JSW Steel aims to increase own iron ore production

By Promit Mukherjee

MUMBAI - JSW Steel Ltd, India's biggest local steelmaker, aims to be producing 80 percent of the iron ore needed for its flagship plant in south India in three years time as it seeks to cut costs, a senior executive said.

The company expects to begin producing ore from mines it won in a recent auction in the southern state of Karnatak

SpiceJet to launch four new domestic flights in October

Low-cost carrier (LCC) SpiceJet on Friday said it will launch four new direct flights on its domestic network with effect from October 3.

According to the airline, the new flights will be launched on Chennai-Belagavi, Bengaluru-Coimbatore, Bengaluru-Madurai and Bengaluru-Belagavi routes.

The LCC said it will offer all-inclusive one-way introductory starting fares ranging bet

Hyundai Motor India revises prices post GST cess hike

Automobile major Hyundai Motor India on Friday announced revision of prices post GST cess hike on Elite i20, Next Gen Verna, Creta, Elantra and Tucson while the price on its compact cars and sedans remained unaffected.

According to the company, the price hike will range from 2 to 5 per cent effective from September 11, 2017.

The company currently has 10 models across segment

ADB, IndusInd Bank partner to provide finance to women borrowers

The Asian Development Bank (ADB) on Friday said it has signed a loan of up to $200 million with IndusInd Bank to provide finance to low income women borrowers in rural India.

The seven-year senior loan will go toward IndusInd Bank's microfinance activities.

"ADB is proud to partner with IndusInd Bank in its efforts to expand finance to underserved people in India

Amazon ties-up with Bank of Baroda to offer micro loans

Amazon said it has tied up with state-run lender Bank of Baroda to offer micro loans to its sellers, reported PTI. The loans will be offered on invite-only basis to the marketplace sellers. The programme was piloted by Amazon in July this year in association with the bank. The loans will be extended in the range of Rs one lakh to Rs 25 lakh at an annual interest rates between 10.45 per cent and

LIC Housing Finance to raise Rs 55,000 cr through NCDs

Housing mortgage lender LIC Housing Finance Ltd on Friday said it will be raising about Rs 55,000 crore through issuing non-convertible debenture this year for business purposes.

"We will be raising Rs 55,000 crore issuing non-convertible debentures this year. Till August we have raised Rs 17,000 crore," Managing Director & CEO Vinay Sah told reporters here.

He

SAIL reports 18% rise in August sales

Steel Authority of India Ltd (SAIL) reported a 18 per cent jump in sales during August over the corresponding month last year, reported PTI. "SAIL, is running a nation-wide campaign...Which is aimed at boosting steel consumption in country. This has started to reflect positively through the dealer sales numbers, which recorded an 18 per cent jump in the month of August 2017 over CPLY (corr

Equities close flat on weak global cues, profit booking

Weak global cues on the back of recurring geo-political tensions, coupled with profit booking in banking, capital goods, FMCG and healthcare sectors, subdued investors' sentiments and led the key Indian equity indices -- the BSE Sensex and NSE Nifty50 -- to close on a flat note on Friday.

The 30-scrip Sensitive Index (Sensex) of the BSE, which slid into the red during the day'

HDFC Bank surpasses TCS to become 2nd most valued company

HDFC Bank went past Tata Consultancy Services (TCS) to become the country's second most valued firm in terms of market valuation, reported PTI. At the close of trade today, HDFC Bank's market capitalisation (m-cap) stood at Rs 4,75,802.34 crore, which was Rs 92.3 crore more than TCS' Rs 4,75,710.04 crore valuation.

Shares of HDFC Bank Ltd ended flat at Rs 1,843.20, up 0.03

Government seeks advisers for Air India disinvestment

Taking forward the process for Air India divestment, the government invited applications from investment bankers, law firms and other entities to act as advisers for strategic stake sale of the flag carrier, reported PTI. The government has decided on strategic disinvestment of the loss-making Air India, which is staying afloat on taxpayers' funds, and a ministerial panel is working on the

Wipro becomes silver member of The Linux Foundation

Wipro Limited, a leading global information technology services company has said that it has become a silver member of The Linux Foundation and a bronze member of Automotive Grade Linux (AGL). AGL is a collaborative open source project that is bringing together automakers, suppliers and technology companies to accelerate the development and adoption of a fully-open software stack for connected

Equities slip on weak global cues, Sensex in red

Two key Indian equity indices -- the BSE Sensex and NSE Nifty50 -- slipped during the mid-afternoon trade session on Friday on the back of North Korea's missile launch over Japan along with profit booking in banking, capital goods and metal stocks.

The 30-scrip Sensitive Index (Sensex) of the BSE slid to red after six consecutive sessions of trading with gains.

At 12.45

Honda Cars India revises prices after GST cess hike

Honda Cars India on Thursday said it has increased prices of its Honda City, Honda BR-V and Honda CR-V models.

According to the company, the revised prices became effective from September 11 due to the additional compensation cess in GST.

 

Google to launch mobile payment service in India - report

Alphabet Inc's Google plans to introduce a localised digital payment service in India as early as next week, technology website TechCrunch reported, citing a report from news site The Ken.

The payment service, called Google 'Tez', will offer payment options beyond the existing ones like Google Wallet or Android Pay, the report said. 

Tez, meaning fast in Hin

SAT to decide on Rs 275 cr refund to policy holders: SBI Life Insurance

The Securities Appellate Tribunal (SAT) has to decide on the refund of around Rs 275 crore to policy holders, a senior official of SBI Life Insurance Company said on Thursday.

"The case is pending in SAT. We have no say on it now," SBI Life Insurance President M. Anand told reporters here.

It has been more than two years since the Insurance Regulatory and Developme

Infosys` arm positioned as Leader by Gartner`s Magic Quadrant

Infosys has said that its US based subsidiary Infosys McCamish Systems has been positioned as a ‘Leader’ in Gartner’s Magic Quadrant for Life Insurance Policy Administration Systems (PAS) for North America. The Gartner Magic Quadrant evaluated vendors that provide Policy Administration Systems (PAS) for individual and group life and annuity products; on two primary criteria &n

McLaren Tech Group partners Wipro for digitization services

Leading IT firm, Wipro has said that it has become the official technology partner to McLaren Technology Group to help drive digitalization across its businesses. “Wipro will assist McLaren with achieving it defined IT strategy, focusing on providing next-generation differentiated IT services to its business divisions with an emphasis on agility and improved reliability,” the compan

Tata Chemicals in talks with Indorama to sell Haldia unit

Tata Chemicals has said it is in advanced talks with the Netherlands-based Indorama Holdings BV to sell its Haldia fertiliser unit in West Bengal for Rs 400- 500 crore. Indorama Holdings is a subsidiary of Singapore-based Indorama Corporation.

"The parties have a mutually agreed exclusivity agreement in this regard which expires on 31st October, 2017," Tata Chemicals said in

IDFC Bank allots 99930 equity shares under ESOP

Private sector lender IDFC Bank on Thursday said it has allotted 99930 fully paid up equity shares of Rs 10 each to the employees in terms of IDFC Bank Employee Stock Option Scheme 2015.

“The Allotment and Share Transfer Committee of IDFC Bank met today and allotted 99930 fully paid up equity shares of Rs.10 each to the employees in terms of IDFC Bank Employee Stock Option Schem

HCL Infosystems CFO Murali quits

HCL Infosystems Ltd's Chief Financial Officer (CFO) S.G. Murali has resigned to pursue new career opportunities, the software major said on Thursday.

"Murali has informed the company about his decision to relinquish the group CFO position from Friday to pursue new career opportunities," the IT major said in a regulatory filing on the BSE.

Murali joined the Noid

Equities close flat; healthcare, banks stocks in green

Key Indian equity indices -- the BSE Sensex and NSE Nifty50 -- provisionally closed on a flat note on Thursday, with healthy buying in healthcare and banking stocks.

The wider 51-scrip Nifty50 of the National Stock Exchange (NSE) was up 7.30 points, or 0.07 per cent, to provisionally close (at 3.30 p.m.) at 10,086.60 points.

The 30-scrip Sensitive Index (Sensex) of the BSE,

Idea Cellular expands network to 2.6 lakh cell sites

Idea Cellular on Thursday said it has expanded its network to 260,000 sites across the country, with 50 per cent sites dedicated to mobile broadband services.

According to the company, it added nearly 50,000 broadband sites over the last 12 months ending August 2017 -- growing its broadband footprint to cover 5,888 towns and nearly 105,755 villages -- reaching out to 45 per cent popul

Cyient sells 49% stake in IASI to Pratt & Whitney

Cyient Limited has signed an agreement to divest its 49 per cent equity ownership in Infotech Aerospace Services, Inc (IASI) to Pratt & Whitney, a division of United Technologies Corporation.

IASI, a 51:49 joint venture between Pratt & Whitney and Cyient, provides aerospace defence design, development and related services, primarily to United Technologies and its business unit

Coal India emphasises on quick, swift exploitation of domestic reserves

State-run miner Coal India Ltd is emphasising on "quick" and "swift" exploitation of the domestic fossil fuel reserves in order to meet future demand and reduce imports, an official said here on Thursday.

"The large planned new coal based thermal capacity is likely to put pressure on coal resources. Coal based power generation capacity of 125 gigawatt in 2012

Hindalco plans to prepay Rs 1,100cr debt this month

Hindalco Industries, an Aditya Birla Group company, plans to prepay another Rs 1,100-crore debt this month to further deleverage its balance sheet. "We have already repaid Rs 7,815 crore and plan to repay another Rs 1,100 crore in the current month, which will save interest cost of Rs 800 crore in the current fiscal," Hindalco chairman Kumar Mangalam Birla told shareholders at the com