Macro-data, global cues to set the course of equity indices

 Upcoming macro-economic data points, coupled with global cues, especially the upcoming US Federal Reserve's rate-setting meet and expectations of a revision in Goods and Services Tax (GST) sub-rates will determine the trajectory of equity indices next week, market observers opined.

According to analysts, investors' risk-taking appetite might also regain strength on accou

JLR India plans to expand retail outlets in 2017-18

Luxury automobile manufacturer Jaguar Land Rover (JLR) India on Saturday said that it plans to further expand its retail outlets in 2017-18.

"We currently have 25 retail outlets and are present in 23 major cities across India. We plan to further expand our network by adding 2-3 more retail outlets in FY 2017-18," JLR India Managing Director Rohit Suri told IANS.

Qatar Petroleum says business as usual despite diplomatic rift

RIYADH  - Qatar Petroleum(QP) said on Saturday that it was conducting "business as usual" throughout its upstream, midstream and downstream operations, despite rising diplomatic tensions with its Gulf neighbours.

QP was prepared to take any "necessary decisions and measures, should the need arise, to ensure that it honored commitments to custo

Tata Communications joins Alibaba Cloud to empower enterprises

Tata Communications on Saturday announced a partnership with Alibaba Cloud to enable customers from over 150 countries, including India, connect to Alibaba Cloud's "ExpressConnect" via Tata Communications' "IZO Private Connect" service.

The announcement was made at Alibaba Cloud's Cloud Computing Conference in Shanghai.

By accessing "Expr

Tata Motors implements measures to boost organisational efficiency

Automobile major Tata Motors has implemented internal strategic initiatives to boost organisational efficiency which include scrapping some designation titles.

A company official, who did not wish to be named, said on Friday that the firm communicated this decision to its employees in an internal circular on Wednesday.

The measures are seen as a way to increase efficiency, b

Tata Motors Group's May global wholesales down 1%

Automobile major Tata Motors Group on Friday reported that its global wholesales, including those of Jaguar Land Rover (JLR), last month were lower by one per cent to 86,385 units.

"Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in May 2017 were at 28,310 nos., lower by 13 per cent, over May 2016," the company said in a statement.

SGBs worth Rs 5,400 cr issued: RBI

The Reserve Bank of India (RBI) on Friday said it has so far issued sovereign gold bonds (SGBs) worth Rs 5,400 crore.

According to the apex bank, it has issued eight tranches of SGBs till date. 

"Investors in these bonds have been provided with the option of holding them in physical or dematerialised form," the RBI said in a statement.

The scheme for

Competition body turns down Airtel's complaint against RIL, Jio

The Competition Commission of India (CCI) on Friday rejected Bharti Airtel's complaint against Reliance Industries Limited (RIL) and Reliance Jio alleging anti-competitive practices by them.

"The Informant (Bharti Airtel) has also made contradictory submissions of the impugned free services of OP-2 (Reliance Jio) as being an outcome of leverage of dominant position by OP-1 (R

SEBI approves Limaye's appointment as NSE MD and CEO

The National Stock Exchange of India (NSE) on Friday announced that securities markets regulator SEBI has approved the appointment of Vikram Limaye as its new Managing Director and Chief Executive Officer.

According to the NSE, Limaye's appointment is subject to his being relieved from his current "BCCI (COA)" assignment. 

"The appointment w

Indian regulator says Reliance Jio telecom offers not anti-competitive

MUMBAI  - India's anti-trust regulator said on Friday offers for free voice and data from Reliance Jio Infocomm, a unit of Reliance Industries, did not amount to anti-competitive actions, rejecting a complaint by rival Bharti Airtel.

Bharti had filed its complaint with the Competition Commission of India (CCI) saying Jio, backed by billionaire Mukesh Ambani,

India's plan to develop key Iranian port faces U.S. headwinds

By Nidhi Verma and Sanjeev Miglani

NEW DELHI  - Western manufacturers are shying away from supplying equipment for an Iranian port that India is developing for fear the United States may reimpose sanctions on Tehran, Indian officials say, dealing a blow to New Delhi's strategic ambitions in the region.

Lying on the Gulf of Oman along the approaches

SEBI conditionally approves new head of NSE bourse

By Abhirup Roy

MUMBAI - The Securities and Exchange Board of India (SEBI) on Friday approved the appointment of Vikram Limaye, head of infrastructure lender IDFC Ltd, as the next managing director and chief executive of National Stock Exchange (NSE), subject to his resignation from a cricket committee.

The conditional approval from SEBI, announced by th

Tata Motors reaches wage deal with Sanand plant union

 Tata Motors Ltd reached a long-term wage settlement with workers at Sanand plant in the western state of Gujarat.

The settlement includes a total wage package of 16,000 rupees ($248.96) per worker, excluding the salary, to be paid uniformly over the five-year term of the agreement, a company spokesperson told Reuters.

The agreement introduced a performance-linked payme

General Motors confident of India dealer settlement though half object to terms - sources

By Aditi Shah

NEW DELHI  - General Motors Co is confident of reaching a settlement with dealers in India before halting sales in the country even though half say the compensation on offer is too low, people familiar with the matter said after the first round of talks.

The U.S. automaker last month said it would stop selling passenger cars by the end of

Sensex edges up; but posts weekly fall

 Indian shares edged up on Friday, rebounding from losses earlier in the session as European shares showed a muted reaction to the U.K. elections that resulted in a hung parliament, but indexes still posted their first weekly fall in five.

The broader NSE Nifty ended 0.22 percent higher at 9,668.25, falling nearly 0.15 percent for the week.

The benchmark BSE Sensex clos

Torrent Power seeks 36 LNG cargoes over three-year period

 Torrent Power  on Friday invited suppliers to fill its demand for 36 liquefied natural gas (LNG) across a three-year period starting in 2018, according to a tender document.

The company is seeking three cargoes per quarter from Jan. 1, 2018 to Dec. 31, 2020, the document showed.

Offers must be submitted no later than June 30 and Torrent Power will seek to evaluate

HPCL gets green nod for Rs 230 cr RBPL expansion proj

State-owned fuel retailer Hindustan Petroleum has received environment clearance for expansion of Ramanmandi Bahadurgarh Petroleum Products Pipeline (RBPL), whose project cost is Rs 230 crore.

Hindustan Petroleum Corp Ltd (HPCL) operates a 243 km long cross-country pipeline RBPL for transportation of various petroleum products. Its existing capacity is 4.71 million tonnes per annum an

Cipla`s arm inks pact to sell 99% stake in AJDMA

Pharma major, Cipla Ltd said that its subsidiary Saba Investment has entered into an agreement to sell its entire 99 per cent equity stake in Al Jabal for Drugs and Medical Appliances Company, Yemen (AJDMA) to Khalil Ghaleb Ali Al-Jabal.

The company has entered into an agreement for sale on June 7, 2017 and the transaction is expected to be closed within 35 days from Effective Date, t

MCL records 9% growth in profit in 2016-17

 Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited (CIL), has registered about nine per cent growth in profit before tax (PBT) at a record Rs 6,853.32 crore in financial year 2016-17, as against Rs 6,283.44 crore during the previous fiscal.

Despite several operational hindrances, the company witnessed growth in almost all the fields of operations, MCL Cha

India`s Infosys denies promoters selling stake in company

MUMBAI- Infosys Ltd denied a media report on Friday that the founders of India's second-biggest software services exporter were looking to sell their entire 12.75 percent stake in the company.

The Times of India newspaper had reported the founders were exploring such a sale, citing people familiar with the developm

Sensex falls; Infosys, UK election results weigh

By Tanvi Mehta

 Indian shares fell on Friday, with Infosys dragging benchmark indexes lower following a report its founders were preparing to exit the IT bellwether, while the prospects of a hung parliament in the UK also hurt sentiment.

Infosys was trading 1.62 percent lower, after falling as mu

Coal India to shut 37 mines this fiscal year - sources

NEW DELHI - Coal India Ltd plans to shut 37 underground mines by the end of this fiscal year, two company officials said, despite unions' plans to strike for three days this month if the decision is not withdrawn.

The coal workers unions, which say they represent more than 400,000 employees of Coal India and closely-held Singareni Collieries Ltd, last month c

Sensex edges lower ahead of ECB meeting, UK polls

Indian shares edged lower on Thursday tracking Asian peers as investors await the outcome of a slew of global events, including the European Central Bank's policy meeting and U.K. elections later in the day.

The benchmark BSE Sensex closed down 0.19 percent at 31,213.36.

The broader NSE Nifty ended 0.17 percent lower at 9,647.25.

 

(Reporting by

IOC sets extensive maintenance shutdown plans for units

NEW DELHI - Indian Oil Corp has lined up an extensive maintenance turnaround plan for its refineries in 2017, sources with knowledge of the plan said, which could force the country's top refiner to tap overseas markets for gasoline and diesel to meet rising local demand.

IOC plans to shut a 150,000 barrel per day (bpd) crude unit at its 300,000 bpd Panipat refiner

Bodhtree Consulting inks partnership with Infosys

IT consulting and software service provider Bodhtree Consulting Limited today announced it has entered into a strategic partnership with Infosys as an application service provider (ASP) wherein the clients of the Bengaluru-headquartered company will have an option to utilise GSP platform of the former for their GST filings.

"The size of the project could be over Rs 200 crore and