Private explorer Reliance Industries (RIL) is targeting to start production of coal bed methane (CBM) from its Sohagpur (West) block in Madhya Pradesh during April-June FY17. This would mark the entry of the Mukesh Ambani firm into drilling gas from coal seams, a business that is still lagging behind in the country.

“RIL plans to put on stream the first set of wells between April 8 and April 14,” sources privy to the development told FE. Unlike conventional natural gas, CBM production is tricky and would take about six to eight weeks for the fuel to hit the customer, the source added.

We met senior management of Coal India (CIL) to know more about the steps the company is taking to tackle the impending wage hike and meet its sales target. CIL is confident of mitigating effects of the impending wage hike and increase in clean energy cess. It has maintained its production target of 598 million tonnes for FY17. CIL is targeting to reduce costs by 5% every year primarily through manpower cost rationalisation and enhancing operating and supply chain efficiencies.

State Bank of India (SBI) has decided to sell 9 trademarks of Kingfisher to recover at least Rs 367 crore, reported Mumbai-based tabloid Mid-day.

According to the report, SBICAP Trust Company Ltd, a part of the bank, has issued a notice to e-auction these tradmarks, including 'Fly The Good Times', 'Flying Models', 'Funliner', among others. The marque Kingfisher logo will be valued separately and sold through the bank's approved service provider, the report said.

TVS Motor Company (Rs 326) and Ashok Leyland (Rs 108) have hit their respective lifetime high on the BSE in early morning trade.

At 09:37 AM, TVS Motor Company was trading 3% higher at Rs 324, extending its 18% rally thus far in March, as compared to 9% rise in the S&P BSE Sensex.

In yet another clampdown against entities using the stock market for evasion of taxes, capital market regulator Securities Exchange Board of India (Sebi) barred Kailash Auto Finance, its promoters and over 240 entities from the securities market for generating fake long terms capital gains.

The probe found share prices of the stock were "artificially" being raised on the exchanges in order to register "bogus" or fake claims of LTCG. Given the seriousness of the issue, Sebi passed an ex parte order on Tuesday.

Ashok Leyland has won orders worth Rs 800 crore from the Indian armed forces. The company will supply field artillery tractor, super stallion vehicles and ambulance. In a press release, Ashok Leyland said the company will supply advanced technology products, 450 units of field artillery tractor 6x6 and other similar super stallion vehicles and 825 units of ambulance 4x4.

Vinod K. Dasari, managing director, Ashok Leyland said that the orders for Field Artillery Tractor (FAT) 6x6 and Ambulance 4x4 are in keeping with the momentum witnessed recently in the area of upgradation of technology and resources by the defence forces.

Tata Tiago will be launched on April 6, 2016 in India, confirms the homegrown carmaker. Just so you know, 'Tiago' is the rebranded 'Zica' that the company had showcased at the Auto Expo 2016. The company decided to drop the Zica name due to its resemblance with 'Zika' virus. The new name was selected through a name hunt contest that allowed people to suggest and vote for their favourite name.

Tata Tiago is based on the company's new design language IMPACT which will also be used for the Kite 5 sedan and few other upcoming Tata cars. Some of the standout design elements of the Tiago are wraparound headlights, 14-inch multi-spoke alloy wheels, Tata's new signature grille with 'Humanity Line'.

State-run Bank of India (BoI) on Tuesday said the government has approved a capital infusion of Rs 1,150 crore in lieu of preferential allotment of shares.

"The government of India has conveyed their approval to infuse capital funds to the tune of Rs 1,150 crore in the bank by way of preferential allotment of equity shares in favour of government of India," BoI said in a statement.

The Supreme Court on Tuesday allowed market regulator Securities and Exchange Board of India (Sebi) to go ahead with the sale of Sahara properties whose unencumbered title deeds are in its possession. The step is being taken to recover investors' money that Sahara groups' two companies had collected from public through Optionally Fully Convertible Debentures.

The apex court bench headed by Chief Justice T S Thakur said that the market regulator would appoint an agency to decide the mechanism for the sale of Sahara properties. The court said that the market regulator should evaluate 86 properties of Sahara.

Expanding its S-Class lineup in India, luxury car maker Mercedes-Benz on Tuesday launched nationally S400 at Rs 1.28 crore (ex-showroom, Delhi). S400, the ninth variant of its flaghship S-Class model, comes with a V6 petrol engine that produces 333 hp and 480 nm (newton metre) of torque.

"Mercedes-Benz believes in introducing the latest products and variants in the market at regular intervals, to keep customer interest and curiosity intact in the brand. This strategy, we firmly believe, has contributed to our unmatched success in India," said Roland Folger, managing director and chief executive of Mercedes-Benz India.

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