BHUBANESHWAR: India on Monday successfully conducted the flight test of ABHYAS - High-speed Expendable Aerial Target (HEAT) from a test range in Odisha, Defence sources said.

The trial, carried out by the Defence Research and Development Organisation (DRDO) from the Integrated Test Range (ITR) at Chandipur in Balasore, was tracked by various radars and electro-optic systems.

BERLIN: German giant Mercedes-Benz said on Monday it wants to stop selling traditional combustion engine cars by 2039 and plans for its new vehicles sold worldwide by that time to be carbon-neutral.

"We aim to have a carbon-neutral new passenger car fleet in 20 years," said Ola Kallenius, current head of Mercedes research, who is to succeed Dieter Zetsche as chairman of the Daimler group next week.

Vodafone Idea on Monday narrowed its consolidated net loss during the January-March quarter at Rs 4,882 crore on the back of lower operating costs due to realisation of merger synergies. However, it was still wider than the Bloomberg consensus estimate of Rs 4,721 crore.

The firm had reported a net loss of Rs 5,004.6 crore at the end of December quarter, and a net loss of about Rs 4,974 crore in the preceding September quarter.

The 2019 edition of the Indian Premier League (IPL) is understood to have fetched broadcaster Star India advertising revenues of more than Rs 2,000 crore, slightly more than the revenues of Rs 1800-2,000 crore earned in 2018. Sandeep Goyal, chairman at Mogae Media, believes the revenues may have even crossed Rs 2,500 crore. “Since the tournament was played across two financial years, clients have used residual budgets of the last financial year in March which normally were never available,” Goyal told FE.

Standard Chartered Bank (SCB), which has been allocated only 1.7% of its Rs 3,187 crore of admitted claim from the lenders of the Essar steel under the NCLT-approved resolution plan, on Monday submitted that the committee of creditors (CoC) of a firm undergoing resolution process does not have the authority to decide on the distribution of the receivables from the resolution applicant.

ITC managing director Sanjiv Puri was on Monday appointed the company’s chairman, two days after the death of YC Deveshwar, who earlier held the post. Puri, who has been the MD at the diversified firm since May last year, is now its chairman and managing director.

The announcement was widely expected. Puri, 56, was the chief operating officer (COO) before being promoted as chief executive officer (CEO) in February 2017.

The Securities and Exchange Board of India (Sebi) has sent show-cause notices to Kotak Mut­ual Fund and HDFC Mutual Fund, seeking details about their investments in the debt instruments of Essel Group companies. Essel Group promoters have sought time to repay their lenders.

Both fund houses had exposure to Essel Group companies in their fixed maturity plans (FMPs).

The Moon is steadily shrinking, causing wrinkling on its surface and quakes, according to an analysis of imagery captured by NASA's Lunar Reconnaissance Orbiter (LRO) published Monday.

A survey of more than 12,000 images revealed that lunar basin Mare Frigoris near the Moon's north pole -- one of the many vast basins long assumed to be dead sites from a geological point of view -- has been cracking and shifting.

HYDERABD: HDFC Bank on Monday said three start-ups from the city - Loop Reality, BluSapphire and Appnovation Technology - were declared winners at its regional Digital Innovation Summit (DIS).

According to a press release from HDFC Bank WorkApps, a start up from Pune was the fourth winner picked by the bank after the one-day event held here.

A US court has denied Computer Sciences Corp (CSC)’s application for temporary restraining order against Tata Consultancy Services (TCS) after CSC failed to prove its claims.

CSC, a US-based insurance platform provider to a TCS client, had last month filed for temporary restraining order in US against TCS after accusing them of misappropriating its trade secrets, of the Cyberlife and Vantage software platforms.

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