Coal India expects 2.5% production growth

After achieving a 9 per cent growth in coal production in the last financial year, Coal India expects to conclude this fiscal year with a 2.5 per cent growth in production and 2 per cent increase in coal off-take, an official said on Tuesday.

"We expect a production growth of 2.5 per cent by end of this fiscal and our off-take will have a 2 per cent growth," Coal India's

Sensex recovers on global cues; Trump anxiety subsides

 Indian shares ended higher on Tuesday as losses in the previous session were seen as overdone, with sentiment also improving as Asian markets recovered after some of the anxiety about U.S. President Donald Trump's ability to push his agenda subsided.

The broader NSE Nifty ended 0.61 percent higher at 9,100.80 while the benchmark BSE Sensex closed 0.59 percent higher at 29,40

Moody's assigns (P)Baa3 ratings to the MTN program of IREDA

Moody's Investors Service, a global rating agency, on Tuesday assigned a (P)Baa3 long-term senior unsecured rating and (P)P-3 short-term rating to the USD 300 million medium-term note (MTN) program that was established by the Indian Renewable Energy Development Agency Limited (IREDA, local and foreign currency issuer rating: Baa3, standalone credit profile: ba3). The rating outlook is stabl

NTPC board approves Rs 3,004 cr investment in Talaipalli project

State-owned electricity generater NTPC Ltd on Tuesday said its board has approved an investment of about Rs 3,004 crore for Talaipalli coal mining project with an estimated 18 million tonnes p.a. capacity. In a filing to the Bombay Stock Exchange, the company said, “In line with the corporate disclosure requirements, we wish to inform that the board of directors of the company has accorde

Skipper starts commercial production at Palasbari unit

Skipper, India’s leading manufacturer of transmission and distribution structures, on Tuesday said that it has successfully commenced commercial production at its new unit in Palasbari (near Guwahati), Assam on March 27, 2017.

“This is the company's eighth manufacturing unit (second near Guwahati) and has an installed capacity of 30,000 tonnes for engineering products

ICICI Bank partners Truecaller for UPI-based mobile payment

ICICI Bank today announced a partnership with mobile app firm Truecaller for a new UPI-based mobile payment service called Truecaller Pay. Truecaller Pay will allow users of the app to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app, ICICI Bank said in a statement. It will also enable users to recharge their mobile number from within the Truec

Suven Life Sciences gets patent for neuro-degenerative molecule

Suven Life Sciences has received one product patent from New Zealand for its molecule to be used in the treatment of neuro-degenerative diseases, reported PTI. With this new patent, Suven has a total of 26 patents from New Zealand. The new patent is valid through 2033, Suven Life Sciences said in a BSE filing. "We are very pleased by the grant of these patents to Suven for our pipeline of

Cairn India-Vedanta merger: All approval in place barring RBI

Vedanta Ltd said it has received all approvals for its merger with Cairn India barring the RBI nod for issuing redeemable preference shares to the non-resident shareholders of the oil producer, reported PTI. "The company has now received all the required approvals in relation to the Scheme of Arrangement between Vedanta Ltd and Cairn India Ltd, and their respective shareholders and credito

Britannia forms India JV with Greek baker Chipita

Britannia Industries, an Indian food-products corporation, on Tuesday said that it has entered into a joint venture agreement with Chipita S A, a Greek company, for developing, producing and selling ready-to-eat long life filled croissants and other products. Chipita was established in Greece in 1973 as a company producing and marketing savoury snacks. Chipita is currently present international

Gammon India gets nod to invest/buy up to 20% stake in GIPL

Gammon India said it has got members' nod to invest or buy up to 20 per cent stake in Gammon Infrastructure Projects from wholly-owned arm Gammon Power Ltd., reported PTI. "Special Resolution pursuant to Section 186 of the Companies Act, 2013 to invest/acquire by way of purchase or otherwise up to 20 per cent of the equity shares of Gammon Infrastructure Projects Limited from its wholl

L&T Construction bags Rs 2,903 cr residential order

Country’s leading multinational conglomerate Larsen & Toubro Ltd on Tuesday said that its construction arm’s building & factories business segment has secured an order worth Rs 2,903 crore for re-development of Mumbai’s century-old BDD Chawls.

“The building & factories business segment of L&T construction has bagged a major design & build or

Dilip Buildcon declared lowest bidder for 2 road projects in Maharashtra

Dilip Buildcon has said that it has been declared as the Lowest-1 (L-1) bidder for two projects of Ministry of Road Transport & Highways (MORTH) in the state of Maharashtra.

The details of projects include 'Rehabilitation and Up-gradation of two lane with paved shoulders on EPC Mode from Kalamb to Wadki (Kalamb - Ralegaon - Wadki), total Length of the project is 50.275 Km, wor

Great Eastern Shipping takes delivery of 'Jag Lakshya'

Great Eastern Shipping Company has said that it has taken delivery of a Secondhand Suezmax Crude Carrier 'Jag Lakshya' (2011 Built) of about 157,000 dwt. The Company had contracted to buy the vessel in December 2016. With this inclusion, the Company's current fleet stands at 44 vessels. Additionally, the Company has committed to purchase 1 secondhand Supramax Dry Bulk Carrier.

KPIT’s promoters increase stake in company

KPIT Technologies, product engineering and IT consulting partner to Automotive, Manufacturing and Energy companies has said in a filing to the Bombay Stock Exchange that the promoters of KPIT have purchased 4,375,452 shares of KPIT through Proficient Finstock LLP (Proficient) taking the total Promoter holding in the company to 18.94 per cent.

To fund the above transaction, Proficient

Samsung to sell refurbished Galaxy Note 7 smartphones

Samsung Electronics announced on Tuesday it will sell refurbished Galaxy Note 7 smartphones, after production was suspended last year due to battery issues that caused fires and explosions.

The South Korean company said in a statement that it was still deciding when and in which countries to sell the refurbished smartphones, which will depend on "consultations with regulatory aut

UBI to raise up to RS 827 cr via equity issues, debt instrument

Public sector lender United Bank of India on Monday said it is planning raise up to Rs 827.49 crore of aggregated capital by issuing equity shares and through debt instruments.

In a regulatory filing, the lender said the Board of Directors at its meeting held on Monday has approved "issue and allotment" of equity shares at premium to the President of India acting on behalf o

MRF stock touches fresh high of Rs 60,140 per share

The scrip of MRF, the country's largest tyre manufacturer, on Monday touched a fresh high of Rs 60,140 per share during the mid-afternoon trade session.

The company's stock, which is the most expensive in terms of share price on the BSE, surged past the mark of Rs 60,000 per share for the first time, to touch a new 52-week high during the day's trade.

The scrip,

Airtel sells over 10% stake in subsidiary for Rs 6,100 cr

Telecom major Bharti Airtel on Tuesday announced the sale of 10.3 per cent stake in subsidiary Bharti Infratel to a consortium of funds for over Rs 6,190 crore ($951 million).

"Bharti Airtel announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Ltd, representing 10.3 per cent, to a consortium of funds advised by KKR

Indian equities trade higher on positive global cues

Positive global cues and healthy buying in banking, automobile and healthcare stocks lifted the Indian equity markets during the mid-afternoon trade session on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 55.15 points or 0.61 per cent to 9,100.35 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,301.22 po

Indian Oil to supply fuels to Nepal for five years

NEW DELHI  - Indian Oil Corp has agreed to supply refined products to Nepal for the next five years to meet all the fuel needs of the landlocked Himalayan nation, officials said on Monday.

India has supplied all Nepal's fuel needs since 1974 and is keen to maintain close trading ties with its neighbour in South Asia, an area where regional rival China has sou

Vedanta's Agawal says happy with his 13 percent of Anglo American

NEW DELHI - Indian billionaire Anil Agarwal said on Monday he was happy with his personal 13 percent stake in mining company Anglo American and was just planning to keep it as an investment for now.

"I got the opportunity to take 13 percent share of that company because I also believe that India and Africa go hand in hand," Agarwal told a business summit.

Sadbhav Infra gets highway project in Rajasthan from NHAI

Sadbhav Engineering arm Sadbhav Infrastructure Project Ltd on Monday said that it has been declared as the lowest bidder 'L1' for highway (HAM) project by NHAI. In a filing to the Bombay Stock Exchange, Sadbhav Infrastructure Project said, “Company has been declared 'L1' HAM project by NHAI on 27th March, 2017.”

The project includes 6 lane of greenfield pro

Indian equities subdued on negative global cues

Negative global cues and heavy selling pressure witnessed in metal, automobile, and healthcare stocks subdued the Indian equity markets during the mid-afternoon trade session on Monday.

The global markets were spooked as US President Donald Trump's failure to overturn his predecessorBarack Obama's healthcare reforms and increased concerns over his ability to implement economic

Lenovo announces new data centre business leadership

In a bid to accelerate its global data centre business growth, Chinese technology giant Lenovo on Monday appointed Kim Stevenson as Senior Vice President and General Manager of its new Data Centre Infrastructure (DCI) business segment.

Apart from Stevenson's appointment, the company announced new roles for three other executives for its global data centre senior leadership team.

Ola's connected car platform 'Ola Play' launched in Hyderabad

Ride-hailing platform Ola on Monday launched "Ola Play", its connected car platform for ride-sharing, in Hyderabad.

Powered by proprietary in-car and cloud technologies from Ola, "Ola Play" brings advanced car controls, choice of personalised content and a fully connected interactive experience for users on the move. 

"We believe this will enhan