India's leading private air carrier, Jet Airways, and state-owned operator Air India Monday announced fare cuts. While Jet will reduce the fares on its domestic routes by up to 40 percent with immediate effect, Air India is expected to announce the quantum Tuesday.

Engineering major Escorts Ltd notched profits of Rs.118.7 million (Rs.11.87 crore) in 2007-08 on account of a higher domestic market share and greater cost and operational efficiencies, the company said Monday.

Hyundai Motors India Ltd, the country's second largest car maker, Monday said the slowing domestic demand, fall in exports and increasing input costs have crippled sales this year, and urged the government 'to do more' to save the auto industry.

In a day of swift developments, independent director M. Rammohan Rao resigned from the board of IT major Satyam Computer Services, the company said Monday.

The minority holding of promoters in Satyam Computer Services is feared to have been diluted by institutional lenders with which the shares were pledged through a holding firm, the IT bellwether said Monday.

Civil Aviation Minister Praful Patel Monday set the ball rolling for a Rs.16-billion upgrade of the international airport here, which will include a new terminal, modern taxiways and extension of a runway so that it can handle the giant Airbus A-380 aircraft.

Indian equities markets started the last week of 2008 with handsome gains, with a key index rising 2.19 percent Monday from its previous close.

IT solutions provider Sun Microsystems India and Indian Institute of Technology (IIT) Delhi are launching an e-governance centre on the IIT campus here to focus on development of non-proprietary software.

Indian equities markets Monday moved to the green Monday, with a key index ending trade 2.19 percent higher than its previous close.

Though violent separatist insurgencies continued to rock most northeastern states in 2008, the region also saw mobilisation of investments, the launch of the ambitious Vision 2020 and new governments in four states.

Civil Aviation Minister Praful Patel will inaugurate the modernisation project of the Netaji Subhash Chandra Bose International Airport here Monday evening.

Telecom operator Unitech Wireless, a subsidiary of real estate major Unitech, Monday said it has received 4.4 MHz of spectrum in the 1,800 MHz GSM bandwidth in four service areas.

The West Bengal government Monday allotted 748.97 acres to Jai Balaji Industries for setting up a five-million-tonne integrated steel plant at Raghunathpur in Purulia district.

Indian equities markets shook off morning losses in afternoon trade Monday, with a key index trading 0.75 percent higher around 90 minutes before the closing bell.

Satyam Computer Services Monday announced the resignations of director Vinod K. Dham and non-executive director Krishna G. Palepu from the company's board of directors.