Indian equities buoyed, key indices scale new highs

Broadly positive global cues and healthy buying in consumer durables, capital goods and automobile stocks buoyed the Indian equity markets on Wednesday and both the key indices touched new 52-week intra-day highs as well as new closing highs.

The wider 51-scrip Nifty of the National Stock Exchange (NSE), after opening at a record high of 9,264.40 points, provisionally closed at 9,265.

Yes Bank lists over 3 cr shares following Rs 4,907cr QIP

Yes Bank said 3.27 crore shares allotted under the Qualified Institutions Placement (QIP) have been listed and available for trading on the stock exchanges, reported PTI. The QIP through which the bank raised Rs 4,906.65 crore (USD 750 million) will boost the capital adequacy to 20 per cent, Yes Bank said in a statement.

It will ensure the bank is well positioned to capitalise on the

IDBI Bank`s Kishor Piraji Kharat joins to head Indian Bank

Public sector lender Indian Bank said on Wednesday that Kishor Piraji Kharat, MD & CEO of IDBI Bank, assumed charge as its new Managing Director and Chief Executive Officer effective from April 4, 2017. “Kishor Piraji Kharat has assumed charge of MD & CEO of Indian Bank on April 04, 2017,” the bank said in a filing to the Bombay Stock Exchange on April 05, 2017.


Ujaas Energy bags order from RRECL and MPUVN

Ujaas Energy said that it has received work orders from RRECL and MPUVN. The company has received work orders under capacity allocation from RRECL for design, supply, installation and commissioning of 850Kwp grid connected solar power plant in various schools and colleges in Rajasthan.

It has also received a work order from MPUVN for erection, installation, completion and commissionin

Tata firm commissions 100 MW wind farm in Andhra Pradesh

Tata Power Renewable Energy Ltd (TPREL), India's largest renewable energy company, on Wednesday announced commissioning of its 100 MW wind farm project in Nimbagallu in Andhra Pradesh.

The company commissioned 36 MW wind capacity of the plant in December 2016.

TPREL, the wholly-owned subsidiary of Tata Power, announced the commissioning of the balance 64 MW on Wednesday.

Jio will continue to remain disruptive: Jefferies

With 72 million subscribers enrolling for prime membership till March 31, Reliance Jio will remain disruptive given its aspirations, investment banking firm Jefferies said here on Wednesday.

Last week Jio reported that out of its over 100 million subscribers of free services, over 72 million have enrolled for the Jio Prime membership. The enrollment allows subscribers unlimited monthl

Moody`s retains rating on SBI`s senior unsecured notes

Global credit rating agency Moody's Investors Service said it has retained its rating for State Bank of India's (SBI) senior unsecured notes after the issue size was increased by USD 100 million to USD 600 million. The issue is part of SBI's USD 10 billion medium-term note programme. "The upsize will be carried out from its London branch, and the bonds will be listed on the Sin

Hero MotoCorp sales up marginally at 6,09,951 units in March

Countrys largest two-wheeler maker Hero MotoCorp has reported a marginal increase in sales at 6,09,951 units in March. The company had sold 6,06,542 units in March 2016, Hero MotoCorp said in a statement. The two-wheeler major said its sales during the 2016-17 fiscal stood at 66,63,903 units, the companys highest-ever sales in a financial year. It had retailed 66,32,322 units in 2015-16.

SBI cuts base rate by 15 bps with effect from April 1

Bringing cheer to customers who have raised loans prior to April 1, 2016, the largest public lender State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10 per cent with effect from April 1, 2017. Earlier, the base rate stood at 9.25 per cent.

The marginal cost-based lending rate (MCLR) of the SBI, however, remains unchanged. The six-month MCLR rate is at 7.95 per

RIL gets green nod for expansion of Rs 13,250 cr Dahej unit

Mukesh Ambani-led Reliance Industries Ltd (RIL) has got environment clearance for the expansion and de-bottlenecking of its Dahej petrochemical unit in Bharuch district of Gujarat at a cost of Rs 13,250 crore, as per the media reports. RIL wants to expand its Dahej plant in view of erratic supply of feed stock, change in the government's policy to prioritize domestic supply over industrial

Ashok Leyland registers 12% increase in sales in March

Hinduja Group flagship Ashok Leyland has said that it has reported a 12 per cent increase in total sales at 18,682 units in March. The company had sold 16,702 units in the same month last year. Sales of heavy and medium commercial vehicles were up 15 per cent at 15,258 units last month as against 13,240 units in the year-ago period, the company said in a filing to the Bombay Stock Exchange.

TVS Motor registers 10% sales growth in March 2017

TVS Motor Company has said that it has posted a sales growth of 10 per cent during the month of March 2017, with total sales increasing from 232,517 units recorded in the month of March 2016 to 256,341 units in the month of March 2017. The total two-wheeler sales increased by 10.7 per cent from 226,643 units recorded in March 2016 to 250,979 units in March 2017.

Domestic two-wheelers

Domestic air passenger traffic rises 14% in February 2017: ICRA

The air passenger traffic in the country rose by 14 per cent year-on-year (y-o-y) to 21.9 million in February, domestic rating agency ICRA said on Tuesday.

According to the ICRA report, during the 11 months of financial year 2016-17, y-o-y growth in the passenger traffic has been reported at 19 per cent, aircraft traffic by 14 per cent and cargo traffic at 9 per cent.


Shares flat after Nifty hits record high; RBI decision awaited

By Tanvi Mehta

Indian shares traded flat on Wednesday, paring gains after the NSE Nifty hit a record high at the open, as investors took a breather ahead of the central bank policy meet due this week.

The monetary policy committee of the Reserve Bank of India (RBI) is likely to leave the repo rate at 6.25 percent, where it has been since October, a Reuters poll found.

Dr Reddy`s Srikakulam plant gets 2 USFDA observations

Drug firm Dr Reddy’s Laboratories Ltd on Tuesday said that the US health regulator, United States Food and Drug Administration (USFDA), has issued fresh 2 observations after inspection of its API manufacturing facility at Srikakulam in AP. In a filing to the Bombay Stock Exchange, the company said, “The audit of our API manufacturing plant at Srikakulam, Andhra Pradesh by the US FDA

SoftBank preps Snapdeal for sale, looks to buy Kalaari, Nexus stakes - reports

 Snapdeal's three biggest investors - Japan's SoftBank, Kalaari Capital and Nexus Venture Partners have moved closer to resolving an impasse, potentially clearing the way for a sale of the e-tailer to one of its rivals, Flipkart or Paytm, according to a Mint report, citing unnamed sources.

The newspaper report said that at a board meeting of Jasper Infotech, the company b

Cipla gets US regulatory nod for generic Epzicom tablets

Global pharmaceutical company Cipla on Tuesday announced that it has received final approval of the US Food and Drug Administration (USFDA) for the generic version of Epzicom tablets -- for the treatment of HIV-1 infection.

"Abacavir and Lamivudine Tablets USP, 600 mg/300 mg, are AB-rated generic equivalents to the reference listed drug (RLD), Epzicom Tablets, 600 mg/300 mg of Vi

CSC, HP Enterprise merger gives birth to DXC Technology

US-based Hewlett Packard Enterprise (HPE) on Tuesday announced the birth of DXC Technology, an independent, end-to-end IT services company created by the merger of Computer Sciences Corporation (CSC) with the Enterprise Services business of HPE.

With $25 billion in annual revenues, DXC Technology has nearly 6,000 enterprise and public sector clients in 70 countries, a global partner n

ONGC submits revised plan for Farzad gas field in Iran

By Promit Mukherjee

MUMBAI  - The overseas arm of Oil and Natural Gas Corp has submitted a revised plan to develop the giant Farzad B gas block in Iran, including a commitment to spend more than $3 billion, a senior executive said on Tuesday.

ONGC Videsh  expects to produce between 1 billion and 1.6 billion cubic feet per day of gas in five years f

WhatsApp mulls foray into digital payments with India launch

MUMBAI - Instant messaging app WhatsApp, owned by Facebook Inc, is mulling a foray into digital payment services in India, its first such offering globally, and has advertised to hire a digital transactions lead in the country.

A WhatsApp move into digital payments in India, its biggest market that is home to 200 million of its billion plus global users, would replica

Under pressure, Snapdeal woos staff with promises of profit

By Sankalp Phartiyal and Aditya Kalra

MUMBAI/NEW DELHI  - Seeking to calm employees rattled by reports of a cash crunch, the founders of Indian online retailer Snapdeal have gone directly to them with a string of townhall meetings in past weeks, according to sources, promising profit and brushing off takeover talk.

The sources, familiar with the group,

Cash component reduced, higher stock incentives to Pravin Rao: Infosys

A day after Infosys founder N.R. Narayana Murthy termed the board-approved compensation hike for COO U.B. Pravin Rao as "not proper", the IT major on Monday said it has "reduced the cash component" of his compensation and introduced "higher stock incentives".

It said that it undertook a comprehensive survey of best practices and benchmarked senior managem

Indian gas prices far below average production cost: Icra

The new natural gas prices for producers in India are well below the average cost of production, rating agency Icra said on Monday.

The government last week marginally cut the natural gas price paid to producers to $2.48 per million British thermal unit (mbtu) effective for six months from April 1. 

"With the latest marginal fall from $2.50 per mbtu for the second

Jio records highest download speed for February: TRAI data

Newcomer in the telecom sector, Reliance Jio recorded highest download speed compared with its other competitors like Bharti Airtel, Vodafone India and Idea Cellular, a data released by the telecom regulator showed here.

According to the monthly average mobile speed data revealed by the Telecom Regulatory Authority of India (TRAI) for February, Jio's 4G average download speed was

Coal India misses its production target by 44.48 mn tonnes

Coal India on Monday said it missed its annual production target by 44.48 million tonnes as it produced 554.13 million tonnes by the end of 2016-17 against a target of 598.61 mt.

According to the provisional data, the miner also missed its off-take target for 2016-17 by 55.45 million tonnes.

Against a target of 598.61 million tonnes, its off-take for the last fiscal was at 5