Tata Power`s arm sells stake in Nelito

Tata Power has said in a filing to the Bombay Stock Exchange that NELCO and Af-Taab, subsidiaries of the company, along with other shareholders of Nelito have entered into an agreement for sale of shares of Nelito to DTS Corporation, Japan. NELCO Limited (NELCO), a subsidiary of the Company and Af-Taab Investment Company Limited (Af-Taab), a wholly owned subsidiary of the Company, both together

JSW Steel keen to snap up troubled steel cos for expansion

JSW Steel is keen to capitalise on the stress in the sector by acquiring distressed alloy companies so that it can expand its capacity faster, a top official said as per the PTI report. "We are looking at distressed companies for acquisition," JSW Steel Chairman Sajjan Jindal told a select group of mediapersons at an event here to commission the group's port project over the weeke

India's Motherson Sumi buys Finland's PKC Group for $619 million

Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland's PKC Group for 571 million euros ($619.4 million).

Motherson is now the controlling shareholder of PKC Group, holding 93.75 percent of PKC's outstanding shares and stock options. (http://bit.ly/2nYp6nk)

"There is a great synergy between MSSL & PKC

Indian equities subdued on negative global cues

Negative global cues subdued the Indian equity markets during the mid-afternoon trade session on Monday.

The global markets were spooked as US President Donald Trump's failure to overturn his predecessor's healthcare reforms increased concerns over his ability to implement economic policies.

Following this, the US futures markets and the dollar, as well as the Asian

Derivatives expiry to infuse volatility in equity markets

 Indian equity markets are expected to witness volatility on the back of derivatives expiry during the upcoming trading week starting March 27.

"Volatility in the stock markets is expected to be high as traders roll over positions in the futures and options (F&O) segment from the near month March 2017 series to April 2017 series. The near month March 2017 derivatives con

Equities trim gains on global cues, profit booking

After two consecutive weeks of gains, the key Indian equity indices trimmed some gains following global cues and closed the week's trade on a lower note.

Yet, continuous inflows of foreign funds and a strong rupee prevented the Indian equity markets from slipping further.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE slipped by 227.59 points or 0.77 per cent

HDFC raises Rs 3,300 cr through Masala Bonds

 The Housing Development Finance Corporation Ltd (HDFC) on Friday announced it had raised Rs 3,300 crore ($504 million) through rupee denominated bonds from overseas investors (Masala Bonds) under its $750-million Medium Term Note programme.

"We have received an overwhelming response from 29 investors across Asia and Europe. The aggregate demand for the transaction was

Tata Motors to raise up to Rs 500 cr via NCDs

Automobile major Tata Motors on Friday said it would raise up to Rs 500 crore by issuing non-convertible debentures.

"...we hereby inform that a meeting of the duly authorised committee was held today (Friday)....approving offering of subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, 7.84 per cent coupon, redeemable, non convertible debentures of f

Cochin Shipyard files IPO prospectus with regulator

State-run Cochin Shipyard Ltd on Friday filed its Draft Red Herring Prospectus with market regulator SEBI for its Initial Public Offering (IPO) of 3.3-crore equity shares of Rs 10 face value.

"The IPO comprises of 33,984,000 shares, including fresh issue of 22,656,000 shares and offer for sale of 11,328,000 shares," said the city-based largest shipyard in dock capacity in a

Bharat Forge divests 23% stake in Alstom

Indian multinational Bharat Forge on Friday announced divesting 23 per cent of its equity stake in the power equipment joint venture (JV) with French multinational Alstom.

"The company has divested 23 per cent of its shareholding in power equipment JV with GE (erstwhile Alstom)-Alstom Bharat Forge Power Ltd (ABFPL)," said the city-based manufacturing behemoth in a regulatory

Reliance Capital restructures its commercial finance arm

Reliance Capital, a part of Anil Ambani-led Reliance Group, on Friday said it has completed the transfer of its commercial finance division -- Reliance Commercial Finance Ltd. (RCFL) -- into a separate wholly-owned subsidiary as part of its restructuring process.

RCFL is amongst the leading SME (Small and Medium-sized Enterprise) lenders in the Indian non-banking finance space with a

Volvo to increase car prices by 2.5% in April

Luxury car manufacturer Volvo Auto India (VAI) on Friday said the prices (ex-showroom) of all models across its range of cars will see an upward revision by over two per cent, effective from April 2017.

"All the models will undergo an upward revision in their ex-showroom prices by up to 2.5 per cent," a company statement said.

"The increase is due to rise in i

Powergrid commissions 800 kV transmission line in Chhattisgarh

Powegrid Corp on Friday started the commercial operation of its 800 kilovolt (kV) HVDC Champa-Kurukshetra Pole I project, the state-run electricity transmission company announced here.

"This project will enable transfer of power from Independent Power Producers (IPPs) generation projects coming up in Raigarh generation complex in Chhattisgarh to demand centres of Northern region

India's market regulator accuses Reliance of wrongful share trading

By Rafael Nam and Devidutta Tripathy

MUMBAI  - India's market regulator accused Reliance Industries  on Friday of having committed a "fraud" in taking a short trading position at the time of selling a stake in a subsidiary in 2007, ordering it to surrender 4.5 billion rupees ($69 million) plus interest in "unlawful gains".


Honda Cars expects positive growth in 2017-18

Honda Cars India Limited (HCIL) is expecting to complete the current financial year ending this month with a "negative growth" over last year, but is hopeful to achieve a positive growth in sales in 2017-18, a company official said on Friday.

"In the last financial year (2015-16), we sold 1.92 lakh units with a growth of about two per cent over the year earlier. This ye

Eicher introduces AMT tech in commercial vehicles

Eicher Trucks & Buses, part of VE Commercial Vehicles (VECV), has introduced automated manual transmission (AMT) technology in commercial vehicles, reported PTI. The AMT technology will be available in the company's complete range of buses -- from 9 tonnes to 16 tonnes -- and also in the medium duty haulage truck application in the first phase and will be extended to other applications

Indian basket of crude oils goes below $50 a barre

The Indian basket of crude oils went below the psychological $50-a-barrel-mark this week as global prices fell on the back of a supply glut from rising US crude inventories, offsetting some of the output cut efforts from the Organisation of the Petroleum Exporting Countries (OPEC).

As per available data, the Indian basket, comprising 73 per cent sour-grade Dubai and Oman crudes, and t

Ind-Ra downgrades Tata Power Trading Co’s outlook to negative

India Ratings and Research (Ind-Ra), a leading rating agency, has revised Tata Power Trading Company Limited’s (TPTCL) outlook to negative from stable while affirming its long-term issuer rating at ‘IND A’. “The negative outlook reflects the increase in losses from Dagachu Hydro Power Limited (DHPL) to INR332 million in 9MFY17 (9MFY16: INR172 million, FY16: INR 176 milli

Indian Bank eyeing retailing sector for growth

Indian Bank today opened a branch in Kovaipudur in the city, taking the number to 88 in Coimbatore zone, comprising four districts, reported PTI. The bank is cashing in on its brand name to further retail business in the area despite the presence of large number of banks, Bank Zonal Manager A Ganesaraman told reporters.

The Zone has Rs.3,000 crore worth retail portfolio in the distric

Tata Motors to raise up to Rs 500 crore via NCDs

Tata Motors will raise up to Rs 500 crore via issuance of non-convertible debentures (NCDs) on a private placement basis, said the media reports. "A meeting of duly authorised committee was held today approving offering for subscription on a private placement basis, up to 5,000 rated, listed, unsecured, 7.84 per cent coupon, redeemable, non-convertible debentures aggregating up to Rs 500 c

Carlyle Group takes minority stake in logistics firm Delhivery

NEW DELHI - The Carlyle Group  has acquired a minority stake in Indian logistics firm Delhivery, while existing investor hedge fund Tiger Global also raised its stake, for a combined investment of more than $100 million, the buyout fund said on Friday.

The investment comes amid expectations India's logistics sector is set to expand strongly as the country unv

NTPC starts 3 units; beats 12th Plan target by adding 12.84GW

State-owned electricity generater NTPC Ltd on Thursday said it has commissioned three units of different projects namely 20 MW unit of Bhadla solar power project, unit-2 of 250 MW Bongaigaon thermal power project, and unit-2 of 800 MW Kudgi super thermal power station respectively. In a filing to the Bombay Stock Exchange, the company said, “20 MW of Bhadla solar power project has been co

Sensex rises for second day as Jaitley's comment boosts lenders

By Aby Jose Koilparambil

Indian shares rose for a second consecutive session as lenders such as State Bank of India  rallied after Finance Minister Arun Jaitley said the government would soon announce new measures to tackle non-performing assets (NPAs).

The government and the Reserve Bank of India would announce the measures in "a couple of days", Jaitley said

Infosys, Tech Mahindra, TCS bag top awards by Hyderabad IT body

Infosys, Tech Mahindra and Tata Consultancy Services bagged top IT exporter awards by the Hyderabad Software Enterprises Association (HYSEA).

The apex body of more than 300 IT, ITeS companies on Thursday held 25th Annual HYSEA Summit and Software Product Awards.

Microsoft was adjudged as the top MNC IT exporter and Google the fastest growing IT company.

Amit Sharma

Reliance Infrastructure Ltd lowest bidder in TN road project

Anil Ambani-led Reliance Infrastructure Ltd has emerged as the lowest bidder for developing the national highway project in Tamil Nadu, sources said on Thursday.

According to people in the know, Reliance Infrastructure was the lowest bidder for the National Highway NH-45C for four-laning of about 66-km stretch between Vikkravandi to Pinalur-Sethiyahopu section in Tamil Nadu.