Taxi aggregator app Ola will invest Rs 5,000 crore in the coming year to expand its newly formed cab leasing business.

The Bengaluru-based firm has also roped in former LeasePlan India executive Rahul Maroli as Vice President (Strategic Supply Initiatives) to head the leasing business that will operate as a fully-owned subsidiary company.

The BSE Sensex and NSE Nifty closed 246 points and 82.95 points up at 25,856.70 and 7,872.25, respectively, on Monday.

In the 50-share index, NTPC, Vedanta, BPCL, Hindalco and Tata Steel gained between 3.40 per cent and 5.50 per cent. On the other hand, Cairn India, Idea Cellular, Bajaj Auto, Maruti Suzuki and TCS slid between 0.50 per cent and 1.61 per cent.

CHENNAI: Tata MotorsBSE 0.35 % is working on a combination of network expansion, dealer development and product repositioning to turn around its passenger vehicle sales. According to a top company official, this, along with an aggressive new products strategy with plans to launch two new vehicles every year, is expected to help the company regain its position in the industry pecking order. Put in place by Mayank Pareek, president (passenger vehicles business unit), Tata Motors, the new strategy has already helped Tata Motors gain 1 per cent market share in the first five months of this financial year.

Telecom industry analysts said the recent government decision for easing of norms to share or trade underutilised spectrum could make Reliance Jio go for hard bargaining with potential seller Reliance Communication (RCom) as the rules have made spectrum trading costlier.

According to the spectrum trading guidelines, a telecom operator can share or trade their underutilised spectrum obtained via auction.

The Mahindra group today announced its debut into the e-commerce space with the launch of M2ALL.Com, an e-marketplace for Mahindra products and services.

The online marketplace has begun taking bookings for the new compact SUV -- Mahindra TUV300.

Mumbai: The Indian rupee on Monday strengthened against the US dollar ahead of key inflation data due later in the day.

At 9.08am, the home currency was trading at 66.46, up 0.13% from its previous close of 66.54. The local unit opened at 66.42 per US dollar.

New Delhi: In what could be a good news for lakhs of taxpayers, the Income Tax Department will now process and send refunds in a short time of 7-10 days as its latest technology upgrade of electronic and Aadhaar-based ITR verification has begun on a successful note.

The department’s latest initiative to verify an Income Tax Return (ITR) by Aadhaar or other bank database has received positive response from ITR filers because of which the taxman, for Assessment Year 2015-16, was able to process and send refunds to bank accounts of eligible taxpayers in less than 15 days time.

New Delhi: More than a third of the 69 small and marginal oil and gas fields that the government plans to auction to private firms are in Mumbai Offshore and the biggest of them holds about 15 million tonnes of oil reserves.

Of the 69 idle oil and gas fields of state-owned Oil and Natural Gas Corp. Ltd (ONGC) and Oil India Ltd which are to be auctioned, 27 are in Mumbai Offshore while another 15 are in the prolific Krishna Godavari (KG) basin, official sources said.

Local search engine Just Dial has launched a new Android App, Search Plus, on Google Play Store.

“The company has launched its latest Android app on Google Play Store for users. The company has also submitted its new iOS app to Apple App Store and is expected to go live shortly,” the company said in a filing to the BSE.

KOLKATA: A leading body of plant and equipment manufacturers has sought Prime Minister Narendra Modi's intervention to withdraw a recent draft order proposing mandatory standards in making of stainless steel flat products.

The Process Plant and Machinery Association of India (PPMAI), which counts the likes of Larsen & Toubro, Godrej, Thermax and Praj Industries among its members, said in a letter that the draft quality control order will discourage investment in key manufacturing sectors as quality rules under the Bureau of Indian Standards (BIS) are not comprehensive and updated. There is also little demand for stainless steel meeting Indian standards, it said.

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