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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)

In growth push, Jaitley draws up Rs 70,000 cr capital infusion over 4 years

from firstpost

In growth push, Jaitley draws up Rs 70,000 cr capital infusion over 4 years

New Delhi - Planning to inject $11 billion of capital into debt-laden state banks over the next four years, Finance Minister Arun Jaitley on Friday sought parliament's approval to boost budget spendin...


Capital infusion of Rs 25,000 cr a good beginning, says Rajan

from firstpost

Capital infusion of Rs 25,000 cr a good beginning, says Rajan

New Delhi: Reserve Bank Governor Raghuram Rajan today said Rs 25,000 crore of capital infusion planned by the government in public sector banks this fiscal is "adequate and a good beginning"...

Non-subsidised LPG rates cut by Rs 23.50 per cylinder

from firstpost

Non-subsidised LPG rates cut by Rs 23.50 per cylinder

New Delhi: Price of non-subsidised LPG, which consumers buy after exhausting their quota of subsidised cooking fuel, was today cut by Rs 23.50 per 14.2-kg bottle, in sync with international rates.Non-...

Sebi impounds Rs 15 cr from Sharekhan, others for front-running

from firstpost

Sebi impounds Rs 15 cr from Sharekhan, others for front-running

Mumbai: Busting a major 'front running' case in the stock market, Sebi today ordered impounding of unlawful gains worth nearly Rs 15 crore from brokerage firm Sharekhan and 15 other entities.The order...

Petrol price cut by Rs 2.43 per litre, diesel by Rs 3.60

from ibn

Petrol price cut by Rs 2.43 per litre, diesel by Rs 3.60

New Delhi: Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre, the third reduction in rates in July, with effect from Friday midnight. Petrol in Delhi will cost Rs 64.47 per litr...

Hong Kong fines SBI for anti-money laundering law violation

from firstpost

Hong Kong fines SBI for anti-money laundering law violation

New Delhi: The Hong Kong central bank today penalised State Bank of India's Hong Kong branch $1 million (Hong Kong dollar 7.5 million) for alleged violation of local anti-money laundering and counter-...

Currency tonic: Govt to infuse additional Rs 800 crore into Air India

from firstpost

Currency tonic: Govt to infuse additional Rs 800 crore into Air India

New Delhi: The finance ministry today sought Parliament's nod for making an additional equity infusion into Air India worth Rs 800 crore, less than half the amount sought by the civil aviation ministr...