Aurionpro Solutions arm to sell IAM biz to KPMG

Aurionpro Solutions, a technology product and solution provider, on Wednesday said that its subsidiary, Cyberinc, has entered into a definitive agreement with KPMG LLP, USA, for sale of its Identity and Access Management (IAM) business. “The transaction is expected to close on January 31st 2018,” Aurionpro Solutions said in a filing to the Bombay Stock Exchange. The company further

NIIT acquires US-based Eagle Productivity Solutions

NIIT Limited, a global skills and talent development company, on Wednesday said that it has acquired Eagle International Institute, Inc. doing business as Eagle Productivity Solutions through its wholly owned subsidiary, NIIT (USA) Inc. Headquartered in Rochester USA. Eagle is a top-rated global provider that specializes in training solutions for companies adopting sophisticated cloud-based app

BOM to fix issue price for Rs 650-cr capital infusion on Jan 17

Bank of Maharashtra said it will fix the issue price for the preferential allotment of shares worth Rs 650 crore to the government on January 17, reported PTI. "Board of directors of the bank at its meeting held on January 3, 2018 considered and approved the proposal of raising of equity capital up to Rs 650 crore by way of preferential allotment in favour of government," it said in a

BSNL starts online verification of SIMs for NRIs, elderly

BSNL rolled out Aadhaar-based online verification of mobile connections for non-resident Indians, senior citizens above 70 years and physically challenged persons, reported PTI. "Bharat Sanchar Nigam Limited (BSNL) has introduced simplified reverification process for...NRI, senior citizens and physically challenged persons.

This web based application can be used from the comfort

HCG signs pact with Strand Life Sciences

Healthcare Global Enterprises (HCG), India's largest provider of cancer care, on Thursday said it has entered into definitive agreements providing for a business combination of its Triesta Sciences business unit with Strand Life Sciences Private Limited. “The company has entered into a business transfer agreement, a share subscription agreement and a shareholders' agreement with S

Indiabulls Housing Finance redeems NCDs

Mortgage lender Indiabulls Housing Finance on Thursday said that it has redeemed Non-Convertible Debentures of face value Rs 10,00,000 each issued by the company. “The company has redeemed (bought back) Secured, Redeemable, Non-Convertible Debentures of face value INR 10,00,000 each (hereinafter the 'NCDs') issued by the Company,” Indiabulls Housing Finance said in a filing

Wipro grants 20,000 restricted stock units

Wipro, the country’s third largest software exporter, on Thursday said that it has granted restricted stock units to its unidentified employee. “This grant is effective from January 2, 2018,” Wipro said in a filing to the Bombay Stock Exchange.

Meanwhile, shares of company were trading at Rs 1017.25 apiece, down 0.18 per cent, from previous close on the BSE at 9:30 h

Infosys CEO Parekh to get Rs 16.25cr salary, package 45% less than Sikka`s

 Possibly in a bid to avoid criticism of high pay to its top official, global software major Infosys has said it will pay its new Chief Executive Officer and Managing Director (CEO & MD) Salil S. Parekh Rs 16.25 crore salary per annum.

In a regulatory filing on the BSE, the company said in addition to Rs 6.5 crore fixed pay and Rs 9.75 crore variable pay, Parekh would get its

RBI puts Allahabad Bank under prompt corrective action

 India's Allahabad Bank said the Reserve Bank of India (RBI) has initiated 'prompt corrective action' (PCA) against the state-run lender over its high bad loans.

High net non-performing assets (NPA) and a negative Return On Assets (ROA) for two years in a row has prompted the action, the bank said in a statement late on Wednesday, although it added the action would he

Sensex edges up amid caution ahead of corporate results

By Tanvi Mehta

Indian shares edged higher on Thursday with market heavyweights Coal India Ltd, Tata Steel Ltd and Larsen & Toubro Ltd (L&T) leading the rise, amid caution ahead of the corporate results season starting next week and the annual budget due next month.

Investors are awaiting December-quarter results, including from Tata Consultancy Services Ltd and Infos

Audi India`s 2017 sales up 2%

Luxury car manufacturer Audi India on Wednesday reported a rise of two per cent in its 2017 sales in India.

According to the company, its sales in the Indian market for 2017 increased to 7,876 units.

"Audi completed ten years in India in 2017 and we are delighted that within this short span, it has become one of the most preferred luxury car brands for enthusiasts in th

RIL to become cash flow-positive: CLSA

 Retaining its "buy" recommendation on the Reliance Industries (RIL) stock, global brokerage firm CLSA on Wednesday said RIL is likely to turn cash flow-positive this fiscal by reaping benefits of its downstream expansion and expects the company to monetise its Jio telecom network.

During 2017-18, the Mukesh Ambani-led RIL was expected to end a four-year run of negative

Profit booking subdues equity indices

 The key indices of the Indian equity market closed Wednesday's trade session on a flat note after investors booked profit in automobile, healthcare and oil and gas stocks.

According to market analysts, profit booking pared the initial gains made on the back of positive Asian markets.

Consequently, the 30-scrip S&P BSE Sensex, which had ended the previous sessio

UCO Bank to issue preference shares to government for Rs 1,375 cr

Public sector lender UCO Bank said its Board has approved a proposal to issue equity shares on preferential basis to the government for capital infusion of Rs 1,375 crore. "We have received the approval of Board of Directors...for the proposal to issue equity shares on preferential basis to Government of India against capital contribution of Rs 1,375 crore subject to necessary approvals,&q

Toyota December sales decline 15% to 10,793 units

Toyota Kirloskar Motor (TKM) on Tuesday reported a 15.32 per cent decline in domestic sales at 10,793 units in December 2017. The company had sold a total of 12,747 units in the same month previous year in the domestic market, TKM said in a statement. TKM exported 812 units of the Etios series in December 2017 compared to 1,346 units in December 2016, a decline of 39.67 per cent.

In 2

Ford India December sales up 27% to 29,795 units

Ford India on Tuesday reported 27 per cent jump in total sales at 29,795 units in December. The company had sold 23,470 units in the same month previous year, Ford India said in a statement. Domestic sales were down 8.6 per cent at 5,087 units last month as against 5,566 units in December 2016, it added. Exports were at 24,708 units last month as against 17,904 units in the year-ago month, a gr

NTPC records highest power generation of 67,781 mn units in Q3

State-run NTPC said its power generation was the highest in October-December at 67,781 million units. "NTPC with installed capacity of 51,383 MW has recorded its highest ever quarterly generation of 67,781 MUs (million units) during Q3 of 2017-18, which is 10.39 per cent more than the generation of 61,400 MUs recorded during the corresponding period last year," a company statement sai

Aarti Drugs board to consider share buyback

Aarti Drugs on Wednesday said that its board will meet on January 8, 2018, to consider proposal of buyback of the fully paid-up equity shares of the company. “The board of directors of the company is scheduled to be held on 8th January, 2018, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the company including matters related/incidental thereto,” A

Global cues lift equity indices

Positive Asian markets, along with value buying, pushed the key indices of the Indian equity market higher during the post-noon trade session on Wednesday.

According to market analysts, healthy buying support was witnessed in consumer durables, capital goods and banking stocks.

At 1.00 p.m., the 30-scrip S&P BSE Sensex, which had previously closed at 33,812.26

Parekh excited to lead Infosys as CEO

Software veteran Salil S. Parekh, who took over as the CEO and MD of Infosys on Tuesday, said he was excited to lead the IT major on its path of helping clients digitally reinvent themselves.

"I am excited to lead the company on its path of helping clients digitally reinvent themselves for sustained growth," said Parekh in his maiden address to nearly 2 lakh Infosys techies

RIL commissions world`s largest refinery off-gas cracker at Jamnagar

 Reliance Industries Limited (RIL) has successfully commissioned its refinery off-gas cracker (ROGC) complex of 1.5 million tonnes per annum (MTPA) capacity along with downstream plants and utilities, the company announced here on Tuesday.

It said the ROGC complex is a core component of RIL's most innovative and world-scale J3 project at its integrated Refinery-Petrochemicals

India`s top iron ore state Odisha to meet output target despite mine closures

By Jatindra Dash

BHUBANESWAR, India - India's top iron ore state is likely to produce 100 million tonnes of ore in the 2017/18 fiscal year, in line with its target, despite authorities ordering the closure of some mines, a senior government official told Reuters on Tuesday.

    Odisha suspended operations of seven mines after leaseholders

Tata Power commissions 50 MW solar plant in Karnataka

Tata Power Renewable Energy, the wholly-owned subsidiary of Tata Power, on Tuesday said that the company has commissioned its 50 MW DCR solar plant at Pavagada Solar Park in Karnataka. “The project was won by the Company on 4th April 2016 under the National Solar Mission Phase-II Batch-II Tranche-I State Specific Bundling Scheme. With this development, TPREL's total installed operatin

IBHF raises Rs 1,000 cr from Yes Bank for affordable hsg

Mortgage lender Indiabulls Housing Finance (IBHF) today said it has raised Rs 1,000 crore from private sector lender Yes Bank in the country's maiden social affordable housing bond sale. Money raised through the sale of the five-year bonds will be used exclusively for financing the affordable housing sector, a statement said.

It can be noted that the government has set a target of

Profit booking subdues equity indices

Profit booking during the last hour of Tuesday's trade session pulled the key indices of the Indian equity market to a flat close.

According to market analysts, heavy selling pressure in healthcare, capital goods and oil and gas stocks pared initial gains and induced volatility.

At 3.35 p.m., the 30-scrip S&P BSE Sensex, which had previously closed at 33,812.75 point