Tata Hitachi Construction Machinery Company Ltd, a JV between Tata Motors and Japan’s Hitachi Construction Machinery, is expecting its 100-tonne dump truck to hit the market during the first half of 2016.

Rana Sinha, managing director of Tata Hitachi Construction Machinery Company Ltd, said, “The 100-tonne dump truck is very much on the cards. We are conducting trials and expect it to be launched in 2016.”

Infosys Executive Chairman N R Narayana Murthy on Friday said the departure of 10 senior executives was in the best interests of the city-based information technology company.

“As we embark on a newer and better horizon for our employees and our clients, we will see some transition in leadership,” Murthy said in an email to Infosys employees on Friday. “Please rest assured that the leadership changes take into account the best interests of the company.”

It’s official. Narendra Modi has inherited sub-five per cent growth from the United Progressive Alliance government. For 2013-14, the economy grew 4.7 per cent, against 4.9 per cent projected in the advance estimates, pulled down by manufacturing, mining, construction and logistics, official data showed on Friday.

Private Sector lender YES Bank has raised $500 million via the qualified institutional placement (QIP) route. With this issue, the promoters have divested 12.9 per cent stake in the bank. Earlier the promoter shareholding in the bank stood at 25.55 per cent but after the QIP issue the stake has come down to 12.65 per cent.

Private sector lender ICICI Bank raised $ 250 million on Thursday through Reg S bonds. Reg S bonds are offered to non-US residents and qualified institutional buyers under an exception to US securities laws enacted in 1990, and do not enjoy the same legal protection as other issues.

Engineering and construction company Larsen and Toubro (L&T) reported 69 per cent growth in net profit for the quarter ended March on the back of improved operational performance, higher sales and an exceptional income of Rs 484 crore from dilution of its stake in L&T Finance. Net profit on a standalone basis stood at Rs 2,723 crore in the fourth quarter against Rs 1,609 crore in the same period last year. Even after adjusting for one-time gains, the company has beaten analyst estimates by a long shot.

DLF plans to halve its debt would be delayed by up to two years, a statement from the realty company said on Friday.

Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore through the sale of non-core assets and improved cash flows.

Mumbai: Shares in DLF Ltd rose 2% on Friday after falling as much as 4% in early trade after its January-March earnings fell short of some analysts’ estimates.

The real estate developer on Thursday reported a profit in the fourth quarter, helped by a gain from the sale of its Aman Resorts luxury hotel chain.

Mumbai: Uday Kotak, the founder, vice chairman and managing director of Kotak Mahindra Bank Ltd, on Friday reduced his stake in the lender to 40.3% from 43.58% to comply with a Reserve Bank of India (RBI) direction to do so, the bank said in an emailed statement.

Injury-hit India will be seeking to reverse the tide of their recent encounters against Europe’s rising hockey powerhouse Belgium in the World Cup opener at the Kyocera Stadium on Saturday.

Far removed from the glorious era of India’s global domination, the Sardar Singh-led team is aspiring to give a credible show in the World Cup, where India has not qualified for the semifinals for nearly four decades since the title triumph of 1975 in Kuala Lumpur.

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