Ajay Vipin Nanavati nominated as Chairman of Syndicate Bank

Ajay Vipin Nanavati has been appointed as the chairman of Syndicate Bank. The Appointments Committee of the Cabinet has approved his appointment as Non-Official Director/Non-Executive Chairman in Syndicate Bank for three years, according to an order issued by the Department of Personnel and Training. In 2015, the government had bifurcated the posts of chairman and managing directors in public s

Chambal Fertilisers delivers ship to Sempreviva Shipping

Chambal Fertilisers & Chemicals said that it has delivered the ship ‘Ratna Shradha’ to Sempreviva shipping, Malta on August 21, 2017. “Pursuance of the Memorandum of Agreement dated May 20, 2017, the Company has delivered the ship - Ratna Shradha to the Buyer on August 21, 2017,” it said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the company were

Dr Reddy`s Lab`s arm out licenses DFD-06 to Encore

Leading pharma major, Dr Reddy’s Laboratories Ltd has said that its wholly-owned subsidiary Promius Pharma has out-licensed the future development, manufacturing, and commercialisation rights of DFD-06, a topical high potency steroid, to Encore Dermatology Inc. The drug is intended to be used for the treatment of moderate to severe plaque psoriasis.

Under the terms of the agreem

NHPC to raise Rs 2,000 cr via bonds

State-run hydro power giant NHPC said that it will seek shareholders' approval to raise Rs 2,000 crore via issuance of non-convertible debentures on private placement basis at its AGM on September 27. The special resolution proposes to authorise board to raise Rs 2,000 crore via the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures/bonds,

Sun Pharma reports first-quarter loss as generics business suffers

By Zeba Siddiqui

India's largest drugmaker Sun Pharmaceutical Industries Ltd posted a surprise quarterly loss on Friday due to one-off legal costs and pressure over prices in its largest market, the United States, casting a shadow over its growth prospects.

Sun is the latest maker of generic drugs to report poor sales as uncertainty grows in the global market for copycat

Global cues, value buying lift equity indices

Positive global cues and value buying lifted the key Indian equity indices -- the NSE Nifty 50 and the BSE Sensex - higher during the mid-afternoon trade on Tuesday.

According to market observers, positive Asian markets and "an initial spurt of value buying" enhanced the risk-taking appetite of investors.

Healthy buying was witnessed in pharma stocks with Dr. Reddy

Rollatainers Ltd posts Q1 net profit of Rs 1.37 cr

The company reported standalone net profit during the quarter stood at Rs 1.37 crore compared to net loss of Rs 0.39 crore in the previous year quarter. Net revenue of the company rose three fold by 914.17 per cent at Rs 12.88 crore in April-June quarter of this fiscal as against Rs 1.27 crore in the corresponding period last year.

During April-June quarter, operating expenses increas

Tata Motors announces new corporate brand identity

Tata Motors has always kept customers and their aspirations at the heart of its business. The company has always been at the forefront to create innovative mobility solutions, across passenger, commercial and defence vehicles, thereby creating new benchmarks in the industry. As a powerhouse of strong talent, manufacturing footprint and R&D centres across the globe, Tata Motors has an overar

Lupin receives EIR from USFDA for Aurangabad facility

Pharma Major Lupin Limited has said that it has received notification that the inspection carried out by the US FDA in April 2017 at its Aurangabad facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding US FDA inspections at Lupin’s Aurangabad facility. Lupin is an innovation led transnational pharmaceutical company developin

NTPC to seek shareholders` approval to raise Rs 15,000 cr

Power utility major NTPC on Monday said that it plans to seek shareholders approval to raise Rs 15,000 crore through the issue of bonds, debentures on private placement basis.

"Approval of the shareholders of the company is being sought to authorise the Board of Directors to make offer(s) or invitation(s) to subscribe to the secured, unsecured, redeemable, taxable, tax-free, cumu

Tata Motors CEO says to invest $625 million to boost sales

MUMBAI  - Tata Motors will invest more than 40 billion rupees ($625 million) to boost sales of its passenger and commercial vehicles, its chief executive said on Monday, as the Indian automaker looks to return to profit in its domestic business.

The company has committed to invest 25 billion rupees in its car unit and will pump more than 15 billion rupees into it

Infosys shares extend losses as leadership issues outweigh share buyback

MUMBAI - A planned $2 billion share buyback by Infosys failed to lift shares in India's No. 2 IT services company, which dropped on Monday for a second straight trading day on concerns over a dispute between its board and founders.

Infosys shares fell 5.4 percent to a more than three-year closing low, extending Friday's 9.6 percent decline. The declines have w

BSE to delist 200 companies from its platform

Stock exchange major BSE on Monday said that it will delist 200 firms from its platform from August 23.

According to the BSE, stocks of 117 companies that have remained suspended for more than 10 years would be "delisted from the platforms of the exchange" with effect from August 23, 2017.

Besides, the scrip of 28 companies that have remained suspended for more tha

TCS workers on strike in AIIMS after termination letters

Eighty Tata Consultancy Services (TCS) employees associated as patient care coordinators at the AIIMS on Monday went on a strike after being served termination notices.

The TCS handles online appointments and facilitates outstation patients at the All India Institute of Medical Sciences (AIIMS).

According to the workers on strike, TCS last week began issuing termination noti

HCL Infosystems confirms distribution of Apple products in India

HCL Infosystems on Monday announced that it has signed a distributor agreement with Apple for iPhones and other products in India.

"We wish to inform that the Distributor Agreement for distribution of iPhone and other Apple products has been signed with M/s Apple India Private Limited (M/s Apple), a confirmation of which is received by the Company from M/s Apple today," Shiv

Chembond Chemicals Q1 net profit zooms 289.12% at Rs 5.72 cr

The company reported standalone net profit of Rs 5.72 crore for the quarter ended June 30, 2017 as compared to Rs 1.47 crore in the same period last year, registering a year-on-year growth of 289.12 per cent.

Net revenue of the company declined marginally by 1.31 per cent at Rs 54.12 crore in April-June quarter of this fiscal as against Rs 54.84 crore in the corresponding period last

Pradeep Metals Q1 net profit up 33.85% at Rs 0.87 cr

The company reported standalone net profit of Rs 0.87 crore for the quarter ended June 30, 2017 as compared to Rs 0.65 crore in the same period last year, registering a year-on-year growth of 33.85 per cent.

Net revenue of the company rose substantially by 33.64 per cent at Rs 30.19 crore in April-June quarter of this fiscal as against Rs 22.59 crore in the corresponding period last y

Sharda Ispat Ltd Q1 net profit zooms 314.29% at Rs 0.87 cr

The company reported standalone net profit of Rs 0.87 crore for the quarter ended June 30, 2017 as compared to Rs 0.21 crore in the same period last year, registering a year-on-year growth of 314.29 per cent.

Net revenue of the company declined by 0.18 per cent at Rs 16.25 crore in April-June quarter of this fiscal as against Rs 16.28 crore in the corresponding period last year. Durin

OCL Iron & Steel posts Q1 net loss of Rs 52.92 cr

The company reported standalone net loss during the quarter stood at Rs 52.92 crore as compared to net loss of Rs 55.40 crore in the previous year quarter. Net revenue of the company declined substantially by 23.53 per cent at Rs 74.82 crore in April-June quarter of this fiscal as against Rs 97.84 crore in the corresponding period last year.

During April-June quarter, operating expens

Gujarat Poly Electronics Q1 net profit down 20%

The company reported standalone net profit of Rs 0.08 crore for the quarter ended June 30, 2017 as compared to Rs 0.10 crore in the same period last year, registering a year-on-year decline of 20.00 per cent.

Net revenue of the company declined moderately by 8.41 per cent at Rs 3.05 crore in April-June quarter of this fiscal as against Rs 3.33 crore in the corresponding period last ye

Global cues, selling pressure pull equity indices lower

 Negative global cues and heavy selling pressure in index heavyweights such as Infosys, ONGC and Tata Motors among others pulled the key Indian equity indices -- the NSE Nifty 50 and the BSE Sensex -- lower on Monday.

According to market observers, subdued global benchmark indices coupled with foreign fund outflows eroded investors' risk-taking appetite. 

Besid

Bank unions serve notice to IDBI Bank for strike on Aug 22

State-run lender IDBI Bank on Monday said that that Indian Banks' Association (IBA), the convenor of United Forum of Bank Unions (UFBU), have served a notice of strike on August 22, 2017 to put forth their long pending demands.

“The bank has received notice of one day nationwide strike on August 22, 2017 from United Forum of Bank Unions in support of their demands,” ID

Petron Engineering Construction gets order worth Rs 60 cr

Petron Engineering Construction said that it has bagged order worth Rs 60 crore from JSW Cement for civil & structural work at Jajpur, Orissa. “The Company has received Letter of Intent from M/s. JSW Cement Limited, for Civil & Structural work for 1.2 MTPA Cement grinding plant at Jajpur, Orissa for an approx. value of Rs. 60 Crores,” the company said in a filing to the Bomb

TCS` arm to deploy digital learning platform for ICSI

TCS iON, a business unit of IT major Tata Consultancy Services (TCS), on Monday announced its partnership with the Institute of Company Secretaries of India (ICSI) to help foster digital learning opportunities for students.

TCS iON would deploy an end-to-end digital learning solution for ICSI to facilitate self-education for students, especially those in remote areas who don't hav

Daunting task for Infosys Board finding new CEO: Jefferies

The embattled Board of software major Infosys faces a daunting task in finding a suitable Chief Executive Officer (CEO) to succeed technocrat Vishal Sikka who resigned on August 18, US-based global investment bank Jefferies LLC has said.

"Given the acrimonious exit (of Sikka), the near-term challenge for the Infosys Board would be to find the right candidate for the CEO post and