There is some bad news for domestic air travelers. In a latest move major Airlines (Air India, Jet Airways and Kingfisher Airlines) including low-cost carriers have withdrawn all promotional fares and increased basic fares by around Rs 2,000 on several sectors from Tuesday.

The companies have decided to stop the low-fare advance purchase (APEX) schemes, quoting that the airfares would now be decided by the market.

India's No. 2 motorcycle maker, Bajaj Auto plans to increase its stake from 25% to 30% in KTM Power Sports, Europe`s second-largest sports bike manufacturer.

During a press conference, Rajiv Bajaj, Managing director of Bajaj Auto, disclosed that the company is tightening its grip on KTM Power Sports and the stake hike would be concluded in six to eight weeks.

The initial public offer (IPO) of Chennai-based Edserv Softsystems of Rs 20 crore managed to sail through even while the Rs 44-crore IPO of Gemini Engi-Fab has been pulled off last week due to lack of investor confidence.

According to data revealed by National Stock Exchange, the IPO of EdServ Softsystems has received 51,49,000 bids as against issue size of 39,73,908 shares and got subscribed 1.30 times.

The price band for the issue was fixed between Rs 55 and Rs 60.

In today's trading session, Tata group stocks witnessed mixed reaction from investors on news that Tata Sons, the holding company of the Tata group, has pledged shares of some of the group companies, to finance operations in a tight liquidity situation in the credit market.
 
In its filing with the NSE, Steel giant Tata Steel, announced that the company's founders have pledged 9.89 crore shares, or 13.53 per cent of the total equity capital.

Medical services provider Fortis Healthcare notified on Tuesday that one of its main promoters Fortis Healthcare Holdings has pledged 20.75 per cent stake of the company for an undisclosed amount.

The health chain said, that its promoter (Fortis Healthcare Holdings) has pledged 4.70 crore shares representing 20.75 per cent stake in the company.