IndiGo expects to get 20 ATRs by 2019

Budget passenger carrier IndiGo on Monday said that it expects to get 20 turbo-prop ATR aircraft from early 2019 and that they will be utlised to expand the airline's domestic network.

"We expect to get 20 ATRs by January 2019," IndiGo's President and Whole Time Director Aditya Ghosh told shareholders here at the company's annual general meeting.

The ai

Government to off-load 5 per cent stake in NTPC

The government on Monday said that it plans to sell up to 5 per cent of its equity stake in NTPC.

According to a notice on BSE, the company will open the "Offer For Sale " (OFS) facility for bids on Tuesday, August 29 for non-retail investors and for retail investors on August 30.

The company's OFS proposes to off-load 41.23 crore shares. Further, the notice sa

Vijaya Bank to raise Rs 1000-cr in QIP

Vijaya Bank launched a Rs 1,000-crore institutional sale of shares with a floor price of Rs 66.36 per share. The Bengaluru-based bank can offer a discount of up to 5 per cent on the floor price for the qualified institutions placement (QIP) of shares, it said in a regulatory filing.

The bank board had decided to go for the QIP at its meeting on May 9, for which the shareholders had gi

Bharti Airtel completes acquisition of Tikona shares

Bharti Airtel, Indian leading telecommunications company, on Monday said that it has completed acquisition of Tikona Digital Networks shares. “As the first step towards the merger, the proposed acquisition of shares has now been completed. With the said acquisition of shares, Tikona Digital Networks Limited has become a wholly owned subsidiary of Bharti Airtel,” the telecom major sa

India to sell up to 10 pct of utility NTPC in potential $2.2 billion deal

MUMBAI - India's government said it will sell a 5 percent stake in top power producer NTPC Ltd through a stock market auction, with a greenshoe option to sell another 5 percent in a deal that could raise up to $2.2 billion.

The share sale, which will take place this week, is one of a number of partial stake sales planned to help New Delhi meet its fiscal deficit t

NSE adds three members to broad Nifty 50 index, removes four

MUMBAI  - India's National Stock Exchange said on Monday it would add Bajaj Finance Ltd, Hindustan Petroleum Corp Ltd, and UPL Ltd to its broad Nifty 50 index, while removing four constituents.

To make room for the new entries, the exchange will remove ACC Ltd, Bank of Baroda, Tata Power Co Ltd, and Tata Motors Ltd's deferential voting rights (DVR), accor

IISL to implement changes in Nifty50 stocks from September

India Index Services and Products (IISL) on Monday said certain changes will be made in stocks of the Nifty50 index -- including other Nifty indices -- which shall become effective from September 29.

According to the subsidiary of stock exchange major NSE, the changes will be made as part of its periodic review.

"The Index Maintenance Sub-Committee (IMSC) has decided to

F18s compatible with Indian naval carrier fleet: Boeing

Global defence equipment major Boeing on Monday said that its F/A-18 Super Hornet fighter aircraft is compatible with India's current naval carrier platforms and that they can be produced in the country under the government's "Make in India" initiative.

"Analytical and (computer) simulations have shown that the F/A-18 is compatible with the current carrier fleet

Royal Enfield begins production at 3rd plant

Niche bike maker Royal Enfield said that it has started commercial production from its new manufacturing facility at Vallam Vadagal near Chennai. The plant spread over 50 acres is the company's third manufacturing facility and will manufacture Royal Enfield motorcycles for India and international markets, the company said in a statement.

With the new plant coming onstream, the tot

IndiGo to look at GE engines for A320 neo planes: Aditya Ghosh

IndiGo will also look at GE engines for its planned 280 A320 neo planes, its President Aditya Ghosh said amid the airline grounding some of its neo fleet due to the Pratt & Whitney engine issues, reported PTI. Addressing shareholders at the annual general meeting here, he also said the airline expects to have 20 turbo prop aircraft by January 2019. As part of ambitious expansion plans, Indi

Borosil Glass Works sets Record Date for stock split

Borosil Glass Works Ltd. (BGWL), a market leader for laboratory glassware and microwavable kitchenware in India, on Monday said that the company has fixed September 15, 2017 as the 'Record Date' for the purpose of sub-division of equity shares.

“The company has fixed Friday, 15th September, 2017 as the 'Record Date' for the purpose of sub-division of equity share

Cambridge Tech achieves DevOps Competency Status from AWS

Cambridge Technology Enterprises (CTE) said that it has achieved the Amazon Web Services (AWS) DevOps Competency Status. CTE is committed to AWS to provide all its clients with trusted cloud based solutions on AWS, it said in a BSE filing. The AWS DevOps Competency program highlights that companies must have extensive experience , demonstrable technical proficiency and proven success assisting

Easing geo-political tensions, healthy buying lift equities

Despite broadly negative global cues, the key Indian equity indices provisionally closed on a higher note on Monday as easing geo-political tensions between China and India, coupled with healthy buying in capital goods, consumer durables and IT stocks, lifted the sentiments of investors.

According to market observers, a strong rupee and intense buying activities observed in index heav

ICEX launches world`s first diamond futures contracts

MUMBAI - The Indian Commodity Exchange (ICEX) launched the world's first diamond futures contracts on Monday to provide exporters with a hedging tool.

India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished.

The 1-carat contract for expiry in November, December and January will have delivery centre at Sur

Hitachi launches Unified Compute Platform RS data centre

Hitachi Data Systems (HDS) and VMware Global Innovation OEM Partner of the Year on Monday launched the Hitachi Unified Compute Platform (UCP) RS series, a fully integrated, software-defined data centre (SDDC) rack-scale platform, powered by VMware Cloud Foundation.

Hitachi UCP RS, which is now available to all, enables customers to embrace hybrid cloud for faster time to market and pa

TPREL generation capacity up by 460% in FY17

Tata said that its arm Tata Power Renewable Energy (TPREL), has increased its generation capacity by 460 per cent in FY17 as compared to FY16. TPREL generated 1440 MUs that from renewable energy sources (wind & solar) in FY17 as compared to 329 MUs in FY16, the company said in a filing to the Bombay Stock Exchange.

TPREL is the primary vehicle through which Tata Power's invest

M&M launches new tractor brand Trakstar from Gujarat arm

Mahindra & Mahindra today renamed its joint venture with the Gujarat government, Mahindra Gujarat Tractors, as Gromax Agri Equipment Ltd while also launching a new brand, Trakstar, under the partnership. A range of tractors in 30-50 HP (horse power) category under the Trakstar brand will be introduced as part of a new strategic direction for Gromax Agri Equipment, M&M said in a statemen

Creditor banks seek to sell at least 30 percent of Jaiprakash Power - source

MUMBAI - Creditor banks of Jaiprakash Power Ventures Ltd are seeking bidders to buy a stake of at least 30 percent in the Indian power producer, the majority of which they jointly own, a banker involved in the sale told Reuters on Monday.

A document on the website of SBI Capital Markets showed an unidentified creditor group has hired the investment bank and peer Ernst

Record date for allotment of Reliance Home Finance shares fixed for September 6

Reliance Capital Ltd, part of the Anil D. Ambani-led Reliance Group, on Monday announced the record date for allotment of equity shares of Reliance Home Finance Ltd.

In a statement issued here Reliance Capital said all persons who are shareholders of Reliance Capital as on September 6, will receive one free share of Reliance Home Finance for every share held in Reliance Capital.

Airtel, Symantec ink partnership on cyber security for businesses

To serve the growing cyber security needs of businesses in India, Bharti Airtel and cyber security provider Symantec have inked a strategic alliance to protect customers from increasing online threats.

Under the terms of the agreement, Airtel will be the exclusive cyber security services partner for Symantec in India, and will distribute Symantec's enterprise security software, sa

Dr. Reddy`s launches Cefixime in US markets

Dr. Reddy’s Laboratories said that it has launched Cefixime for Oral Suspension, USP 100 mg/5ml and 200 mg/5ml, a therapeutic equivalent generic version of Suprax (cefixime) for Oral Suspension, approved by the U.S. Food and Drug Administration (USFDA) in US markets.

The Suprax brand and generic had US sales of around $50.5 million MAT for the most recent twelve months ending in

Rajesh Exports features in 13th Forbes Asia`s `Fab 50` List

Rajesh Exports said that it has made its debut in the 13th Forbes Asia’s ‘Fab 50’ List. “The company is one of the eight companies from India to feature in the list and is the largest company on the list in terms of revenue ($36.1 billion),” it said in a filing to the Bombay Stock Exchange. To determine the Fab 50, Forbes analysed a pool of 1,694 publicly traded co

Canara Robeco announces 17.5% Dividend

Canara Robeco Mutual Fund has announced 17.5 per cent dividend under dividend payout option of scheme named as “Canara Robeco Infrastructure” on the face value of Rs 10 per unit. The record date for the dividend is August 24. The latest NAV of the scheme is Rs 29.16.

The investment objective of the open ended equity scheme is to generate income / capital appreciation by in

'Manipulation, perversity in stock markets needs to be checked'

The financial vulnerabilities of the stock markets resulting in manipulation and perversity needs to be checked in order to promote fair and ethical trading practices, Finance Secretary Ashok Lavasa said on Monday.

"There is a dilemma between what technology and manual trading can provide. Increase of algorithm trading should not prevent people from participating in the stock mar

Rural Electrification enters into MoU with MAHAGENCO

Rural Electrification Corporation Limited has said that it has entered into a Memorandum of Understanding (MoU) with Maharashtra State Power Generation Company Limited (MAHAGENCO) for extending financial assistance to the tune of Rs. 13,000 crore and for providing required services.

The above MoU is non-binding in nature and the financial assistance is subject to appraisal of the prop