Steel exports surge 102% in 2016-17, imports fall 36.6%

Overtaking imports, India's steel exports jumped by 102.1 per cent in 2016-17 to 8.24 million tonnes (mt), as compared to 4.07 mt shipped out in the previous financial year (2015-16), according to a Steel Ministry's report.

"Export of total finished steel was up by 102.1 per cent in April-March 2016-17 at 8.24 mt over same period of last year. Export in March 2017 at 1.62

Cisco unveils Cyber Range Lab in India

Cisco India on Wednesday inaugurated its Cyber Range Lab here that aims to train security staff to build the skills necessary to combat new-age threats.

As the demand for cyber security experts grows manifold than any other IT job, cyber security workforce has become a priority for many organisations.

"With the cyber security framework in place now, the need is for acti

Indian state refiners to revise fuel price in five cities daily from May 1, sources say

NEW DELHI  - India's state-owned fuel retailers plan to implement daily revision of fuel price in five cities from May 1 ahead of a nationwide rollout of the scheme, industry sources said.

To begin with, daily revision of fuel prices will be implemented in Puducherry and Vizag in southern India, Udaipur in the West, Jamshedpur in the East and Chandigarh in th

12/04/2017 11:21:23 AM | Posted in Commodity Top News read full news
Mercedes-Benz India's January-March sales up by 1%

Luxury carmaker Mercedes-Benz India on Tuesday said that its January-March 2017 sales grew by one per cent to 3,650 units, supported by strong sales momentum in the SUV segment.

"2017 began with a positive drive and we are confident of bettering our sales performance in the coming months," Mercedes-Benz India Managing Director and Chief Executive Officer Roland Folger, was q

Vedanta-Cairn India merger becomes effective

Natural resources major Vedanta Ltd. said on Tuesday that its merger with subsidiary energy firm Cairn India has become effective.

"Vedanta Limited (Vedanta) and Cairn India Limited (Cairn India) today (Tuesday) announced that the merger of Cairn India with Vedanta pursuant to the Scheme of Arrangement has become effective," said both firms in a joint statement. 

Setback for Tatas, Adanis as SC rules out compensatory tariff

The Supreme Court on Tuesday rejected the plea for compensatory tariff by Tata Power and Adani Power Ltd for the additional costs that they were incurring on raised prices of the coal they were importing from Indonesia for their power plants in Gujarat.

The bench of Justice Pinaki Chandra Ghose and Justice Rohinton Fali Nariman said: "The doctrine of frustration cannot apply to t

Key Indian equity indices trade flat during early session

Key Indian equity market indices opened flat on Wednesday following global cues.

The 30-scrip Sensitive Index (Sensex) was trading 3.51 points or 0.01 per cent lower during the early session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 3.30 points or 0.04 per cent lower at 9,233.70 points.

The BSE Sensex, which open

Volvo Auto India hikes prices

Luxury car manufacturer Volvo Auto India on Tuesday said that it has hiked prices across all its model range effective since April 1, 2017 due to the rise in input costs.

The revision ranges from a minimum of Rs 54,200 to Rs 250,000.

According to the company, its entire model range would undergo an upward revision in the ex-showroom prices by up to 2.5 per cent.

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Reliance Jio launches new unlimited 'Dhan Dhana Dhan' tariff plan

 Reliance Jio Infocomm on Tuesday said the Jio Summer Surprise has been fully withdrawn, following the Telecom Regulatory Authority of India's advice and the company has launched new unlimited plans for its Prime members, 'Jio Dhan Dhana Dhan'.

The plans start with Rs 309 all unlimited plan, which provides unlimited SMS, calling and data (1GB per day at 4G speed) for

Wipro completes acquiring Brazilian firm

Software major Wipro on Tuesday announced completing the acquisition of Brazilian IT services firm InfoServer SA for $8.7 million (Rs 59 crore) on Monday.

"We would like to inform that the acquisition of InfoServer has been completed on April 10. The impact of the acquisition is expected to reflect in our financials for the quarter ending June 30, 2017," said the IT major in

India's 2017/18 fuel demand seen up 5.8 percent - government

NEW DELHI - India's annual fuel demand is estimated to grow at 5.8 percent in the fiscal year to March 2018, higher than the previous year, government data showed on Tuesday, indicating improved industrial activity.

Local fuel demand - a proxy for oil demand - in India rose about 5 percent in the last fiscal year as economy slowed in the March quarter after govern

Mining group Vedanta completes buyout of Cairn India

MUMBAI - Indian metals and mining group Vedanta Limited said on Tuesday it had completed its buyout of oil and gas explorer Cairn India Ltd, consummating a deal that was delayed for months by investor opposition.

Cairn India said in a separate statement its board had made the merger effective as of Tuesday.

The deal gives Vedanta Limited, the Indian unit of

India FY 2017-18 passenger vehicle sales seen up 9 percent

NEW DELHI - India's passenger vehicle sales are expected to grow by as much as 9 percent in fiscal 2017-18, before stabalising at a higher growth rate in the coming years, the country's auto industry body said on Tuesday.

This year (starting April 1), demand is likley to be disrupted because of the introduction of a unified tax system and a shift to selling ne

Tata launches indigenous TAL Brabo industrial robots

India's first industrial-articulated robots in different sizes targeted at micro, small and medium enterprises besides large-scale manufacturers, to help increase their efficiency, were launched by Tata Motors Ltd here on Tuesday.

The TAL Brabo, weighing 2-10 kg, and costing between Rs 5,00,000 and Rs 7,00,000 are designed to increase productivity by 15-30 per cent and a payback t

Mahindra & Mahindra, SsangYong to develop electric SUVs by 2020

By Zeba Siddiqui

MUMBAI - Indian automaker Mahindra & Mahindra Ltd and its Korean unit SsangYong Motor Co plan to jointly develop a platform to manufacture electric sport-utility vehicles (SUV) by 2020, the companies said on Tuesday.

"We are now very diligently cooperating with Mahindra to develop the new generation of electric vehicles," Choi

BHEL, Indian Railways partner for rooftop SPV systems

State-run Bharat Heavy Electricals Ltd (BHEL) on Tuesday said it has inked a pact with Indian Railways Organisation for Alternate Fuels (IROAF) for installation of 2 MWp roof top SPV systems at Diesel loco Modernisation Works (DMW), Patiala. “BHEL has bagged one more major order of 2 MWp roof top SPV systems to be installed at Diesel loco Modernisation Works (DMW), Patiala and the contrac

Value buying lifts equity markets higher

Value buying and short covering lifted the Indian equity markets to provisionally close on a positive note during Tuesday's trade session.

Healthy buying was witnessed in banking, IT and pharma stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 55.55 points or 0.61 per cent to provisionally close at 9,237 points.

Th

Ramakrishnan P resigns as Deputy MD of Sobha Ltd

Bangalore-based realty firm Sobha Ltd on Tuesday said that its Deputy Managing Director, Ramakrishnan P, has resigned from the designated post due to personal reasons. “Due to personal reasons, Ramakrishnan P, Deputy Managing Director has tendered his resignation as Deputy Managing Director and Director from the Board of Directors of the company, effective April 07, 2017,” Sobha Ltd

Emami launches its edible oil brands in Bihar

Business conglomerate Emami group has launched its healthy edible oil brand in Bihar to expand its footprint in the state. Emami Group Sales Strategy head Krishna Mohan and its Vice-president Debashish Bhatacharya announced introducing four brands of edible oil in Bihar at a press conference. They said after consolidating its position in the existing market in West Bengal, Emami Healthy & T

Tata Power, Adani Power slump as top court sets aside tribunal order

The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd, sending down shares of both companies.

Shares of Tata Power reversed early gains to fall as much as 6.78 percent, while Adani Power slumped up to 20 percent to its lowest since Feb. 21.

The tribunal, in April last year,

Vedanta says India unit's zinc output up 40 percent in fourth quarter

Diversified miner Vedanta Resources Plc said on Tuesday refined zinc production at its India unit rose nearly 40 percent in the fourth quarter, boosted by higher output at a mine in Rajasthan.

Refined zinc production rose to 215,000 tonnes in the quarter ended March 31, from 154,000 tonnes a year earlier, the company said in a statement.

Full-year integrated zinc production

Flipkart to grow with careful considerations to costs: Binny Bansal

Flipkart Co-founder Binny Bansal said while the latest funding round provides the fuel the company needs to reach its goal of transforming commerce in India through technology, it should continue to grow its business with careful considerations to costs, reported PTI. "I must stress that we still have some distance to go before fulfilling our mission - to transform commerce in India throug

HDFC Bank to raise Rs 50,000-cr in next 12 months

HDFC Bank said it will raise Rs 50,000 crore within a year by issuing debt instruments, reported PTI. The Bank proposes to raise funds by issuing perpetual debt instruments (part of additional tier I capital), tier II capital bonds and senior long term infrastructure bonds up to a total amount of Rs 50,000 crore, the bank said in a regulatory filing.

Perpetual bonds carry no maturity

Equity markets make gains during morning session

The Indian equity markets made gains during the morning trade session on Tuesday following healthy buying in oil and gas, capital goods and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 22.85 points or 0.25 per cent at 9,204.30 points.

The 30-scrip Sensitive Index (Sensex) of the BSE gained 117.96 points or 0.40 per cent

Tata Motors Group's global wholesales up 9%

Tata Motors Group on Monday said its global wholesales, including Jaguar Land Rover, rose by nine per cent in March 2017.

The company said the global wholesales (including Jaguar Land Rover) for the month under consideration stood at 129,951 units -- up nine per cent -- over March 2016.

"Global wholesales of all Tata Motors' commercial vehicles and Tata Da