State-owned National Thermal Power Corporation (NTPC) has denied any plan to step into the 4,000-mega watt (MW) Tilaiya ultra mega power plant (UMPP) in Jharkhand after Reliance Power pulled out of the project citing undue delays in acquiring land for the project.

NTPC has clarified that it was not interested in taking over the project contrary to the prevailing “wrong impression that NTPC is very keen to step into the Tilaiya project”.

A deal signed between engineering firm L&T and French nuclear vendor Areva for maximising the localisation of critical components for the proposed 10,000-MW nuclear power plant at Jaitapur marks a desperate attempt to prune the cost of each of the six 1,650 MWe (mega watt electric) reactors to be deployed at the site in Maharashtra to about $4 billion. This is expected to translate into a generation cost equivalent of about Rs 7 per unit.

Social networking website Facebook may roll out a new feature called ‘Instant Articles’, which will offer news organizations, special ad models that will allow them to put news articles and videos on the site.

The move is made to get more sign-ups and user engagement as well as to provide the existing ones, an option to read posts and watch videos right from their News Feeds rather than loading website links.

Microsoft has acquired Digital Pen Tech Developer N-Trig for $30 million. N-Trig has been Microsoft’s partner since 2008.

Last year an N-Trig became a part of Microsoft’s Surface Pro 3 package, as per company’s blog post. Stevie Bathiche, Distinguished Scientist, Microsoft Surface, commenting on the acquisition said, “We can’t wait to show you what we’ll deliver for our Surface Fans in the future.

Mumbai: Reliance Jio Infocomm Ltd (R-Jio) has outspent most telecom operators in India and may soon surpass Bharti Airtel Ltd even before the telecom unit of Reliance Industries Ltd (RIL) has started commercial operations, illustrating the extent billionaire Mukesh Ambani is willing to go to tap demand for wireless data in the world’s second biggest smartphone market.

R-Jio, which will start operations later this year, has spent $14 billion so far, more than India’s third largest mobile phone operator Idea Cellular Ltd.

Mumbai: Maruti Suzuki India Ltd gained as much as 8% while Mahindra and Mahindra Ltd rose 3.74% after top four players in passenger car segment registered double-digit volume growth in April.

“Narrowing gap between petrol-diesel fuel prices and increase in share of first-time buyers helped Maruti’s Mini segment register growth of 36% off a weak base,” Jefferies Llc, an American global investment bank and institutional securities firm said in a note.

Beijing/New Delhi: General Motors (GM) aims to grab at least 5% market share in India within the next decade, as it sees that market overtaking Japan as the world’s third biggest with projected annual sales of 8 million vehicles by 2025.

The Detroit car maker, which is losing money in India even after 18 years there, will unleash a product blitz aimed at reviving sagging sales, and will make India a new global manufacturing and export hub, taking some of the strain off South Korea, where labour costs have ballooned in recent years.

Mumbai: Loss-making Air India Ltd has decided to sell several real estate assets in India and abroad to raise Rs.1,200 crore in the next 24 months, two Air India executives said. To begin with, Air India in April sought the necessary permissions from the ministry of civil aviation to sell its real estate assets in Chennai, Coimbatore and Mumbai.

However, this move to reduce debt and cut interest costs may not be easy, caution experts.

The Navi Mumbai police on Friday filed a first information report against e-commerce major Snapdeal.com CEO Kunal Bahl and five other firms for allegedly selling drugs, including prescription drugs, online.

Maharashtra’s Food and Drug Administration (FDA) investigated a complaint regarding sale of these drugs online and had ordered a complaint to be registered.

Distinctly weak tendency prevailed for the third week in a row as the benchmark S&P BSE Sensex and the CNX Nifty plunged by another 1.5 pct to close at almost four-month low on host of negative factors during the truncated week under review.

The BSE Sensex and the NSE Nifty were closed on May 1, for observing “Maharashtra Day” holiday.

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