Following introduction of new levies in the Union Budget, car makers like Mahindra & Mahindra and Honda have raised the prices of their cars by up to Rs. 82,906.

The price hike in Hyundai motors effective from March 1 would cost the consumers a hike between Rs. 2,889 and Rs. 82,906 depending on the model.

Air India plans to bring down its losses by 40 per cent to Rs 2,000 crore in FY17 from the projected Rs 3,529 crore in FY16 on the back of revenue growth and cost optimisation. The airline’s board, led by Chairman and Managing Director Ashwani Lohani, has finalised the budget estimates for FY17.

Passenger revenue for FY17 is projected to be around Rs 17,000 crore, up from the estimated Rs 15,500 crore in FY16, due to network expansion and improvement in load factor (capacity use). Air India also plans to add flights to Delhi-Washington and Ahmedabad-London-Newark routes.

The Karnataka High Court on Friday took up a petition by State Bank of India to arrest UB Group chairman Vijay Mallya, impound his passport and also direct him to disclose his personal and family’s assets, in India and globally. At the same time, it said, there is no impediment for the Debt Recovery Tribunal (DRT) to hear a similar plea by the public sector bank, which is seeking legal remedy over unpaid loans by Mallya taken to run the now-defunct Kingfisher Airlines.The DRT reserved orders for March 7, its judgment on the first petition by SBI, which leads a consortium of banks, to direct Mallya and Diageo Plc to deposit the $ 75 mn (around Rs 500 crore) committed by the British liquor firm for a non-compete deal signed with Mallya. It would take up the other pleas for arrest and impounding of Mallya’s passport on a later date.

On account of new levies announced in the Union Budget, Hyundai Motor India Ltd (HMIL) Friday raised its vehicles' prices ranging from Rs 2,889 and Rs 82,906 depending on the model. The hike will be effective from March 1.

The second largest car manufacturer in India sells a range of vehicles from entry level small car Eon with price starting at Rs 3.20 lakh to luxury SUV Santa Fe tagged at Rs Rs 30.79 lakh (ex-showroom Delhi).

MUMBAI | NEW DELHI: Three global automobile powerhouses either have started operating their India factories round the clock or are in the process of doing so to meet increasing export demand, in a resounding endorsement of the Prime Minister's call to make in India.

For the past six months, Ford Motor's manufacturing facility in Tamil Nadu is running three shifts a day, which is uncommon in the American carmaker's global operations.

Mumbai: Indian stock markets edged higher on Friday, posting their best weekly gain in more than four years, tracking gains in Asian markets and on improved risk appetite after the government unveiled a fiscally prudent budget earlier this week.

The benchmark BSE Sensex rose 0.16%, or 39.49 points, higher at 24,646.48, while the broader Nifty gained 0.13%, or 9.75 points, higher at 7,485.35.

New Delhi: The Election Commission (EC) on Friday set the dates for elections in Tamil Nadu, West Bengal, Kerala and Assam and Puducherry, which will serve as a test of popularity for the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA).

West Bengal will have the most spread-out polling, staggered over six phases. Assam will have a two-phase poll. Tamil Nadu, Kerala and Puducherry will go to the polls in a single phase on 16 May.

Bharat Heavy Electricals Ltd (BHEL) share price surged as much as 4.7 per cent in the afternoon trade on Friday after it informed bourses that it has successfully commissioned its first 700 MW supercritical thermal unit at Bellary Thermal Project in Karnataka.

At 12.37 pm, shares of BHEL were trading 3.83 per cent up at Rs 107.05. The scrip opened at Rs 103.95 and had touched a high and low of Rs 107.95 and Rs 102.10, respectively, in trade so far.

MUMBAI: Maharashtra is making a strong comeback in the automobile sector after losing out to Gujarat, Andhra Pradesh and Tamil Nadu in recent years, with companies promising fresh investments worth billions of dollars in the western state over the next five to seven years. US automobile giant General Motors has committed to invest $1 billion (Rs 6,770 crore) in new facilities.

Leader Kim Jong-un has ordered North Korea's nuclear arsenal to be ready for pre-emptive use "anytime," in an expected ramping up of rhetoric, following the UN Security Council's (UNSC) adoption of tough new sanctions on Pyongyang.

“We must always be ready to fire our nuclear warheads at any time,” Kim was quoted as saying by the North’s official KCNA news agency today.

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