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.

Tata Consultancy says plans to step up local hiring in U.S.

By Elias Glenn

BOAO, China - India's top software services exporter Tata Consultancy Services will step up local hiring in the United States and has no plans to cut investments there as it continues to expect robust growth from its biggest overseas market.

"In the last four or five years, we have been recruiting heavily in the U.S.," Girish Ram

Yes Bank launches up to $750 million share sale - term sheet

MUMBAI - Yes Bank Ltd, India's fifth-biggest private sector lender by assets, has launched a share sale to institutions to raise as much as $750 million, according to a deal term sheet seen by Reuters.

The base size of the sale of new shares is $650 million and the bank has an option to increase it to $750 million, the term sheet showed.

The shares are b

Analysis: Uber reviews India leasing scheme as driver incomes drop - sources

By Aditi Shah

NEW DELHI  - Global ride-hailing firm Uber Technologies is rethinking its car leasing strategy in India, its second-biggest market, as drivers have returned dozens of leased cars early after the company cut incentives, people familiar with the matter told Reuters.

Uber had planned to buy 15,000 new cars last year and lease them out in a bi

Snapdeal searches for funds, takeover speculation grows

HONG KONG/MUMBAI - Indian online retailer Snapdeal is seeking investment to shore up its finances after unsuccessful talks with Chinese funds and Alibaba Group Holding Ltd as it battles to remain competitive, sources with direct knowledge of the matter said.

Faced with the prospect of falling cash reserves and little interest from existing investors such as Japan'

Airtel to acquire Tikona's 4G business for Rs 1,600 crore

Bharti Airtel on Thursday announced an agreement with Tikona Digital Networks to acquire the latter's 4G business, including the Broadband Wireless Access (BWA) spectrum and 350 sites, in five telecom circles for around Rs 1,600 crore.

However, the acquisition is subject to requisite regulatory approvals.

"Tikona currently has 20 MHz spectrum in the 2,300 MHz band i

BSE raises over Rs 2 lakh crore on bond platform

Stock market major BSE on Thursday reported that with HDFC and IREDA raising Rs 1,498 crore and Rs 200 crore worth of debt capital on Wednesday, it has raised a total of Rs 200,111 crore via its bond issuance platform.

"BSE's platform for bond issuances crossed the Rs 2 lakh crore-mark of fund, raising through debt securities by corporates in India," the stock exchange m

Delta Corp to raise Rs 750 cr via QIP

Delta Corp plans to raise up to Rs 750 crore through issue of equity shares or other securities via qualified institutional placement (QIP). The Board of Directors approved raising funds by issuing equity shares or other permissible securities through QIPs for an aggregate amount not exceeding Rs 750 crore, Delta Corp said in a BSE filing.

The company, which is into real estate, hospi

Indiabulls Housing Finance raises Rs 160 cr

Indiabulls Housing Finance said that it has raised Rs 160 crore by issuing non-convertible debentures (NCDs) on private placement basis. This is the 8th tranche of companys Rs 6,000 crore fund raising plan, which was announced last November. The current issue is a Rs 150 crore plus green shoe option of Rs 10 crore, the company said in a regulatory filing.

Yesterday, it had raised Rs 6

Indian Oil declares interim dividend of Rs 4.50 per share

State-run oil marketing company Indian Oil Corporation on Thursday said that its board has approved second interim dividend of Rs 4.50 per share (i.e.@ 45% on the paid up equity share capital) for the financial year 2016-17. “The board of Indian Oil has declared 2nd interim dividend of Rs 4.50 per share (i.e.@ 45 % on the paid up equity share capital) for the financial year 2016-17,&rdquo

Short covering lifts Indian equities

Indian equity markets were on Thursday lifted by short covering, coupled with a marginally strong rupee and healthy buying in automobile, oil and gas, and capital goods stocks.

The key indices provisionally closed with gains of more than half a per cent each and broke the streak of three consecutive sessions of losses.

The wider 51-scrip Nifty of the National Stock

BHEL commissions 250 MW unit at Bongaigaon plant in Assam

BHEL said it has commissioned a 250 MW unit at the upcoming Bongaigaon thermal power station in Assam, reported PTI. "BHEL is executing the main plant package contract for setting up three coal-fired units of 250 MW each at Bongaigaon TPS of NTPC. Significantly, this is the highest rating coal-based power plant in the North-East region," BHEL said in a statement.

The first u

National Company law tribunal approves Vedanta-Cairn merger

Oil and gas major Cairn India on Thursday said that the National Company Law Tribunal, Mumbai Bench on Thursday approved the scheme of arrangement with Vedanta, and their respective shareholders and creditors.

“The National Company Law Tribunal, Mumbai Bench, has today approved the scheme of arrangement between Vedanta Limited and Cairn India Limited, and their respective shareh

Tata Steel celebrates World Forestry Day in Jharkhand

Tata Steel observed World Forestry Day on March 21 to spread awareness about the significance of forests in human lives, reported PTI. A programme was organised on the theme "Snakes and Friends" to spread awareness about snakes and forests.

Several school students also participated in a drawing competition on the occasion. "The subject chosen by Tata Steel for the World

Dilip Buildcon emerges as lowest bidder for Rs 3.2K cr road projects

Dilip Buildcon today said it has emerged as successful bidder of Rs 3,269 crore road projects in Maharashtra, reported PTI. "The National Highways Authority of India (NHAI) has declared Dilip Buildcon Limited, Bhopal, as the successful bidder [L-1] for three projects in a single stretch in the state of Maharashtra," the company said in a filing to BSE.

The projects include 4

Reliance Infratel gets CCI nod for selling tower unit

The Competition Commission of India (CCI) has approved the proposed sale of the tower division of Reliance Infratel Limited to Brookfield Infrastructure Group, a company statement said here on Thursday.

"The Competition Commission of India has approved the proposed transaction involving the sale of the Tower Division of Reliance Infratel Limited, a subsidiary of Reliance Com

Adobe, Microsoft working together on artificial intelligence

Adobe and Microsoft are jointly working on artificial intelligence (AI) to offer better products and provide customers more automated, intelligence-based experiences, a top Adobe official said here.

Brad Rencher, Executive Vice President and General Manager, Marketing, of Adobe said the two tech giants were working on standard data models and sharing of core libraries between Adobe

Government approves Rs 1,100 cr capital infusion in IOB

Chennai-based state lender Indian Overseas Bank will get Rs 1,100 crore as "turnaround-linked capital" infusion from the government. The bank said it has received a communication from the Finance Ministry for a capital allocation of Rs 1,100 crore as part of turnaround linked capital infusion plan.

The government has approved the second tranche of capital infusion in public