Shares of Maruti Suzuki India have dipped 2.4% to Rs 3,495 on the BSE in early morning trade after the company said it has temporarily suspended production at its Gurgaon and Manesar plants on account of the ongoing agitation.

“Owing to the agitation in Rohtak and nearby areas, supplies of certain components have been disrupted. As a consequence, the Company has had to temporarily suspend manufacture of cars at its facilities in Manesar and Gurgaon, starting Saturday (February 20) second half”, Maruti said in a statement.

Shares of Aditya Birla Nuvo were up over 1.5% at Rs 750 after the company said it has formed a joint venture company with Idea Cellular following the approval from the Reserve Bank of India's in-principle approval to set up a Payments Bank.

The new company for the aforesaid purpose will be in the name and style of Aditya Birla Idea Payments Bank Ltd, the company said in a release.

A state-run Indian firm is poised to seal a contract to build a $1.6 billion power plant in Bangladesh, beating out a Chinese competitor in the latest commercial tussle between the region's two dominant powers.

After years of negotiations, Bharat Heavy Electricals Ltd (BHEL) will sign a contract to build a 1,320-megawatt (MW) thermal power station in Khulna in southern Bangladesh on February 28, officials in New Delhi and Dhaka said.

The upcoming Budget will be citizen-centric with a focus on farm sector, job creation and eradication of poverty, Minister of State for Finance Jayant Sinha said today.

This will be the second full-fledged Budget of the ruling NDA government, and will be unveiled in Parliament on February 29.

L&T electrical and Automation, the $1 billion unit of Larson and Toubro, expects infrastructure projects by the government and investment in upgrading existing factories by corporates to drive business faster over the next few years. The firm says that business from upgrading switches and drives contributes to 13% of its revenue, up from 5% a few years ago.

"When somebody is not setting up new factories, they want to extend the life of their existing installations," said PK Bajaj, executive vice-president, L&T (Electrical & Automation) in an interview. "We hear words like upgrades, add one line, debottle-necking lot more than new capacities. These are efforts to release those capacity which otherwise they are not bothered," he added.

Widespread protests by Jats seeking caste-based reservations in several parts of Haryana has crippled the supply of components to automakers, forcing players like Maruti Suzuki to temporarily suspend production at its two plants in the state.

The country’s largest carmaker said it has suspended production at its Gurgaon and Manesar plants starting Saturday afternoon.

After Friday’s surge, gold declined by Rs 40 to Rs 29,250 per ten grams in bullion market on Saturday, owing to slackened demand from jewellers and retailers amid weak overseas cues.

Traders said apart from muted demand from jewellers and retailers at prevailing levels, a weak trend overseas mainly led to the fall in prices.

Eight corporate jets which were submerged under flood water at Chennai airport in December are being written off as the damage is beyond repairs.

Insurance companies say that the aircraft parts will be sold for scrap to recover part of the costs. “The damages to the jets and its parts are severe and cannot be restored. Hence, we will have to dismantle and sell parts as scrap, though we will only be able to recover 20-30 per cent of the costs,” said chairperson and managing director of a large public sector general insurer which had exposure to these jets.

As the Jat stir for quota continued, some unidentified persons set on fire the Budha Khera Railway Station in Jind district today.

The furniture, record room and other articles were set on fire at the railway station, which falls on the Jind-Panipat rail section, police said.

‘Freedom 251’ mobile priced at a sensational Rs 251 by Ringing Bells company first elicited amazement from all and sundry and then caused consternation to break out as the website freedom251.com crashed after tens of thousands of people tried to log onto the website to book the cheapest smartphone in the world, but to no avail. The result was that a lot of people were disappointed as the site crashed and stayed inoperative for 2 days running – those who actually found their way to the company’s door were turned away too.

While the world kept asking questions and Indians remained puzzled about the nature of the promised deal, the Noida-based startup, Ringing Bells, which had promised a Rs 251 (less than $4) ‘Make in India’ smartphone, delivery charges extra, on Friday claimed to have received nearly 5 crore registrations in just 2 days of opening up for online pre-orders.

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