Vodafone, Idea merger to improve industry dynamics, says Ind-Ra

The proposed merger of Vodafone India and Idea Cellular will be credit positive for the telecom industry by eliminating duplication of spectrum and infrastructure capex, says India Ratings and Research (India Ratings). However in the near term, India Ratings believes that the intense competition from Reliance Jio’s freebees will continue to pressurise telecom companies (telcos) financials

ICRA re-affirms Ruttonsha International Rectifier`s credit rating

Ruttonsha International Rectifier Ltd (RIRL) on Tuesday said that the credit rating agency, ICRA Ltd, has re-affirmed it’s long term and short term credit ratings.

ICRA has re-affirmed the company’s long term credit rating of ‘[ICRA]BB+’ rating with a stable outlook to the company’s fund based limits, Ruttonsha International Rectifier Ltd said in a filing

Number of milk producers with bank a/c surges 14%: Ministry

The number of milk producers and farmers with a bank account has increased by about 14 per cent, from 49.27 per cent to 63.42 per cent, following the demonetisation, the Union Agriculture Ministry. In a statement, the ministry said that the number of the milk producers and the farmers being paid through cash increased from 23.82 per cent to 72.25 per cent following the government’s Novemb

Government to develop economic corridors, logistic parks: Reports

The Indian Government has said that it is looking at developing economic corridors and also planning to come up with logistic parks on national highways. Commenting on the issue, Minister of State for Highways Mansukh Lal Mandavia told the media, "Ministry of Road Transport and Highways got a study conducted on logistics efficiency enhancement.

The report has made several recomme

AAI to place regulations for flexible use of land: Reports

Airports Authority of India (AAI) has said that it is planning to put in place regulations for flexible use of land parcels as part of asset monetisation efforts, as it prepares for large scale upgradation of airport infrastructure.

As per reports, the national airports operator, which manages 125 aerodromes including civil enclaves, is awaiting amendments to the AAI Act that would al

India`s solar power generation capacity crosses 9 GW: Minister

The Indian Government has said that India's solar power generation capacity stood at over 9 GW as on December 31, 2016 with Tamil Nadu having the largest output capability followed by Rajasthan and Gujarat. Commenting on the issue, Power Minister Piyush Goyal told the media, “Total power generation capacity was 9,012 MW as on December 31, 2016.

Tamil Nadu led the chart follo

CBI books Delhi IT commissioner for corruption

The CBI on Monday said it has registered a case against a commissioner of Income Tax (Appeals) in Delhi, his wife and other unidentified persons on charges of amassing illicit assets worth Rs 4.28 crore.

The premier investigation agency booked the IT Commissioner Haribansh Kumar Choudhary, a 1988 batch officer, his wife Anupama Choudhary and others under various sections of the Indian

Power Ministry crosses milestone of electrifying 12k villages

Power Ministry has so far achieved the milestone of electrifying over 12,000 villages out of 18,452 unelectrified villages. Prime Minister Narendra Modi had announced from the ramparts of Red Fort on August 15, 2015 in his independence day speech that all 18,452 unelectrified villages would be electrified in 1,000 days, i.E by May 1, 2018. According the GARV (Grameen Vidyutikaran) portal, which

Infrastructure status to affordable housing positive for low cost homes

Infrastructure status to affordable housing in the Budget 2017-18 will have a positive impact on low cost home segment but the impact will be muted in the luxury and mid-income residential segments, according to Moody's Investor Service. "The biggest and the most impactful policy directive for the real estate sector is the granting of infrastructure status to affordable housing.

Telecom Commission seeks clarification on penalty in PoI issue

Telecom Commission has asked DoT to seek clarification from Trai on the Rs 3,050-crore penalty recommended by the watchdog on three service providers Bharti Airtel, Vodafone and Idea Cellular for allegedly denying interconnectivity to newcomer Reliance Jio, reported PTI. "The Telecom Commission has asked DoT to seek clarification from Trai on 10-12 points, including whether t


Mutual funds invest Rs 5,234 cr in stocks in January

Mutual fund managers purchased stocks worth Rs 5,234 crore on net basis in January -- making it the sixth straight monthly inflow -- after retail investors continued to put money in equity schemes. Besides, fund managers pumped in over Rs 31,000 crore in the debt market last month.

According to the data released by the Securities and Exchange Board of India (Sebi), mutual fund manager

MHCV to post steep decline in volumes in FY18: Ind-Ra

The medium and heavy commercial vehicle (MHCV) segment will post a steep decline in volumes in FY18, due to slowing replacement demand, weak industrial activity, rising diesel prices and overcapacity, says India Ratings and Research (India Ratings).

Despite the FY18 budget focus on the rural sector India Ratings does not expect a substantial increase in rural demand for CVs. Weak sale

FMCG players expect growth to return in FY18: GCPL

After enduring a tough year due to headwinds such as impact of demonetisation particularly in rural markets, the FMCG industry expects growth to return in 2017-18, said homegrown major Godrej Consumer Products Ltd.

"Our expectation is that the fiscal year 2017-18 should see the return of growth in the FMCG sector," Godrej Consumer Products Ltd (GCPL) Managing Director Vivek

BlackBerry inks hardware licensing deal covering India

TORONTO - BlackBerry Ltd has signed a hardware licensing agreement covering India and nearby countries, the Canadian company said on Monday, filling in the last markets where a third-party will manufacture its once-ubiquitous devices as it turns fully to software.

The Waterloo, Ontario-based company said the long-term licensing deal with Optiemus Infracom Ltd cov

Operator-assisted drive tests to measure call drops soon: Reports

Telecom regulator Trai has said that 'operator-assisted' drive tests, which measure call drops and service quality, would start across various locations soon. As per reports, these tests would be conducted around each of Trai's five regional offices including Jaipur, Hyderabad and Bangalore, by March.

The operator-assisted tests - a new concept by Trai - involves operators

Government to impose anti-dumping duty on aluminium products: Minister

The Indian Government has said that it may soon take some steps including imposing of anti-dumping duties or minimum import price in wake of rising imports of downstream aluminium products in the country to safeguard the interests of domestic aluminium industry. Commenting on the issue, Power, Coal and Mines Minister Piyush Goyal told the media, "Aluminium industry has faced a lot of stres

Capital infusion in PSU banks after Q3 numbers

The government will finalise the second and final tranche of capital infusion for public sector banks (PSBs) for 2016-17 once all of them have declared results for the third quarter of the current financial year, a senior Finance Ministry official said. As of now, only five of the 26 listed state-owned banks have declared their results for the October-December quarter of the current fiscal. &qu

FPIs get back to buying mode, pump in Rs 2,300 cr in 3 days

After four months of selling frenzy, overseas investors turned net buyers in February and pumped in over Rs 2,300 crore in the capital market over the last three sessions, enthused by clarity on foreign portfolio investor (FPI) taxation.

The latest inflow followed a net pullout of Rs 80,310 crore from equity and debt together in the past four months (October-January). Prior to that, F

Mutual Funds file papers with Sebi for 12 new offerings so far in 2017

With mutual funds gaining traction among retail investors, asset management companies have filed draft offer documents with market regulator Sebi for as many as 12 new schemes since the beginning of this year, reported PTI. Equity, debt and fixed maturity plans (FMPs) are some of the themes for which the MF houses have filed the applications.

Fund houses from Sundaram, Edelweiss, ICIC

Oil firms' merger will create multiple entities -- also problems

Petroleum Minister Dharmendra Pradhan has clarified that Budget 2017-18's bare announcement of the government intent to merge state-run oil companies into a single entity will actually mean creation of multiple entities. The proposal, though welcomed by industry officials, has drawn mixed reactions from analysts, who see multiple challenges in it.

"It will not be one company.

Rosatom supplies electric heaters for Kudankulam n-plants

Russian nuclear energy group Rosatom has completed supply of three electric heaters for the first and second 1,000 MW nuclear power units at Kudankulam in Tamil Nadu ahead of schedule, the company said.

JSC SverdNIIchimmash - part of the machine building division of Rosatom - Atomenergomash - has completed supply of three electric heaters of hydrogen combustion system for the first an

Railways allocated Rs 500 crore for CCTV cameras: Minister

The Indian railways has been provided with Rs 500 crore for installation of CCTV cameras at 983 stations, Minister of State (MoS) for Railways Rajen Gohain said on Friday.

"Funds to the tune of Rs 500 crore have been sanctioned for provision of CCTV (close circuit television) surveillance cameras at 983 stations," the minister informed the Rajya Sabha in a written reply to a

Internal committee at defence ministry to study recommendations of Shekatkar committee

An internal committee has been set up by the Defence Ministry to study the recommendations of the Shekatkar committee on defence spending, Parliament was told on Friday.

"An internal committee has been constituted within the Ministry to analyse the report, identify the recommendations to be accepted and to frame the key action points as well as a roadmap for their implementation,

Railways allocated over Rs 1,000 crore for bio-toilets: Minister

Indian railways has been allocated Rs 1,155 crore in 2016-17 for fitment of bio-toilets in passenger trains.

According to the Minister of State (MoS) for Railways Rajen Gohain, the money has been allocated to the railways under the Swacch Bharat mission.

"The government has provided Rs 1,155 crore in current fiscal towards fitment of bio-toilets in coaches as part of Sw

Tyre, rubber industries saddened with Union Budget

Tyre manufacturers and MSMEs in rubber industry have expressed disappointment over the Union Budget not addressing their demand to remove inverted duty structure on tyre and rubber. While hailing the increased allocation for infrastructure and road sector in the Union Budget, the tyre industry expressed concerns over exclusion of rubber and tyres in the list of items on which duty inversion has