Slow monsoon progress delays India soybean sowing - trade body

MUMBAI  - Soybean sowing in India is likely to get delayed due to the late arrival of monsoon showers in key growing states, trade body Solvent Extractors Association of India (SEA) said on Wednesday.

Central state of Madhya Pradesh and neighbouring Maharashtra are top two producers of soybeans in the country, but both the states have not got enough rainfall for

Air India, Jet start extra flights to Doha

NEW DELHI  - Air India and Jet Airways  will start additional flights to Doha from this week to bring back stranded Indian nationals, after some Gulf countries led by Saudi Arabia cut ties with Qatar, a government statement said on Wednesday.

Earlier this month, the Arab world's biggest powers severed diplomatic relations with Qatar, accusing it of suppo

Trent issues commercial paper worth Rs 100 cr

Trent Ltd, the retail hand of Tata group said that it has issued and allotted Commercial Paper worth Rs 100 Crores. The company in a filing to the Bombay Stock Exchange said that the proceeds will be primarily used to refinance the upcoming repayments.

According to the filing, Credit Analysis & Research Limited has assigned a credit rating of 'CARE A1+' to the said instrum

Zydus gets EIR for Moraiya manufacturing plant

Pharma major Zydus Cadila said that its formulations manufacturing facility at Moraiya, Ahmedabad has received an Establishment Inspection Report from the USFDA signifying the successful closure of the audit.

“The Moraiya manufacturing plant has completed the USFDA audit from 06 February 2017 to 15 February 2017 with Zero 483 observations,” the company said in a filing to

Jeevandas Narayan appointed as MD of Manappuram Home Finance

Manappuram Finance said that it has appointed Jeevandas Narayan as the Managing Director of Manappuram Home Finance Pvt Ltd, a wholly owned subsidiary of the Company.

Narayan has more than 37 years of experience in the financial services industry having held various key positions in State Bank of India. He was the managing director of the erstwhile State Bank of Travancore until retir

CG Power and Industrial Solutions to sell its US power biz

CG Power and Industrial Solutions Ltd, formerly known as Crompton Greaves, on Wednesday said it has accepted the binding offer of Weg SA for acquisition of the company’s power business in USA at an enterprise value of USD 37 million.

In a filing to the Bombay Stock Exchange, CG Power and Industrial Solutions said, “The company has accepted a binding offer of WEG S.A for ac

Bajaj Corp plans to raise Rs 1,000 cr

FMCG firm Bajaj Corp said that it has planned to raise Rs 1,000 crore from market by issuing equity shares and securities. The company has plans to raise the amount “in one or more tranches up to an amount not exceeding Rs 1,000 crore”.

The resolution will enable the firm to raise funds by “issue of equity shares and/or any other financial instruments, convertible in

Sensex falters on oil slump, caution before RBI minutes

 Indian shares posted small losses for a second consecutive session on Wednesday, tracking lower Asian markets after oil prices slumped, with investors waiting for the minutes of a central bank policy meeting held earlier this month.

The broader NSE Nifty closed down 0.21 percent at 9,633.60, while the benchmark BSE Sensex was 0.04 percent lower at 31,283.64.

(Reporting

Canara Bank to sell 8.9% in CARE

Canara Bank has decided to sell nearly 9 per cent stake in the credit ratings firm CARE Ltd that could fetch it over Rs 393 crore. Inviting bids from merchant bankers, Canara Bank, in the bid document said: "Our bank is proposing to sell 26,22,430 equity share of Credit Analysis and Research Ltd (CARE Ltd) comprising of 8.90 per cent of the total paid up equity share capital of the company

Reliance shuts DHDS for 2-3 weeks at 580,000 bpd refinery - sources

NEW DELHI - India's Reliance Industries Ltd has shut a diesel hydro desulphuriser (DHDS) at its export-focused 580,000 barrels per day refinery for about two to three weeks for maintenance, two industry sources said on Tuesday.

Reliance, owner of the world's biggest refining complex, has two mega-sized refineries with combined capacity of 1.2 million bpd at Ja

Punjab to forgive over $1.5 billion in farm debts

By Vipin Das M

NEW DELHI - Punjab will waive more than $1.5 billion in loans to farmers, becoming the third state to do so in response to growing rural distress caused by food oversupply and weak prices.

The South Asian nation is carrying a huge inventory of food grains from last year's record harvest, while exports have been hit by an appreciating rupee

Raymond sets up greenfield garment manufacturing facility in Ethiopia

Raymond Ltd said that its wholly owned subsidiary Silver Spark Apparel Ethiopia PLC has inaugurated its Greenfield garment manufacturing facility in Ethiopia. “Set up at Hawassa Industrial Park (HIP), with an investment of over Rs 100 crores, this foray is in line with the Group’s ambitions to increase its presence across International markets,” the company said in a filing to

Piramal Enterprises to raise up to Rs 1100 cr via NCDs

Piramal Enterprises said that it has received board approval to raise Rs 1100 crore through issue of privately placed secured Non-Convertible Debentures. “At a meeting of Administrative Committee of the Board of Directors held today, the committee approved the issue of Non-Convertible Debentures on private placement basis for upto Rs.600 crores with an option to retain over-subscription o

Adinath Exim Resources allots 2.15 lakh Warrants to promoter

Adinath Exim Resources, engaged in a non-banking financial activity, on Tuesday said it has allotted 2.15 lakh convertible warrants of Rs 26 to be converted into equivalent number of equity shares of Rs 10 each at a premium of Rs 16 per share to Shantilal savla Family Trust, Promoter Group.

“The share allotment committee of the company in its meeting held on June 20, 2017, made

Titagarh Wagons’ arm buys shares held by Adler Plastic SpA

Titagarh Wagons said that its wholly-owned subsidiary Titagarh Singapore Pte (TSPL) has acquired the shares held by Adler Plastic SpA, Italy, representing 10 per cent of the total paid-up share capital of Titagarh Firema Adler SpA (TFA), a subsidiary of the company.

As a result, TFA has become a wholly-owned subsidiary of the company in which the company holds 1.8 per cent directly an

L&T launches floating dock built for Indian Navy

Larsen & Toubro has launched a Floating Dock (FDN-2) designed and built for the Indian Navy at its greenfield shipyard at Kattupalli, north of Chennai. The floating dock was lowered into the waters of the Bay of Bengal by Anjali Deshpande in the presence of her spouse Vice Admiral D.M. Deshpande, Controller Warship Production and Acquisition of Indian Navy, JD Patil, Senior Executive Vice-P

IDBI Federal Life partners with SunTec for GST roll out

IDBI Federal Life Insurance today said it has partnered with SunTec, which will help facilitate in computing and invoicing of debit tax and credit tax that will be GST compliant. "We are happy to partner with SunTec and look forward to becoming GST compliant.

 Given the diverse business portfolios, it becomes crucial for us to ensure that all taxation-related data is compute

India-US trade win-win situation: India

Ahead of Prime Minister Narendra Modi's visit to the US, the Commerce Ministry on Tuesday said bilateral trade was a "win-win" situation for both the countries even though the balance of trade was not in America's favour.

The US had started a review of its trade policy with countries with which it has adverse trade balance, Commerce Secretary Rita Teaotia told the me

Reliance Defence enters into partnership with Yugoimport of Serbia

Reliance Infrastructure (RInfra) promoted Reliance Defence Ammunition has entered into a strategic partnership with Yugoimport of Serbia for ammunition manufacturing in India, a company statement said here on Tuesday.

The two companies will work together in the field of ammunition, amongst others, with projected minimum requirement of Rs 20,000 crore over the next 10 years from Indian

Indian equities close flat, banking stocks slip

The Indian equity markets on Tuesday trimmed gains to provisionally close on a flat-to-negative note as investors booked profits and banking and FMCG stocks witnessed selling pressure.

However, positive European markets and healthy buying in consumer durables, IT and oil and gas stocks limited the downside.

The wider Nifty of the National Stock Exchange (NSE) inched lower by

Over 1,100 ISB students get Rs 22 lakh a year job offers

Students of the Indian School of Business (ISB) here have secured over 1,113 job offers in the campus placements this year with an average salary of around Rs 22 lakh a year.

Over 400 domestic and international companies made the offers to 903 students of the ISB's flagship Post Graduate Programme in Management (PGP).

The premier business school, which has campuses in Hy

GE Power appoints Andrew H. DeLeone as an Additional Director

GE Power India said that it has appointed Andrew H. DeLeone as an Additional Director of the Company with effect from 20 June 2017. “The Board of Directors of the Company in its meeting held on 20 June 2017 (today) has appointed Mr. Andrew H.

DeLeone as an Additional Director of the Company with effect from 20 June 2017,” the company said in a filing to the Bombay Stock Ex

Dr. Reddy's Lab allots 13,627 equity shares under ESOP scheme

Drug maker Dr. Reddy's Laboratories on Tuesday said it has allotted 13,627 equity shares of Rs 5 each of the company to employees on exercise of their stock options.

“Nomination, Governance & Compensation committee of the board of directors of the company has allotted 13,627 equity shares of Rs 5 each of the company, fully paid up, on June 20, 2017, to employees on exerc

Modi to discuss H-1B visa issue with Trump next week - official

By Manoj Kumar

NEW DELHI  - Prime Minister Narendra Modi will take up the issue of visas for skilled workers when he meets U.S. President Donald Trump next week in Washington, a senior government official said on Tuesday.

Trump has ordered a review of the U.S. visa programme for bringing high-skilled foreign workers into the United States, putting techn

Hike rolls out India's first payment wallet within messaging platform

By Sankalp Phartiyal

MUMBAI - Indian instant messaging platform Hike rolled out an in-app electronic payments wallet on Tuesday in a bid to cash in on rising digital transactions, replicating similar services offered by its backer Tencent Holdings in China.

E-payments have surged in India since a shock ban of high-value bank notes in November last year. Prov