Yes Bank, IndusInd to join India`s BSE Sensex index; Lupin, Cipla dropped

Indian private sector lenders Yes Bank Ltd and IndusInd Bank Ltd will join the BSE stock exchange's 30-member Sensex index, effective Dec. 18, the index provider said on Friday.

Drugmakers Lupin Ltd and Cipla Ltd will make way for the two banks, according to a statement from Asia Index Pvt Ltd.

Yes Bank has gained nearly a third so far this year, while IndusInd has added

NHPC keen on $2.5 billion Nepal power project after Chinese deal scrapped

NEW DELHI - Indian state power company NHPC Ltd is interested in bidding for a $2.5 billion power project in Nepal, its chairman told Reuters, after Kathmandu cancelled a deal with China Gezhouba Group Corp.

"We have to send our team there and work out all the details, but would be interested in bidding for the project," Balraj Joshi said on Friday.

<
State oil firms betting on natural gas as next big thing

MUMBAI/NEW DELHI- India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix.

State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15

Toyota, Suzuki to produce electric vehicles for India market by 2020

Global automobile majors Toyota Motor Corporation and Suzuki Motor Corporation will join hands to produce electric vehicles (EVs) for the India market by 2020.

On Friday, both Toyota and Suzuki said they have concluded a memorandum of understanding (MoU) on the "cooperative structure for introducing EVs in the Indian market around 2020". 

"The agreement s

Reliance General Insurance inks bancassurance pact with YES Bank

Reliance General Insurance Company Ltd on Friday said it has signed a comprehensive Bancassurance agreement with YES Bank to distribute its various products.

In a statement issued here, Reliance General - a subsidiary of Reliance Capital Ltd - said the bancassurance agreement - corporate agency agreement - has been inked to distribute insurance products to the bank's customers.

Two Tata officials appointed on Tata Sons board

Two top Tata Group officials -- Titan's Managing Director Bhaskar Bhat and Group CFO Saurabh Agrawal -- have been elevated to the Board of Directors of Tata Sons, a company statement said on Friday.

Bhat has helmed his company's brand value drive and its market cap of $10 billion while Agrawal brings along a deep capital market knowledge and valuable cross-industry experi

Sensex ends higher as Moody`s upgrade cheers

Sensex ended higher on Friday after climbing more than 1 percent during the session, after Moody's Investors Service upgraded India's sovereign bond rating for the first time in nearly 14 years.

The broader NSE Nifty closed 0.67 percent higher at 10,283.60, while the benchmark BSE Sensex finished 0.71 percent up at 33,342.80.

Financials led the gains, with Housing De

Emerging stocks track U.S. gains, India shines

LONDON - Earnings-driven gains on Wall Street pushed emerging stock markets higher on Friday, with Indian assets racing ahead following a ratings upgrade.

MSCI's emerging markets index rose 0.6 percent thanks to solid gains in major Asian bourses with Taiwan up 0.7 percent and Hong Kong nearly matching that as tech heavyweight Tencent Holdings jumped almost 3 perc

India gold prices flip to discount as wedding demand underwhelms

MUMBAI/BENGALURU - Gold prices in India traded at a discount for the first time in six weeks as the key wedding season failed to spur fresh demand, while high prices curbed appetite for the precious metal in major Asian centres except China.

Gold is considered an essential part of weddings in India, the world's second-biggest consumer after China, and it is a popu

Aircel delays debt servicing, says ratings agency

MUMBAI - Indian mobile carrier Aircel Ltd has delayed servicing its debt obligations, a ratings agency said, adding to the woes of the country's telecoms sector that has been rattled by a price war and high debt levels.

CARE Ratings downgraded unlisted Aircel's long-term bank facilities, which it said was at 174.79 billion rupees ($2.7 billion). The 'CARE

SEBI to investigate possible leak of company earnings

MUMBAI - The Securities and Exchange Board of India (SEBI) will investigate possible leaks of company earnings in social media chatrooms, its chief Ajay Tyagi said on Friday, following a Reuters report this week that revealed prescient messages being posted in private groups.

The Reuters investigation documented at least 12 cases of prescient messages about major Indi

India considering cut in iron ore export tax: sources

NEW DELHI - India is considering scrapping or reducing a 30 percent export tax on medium-grade iron ore after building up a stubbornly high surplus of the commodity, according to a document seen by Reuters.

India's mining industry has lobbied for months for a cut in the duty after the country's stockpile rose over the last five years to reach 149 million tonne

RBI eases rules for short-selling in governmentt bonds

MUMBAI - The Reserve Bank of India on Thursday eased the rules for short-selling in government bonds, allowing traders to deliver securities from their own portfolio against short sales in "exceptional situations" of market stress.

Until now, the central bank had not permitted government bond market traders to use securities from their own portfolios for del

Indian markets rally after Moody`s rating upgrade

MUMBAI  - Indian markets, including stocks, bonds and the rupee, rallied on Friday after Moody's upgraded India's sovereign bond rating, and noted continued progress on economic and institutional reform will enhance India's high growth potential.

At 0400 GMT, the benchmark 10-year bond yield was down 10 basis points at 6.96 percent, the rupee was trad

India rice prices rise on improved demand, fresh supply caps gains

BENGALURU  - Rice prices in India climbed this week, buoyed by improved overseas demand, but rising supplies from a new season crop capped gains for the staple grain in the world's top exporter.

India's 5 percent broken parboiled rice prices rose by $2 per tonne to $399 to $402 per tonne.

"There was an improvement in demand from Bangladesh

Online hiring activity records 9% yoy growth in October: Report

Online hiring activity registered a nine per cent growth year-on-year (y-o-y) during October indicating signs of recovery in the job market, a report by job portal Naukri.com said on Thursday.

According to the survey, the Naukri JobSpeak index for October at 1,728 saw a nine per cent growth from the corresponding month of last year.

"There seems to be an air o

Guj. State Finan posts Q2 net loss of Rs 29.01 cr

The company reported standalone net loss during the quarter stood at Rs 29.01 crore as compared to net loss of Rs 28.62 crore in the previous year quarter. Net revenue of the company rose three fold by 484.85 per cent at Rs 1.93 crore in July-September quarter of this fiscal as against Rs 0.33 crore in the corresponding period last year.

During July-September quarter, operating expens

Honda Siel Power Q2 net profit down 16.42% at Rs 14.96 cr

The company reported standalone net profit of Rs 14.96 crore for the quarter ended September 30, 2017 as compared to Rs 17.90 crore in the same period last year, registering a year-on-year decline of 16.42 per cent. Net revenue of the company rose marginally by 2.98 per cent at Rs 184.48 crore in July-September quarter of this fiscal as against Rs 179.14 crore in the corresponding period last y

Shalibhadra Fin. Q2 net profit up 19.83% at Rs 1.39 cr

The company reported standalone net profit of Rs 1.39 crore for the quarter ended September 30, 2017 as compared to Rs 1.16 crore in the same period last year, registering a year-on-year growth of 19.83 per cent. Net revenue of the company rose substantially by 26.46 per cent at Rs 4.54 crore in July-September quarter of this fiscal as against Rs 3.59 crore in the corresponding period last year

Mukand posts Q2 net loss of Rs 18.49 cr

The company reported standalone net loss during the quarter stood at Rs 18.49 crore compared to net profit of Rs 6.05 crore in the previous year quarter.  Net revenue of the company rose moderately by 18.50 per cent at Rs 800.13 crore in July-September quarter of this fiscal as against Rs 675.20 crore in the corresponding period last year. During July-September quarter, operating expenses

Uber opens new engineering facility in Hyderabad

The world's leading taxi aggregator Uber has opened a new engineering facility in Hyderabad, its second in India.

The company has hired over 40 engineers to build what it calls world-class business intelligence platforms and real time streaming for Uber globally.

Spread over 18,000 square feet, the facility has come up in Kondapur in HiTec City, the IT hub here

Sensex rebounds from three-day losing streak; IT, banks gain

Indian shares snapped three straight sessions of losses, aided by gains in banking and IT stocks, while refiners such as Reliance Industries Ltd surged on a drop in oil prices.

The BSE Sensex ended 1.06 percent higher at 33,106.82, while the broader NSE Nifty rose 0.96 percent to end at 10,214.75.

(Reporting by Vishal Sridhar in Bengaluru; Editing by Gopakumar Warrier)

HP Inc tops Indian PC market with 31.1% share

With the recovery of the Indian PC market, HP Inc maintained its leadership position in the overall traditional PC market with 31.1 per cent share in the third quarter this year, global market research firm IDC said on Thursday.

HP Inc recorded a healthy 30.2 per cent growth (year-on-year) owing to a state-owned education project along with strong consumer demand. 

Samsung Electronics elevates key India executives amid robust growth

Bullish on its robust growth in the Indian smartphone market amid big investment plans, Samsung Electronics has elevated its two key India executives to new leadership roles.

Asim Warsi, currently the Head of Samsung India's Mobile Division, has been promoted as Global Vice President. 

Dipesh Shah, Managing Director of Samsung R&D Institute in Bengalur

Indian corporates find saviour in bonds as loans dry up

MUMBAI/SINGAPORE - Indian companies are finding it easier to raise funds through bonds than bank loans, as a surge in bad credit chokes off bank lending while investors seek higher-yielding investments for their cash.

The country has seen a record number of corporate bond issues this year, including from lower-rated and first-time issuers, partly as a result of troubl