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

Concerns over lower tariff inconsistent with policy: Telecom regulator

The telecom regulator said on Thursday that the Telecom Commission's contention that reduced tariffs by telecom service providers (TSP) is leading to reduced revenues for the government and poor health of the sector may be inconsistent with the principles of public policy.

In response to a letter by the panel, the Telecom Regulatory Authority of India (TRAI) said the economic purp

HCL to set up IT, training centres in Andhra Pradesh

Information Technology giant HCL on Thursday signed a MoU with Andhra Pradesh to set up IT and training centres in Vijayawada and Amaravati.

HCL will invest Rs 500 crore in 10 years in the projects.

The company signed the Memorandum of Understanding with the state government at a ceremony here in the presence of Chief Minister N. Chandrababu Naidu and HCL chairman and founde

NPCI-Reliance Retail launch in-store UPI payment facility

The National Payments Corporation of India (NPCI) and the Reliance Retail announced launch of a new in-store payment solution that will enable customer payments through Unified Payments Interface (UPI) platforms, a statement said here on Thursday.

This integration will provide a convenient and seamless payment experience to Reliance Retail customers and will be an added avenue for dig

Sensex falls on profit-taking; set for best quarter in nearly three years

By Aby Jose Koilparambil

Indian shares fell on Friday as investors booked profits in recent outperformers, but were poised for a third straight gain on month fuelled by a crucial victory for India's ruling party in a key state election and big foreign inflows into markets.

The Nifty was down 0.2 percent at 9,153.35 as of 0618 GMT, while the benchmark Sensex was 0.3 perce

India seeks ways to revive state steel giant after damning report

By Neha Dasgupta

NEW DELHI  - India has set up an expert panel to help revive its loss-making state steel maker after a government review found the company to be far less efficient than its rivals despite spending more than $10 billion in the past eight years.

A review document, containing previously undisclosed data and seen by Reuters, criticises Stee

India privately took Amazon to task over insulting flag doormat

By Aditya Kalra

NEW DELHI - India's reaction to an Amazon.com website selling doormats resembling the country's flag involved an unprecedented public and private offensive against the U.S. company by Prime Minister Narendra Modi's government, a document shows.

Foreign minister Sushma Swaraj publicly threatened in January to rescind visas of Amazo

Soaring mercury take stocks of AC, fan firms to 52 wk high

A rise in sales of home appliances like air conditioners and fans due to soaring summer temperatures across western and northern India has led to a sharp increase in the S&P BSE consumer durables and capital goods indices, which touched their 52-week high levels on Thursday.

The consumer durables touched a new 52-week high of 15,132.34 points, while the capital goods index surged

Indian equities close higher on derivatives expiry day

Indian equity markets on Thursday provisionally closed the day's trade in the green for the third consecutive session, although volatility was witnessed on the day of the March 2017 derivatives contract expiry.

The key indices provisionally closed in the green on the back of a strong rupee and healthy buying witnessed in consumer durables, banking and capital goods stocks.

Moody`s assigns Baa3 to SBI's USD note drawdown

Moody's Investors Service, a global rating agency, has assigned a Baa3 rating to State Bank of India's proposed USD denominated senior unsecured notes, issued under its USD 10 billion Medium-Term Note (MTN) program. The drawdown will be carried out from its London branch, and the bonds will be listed on the Singapore Stock Exchange. The outlook on the ratings, where applicable, is posit

Bharti Airtel`s ratings unaffected by stake sale in telecom arm: Moody`s

Moody's Investors Service, a global rating aganecy, has said that Bharti Airtel's announcement on 28 March, that it successfully completed the secondary sale of over 191million shares, or 10.3 per cent, of its subsidiary, Bharti Infratel, to a consortium of funds advised by KKR and the Canada Pension Plan Investment Board for a total of around INR 61.9 billion (approximately $951.6 mill

VMware expands partnership with Samsung

Cloud services provider VMware on Thursday expanded partnership with Samsung to deliver a next generation unified mobile and desktop experience through Workspace ONE offering.

Integration between VMware Horizon and Samsung Desktop Experience (DeX) will enable end-users to dock a Samsung Galaxy S8 smartphone and deliver to the device full Windows desktops and applications. 

Microsoft to roll out Creators Update on April 11

Microsoft has announced that the next major update to Windows 10 -- the Windows 10 Creators Update -- will begin rolling out to the 400 million monthly active devices worldwide on April 11.

The company will also launch Surface Book and Surface Studio devices in new markets soon.

Surface Book and Surface Studio are available for pre-order in new markets, including Britain, Au