Canada Pension Plan Investment Board (CPPIB) that manages pension fund assets has recieved the Reserve Bank of India’s approval to increase its stake beyond five per cent to 10 per cent in Kotak Mahindra Bank.

“Kotak Mahindra Bank has informed the exchange that RBI has informed the bank that it has granted approval to CPPIB for acquiring shares in excess of five per cent and below 10 of the paid up capital of the bank,” said the bank in a notice to the exchanges.

Tata Consultancy Services (TCS) and GE have developed technology that will revolutionise gas turbine manufacturing with smart LEDs and GE’s Predix operating system. TCS has developed a digital solution to connect intelligent LEDs to GE’s Predix operating system for the industrial Internet through Intel Atom-based gateways, providing critical analytics to save significant time and costs in the manufacturing process.

TVS Motor Company announced the completion of Himalayan Highs Season 2 on Tuesday, with 11 women riders from across India riding to the world's highest motorable road, Khardung La, on TVS Scooty Zest 110.

Led by Anam Hashim, the solo rider of Himalayan Highs Season 1, the entourage earned themselves a place in India Book of Records for being the first group of women riders to conquer Khardung La on a 110cc scooter.

Tata Motors will focus on reducing the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs. The company will look at ways to weed out inefficiencies among its component suppliers to drive down costs.

"Today, individual cars sit on individual platforms. It is not a healthy way. We will look at sharing of platforms," Guenter Butschek, chief executive officer and managing director told journalists today.

Calcutta, Aug. 29: Coal India has surrendered its prospecting licences in Mozambique in Africa because of a lack of opportunity for commercial exploitation.

The public sector miner, through its subsidiary Coal India Africana Limitada, had acquired the licences for mining in August 2009, covering an area of 224 square kilometres (sq km).

New Delhi, Aug. 29: State-owned Indian Oil Corporation (IOC) today announced bonus shares in the ratio of 1:1 as its first-quarter net profit jumped 25 per cent to Rs 8,268.98 crore.

The board of directors has approved the bonus share, which means the company will issue one equity share of Rs 10 each for every fully-paid up share of Rs 10 each, subject to the approval of the shareholders.

New Delhi: The justice A.P. Shah Committee looking into the dispute between state-run Oil and Natural Gas Corp. (ONGC) and Reliance Industries Ltd (RIL) regarding the flow of gas between their adjacent fields in the Krishna-Godavari basin will submit its report to oil minister Dharmendra Pradhan on Wednesday, said a person privy to the development.

The oil ministry will take a call on when to make the contents of the report public, said the person, who spoke on condition of anonymity.

The benchmark Sensex surged nearly 420 points at the pre-close session on sustained buying by investors coupled with fresh round of buying by foreign as well as domestic financial institutions amid firm global cues.

Higher Asian cues and sustained FII buying also supported the market sentiment.

Microsoft today said Bala Girisaballa will be leading Microsoft Accelerator in India as CEO-in-Residence.

Prior to this, Bala was with Globalisation and market expansion advisory Zinnov as Partner and Practice Head helping MNC R&D companies.

Ramky Infrastructure shares gained nearly 14 per cent in early trade on Tuesday after it along with Ashoka Buildcon bagged a contract for building two highway projects in Jharkhand worth Rs 1,646 crore by National Highways Authority of India (NHAI). Both the projects are related to widening of a road stretch on NH 32 and NH 33.

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