Hyundai Motor India Ltd. (HMIL), the country’s second largest car manufacturer and largest car exporter, on Saturday said it is hiking prices for all its models except the newly launched compact SUV Creta.

The price increase will be up to Rs 30,000 across models, effective August 1,2015.

NEW DELHI: Maggi controversy has claimed its first victim at Nestle. The Swiss food giant's India MD Etienne Benet is getting transferred to its headquarters in Switzerland. He will be replaced by Suresh Narayanan, chairman and CEO of Nestle Philippines, who is slated to assume office from next month.

Benet, who joined Nestle India in October 2013, oversaw the company's operations during the Maggi crisis. He is also one of the first heads to roll, said a senior executive from Nestle India. "You can expect three to four more senior executives to leave in the coming weeks," he said.

New Delhi: India’s appliance and consumer electronics sector is set to grow at a compound annual rate of 13.4%, to touch $20.6 billion by 2020, global consulting firm EY said in a report released on Friday.

The market was worth $9.7 billion in 2014, it said, adding that the annual growth rate was 9.7%.

Bengaluru: Wipro Ltd has come up with a clutch of measures to improve its delivery side of business. It believes the measures will help it return to industry-matching growth numbers and generate more revenues from existing clients.

Chief executive officer T.K. Kurien said that benefits of these steps should start reflecting from the December quarter, although the management declined to share by when it will get back to industry-matching growth numbers.

MUMBAI: HDFC Bank is rolling out handheld machines across India that could work just like ATMs through which customers in rural areas, where setting up full-fledged ATM kiosks is proving to be commercially unviable, can carry out most banking transactions.

Launched less than a year ago, currently through about 1,550 such 'micro ATMs' the bank sees transactions aggregating about Rs 1 crore a month in rural areas.

The Labour Ministry is all set to cap premature provident fund withdrawal at 75% of total deposits in case an EPFO subscriber goes without a job for two months.

The rest 25% would be paid to the subscriber at the age of 58 years.

Riding on six-year high refining margins and strong petrochemicals earnings, Reliance Industries Ltd (RIL) posted a 4.4 per cent increase in consolidated net profit for the June quarter of 2015-16 at Rs 6,222 crore. For the year-ago period, net profit stood at Rs 5,957 crore. The refining and petrochemicals segment contributed 91 per cent to gross sales and 95 per cent to the operating profit, boosting RIL’s overall profitability.

A Bloomberg poll of analysts had expected the firm to post a profit of Rs 6,211 crore, growth of 4.3 per cent.

TVS Motor Company Ltd has posted a 25% increase in net profit to Rs 90.2 crore for the quarter ended June 30, 2015 from Rs 72.3 crore for the quarter ended June 30, 2014.

Total Income has increased to Rs 2630.8 crore for the quarter ended June 30, 2015 from Rs 2313.6 crore for the quarter ended June 30, 2014, an increase of 13.71%.

Mumbai: HDFC Bank Ltd has emerged as the leader in mobile banking with 38.2% market share in FY15, followed by ICICI Bank Ltd, according to data compiled by BNP Paribas Securities India Pvt. Ltd. Most of the state-run banks, which account for more than 70% of the banking assets in the country, are clear laggards in this segment, with just 17% share in total mobile transaction value.

With urban customers and those below 35 years of age clearly preferring mobile banking, market leaders in this segment stand a better chance of becoming their primary bank. Lenders who win the battle in this space will be able to bolster their low-cost deposit base and fees.

Mumbai: Pioneer Natural Resources Co., one of the biggest shale gas companies in the US and partner of Mukesh Ambani’s Reliance Industries Ltd (RIL) in the Eagle Ford Shale acreage, has cut the guidance for production of shale gas and oil for the current calendar year from Eagle Ford.

In a note to investors on 23 July, Pioneer said the company had to cut the production guidance in Eagle Ford Shale due to “lower than estimated production” because of technical and weather-related delays in the second quarter of the current calendar year. This led to a drop in the number of wells brought under production in the second quarter.

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