Bajaj Finance, the lending and investment arm of Bajaj Finserv, has lowered the minimum cap for fixed deposits to Rs 25,000 to attract retail investors, reported PTI. The company will offer an annual cumulative interest rate of 8.05 per cent for a tenor of 36-60 months on the reduced amount, Bajaj Finance said in a statement. Earlier, for depositors in the National Capital Region and Greater Mu
IDBI Bank has lowered interest rates on retail term deposits by 0.5 per cent for maturity between 31 days to up to 2 years, reported PTI. The new rates on these deposits range from 4.50 per cent to 6.40 per cent. For senior citizens, the new rates will be ranging from 4.5 per cent to 6.90 per cent. All maturity buckets from above 2 years onwards to up to 20 years have been cut by 0.75 per cent
By Tanvi Mehta
Indian shares reversed gains from the previous session's record highs to fall on Thursday, as investors waited for clues on which way interest rates are headed when India's central bank meets to deliberate on monetary policy later in the day.
Although the Reserve Bank of India (RBI) has pulled surprises at its last three policy meetings, analysts unifo
Global software major Infosys' Board is under fire again, this time from its former Board Member V. Balakrishnan for letting down its founders by giving a whopping wage hike to Chief Operating Officer U.B. Pravin Rao.
"The present Infosys' Board has let down its founders and lost credibility to continue. Its members should be replaced with new people," Balakris
Essar Ports on Wednesday announced that the cargo traffic at its terminals climbed 25 per cent to nearly 73 million tonnes (MT) during the fiscal ending March 31.
"The consolidated cargo handling across the company's five operational ports in Hazira (Gujarat), Paradip (Odisha), Visakhapatnam (Andhra Pradesh), Salaya (Gujarat) and Vadinar (Gujarat) rose to 72.86 million tonnes
Adani Australia's controversial $21 billion Carmichael coal mine has been granted an unlimited 60-year water licence, in a move slammed by environmental and legal groups.
The associated water licence, signed by a Queensland government representative the day after Cyclone Debbie tore through the state's north, allows Adani Mining to take water from or near the Betts Creek
By Sudarshan Varadhan
NEW DELHI - Coal India Ltd is actively looking to acquire coking coal assets in Australia, a senior company official told Reuters, as the country looks to beef up its foreign coal assets.
The state-controlled company, which in January also listed the United States, Colombia, Canada and Indonesia as target destinations for investment, is
MUMBAI - Tractor sales in India are likely to grows in double digits in the fiscal year that started on April 1, following a decision by at least two states to waive some loans to farmers, India's biggest tractor maker said on Wednesday.
India's tractor industry posted 18 percent volume growth in the fiscal year that ended March 31.
Broadly positive global cues and healthy buying in consumer durables, capital goods and automobile stocks buoyed the Indian equity markets on Wednesday and both the key indices touched new 52-week intra-day highs as well as new closing highs.
The wider 51-scrip Nifty of the National Stock Exchange (NSE), after opening at a record high of 9,264.40 points, provisionally closed at 9,265.
Yes Bank said 3.27 crore shares allotted under the Qualified Institutions Placement (QIP) have been listed and available for trading on the stock exchanges, reported PTI. The QIP through which the bank raised Rs 4,906.65 crore (USD 750 million) will boost the capital adequacy to 20 per cent, Yes Bank said in a statement.
It will ensure the bank is well positioned to capitalise on the
Public sector lender Indian Bank said on Wednesday that Kishor Piraji Kharat, MD & CEO of IDBI Bank, assumed charge as its new Managing Director and Chief Executive Officer effective from April 4, 2017. “Kishor Piraji Kharat has assumed charge of MD & CEO of Indian Bank on April 04, 2017,” the bank said in a filing to the Bombay Stock Exchange on April 05, 2017.
Ujaas Energy said that it has received work orders from RRECL and MPUVN. The company has received work orders under capacity allocation from RRECL for design, supply, installation and commissioning of 850Kwp grid connected solar power plant in various schools and colleges in Rajasthan.
It has also received a work order from MPUVN for erection, installation, completion and commissionin
Tata Power Renewable Energy Ltd (TPREL), India's largest renewable energy company, on Wednesday announced commissioning of its 100 MW wind farm project in Nimbagallu in Andhra Pradesh.
The company commissioned 36 MW wind capacity of the plant in December 2016.
TPREL, the wholly-owned subsidiary of Tata Power, announced the commissioning of the balance 64 MW on Wednesday.
With 72 million subscribers enrolling for prime membership till March 31, Reliance Jio will remain disruptive given its aspirations, investment banking firm Jefferies said here on Wednesday.
Last week Jio reported that out of its over 100 million subscribers of free services, over 72 million have enrolled for the Jio Prime membership. The enrollment allows subscribers unlimited monthl
Global credit rating agency Moody's Investors Service said it has retained its rating for State Bank of India's (SBI) senior unsecured notes after the issue size was increased by USD 100 million to USD 600 million. The issue is part of SBI's USD 10 billion medium-term note programme. "The upsize will be carried out from its London branch, and the bonds will be listed on the Sin
Countrys largest two-wheeler maker Hero MotoCorp has reported a marginal increase in sales at 6,09,951 units in March. The company had sold 6,06,542 units in March 2016, Hero MotoCorp said in a statement. The two-wheeler major said its sales during the 2016-17 fiscal stood at 66,63,903 units, the companys highest-ever sales in a financial year. It had retailed 66,32,322 units in 2015-16.
Bringing cheer to customers who have raised loans prior to April 1, 2016, the largest public lender State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10 per cent with effect from April 1, 2017. Earlier, the base rate stood at 9.25 per cent.
The marginal cost-based lending rate (MCLR) of the SBI, however, remains unchanged. The six-month MCLR rate is at 7.95 per
Mukesh Ambani-led Reliance Industries Ltd (RIL) has got environment clearance for the expansion and de-bottlenecking of its Dahej petrochemical unit in Bharuch district of Gujarat at a cost of Rs 13,250 crore, as per the media reports. RIL wants to expand its Dahej plant in view of erratic supply of feed stock, change in the government's policy to prioritize domestic supply over industrial
Hinduja Group flagship Ashok Leyland has said that it has reported a 12 per cent increase in total sales at 18,682 units in March. The company had sold 16,702 units in the same month last year. Sales of heavy and medium commercial vehicles were up 15 per cent at 15,258 units last month as against 13,240 units in the year-ago period, the company said in a filing to the Bombay Stock Exchange.
TVS Motor Company has said that it has posted a sales growth of 10 per cent during the month of March 2017, with total sales increasing from 232,517 units recorded in the month of March 2016 to 256,341 units in the month of March 2017. The total two-wheeler sales increased by 10.7 per cent from 226,643 units recorded in March 2016 to 250,979 units in March 2017.
The air passenger traffic in the country rose by 14 per cent year-on-year (y-o-y) to 21.9 million in February, domestic rating agency ICRA said on Tuesday.
According to the ICRA report, during the 11 months of financial year 2016-17, y-o-y growth in the passenger traffic has been reported at 19 per cent, aircraft traffic by 14 per cent and cargo traffic at 9 per cent.
By Tanvi Mehta
Indian shares traded flat on Wednesday, paring gains after the NSE Nifty hit a record high at the open, as investors took a breather ahead of the central bank policy meet due this week.
The monetary policy committee of the Reserve Bank of India (RBI) is likely to leave the repo rate at 6.25 percent, where it has been since October, a Reuters poll found.
Drug firm Dr Reddy’s Laboratories Ltd on Tuesday said that the US health regulator, United States Food and Drug Administration (USFDA), has issued fresh 2 observations after inspection of its API manufacturing facility at Srikakulam in AP. In a filing to the Bombay Stock Exchange, the company said, “The audit of our API manufacturing plant at Srikakulam, Andhra Pradesh by the US FDA
Snapdeal's three biggest investors - Japan's SoftBank, Kalaari Capital and Nexus Venture Partners have moved closer to resolving an impasse, potentially clearing the way for a sale of the e-tailer to one of its rivals, Flipkart or Paytm, according to a Mint report, citing unnamed sources.
The newspaper report said that at a board meeting of Jasper Infotech, the company b
Global pharmaceutical company Cipla on Tuesday announced that it has received final approval of the US Food and Drug Administration (USFDA) for the generic version of Epzicom tablets -- for the treatment of HIV-1 infection.
"Abacavir and Lamivudine Tablets USP, 600 mg/300 mg, are AB-rated generic equivalents to the reference listed drug (RLD), Epzicom Tablets, 600 mg/300 mg of Vi