Jet Airways has decided to scrap its low-cost brand, Jet Konnect, launched five years ago, to focus on its full-service operation, as it faces competition from established airlines and start-ups like AirAsia and Vistara.

The airline, which reported its sixth straight quarter of losses on Monday (though it managed to reduce the figure), will reconfigure all its Boeing planes and offer a standard configuration of 12 business class and 156 economy seats. Jet Airways hopes to switch to the single model by the end of the year.

The Odisha government has taken exception to the Centre’s proposal to phase out four old thermal units of NTPC Ltd with combined capacity of 250 Mw at its Talcher Thermal power station (TTPS).

The retirement of these four units, each with capacity of 62.5 Mw, would mean a loss of 250 Mw to Odisha since the entire power generated by NTPC's TTPS is supplied to state owned bulk power purchaser Gridco as per a power purchase agreement (PPA). The four units were identified to be phased out since they are old units commissioned during 1967-69.

Vishal Sikka keeps shaking his head to stop the steward from refilling his plate every time he shifts his attention to something else. "This is Indian culture. They want to pamper you, quite unlike in the US where you are expected to help yourself. You feel flattered, but you tend to gain fat as well," Infosys' new managing director and chief executive officer jokes during a lunch he hosted for the media on his first day in office on August 1.

The benchmark BSE Sensex recovered over 221 points in early trade today as realty stocks led the rebound after market regulator SEBI yesterday approved new norms for setting up and listing of Real Estate and Infrastructure Investment Trusts.

Besides, positive cues from other Asian markets also buoyed the sentiments.

The government will make up its mind on the gas pricing issue after the Budget session of the Parliament ends. Arun Jaitley needs to take a final call on the matter but the government cannot ignore the public interest litigation (PIL) on in the Supreme Court that was filed by Prashant Bhushan and Gurudas Dasgupta, the Business Standard reported.

Amid speculation that Atal Bihari Vajpayee and Subhas Chandra Bose might be named for Bharat Ratna, a Congress leader on Sunday said BSP founder Kanshi Ram and Aligarh Muslim University founder Sir Syed Ahmed Khan should also be given the country's highest civilian award.

Rashid Alvi said Subhash Chandra Bose should be given the award and the Andaman and Nicobar Islands should be named after Netaji as he had brought freedom to the islands much before the mainland.

Mahindra and Mahindra (M&M) has surged over 4% to Rs 1,281 on expectation of agri machinery sector would get strong booster over next 2-3 years as better prospects of agriculture sector supported by number of government aids and more focus on rural economy by new government.

The stock opened at Rs 1,240 and hit a high of Rs 1,284, also its lifetime high on National Stock Exchange (NSE). A combined 371,186 shares changed hands on the counter so far on NSE and BSE.

Larsen & Toubro (L&T) will strengthen its project management team and go in for subcontracting instead of hiring local staff in the Persian Gulf, following a Rs 942-crore pre-interest and tax loss in the hydrocarbon segment in the last quarter.

L&T posted a 111 per cent year-on-year growth in consolidated net profit to Rs 967 crore in the first quarter of 2014-15 on the sale of its stakes in its finance services company, L&T Finance Holdings, and Dhamra port.

State-run Central Bank of India had appointed SBI Caps to identify a buyer for its stake in Infrastructure Leasing & Financial Services (IL&FS), a senior bank official told the Press Trust of India. He, however, refused to put a valuation for the 8.34 per cent stake in the unlisted firm.

The bank is one of the promoters of IL&FS and holds 8.34 per cent stake in it, according to the company's website.

The Securities and Exchange Board of India (Sebi) on Sunday set the stage for launch of Real Estate and Infrastructure Investment Trusts, commonly referred to as REITs and InvIT.

In the final regulations, the market regulator has made some major changes to what it had proposed earlier. These include allowing foreign institutional investor (FII) participation and reducing the minimum asset size for a REIT. Those in the sector said these two new instruments had the potential of attracting nearly Rs 1 lakh crore to the cash-starved real estate and infrastructure sector.

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