New Alliance Air flight connects Vizag, Vijayawada, Tirupati

Alliance Air, the wholly owned subsidiary of Air India, announced new flight operations from Saturday connecting the three important cities in Andhra Pradesh - Vizag, Vijayawada and Tirupati.

The new flight enables passengers from Vizag to reach Tirupati within two and a half hours. 

The flight is operated with ATR-42 aircraft which has a capacity of 70 people.

BEL turnover up 17% in 2016-17

State-run Bharat Electronics Ltd (BEL) posted a turnover of Rs 8,800 crore for the just-concluded fiscal 2016-17, registering 17 per cent annual growth from Rs 7,522 crore in the previous fiscal 2015-16, said the defence major on Saturday.

"Among the projects executed by the company during the fiscal under review are Akash Weapon System, Hand-held Thermal Imager with Laser Range

Eicher Motors logs 17% growth in March

Two-wheeler maker Eicher Motors Ltd on Saturday said it closed last month with 17 per cent growth in sales volume.

In a statement, the company said it sold 60,113 motorcycles last month as against 51,320 units sold in March 2016.

"Owing to our strong order book, we have cleared all BS III inventory in due time. Our customers will be receiving BS IV compliant motorcycles

HAL sales grew 4% in fiscal 2016-17

State-run Hindustan Aeronautics Ltd (HAL) posted sales of Rs 17,406 crore in the just-concluded fiscal 2016-17, registering 4 per cent annual growth from Rs 16,736 crore in the previous fiscal, the defence behemoth said on Saturday.

"It is business as usual for us with the company doing well on expected lines. We paid Rs 800 crore to the government by interim dividend. This is in

State Bank of Hyderabad slides into history

Seventy-five years after it was set up to manage the currency of Nizams, the State Bank of Hyderabad (SBH) on Saturday became part of history with its merger with the State Bank of India (SBI).

It was the identity and an integral part of the rich legacy of this historic city and one of the last remnants of the Asaf Jahi dynasty of the erstwhile Hyderabad state.

The curtains

IDBI Bank employees to strike work on April 12

Around 15,000 IDBI Bank employees would strike work on April 12, demanding a wage revision, the All India Bank Employees' Association (AIBEA) announced on Saturday.

In a circular to its members, the AIBEA said the wage revision settlement in IDBI Bank for employees and officers is due from November 2012.

"The government and the management (of IDBI Bank) are dilly-da

Petrol cut by Rs 3.77 a litre, diesel by Rs 2.91

State-run Indian Oil Corp (IOC) substantially reduced prices of transport fuels effective from Saturday, of petrol by Rs 3.77 a litre and of diesel by Rs 2.91, both at Delhi, with corresponding cuts in other states following the recent decline in global crude rates.

"The current level of international product prices of petrol and diesel and INR-US Dollar exchange rate warrant dec

Bandhan Bank slashes deposits rates up to 50 basis points

City-headquartered Bandhan Bank has reduced its deposit rates up to 50 basis points across tenures, after being experiencing high liquidity and relatively lower credit growth, a top bank official said on Friday.

The lender now offers 7.5 percent for one year deposits compared with 7.70 percent earlier while for the 5-10 years period, the rate was revised to 6.5 per cent from 7 percent

Reliance Jio signs up 72 million paying customers

MUMBAI  - Reliance Jio, the telecom unit of Reliance Industries, said on Friday it had signed up 72 million paying customers under its Prime plan, and added it had extended the enrolment deadline for the plan until April 15.

Jio's Prime plan is a critical component of the company's push to start charging its customers after starting operations in Septembe

Coal India Director Mohan Das' services terminated

Coal India on Friday said the services of one of its Directors R. Mohan Das were terminated from Thursday.

"Service of Coal India's director personnel, R Mohan Das is terminated with effect from March 30 as per direction received from the Ministry of Coal," the state-run miner said in a filing to the Bombay Stock Exchange.

"He ceased to be the Director of

Tata Motors-Jayem Automotives to develop performance vehicles

Automobile major Tata Motors on Friday announced a joint venture with Jayem Automotives for the development of special performance vehicles based on the latest series products.

The automobile major said the joint venture firm -- JT Special Vehicles -- will work towards performance enhancement and appearance of series vehicles to offer an innovative range of niche aspirational products

TCS named Red Hat's US partner of the year

Leading open source solutions provider Red Hat has felicitated Tata Consultancy Services (TCS) with 'US partner of the year' recognition in the commercial category.

TCS was chosen for providing innovative open source solutions to customers in the commercial sector and driving innovative solutions and joint business in the areas of automation, cloud and data analytics.

Advertising watchdog asks Airtel to withdraw TV commercial by April 11

The advertising watchdog has asked Bharti Airtel to "modify appropriately or withdraw" the TV commercial and website advertisement by April 11, 2017, where broadband tester Ookla declared Airtel as the "Fastest Mobile Network" in India.

However, Bharti Airtel said it disagrees with the Advertising Standards Council of India (ASCI) decision and said the company will

Tata Motors bets big on new generation cars, remains optimistic in FY18

Automobile major Tata Motors which achieved close to 20 per cent growth in its passenger car sales in the first 11 months of the current fiscal is "optimistic" about its sales growth in 2017-18, a top company official said on Friday.

"Nationally, we are growing close to 20 per cent in the current fiscal while the industry growth was about 7-8 per cent," the company

Rs 1.15 lakh cr more currency needed for optimal remonetisation: SBI

The RBI needs to print an additional Rs 1.15 lakh crore-worth of currency notes to reach a level of optimal remonetisation, with Rs 13.12 lakh crore already in circulation as on March 24, the State Bank of India (SBI) said on Friday.

"We believe Reserve Bank of India (RBI) should only print Rs 1.15 lakh crore more from March 24 levels. And going by the average pace of printing, t

Indian shares end flat; Nifty posts best quarter in almost three years

The Nifty ended steady on Friday as investors booked profits, but posted its third consecutive monthly gain as well as the best quarter in almost three years.

The Nifty advanced 3.3 percent this month after hitting a record high of 9,218.40 on March 17. For the quarter it rose 12.1 percent, its best showing since April-June 2014.

On Friday, the Nifty ended flat at 9,173.75,

Rosneft-led deal to buy India's Essar delayed until April

NEW DELHI/MOSCOW - The purchase of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft has been delayed by a few weeks, the two sides said on Friday, because some Indian lenders to Essar have yet to sign off on the deal.

The $12.9 billion deal, in which Rosneft is set to take a 49 percent stake in Essar to pursue its global expansion, was expec

Ruckus after SpiceJet flight is cancelled

Passengers created a ruckus after a SpiceJet Mumbai-Mangalore flight was cancelled here on Friday morning, leaving 178 people stranded, officials said.

The flight SG-479, scheduled for departure at 8.55 a.m., was axed due to technical problems, said a SpiceJet spokesperson.

Many of the agitated passengers were accommodated on other flights to Mangalore. Some opted for refund

TVS Motors begins sale of BS IV compliant vehicles

TVS Motor Company has said that the Honourable Supreme Court has passed an order dated 29th March, 2017 stating that only vehicles, which meet BS IV emission standards can be sold and registered with effect from 1 April, 2017. TVS Motor Company is a responsible corporate citizen and is fully supportive of a better environment for our customers, and society at large. Products of TVS Motor Compan

Mindtree positioned `Leader` in Zinnov's global study

Mindtree, a global digital transformation and technology services company, has been featured in the leadership zone for Publishing, Broadcasting and Education verticals in Zinnov's global study of Media and Technology services titled Zinnov Zones 2016 - Media & Technology. In the technology-specific ratings section, Mindtree has been rated as a Mature and Established player for over-the

Bank of India to raise Rs 204 cr by issuing shares to LIC

Bank of India will raise Rs 204.42 crore by issuing shares to LIC on preferential basis. The shareholders at the extra ordinary general meeting held today approved to allotment of 1.75 crore shares on preference basis to LIC at Rs 116.81 per share, the bank said in an exchange filing.

Indiabulls Housing Fin raises Rs 485 cr via NCDs

Indiabulls Housing Finance has raised Rs 485 crore through issue of non-convertible debentures on private placement basis, reported PTI. The company had in November last year announced its plan to raise up to Rs 6,000 crore through issue of secured, redeemable and non-convertible debentures (NCDs) on a private placement basis.

The company said that it has today alloted its 12th and 13

SBI's proposed debt less likely to default at BBB- by Fitch

Fitch Ratings has assigned SBI's proposed debt instruments with a less default likelihood at BBB-(EXP) rating, reported PTI. The debt instruments constitute direct, unconditional, unsubordinated and unsecured obligations of SBI. Issue is expected to be of three year tenor and the notes are to be issued by SBI's London branch.

These instruments are rated at the same level of ba

United Bank raises Rs 200 cr to up capital base

United Bank of India has raised Rs 200 crore to add up to its tier-I capital under Basel III regulations, reported PTI. United Bank has issued 2,000 units of debt instruments in the nature of debentures for inclusion in its additional tier-I capital, it said in an exchange filing. The bonds which are Basel III complaint helped raise money in a break-up of Rs 150 crore plus a green shoe option o

SBI raises $500 mn in 3-year dollar debt

State Bank of India raised USD 500 million in forex debt in three-year dollar money as part of its medium term notes (MTN) programme, making it the second fund raising by it this year, reported PTI. The RegS bond programme has been sold through its London branch and is priced at Libor plus 95 bps. A RegS or Regulation S issue means that under the US Securities Commission norms, the instrument w