Indian factory activity expands for fourth month in April - PMI

BENGALURU - Indian manufacturing activity expanded for a fourth consecutive month in April, helped by stronger growth in new orders although rises in output and employment slowed, a business survey showed on Tuesday.

The Nikkei/Markit Manufacturing Purchasing Managers' Index, compiled by IHS Markit, held steady at March's 52.5 last month, its fourth month abov

Indian equities trade flat, Sensex below 30,000-mark

Indian equity markets traded on a flat note during the mid-afternoon trade session on Tuesday on the back of mixed global cues and heavy selling pressure in healthcare and capital goods stocks.

The barometer 30-scrip BSE Sensitive index (Sensex) and the wider NSE Nifty both slipped below their psychologically important 30,000-mark and 9,300-mark during the intra-day trade.


Infosys plans to hire 10,000 U.S. workers after Trump targets outsourcing firms

SAN FRANCISCO/MUMBAI  - India-based IT services firm Infosys Ltd said it plans to hire 10,000 U.S. workers in the next two years and open four technology centers in the United States, starting with a center this August in Indiana, the home state of U.S. Vice President Mike Pence.

The move comes at a time when Infosys and some of its Indian peers such as Tata Cons

Tata Motors' sales decline 21% in April

 Automobile major Tata Motors on Monday reported a 21 per cent decline in its total sales, including exports, of passenger and commercial vehicles during April 2017.

According to the company, the total sales, including exports, of passenger and commercial vehicles of the company stood at 30,972 units -- down 21 per cent -- from 39,389 vehicles sold during April 2016.


Hyundai sales grew 3.6% in April

Hyundai Motor India Ltd on Monday reported 3.6 per cent growth in sales to 56,368 units in April as compared to 54,420 units sold in the same month in 2016.

Out of the total sales in April, its domestic sales stood at 44,758 units, up 5.7 per cent from 42,351 units sold in the corresponding month of the last financial year.

"Hyundai with volume of 44,758 units continued

Maruti Suzuki's April sales up 19.5%

 Automobile major Maruti Suzuki India on Monday reported a surge of 19.5 per cent in April sales.

The sales during the month rose to 151,215 units from 126,569 units in the corresponding month in 2016.

For April, domestic sales edged by 23.4 per cent to 144,492 units from 117,045 units.

However, exports of the automobile major declined by 29.4 per cent, with 6

Global cues, Q4 results to chart course of equity indices

Global cues, especially the upcoming US Federal Reserve's rate-setting meet, are likely to chart the course of major domestic equity indices during the week starting May 2, 2017.

"US Fed speeches, FOMC (Federal Open Market Committee) rate decision and jobs data shall mean that US equities' moves would be in focus next week," Anand James, Chief Market Strategist of Ge

Indian markets closed on Monday for public holiday

MUMBAI - India's markets are closed on Monday for a public holiday. Trading will resume on Tuesday.

On Friday, the benchmark BSE Sensex index fell 0.37 percent to 29,918.40, while the broader NSE Nifty index lost 0.41 percent to 9,304.05.

The rupee closed at 64.24/25 compared to its 64.15/16 close on Thursday.

The benchmark 10-year bond yield r

Analysis - Global pension funds warm to India's solar power ambitions

By Devidutta Tripathy and Sudarshan Varadhan

MUMBAI/NEW DELHI - Some of the world's biggest pension funds, seeking long-term returns on green investments, are scouting for deals in India's solar power sector, where Prime Minister Narendra Modi is targeting $100 billion in investment in the next five years.

Power demand in Asia's third-largest ec

Smartphone shipments in India grew 15% in Q1 2017

Smartphone shipments in India registered a growth of 15 per cent annually in the first quarter of 2017, reaching 29 million units, a report said on Saturday.

According to findings by market research firm Counterpoint, Samsung continued to retain the top spot, followed by Xiaomi. Vivo, OPPO and Lenovo (that also includes Motorola) occupied the other three spots.

Together, all

Samsung regains top spot in Q1 smartphone market

South Korean giant Samsung Electronics regained the top status in the global smartphone market in the first quarter of the year, even before the release of its flagship Galaxy S8, a report said on Saturday.

According to market research firm IDC, the South Korean tech giant sold about 7.9 million smartphones during the January-March period to account for a market share of 22.8 per

Ambuja Cements net profit jumps 357%

Ambuja Cements Ltd, a part of the global conglomerate LafargeHolcim, on Friday reported a 357 per cent increase in its standalone net profit to Rs 247 crore for the quarter ended March 31, 2017 as compared to Rs 54 crore in the corresponding period of previous financial year.

The jump in net profit was attributed to sharp reduction in depreciation and amortisation expense along tax ex

Ujjivan Small Finance Bank aims Rs 2,500 cr deposits in 2017-18

Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18.

In a view to serving unbanked people, the small finance bank, which commenced its operation two months ago, plans to open 30 branches soon and 171 by end of this financial year.

"We target to mobilis

Kotak Mahindra to buy out Old Mutual stake in Kotak Life

Kotak Mahindra Bank on Friday said it has entered into an agreement to purchase the entire 26 per cent equity held by Old Mutual plc, UK, in Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life) for Rs 1,292.7 crore.

In a statement issued here, Kotak Mahindra Bank said it will buy out the stakes in line with its philosophy to deepen and expand in Indian financial services sector.<

IDFC's Q4 net profit up 4%

IDFC on Friday reported a rise of 3.84 per cent in its consolidated net profit for the fourth quarter of 2016-17.

The company's profit after tax stood at Rs 135 crore as compared to Rs 130 crore in the corresponding quarter of the previous fiscal.

According to the company, the total operating income stood at Rs 731 crore -- up 4.88 per cent -- from Rs 697 crore earned in

Global med-tech firms, India locked in tussle after stent price sting

NEW DELHI/MUMBAI - A group of global medical-technology companies plans to tell Indian officials next month that any further price control measures would risk future investments and make them less likely to introduce new products in the country, according to an industry source familiar with the matter.

The lobbying effort by Abbott Laboratories, Boston Scientific, Joh

Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive.

The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the son o

Ambuja Cements first-quarter profit jumps four fold on higher sales volume

India's Ambuja Cements, part of global conglomerate LafargeHolcim Ltd, on Friday reported an over four-fold surge in first-quarter net profit, as higher cement sales volume and favourable pricing offset rising costs.

Net profit jumped to 2.47 billion rupees ($38.41 million) in the quarter ended March 31, from 535.1 million rupees in the year-ago period, the cement major said. (htt

Federal Bank aims 3.25 percent net interest margin, growth across segments

MUMBAI  - Federal Bank , a mid-sized private sector lender, is targeting a net interest margin of 3.25 percent in the fiscal year that began in April by focusing on growing its books, improving loan recovery and deposit portfolio, its chief executive officer said.

The bank's net interest margin improved to 3.42 percent in the January-March quarter from 3.31 p

Sensex ends lower; posts biggest weekly gain in six

Indian shares ended lower on Friday, retreating from record highs hit this week as investors booked profits ahead of a long weekend, but indexes still posted their biggest weekly gain in six.

The benchmark BSE Sensex ended 0.37 percent lower at 29,918.40, but gained 1.88 percent for the week. The broader NSE Nifty closed down 0.41 percent at 9,304.05, but was up 2 percent for the week

Delhi High Court approves $1.18 billion settlement of Tata-DoCoMo dispute - TV


The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo , allowing the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture, TV news channels reported on Friday.

India's central bank had blocked Tata's offer, saying a rule change in 2016 prevented foreign i

Bank of Maharashtra plans to raise up to Rs 2000 cr

Public-sector lender, Bank of Maharashtra said that is planning to raise equity capital through FPO/Rights issue/QIP etc, up to Rs 2000 crore, subject to the necessary approvals. “The Board of Bank in its meeting to be held on 04th May, 2017 at Pune interalia will consider the proposal of raising of equity capital through FPO/Rights issue/QIP etc., upto Rs.2,000/- crore at an appropriate

CEAT Q4 cons net dips 32.5% at Rs 66 cr

CEAT, a flagship company of the RPG Group, on Friday reported a 32.5 per cent decline in its consolidated net profit at Rs 66 crore for the fourth quarter ended March 31, 2017. The company had posted consolidated net profit of Rs 98 crore during the same quarter last year,” said CEAT in a filing to Bombay Stock Exchange.

The consolidated net sales of company rose by 5.2 per cent

Indiabulls Real Estate Q4 net rises 18.8% at Rs 79.81 cr

Indiabulls Real Estate Ltd reported a growth of 18.8 per cent in it’s consolidated net profit after taxes (PAT) at Rs 79.81 crore for the fourth quarter ended March 31, 2017. The consolidated PAT of the company stood at Rs 67.16 crore during the corresponding period a year ago, Indiabulls Real Estate Ltd said in a regulatory filing to the BSE.

However, its consolidated total inc

Jindal Stainless plans to raise up to Rs 600 cr via NCDs

Jindal Stainless said that it is planning to raise up to Rs 600 crore via non-convertible debentures (NCDs) on private placement basis. The company said in a BSE filing today that its board "approved the proposal" for issuance of NCDs, subject to the approval of the shareholders, for "an aggregate amount of up to Rs 600 crore, in one or more tranches, on a private placement basis