Sonalika sales up 26 % to 8,335 units in May

Tractor maker Sonalika today posted 26.2 per cent rise in sales at 8,335 units in May as compared with 6,604 units during the same period of the previous fiscal. During the period under review, the company sold 7,267 units in the domestic market, clocking an increase of 26.6 per cent from the previous fiscal, Sonalika Tractors said in a statement.

Exports during the month grew by 23.3

Railways to launch overnight service for business travellers

The Railways will soon launch an overnight double-decker train service equipped with modern facilities to attract business travellers. The public transporter is looking to connect metropolitan centres through the new service, Uday Express, Railway Minister Suresh Prabhu said today at the 'Smart Railway Conclave'. "We will be launching Uday Express for business travellers who would

Mines auction norms: Mandatory to wash coal in pit-head

Successful bidders in the upcoming mines auction will have to wash the metallurgical coal in the pit-head washery so as to improve the quality of dry fuel, as per the new auction rules, reported PTI. "Successful bidders will be required to wash the coking coal obtained from the coal mine in a pit-head washery before utilising the same," an official said. The government is likely to pu

India BI software revenue to hit $245mn in 2017: Gartner

Indian business intelligence (BI) software revenue is forecast to reach $245 million in 2017 -- a 24.4 per cent increase over $206 million revenue last year -- market research firm Gartner said on Tuesday.

This forecast includes revenue for BI platforms (comprising of traditional and modern BI platforms), data science platforms, analytic applications and CPM Suites, Gartner analysts s

Moody`s upgrades all Shriram-sponsored auto loan ABS in India

Moody's Investors Service, a global rating agency, has upgraded the ratings assigned to 13 outstanding auto ABS transactions backed by static pools of commercial vehicle loans originated by Shriram Transport Finance Company Limited (STFCL) in India. “The ratings assigned to pass-through certificates (PTCs) of ten auto ABS transactions have been upgraded to Baa2 (sf) from Baa3 (sf) and

Telecom sector woes do not pose systemic threat to banks: Fitch

In the wake of recent liquidity crisis at Reliance Communications, global rating agency Fitch Ratings said though the country's banks do not have large exposure to the telecom sector, but defaults could affect lenders with weak financials. "Indian banks' exposure to troubled telecom companies is not large enough to pose a systemic threat, but defaults could add to problems at banks

Aviation Ministry to decide on Air India's future: Arun Jaitley

Finance Minister Arun Jaitley on Monday said that the government has a proposal to exit Air India, however, the final call on the future of the debt-ridden national passenger carrier has to be taken by the Civil Aviation Ministry.

"Civil aviation is turning into a good success story in India... Therefore, how fair is it for government to occupy 14 per cent of the market share and

Increasing notice period of pilots may impact aviation safety: IFALPA

Global pilots' grouping IFALPA has said that it has raised concerns over the proposal to increase the notice period for pilots working with Indian carriers to up to one year. Canada-based International Federation of Air Line Pilots' Associations (IFALPA) represents more than 1,00,000 pilots across the world, as per its website. As per reports, aviation regulator DGCA has proposed norms

Demonetisation effect wearing-off on two-wheelers' segment growth: ICRA

Ratings agency ICRA on Monday said that the two wheeler segment is on a demand recovery path after "encountering bumps" in the past five months due to post-demonetisation liquidity crisis.

According to an ICRA report, the industry witnessed a de-growth in both the key product segments - motorcycles and scooters - during the last five months (November 2016-March 2017), r

TRAI launches 3 new mobile apps for voice, data quality tracking

Aiming to protect consumer interests, the Telecom Regulatory Authority of India (TRAI) on Monday launched three new mobile applications and a web portal.

TRAI MyCall App is an Android application for crowd sourced voice call quality monitoring. The app will help mobile phone users rate their experience about voice call quality in real time and help TRAI gather customer experience data

Railways to save Rs 300 cr by conserving water: Reports

The Indian Railways has said that it is planning to save Rs 300 crore a year through a concerted effort to conserve water and restore water bodies on rail land across the country. As per reports, the Railways has also undertaken energy conservation and energy efficiency measures with a target to achieve 1,000 MW of solar power and 170 MW of wind power installed capacities. Commenting on the iss

Railways to reduce dependence on conventional fuels: Reports

Union Minister Suresh Prabhu has said that the Indian Railways will reduce its dependence on conventional fuels such as diesel by further track electrification. Commenting on the issue, Union Minister Suresh Prabhu told the media, "Reducing dependence on conventional fuels is priority for environment conservation and we are targeting electrification of the railway tracks so that the use of

COAI writes to FinMin, seeks cut in GST rates for telecom

The cellular operators have approached the government for a reduction in the 18 per cent GST rate, saying the benefit of input credit is not enough to fully compensate the higher tax incidence in the new regime, reported PTI. The telcos under industry body Cellular Operators Association of India (COAI) have emphasised that reduction in Goods and Services Tax or GST rate is important given that

Non-life insurers raise Rs 2,181 crore through hybrid bonds

Non-life insurers raised Rs 2,181 crore in fiscal 2017 through hybrid bonds, a report said as per the PTI. Out of this Rs 1,166 crore was raised in March alone by four non-life insurers, it said. As many as seven of them raised Rs 2,181 crore in fiscal 2017, and more issuances are on the cards with non-life premium growth expected to be buoyant this fiscal, a study by the credit rating agency C

Two-wheeler to grow 8-10% in FY18; note ban pangs waning: ICRA

After five months of rough ride due to demonetisation and ban of BS-III models, two-wheeler segment is on a recovery path and expects the sector to grow by 8-10 per cent in FY18, according to ratings agency ICRA.

The two-wheeler industry had witnessed a decline of 6.5 per cent in the five months period between November 2016 and March 2017 when compared with the year-ago period, ICRA s

Trai launches MyCall app to help subscribers rate call quality

Trai launched a new app -- MyCall -- that enables subscribers to rate the quality of a phone call, reported PTI. "The application will help mobile phone users rate their experience about voice call quality in real-time and help Telecom Regulatory Authority of India (Trai) gather customer experience data along with network data," Trai said in a statement.

After a call ends, a

RBI slaps Rs 5 lakh fine on Jalore Nagrik Sahakari Bank

The Reserve Bank of India has imposed a monetary penalty of Rs 5 lakh on the Jalore Nagrik Sahakari Bank Limited, Jalore, for violation of RBI instructions.

“The Reserve Bank of India has imposed a monetary penalty of Rs 5.00 lakh for violation of RBI instructions / guidelines relating to (i) breach of prudential interbank single and gross exposure limit and (ii) giving donation

Cement industry likely to grow at about 7% in FY17

The cement industry is expected to grow at 6-7 per cent in the current fiscal with government's focus on infrastructure development being a key driver of demand, says HeidelbergCement India.

A subsidiary of HeidelbergCement Group, Germany, the company also said that while prospects of a normal monsoon augur well for the industry, oversupply may restrict the ability to pass on any

Offshore India funds, ETFs pump in 500mn in May

India-focused offshore funds and exchange-traded funds (ETFs) have pumped in over USD 500 million in May, taking the total to USD 3.6 billion so far this year, reported PTI. An offshore India fund is one that is not domiciled in the country but invests primarily in its markets.

According to a report by mutual fund tracker Morningstar, India-focused offshore funds have infused a net am

Solar energy boom turns to bust for Indian manufacturers

By Krishna N. Das and Sudarshan Varadhan

NEW DELHI - Some of India's biggest solar equipment makers are facing financial collapse, priced out by Chinese competitors as Prime Minister Narendra Modi's government prioritises cheap power over local manufacturing despite his 'Make in India' push.

Though President Donald Trump is pulling the United

Government planning to undertake international road projects: Report

The Indian Government has said that it is planning to launch a dedicated international subsidiary of the National Highways Authority of India (NHAI) to take up roads and highway projects abroad, particularly in South Asia.

As per reports, India is also looking forward to setting up joint ventures (JVs) for road construction in neighbouring countries.

Commenting on the issue,

India`s domestic passenger air traffic growth accelerates to 15.3%

After a slump in March, India's domestic passenger traffic growth reclaimed lost ground in April, yet the top rank it had held for 23 straight months till three months back eluded it.

According to data furnished by the International Air Transport Association (IATA), India's passenger traffic growth accelerated to 15.3 per cent in April from a 14.6 per cent growth reported for

GST levy to provide level-playing field to organised retail: CARE ratings

Post implementation of the Goods and Service Tax (GST), organised retailers are expected to get a level-playing field, edging out unorganised players in the medium-term, a report on retail industry has said.

While the tax on branded apparels (textiles) is not known, a revenue neutral rate for apparel industry would be 12-15 per cent, the report by CARE Ratings said. "Any rate abo

Railways aiming at one-third reduction in emission by 2030

Going green, the Indian Railways is stepping up efforts to reduce emission by 33 per cent in the next 10-12 years through sustained energy efficiency measures and and maximum use of clean fuel.

Promoting low carbon mass transportation system, the Railways will be using 5 per cent bio diesel and CNG/LNG for traction while stepping up use of renewables up to 10 per cent of its energy ne

Textiles products to become dearer post GST: Industry

Textiles products, especially those made from cotton yarn and fabric, are likely to cost more with the government setting a higher rate for them under the GST to be rolled out from July 1, reported PTI.

A section of the industry believes differential rates for cotton and synthetic fibre under the new indirect tax regime will lead to interpretational issues.

The Goods and Ser