IndiGo parent to privately place up to 33.6 million shares

InterGlobe Aviation Ltd, the owner of IndiGo airlines, said its board had approved issuance of equity shares up to 33.6 million to qualified institutional buyers.

The placement includes issue of fresh equity shares of up to 22.4 million and offer for sale of up to 11.2 million shares by promoters, including Rakesh Gangwal and Chinkerpoo Family Trust, InterGlobe said in a stock exchang

M&M likely to be most impacted due to GST cess hike: Jefferies

Investment banking firm Jefferies on Monday said that automobile major Mahindra and Mahindra (M&M) which has a number of "larger UVs (utility vehicles)" in its portfolio, is likely to be impacted the most by the recent decision of the GST Council to hike the cess on luxury cars and SUVs.

"The GST Council hiked cesses on larger cars/UVs by 2-7 per cent. M&M, whic

Essar Oil shuts coker at Vadinar refinery for two weeks: source

NEW DELHI  - Essar Oil has shut the delayed coker unit at its 400,000 barrels-per-day Vadinar refinery in Gujarat state for two weeks of maintenance from Monday, a source with direct knowledge of the matter said.

The delayed coker unit, which converts vacuum residue into higher value products like gasoline and gasoil, has an annual capacity of 7.5 million tonnes.

Airtel launches Voice over LTE, services go live in Mumbai

Bharti Airtel on Monday announced the launch in Mumbai of its Voice over LTE (VoLTE) services which it plans to roll out across the country over the next few months.

Airtel VoLTE, which works over 4G, will offer customers HD quality voice calls along with faster call set up time, the company said in a statement.

"This is a significant milestone in Airtel's network t

Nifty closes at over 1-month high

The Nifty rose 0.7 percent on Monday to close above 10,000 points for the first time in more than a month, as auto makers such as Maruti Suzuki Ltd gained after an increase in the goods and services tax was less wide-ranging than expected.

The BSE Sensex climbed 0.61 percent to 37,882.16, while the broader NSE Nifty rose 0.72 percent to 10,006.05, closing above the 10,000 level for th

CIL to auction 25 mt coal for non-regulated sector by December/January

State-owned Coal India will kick off the next round of coal auction aimed at the non-regulated sector, including those dealing in sponge iron, by this year- end or early 2018. The decision comes as a dozen power plants are staring at a bleak scenario for want of coal. "Of a little over 50 mt of coal earmarked for the ongoing fiscal for the non-regulated sector, including sponge iron, cemen

Ashoka Buildcon gets extension in concession period from PWD

Ashoka Buildcon said that it has got an extension in Concession Period by one year, up to September 9, 2018 from Public Works Dept. of the State of Maharashtra (PWD) for its Project. Ashoka Buildcon Limited in a filing to the Bombay Stock Exchange said that the Public Works Dept. of the State of Maharashtra (PWD) has given an extension in Concession Period by one year i.e. up to September 9, 20

Janalakshmi Financial raises $161 million from TPG, others

Indian microlender Janalakshmi Financial Services, which is setting up a so-called small finance bank, has raised 10.30 billion rupees ($161.3 million) from existing and new investors in a fresh round of funding led by TPG.

TPG is investing a "significant amount", Janalakshmi said on Monday, adding that current investors Morgan Stanley Asia-managed PE fund Treeline, QRG Ente

Sanofi India launches Combiflam ICYHOT pain relief

Sanofi India said that it has added one more product in the company’s consumer healthcare portfolio in the pain care segment – Combiflam ICYHOT, a topical analgesic. The over-the-counter product is available in two formats i.e. gel and spray, for relief to people suffering from muscle pains and sprains, the company said in a fling to the Bombay Stock Exchange.

On applicati

Lupin receives USFDA nod for generic Vibra-Tabs tablets

Pharma major, Lupin Ltd said that it has received approval from the US health regulator for generic version of Vibra-Tabs. "...has received final approval for its Doxycycline Hyclate tablet USP, 100 mg from the United States Food and Drug Administration (FDA) to market in the US," the pharma major said in its filing.

Doxycycline Hyclate tablet is the AB rated generic equival

Infosys completes acquisition of UK-based Brilliant Basics

In a bid to build on 'Design Thinking' approach, Infosys on Monday announced it has completed the acquisition of London-based product design and customer experience company Brilliant Basics.

The acquisition extended Infosys' digital design services network to include Europe and the Middle East, enhancing the company's expertise across financial services, retail and tel

Petronet set to buy extra 1 million tonnes Australian LNG from Exxon: sources

NEW DELHI - India's Petronet LNG has agreed to buy an additional one million tonnes of liquefied natural gas (LNG) from ExxonMobil's share of the Gorgon project in Australia, two sources said on Monday, after the global giant eased the terms of a previous deal.

Petronet will buy the LNG on delivered basis with a price equivalent to about 12.5 percent of Brent

Onward Tech enters into partnership with Dassault Systèmes

Onward Technologies has said that it has entered into a partnership with Dassault Systèmes India Business Transformation channel to accelerate the adoption of Dassault Systèmes portfolio of applications and industry solution experiences based on the 3DEXPERIENCE platform in the Indian sub-continent market.

“The agreement will enable Onward Technologies to expand it

Infosys to get freehold land for its maiden venture in Bengal

The West Bengal government decided to allow IT major Infosys to get land on freehold basis for its first IT development centre in the state, reported PTI. The company had purchased 50 acres from the government at Rajarhat for the project. Speaking about the outcome of the cabinet meeting, State Education Minister Partha Chatterjee said that earlier the land was given IT major on lease for 99 ye

RBL Bank unveils digital product for LIC MF customers

Leading private sector bank, RBL Bank has said that it has launched its digital product - Insta Redemption Solution - exclusively for LIC Mutual Fund, at the LIC Mutual Fund Head Quarters in Mumbai. “The event was held in the presence of Rajeev Ahuja, Executive Director, RBL Bank, and Brijesh Mehra, Head - Corporate, Institutional and Transaction Banking, RBL Bank, Raj Kumar, CEO, LIC Mut

Wipro ranked as ‘Leader’ in Robotic Automation by Zinnov

Wipro Limited, a leading global information technology, consulting, and business process services company has said that it has been ranked as a ‘Leader’ in Robotic Automation Services by Zinnov, a leading digital transformation & globalization focused management consulting company. “The Zinnov Zones for Robotic Automation Services 2017 report positions Wipro in the Leaders

Global cues, index heavyweights lift equities; Nifty50 reclaims 10k

Positive global cues on the back of easing geo-political tensions, coupled with healthy buying in capital goods, banking and automobile stocks, lifted key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- during the mid-afternoon trade session on Monday.

Index heavyweights like Larsen and Toubro, Maruti Suzuki, HDFC Bank, Hindustan Unilever and Coal India, among others, a

IndusInd Bank in talks to buy microlender Bharat Financial

MUMBAI  - IndusInd Bank Ltd has entered into exclusive talks to acquire microlender Bharat Financial Inclusion Ltd, in a deal that will help the private sector bank to expand its consumer business.

IndusInd and Bharat Financial have entered into exclusive talks for a potential strategic combination, both sides said in separate statements on Monday, without provid

Macro-data, global cues to drive equity markets

Macro-economic data points and the direction of foreign funds' flow are expected to influence sentiments of investors and set the tone for the Indian equity markets in the upcoming week, feel senior analysts.

Other important factors such as the geo-political situation in the Korean peninsula, rupee's movement and government's measures to tackle the non-performing assets (N

GMR Infrastructure a to seek shareholders` approval to raise upto Rs 2,500 cr

GMR Infrastructure on Saturday said that it plans to seek shareholders' approval for raising funds up to Rs 2,500 crore.

According to a filing with the BSE, the company said that it will seek the shareholders' nod at its 21st annual general meeting on September 29, 2017.

"Approval of the shareholders is being sought inter-aila, for raising of funds, up to Rs 2,5

Equities slip on weak global cues, DIIs outflows

Weak global cues on the back of geopolitical concerns, coupled with sustained outflow of foreign funds, led Indian equity indices -- the BSE Sensex and the NSE Nifty -- to close the week's trade in the negative zone after three consecutive weeks of gains.

On a weekly basis, the 30-scrip Sensitive Index (Sensex) of the BSE lost 204.71 points or 0.64 per cent to close at 31,

SEBI proposes tighter ratings agency rules

MUMBAI  - India's capital markets regulator proposed additional changes to credit ratings agencies on Friday, including a restriction on cross-holdings and spinning off non-ratings businesses.

The move comes just months after the watchdog set tougher rules, including mandating ratings agencies to more closely monitor whether issuers are meeting their debt obl

India slaps additional tax on some Chinese stainless steel imports

NEW DELHI - India has imposed an additional import tax on certain stainless steel flat products from China for five years in order to curb influx of cheaper foreign imports, a government statement said on Friday.

The government imposed 18.95 percent countervailing duty on some hot-rolled and cold-rolled stainless steel flat products, a first such levy on a steel produ

Sensex ends up, but posts first weekly loss in four

Indian indexes ended slightly higher on Friday led by shares of some metals firms as commodity prices rallied, but the unease in global markets about North Korea put a lid on gains.

The BSE Sensex ended 0.08 percent higher at 31,687.52, while the broader NSE Nifty closed 0.05 percent up to 9,934.80.

Both indexes, however, ended the week lower, snapping a third weekly run of

Turkey's Celebi keen to buy Air India's ground handling unit

By Aditi Shah

NEW DELHI - Turkey's Celebi Aviation Holding has shown interest in buying state-owned Air India's ground handling operations, India's aviation secretary Rajiv Nayan Choubey said on Friday.

Celebi, which also provides ground handling services in India, has written to the ministry showing interest to bid for the Indian flag carri