TCS too mulls buyback of shares soon

Global software major Tata Consultancy Services Ltd (TCS) proposes buyback of equity shares of Re 1 face value, said the IT major on Thursday,

"The Board of Directors will consider a proposal for buyback of equity shares of the company at its meeting to be held on February 20, 2017," said the flagship company of the Tata Group in a regulatory filing to the BSE.

M&M three-wheeler sales may remain low after note ban

Automobile major Mahindra & Mahindra Ltd (M&M) on Thursday said the sales of its three-wheeler commercial vehicles (CV) are likely to remain low for at least two more quarters.

"Three-wheeler commercial vehicle sales have been taking a beating ever since the demonetisation was announced in November. It is a challenge in the current quarter (January-March) too. I don&

NSE stock index to add Indian Oil, drop Idea Cellular

MUMBAI - India's main stock index at the National Stock Exchange (NSE) will add state-run refiner Indian Oil Corp and lender Indiabulls Housing Finance as new constituents from March 31, the exchange said on Thursday.

Telecoms company Idea Cellular and state-run Bharat Heavy Electricals will be dropped from the 50-share index, the exchange said.


Bank of Baroda Unions to join nation-wide strike on February 28

Country’s one of the leading public sector lender Bank of Baroda on Thursday said that all the major Unions/ Associations of the bank are going on strike on February 28, 2017. In the event of the UFBU proceeding on strike on February 28, 2017 the functioning of branches/ offices of the bank will be affected, Bank of Baroda said in a filing to the Bombay Stock Exchange on February 16, 2017

State Bank of Mysore`s merger with SBI gets Cabinet nod

SBI’s associate bank State Bank of Mysore (SBM) on Thursday said that the bank’s merger with the State Bank of India has got Cabinet approval.

In a filing to the Bombay Stock Exchange, the bank said, “The Finance Minister of India has announced that the Cabinet has approved the proposal for merger of State Bank of Mysore with State Bank of India.” Meanwhile, sh

Dassault Systèmes to annually train 1,600 engineers in Karnataka

Global 3D experience major Dassault Systèmes and the Karnataka government on Thursday announced the setting up of a Centre of Excellence in 'Aerospace and Defence' in the state aimed at providing high-end training for nearly 1,600 engineers every year.

Karnataka Biotechnology and Information Technology Services (KBITS), a state government enterprise, and Dassault Syst&e

No wage issue in merger of associate banks: SBI chief

On the heels of the Cabinet approval for the merger into State Bank of India (SBI) of its five associate banks, the public lender on Thursday said there are no wage-related issues with the employees in the process.

"No wage-related issues right now. They can retain what they receive at this point of time or they will be offered a wage package according to the SBI standards. They

Merger will lower operating costs for combined entity: SBI MD

With the Union Cabinet granting approval to the merger into the State Bank of India (SBI) of its five associate banks, the public lender on Thursday said the combined entity would have lower management costs resulting in savings on operating costs.

"Once merger is complete, we will be in a position to save costs of these associate banks, because the structure of the five head off

USFDA inspects Cadila Healthcare`s Moraiya facility

Drug firm Cadila Healthcare today said the US health regulator has inspected the company's Moraiya plant and found it meeting the manufacturing norms. "United States Food and Drug Administration (USFDA) inspected company's Moraiya facility from February 6, 2017 to February 15, 2017.

At the end of the inspection no observation (483) is issued," Cadila Healthcare said

Nestle India Q4 net profit slips 8.7% at Rs 167.31 cr

Swiss firm’s India unit Nestle India Ltd has reported a fall of 8.7 per cent in its standalone net profit after taxes (PAT) at Rs 167.31 crore for the fourth quarter ended December 31, 2016, hit by higher tax expenses and demonetisation. “The standalone net profit of the company stood at Rs 183.19 crore during the same period a year ago,” Nestle India Ltd said in a filing to t

Healthy macro-data lifts Indian equities

Healthy macro-data, coupled with broadly positive Asian indices and value buying, lifted the Indian equities markets on Thursday.

The key domestic indices provisionally closed with substantial gains of more than half a per cent each, as healthy buying was witnessed in healthcare, automobile, and metal stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edge

Nalco, Teri sign MoU for sustainable rehabilitation

Nalco has signed an agreement with Teri for various scientific, technological and educational activities in the area of mining rehabilitation and sustainable development, said a statement on Thursday.

The Memorandum of Understanding (MoU) was signed in the presence of Coal and Power Minister Piyush Goyal, Mines Secretary Balvinder Kumar, Nalco CMD Tapan Kumar Chand and senior official

Aequs setting up Rs 500 cr aerospace facility in Goa

Leading aerospace precision engineering firm Aequs would invest Rs 500 crore to set up a dedicated manufacturing facility at Tuem in Goa for the Indian defence sector, said a top company official here on Thursday.

"Our new facility will make high-end components and systems for the Indian defence industry and support the government's 'Make in India' initiative," s

India hopes for Bhutan`s ratification of BBIN soon

Ahead of the implementation of Bangladesh, Bhutan, India, Nepal Motor Vehicles Agreement (BBIN MVA), India remains hopeful that Bhutan would ratify the accord soon, top officials said on Thursday.

The four South Asian nations signed the BBIN Agreement in June 2015 in Thimphu and the accord was seen as a significant symbol of sub-regional unity.

Despite ratifications by three

Dassault Reliance Aerospace Limited incorporated

Dassault Reliance Aerospace Limited (DRAL), a joint venture (JV) between Reliance Infrastructure Limited (RInfra)-promoted Reliance Aerostructure Limited (RAL) and Dassault Aviation, which can potentially generate 700 highly-skilled direct jobs and 2,800 indirect jobs in its first phase, has been incorporated, it was announced here on Thursday.

Eric Trappier, Chairman of Dassault Avia

Tata Motors, Microsoft ink technology collaboration deal

MUMBAI - Tata Motors Ltd and Microsoft India on Thursday announced a strategic collaboration on the technology front to make driving a more personalised experiences for the customers, the companies said in a joint statement.

The first vehicle showcasing the vision of the enhanced driving experiences will be unveiled at the Geneva International Motor show on

IL&FS Engineering bags Rs 123.05 cr pipeline laying contract

Infrastructure developer IL&FS Engineering and Construction Company Ltd on Thursday said it has received Fax of Acceptance (FOA) from Gas Authority of India Ltd (GAIL) for 2 pipeline laying contracts worth Rs 123.05 crore (plus service tax) in Kerala / Karnataka.

“IL&FS Engineering Services wins Rs 123.05 cr pipeline laying contract,” the company said in a filing t

Asian Paints to acquire Causeway Paints

Asian Paints today said its subsidiary Berger International will fully acquire Sri Lanka's Causeway Paints in an all cash deal. "Berger International Pvt Ltd, Singapore, indirect subsidiary of the company, has entered into a share purchase agreement with the existing shareholders of Causeway Paints Lanka (Pvt) Ltd (CPLPL), Sri Lanka, for acquisition of 100 per cent stake in CPLPL in an

Hindustan Oil Exploration bags 2 contracts in DSF 2016

HOEC has said that it is pleased to announce the award of two contract areas to the company in consortia with Oil India Limited, Prize Petroleum Limited and other private company by the Government of India in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).

One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square k

Cyient partners ASE S.p.A for joint market development

Cyient Inc., a subsidiary of Cyient Limited, a global provider of engineering, manufacturing, data analytics, network and operations solutions has said that it has partnered ASE S.p.A., a privately-owned Italian company, and a leading supplier of electrical power generation and distribution systems to the international aerospace and defence industry, for joint market development of products in

Palred Technologie`s launches new private label `DaZon`

Palred Technologies Ltd has said that has launched ‘DaZon Wrist Watches’ for Men & Women which is in line with’s strategy of continuously innovating and introducing promising categories to meet rapidly changing customer needs and demands.

After achieving India’s no. 1 position as e-tailer of tech & mobile accessories, LatestO

Paytm clocks Rs 5,000 cr worth transactions in January

Spurred by demonetisation, online payments platform Paytm clocked Rs 5,000 crore worth of transactions in the month of January, Paytm's founder Vijay Shekhar Sharma said according to the PTI report. "We clocked Rs 5,000 crore worth of transactions in January alone, that's 200 million transactions in volume terms," Sharma told reporters on the sidelines of Nasscom India Leaders

Thomas Cook India arm acquires 64% stake in Comtel Solutions

Travel services provider Thomas Cook India today said its arm Quess Corp has acquired 64 per cent stake in Singapore-based technology service provider Comtel Solutions Pte Ltd for an undisclosed sum. "Quess Corp Ltd, a subsidiary of Thomas Cook (India) Ltd, has completed acquisition of 64 per cent equity in Comtel Solutions Pte. Ltd., Singapore on February 14, 2017," the company said

DLF promoters in last leg of talks for Rs 12-14k cr sale deal

DLF's promoters are in the final stage of discussion with potential investors to sell their 40 per cent stake in the company's rental arm DCCDL Ltd for an estimated Rs 12,000-14,000 crore, reported PTI. DLF, the country's largest real estate developer, had announced in October 2015 that its promoters would sell their entire stake in DLF Cyber City Developers Ltd (DCCDL), which holds

Unitech Q3 loss widens to Rs 17.13 cr

Country's second largest real estate firm Unitech Ltd has reported that its consolidated net loss widened to Rs 17.13 crore for the third quarter ended December 31, 2016. “The consolidated net loss of the realty major stood at Rs 12.25 crore during the same period a year ago,” Unitech Ltd said in a filing to the Bombay Stock Exchange.

However, the consolidated total in