With Bharti AXA Investment Managers failing to make much of an impression in the market, Bharti Enterprises is working its way out of the mutual fund joint venture with the French biggie AXA, almost after a year of the registering of the asset management company. The fund, which started its operations in July 2008, had assets under management of Rs 186 crore as of February 2009.

The Bharti decision to exit Bharti AXA Investment Managers - in which Bharti Ventures has a 25 percent stake, while AXA Investment Managers Asia Holdings holds the remaining 75 percent - will not affect its affiliation with AXA in the sphere of life insurance and general insurance.

Larsen & Toubro, the country’s largest manufacturer of equipment for the nuclear power sector, has announced that it has received an order from Bhutan.

The project to be executed by L&T’s construction division is for the construction of the Dam Package, which is a part of the 1,200 MW Punatsangchhu-I Hydroelectric Project Authority in Bhutan.

The project is being set up by the Punatsangchhu-I Hydroelectric Project Authority that has been constituted through a contract between the Indian Government and the Royal Government of Bhutan. 

Accusing the Jet Airways for the supposed lapse in payment of installments with regard to the April 2007 takeover of the earlier Sahara Airlines - now JetLite - Sahara India has approached the Bombay High Court.

Out of the Rs. 1,450 crore acquisition deal for Sahara Airlines, Jet Airways had made an upfront payment of Rs. 900 crore, and had agreed to pay annual installments of Rs 137 crore in the course of the next four years beginning 2007.

In a significant move, country’s largest private sector electricity generating company, Tata Power Company (TPC) on Monday started commercial operations of its 250 megawatt power plant at the Trombay Thermal Power Station in Mumbai.

As a result of the commissioning, the generation capacity of the Trombay plant will be increased to 1,600 MW from 1,350 MW. The plant will operate on imported Indonesian coal. The company believes that the commissioning will help bridge the gap between the ever increasing demand and supply of power.

Opening with a negative gap of 146 points at 9,902 on Monday, the Sensex nosedived more than 450 points, as traders cast off frontier banking, metals and realty space. A week back, the Sensex had leaped over 12 percent; and due to a rise in stock market rally - kicking off from the US affecting markets the world over - the Sensex rose more than 23 per cent in the past twelve trading sessions.

British Airways authorities Sunday onwards suspended its direct services from Kolkata to London - practically applying its last year announcement - saying that the route was not making adequate profit! Coincidentally, the same day, Air India resumed its October 2008-suspended service on the Kolkata-London route, via Delhi.

With the last British Airways flight taking off at around 5 a. m. from the Netaji Subhash Chandra Bose International Airport, the carrier's thrice a week service, direct form Kolkata to Heathrow Airport in London, has been scrapped.