India's largest carmaker Maruti Suzuki, which aims to increase its annual sales to about 2 million units by 2020, will invest Rs 15,000 crore over the next five years in procuring land for doubling its dealership network and expanding stockyard, warehouse and transportation infrastructure.

The company had sold 1.1 million vehicles in 2014-15. The volume increase in annual sales will be led by production at Maruti Suzuki's third plant in Gujarat, expected to become operational by early 2017.

Yes Bank Ltd has sold 3.02% of pledged shares of Vijay Mallya in United Breweries Ltd that is valued at Rs 770 crore as banks tighten their hold on the liquor baron for not clearing loans raised to run the defunct Kingfisher Airlines.

The move by Yes Bank comes soon after State Bank of India, India's largest bank declared Mallya as wilful defaulter after negotiations to get him clear Rs 8700 crore of debts to a consortium of 17 banks led by SBI.

Air India on Friday said it will start a new tri-weekly Hyderabad-San Francisco flight via New Delhi from next week.

The flight will travel non-stop from New Delhi to San Francisco and passengers headed to the US city will undergo all customs and immigration formalities at Hyderabad airport itself for their onward journey, the national carrier said in a statement.

Eighteen village councils in Uttar Pradesh are demanding a local Coca-Cola bottling plant be prohibited from extracting water from the ground, claiming its over usage has led to water scarcity in the area, said an environmental campaign group.

The villages, which are located in Mehdiganj area of Varanasi district, the constituency of Prime Minister Narendra Modi, claim they have been facing water shortage since 1999 when the plant began operations.

Mumbai: Mercedes Benz will invest Rs1,000 crore on production of luxury cars in Maharashtra. The announcement was made in a meeting between state chief minister Devendra Fadnavis, MD & CEO of Mercedes Benz India Eberhard Kern, and future MD and CEO of the company, Roland Folger, on Monday evening, an official said on Tuesday.

Mumbai: The country’s largest lender State Bank of India (SBI) on Tuesday cut its base rate by 40 basis points (bps) to 9.3%, soon after the Reserve Bank of India (RBI) reduced its policy repurchase rate by 50 bps.

One basis point is one-hundredth of a percentage point.

The bank will also be reducing its deposit rates by 25 bps across maturity baskets. Both rate cuts will be effective 5 October, SBI chairperson Arundhati Bhattacharya said.

Hyderabad: Drug maker Dr Reddy’s Laboratories has bought time until 7 December from the US Food and Drug Administration (FDA) to tell the regulator how it plans to address a string of alleged manufacturing violations at its plants in India.

The FDA issued a warning letter to Dr Reddy’s on 5 November alleging violations of good practice, including testing at undisclosed labs, manipulation of data, questionable staff qualifications and manual interference in drug making at three plants in Andhra Pradesh and Telangana.

New Delhi: The Securities and Exchange Board of India, or Sebi, on Thursday slapped a fine of Rs.1.84 crore on Arun Jain, chairman and managing director of Polaris Software Lab Ltd, Rs.19.69 lakh on R. Srikanth, the company’s ex-chief financial officer, for allegedly making illegitimate gains through trading in shares of the company while in the possession of unpublished price sensitive information in 2008.

India and Japan today exchanged notes for Japan’s Official Development Loan Assistance (ODA) worth Rs 5,536 crore for Chennai and Ahmedabad metro rail projects.

“India and Japan exchange notes for Japan’s Official Development Loan Assistance worth Rs 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project,” said an official release.

The country’s largest car-maker, Maruti Suzuki India, is moving towards offering an automatic technology variant in every segment it is present in. Currently, Maruti offers a variant of semi-automatic and automatic technology in the Celerio, Alto K10, WagonR, Dzire, Baleno and the Ciaz. The models still having scope for offering the automatic technology include the best-selling hatchback Swift, utility vehicle Ertiga and the newly launched crossover S-Cross.

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