Mumbai, March 25: Tata Motors has fixed the price of ordinary shares at Rs 450 apiece and Class A shares at Rs 271 each for its Rs 7,500-crore rights issue, one of the largest in the domestic capital markets.

In its filing with the BSE today, the company said it would offer six shares for every 109 shares of both ordinary and Class A shares.

India Inc has been complaining of excessive tax demand. It seems the taxman is not sparing even the regulators now.

Capital markets regulator Securities and Exchange Board of India (Sebi) has been asked to furnish its fee income details earned since 2012 till date by the service tax department. The tax department had issued several notices to Sebi to share the details for assessment of service tax liability 2012 onwards. As per initial assessment by the tax department, Sebi's service tax liability will be more than Rs 500 crore.

Shares of public sector undertaking (PSU) banks were trading lower for the fifth straight trading session on the National Stock Exchange (NSE) with the CNX PSU Bank index hitting five-month low today.

At 1449 hours, CNX PSU Bank index, the largest loser among sectoral indices, was down 1.6% at 3,444 points compared with 0.15% fall in the CNX Nifty and a marginal 0.10% rise in Bank Nifty.

Tata Motors, India's biggest automaker, has secured board of directors approval for a Rs 7,500 crore rights issue to fund its on-going and future activities.

The Mumbai-based company will issue little over 150 million ordinary shares at Rs 450 per share.

NEW DELHI: The government on Tuesday allotted 38 coal mines, from the allotments earlier cancelled by the Supreme Court, to central and state public sector units (PSUs).

"The government has allotted 38 coal mines to central and state PSUs," Coal Secretary Anil Swarup announced here.

Microsoft is launching Azure App Service today, a new cloud-based service that gives developers a single service for building mobile and web apps, combined with tools for automating business processes across cloud services, and a new service for building and consuming APIs. All of these services revolve around Microsoft’s oft- (and over-) used mantra of “mobile first, cloud first.”

Not all of the tools that are part of this new package are new, though. Turns out, Microsoft built App Service on top of existing tools like Azure Websites, Mobile Services and Biztalk Services. Microsoft will migrate all existing Azure Websites users to the new package (for the same price).

Mumbai: Air India Ltd, the country’s largest airline by fleet size, is expected to post a small operating profit in the year starting 1 April, in a first sign that the ailing national carrier is beginning to turn around.

Most of the national flag airline’s units, including its ground-handling business, regional airline operations and international low-fare services, are also expected to post net profit for the next financial year, according to Air India’s budget estimates for the next financial year.

The benchmark BSE Sensex rose over 87 points today as stocks of healthcare, IT and realty sectors saw heavy buying on covering-up of short positions by speculators ahead of tomorrow’s monthly expiry in derivatives segment amid a mixed trend at other Asian bourses.

The 30-share index, which had lost 574.66 points in the previous five consecutive sessions, gained 87.88 points, or 0.31 per cent, to 28,249.60.

BENGALURU: Top software service exporters are under pressure to drop prices to retain contracts with marquee customers such as American Express and Home Depot that are up for renewal this year, according to executives and experts involved in the contract negotiations.

Rates have fallen by double digits for some of the biggest customer accounts in the past six months, with companies such as Infosys and Wipro sacrificing profit margins to gain market share and incremental revenue from these key accounts, they said. Retaining strategic outsourcing contracts - that generate at least $100 million annually - is crucial to top IT firms such as TCS, Infosys and Wipro for them to be to mine such accounts that could increase in scope over the years.

Malaysia Airports Holdings Berhad (MAHB) on Tuesday announced a sale of its entire 10 per cent stake in Delhi International Airport Limited (DIAL) to the GMR group for Rs 492 crore. It said having a minority share did not give it any influence over the venture.

DIAL was set up in 2006 as a joint venture of the GMR group (54 per cent stake), the Airports Authority of India, or AAI (26 per cent), and two foreign partners - Fraport AG and MAHB, 10 per cent stake each.

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