Newsmakers: Reliance MF raises stake in Indian Hotels, brent crude trades below $37 and more

Key business news events for the day

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Reliance MF ups stake to 8% in Indian HotelsReliance Mutual Fund has hiked stake in Tatas-run Indian Hotels to nearly 8 per cent, making the hospitality sector another key area with significant investments by the two Ambani groups. Elder Ambani sibling Mukesh-led Reliance Industries group is already a major investor in EIH Ltd, the main listed entity from Oberoi group that runs a chain of luxury hotels.

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Bharti Airtel launches website to track network coverageAmid criticism of mobile operators for call drops, Bharti Airtel on Tuesday launched a special micro-website that will show progress of its site expansion project and live status of its network coverage. Airtel in November announced a 'Project Leap' aimed at perceptibly improving network quality with an outlay of Rs 60,000 crore in the next three years.

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Brent trades below $37 as low demand adds to high outputCrude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. Front-month US West Texas Intermediate (WTI) futures were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday's close.

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PM Modi's new year gift: Delhi-Meerut expressway foundation stone on Dec 31 Prime Minister Narendra Modi will on December 31 lay the foundation stone of ambitious Delhi-Meerut Expressway project, aimed at easing traffic congestion in the national capital. The Prime Minister last month launched three important highway projects worth Rs 10,166 crore to decongest Delhi.

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Telcos cross 100-cr subscriber mark in 2015 It was a towering feat for the telecom industry in 2015 to cross 100-crore subscriber mark, but the call drop menace spoiled the party and the operators are now pulling up their socks to face greater competition with the imminent entry of Reliance Jio in 2016.