Mumbai: In the lead up to the Lok Sabha and the state assembly elections next year, Prime Minister Narendra Modi on Tuesday will launch infrastructure and housing projects worth around Rs 41,000 crore in the state.

Modi, who will be in the state, will lay the foundation stone for Thane-Bhiwandi-Kalyan metro 5 and Dahisar-Mira Bhayander metro-9 in Kalyan in the neighbouring Thane district.

Mumbai: State Bank of India (SBI) is looking to buy out Canara Bank’s loans of about ₹400 crore in Ratnagiri Gas and Power Pvt. Ltd (), the erstwhile Dabhol Power Co., said two people in the know. This is expected to be the first resolution under the inter-creditor agreement (ICA), which is part of the government’s Project Sashakt aimed at resolving bad loans.

Shares of NTPC Ltd and Power Grid Corp. of India Ltd gained 1.7% and 3.7% on Monday after the sector regulator proposed continuation of current incentives. In a positive surprise, the draft note from the Central Electricity Regulatory Commission (CERC) suggests continuation of the 15.5% regulated return on equity (RoE) for generation and transmission companies.

Jeff Bezos captured the world’s imagination when he appeared on CBS’s “60 Minutes” and pledged to fill the skies with package delivery drones.

Five years on, Amazon.com Inc.’s chief executive officer is betting on decidedly more terrestrial technology: drivers. As in real people.

Domestic markets on TUesday opened in red. The benchmark BSE Sensex opened at 36,226.38 and the Nifty50 barometer of the National Stock Exchange (NSE) at 10,850.90. At 9:42, Sensex was at 36,110.47, down by 159.60 (0.44 percent) while Nifty was at 10,841.10 mark.

Among the top losers were Infosys, Wipro, Indiabulls Housing Finance and Yes Bank.

The Bombay High Court Monday refused to grant stay on the December 31 deadline to private sector lender Kotak Mahindra Bank for promoter stake dilution.

A division bench of justices B P Dharmadhikari and S V Kotwal directed the Reserve Bank of India (RBI) to file its affidavit by January 17, 2019, on a petition filed by the Kotak Mahindra Bank against the dilution directive.

The Madras High Court Monday banned online sale of medicines till the Union Health Ministry and the Central Drugs Standard Control Organisation notified the proposed Drugs and Cosmetics Amendment Rules, 2018 in the gazette at the earliest by January 31.

Justice Pushpa Sathyanarayana directed online pharmacy traders to obtain licenses as per the prescribed rules that are going to be notified within a duration of two months.

The department of telecommunications (DoT) has set for itself an ambitious target of completing the procedure for auctioning 5G spectrum by August next year.

Speaking on the sidelines of a workshop done with states and union territories, Telecom Secretary Aruna Sundararajan said on Monday: “We expect to complete due process by July-August 2019.

Shares of information technology (IT) companies were under pressure with Nifty IT index falling over 1% on Tuesday after Wall Street’s all major indices slid more than 2% on Monday, amid concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve on the course of US interest-rate hikes. The FOMC is scheduled to meet on Tuesday and Wednesday.

The rupee on Tuesday opened 23 paise higher at 71.33 against the US dollar as oil prices dropped 1 per cent, amid reports of a big climb in US inventories and forecasts of record shale output stoked worries about oversupply.

The domestic unit on Monday recovered by 34 paise to close at 71.56 against the US dollar as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities.

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