MUMBAI: RBI is understood to have raised some queries regarding the Axis Bank board's proposal to reappoint Shikha Sharma as MD & CEO for a fresh term beginning June 2018. The queries come more than eight months after the board approved Sharma's reappointment, following a board approval.

New Delhi: India's space agency said on Sunday it had lost contact with a telecommunications satellite successfully launched on Thursday, the trouble emerging while engineers were nudging the spacecraft in steps towards its assigned parking slot high above the equator.

The Indian Space Research Organisation said communication from the GSAT-6A satellite "was lost" between the second orbit-raising operation on Saturday and a scheduled third orbit-raising operation on Sunday.

Mahindra & Mahindra, the maker of Scorpio and Bolero SUV has registered 10% growth in March of 2018 with dispatches of 62,077 units, driving the company past 5 lakh mark for the entire financial year FY-18, a first in five years.

Mahindra & Mahindra sold 26555 units of passenger vehicle in March 2018 registering a growth of 4%, whereas commercial vehicle sales grew by 11% to 25496 units.

Hinduja Group flagship company Ashok Leyland today reported a 20 per cent increase in total sales at 22,453 units for March 2018, as against 18,701 units in the same month last year.

Sales for its medium and heavy commercial vehicles increased by 12 per cent at 17,057 units in March as against 15,277 units in the year-ago period, the company said in a filing to the BSE.

ICICI Bank hit five-month low, down nearly 5% on the BSE after the media reports suggested that the Enforcement Directorate (ED) has started an enquiry into the Rs 32.50-billion loan sanctioned to the Videocon group and others by ICICI Bank, which was part of a consortium of lenders.

The stock of private sector lender was down 4.6% to Rs 265.40 on the BSE in early morning trade, its lowest level since October 24, 2017. On comparison, the S&P BSE Sensex was trading 0.13% higher at 33,011 points at 09:38 am.

Leading payment gateway Paytm has revamped its app with updates which personalise the user’s experience and makes money transfer simpler and faster. It is offering instant transfers to Paytm Payments Bank, Paytm wallet and any bank account for a charge of zero per cent.

Paytm has moved from being a wallet to a full stack payments provider by offering multi-source and multi destination solutions. Combined with its reach to seven million offline merchants, it has achieved a billion transactions per quarter, the company claimed.

Maruti Suzuki and Tata Motors, the largest and fourth biggest player in domestic passenger vehicle (cars, vans and utility vehicles) market have closed the 2017-18 financial year with a strong double digit volume growth.

Maruti Suzuki, which commands 50% share of the market, has closed the year with 13.8% growth in passenger vehicles sales at a record 1.64 million units in domestic market.

NEW DELHI: India's biggest oil firm IOC today said it plans to invest about Rs 1.43 lakh crore to nearly double its oil refining capacity to 150 million tonnes and boost petrochemical production by 2030.

While Indian Oil Corp (IOC) is expanding refining capacity to meet fuel demand, which is expected to nearly double by 2040, it does not want to remain "a refining company alone and is thus venturing into petrochemicals and alternative fuels as well," company's Director (Refineries) B V Rama Gopal told reporters here.

New Delhi: Tata Motors Ltd and Mahindra and Mahindra Ltd (M&M) Ltd are facing off once again, this time in electric engines.

Both are speeding up their work on developing electric powertrains for their small commercial vehicles in the sub 2-tonne category.

New Delhi: State-owned oil firms will from 1 April supply petrol and diesel meeting stringent Bharat Stage VI emission norms in Delhi NCR.

Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Co. Ltd will supply the BS VI fuel at all their petrol pumps from 1 April, Indian Oil officials said.

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