Green panel defers decision on JSW Cement's Gulbarga project

A central green panel has deferred decision on granting environment clearance (EC) to JSW Cement for its Mogla Limestone Mine project in Gulbarga, Karnataka, because the mine lease area is sub-judice, reported PTI. The proposal is for production of 4.51 million tonnes per annum of limestone-ROM from a mine lease area of 404 hectare in Mogla village in Gulbarga district.

The Expert Adv

Tata Steel, Thyssenkrupp merger talks face extensive delays

LONDON  - Investors expecting a deal this year in Tata Steel's talks to merge its European assets with Germany's Thyssenkrupp risk disappointment, given complications associated with the Indian-owned firm's British pension scheme.

Tata and Thyssenkrupp shares have firmed on hopes a merger would trigger European steel capacity cuts. Tata Steel UK, Brit

L&T, Europe's MBDA to form Indian missile venture

MUMBAI  - Indian engineering conglomerate Larsen & Toubro Ltd (L&T) and European missile maker MBDA on Monday said they have agreed to form a joint venture to build and supply missile systems for the India army.

The venture will be established in the first half of 2017 and will bid for new contracts under rules for indigenous defence firms, the pair said

India navy spurns homemade warplane, latest blow to Asia push for self reliance

BENGALURU/NEW DELHI  - India's navy is in the hunt for a new foreign fighter jet after rejecting an indigenously made aircraft as too heavy, the latest sign of the struggle to get Asian militaries to buy locally to grow their defence industries.

The navy last month invited manufacturers to pitch for 57 planes for its aircraft carriers, a multi-billion dollar

Sunteck Realty Q3 net jumps over 3-fold to Rs 20.6 cr

Sunteck Realty Ltd today reported an over three-fold jump in consolidated net profit at Rs 20.60 crore for the third quarter ended December. Its net profit stood at Rs 5.58 crore in the year-ago period, the company said in a regulatory filing. Income from operations increased to Rs 83.68 crore in the third quarter of this fiscal from Rs 77.11 crore in the corresponding period of previous year.

Vodafone rolls out 4G services in Goa

Riding on around 50 per cent market share in Goa, Vodafone India Limited announced the rolling out of 4G in the coastal state which is expected to boost the sales of the company, reported PTI. "With around 8.5 lakh connections in Goa we have touched almost 97 per cent of the population in the State," Ashish Chandra, Business Head (Maharashtra and Goa Circle) of Vodafone India Limited

Equities close flat ahead of macro-data release

 Indian equities markets closed on a flat-to-positive note on Monday as positive global cues and inflow of foreign funds buoyed investors' sentiments.

However, caution prevailed ahead of the release of key macro-economic inflation data points -- the Consumer Price Index (CPI) and Wholesale Price Index (WPI) -- slated to be released on February 13 and 14.

Besides, a

CCI rejects complaint of unfair biz practices by GTIPL at JNP

The Competition Commission has rejected complaints that Gateway Terminals India Ltd indulged in unfair business practices with respect to services of container freight stations at Jawaharlal Nehru Port, Mumbai, reported PTI.

It was alleged that Gateway Terminals India Pvt Ltd (GTIPL) diverted traffic from its terminal in Mumbai to Pipavav port in Gujarat to increase profits and compel

Motherson Sumi Q3 net profit up 28.24% at Rs 547.32 cr

Auto component maker Motherson Sumi Systems Ltd (MSSL) today reported a 28.24 per cent increase in consolidated net profit at Rs 547.32 crore in the third quarter ended December. The company had posted a consolidated net profit of Rs 426.77 crore in the same period of last fiscal, it said in a filing to the Bombay Stock Exchange.

Its total income from operations during the period unde

Uflex Q3 net down 6.9% at Rs 74 cr

Packaging company Uflex has reported a 6.88 per cent decline in consolidated net profit at Rs 73.76 crore for the December quarter due to higher tax outgo. The company had posted a net profit of Rs 79.21 crore during October-December quarter a year ago, Uflex said in a statement. Its total income was up marginally 0.91 per cent to Rs 1,495.90 crore during the quarter under review as against Rs

Power Grid sees huge opportunity in rly line electrification

The Indian Railways' plan to electrify 24,000 kms of railway lines in the next five years is a huge opportunity for state-run Power Grid Corporation (PGCIL) for providing its expertise through consultation as well as complete turnkey project development, a senior company official said as per the PTI report. PGCIL has already been awarded the contract to electrify 761 km of rail lines at a c

Drivers' strike paralyses Uber, Ola services in Delhi

NEW DELHI - A strike in Delhi by thousands of Uber and Ola drivers demanding better pay has paralysed the ride-hailing services that have grabbed business from traditional taxi and rickshaw operators with their cheaper fares.

Commuters faced delays for a fourth day even as the city-state's government laid on extra buses to help them get to work, after drivers stop

Reliance Defence to maintain USN's 7th Fleet ships

Reliance Infrastructure Limited (RInfra)-controlled Reliance Defence and Engineering Limited (RDEL) has signed the Master Ship Repair Agreement (MSRA) with the US Navy to maintain the vessels of its Seventh Fleet operating in the region, with the company estimating revenues of about Rs 15,000 crore ($10 billion) over next 3 -5 years.

The Reliance Shipyard at Pipavav in Gujarat, one of

NHAI to float bids for monetising 10 proj by April

Buoyed by response from institutional investors from the Middle-East, Canada and the US, NHAI plans to come out with bids for monetisation of 10 out of 75 public-funded national highway projects in the first phase.

The move follows the government's decision in August last year authorising the National Highways Authority of India (NHAI) to monetise public-funded highway projects in

Infosys management seeks to ease tensions with founders

By Sankalp Phartiyal and Euan Rocha

MUMBAI - Management at Infosys Ltd attempted on Monday to allay concerns that the software services firm was facing a worsening dispute with its founders over how the company was being run, saying that the board was engaging with the founders, including N.R. Narayana Murthy.

India's second-biggest IT services comp

Blue Star unveils new inverter split AC

Air conditioning major, Blue Star Limited, has said that it has launched its new inverter split AC which gives cooling in decimals. With this launch, the company has set a new benchmark in the air conditioner industry by offering inverter split air conditioners that give the user precise cooling as desired so that one is always perfectly comfortable.

The latest range of air conditione

Reliance Communications December-qtr slips into losses at Rs 531 cr

Telecom operator Reliance Communications Ltd (RCom) has reported that its October-December quarter of FY17 slipped into net loss at Rs 531 crore, weighed down by free 4G services being offered by Reliance Jio. “The consolidated PAT of the Anil Ambani-led company stood at Rs 303 crore during the same period a year ago,” Reliance Communications Ltd said in a filing to the Bombay Stock

Coal India’s profit drops 20% in December-qtr at Rs 2,884 cr

India’s one of the Maharatna company Coal India Ltd (CIL) has reported a decline of 20.3 per cent in its consolidated net profit after taxes (PAT) at Rs 2,884.47 crore for the October-December quarter of FY17. “The consolidated net profit of the company stood at Rs 3,617.18 crore during the same period a year ago,” Coal India Ltd said in a filing to the Bombay Stock Exchange.<

Sensex little changed; Idea Cellular, Bank of Baroda biggest drags

Indian shares were little changed on Monday with losses in financials such as Bank of Baroda Ltd and telecom company Idea Cellular Ltd outweighing gains in IT stocks.

However, investor sentiment was upbeat as Asian shares ticked up on renewed optimism over U.S. President Trump's tax reform plans and his change of tack to agree to honour the "one China" policy.

Quarterly results, rupee movement to drive equities markets

Macro-economic inflation data, amidst the last batch of third quarter results, along with global cues are expected to chart the movement of the equities markets during the upcoming week.

Moreover, trends in the ongoing state assembly elections, followed by the trajectory of the Indian rupee and global commodity prices, will decide investors' position.

"Inv

Reliance Defence reduces net loss in Q3

Reliance Defence and Engineering Ltd on Saturday reported a standalone net loss of Rs 133 crore for the third quarter (October-December) of fiscal 2016-17, which is 55 per cent lower than net loss of Rs.294 crore incurred in same period year ago.

In a regulatory filing to the BSE, the city-based company said gross revenue (standalone) for the quarter under review (Q3), however, zoomed

Coal India`s net profit falls 20.25% in Q3

 Coal India Ltd (CIL) on Saturday reported a 20.25 percent fall in consolidated net profit to Rs 2,884.47 crore in the quarter ended December 31, 2016 against Rs 3,617.18 crore in the corresponding quarter last year.

Its net sales for the quarter stood at Rs 19,704.45 crore, up 3.8 percent from Rs 18,971.48 in the year-ago period.

The miner produced 147.73 million tonne

RCOM posts Rs 531 cr loss in Q3

Reliance Communications has posted a net loss of Rs 531 crore for the third quarter of the current fiscal, a company statement said here on Saturday.

The company has attributed the loss to three factors.

Citing the reasons, the company said: "The industry witnessed unprecedented competitive intensity. This was the first full quarter after company's complete shutdown

Idea Cellular Q3 loss at Rs 478.9 crore

 Idea Cellular reported a loss of Rs 478.9 crore for the third quarter of the current fiscal, a company statement said here on Saturday.

"The Indian mobile industry witnessed an unprecedented disruption in the quarter of October to December 2016, primarily due to free voice and mobile data promotions by the new entrant in the sector," the statement said.

The c

ITC plans to set up multi-speciality hospitals

Cigarette-to-hotel-to-FMCG major ITC Ltd on Friday said it has planned to set up multi-speciality hospitals in order to tap medical tourism segment in India by leveraging its expertise and knowledge in hospitality sector.

The firm sought shareholders' nod through a special resolution for altering of the objects clause of the memorandum of association of the company to facilitate g