Aditya Birla Sun Life Special Situations Fund: change in investment factsheets for August

Aditya Birla Sun Life Special Situations Fund has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 169.51 crores, compared with Rs 167.86 crores in the last month. The Fund's NAV per unit was Rs 24.77 for Growth, while 52-Week High and Low ranges were Rs 25.02 and Rs 18.41 respectively.

PM Modi targets more energy reforms after meeting oil chiefs

NEW DELHI - Prime Minister Narendra Modi sees scope for further reform of the country's energy sector and has received "focused suggestions" from some of the world's leading energy companies, the office of the premier said on Monday.

Under Modi, the world's third-biggest oil consumer is trying to use its market size to strike better deals with oi

Sensex edges higher; finance stocks lead

Indian shares closed slightly higher on Monday, led by finance and consumer stocks amid caution ahead of the corporate results season that starts later this week.

The broader NSE Nifty ended up 0.09 percent at 9,988.75, while the benchmark BSE Sensex closed 0.1 percent higher at 31,846.89. Both indexes posted two-week closing highs.

The NSE bank index was up 0.26 percent, wi

India`s coffee exports up 9.36% in 2016-17 marketing year

Coffee exports from India, Asias third-largest producer and exporter of coffee, rose by 9.36 per cent to 3,76,873 tonne in the marketing year that ended September 2017, buoyed by higher global prices, according to state-run Coffee Board. The country's coffee shipments stood at 3,44,613 tonne in the 2015-16 marketing year, reported PTI.

"Two factors contributed for higher ship

Government invites applications for SAIL top post

Government headhunter PESB has invited applications for the post of chairman of the country's largest steelmaker SAIL, reported PTI. "The Public Enterprises Selection Board (PESB) is seeking qualified candidates for the post of chairman, Steel Authority of India Ltd (SAIL)," the government headhunter said. The incumbent, P K Singh, is retiring in June next year, a company official

Government raises stake in IDBI Bank to 77.79%

IDBI Bank said its promoter, the government of India, has increased its stake in the company to 77.79 per cent by acquiring 3.81 per cent shares through preferential allotment. The government earlier had 73.98 per cent stake in IDBI Bank.

The government of India has acquired 3.81 per cent shares carrying voting rights in the company due to preferential allotment of equity shares, IDBI

PNB puts 32 NPAs with outstanding loan of Rs 1,176 cr on block

State-owned Punjab National Bank (PNB) has put assets of as many as 32 bad loans with outstanding loan exposure of Rs 1,176 crore on the block in an effort to bring down its NPAs. These non-performing assets (NPA), include Hanung Toys and Textile, Harbs India, United Foods, and Harman Textile. PNB has a total exposure of Rs 771.65 crore to the consortium that extended the loan to Hanung Toys an

Idea Cellular tops Trai`s 4G upload speed rankings in September

Idea Cellular said it achieved the highest 4G upload speed in September citing data compiled by telecom regulator Trai's MySpeed app, reported PTI. Idea Cellular topped the chart in terms of average 4G upload speed for September at 6.307 mbps, the private telecom player said in a statement reeling off the Trai data. It reported an average download speed of 8.74 mbps (megabits per second) du

Dhanlaxmi Bank to raise up to Rs 150 cr via bonds

Dhanlaxmi Bank said it will raise up to Rs 150 crore by issuing bonds in one or more tranches within a year, reported PTI. The decision was taken at the bank's annual general meeting that was held on September 30, the bank said in a regulatory filing. The shareholders authorised the board of directors to issue redeemable secured/unsecured non-convertible debentures in one or more tranches s

Dwarikesh Sugar expects sales to rise up to 15 percent on higher crushing

MUMBAI  - Dwarikesh Sugar Industries Ltd expects sales to rise by up to 15 percent in the 2017/18 crop year as production in Uttar Pradesh could jump to a record high, a top company executive said on Monday.

Farmers in the country's top sugar producing state where the company has its operations, have adopted an early-maturing cane variety that has boosted pro

Indian Oil willing to buy GAIL or Oil India - exec

NEW DELHI - Indian Oil Corp is willing to buy state-owned GAIL (India) Ltd or Oil India Ltd, the company's head of finance, A.K.Sharma, said on Monday

Indian Oil also plans to open offices in Bangladesh and Myanmar in the next 4-6 months, Sharma told reporters at the India Energy Forum by Ceraweek in New Delhi.

(Reporting by Nidhi Verma, Promit Mukherjee

'Millions of weavers vulnerable due to GST'

Millions of India's poor artisans and craftspeople, struggling to keep alive their traditional crafts and livelihoods, have been hit hard by the introduction of the Goods and Services Tax (GST) that has pitted them in an unequal battle against machine-made products, says craft activist Laila Tyabji.

"The position of weavers is very vulnerable today because of GST. Handlo

ONGC Videsh expects Sudan to clear $400 million dues as U.S. lifts sanctions - executive

NEW DELHI - ONGC Videsh expects Sudan to clear about $400 million owed to the state-run energy company after the lifting of the U.S. sanctions, its managing director N.K. Verma said on Monday.

The past dues were relating to building of pipeline and crude sales, Verma told Reuters at the India Energy Forum by Ceraweek in New Delhi.

"Earlier they were fac

Reliance Jio tops TRAI`s 4G download speed test for August

Reliance Jio has topped the telecom regulator's 4G download speed test for the eighth consecutive month, official data showed on Monday.

According to the Telecom Regulatory Authority of India's speed data, Jio recorded average speed of 18.433 Mbps for the month of August.

It was followed by Vodafone (8.999 Mbps), Idea Cellular (8.746 Mbps) and Bharti Airtel

Jindal Steel and Power sells oxygen plant assets for 11.21 bilion rupees

 Jindal Steel and Power Ltd said on Monday it sold two oxygen plant assets to SREI Equipment Finance Ltd for 11.21 billion rupees ($171.70 million).

The steelmaker said it also signed a lease-back deal with the company which finances construction equipment purchases and will continue to operate the assets for manufacturing steel.

The assets are located at the company

Reliance Commercial Finance inks agreement with IREDA for Rs 300 cr loan

Reliance Commercial Finance Ltd on Monday said it has signed an agreement with Indian Renewable Energy Development Agency Ltd (IREDA) for Rs 300 crore loan.

In a statement, the company said the IREDA loan will be used to lend to renewable energy and energy efficiency projects.

The Reliance Commercial Finance is a subsidiary of Reliance Capital while IREDA is a cent

Supreme Court bans firecracker sales in Delhi ahead of peak pollution season

NEW DELHI - The Supreme Court on Monday temporarily banned the sale of firecrackers in and around the capital ahead of Diwali, the Hindu festival of lights, as it looks to prevent a repeat of severe air pollution that forced school closures last year.

New Delhi's air quality has already hit "very unhealthy" levels, U.S. embassy data shows. This is often

Sensex edges up, consumer stocks lead

Indian shares edged higher on Monday, continuing a steady recovery from recent losses, with consumer sector leading the way, but gains were capped as corporate results kick off later this week.

Analysts expect a weak performance in the July-September quarter, due to the impact of the withdrawal of higher-denomination currencies from circulation late last year and the rollout of a nati

Indian Energy Exchange public issue to open on Monday

The Indian Energy Exchange (IEX) announced it has raised an amount over Rs 300 crore from anchor investors, ahead of its initial public offering (IPO) on Monday.

IEX plans to raise Rs 1,001 crore through an IPO, for which it has fixed a price band of Rs 1,645-1,650 per share for its public issue.

In a stock exchange filing on Saturday, the company said would allot 18,19,501

Adani Enterprises to demerge renewable power business

Adani Enterprises on Saturday said that it will demerge the "Renewable Power Undertaking" into Adani Green Energy Limited (AGEL).

The company said that the move will result in listing of AGEL on the BSE and the National Stock Exchange of India. 

According to a company statement, the scheme will simplify the business structure providing the shareholders of AEL

Q2 results, macro-data to define equity indices trajectory

The upcoming quarterly results season, along with key macro-economic data points, are expected to determine the trajectory of equity indices next week.

Market observers opined that global cues, combined with the direction of foreign funds, will also impact investors' risk-taking appetite.

"Markets would look to the upcoming earnings season, though the expe

Oriental Bank says under central bank 'corrective action' over bad loans

MUMBAI - Oriental Bank of Commerce Ltd, a mid-sized Indian state-run lender, said the nation's central bank has initiated "prompt corrective action" against the bank over its high amount of net non-performing assets (NPA).

Oriental Bank is the seventh state-run lender to be put under a corrective action plan, which requires a bank to enact curbs on hirin

Zydus Cadila`s anti-depressant drug gets US regulatory nod

Pharmaceuticals major Zydus Cadila on Saturday said it received approval from the US Federal Drug Authority (USFDA) to market Amitriptyline Hydrochloride tablets for the treatment of depression.

According to the drugs major, it has received approval to market the tablets in strengths of 10 mg, 25 mg, 50 mg, 100 mg and 150 mg.

"The drug is used to treat depression and wi

Global cues, healthy auto sales data spur bull-run in equities

Erasing the previous week's losses, key Indian equity indices -- the BSE Sensex and the NSE Nifty -- closed on a bullish note as positive global cues, along with healthy macro and auto sales data, stimulated investors' sentiments.

Market observers opined that investors remained optimistic on expectations of relief measures from the Goods and Services Tax (GST) Council meet hel

Hyundai Motor India launches Tucson 4WD

Automobile major Hyundai Motor India on Friday introduced a new variant of its SUV Tucson with "4-Wheel Drive (4WD)" system priced at Rs 25.19 lakh (ex-showroom Delhi).

"Introduction of 4WD is to bring to the customer the next level of cutting edge technology... enhancing the overall price value equation through value engineering and passing the price benefit to custome