New Delhi: Tata Consultancy Services (TCS) Monday surpassed Reliance Industries to become the most valued firm by market valuation.

At close of trade, the market capitalisation (m-cap) of TCS was at ₹8,37,194.55 crore, which was ₹1,170.47 crore more than that of RIL's ₹8,36,024.08 crore on the BSE.

New Delhi: Infrastructure company Larsen & Toubro (L&T) Monday said its construction arm has bagged 'large' orders across various business segments in the domestic as we ll as international market.

The company said the orders fall under 'large' category, which ranges between ₹2,500 crore and ₹5,000 crore as per its classification of contracts.

The country's largest car maker Maruti Suzuki India (MSI) has cut vehicle production by over 18 per cent in May, according to a regulatory filing. It is the company's fourth consecutive month of taking a production cut. The car market leader produced a total of 1,51,188 units in May, including Super Carry LCV, down 18.1 per cent from 1,84,612 units in the year-ago month, MSI said in the filing.

In a first for Indian carriers, Air India is likely to start random drug tests on its pilots and cabin crew. Crew members who are found to have a drug abuse problem could be barred from operating flights till they completely give the same up for good. "There is no specific regulation monitoring drug testing… It is recommended that (AI’s) medical department is asked to devise a process for doing random testing for drugs as a safety initiative…”

State-run Bharat Heavy Electricals Ltd (BHEL) Monday said it has won three orders worth Rs 520 crore for setting up solar photovoltaic (SPV) power plants with a combined capacity of 135 mega watt (MW) in Maharashtra and Gujarat.

"Cumulatively valued at Rs 520 crore, the orders have been secured from Maharashtra State Power Generation Company, (MAHAGENCO), Gujarat State Electricity Corporation (GSECL) and Gujarat Narmada Valley Fertilizers and Chemicals, (GNFC)," BHEL said in a statement.

Leading two-wheeler makers Bajaj Auto and TVS Motor Company said Monday that any plan to ban internal combustion engine three-wheelers and two-wheelers to adopt electric ones by 2025 would be "unrealistic" and "ill-timed" and derail auto manufacturing in the country.

The comments come in response to some media reports that the government was considering a proposal to ban sale of internal combustion engine (ICE) three-wheelers by 2023 and less than 150 cc two-wheelers by 2025.

Shares of YES Bank were trading lower for the third straight session in the afternoon trade on Monday. The stock was down 5 per cent at Rs 133 per share, on concerns of eroding balance sheet strength, rising non-performing assets (NPAs), capital raising concerns and weak visibility of profits.

The rupee appreciated by 8 paise to 69.38 against the US dollar in opening trade Monday, driven higher opening in domestic equities.

Forex dealers said, the local currency also gained strength amid weakening of the greenback in overseas markets.

The benchmark BSE Sensex rallied over 350 points and the NSE Nifty reclaimed the 11,900 level in early trade Monday driven by gains in IT and banking stocks amid positive global and domestic cues.

After hitting a peak of 39,979.48, the 30-share index was trading 272.07 points, or 0.69 %, higher at 39,887.97. Similarly, the broader NSE Nifty spurted 76.25 points, or 0.64 %, to 11,946.90.

Even as it had to abort the second round of auction under the toll-operate-transfer (TOT) model due to lack of investor interest, the National Highways Authority of India (NHAI) is not going slow on its plan to monetise its operational projects. According to official sources, the authority, which is in need of funds to repay debt and build new highways, will soon invite requests for proposal (RFPs) for two TOT tranches, measuring a total of 970 km, hoping to garner at least Rs 9,000 crore through this model in FY20.

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