Mumbai: Mukesh Ambani’s Reliance Industries Ltd (RIL), which runs the world’s biggest single-location refinery at Jamnagar in Gujarat, more than doubled its product and feedstock hedging in the last fiscal year as a volatile crude exposed risks of huge inventory losses for crude oil refiners.

In 2014-15, RIL hedged a total of 308.71 million barrels annually or 0.85 million barrels per day (bpd) of its feedstock. This is against a total crude oil consumption of 1.32 million bpd that the company needs to run its refinery. This is more than double what RIL hedged in 2013-14, at 150.95 million barrels a year or 0.42 million bpd, according to the standalone numbers in the firm’s annual report released last Wednesday.

Bengaluru/New Delhi: Amazon.com Inc. is famed for its customer obsession: driving prices lower, offering the widest range of products and delivering them faster to its customers. Since launching in India in June 2013, Amazon has applied the same strategy in the country, adding millions of customers and quickly becoming the biggest threat to local rivals Flipkart and Snapdeal.

In the process, the world’s largest online retailer has antagonized at least some third-party sellers or independent merchants that hawk their products through the Amazon.in website. Some of them say that in its obsession with pleasing customers, the company is squeezing sellers hard by putting in place stringent policies on product returns, closing down seller accounts and withholding payments for weeks.

NEW DELHI: A year in office, the Modi government is keen to revive state-owned enterprises BSNL and MTNL, even as they face stiff competition from private players.

BSNL that operates across the country including in remote areas, had posted a profit of Rs 10, 000 crore when the Atal Bihari Vajpayee government left office in 2004, but "when we returned to government in 2014, it was suffering from a loss of Rs 7020 crore," Telecom Minister Ravi Shankar Prasad told TOI.

MUMBAI: PNC Infrastructure listed at Rs 387, a premium of 2.38 per cent, against issue price of Rs 378 on the National Stock Exchange. However, the stock plunged 7.14 per cent below the issue price to touch intraday low of Rs 351 on the back of weak market sentiment.

PNC Infratech is Agra-based infra player having focus on roads & highways construction. In FY2012, it diversified into BOT-Toll & Annuity projects and in FY2014 into OMT projects.

The British telecom major Vodafone is reportedly planning to launch IPO of its Indian arm to raise about $4 billion next fiscal.

The company has appointed NM Rothschild as its consultant to work on roadmap and the paperwork for the public offering will be completed by the end of ongoing financial year, as per reports.

The benchmark BSE Sensex fell further by over 40 points in early trade today, extending its yesterday's slide due to continued selling by participants amid mixed Asian cues.

The 30-share index was trading lower by 40.86 points, or 0.14%, at 27,603.02, with stocks of oil & gas, power, realty, PSUs, auto and IT sectors pulling it down.

Nestle’s travails with regulatory authorities over its Maggi brand last week is a wake-up call for food & beverage companies, says Delhi-based activist body Centre for Science & Environment (CSE).

“I am happy that regulators are testing food products and taking action. As long as you don’t test, you will not know what is going into these. With packaged food consumption on the rise in India, law enforcement will have to get stringent,” said CSE Deputy Director-General Chandra Bhushan.

Chennai-based TVS Motors has said it is not interested in taking over the Uluberia facility in West Bengal.

The company, which entered into a technical collaboration with the promoters of the facility, has been asked to buy out the entire facility.

If you are an ICICI Bank customer then reaching out to the bank’s call centre has just become easies for you. The lender has launched a voice recognition feature, which will now be able to identify and authenticate customers based on your voice. Now, you no longer need to give out your account details or password in order to identify yourself.

This voice recognition technology works on voice prints that will comprise more than 100 characteristics such as voice modulation, speed, accent, pronunciation etc. These will be stored against the customer’s account and will be used to authenticate the details every time they call back.

Mahindra & Mahindra today unveiled an updated version of its sports utility vehicle XUV500, with the price starting at Rs 11.21 lakh (ex-showroom Delhi).

While the entry level variant W4 is priced at Rs 11.21 lakh, the highest trim W10 comes with a tag of Rs 15.99 lakh.

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