New Delhi: Unitech Ltd approached the Supreme Court on Monday against an order of the National Company Law Tribunal (NCLT) allowing the government to take control of the real estate company. A bench headed by Chief Justice Dipak Misra said that the matter would be heard on Tuesday.

“We are more concerned with home buyers, and not the company or those holding fixed deposits,” Misra said.

Announcing its plan to broaden the AI for Earth programme, Microsoft has pledged $50 million over the next five years to put artificial intelligence technology in the hands of those who are working to mitigate climate change. Microsoft rolled out the AI for Earth programme six months ago with an aim to put the power of artificial intelligence towards tackling environmental challenges. “At Microsoft, we believe artificial intelligence is a game changer.

To fast-track the privatisation of state-run Air India (AI), the government is likely to first divide the enterprise into two: AI and Air India Express (AIE), which undertakes the airline’s profitable West Asia operations, would be combined and put up for sale; another special purpose vehicle (SPV) that will include AI’s Rs 32,000-crore working capital debt, its other subsidiaries including Alliance Air and assets such as land and buildings, will be monetised later.

Wholesale volumes of passenger vehicles witnessed a healthy double-digit growth of 14% in November, with 2,75,417 units being sold by automakers. The low sales base in November last year owing to demonetisation aided the year-on-year performance. Leading the charge with a steep 45% rise to 77,824 units was the utility vehicles group, which grew at its fastest pace this fiscal – riding on the back of several new launches during the festive season.

Sensex and Nifty fell more than 0.4% in the wee hours of trades on Tuesday after starting off on a weak note as investors turned cautious ahead of key macroeconomic data which is lined up for later today. Among the macro data, Inflation data for the month of November is due for later today evening along with Industrial and manufacturing productions for the month of October and current account data.

JLR retail volumes increased by 10% y-o-y in November 2017, the first month of near double-digit growth after five months of disappointment. Land Rover volumes grew by 17% y-o-y led by new Discovery and RR Velar. JLR needs to report 8% y-o-y growth during the December 2017-March 2018 period to meet our FY2018 estimates. We feel confident of JLR achieving this as new Velar, launch of E-Pace and Discovery will boost volumes. Maintain BUY. JLR retail volume rose by 10% y-o-y to 52,332 units in November 2017.

Indian state-run Punjab National Bank has launched a share sale to qualified institutions to raise at least 30 billion rupees ($466.2 million) with an upsize option for another 20 billion rupees, according a source and a deal term sheet.

Punjab National Bank, the second-biggest state-run lender in the country, is looking to sell the shares at an indicative price of 168 rupees each, according to the source and the term sheet.

London: Vijay Mallya on Monday arrived in court in London as the extradition trial to prove a prima facie case of fraud against the fugitive liquor baron resumes to determine if he can be extradited to India to face charges over his erstwhile Kingfisher Airlines.

New Delhi: Rahul Gandhi has been elected unopposed as Congress president, party’s central election authority head Mullappally Ramachandran announced on Monday.

Rahul Gandhi will collect the certificate formally declaring his ascension to the post on December 16, he told reporters here. The 47-year-old scion of the Nehru-Gandhi family was the lone candidate in the fray. He is the sixth member of the Nehru-Gandhi family to take over the top post.

The stocks of Maruti Suzuki India had hit an all-time high on Monday. The company added another 1.4 per cent gains to hit a fresh record high of Rs 9,167.70 after the global brokerage house raised target price.

Morgan Stanley has retained its overweight call and raised target price to Rs 10,563 (from Rs 9,102 per share). The decision implied a 16.8 per cent potential upside from Friday's closing price.

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