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

SBI to shut down 47% of associate banks' offices post-merger

State Bank of India (SBI), which will see five associate banks merge into it on April 1, has decided to shut down almost half the offices of these banks, including the head offices of three of them. This process will start from April 24.

"Out of the five head offices of the associate banks, we will retain only two. Three head offices of the associate banks will be unbound along w

Ind-Ra assigns AA/Stable' rating to UBI’s Tier 1 bonds

Union Bank of India has said in a filing to the Bombay Stock Exchange that India Ratings and Research Private Limited has assigned ‘IND AA/Stable' rating to the Bank's proposed fresh issue of Basel III compliant Additional Tier 1 bonds of Rs.1500 crore. Union Bank of India is one of the largest government-owned banks of India. It is listed on the Forbes 2000, and has assets of USD

HCL to provide IT services to Volvo Ocean Race

HCL Technologies, the leading global IT services company has said that it has been chosen as the strategic IT services provider to the Volvo Ocean Race. HCL will be responsible for developing and delivering IT solutions for the 2017–18 edition of the race around the world. The Volvo Ocean Race held every three years witnesses the coming together of the best sailors across the world to com

Indian equities trade lower as investors book profits

Indian equity markets slipped for the second consecutive trade session on Tuesday as heavy selling pressure was witnessed in healthcare, banking and automobile stocks.

The key indices traded in the red during the mid-afternoon trade session as investors booked profits.

At 12.45 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) broke the crucial 9,100-level

Bharti Infratel says Nettle Infra to buy about 21.63 percent stake in co from Airtel

Telecom tower infrastructure company Bharti Infratel said Nettle Infrastructure Investments would buy about 21.63 percent of its stake from company's promoter Bharti Airtel Ltd.

In a disclosure filed with National Stock Exchange, Bharti Infratel said Nettle Infra Investments, a wholly-owned unit of Bharti Airtel, would acquire about 400 million shares on or after March 27.

Adobe, Microsoft team up to share sales and marketing data

By Stephen Nellis

Microsoft Corp and Adobe Systems Inc are joining to make their respective sales and marketing software products more potent competitors to Inc and Oracle Corp offerings, the two firms said Monday.

On the eve of San Jose, California-based Adobe’s annual user conference, the company said that it will work with Microsoft to create a shared

Xiaomi unveils second manufacturing unit in India

Reaffirming its commitment to 'Make in India' after logging $1 billion in revenue in the country last year, Chinese smartphone-maker Xiaomi on Monday announced its second manufacturing unit in partnership with Taiwanese electronics major Foxconn in Andhra Pradesh.

With the new manufacturing plant also at Sri City, in Andhra Pradesh, more than 95 percent of Xiaomi's smartph

Equities slip on negative global cues, profit booking

Broadly negative global cues and heavy selling pressure witnessed in IT, banking and Teck (technology, media and entertainment) stocks dragged the Indian equity markets lower on Monday.

The key indices provisionally closed in the red with losses as investors took to book profits.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 33.20 points or 0.36 per c

L&T Hydrocarbon wins Rs 1,656 cr contract from ONGC

Engineering major Larsen & Toubro (L&T) today said its wholly-owned subsidiary L&T Hydrocarbon Engineering has won a Rs 1,656 crore contract from ONGC. “L&T Hydrocarbon Engineering Ltd, a wholly-owned subsidiary of Larsen & Toubro, has bagged an offshore contract for the Neelam Re-Development and B173AC project from ONGC valued at 1,656 crore,” the company said i

RCOM gets CCI approval for Aircel merger

Reliance Communications has received an approval of the Competition Commission of India (CCI) for the proposed merger with telecom service provider Aircel, a company statement said here on Monday.

"Reliance Communications has received an approval of CCI for the proposed Scheme of Arrangement for demerger of the wireless division of the company into Aircel Limited and Dishnet Wire

Selling pressure pulls Indian equities lower

 Broadly negative global cues and heavy selling pressure witnessed in IT, banking and metal stocks dragged the Indian equity markets lower on Monday.

The key indices traded in the red during the mid-afternoon trade session, as investors took to book profits.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 34.35 points or 0.37 per cent to 9,125.70 p

Vodafone, Idea in $23 billion deal to create new Indian telecom leader

By Devidutta Tripathy and Sankalp Phartiyal

MUMBAI - Britain's Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations in a $23 billion deal, creating the country's biggest telecoms business after the entry of a new rival sparked a brutal price war.

The combined entity would have almost 400 million customers, overtaking mar

Rupee movement, inflows of funds to guide Indian equities

Aiming to retain their psychologically- significant levels, key Indian equity indices will seek direction from the movement of the rupee, influx of foreign funds and global macro-economic data during the trade week starting March 20.

"With no major domestic triggers or events in the coming week, investors should continue to keep an eye on global events and fresh investment b

Adani to finalise Australia coal investment plan by June

MUMBAI  - Adani Enterprises said it would finalise an investment decision by June for its Carmichael coal project in the northern Australian state of Queensland, which has been delayed due to protests from environmental groups.

For more than five years, Adani has battled opposition from green groups who fear the project will produce so much coal for export to Ind