Despite a marginal improvement in the seat factor, national carrier Air India (AI) has lost its market share in April, helping low-cost airline SpiceJet to become the third-largest airline in the month with a market share of 17.7 per cent, according to the latest data from the sectoral regulator DGCA.

Aditya Birla Group on Friday said it will buy 27.5 per cent stake in the holding firm of the India Today Group, Living Media India Ltd for an undisclosed amount. The investment will be made by Aditya Birla Group's private investment company, Aditya Birla Group said in a statement.

India can grow at between 8 or 9 per cent for the next 20 years with a supportive global environment, its Planning Commission's Deputy Chairman Montek Singh Ahluwalia has said.

Vijay Mallya-promoted Kingfisher Airlines owes Rs 269.06 crore income tax and I-T Department has initiated penalty and prosecution proceedings against the private carrier, Government informed the Lok Sabha on Friday.

India's largest lender State Bank of India (SBI) on Friday reported a forecast beating net profit of Rs 4,050 crore for the fourth quarter (Jan-March) of FY12 as against Rs 21 crore a year ago, aided by higher interest income and lower provisioning for non-performing loans. Analysts on an average had expected profit at Rs 3,580 crore.

India's consumer price inflation accelerated in April to 10.36 per cent, making life harder for the RBI as it looks to kickstart a flagging economy, government data showed on Friday. In March, consumer prices rose 9.47 per cent.