Godrej consumer products raises stake in Weave Senegal

Godrej consumer products has said in a filing to the Bombay Stock Exchange that the company, through its subsidiary, has increased its stake from 51 per cent to 100 per cent in Weave Senegal Limited. The Company, through its subsidiary, has also reduced one layer of non-operational investment holding company in Mauritius.

Godrej Consumer Products Limited is an Indian consumer goods co

Larsen & Toubro Ltd Realty sells stake in Chennai township project for Rs 190-cr

L&T's arm L&T Realty has sold its 51 per cent stake in a township project at Chennai for Rs 190 crore to an investment firm Pragnya group, reported PTI. "L&T Realty Ltd, a wholly-owned subsidiary of Larsen & Tourbo Ltd, has executed a share purchase agreement for selling its entire stake in L&T South City Projects Pvt Ltd to Pragnya group," the construction fir

Rupa & Co to sell US brand 'Fruit of the Loom' products in India

Rupa & Company on Tuesday said its wholly-owned subsidiary Oban Fashions Pvt. Ltd. has entered into a licence agreement with Fruit of the Loom Inc., a subsidiary of Berkshire Hathaway Company, to manufacture, distribute and sell innerwear and outerwear products of the US brand in India.

"Oban Fashions Private Ltd, a wholly owned subsidiary of Rupa & Company, has on March

Rupee hits 16-month high, but shares flat ahead of Fed decision

MUMBAI  - The Indian rupee hit a 16-month peak against the dollar on Wednesday on hopes of increased foreign investments in equities, but the stock market flattened a day after the NSE index hit a record high.

Meanwhile, benchmark 10-year bond yields fell 3 basis points to 6.87 percent after data released late on Tuesday showed that February consumer inflation ca

BSE launches futures on S&P BSE SENSEX 50 index

Asia's oldest bourse BSE on Tuesday launched futures on S&P BSE Sensex 50 index which will help investors to achieve portfolio diversification.

"The market participants would be able to take a long-term view on the underlying. Introduction of additional indices will also lead to increased participation in the index futures market," it said in a statement.


Vistara enters into codeshare agreement with SIA Group

Full-service airline Vistara on Tuesday entered into a codeshare agreement with Singapore Airlines (SIA) and its regional subsidiary SilkAir.

A codeshare agreement allows two airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. 

Vistara is a New Delhi-based joint venture between Tata Sons and SIA. 

Sun Pharma's Mohali plant out of US FDA's Import Alert list

Drug major Sun Pharmaceutical Industries Ltd on Tuesday said its production facility in Mohali in Punjab is out of US Food and Drug Administration's (US FDA) "Import Alert".

In a statement, Sun Pharma said the US FDA on Monday informed that it will lift the Import Alert imposed on the Mohali manufacturing facility and remove the facility from the Official Action Initiate

India's retail inflation picks up to 3.65 percent in February

NEW DELHI - India's annual consumer price inflation rose to 3.65 percent in February, mainly driven by food prices, after touching its lowest level in at least five years in January, government data showed on Tuesday.

Economists polled by Reuters had expected last month's annual retail inflation to come in at 3.58 percent, compared with 3.17 percent in January

Indian assets soar on election win amid wider stocks rally

By Claire Milhench

Indian stocks hit record highs and the rupee firmed on Tuesday as landslide regional election wins bolstered the government's reform agenda, while emerging stocks rose to near two-week highs.

MSCI's broad emerging equities index rose 0.3 percent with Russia and Korea among the outperformers, the latter closing up 0.8 percent at a more than 20-month

Nifty ends above 9,000 after hitting record high; Sensex at two-year high

The Nifty closed above the key 9,000 level on Tuesday for the first time ever, having risen as much as 2.1 percent to a record high earlier, as Prime Minister Narendra Modi's resounding win in state elections was seen bolstering his economic reform agenda and the chances of a second term.

The Nifty ended 1.7 percent higher, after earlier hitting a peak of 9,122.75, surpassing its

RBI processes Sovereign Gold Bonds demat requests

Putting at rest the Sovereign Gold Bonds (SGBs) investors' worries over the pending dematerialisation (demat) of their allotted bonds, the RBI on Tuesday announced it had processed the demat requests, with the exception of those with incomplete details.

"The requests for dematerialisation have largely been processed successfully," the Reserve Bank of India said in a rele

Uber launches selfie powered Real-Time ID check in India

For the security of both riders and drivers, cab-aggregator Uber has launched a Real-Time ID Check in India that prompts drivers to take a selfie before they accept rides.

The latest security feature using Microsoft Cognitive Services to instantly compare selfie to the one corresponding with the account on file.

According to a Uber blog post on Monday, this feature prevents

Sun Pharma says FDA to lift ban on Mohali drug plant

MUMBAI - India's largest drugmaker Sun Pharmaceutical Industries said U.S. regulators plan to lift a ban on its Mohali plant in northern India, paving the way for a resumption of exports to the company's biggest market after four years.

The move would come as a boost to Sun, whose U.S. growth has been hit over the past year as five of its plants face supply re

Loyal Equipments bags order worth Rs 82.68 lakh from Essar Oil

Loyal Equipments said that it has received an order from ESSAR OIL of worth Rs. 82.68 lakhs. “The Company has received an order from ESSAR OIL LIMITED of worth Rs. 82.68 lakhs for Supply of Tube Bundle for its Vadinar Plant in Gujarat, India,” the company said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the company were trading at Rs 49.00 apiece, up 4.26 per cent

SBI creates wholly-owned subsidiary to manage real estate

The country's largest lender State Bank of India has incorporated a specialised firm -- SBI Infra Management Solutions Pvt Ltd (SBIIMS) -- that will manage its premises and real estate property across the country. The move is seen as public sector banks' efforts to exit non-core activities to improve balance sheet as they have piled up huge bad assets over the past few years.

India's wholesale prices up 6.55 percent in February

NEW DELHI - India's wholesale prices rose a more-than-expected 6.55 percent year-on-year in February, compared with a 0.85 percent fall a year ago, driven by fuel and food prices, government data showed on Tuesday.

The data compares with a 5.90 percent annual rise forecast by economists in a Reuters poll. In January, prices rose a provisional 5.25 percent, the fas

IL&FS Transportation sells stake in APEL for Rs 140 cr

IL&FS Transportation said it has sold its entire stake in Andhra Pradesh Expressway (APEL) to Cube Highways & Infrastructure, Singapore for Rs 140 crore, reported PTI. The company had earlier entered into a share purchase pact with Cube Highways & Infrastructure for sale of equity in APEL. "...The execution of share purchase agreement with Cube Highways & Infrastructure, Si

Tata Elxsi ties up with DiSTI to make e-Cockpit Demonstrator

DiSTI Corporation has announced a strategic partnership with Tata Elxsi to deliver DiSTI's GL Studio UI products with Tata Elxsi software services, reported PTI. The DiSTI Corporation is a leading provider of graphical user interface software and customised 3D virtual maintenance training solutions. "Tata Elxsi developed their e-Cockpit demonstrator using DiSTI's GL Studio UI Desig

Welspun Steel gets green nod for Rs 14,690-cr Gujarat project

Welspun Steel Ltd (WSL) has received environmental clearance for setting up an integrated steel plant with production capacity of 3 million tonnes per annum in Gujarat at an estimated cost of Rs 14,690 crore. The proposed steel plant, to be set up in Anjar tehsil in Kutch district, aims to provide steady supply of slabs to group company Welspun Corp Ltd (WCL) which makes heavy plates and hot ro

Mphasis gets shareholder nod to buy back 1.73 crore shares

IT services provider Mphasis on Monday said that its shareholders have approved the proposal to buyback 1.73 crore equity shares worth about Rs 1,103 crore. The proposal to buy back 1,73,70,078 equity shares at a price not exceeding Rs 635 per share has been approved by shareholders, the company stated in the voting results on the proposal, in a BSE filing on Monday.

According to the

Mahindra & Mahindra divests 7.5% stake in Mahindra Holidays

Auto major Mahindra & Mahindra Ltd (M&M) on Friday said it had divested its 7.5 per cent share holding in its subsidiary, Mahindra Holidays & Resorts India Ltd (MHRIL). In a filing to the Bombay Stock Exchange, M&M said, “Pursuant to approval of the board of directors, the company has today sold 66,58,565 equity shares representing 7.5 per cent of the share capital of Mahi

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