India Ratings maintains stable outlook for auto for FY18

India Ratings & Research (Ind-Ra) has maintained a stable outlook on the auto sector for FY18. This is based on the expectation of a moderate yoy volume growth of 6 per cent-9 per cent for the passenger vehicle (PV) segment, and despite an expected negative 2 per cent to 2 per cent slowdown in the commercial vehicle (CV) segment.

The agency believes that growth in the PV segment w

Telecom industry to consolidate amid hypercompetition in FY18

India Ratings and Research (Ind-Ra) has revised its outlook on the telecommunications services sector for FY18 to negative from stable-to-negative. The negative outlook reflects Ind-Ra’s expectation of longer and deeper than expected deterioration in the credit profile of telcos following the extended free services by Reliance Jio Infocomm.

According to the rating agency, a redi

Ind-Ra assigns `IND AA(SO)` rating to UPPCL`s Rs 100 bn bonds

India Ratings and Research (India Ratings) has assigned UP Power Corporation Limited’s (UPPCL) proposed INR 100 billion bonds a Provisional ‘IND AA(SO)’ rating with a stable outlook. This is India’s first state government revenue supported bond.

India Ratings notes that while state/central government supported bonds, in the form of an unconditional and irrevoca

Auto ancillaries to see 7-9% growth in FY17: Ind-Ra

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the auto ancillaries sector for FY18, citing the expectations of a healthy demand from original equipment manufacturers (OEMs) for two-wheeler and passenger vehicle (PV) components along with a marginal improvement in profitability and a stable credit profile.

The agency expects the sector companies to see volume g

Flipkart to use Microsoft cloud to boost e-tail sales

Leading e-commerce major Flipkart on Monday tied up with global software major Microsoft to use its Azure cloud platform for boosting its e-tail sales.

The strategic partnership was announced by Microsoft CEO Satya Nadella on his maiden visit to Bengaluru after he took over the reins of the world's largest software product firm in February 2014.

"At Microsoft, we ai

Unique cyber security course launched for young minds

In a bid to bring awareness among the youth regarding the growing cyber attacks and cyberbullying, Delhi-based IT risk assessment and digital security services provider Lucideus on Monday launched a first-of-its-kind cyber security course.

Titled Cyber Whiz Kids, the course will delve into topics like basics of computers, hardware and software, basics of networking and how computers c

Videocon`s Connect Broadband partners with MobiKwik

Telecom arm of Videocon Groups Connect Broadband on Monday announced its collaboration with domestic mobile wallet major MobiKwik to promote cashless digital transactions.

"Currently, only about 29 per cnt of our customers are using digital modes to make their bill payments and I am sure that with this unique tie-up, the percentage will climb up to 50 per cent within next couple

Food processing sector to create 9 mn jobs by 2024: Report

Indian food processing sector has the potential to attract USD 33 billion of investment and create nine million jobs by FY 2024, revealed an ASSOCHAM-Grant Thorton Research paper. By 2024, food processing sector is expected to employ nine million people in India and expected to generate about 8,000 direct and 80,000 indirect jobs in the state, the ASSOCHAM-Grant Thornton joint study on 'Foo

Finance Ministry starts listing process of 3 Rail PSUs

Within three weeks of Budget announcement, the Finance Ministry today started the process of listing three rail PSUs -- IRCTC, IRFC and IRCON. The government is considering divesting a portion of the paid-up equity share capital through an IPO and has sought Expression of Interest (EoI) from merchant bankers by March 16.

The Department of Investment and Public Asset Management (DIPAM)

Coal imports dip by 22% to 14 mn tonnes in January

Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock available with them. Coal import (all type of coals) in January 2017 stood at 14.31 million tonnes (MT) (provisional) against 18.28 MT in January 2016, mjunction services, an online procurement and sales platform floated jointly by SAIL and Tata Steel med

Aadhaar-based eKYC to cost around Rs 2,500 cr: COAI

Mobile operators' body COAI has said that re-verification of existing mobile subscribers through Aadhaar-based eKYC will cost an estimated Rs 2,500 crore, seeking certain exemptions in the process.

Commenting on the issue, Rajan Mathews, Director General of Cellular Operators Association of India told the media, "The re-verification activity entails a huge cost which is borne

Trai to review predatory pricing issues soon: Reports

Telecom regulator TRAI has said that it will review the rules of tariff assessment with regard to promotional offers and predatory pricing, issues that have triggered a public spat between Reliance Jio and incumbent operators. As per reports, these contentious issues would be debated as part of a consultation paper on 'Regulatory Principles of Tariff Assessment' issued by TRAI.

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Government to operationalize 43 unused airports soon: Reports

The Union Civil Aviation ministry has said that 43 unused airports would be operationalised within a year. Commenting on the issue, Union Civil Aviation Secretary R N Choubey told the media, "The main idea behind operationalising these 43 unused airports is to improve the connectivity to the hinterland.

Proposals have already been received from 11 bidders who will put these airpo

South Korea keen to develop NDLS as world class facility

The Railways has said that South Korea has come forward to redevelop the New Delhi railway station, one of the busiest terminals in the country, as a world-class facility.

According to an ambitious plan unveiled by the railways, catering to more than five lakh passengers in a day, the station will be converted into a swanky complex at an estimated cost of Rs 10,000 crore, offering bes

Natural gas prices may be hiked by 8% from April: Reports

As per a report, natural gas price in India is likely to be hiked by 8 per cent from April 1 driven by an increase in rates in reference markets including US Henry Hub.

As per sources, price of natural gas, used for generating power and making fertiliser and petrochemicals as well as CNG for automobiles, is likely to rise to USD 2.7 per million British thermal unit for the period from

PE investments decline to $652 mn in January: Grant Thornton

Private equity investment activity has begun the new year on a sluggish note with January witnessing a decline in PE investments both in volumes as well as value terms, says a report. According to assurance, tax and advisory firm Grant Thornton, there were 79 private equity investments worth USD 652 million in January this year, where as in the corresponding period last year there were transact

India`s domestic air passenger traffic up 25% in January: DGCA data

India's domestic air passenger traffic zoomed up by 25.13 per cent during last month to 95.79 lakh, official data showed. "Passengers carried by domestic airlines during January 2017 were 95.79 lakh as against 76.55 lakh during the corresponding period of previous year thereby registering a growth of 25.13%," the Directorate General of Civil Aviation (DGCA) said in its statistical

`Retailers can see 15-20% higher sales by digitising core biz`

By digitising core business, retail companies could see a 15-20 per cent increase in revenues, according to a report as per the PTI. "Do not treat digital as an 'add-on'. It should be central to the CEO's agenda," the joint report on 'Decoding digital opportunity in Retail' by Retailers Association of India and Boston Consulting Group said.

Digitising the

Mutual Fund industry bets big on SIP to hit Rs 20-trillion AUM mark

Fund houses are betting big on investments through systemic investment plan (SIP) to achieve the magical figure of Rs 20 trillion assets under management (AUM) for the industry by end of the current calendar year, reported PTI.

While some of the fund houses see the growth in SIP coming from B-15 cities, few others said their SIPs are doing very well and hence they are confident of the

Food processing can generate $33 bn in funds, 9 mn jobs by 2024: Study

The Indian food processing sector has the potential to attract $33 billion of investment and generate nine million person-days of employment by 2024, industry chamber Assocham said on Sunday, citing its study.

"By 2024, food processing sector is expected to employ nine million people in India and expected to generate about 8,000 direct and 80,000 indirect jobs in the state,"

Jio competitors see washout in Q3, losses likely in Q4 too

The balance-sheet of major telecom operators in India -- Bharti Airtel, Idea Cellular and Reliance Communications -- came under major pressure in the third quarter (October-December) of the current fiscal and the trend is likely to continue in the fourth quarter, say the experts.

"Margin pressure on telcos will continue as long the free data offer from Reliance Jio continues. As

Mutual Fund industry expects AUM to reach Rs 35 lakh cr in five years

With growing retail participation, low interest rates, digitisation and introduction of new products, the mutual fund industry is expecting to double its assets under management (AUM) to Rs 35 lakh crore over the next five years, industry players said on Saturday.

As of January 31, 2017 the assets under management of the industry stood at Rs 17.37 lakh crore and industry members estim

First cargo vessel from Kolkata arrives at Dhaka river port

Paving way for direct cargo vessel movement between India and Bangladesh, the first container ship from Kolkata arrived at Dhaka's Panagon river port, media reports said.

The 'Shonartori Nou Kalyan-1' reached the Pangaon Inland Container Terminal at Keraniganj upazila on Friday with 65 containers on board, bdnews24.com reported.

With this -- the bilateral 'Co

Competition led to 30% airfare drop in India: Minister

The Union Civil Aviation Ministry's role in ensuring competition between commercial airline companies, along with fall in oil prices globally, led to a drop in air fares by as much as 30 per cent, a minister said on Saturday.

"If we are looking at the country as a whole, then average airfares have actually fallen by 30 per cent," Union Minister for Civil Aviation Ashok G

Indian IT industry faces twin challenges of Trump, automation

MUMBAI  - Automation and the new U.S. administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market.

But senior executives from the $150 billion industry, which rose to prominence at the turn of the cent