Jaguar Land Rover India (JLR)  Tuesday said it has commenced bookings for locally manufactured Range Rover Velar which is priced at Rs 72.47 lakh. The model comes with both petrol and diesel power-trains, priced similarly at Rs 72.47 lakhs. JLR India President & Managing Director Rohit Suri in a statement said, “we continue to focus on providing the best of British design, luxury and technology at highly competitive prices and we are sure that local manufacturing of the Range Rover Velar will make it even more desirable." The local manufacturing of the model also reaffirms the company's commitment to the Indian market, he added. Read EquityPandit’s Nifty Auto Outlook for the Week

To protect the investments of pension funds and provident funds, the National Company Law Appellate Tribunal has sought the details of the investment of such funds in “amber” companies of the debt-laden Infrastructure Leasing and Financial Services (IL&FS). The IL&FS group has a total group debt of Rs 94,216 crore. The tribunal may be keen to release at least those payments that are due to these funds. The Two-member bench led by justice SJ Mukhopadhaya on Monday said, “How many companies are there who have provident funds and pension funds. You release them. We want that that should be released first.” Counsel for IL&FS said that if payments were made to individual creditors of amber companies, it would have a negative impact on the resolution of other group entities. All but 50 of th

Bhati Airtel Ltd. has received market regulator securities and exchange board of India’s approval to raise up to Rs 25000 crore through rights issue. The board of the company had approved the rights issue proposal in February. Bharti Airtel spokesperson said, "the company is in process of obtaining required approvals and shall make necessary announcements at an appropriate time". The board had earlier approved the rights issue to raise up to Rs 25,000 crore through issuance of fully paid-up shares at a price of Rs 220 per share, and an additional Rs 7,000 crore via foreign currency perpetual bond issue. Singapore telecom major Singtel said it will infuse Rs 3,750 crore in Bharti Airtel by subscribing to the proposed Rs 25,000-crore rights issue of the company, while GIC Pvt. Ltd., on behalf of Singapore g

Tata Steel Ltd. becomes the country’s biggest producer as Indian steel output rose to a record high in its latest financial year after the 2018 acquisition of Bhushan Steel Ltd. assets. A Mumbai based company said in a statement on Saturday that production rose 35 percent to 16.79 million tons in the year ended on March 31 as Bhushan Steel added 4.2 million tons of output. Tata’s outputs are higher than the target by JSW Steel Ltd. which was 16.75 million tons. JSW is yet to release its latest final numbers for 12 month period. However, Tata’s European Division fell 3.7 percent during 12 months to March to 10.3 million tons, the company said. The European Commission is reviewing to merge a plan by Tata; its European operations with operations of ThyssenKrupp AG. Read EquityPandit’s Nifty Metal Outlo

Larsen and Toubro Ltd. have reported its highest quarterly order inflow, topping its guidance first time in at least six years and beating uncertainty ahead of the election. India’s largest engineering conglomerate, a bellwether for investments, needed fresh orders worth Rs 47,900-50,900 crore in the quarter ended March to meet its annual growth forecast of 10-12 percent. Going by the disclosures through the quarter, L&T received orders in the range of Rs 42,060-69,560 crore during the period. Analysts expect the actual order inflow to be the average of the range or even higher, helping the company surpass its guidance. From the fourth quarter, the company stopped giving exact order details but classified into four buckets in the range of Rs 1,000-2,500 crore (significant); Rs 2,500-5,000 crore (large);

As per a report of the U.S health regulator, drug firm Lupin Ltd. is recalling over 12,000 cartons of Fayosim Tablets which is birth control tablets, used to prevent pregnancy, from the American Market. 12,464 cartons of Fayosim (levonorgestrel and ethinyl estradiol) tablets USP, (0.15 mg/0.02 mg, 0.15 mg/0.025 mg, 0.15 mg/0.03 mg) and ethinyl estradiol tablets USP (0.01 mg) packaged in 1 extended-cycle wallet of 91 tablets packed in a pouch in addition; is been recalled by Lupin Pharmaceuticals Inc. "Failed impurities/degradation specifications: out-of-specification results observed in related substance test in Ethinyl Estradiol tablets USP 0.01mg at 12-month long-term stability study," the enforcement report of the United States Food and Drug Administration said stating the reasons for recalling. "Situati

The bidding event for stake sale in Jet Airways Ltd. is likely to begin from Monday as the bid document is still to be given a final shape. The State Bank of India led the consortium of 26 lenders, which now has the management control of the full-service carrier under a debt-recast plan, last Thursday said bid for the stake sale in Jet Airways airline would be issued on April 6. Under the debt resolution plan approved by the Jet Airways' board on March 25, lenders have taken the majority stake in the airline and are set to infuse Rs 1,500 crore funds. Besides, the carrier's founder and promoter Naresh Goyal, as well as his wife Anita Goyal, quit the board. The shareholding of Goyals has come down to 25 percent from 51 percent earlier. The statement issued by lenders last week said, "the lenders are cognisant t

The Competition Commission of India said that it had approved the diversified group Larsen & Toubro Ltd.’s proposed acquiring of up to a 66.15 percent stake in IT firm MindTree Ltd. L&T has made an offer to achieve a majority stake in MindTree and a committee of the It firm’s independent directors is looking into it since deal beyond a certain threshold requires clearance from the fair trade regulator. It said in a statement, “acquisition of up to 66.15% of the total equity shareholding of Mindtree Limited, on a fully diluted basis, by Larsen and Toubro Limited" L&T acquired Cafe Coffee Day-owner VG Siddhartha's 20.32 percent stake in Mindtree and has also placed an order with brokers to pick up another 15 percent shares from the open market. Besides, an open offer has been made to buy ove