The long-term wage settlement (LTS) between the Tata Motors Sanand Union and Tata Motors was amicably agreed upon and has been signed today for a period of 5 years, with effect from October 2015 to September 2020.

The total wage package allotted is Rs 16,000 and will be spread across the LTS term uniformly. In addition to the amount, the company has also introduced a performance-linked payment, which is accounted as 10% of total salary and will be linked to productivity, quality & safety.

Mumbai, Jun 8 () Country's largest lender SBI today said it has raised Rs 15,000 crore by selling 52.2 crore shares through qualified institutional placement (QIP), the largest share sale in the secondary market by a bank.

SBI had opened the share sale through private placement on June 5.

New Delhi, Jun 8 () Shares of Reliance Communications fell by more than 3 per cent today, continuing the downtrend on sluggish investor sentiment after Fitch and Moody's Investors Service further downgraded the company's credit ratings.

The stock went down by 3.10 per cent to close at Rs 18.75 on BSE. During the day, it declined by 3.61 per cent to Rs 18.65.

New Delhi, Jun 8 () Markets regulator Sebi has directed five URO Group firms and their directors to refund the money, which they had illegally collected from the public, within three months.

These five firms are -- URO Walkers, URO Infra Reality India, URO Infotech, URO Lifecare and URO Hygienic Foods.

Mumbai: State-run oil marketing companies Indian Oil Corp. (IOC) Ltd, Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) lost nearly 12 percentage points market share in the fuel retailing business to private firms such as Essar Oil, Reliance Industries Ltd (RIL) and Shell India in 2016-17 according to three officials at the state-owned firms.

It was expected, the three added, and the companies are launching measures to not lose any more share and regain some lost ground.

MUMBAI: HDFC Life and Max Life merger received another regulatory setback with the Insurance Regulatory and Development Authority of India rejecting the proposed merger in the current form.

HDFC Life and Max Life proposed four-leg merger last August where in the first leg Max Financial Services, a holding company, was to be merged with Max Life. That was to be followed by a demerger of the life insurance business, which would subsequently be merged with HDFC Life.

Infosys Ltd on Friday denied a media report that the founders of India's second-biggest software services exporter were looking to sell their entire 12.75 percent stake in the company.

The Times of India newspaper on Friday had reported the Infosys founders were exploring such a sale, citing people familiar with the developments, although it carried a denial of such a move by one of the firm's founders, Narayana Murthy.

A month after IT giant Wipro reportedly fired hundreds of employees as part of its annual 'performance appraisal', the country's third largest software services company has now declared US President Donald Trump a potential threat to business.

According to an Economic Times report, the IT firm said this in its annual filing with the US Securities and Exchange Commission.

State-run oil marketing companies (OMCs) have decided to roll out the daily revision of fuel prices nationally from the second fortnight of June.

However, this has raised concerns about viability and inventory management among dealers. Currently, Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) review retail fuel prices every fortnight while taking global crude oil prices into account. "We are planning to have a national launch of the dynamic pricing system by the second half of this month. However, dates are yet to be finalised," said a top official from an OMC.

Farming provides livelihood to about 50 per cent of the workforce in the country. The government wants to double farmers’ income by 2022. ITC is trying to help this by attracting the next generation of farmers to sustainable activities as an aggregator.

Diversified conglomerate ITC plans to provide agricultural services through its showcase project, e-Choupal, which leverages information technology to empower farmers.

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