the quarterly tax on transport vehicles to raise an additional revenue of Rs 200 crore.

Chief Minister Y S Jagan Mohan Reddy, at a recent meeting on resource mobilisation, gave the clearance to the quarterly tax hike proposal, official sources said here.

E-commerce giant Amazon has announced that it will invest more than one billion euros to further electrify its transportation fleet across Europe over the next five years.

The company said it is using thousands of zero-emission vehicles across its European operations, and this investment will add thousands more, accelerating Amazon's progress toward becoming net-zero carbon by 2040 -- 10 years ahead of the Paris Agreement.

India’s expected surge of rich consumers is driving the jewelry unit of Indian conglomerate Tata Group to triple its Zoya-branded stores by 2027.

“There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of Titan Co., India’s biggest jeweler, said in an interview. “This is just the beginning for luxury.”

IT giant Tata Consultancy Services (TCS) said it was willing to hire at least 10,000 to 12,000 freshers in the ongoing year apart from the 35,000 it onboarded till September 30, as attrition rate remains above 20 per cent.

TCS on Monday announced its results for the quarter that ended on September 30. The attrition rate for the company’s IT Services business stood at 21.5 per cent in the last twelve months (LTM). While the top leaders said the attrition may moderate in coming quarters, it was expected to remain higher than the company’s target.

The consolidation in the cement sector has picked up pace with JSW Cement closing in on India Cements' Madhya Pradesh unit and the Adani group all set to buy Jaypee's cement units.

Banking sources said JSW group is also close to acquiring India Cements' Rajasthan unit and had pipped Ultratech by making a better offer.

Uttar Pradesh Chief Minister Yogi Adityanath announced a three-day state mourning as a mark of respect to Samajwadi Party founder Mulayam Singh Yadav who died on Monday.

Uttar Pradesh government announces three-day state mourning on the death of Mulayam Singh Yadav.

The 82-year-old Yadav passed away in Medanta hospital in Gurugram.

Reliance Industries Ltd (RIL) and Reliance Jio are in discussions with lenders to raise up to $1.5 billion (about Rs 12,400 crore) and $2.5 billion (around Rs 20,600 crore), respectively, through foreign loans, reported The Economic Times.

To support its capital investment strategy, RIL is attempting to raise the necessary money through external commercial borrowing (ECB). According to those with knowledge of the situation, it is in discussions with a number of lenders, including Barclays, HSBC, and MUFG (Mitsubishi UFJ Financial Group) Bank.

Billionaire Gautam Adani-controlled Adani Group is in advanced talks with debt-laden Jaiprakash Power Ventures Ltd. to buy its cement unit, people familiar with the matter said.

The ports-to-power conglomerate could pay about Rs 5,000 crore ($606 million) for a cement grinding unit and other smaller assets, one of the people said, asking not to be identified as the information is private.

The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.

Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said.

Samajwadi Party (SP) founder and former Chief Minister of Uttar Pradesh Mulayam Singh Yadav passed away in Gurgaon on Monday. He was 82 years old.

Yadav was in poor health for some time and was admitted to a hospital in the city on August 22. He was shifted to the ICU on Sunday afternoon. The party confirmed his passing in a tweet.

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