KOLKATA: Five central trade unions representing almost 90% of the workmen of Coal India have served a notice to the coal major's management for a day's str-ike on March 29 to protest disinvestment in the largest coal producer. The strike will also be observed at Singareni Collieries Company.

According to a statement jointly released by INTUC, BMS, HMS, AITUC and CITU there would be joint demonstration on February 19 followed by work to rule from March 7 to 10 and a day's strike on March 29.

NEW DELHI: The steep fall in oil prices have helped reduce the cost of developing and maintaining oilfields by at least 40% but Oil and Natural Gas Corp (ONGC) is unable to gain from this. Reason: Lack of discretion.

Oil majors have deferred investments and cut costs, but ONGC, being a state firm, can't fire people or renegotiate contracts easily.

Maruti Suzuki is changing the way its car salesmen used to lure prospective customers. With changing needs of buyers, the company is replacing printed brochures with tablets, in its showrooms, which can showcase various combinations of accessories in its cars and all its products at one go. The move is part of initiatives it is taking to sell two million cars a year by 2020.

Recently, Maruti joined hands with US giant HP for the supply of tablets and turn-key solution including servicing and maintenance of products.

Axis Bank, the country’s third largest private sector bank, reported a 15 per cent rise in net profit to Rs 2,175 crore in the October-December quarter on the back of higher net interest income and other income.

It is for the first time in the past eleven years that the bank has reported a net profit growth of only 15 per cent. Prior to this, the last time the bank had reported a drop in net profit of 28 per cent in quarter ended September in 2004. In the last 12 quarters, the lender had managed to always grow its bottom line at an average of 20 per cent.

MUMBAI: The rupee tumbled 30 paise to trade over 28-month low at 67.95 against the dollar in early trade on Wednesday, mainly due to strong demand for the American unit from importers and banks amid a lower opening in the domestic equity market.

Moreover, sustained capital outflows weighed on the domestic unit but the dollar's weakness against some other currencies overseas capped the rupee's fall, traders said.

New Delhi: In its first launch this year, Indian Space Research Organisation (Isro) successfully put the IRNSS-1E in orbit using Polar Satellite Launch Vehicle PSLV-31. The 1,425 kg satellite was the fifth to be launched as part of the Indian Regional Navigation Satellite System (IRNSS) which will consist of a constellation of seven satellites.

After the PSLV-C31 lift-off at 9:31am on Wednesday from the Satish Dhawan Space Centre in Sriharikota and a flight of about 18 minutes 43 seconds, IRNSS-1E Satellite was injected to an elliptical orbit and successfully separated from the PSLV fourth stage.

London: Private sector lender Yes Bank Ltd aims to list up to $500 million green bonds on the London Stock Exchange Plc (LSE) by December and has tied up with the UK’s exchange group on debt and equity issuance.

Yes Bank has also formalized the memorandum of understanding (MoU) signed with the LSE during Prime Minister Narendra Modi’s visit to the UK in November to develop bond and equity issuance, with particular focus on the relatively untapped sector of green infrastructure finance.

New Delhi: Private energy producers once again bid for solar power projects at the lowest-ever tariffs in the latest auction that concluded on 19 January as India strives to cut carbon emissions by 35% and increase the use of renewable energy sources to generate at least 40% of its power needs by 2030.

Increased investor interest and bidding under the so-called reverse auction process where a winner is chosen based on the lowest price bid for the project are likely to make pricing of power generated from renewable energy sources more competitive, says industry watchers.

Mumbai: Ford India Pvt. Ltd launched the new Endeavour on Wednesday. With prices starting from Rs.24,75,094 (ex-showroom, Mumbai) up to Rs.29,46,388, the premium SUV offering is available in two engine options—Ford Duratorq TDCI 2.2 litre and 3.2 litre.

Designed ground up, the seven seater SUV competes with the Toyota Fortuner and Hyundai Santa Fe. The second generation model will be assembled locally at company’s Chennai plant. It goes on sale from Wednesday. Ford launched the Endeavour in 2003.

NEW DELHI: Anil Ambani-owned Reliance Communications (RCom) Wednesday said it has paid Rs 5383.84 crore as a liberalization fee to the telecom department.

"We have paid liberalization fee in relation to spectrum in the 800 and 850 MHz band held in 16 telecom circles," the telco informed the National Stock Exchange (NSE) in a statement.

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