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Mercedes-Benz launches new CLS; price starts at Rs 84.7 lakh
Posted on 16th November 2018
German luxury carmaker Mercedes-Benz Friday launched new CLS model with a starting price of Rs 84.70 lakh (ex-showroom, all India).

The third generation CLS is powered by a new two-litre BS VI compliant diesel engine with power of 180 kw, the company said in a statement.


Air India eyes Rs 800 cr from sale of over 70 properties
Posted on 16th November 2018
Loss-making national carrier Air India plans to mop up Rs 700-800 crore by selling over 70 residential and commercial properties spread across the country, a senior airline official said on Thursday.

This fresh bid is a part of the airline’s real estate assets monetisation plan approved by the then UPA Government in 2012.


NHAI to get Rs 10,000 cr: Gadkari
Posted on 16th November 2018
Overwhelmed with the response for the first tranche of highway projects under the toll-operate-transfer (TOT) model, union minister for roads and highways Nitin Gadkari Thursday said he expects the second tranche to fetch over Rs 10,000 crore.

The maiden bundle of nine highway projects under TOT was a huge success, which was over subscribed and had fetched NHAI Rs 9,681 crore.


All telcos, except Jio, fail Trai's call drop test on select highway, rail routes
Posted on 16th November 2018
New Delhi: All telecom operators, except Reliance Jio, failed to meet call drop benchmark in drive test conducted by sector regulator Trai on different highway and rail routes, says a report.

According to a Trai report published on Thursday, while network performance of telcos differed on highways, none of them, except RJio, could meet call drop benchmark on the three rail routes covered under the test.


Mahindra & Mahindra Marazzo to get costlier by up to Rs 40,000 from Jan 1
Posted on 16th November 2018
Mahindra & Mahindra on Friday said it will increase price of its newly launched multi-purpose vehicle (MPV) Marazzo by Rs 30,000 to Rs 40,000 from January 1, 2019.

The Marazzo was launched in September with introductory prices starting at Rs 9,99,000 and going up to Rs 1.39 million, depending on variants.


Infosys ADS holders seek refund of $3.7 million in depository fees
Posted on 16th November 2018
New Delhi: Holders of Infosys Ltd’s American Depositary Shares (ADSs) have complained that the company’s issue of bonus ADSs in September has added to their cost of owning the securities without any concomitant benefits. They have, in a letter to Infosys’s chief financial officer M.D. Ranganath, asked the Bengaluru-based company to review its ADS programme and refund over $3.7 million to its ADS holders in depository fees collected by the firm on account of issuing new securities.

Sensex rises 250 points, Nifty near 10,700, Jet Airways soars
Posted on 16th November 2018
Indian stock markets edged higher today, boosted by rupee’s gains against the US dollar and recent decline in global oil prices. The Sensex was up nearly 250 points while Nifty inched closer to 10,700. Jet Airways shares extended gains on reports that Tata Group was in talks to buy a controlling stake in the airline. Jet Airways shares were up 8%, extending their gains after surging 25% on Thursday.

Reliance pips TCS to become most-valued firm
Posted on 16th November 2018
New Delhi: Shares of Reliance Industries (RIL) Friday rose over 2% helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation.

SBI says there is no liquidity crisis, NBFCs are meeting commitments
Posted on 16th November 2018
Ahead of the Reserve Bank of India’s board meeting on Monday, State Bank of India chairman Rajnish Kumar on Thursday said there was “no liquidity crisis” and that NBFCs are meeting their commitments as far as rollovers are concerned.

“All of them have been able to rollover and meet their commitments,” Kumar said on the sidelines of an event here.


Equity infusion may not aid Vodafone-Idea expansion
Posted on 16th November 2018
The huge debt of around Rs 1,12,500 crore of Vodafone Idea will leave little for capex and market-capturing strategies, even though the management is infusing some Rs 25,000 crore of equity.

Analysts at JPMorgan wrote on Thursday that Vodafone Idea “does not appear to be in a position to fund even basic capex, given the burdensome leverage”.


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