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.

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.

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.

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.

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.

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”.

Microsoft has announced to acquire a conversational Artificial Intelligence (AI) and bot development company XOXCO for an undisclosed sum.

Texas-based XOXCO has been paving the way in conversational AI since 2013 and was responsible for the creation of Howdy, the first commercially available bot for Slack that helps schedule meetings.

Essar Steel Asia Holdings (ESAH), the holding company of Essar Steel, has approached the National Company Law Tribunal (NCLT) asking it be allowed to plead its case before any orders are passed. ESAH has filed a caveat petition in the NCLT Ahmedabad bench which has been hearing the insolvency case against the debt-laden company.

Almost nine years after the launch of the first Sharia-compliant investment fund in India, the alternative investment funds based on the tenets of the Islamic banking are yet to take off in the country.

While Islamic banking is not permitted by law, people are free to raise or invest in Sebi-registered venture capital funds (VCF) that are in compliance with Islamic finance rules.

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks.

Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.

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