The government has decided to "wait and watch" for the next three-four months before taking a call on disinvestment of national carrier Air India due to prevalent market condition specially high fuel prices, Union Minister Nitin Gadkari said today.

The government's proposed stake sale in Air India failed to attract any initial bidder when the deadline for bidding ended on May 31.

Reliance IndustriesNSE 0.43 % chairman Mukesh Ambani addressed the company's 41st annual general meeting (AGM) at Birla Matushri Sabhagar in Mumbai.

The oil-to-telecom conglomerate continued with its trend of making big announcements related to its telecom arm Jio. In its previous AGM, the company had announced the launch of Jio phone.

Lenders to Essar Steel feel that ArcelorMittal, “a serious and credible resolution applicant”, has displayed “a genuine intention and taken concrete steps” by attempting to clear overdues in defaulting firms whereit was a shareholder.

This was stated by ArcelorMittal, with reference to the documents presented in the NCLAT on Wednesday.

After deploying Wi-Fi at 400 railway stations, infotech giant Google is taking its Google Station project outside India to other countries, including Indonesia and Mexico. Sources mention Southeast Asia, Latin America and some other countries in this sub-continent.

The company is also in talks with multiple companies for deployment of the public Wi-Fi in India. In 2015, it had collaborated with RailTel for free Wi-Fi at 400 stations.

Swedish home furniture giant Ikea will be launching online sales in this country when it opens its second India retail store in Mumbai next year.

The company’s first India store — a 400,000-sq ft facility of four floors in addition to two floors of parking in Hyderabad’s IT hub — is getting final touches.

Shares of YES Bank were trading 3% higher at Rs 346 per share on the BSE after the bank said that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its mutual fund business.

YES Bank was the top gainer among the S&P BSE Sensex and Nifty 50 stocks at 09:58 am.

The Reserve Bank of India has issued licence to Bank of China to launch operations in India, official sources said today.

Prime Minister Narendra Modi had made a commitment to Chinese President Xi Jinping to allow Bank of China to set up branches in India when they met on the sidelines of the SCO summit in Chinese city of Qingdao last month.

ICICI Bank on Wednesday said its mortgage loan portfolio crossed Rs 1.5 trillion, a first among private sector banks in the country. It is now aiming to grow its home loan book to Rs 2 trillion by 2019-20.

In line with the bank’s renewed focus on the retail segment, it has become the largest mortgage lender among private sector banks.

Essar Oil UK, one of the leading dowstream energy company in the UK running Stanlow Manufacturing Complex refineries, has posted a 4.2 per cent dip in net profit for the financial year 2017-18 as compared to the previous financial year.

The company posted a net profit of Rs 10.37 billion during the period under review, as against Rs 11.25 billion during the year 2016-17.

The country's largest car maker Maruti Suzuki India (MSI) plans to add another 750,000 units manufacturing capacity from three production lines in Gujarat plant by 2020, taking the total capacity to over 2.25 million units a year, a top company official said today.

The company, which already has a market share of over 50 per cent in the domestic passenger vehicle segment, is also initiating process to study ways to further expand production capacity beyond 2.25 million units per annum after 2020.

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