Mumbai: The Indian rupee on Wednesday opened marginally lower against the dollar tracking mixed cues in the Asian currencies market.

The local currency opened at 59.33 per dollar against its Tuesday’s close of 59.3.

Mumbai: Reliance Communications Ltd (R-Com), India’s fourth-largest telecom services provider, said on Wednesday that it had expanded its 3G footprint to five new circles in India—Karnataka, Andhra Pradesh, Tamil Nadu, Kerala and Uttar Pradesh (East).

This takes its 3G presence to 18 circles.

New Delhi: The management of Air India has requested the new government to release the next cash infusion due to it under a Rs. 30,000 crore rescue plan.

The plan, approved in 2012, involves helping the state-owned airline cut its high-cost debt and turn around its operations.

New Delhi: A month after the exit of Tata Motors Ltd senior vice-president of passenger vehicle business unit, two more top-level executives have put in their papers, the company’s corporate steering committee (CSC) said in a message to employees.

The new executives to join the departure list are Venkatram Mamillapalle, head of purchases, and Rajesh Bagga, head of human resources and legal.

Mumbai: Idea Cellular Ltd is planning to raise Rs.750 crore by issuing equity shares to Axiata Group Bhd of Malaysia on a preferential basis.

India’s third largest wireless service operator will issue 51 million equity shares at Rs.144.68 apiece, aggregating to approximately Rs.750 crore on a preferential basis to Axiata Investments 2 (India) Ltd, a wholly owned subsidiary of Axiata Group.

L&T Finance Holdings has dipped over 5% to Rs 77.55 in early morning deals on the National Stock Exchange (NSE), after the promoter Larsen & Toubro (L&T) share sale programme for diluting 0.95% of its stake commenced today at bourses.

L&T, the promoter of the company, proposes to sell over 16.55 million shares in L&T Finance Holdings at a floor price of Rs 74 per share. This translates into about 10% discount over Tuesday's closing price of Rs 81.90 on the NSE.

All three listed subsidiaries of State Bank of India (SBI) - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT) - have rallied by up 18% on the bourses on reports that SBI proposes to merge its five remaining subsidiaries with itself.

State Bank of India, the nation's biggest lender, will kick off consolidation in the banking industry by combining five associate banks as it prepares to fund the economy that is on the cusp of a strong growth like China two decades ago, the Economic Times report suggests.

Benchmark indices continue to trade in a narrow range with positive bias led by IT shares.

At 10:10 AM, the 30-share Sensex was up 18 points at 25,601 and the 50-share Nifty was up 4 points at 7,660.

On the global front, the euro came under mounting pressure on Wednesday as the European Central Bank's liquidity package encouraged flows out of the zone, while Asian shares consolidated near recent highs following a flat finish on Wall Street.

Car makers have started hiring from Gujarat's industrial training institutes (ITIs) for their factories across the country.

Maruti Suzuki India Ltd last year administered tests to 1,100 candidates at the Kubernagar ITI in northeast Ahmedabad. "Maruti Suzuki had recruited 40-45 candidates here for their Gurgaon plant. It has indicated it will test candidates again this month. Accordingly, we have prepared a list of around 1,000," said A J Pandey, placement coordinator for the Kubernagar ITI.

Infosys, the country's second biggest information technology company, going through a troubled leadership transition, has sent legal notices to three Indian newspapers for the first time in its history since seven entrepreneurs, including N R Narayana Murthy, set it up.

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