E-tickets bought through IRCTC will get more costly as the Indian Railways has decided to restore service fee charges, almost three years after they were withdrawn to promote digital payments, a pet project of the Narendra Modi-led BJP government.

The Railway Board has given its approval to the Indian Railway Catering and Tourism Corporation (IRCTC) to restore the mechanism of charging service charge from passengers booking online tickets.

With an aim to safeguard mutual fund investors from high-risk assets, regulator Sebi wants fund houses to shift all their investments to listed or to-be-listed equity and debt securities in a phased manner and reduce their exposure to unrated debt instruments from 25 per cent to only 5 per cent.

Heralding a new 5G era of mobile computing, Samsung has launched Galaxy Book S for $999 that harnesses the mobility and connectivity of a smartphone and the powerful productivity of a PC, thanks to Microsoft.

Developed in collaboration with Microsoft and Qualcomm, the 13.3-inch device offers Gigabit LTE connectivity, Windows 10 and Qualcomm Snapdragon 8cx compute platform.

India’a largest commercial vehicle and leading carmaker, Tata Motors Ltd (TML), has internally announced a block closure for three days starting today, 8 August, at its production plants in Pimpri (Pune) and Jamshedpur. Mint also learns that Tata Motors’ luxury car unit, Jaguar Land Rover (JLR), is also observing the block closure for three days starting today, in an attempt to cut down the volumes of locally assembled models.

Shares of pharmaceutical major Cipla Ltd lost about 3% leading the losses in the NSE Nifty stocks at Wednesday noon trade. The deceleration in India business came as a negative surprise. Revenues in India, the largest business market for Cipla, dropped 12% as the company re-aligned its distribution channel.

State-run oil refining and marketing company Hindustan Petroleum Corp. Ltd’s (HPCL) June quarter results are nothing to write home about. Net profit of ₹811 crore missed Bloomberg’s consensus estimate of ₹1,002.5 crore.

“Compared to its peer Indian Oil Corp. Ltd that reported strong results last week, HPCL reported a weak set of results," said brokerage firm Nomura Financial Advisory and Securities (India) Pvt. Ltd.

Indian markets surged today after news agency Reuters, citing sources, reported that the government is likely to exempt foreign portfolio investors from an increase in taxes that was part of the budget. The budget announcement on taxation has adversely impacted investor sentiments and is reflected in the FPI outflows from the equity markets. Since budget, Indian markets have fallen nearly 8%.

Paytm’s QR-based payment service PayPay launched in Japan in partnership with SoftBank and Yahoo Japan last October has hit 10-million user target along with 1 million stores and 100 million transactions, Paytm Founder and CEO Vijay Shekhar Sharma tweeted on Thursday. Around mid-July 2019, the service had already acquired 8 million customers in the Japan market.

As the automotive industry faces its worst slowdown in the past two decades, Anand Mahindra, chairman, M&M, has sought a re-look at the vehicle registration fees and rollback of increase in road tax of state governments after the introduction of goods and services tax (GST).

The Supreme Court on Wednesday gave a week’s time to the operational creditors of bankrupt Essar Steel to challenge the new amendments to the Insolvency and Bankruptcy Code, which granted more powers to the lenders. A bench led by justice RF Nariman deferred the hearing on a batch of appeals till August 19 so as to decide the issue in light of fresh challenges following recent amendments.

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