NEW DELHI: Coal IndiaBSE 1.29 % CMD S Bhattacharaya has asked employees to raise production, the key performance criterion, in sync with the company's targets as it looks at producing a billion tonnes of the dry fuel by 2020 while ensuring quality of the supplies.

"Coal production is the most important performance criterion and primarily focus should be on taking it to a higher trajectory," Bhattacharaya said in a letter dated October 19 to the CIL employees.

New Delhi: Prime Minister Narendra Modi on Thursday laid the foundation stone for the development of Andhra Pradesh’s new capital, Amaravati, which would stretch across 7,420 sq. km. With only a few capitals to have been developed from ground-up in India, experts say that cultural ethos and overall development should be on the agenda.

Building a new capital is important for the state of Andhra Pradesh after it was bifurcated in June 2014 and Hyderabad became a part of Telangana. The state has till 2024 to build its new capital. In the meantime, Hyderabad will serve as the joint capital for the two states.

New Delhi: Singapore-based TML Holdings Pte Ltd, a subsidiary of Tata Motors Ltd that holds or owns securities of companies other than banks, has raised a $600 million loan from six banks, a company spokeswoman said.

“The loan will be utilized to refinance its USD (US dollar) and SGD (Singapore dollar)-denominated loans signed in November 2013,” the spokeswoman for Tata Motors said in reply to a Mint questionnaire on Thursday. Those loans were taken to infuse money into the company’s operations.

After Maruti Suzuki signing wage revision agreement with its workers at its three plants other major automobile companies including Hero MotoCorp, Honda Motorcycle and Scooter India, and several other auto ancillary companies are also in negotiations with their respective labour unions for wage revision agreements in the Gurgaon-Manesar manufacturing belt.

Most of these companies follow the cycle of revision once every three years and the last revision was done in 2012. Wages of over 5,000 permanent workers and almost double number of contractual and temporary workers in various companies in the region will be determined in the wage agreement for the next three years.

Twitter CEO Jack Dorsey on Friday morning announced that he is giving roughly one-third of his Twitter stock to the company’s employees equity pool – the amount totals $200 million.

He tweeted, “I’m giving ~1/3rd of my Twitter stock (exactly 1% of the company) to our employee equity pool to reinvest directly in our people.”

The Reliance Group on Thursday said it will make fresh investments of up to Rs 46,000 crore in diverse range of sectors like defence, information technology, electronics and energy in Madhya Pradesh.

According to an official release, the announcement for fresh investments came after Reliance Group’s chairman Anil Ambani met Madhya Pradesh Chief Minister Shivraj Singh Chouhan.

Wipro share price declined 1.57 per cent in morning trade on Friday after the company for the third quarter of the fiscal gave a muted revenue growth guidance in the range of 0.5-2.5% in dollar terms. The IT major attributed this conservative guidance to larger number of holidays during the third quarter and the continued weakness in the energy vertical.

At 11.49 am, share price of Wipro was down 1.57 per cent at Rs 568.85. Sensex was trading 221.25 points up at Rs 27,508.91 during the same time.

NEW DELHI: Some food processing companies now brand their products as 'adulterant free' and 'toxic metal free', and work with farmers to ensure quality raw material, to differentiate themselves amid increasing consumer awareness and safety concerns.

LT Foods that sells Dawat brand of rice, for example, will market its soon-to-be-launched atta (flour) brand as toxic metal free. "We will be launching our atta under the Devaaya brand. It will be branded as lead free and will resonate our company's philosophy of selling safe produce," said Vivek Chandra, chief executive officer for global branded business at LT Foods.

STOCKHOLM: STOCKHOLM: Sweden's Volvo forecast another year of growth in the European heavy-duty truck market but slowing or flat sales in most other major markets next year, while sweeping cost cuts drove a bigger than expected rise in third-quarter core profit.

Volvo, a rival of German Daimler and Volkswagen's truck brands, said the European market was seen growing to 275,000 trucks in 2016 from an expected 265,000 this year, the highest level since before the 2008 FINANCIAL crisis.

NEW DELHI: Air India has for the first time approached states directly with an offer to provide connectivity to these regions with smaller aircraft available with its subsidiary Alliance Air, a move it hopes will fetch higher revenues.

Air India CMD Ashwini Lohani has written to all state governments offering Alliance Air aircraft for providing regional connectivity under the viability gap funding model.

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