Election results lift equity markets

Indian equity markets surged during the mid-afternoon trade session on Tuesday following crucial state election results declared on March 11.

Besides, investors' sentiments were lifted by a strong rupee, broadly positive global cues and healthy buying witnessed in banking, capital goods and automobile stocks.

The key indices witnessed a gap up opening and traded with gai

ICICI Bank, SBI saw most frauds in first 3 quarters

 Private sector ICICI Bank suffered the most number of frauds during the first nine months of the current fiscal, while state-run State Bank of India took second place in this regard, Reserve Bank of India (RBI) has revealed.

Data pertaining to the April-December period of 2016 provided to the Finance Ministry by the apex bank earlier this week, showed as many as 455 fraud cases

Narendra Modi's BJP sees bigger mandate in 2019 after Uttar Pradesh landslide

NEW DELHI  - Prime Minister Narendra Modi's party expects national elections in 2019 to deliver an even bigger mandate than in 2014, its leaders said on Sunday, buoyed by a thumping victory in Uttar Pradesh.

As well as winning in the country's most politically important state with the biggest majority for any party since 1977, Modi's Bharatiya Janata

Markets head for positive opening on Tuesday following elections' outcome

Following the outcome of elections to five state assemblies, market analysts have predicted a positive opening for the Indian equity markets on Tuesday.

With the BJP set to return to power in Uttar Pradesh (UP) after 15 years and the Congress gaining the lead in Punjab, market observers were of the view that the victory of the BJP in UP has great political importance and would infuse

Coal India subsidiary CCL shelves Rs 1,002 cr buyback proposal

Coal India on Saturday said its wholly-owned subsidiary Central Coalfields Limited (CCL), which had approved a Rs 1,001.88 crore buyback proposal, has decided "not to proceed" with the plan.

"..the Board of Directors of CCL at its meeting held on March 10, 2017 has, after reviewing the limited reviewed unaudited financials of the company ended December 31, 2016 based on

Equities resume bull run on foreign funds' inflow, strong rupee

Indian equity markets resumed their bull run during the just concluded weekly trade session, as hefty inflow of foreign funds, a strong rupee and positive global cues enhanced the risk-taking appetite of investors.

Besides, investors factored in a BJP victory in Uttar Pradesh, which helped to sustain positivity in the equity markets.

However, caution ahead of a possible inte

Markets head for positive opening on Tuesday following elections' outcome

Following the outcome of elections to five state assemblies, market analysts have predicted a positive opening for the Indian equity markets on Tuesday.

With the BJP set to return to power in Uttar Pradesh (UP) after 15 years and the Congress gaining the lead in Punjab, market observers were of the view that the victory of the BJP in UP is of most political importance and would infuse

Reliance Infra to consider issue of securities via QIP

 Reliance Infrastructure on Friday announced that its board will meet on March 16 to consider the issue of securities through qualified institutional placement (QIP) to qualified institutional buyers (QIB).

As per the regulator Securities and Exchange Board of India's (SEBI) rules, the trading window for dealing in company securities, consequently, "will remain closed fo

Reliance Energy braces to combat hot summer in Mumbai

With the IMD forecast of an exceptionally hot summer this year, Reliance Energy expects the summer peak demand to cross 1,700 MW power requirement between April-June this year in the city, an official said here on Friday.

The company is prepared to tackle the summer heat and has made full arrangements to cater to the additional power supply requirements of its 2.4 million-plus consume

Volkswagen, Tata Motors plan to cooperate in India

By Aditi Shah and Georgina Prodhan

NEW DELHI/FRANKFURT - German carmaker Volkswagen said on Friday it had signed a memorandum of understanding to explore a partnership with Tata Motors to jointly develop auto components and vehicles for the Indian subcontinent and beyond.

The announcement, which confirms a Reuters story from Thursday, comes as both automaker

NIIT Imperia partners IIM Lucknow for EPBM

NIIT has said that its centre for Advanced Learning Institute, Imperia along with IIM Lucknow has announced the sixth batch for Executive Program in Business Management (EPBM). This one-year part-time certificate program covers all critical functions of Management and is specially designed for professionals who seek to groom their corporate careers for higher levels of responsibilities.

Canara Bank sells 13.45 percent stake in Can Fin Homes

 Indian state-run lender Canara Bank Ltd has sold a 13.45 percent stake in Housing finance arm Can Fin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd for 7.54 billion rupees ($113.12 million), it said on Friday.

The divestment is seen as a part of the monetization process of non-core assets of Canara Bank, the company said in a statement to the exchanges.


State-owned carrier Air India understated losses - CAG

By Aditi Shah

NEW DELHI  - India's state-owned airline Air India understated its operating losses by nearly $1 billion over three fiscal years to March 2015, the federal auditor said in a report, highlighting the carrier's financial distress.

Repeated calls to an Air India spokesman and an email seeking comment went unanswered.

Air Ind

Sensex, Nifty edge up as exit polls show win for Narendra Modi's party

By Darshana Sankararaman

BENGALURU - Indian shares rose on Friday and were set to post small weekly gains after exit polls showed Prime Minister Narendra Modi's ruling party ahead of rivals in an election in the country's most populous state.

Victory for Modi's Bharatiya Janata Party (BJP) in Uttar Pradesh, which is home to 220 million people, wo

DCB Bank extends gain on fund raising plans

Shares of DCB Bank gained nearly 2 per cent on the Bombay Stock Exchange after the private sector lender said its board approved fund raising plan by up to Rs 400 crore through qualified institutional placement (QIP). “In the meeting held on Tuesday, March 07, 2017, has approved raising of capital by way of issue of equity shares to qualified institutional buyers to the extent of Rs 400 c

RBI hikes FII limit in Kotak Mahindra Bank to 42%

The Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest from 40% to 42% of the paid up capital of Kotak Mahindra Bank, under the Portfolio Investment Scheme (PIS). Kotak Mahindra Bank has passed resolutions at its Board of Directors’ level and a special resolution by general body agreeing for enhancing the

Aurobindo Pharma allots 6,97,823 equity shares

Aurobindo Pharma Ltd said that it has allotted 6,97,823 equity shares under ESOP Scheme of the Company. “The Nomination and Remuneration/Compensation Committee of the Company on March 09, 2017 has allotted 6,97,823 equity shares of Re. 1/- each under ESOP Scheme of the Company,” the company said in a filing to the Bombay Stock Exchange.

Consequent to the allotment, the pai

DHFL arm eyes 35% growth in education loan at over Rs 1,200cr

The education loan arm of mortgage lender DHFL, Avanse Education Loans (Avanse), is looking at a 35 per cent growth in total portfolio next year, reported PTI. "Our portfolio stands at over Rs 900 crore and we are looking at a growth of 35 per cent next year," a company spokesperson told PTI. The company today launched 'Swalaksh' - a product that offers 5 per cent scholarship

Tata Motors Group's February global wholesales up 3%

Automobile giant Tata Motors Group on Thursday reported a rise of three per cent in its global wholesales for last month.

"Tata Motors Group global wholesales in February 2017, including Jaguar Land Rover, were at 103,064 numbers, higher by 3 per cent over February 2016," the company said in a statement. 

According to the automobile giant, global wholesales of

SC reserves order on plea against Vijay Mallya

The Supreme Court on Thursday reserved its order on a plea of a consortium of banks, led by State Bank of India, that $40 million, which liquor baron Vijay Mallya had allegedly transferred to his children, needed to be brought back.

A bench of Justice Adarsh Kumar Goel and Justice and U.U. Lalit also reserved its order on their plea seeking initiation of contempt proceedings against M

Sensex ends little changed ahead of state elections results

Indian shares ended little changed on Thursday after two consecutive sessions of declines, as sentiment remained subdued ahead of the results of state elections, including that of the country's most populous state of Uttar Pradesh.

The broader NSE Nifty closed up 0.03 percent at 8,927, while the benchmark BSE Sensex ended 0.09 percent higher at 28,929.13.

Exit polls are

Vedanta pledges to raise women board representation to 33%

Metals and mining conglomerate Vedanta today said it is aiming to increase the representation of women on its board to 33 percent by 2020. The company pledges to raise women board representation to 33 percent by 2020, the global natural resources firm said in a statement. "Hiring women far outpaces that of just diversity and gender inclusion.

Women bring unique insights irrespect

Infosys arm to modernise Texas child welfare info system

Software major's US arm Infosys Public Services on Wednesday announced partnering with the Texas Department of Family and Protective Services to modernise its child welfare information system.

"The Information Management Protecting Adults and Children of Texas system will be modernised to deliver child welfare related services," said the IT firm subsidiary in a statement

Tata Steel UK to close pension scheme, to implement new scheme

Tata Steel UK has completed the consultation process to close its existing pension scheme for its workers from March 31, 2017. A new pension scheme will be implemented from April 1, 2017.

Tata Steel Ltd disclosed the development in a regulatory filing in BSE on Wednesday.

During the consultation process, the company spoke to more than 4,000 employees at more than 90 face-to-

Coffee Day Enterprises plans to raise Rs 300 cr via debentures

Coffee Day Enterprises, which runs Cafe Coffee Day, said its board will meet this week to consider raising up to Rs 305 crore through issuance of non-convertible debentures (NCDs), reported PTI. "...A meeting of Board of Directors of our company is scheduled to be held on Saturday, March 11th...To consider the issuance of rated, redeemable, secured, un-listed non-convertible debentures for