Bank of Baroda raises Rs 1,000 cr via bonds

State owned Bank of Baroda said it has raised Rs 1,000 crore by issuing Basel III compliant additional tier I bonds. The bonds will bear coupon rate of 9.14 per cent. The bank issued 10,000 bonds of face value of Rs 10 lakh each. To comply with Basel-III Capital Regulations, banks need to improve and strengthen their capital planning processes.

These norms are being implemented to mit

Mahindra & Mahindra’s arm sells entire stake in MICPL

Mahindra & Mahindra has said in a filing to the Bombay Stock Exchange that Mahindra Retail Private Limited ('MRPL'), an indirect subsidiary of the company, has sold its entire shareholding (100 per cent) in Mahindra Internet Commerce Private Limited ('MICPL'). Hence, MICPL has ceased to be a subsidiary of MRPL and as such of the Company.

Mahindra and Mahindra Limit

Cabinet nod for extending oil production sharing contracts

A Union Cabinet panel on Wednesday approved a policy for extending the licences of oil and gas fields awarded before the 1999 New Exploration Licensing Policy (NELP) regime, on payment of an additional 10 per cent profit share.

The Cabinet Committee on Economic Affairs approved the policy for grant of extension to the Production Sharing Contracts (PSC) signed by the government awardin

NSE to add 15 stocks to F&O sector from March 31

Stock exchange major National Stock Exchange (NSE) on Wednesday announced that it will add 15 stocks to the futures and options (F&O) segment.

The NSE said in a statement that the additional stocks will be available for trading from March 31.

Reliance Defence and Engineering, InterGlobe Aviation, PVR, Capital First, Muthoot Finance, Dalmia Bharat, Equitas Holdings and In

Hindustan Zinc announces Rs 13,985 cr interim dividend

Hindustan Zinc, a subsidiary of Vedanta Limited, on Wednesday announced a one-time interim dividend of Rs 13,985 crore for the financial year 2016-17.

"In its meeting held today (Wednesday) to consider a second interim dividend, the Board of Directors has declared a special one-time interim dividend of 1375 per cent i.e. Rs 27.50 on every equity share of Rs 2, entailing an outflo

Ashok Leyland expects 10% YoY growth in truck segment

Commercial vehicle manufacturer Ashok Leyland on Wednesday said its truck segment is expected to grow at 10 per cent year-on-year (YoY) in the Indian logistics sector.

The Hinduja Group flagship company said it aims to strengthen its position further in the logistics sector, which is expected to grow at a compounded annual growth rate of 16 per cent. 

"The truck se

U.S. bans Divi's factory, shares hit 3-year low

MUMBAI- U.S. health regulators have banned a drug production site in India belonging to Divi's Laboratories Ltd  due to manufacturing violations, sending the company's shares down to a near three-year low on Wednesday.

This comes at a time when an increasingly protectionist stance by U.S. President Donald Trump is threatening to make the operating environ

Indian equities slide on negative global cues

 Indian equity markets on Wednesday slipped on the back of negative global cues and heavy selling pressure in automobile, consumer durables and banking stocks.

Both the key indices provisionally closed with losses of around one per cent each. The NSE Nifty closed below the psychologically important 9,100-level.

Growing concerns over US President Donald Trump's abili

Airtel hits back at Jio on speed ad with Ookla backing

Bharti Airtel lashed out at Reliance Jio's allegations around its fastest network ad campaign, saying the complaint is a deliberate attempt to "malign the brand" and "misguide customers", reported PTI. Further, mobile internet speed testing firm Ookla has stood by the finding that Airtel had the fastest broadband network in the country, a claim which has been challenged

84% Jio users willing to take Prime offer, says survey

At least 84 per cent of the current Jio users are expected to subscribe to its Prime membership in April, a survey conducted by Bank of America Merrill Lynch said here on Wednesday.

"We surveyed 1,000 Jio users online to gauge trends. With all the caveats that accompany surveys in a country as large as India, the results are stark: 84 per cent of Jio users we surveyed suggest the

Samsung Pay debuts in India

Joining the 'go digital' bandwagon, South Korean giant Samsung on Wednesday launched Samsung Pay, the company's flagship mobile payments service, in India.

Apart from allowing users to simply tap and ‘pay on the go' using their registered cards, Samsung Pay has integrated digital wallet Paytm as well as the government's Unified Payments Interface (UPI) paymen

Merger benefits to accrue only from Q3 2017-18: SBI

Benefits from the merger of five associate banks of the State Bank of India (SBI) into itself, which will come into effect from April 1, will accrue only from the third quarter of 2017-18 as the initial two quarters may see some increase in costs, the country's largest lender has said.

"We should start seeing the benefits of the merger after the end of the second quarter,&quo

Snapdeal says not in talks for sale

MUMBAI  - Indian e-commerce marketplace Snapdeal on Wednesday denied it was in talks for a potential sale, after the Mint newspaper reported the company was in discussions with domestic rivals for a potential sale.

The Mint report, quoting sources, said Snapdeal was in talks with Paytm E-Commerce Pvt Ltd and Flipkart for a potential sale.

"Snapdeal

Adani Enterprises acquires 100% shares of AIPL

Adani Enterprises has said that it has acquired Adani Infrastructure Pvt Ltd (AIPL), which is yet to commence business operations. AIPL with an authorised and paid up capital of Rs5 lakh is a subsidiary of Adani Properties Pvt Ltd for development of infrastructure, a promoter group company. “The company has acquired 100% equity share capital of AIPL...The transaction is done at arm’

HUL to start new manufacturing unit in Assam

Hindustan Unilever has said in a filing to the Bombay Stock Exchange that the company has commenced the commercial production in its new manufacturing unit at Assam on 15th March, 2017. The company had earlier informed that it was planning to set up new manufacturing unit in Assam to augment the production capacity of Personal Care Products of the company.

Hindustan Unilever Limited i

Nila Infrastructures enters into 2 LOA with GSRTC

Nila Infrastructures has said that it has entered into two separate Letter of Acceptance (LOA) with Gujarat State Road Transport Corporation ("GSRTC") for development of Bus Terminal under Public Private Partnership. One LOA is executed by the company for development of 'Amreli Bus Terminals and another LOA is executed in consortium with M/s Vyapti Infrabuilt Pvt. Ltd. for develop

Indian equities slide on negative global cues

 Indian equity markets on Wednesday slipped on the back of negative global cues and heavy selling pressure in automobile, consumer durables and banking stocks.

Both the key indices provisionally closed with losses of around one per cent each. The NSE Nifty closed below the psychologically important 9,100-level.

Growing concerns over US President Donald Trump's abili

Indians leave bankers in the cold in $23 billion telecoms mega-deal

By Sumeet Chatterjee and Devidutta Tripathy

HONG KONG/MUMBAI - Investment banking business in India should be enjoying bumper fees after a record year of dealmaking. It's not, and big banks blame in-house teams of advisers that have proliferated as the country's top family-owned conglomerates tighten their grip.

This week's $23 billion tie-up bet

Sahara`s Aamby property will be auctioned if money not deposited: Supreme Court

The Supreme Court on Tuesday said if the Sahara Group fails to deposit Rs 5,092 crore with market regulator SEBI as ordered, the group's Aamby Valley property in Maharashtra will be auctioned.

The top court by its February 28 order had permitted Sahara to sell some of its properties but asked it to deposit Rs 5,092.64 crore on or before April 13, 2017.

A bench of Justice

Kumar Birla, Vodafone CEO call on Communications Minister

After announcing the largest merger in the Indian telecom space, Kumar Mangalam Birla, Chairman of the Aditya Birla Group that owns Idea Cellular, and Vodafone Group Plc CEO Vittorio Colao on Tuesday met Communications Minister Manoj Sinha here.

According to sources, Birla and Colao sought the government's advice regarding smoothening of the merger process.

Vodafone Indi

Indian equities pares losses, close flat

Indian equity markets provisionally closed on a flat-to-negative note on Tuesday, with heavy selling pressure witnessed in healthcare, banking and automobile stocks.

A strong rupee and broadly positive global cues aided the key indices to pare some losses and close the day on a flat note.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was a tad lower by 5.35 p

IDBI Bank board okays preferential issue of capital worth Rs 2,500 cr

Public sector lender IDBI Bank on Tuesday said that its board has approved preferential issue of capital to government of India and other financial institutions upto Rs 2,500 crore, subjected to regulatory approval. “The board has approved the proposal for preferential issue of capital to government of India and other financial institutions, upto Rs 2,500 crore subjected to regulatory app

PC Jeweller to inaugurate four new showrooms

PC Jeweller said that it will be opening four new showrooms on March 28, 2017. The two showrooms will be located at U.P, and other two at Rajasthan and New Delhi. After opening of these 4 showrooms, the company will have total 75 showrooms located across 58 cities in India, it said in a filing to the Bombay Stock Exchange.

PC Jeweller is engaged in manufacturing jewelry products. It o

BSNL launches plan to provide 2GB data per day at Rs 339

State-run Bharat Sanchar Nigam Limited (BSNL)on Tuesday launched a plan that will provide 2GB data per day for Rs 339 per month.

"To compete with Jio and other private players, we have introduced the cheapest plan with a rental value of Rs 339 per month. Under this plan, the consumer will get 2GB per day," said Sanjiv Tyagi, General Manager, BSNL.

"In a month,

IBM, Red Hat collaborates to accelerate Cloud adoption

Software giant IBM on Tuesday collaborated with open source software solutions provider Red Hat that will provide the hybrid Cloud infrastructure to help customers efficiently run Cloud applications using OpenStack APIs.

OpenStack is a free and open-source software platform for Cloud computing, mostly deployed as an infrastructure-as-a-service (IaaS). 

"The strateg