Business

India is pushing for greater use of electric vehicles to reduce vehicular pollution and cut dependence on oil imports.

In September 2012, the UPA government had allowed foreign airlines to invest up to 49% in an Indian carrier provided substantial ownership and control remained with Indian nationals.

Under the changes, e-commerce firms in India will from February 1 not be able to sell products via companies in which they have an equity interest or push sellers to sell exclusively on their platforms.

Weakening of the American dollar, fresh foreign fund-flows and easing crude oil prices helped boost the domestic unit.

IL&FS, a large systemically important non-deposit accepting core investment company, sent markets into tizzy with series of default beginning August last year.

Jet is likely to finalise a resolution plan with its lenders this week, trimming their 51 percent stake to 20-25 percent.

The gain comes shortly after the IT firm reported a 30 per cent drop in its December quarter net profit.

Infosys, in a regulatory filing, said its Board has approved buyback of up to 10,32,50,000 equity shares, comprising approximately 2.36 per cent of the paid-up capital of the company as of December 31, 2018 for up to Rs 8,260 crore.

The mining operations, a key source of revenue to the state government, came to a standstill in March last year following a Supreme Court order which quashed 88 mining leases.

Top losers include IndusInd Bank, Axis Bank, HCL Tech, Kotak Bank, HDFC, Bharti Airtel, PowerGrid, Asian Paints, TCS and SBI.

Reliance Jio registered the highest growth rate of 81.98% in its customer base that reached 21.52 crore at the end of September 2018 on Y-o-Y basis.

The stakeholders relationship committee of the bank in its meeting on Thursday approved the 'Union Bank of India-Employee Share Purchase Scheme' to raise equity capital.

The Indian rupee fell sharply against the US dollar, hitting a low of 70.06 against the US dollar in the afternoon trade, down 63 paise. Brent crude futures dropped 1.25 per cent to USD 53.12 per barrel.

Indian Oil's chairman Sanjiv Singh said that Iran has not ruled out participating in the expansion at Chennai Petroleum Corp Ltd, a south India-based 20,000 barrels per day (bpd) refinery.

The 30-share index was trading 198.83 points, or 0.55 per cent, lower at 36,055.74 in morning trade.

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors and vendors. The deadline for the payment was Dec. 31, 2018.