Paytm to offer insurance cover on wallet balance

Paytm plans to offer an insurance cover on the wallet balance,according to the PTI report. Paytm is in talks with leading insurance companies to provide insurance cover, under which the balance in Paytm wallets will be covered against fraudulent use, it said in a statement.

"This insurance cover on Wallet balance will ensure that the user is covered should there be any misuse of

Zee to acquire 80% stake in tech startup Margo for Rs 75 Crore

Zee Entertainment Enterprises (ZEEL) said it will acquire 80 per cent stake in technology startup Margo Networks for Rs 75 crore, reported PTI. The board of the company gave in-principle approval for acquisition of 80 per cent stake in Margo Networks Pvt Ltd at a consideration of Rs 75 crore, ZEEL said in a filing to BSE.

The investment by Zee values Margo at Rs 95 crore. Margo has de

Nifty hits record, rupee at 17-month high as Fed sticks to gradual pace

MUMBAI  - The NSE Nifty hit a record high and the rupee rose to its strongest level in nearly 17 months on Thursday after the U.S. Federal Reserve signalled no pick-up in the pace of its interest rate tightening.

The gains, which tracked Asian markets, came after the Fed stuck to its outlook for two additional rate increases this year after lifting its overnight

SBI approves plan to raise up to $2.3 billion in capital

MUMBAI - State Bank of India (SBI), the country's biggest lender by assets, said on Wednesday its board had approved a plan to raise up to 150 billion rupees ($2.3 billion) from capital markets in the next fiscal year starting from April 1.

In January, SBI Chairman Arundhati Bhattacharya told Reuters the bank could tap capital markets next fiscal year to raise up

Indian Oil Corp buys its first Hibernia crude from Canada's Suncor

CALGARY, Alberta/NEW DELHI - Indian Oil Corp became India's first refiner to buy light sweet Hibernia crude from Canada's largest oil company, doing the deal after the opening of the arbitrage for Canadian oil to flow to Asia.

A decision by the Organization of the Petroleum Exporting Countries (OPEC) to cut output strengthened Middle East benchmark Dubai again

AI to have dramatic impact on business by 2020: TCS

Sixty-eight per cent of organisations use artificial intelligence (AI) for IT functions, but 70 per cent believe AIs greatest impact by 2020 will be in marketing, customer service, finance and HR, a new study said on Wednesday.

According to global IT consulting firm Tata Consultancy Services (TCS), organisations with the greatest financial improvements from AI investments expect three

Bharat Heavy Electricals Ltd starts commercial ops of 800 MW thermal plant

Bharat Heavy Electricals (BHEL) said that it has commenced commercial operation of its first 800 MW unit - highest-rating coal-based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation (RPCL), in Raichur district of Karnataka, the company said in a filing to the Bombay Stock Exchange.

Uber partners with Jet Airways for smart travel

In a bid to enhance guest experience, cab-aggregator Uber on Wednesday announced a strategic association with Indian airline Jet Airways.

Guests booking their flights on the app and using Uber for the first time will benefit from a discount of Rs 150 across their first three rides by using the promo code JETUBER.

"Through this partnership, Jet Airways' guests across

itel collaborates with Idea Cellular to offer free data

itel Mobile, part of Chinese mobile manufacturer Transsion Holdings, on Wednesday announced its partnership with domestic mobile operator Idea Cellular to offer free 1GB of data per month for up to six months on specific models of itel smartphones.

The offer is available on selected itel smartphone models under Wish series; it1409, it1407, it1508, it1508+ and Power Pro series; it1516+

Rupee hits 16-month high, bonds rally most in two weeks ahead of Fed

MUMBAI - The rupee hit a 16-month peak against the dollar and bonds rallied the most in two weeks on Wednesday on hopes of a less hawkish tone on interest rates by the U.S Federal Reserve at the end of its two-day policy meeting later in the day.

The stock market however ended nearly unchanged a day after the broader NSE index hit a record high and the benchmark BSE i

Markets showing confidence in Modi's policies: BSE executive

With Indian equity markets surging to new levels this week, an official of the Bombay Stock Exchange (BSE) has said that market behaviour is reflecting its growing confidence in the policies of the government.

Indian equity markets on Tuesday surged to touch new 52-week-high levels following crucial state election results declared on March 11. 

"Now we have seen so

Glenmark's Ankleshwar plant gets EIR report from USFDA

Drug firm Glenmark Pharmaceuticals said that it has received establishment inspection report (EIR) from the US health regulator on closure of inspection of its Ankleshwar plant in Gujarat. "Glenmark would like to state that its Ankleshwar plant received the EIR (establishment inspection report) yesterday. The EIR is issued by the FDA only if it finds the facility to be deemed acceptable,&q

JSW Steel crude steel production up 25% in Feb

JSW Steel, an integrated steel manufacturer, has reported crude steel production of 12.65 million ton (MT) in February 2017 with a growth of 25 per cent over the corresponding month in 2016. The production of rolled products (long) increased to 2.50 MT compared to 2.33 MT in February 2016, representing a growth of 8 per cent, the company said in a filing to the Bombay Stock Exchange.

Godrej consumer products raises stake in Weave Senegal

Godrej consumer products has said in a filing to the Bombay Stock Exchange that the company, through its subsidiary, has increased its stake from 51 per cent to 100 per cent in Weave Senegal Limited. The Company, through its subsidiary, has also reduced one layer of non-operational investment holding company in Mauritius.

Godrej Consumer Products Limited is an Indian consumer goods co

Larsen & Toubro Ltd Realty sells stake in Chennai township project for Rs 190-cr

L&T's arm L&T Realty has sold its 51 per cent stake in a township project at Chennai for Rs 190 crore to an investment firm Pragnya group, reported PTI. "L&T Realty Ltd, a wholly-owned subsidiary of Larsen & Tourbo Ltd, has executed a share purchase agreement for selling its entire stake in L&T South City Projects Pvt Ltd to Pragnya group," the construction fir

Rupa & Co to sell US brand 'Fruit of the Loom' products in India

Rupa & Company on Tuesday said its wholly-owned subsidiary Oban Fashions Pvt. Ltd. has entered into a licence agreement with Fruit of the Loom Inc., a subsidiary of Berkshire Hathaway Company, to manufacture, distribute and sell innerwear and outerwear products of the US brand in India.

"Oban Fashions Private Ltd, a wholly owned subsidiary of Rupa & Company, has on March

Rupee hits 16-month high, but shares flat ahead of Fed decision

MUMBAI  - The Indian rupee hit a 16-month peak against the dollar on Wednesday on hopes of increased foreign investments in equities, but the stock market flattened a day after the NSE index hit a record high.

Meanwhile, benchmark 10-year bond yields fell 3 basis points to 6.87 percent after data released late on Tuesday showed that February consumer inflation ca

BSE launches futures on S&P BSE SENSEX 50 index

Asia's oldest bourse BSE on Tuesday launched futures on S&P BSE Sensex 50 index which will help investors to achieve portfolio diversification.

"The market participants would be able to take a long-term view on the underlying. Introduction of additional indices will also lead to increased participation in the index futures market," it said in a statement.


Vistara enters into codeshare agreement with SIA Group

Full-service airline Vistara on Tuesday entered into a codeshare agreement with Singapore Airlines (SIA) and its regional subsidiary SilkAir.

A codeshare agreement allows two airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. 

Vistara is a New Delhi-based joint venture between Tata Sons and SIA. 

Sun Pharma's Mohali plant out of US FDA's Import Alert list

Drug major Sun Pharmaceutical Industries Ltd on Tuesday said its production facility in Mohali in Punjab is out of US Food and Drug Administration's (US FDA) "Import Alert".

In a statement, Sun Pharma said the US FDA on Monday informed that it will lift the Import Alert imposed on the Mohali manufacturing facility and remove the facility from the Official Action Initiate

India's retail inflation picks up to 3.65 percent in February

NEW DELHI - India's annual consumer price inflation rose to 3.65 percent in February, mainly driven by food prices, after touching its lowest level in at least five years in January, government data showed on Tuesday.

Economists polled by Reuters had expected last month's annual retail inflation to come in at 3.58 percent, compared with 3.17 percent in January

Indian assets soar on election win amid wider stocks rally

By Claire Milhench

Indian stocks hit record highs and the rupee firmed on Tuesday as landslide regional election wins bolstered the government's reform agenda, while emerging stocks rose to near two-week highs.

MSCI's broad emerging equities index rose 0.3 percent with Russia and Korea among the outperformers, the latter closing up 0.8 percent at a more than 20-month

Nifty ends above 9,000 after hitting record high; Sensex at two-year high

The Nifty closed above the key 9,000 level on Tuesday for the first time ever, having risen as much as 2.1 percent to a record high earlier, as Prime Minister Narendra Modi's resounding win in state elections was seen bolstering his economic reform agenda and the chances of a second term.

The Nifty ended 1.7 percent higher, after earlier hitting a peak of 9,122.75, surpassing its

RBI processes Sovereign Gold Bonds demat requests

Putting at rest the Sovereign Gold Bonds (SGBs) investors' worries over the pending dematerialisation (demat) of their allotted bonds, the RBI on Tuesday announced it had processed the demat requests, with the exception of those with incomplete details.

"The requests for dematerialisation have largely been processed successfully," the Reserve Bank of India said in a rele

Uber launches selfie powered Real-Time ID check in India

For the security of both riders and drivers, cab-aggregator Uber has launched a Real-Time ID Check in India that prompts drivers to take a selfie before they accept rides.

The latest security feature using Microsoft Cognitive Services to instantly compare selfie to the one corresponding with the account on file.

According to a Uber blog post on Monday, this feature prevents