Castrol India's Q4 net profit up 11%

 Automotive and industrial lubricant manufacturer Castrol India on Tuesday reported a rise of 10.7 per cent in its net profit for the quarter ended December 31, 2016.

The company informed the BSE that its net profit during the quarter under review increased to Rs 155.8 crore from Rs 140.8 crore. 

On the contrary, the automotive and industrial lubricant manufacturer

Tata Steel Kalinganagar hot metal production crosses 2 MT mark

Tata Steel Kalinganagar, the largest greenfield steel plant in Odisha said that hot metal production at its blast furnace crossed 2 million tonne on February 19. The plant, which boasts of the largest operating blast furnace of the country with 4,330 cubic metre capacity, was blown in on February 28 last year.

The blast furnace achieved the first million tonne production of hot metal

IDBI Bank to divest non-core investments

The Board of Directors of IDBI Bank on Tuesday approved sale of the bank's non-core investments.

In a regulatory filing in BSE, the bank said its Board has approved in-principle a proposal to divest some of its non-core investments subject to compliance with all applicable laws and regulations and subject to final approval to be obtained for each transaction by Delegated Authority

Tata Sons' new chairman to focus on shareholder returns, capital allocation

NEW DELHI  - Tata Sons, the holding company of the $100-billion Tata group, will focus on boosting shareholder returns and tightening capital allocation rules, newly-appointed chairman Natarajan Chandrasekaran said in a statement on Tuesday.

Chandrasekaran, widely known as Chandra, took over as chairman on Tuesday, months after the firm ousted predecessor Cyrus M

Reliance Jio racks up 100 million subscribers but ends freebies

By Sankalp Phartiyal and Devidutta Tripathy

MUMBAI - Reliance Industries' Jio telecoms unit will charge for its services from April, ending an almost seven month spree of free calls and data that shook up India's telecoms sector and helped the new arrival rack up more than 100 million users.

The shift to paid services, even at a sharp discount t

Fresh buying support lifts Indian equities

Indian equities markets on Tuesday provisionally closed in the green to touch new 2017 highs, as healthy buying was witnessed in consumer durables, banking and oil and gas stocks.

Besides, announcement of major buy back of shares by an IT major buoyed investors' sentiments. 

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 22.75 points or 0.

Maruti Suzuki India sets up 4th water ATM in Manesar

Maruti Suzuki India (MSI) said it has inaugurated its fourth drinking water project at Bas Hariya village, Manesar, reported PTI. The water ATM set up by the car maker has a capacity to generate 1,000 litres of purified water per hour. "With this fourth community drinking water plant in Manesar, the company will be generating and supplying a total of 96,000 litres of pure drinking water, b

Reliance Jio to offer discounted prices to customers from April 1

MUMBAI - Reliance Industries'  Jio telecoms unit will start charging customers from April 1, but will offer sharply discounted prices for a year to those who sign up by the end of March, Chairman Mukesh Ambani said on Tuesday.

Customers who sign up by March 31 will be able to use unlimited data and voice services for a year at 303 rupees ($4.52) a month under

Mukesh Ambani expected to say Reliance Jio hit 100 million subscribers - source

MUMBAI  - India's richest man Mukesh Ambani is likely to announce on Tuesday that Reliance Industries' has reached its targeted 100 million subscribers on its Jio telecom unit, a source familiar with the matter said.

Ambani could also make additional announcements, the source added without giving details, when he starts speaking at 1330 India time (0800 GMT). The speech w

Infosys refutes whistleblower's charges on Panaya deal

Global software major Infosys on Monday refuted charges by an anonymous whistleblower, who alleged that its executives had personal interests in buying the US-based Panaya firm for $200 million in February 2015.

"We refute the allegations made in the anonymous whistleblower letter. The assertions are libellous and aimed at tarnishing the company's image and its management,&qu

Maruti Suzuki's hybrid vehicles' sales soar

 Automobile major Maruti Suzuki India on Monday said its smart hybrid vehicles (SHVs) have crossed cumulative sales of 100,000 units this month.

The company offers the smart hybrid options in its sedan Ciaz and MPV (multi-purpose vehicle) Ertiga.

"Both Ciaz SHVS and Ertiga SHVS are high on fuel efficiency, come with reduced running costs and lower levels of CO2 (ca

Ambuja Cement's standalone Q4 net profit up 60%

 Cement major Ambuja Cement on Monday reported a rise of 60 per cent in its standalone net profit for the quarter ended December 31, 2016.

The company informed the BSE, that its net profit during the quarter under review increased to Rs 175.88 crore from Rs 109.96 crore. 

On the contrary, the company reported a decline of 6.64 per cent in its standalone total incom

Tata Sons boss Chandrasekaran is TCS Chairman too

Global software major Tata Consultancy Services (TCS) Ltd on Monday announced that Tata Sons Chairman Natarajan Chandrasekaran will also be its non-executive Chairman from Tuesday.

"Tata Sons Ltd has nominated N. Chandrasekaran as the Chairman of the Board of Directors of the company in place of Ishaat Hussain from February 21," said TCS in a regulatory filing to the BSE.

Ashok Leyland expects carry-forward inventory after launch of BS-IV stage

Ahead of the mandatory introduction of environment friendly Bharat Stage-IV emission standard, automobile major Ashok Leyland on Monday said that there will be "carry-forward inventory" as on March 31, 2017.

"There will definitely be carry-forward inventory on March 31 in the pipeline -- whether its the company or with the dealers. So some time needs to be given to liqu

Key Indian equity indices trade higher in early session

Key Indian equity market indices opened in the green on Tuesday following global cues.

The 30-scrip Sensitive Index (Sensex) was trading 11.00 points or 0.04 per cent higher during the early session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 11.55 points or 0.13 per cent higher at 8,890.75 points.

The BSE Sensex, which opened at

Reliance's Jio hails Uber ride in payments battle with PayTM

MUMBAI - Uber users in India, who until now had Chinese Internet giant Alibaba-backed PayTM as the only payment wallet option available to book a ride, will now be able to pay through Reliance Jio Infocomm's Jio Money.

Reliance said on Monday it had struck a partnership with Uber Technologies Inc which will help it challenge PayTM's dominance in digital payments.

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Goldman unit launches up to $82 million block deal in Max Financial - terms

MUMBAI  - A unit of Goldman Sachs has launched a block deal to sell up to $82.1 million worth of shares in Max Financial Services Ltd with an upsize option of $41.1 million, a deal term sheet showed on Monday.

The unit, GS Mace Holdings Ltd, is selling up to 10 million shares in Max Financial at a floor price of 550 rupees ($8.22) per share, according to the term

India extends anti-dumping duty on some Chinese steel items by 5 yrs

NEW DELHI - India has extended anti-dumping duty on some steel products from China by five years, in a bid to retain protectionist barriers and stem the tide of cheap foreign products.

The long-term measure, on the import of seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel, stands effective as of May 17 last year when the government had impo

India looks to expand energy ties with Myanmar

By Nidhi Verma

NEW DELHI - India plans to sell refined crude oil products to Myanmar as part of New Delhi's efforts to deepen ties with its eastern neighbour, which is expected to see strong demand for fuels as it builds new roads, factories, utilities and airports.

Indian oil minister Dharmendra Pradhan began a five-day trip to Myanmar on Monday, scouti

Eveready plans to reorganise its packet tea business

In order to provide "sharper focus" to packet tea business, Eveready Industries India Ltd has planned to reorganise its operation, a company official said on Monday.

In a board meeting on Monday, the company approved the move subject to the finalisation of a suitable modality for the same.

The board authorised the firm's Managing Director Amritanshu Khaitan to

SBI rebrands its corporate website

Public-sector lender, State Bank of India said that it has rebranded its corporate website as 'bank.Sbi' from earlier sbi.Co.In. 'bank.Sbi' is the highest domain protocol, known as generic Top Level Domain (gTLD), which enables an organisation to use its corporate name as their website's top-level identifier, instead of using a more traditional '.Com' or '.Co.In&

NTPC to train discom officials to make IPDS more effective

NTPC's Power Management Institute will soon impart training to state discom staff across the country for capacity building under the Integrated Power Development Scheme (IPDS), reported PTI. The IPDS' objective is 24x7 power supply for consumers and reduction of AT&C losses.

The Budget 2017 has provided Rs 5,821.22 crore under IPDS for the next fiscal against revised estim

Punj Lloyd wins order worth Rs 348 cr

Punj Lloyd said that it has bagged two orders worth Rs 348 crore in its vertical Pipelines and Tankages. The company has bagged first contract from Mundhra LPG Terminal for EPCC (design, engineering, construction and commissioning) of refrigerated double wall storage tanks and mounded bullets for its LPG Terminal at Mundra, worth Rs 139 crore.

The second contract is form Mumbai Port T

India offers to share its telecom expertise with Asean

India on Monday offered to share its expertise with Asean's member-countries in the development of their telecom and digital connectivity sectors.

"We look forward to being your preferred partner in your digital connectivity initiatives. I can assure you, we will do whatever is required, for Indian products and services to become the first choice for your telecom needs,"

Sensex gains; TCS rallies on buyback announcement

Indian shares rose around 0.7 percent on Monday, erasing earlier losses to hit their highest close since September as IT stocks rallied after Tata Consultancy Services announced a share buyback at a substantial premium.

TCS rose about 4 percent after saying its board approved a share buyback of up 160 billion rupees ($2.39 billion) at 2,850 rupees apiece, well above its closing price