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MUMBAI (Reuters) - Tata Motors Ltd on Monday showed off the first variant from its new series of petrol engines, expected to power some of its future cars, as the company looks to capture a returning shift in consumer preference for the fuel.With the government allowing fuel retailers to gradually increase the price of diesel - a popular fuel in India thanks to government subsidies - the gap between the prices of petrol and diesel is narrowing, causing demand to slowly gravitate back towards petrol cars.Tata Motors, which has seen sales plunge this year amid a wider slowdown in the auto market, generates the bulk of its passenger vehicle sales through diesel-powered vehicles."Petrol represents a big opportunity for us. Our play in petrol has been lower than we have in diesel," Ranjit Yadav, president of the company's passenger vehicle business unit, told reporters.The new 1.2 litre turbocharged engine will be used in the company's compact vehicles, some of which are expected to be launched later this year.(Reporting by Aradhana Aravindan; Editing by Anand Basu)

Humbled by response to Maggi but not intimidated by Ramdev's noodles, says Nestle chief

from firstpost

Humbled by response to Maggi but not intimidated by Ramdev's noodles, says Nestle chief

Mumbai: Nestle India on Wednesday said its Maggi brand of noodles is getting good traction in the market ever since it was reintroduced last November, and asserted that it is "not intimidated&quo...


Flipkart to continue funding discounts, says Sachin Bansal

from firstpost

Flipkart to continue funding discounts, says Sachin Bansal

Mumbai: E-commerce major Flipkart will continue to fund discounts to win customers and stay ahead ofthe competition while investing in back-end operations, the company's co-founder and chief executive...

Govt to meet FY16 tax collection target of Rs 14.49 lakh crore

from firstpost

Govt to meet FY16 tax collection target of Rs 14.49 lakh crore

New Delhi: For the first time in five years, the government is likely to meet Rs 14.49-lakh crore budgetary tax collection target for 2015-16 with robust indirect tax mop up making up for the shortfal...

Why allow FDI only in marketplace e-comm? Need of the hour is to open up retail sector

from firstpost

Why allow FDI only in marketplace e-comm? Need of the hour is to open up retail sector

New Delhi - When the government goes around in circles over drafting policy for any sector, smart businessmen usually find a way to circumvent prevailing laws. Retail trade has been a bane for success...

IOB Q3 net loss widens to Rs 1,425 cr on mounting bad loans

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IOB Q3 net loss widens to Rs 1,425 cr on mounting bad loans

New Delhi: State-run Indian Overseas Bank (IOB) today reported widening of net loss to Rs 1,425.06 crore for the December quarter on the back of higher provisioning against bad loans.The bank had post...

Global turmoil battering market, govt taking measures, says finance ministry

from firstpost

Global turmoil battering market, govt taking measures, says finance ministry

The finance ministry on Tuesday attributed the fall is domestic equities to turmoil in global economy and said the government is taking measures to address the challenges."Global economy is in tu...

Rs 137,000 cr wiped out in 6 mths: How state-run banks' NPAs burnt a hole in investors' pockets

from firstpost

Rs 137,000 cr wiped out in 6 mths: How state-run banks' NPAs burnt a hole in investors' pockets

By Prasanna Deshpande and Kishor KadamIndia's state-run banks, on the verge of a crisis on account of escalating bad loans and capitals scarcity, are witnessing sharp erosion in their share values. Ev...