At a time when the new government wants state-run Oil and Natural Gas Corporation to focus on small and marginal fields, the company is seeking a higher retention price of at least $65 a barrel for crude oil produced from these.

After taking charge, new petroleum minister Dharmendra Pradhan had asked ONGC to increase production from its 165 small and marginal fields, to pull up the country’s overall production.

Tata Motors on Thursday reported 5.14 per cent decline in global sales, including that of Jaguar Land Rover (JLR), to 77,575 units in May. The company had sold 81,783 units in the same month last year.

In the passenger vehicles category, the global sales last month were at 48,414 units, as against 43,142 units in May 2013, up 12.2 per cent, Tata Motors said in a statement.

Idea Cellular Limited, India’s third largest cellular operator, said on Thursday that it has priced its Rs 3,000-crore sale of shares to qualified institutional buyers at Rs 134 apiece. Last Thursday, the company had announced a floor price of Rs 136.98 a share. The final price includes a premium of Rs 124 a share. Idea Cellular closed the issue today.

Alan Mulally, the 68-year-old president and chief executive of US automobile giant Ford, on Thursday expressed confidence on the Indian automobile sector. He said as and when demand rose here, the company would bring its entire range of vehicles---from small cars to trucks to India.

The excitement in the conference room of Infosys' Bangalore headquarters was palpable when the company on Thursday ended a speculation of months by announcing Vishal Sikka, former executive board member at software maker SAP, was going to be the next chief executive officer & managing director. U B Pravin Rao, the company's president at present, was named the next chief operating officer.

Sao Paulo: On 16 July 1950, Uruguay beat Brazil 2-1 in Rio de Janeiro to win the World Cup. In that simple fact lies a national tragedy that has haunted Brazil since, in ways that perhaps only Indians, prone to allowing such events to dominate their lives, will appreciate.

Equity benchmarks continued to be in positive terrain supported by HDFC twins and auto stocks. The Sensex rose 67.47 points to 25541.36 and the Nifty gained 10.10 points at 7636.95.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.4 percent and 0.5 percent, respectively. About 1700 shares have advanced, 1327 shares declined, and 95 shares are unchanged.

MUMBAI: ICICI Bank, the country's largest private sector lender by assets, has let go 1,200 of its staffers, and a few hundred may be on their way out as part of an exercise to cut flab, two people familiar with the development said.

AIR INDIA has expressed concern over the recent increase in the bilateral seat allocation for Abu Dhabi and Dubai in a presentation to the new aviation minister on Tuesday, said officials with the airline.

“We have also raised our concerns about the launch of two new airlines that will soon start flying in the country,” the official said.

The offer for sale (OFS) of L&T Finance Holdings has been subscribed 3.2 times on the National Stock Exchange (NSE). Parent Larsen & Toubro had offered 16.5 million shares for sale, leading to a dilution of 0.96 per cent stake, at a floor price of Rs 74 each. It had said it may sell up to 11 million shares, in addition to the sale of shares.

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