RBI to keep rates steady over the next 18 months: Reuters poll

By Krishna Eluri

The Reserve Bank of India is expected to keep interest rates steady well into next year after it shifted to a neutral monetary policy stance in February, and despite having raised concerns over a potential spike in inflation, a Reuters poll found.

Earlier this month, the Reserve Bank of India raised a secondary rate while holding the key repo rate steady to

Bharti Airtel to partner Amazon for it`s Fire TV Stick

Bharti Airtel (“Airtel”), India’s largest telecommunications services provider has said that it has partnered with Amazon for Amazon’s Fire TV Stick with Voice Remote, which was launched in India.

Customers purchasing Amazon Fire TV will get free 100 GB high speed data via Airtel Broadband/Airtel 4G Home Wi-Fi* to enable them to enjoy online content on their TV

Key Indian equity market indices open higher

Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher.

The Sensitive Index (Sensex) of the BSE, which had closed at 29,336.57 points on Wednesday, opened higher at 29,358.59 points. 

Minutes into trading, it was quoting at 29,369.55 points, up by 32.98 points, or 0.11 per cent.

At the National Stock Exchange (NSE), th

Stability on input prices to provide comfort: Tata Steel

 The stability to input prices for the capital-intensive steel sector will provide some comfort on this front and help the industry, Tata Steel said on Wednesday.

"We wait for the details to come out. Obviously, when you have significant input cost, you want some sort of stability on input cost.

"For the steel industry which is capital-intensive, it is good to

Grade reset to dent Coal India's FSA realisation: Jefferies

 The recent grade downgrades at Coal India's mines could hit its realisation from fuel supply agreement (FSA) by 3-5 per cent and estimated earnings for the current fiscal year by 11-16 per cent, according to a note released on Wednesday by research analyst firm Jefferies India.

"We believe recent grade downgrades at CIL's (Coal India Ltd) mines could hit FSA realisa

Coal supply by CIL to power sector increased 1.3% in 2016-17

The supply of coal by state-owned CIL to power sector increased by 1.3 per cent to 420.2 million tonnes (MT) in 2016-17, reported PTI. The increase in supply comes at a time when demand of coal by the power sector has picked up on back of economy doing well. Coal India Ltd (CIL) which accounts for over 80 per cent of the domestic coal production had dispatched 414.7 MT of fuel in FY 2015-16, ac

Yes Bank fourth-quarter profit beats estimates

Yes Bank Ltd on Wednesday posted higher-than-expected quarterly net profit, helped by higher interest and other income.

Yes Bank, India's fifth-biggest private sector lender by assets, reported a 30 percent rise in profit to 9.14 billion rupees ($141.56 million) in the March quarter.

Interest earned in the quarter rose more than 23 percent to 43.49 billion rupees while &

Sensex, Nifty little changed; investors focus on bank earnings

Indian shares ended nearly unchanged on Wednesday as caution set in ahead of a slew of corporate results this week, particularly banks, although a forecast for an average monsoon gave a leg-up to the market sentiment.

The Nifty ended down 0.02 percent at 9,103.50, while the benchmark Sensex closed 0.06 percent higher at 29,336.57.

(Reporting By Darshana Sankararaman in Benga

TCS weathers headwinds for constructive growth in FY 2018: Jefferies

Indian IT bellwether Tata Consultancy Services (TCS) indicated a constructive (revenue) outlook for fiscal 2017-18 (FY 2018) after weathering headwinds in fiscal 2016-17, said American investment bank Jefferies LLC on Wednesday.

"TCS gave a constructive outlook for FY 2018 after facing headwinds in FY 2017, as evident from robust net profit and revenue growth in its fourth quarte

Sunday off for petrol pumps could invoke ECA: Government

The threat by petroleum dealers to shut down pumps on Sundays will be dealt with according to measures necessary to maintain supplies of essential commodities, the Centre said on Wednesday.

"We have just now been made aware of this decision by the petroleum dealers through media reports," a senior Petroleum Ministry source said when queried about the dealers' decision to

IndusInd Bank fourth-quarter net profit rises

IndusInd Bank, India's sixth-biggest private sector lender by assets, reported a 21 percent rise in its fourth-quarter profit on higher interest income, while its bad-loan ratio eased sequentially.

Net profit rose to 7.52 billion rupees ($116.4 million) for the quarter ended March 31, from 6.20 billion rupees a year earlier, the Mumbai-based lender said on Wednesday. 

Tata Motors to export some older-technology trucks after court ban

NEW DELHI - Tata Motors  is planning to export some of its unsold stock of older-technology trucks, after an unexpected ban on their sale in India, a senior company executive said on Wednesday.

India's top court in March banned the sale of vehicles that run on older Euro III fuel technology from April 1, a decision that led to a sharp fall in shares of major

Nomura to set up $92 mn fund to assist start-ups

Investment bank Nomura has decided to set up a $92 million fund to assist start-ups, a senior official said.

In a statement issued here on Wednesday the firm also said that it has commenced the 'Voyager - Nomura FinTech Partnership' in India aimed at harnessing emerging technologies to help transform its businesses and services.

"We also plan to create a new 10

NTPC JV to cut power supply to 3 states over pending dues

A joint venture of state-run NTPC has decided to snap power supply to three states of Tamil Nadu, Karnataka and Telangana from its Vallure thermal station over non-payment of dues of Rs 1,388 crore.

The NTPC Tamil Nadu Energy Company Ltd (NTECL) has issued a notice for regulation of power supply to Tamil Nadu, Telangana and Karnataka to the extent of 1,229 MW from its Vallur Thermal P

RBI cautions banks on bad loan risk in telecom sector

The Reserve Bank of India (RBI) on Tuesday cautioned about loans given to companies in sectors in difficulty such as telecom and may witness rising bad loans.

Banks were asked to put in place a board-approved policy for making provisions for standard assets at rates higher than the regulatory minimum, based on evaluation of risk and stress in various sectors.


Sensex edges down; investors focus on bank earnings

By Darshana Sankararaman

Indian shares edged lower on Wednesday as investors turned cautious ahead of a slew of corporate results, particularly banks, although a forecast for an average monsoon gave a leg-up to market sentiment.

The focus is now on the financial sector this week - with Yes Bank Ltd and HDFC Bank Ltd due to report results - after mixed fortunes at IT blue chi

BigBasket in talks for possible merger with Grofers India - report

India's online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources.

If the merger goes through, SoftBank Group, which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report ad

Dues and recoveries in Vijay Mallya case

Liquor baron Vijay Mallya defaulted on Rs 8,191 crore he had borrowed from a consortium of 17 public sector banks, which have so far recovered Rs 155 crore through auction of his seized properties.

The 61-year-old business tycoon fled to Britain in March 2016 after being pursued in courts by the Indian banks, led by the State Bank of India, seeking to recover the loans owed by hi

SPML Infra completes irrigation project in Gujarat

SPML Infra has said that it has substantially completed an important Irrigation Project in Gujarat called Saurashtra Narmada Avtran Irrigation (SAUNI Yojana). Hon’ble Prime Minister, Shri Narendra Modi ji along with Shri Vijay Rupani, Hon’ble Chief minister of Gujarat inaugurated the completion of Phase-I of SAUNI project in Botad, Gujarat by formally releasing Narmada water in Krus

Coal Controller downgrades around 41% of CIL's sidings

Coal India Ltd (CIL) on Tuesday said the coal quality watchdog Coal Controller Organisation has downgraded 40.76 per cent of 871 sidings at 386 mines in 2017-18.

During 2017-18, the Coal Controller announced new methodology for declaration of grade as per directives from the government. Under revised methodology, sampling and analysis of different seams or loading points was carr

IndusInd Bank to raise Rs 1,000 cr via bonds

IndusInd Bank said its board has approved raising of Rs 1,000 crore by issuing bonds on private placement basis, reported PTI. The approval has been given by the finance committee of the board, the bank said in a regulatory filing.

The board, it said, has approved the allotment of 10,000 rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III-compliant bonds in

M&M's auto division consolidates sales, marketing functions

Leading SUV manufacturer Mahindra & Mahindra (M&M) on Tuesday said it has consolidated the sales and marketing functions of its automotive division.

The company pointed out that it has consolidated the two functions under Veejay Ram Nakra. 

"The company has, thus, re-designated Veejay as Senior Vice President - Sales and Marketing, Automotive Divi

Tata Housing to expand its global footprint, forays into Africa

After launches in Sri Lanka and the Maldives, Tata Housing on Tuesday said it has planned expansion in the African region with investments of more than Rs 1,000 crore over the next 3-4 years.

The company signed an MoU with the National Housing Corporation (NHC) and a private real estate firm to develop more than 4.5 million sq. ft. of mixed-use township across Kenya and Tanzania.

Lower Infosys guidance nips early recovery hopes: Jefferies

The lower revenue guidance of Infosys spikes the hopes of early recovery by the global software major, said the American investment bank Jefferies LLC on Tuesday.

"Guidance implies recovery is still a while away. It is lower than the expected growth and a downward reset of the margin brand," said the US-based securities firm in a statement from New York.


TCS posts higher profit, confident of demand growth

By Sankalp Phartiyal

MUMBAI - Tata Consultancy Services Ltd, India's biggest software services exporter, reported a slightly smaller than expected rise in fourth-quarter earnings on Tuesday, but was confident of demand growth in some of its major focus areas.

TCS, part of the Tata Group - India's largest conglomerate, expects a robust pipeline of pro