Jindal Steel and Power's (JSPL) Angul factory, the biggest integrated steel plant in Odisha, will produce various types of steel plates and billets which can be can be used for ship building, tank making and other defence purposes, said JSPL chairman Naveen Jindal on Friday.
The 6 million tonne per annum (MTPA) steel-making facility in Angul was made operational on May 27.
Automobile major Tata Motors on Thursday reported that its total sales for last month fell by four per cent to 38,361 units from 40,123 units sold in May 2016.
According to the automobile major, its domestic passenger vehicles decreased by three per cent to 34,461 units from 35,695 units sold in May 2016.
The company's exports last month declined by 12 per cent
BHUBANESHWAR, India - Odisha said on Friday it had approved a plan by JSW Steel to set up a 10 million tonnes a year steel plant costing about 500 billion rupees ($7.8 billion).
JSW, which is India's biggest steelmaker by capacity and produces 18 million tonnes a year, has sought 4,500 acres of land which were earlier allotted to South Korea's Posco, Odisha st
The scrip of global infrastructure conglomerate GMR Infrastructure on Friday surged by 13.71 per cent to Rs 17 on the BSE, after the company reported that its gross debt had fallen to Rs 19,856 crore from Rs 37,480 crore.
On a fiscal 2016-17 consolidated basis, the company reported a net profit (before minority and share of associates) of Rs 8.78 cr
Airport operator GVK Power and Infrastructure on Friday said it will sell 10 percent of its residual stake in Bangalore International Airport Limited (BIAL) in southern India to Fairfax India Holdings Corp for 12.90 billion rupees ($200.23 million).
GVK would sell its stake, held by its unit Bangalore Airport Infrastructure Developers Private Limited, and the proceeds woul
Indian shares climbed on Friday to post record closing highs and a fourth consecutive weekly gain, with Hero MotoCorp Ltd leading the rise on strong monthly sales data.
The broader NSE Nifty closed up 0.39 percent at 9,653.50, while the benchmark BSE Sensex ended 0.44 percent higher at 31,273.29.
The NSE and BSE indexes gained 0.61 percent and 0.79 percent, respectivel
MUMBAI - The former chief executive of the National Stock Exchange (NSE), Ravi Narain, has resigned from its board, an NSE source said on Friday, as regulators examine whether the exchange had provided unfair advantages to some brokers.
Narain's resignation as vice chairman of the board of India's largest exchange is meant to clear any potential obstacle
NEW DELHI - Privatising state-owned airline Air India will be "very difficult" unless the government writes off at least part of its debts, a senior government economic adviser said on Friday after a top policy panel recommended selling off the carrier.
Loss-making Air India, bailed out in 2012 with $5.8 billion of federal funding, has troubled the governmen
By Sankalp Phartiyal and Devidutta Tripathy
MUMBAI - Anil Ambani, chairman of India's Reliance Communications, said on Friday its lenders had agreed to a plan which gives the company a reprieve on its loans until the end of the year, providing a much-needed breathing space.
Ford India has reported 36 per cent jump in total sales to 23,503 units in May this year. The company had sold 17,279 units in the same month of last year, Ford India said in a statement. Domestic sales were up 16.64 per cent to 6,742 units last month as against 5,780 units in May last year, it said.
Exports during the month grew by 45.76 per cent to 16,761 units as compared to 11,499