ITI allots equity worth Rs 100 cr to President of India

Indian Telephone Industries Limited, commonly known as ITI Limited, on Wednesday said that it has allotted 10 crore equity shares of Rs 10 each at par amounting to Rs 100 crore to President of India.

“The Board of Directors in its 431st meeting held on 13.09.2017, considered and approved the issue and allotment of 10,00,00,000 equity shares of Rs 10 each at par amounting to Rs.

KGK Group sets up diamond cutting unit in Russia

Diamond and gemstone miners KGK Group has announced the setting up of a diamond cutting and polishing factory in Vladivostok, Russia.

"KGK shall be investing 2.8 billion Russian rubles in this unit. The installed manufacturing capacity is 150,000 carats of diamonds per year," the Hong Kong headquartered KGK, which was founded in Jaipur in 1905, said in a release on Tuesday.< sale from September 21-24 will be holding its sale -- Great Indian Festival -- from September 21-24, a company statement said here on Wednesday.

The sale will start early at 12 noon on September 20 for its Prime members.

"As our customers prepare for the festive season, we are geared up to serve them with blockbuster deals from India's biggest brands," said Manish Tiwary, Vice

Profit booking drags equity markets lower

) The Indian equity markets provisionally closed on a flat-to-negative note on Wednesday due to profit booking.

According to market observers, healthy macro-economic industrial production data, along with broadly positive Asian markets had given a push to key Indian equity indices -- the BSE Sensex and the NSE Nifty 50 -- during the initial trade session.

However, heavy sell

Foreign investors get to up stake in Capital First to 50%

The Reserve Bank has allowed foreign investors to hold up to 50 per cent equity holding in financial services firm Capital First. The company has passed a resolution that has mandated the hike in limit of investment from foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) to 50 per cent, from the 24 per cent earlier.

Due to the increase in the investment limi

Vodafone India launches unlimited international plan for UK, Europe

Vodafone India on Wednesday launched unlimited international plan across the UK and Europe for Rs 180 per day, the company said here.

International travellers can now easily activate a pack and use their number overseas from the UK and other popular travel destinations of Europe like Germany, Spain, Italy, the Netherlands, Turkey, Greece, Portugal, Czech Republic, Romania and Hungary.

Adobe, SSC NASSCOM to implement skill-based programme

Aimed at implementing a strategic skill-based programme in the country, Adobe Systems on Wednesday announced a partnership with IT-ITeS Sector Skills Council Nasscom (SSC NASSCOM).

As part of a Memorandum of Understanding (MoU), the two would jointly develop and implement a sustainable as well as scalable skill-based programme for schools and higher education institutions in the count

Bharti Airtel, SK Telecom tie-up to build advanced network in India

Bharti Airtel and Korea's telecommunications company SK Telecom on Wednesday announced a strategic partnership to build advanced telecom network in India.

The partnership will work across several areas, including developing software to dramatically improve network experience, leveraging advanced digital tools including machine learning, big data and building customized tools, to i

NBCC signs pact with Belarus`BZS for infra, energy projects

NBCC India Ltd said it has signed an agreement with BZS of Belarus for infrastructure and energy projects, reported PTI. The memorandum of understanding (MoU) was signed in the presence of Prime Minister Narendra Modi and Alexander Lukashenko, President of the Republic of Belarus.

"The MoU pertaining to strategic cooperation has been entered between NBCC and BZS for joint partici

Flipkart introduces `anti-theft` packaging

Flipkart said it has developed India's first "anti-theft" packaging to secure goods from in-transit theft and tampering, reported PTI. "Designed specifically for high-net products like mobiles, tablets, and watches, this unique and exclusive pilferage protection box, which is currently awaiting patent grant, incorporates special security features in shipment," Flipkart s

Reliance Jio running `sinister campaign` to bring down IUC: Airtel

In a fresh war of words, Bharti Airtel alleged that Reliance Jio is running a "sinister campaign" to bring down the call connection charges by misleading authorities and the public with inflated figures, reported PTI. Bharti Airtel in a letter to Trai Chairman R S Sharma alleged that Reliance Jio (RJio) has again misrepresented the facts through wrong calculations of interconnection u

Infosys to hire 2,000 American workers by 2021

IT bellwether Infosys on Tuesday said that it will open its North Carolina Technology and Innovation Hub in Raleigh. “This innovation Hub is expected to hire 2,000 American workers by 2021. Towards its plan of hiring 10,000 jobs over 2 years, the company has already hired close to 1,200 American workers,” Infosys said in a filing to the Bombay Stock Exchange.

The new hub,

Wipro bags Citrix Partner of the Year - India, award

Wipro Limited, a leading global information technology services company has said that it has won the Citrix Partner of the Year - India, award. The award is in recognition of Wipro’s efforts in delivering best-in-class work-place digitalization solutions, in line with customers’ evolving needs during the calendar year 2016.

The award recognizes the top performing Citrix pa

Tata Motors`global sales up 9% in Aug, at 94,201 units

Tata Motors has reported 9 per cent increase in global sales for last month to 94,201 units, including that of Jaguar Land Rover (JLR) vehicles. The company had sold 86,288 units in August 2016, Tata Motors said in a statement. In the passenger vehicles category, global sales stood at 58,858 units last month as against 56,104 units during the same period in 2016, a growth of 5per cent.

Jet Airways Q1 2017-18 net profit up more than 100%

Jet Airways on Tuesday reported a rise of 106.72 per cent in its net profit for the first quarter of 2017-18.

According to the company, its net profit rose to Rs 53.50 crore from Rs 25.88 crore reported for the corresponding quarter of 2016-17.

Jet Airways Chairman Naresh Goyal said: "Jet Airways took several focused measures to revitalise its business and realise great

Indian Bank to appoint merchant banker to dilute government stake

State-run Indian Bank is in the process of appointing a merchant banker to initiate the process of diluting the government's holding, an official said on Tuesday.

To conform with SEBI regulations, the bank is required to bring down government holding to 75 per cent from 82 per cent by March 2019.

"We are in the process of appointing a merchant banker for the purpose

Emami Cement eyes 10% market share by 2019

Emami Double Bull Cement, manufactured by Emami Cement Limited, targets taking up its market share to 10 per cent in all regions of its operations by March 2019.

The company aims to achieve the target with increased production capacity to 6 million tonnes per annum (MTPA) by 2018-19, said Vivek Chawla, CEO, Emami Cement Limited.

"Presently, there is 60 million tonnes of

Healthy macro-economic data buoys equity markets

Healthy macro-economic industrial production data, along with broadly positive Asian markets buoyed the key Indian equity indices -- the BSE Sensex and the NSE Nifty 50 -- during the mid-afternoon trade session on Wednesday.

According to market observers, brisk buying was witnessed in healthcare, banking and oil and gas stocks.

At 12.35 p.m. the wider 51-scrip Nifty50 of the

Larsen & Toubro `s construction arm wins orders of Rs 2,525 cr

Engineering and construction conglomerate Larsen & Toubro (L&T) on Tuesday said that its construction arm has won orders worth Rs 2,525 crore across its various business segments.

"The construction arm of L&T has won orders worth Rs 2,525 crore across various business segments," the company said in a stock exchange filing.

L&T said its metallurgical

DLF gets green nod for Rs 240 cr commercial project in Goa

India's largest realty firm DLF said that it has received the environment clearance for its Rs 240 crore commercial project which is to come up in Patto village, Goa. The proposed commercial complex, to be constructed on a 18,120 square meter plot, would have eight small screen multiplexes for small gatherings and it will be the first of its kind in Goa.

The DLF's proposal was

NBCC wins new construction orders worth Rs 3020 cr

National Buildings Construction Corporation India (NBCC) on Tuesday said it has been awarded contracts worth Rs 3,020 crores wherein it is working as project management consultant and will get consultancy fee on the project cost at 6.50 per cent and revenue booking from the projects will start from September, 2017.

“Redevelopment of ITPO Complex into Integrated Exhibition-Cum-Co

Hopes for healthy macro numbers lift equity markets

Investors' hopes for healthy macro-economic numbers, along with positive global cues on the back of easing geo-political tensions, lifted the key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- on Tuesday.

On provisional closing basis, the 30-scrip Sensitive Index (Sensex), gained 277 points or 0.87 per cent.

The wider 51-scrip Nifty of the National Stock

NTPC to start commercial operation at Mouda Thermal Station

NTPC Ltd said that it will commence commercial operation at Unit 2 of 660 MW of Mouda Super Thermal Station, Stage-II (2 X 660 MW) with effect from 18.09.2017. “Unit#2 of 660 MW of Mouda Super Thermal Station, Stage-II (2 X 660 MW) will be declared on commercial operation w.e.f 00:00 Hrs of 18.09.2017,” the company said in a filing to the Bombay Stock Exchange. Further, Unit 1 of 66

India`s fuel demand falls 6.1 percent in August

India's fuel demand fell 6.1 percent in August compared with the same month last year.

Consumption of fuel, a proxy for oil demand, totalled 15.75 million tonnes in August, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Tuesday.

Sales of gasoline, or petrol, were 0.8 percent lower from a year earlier at 2.19 million tonnes.

Steel Exchange gets nod to delist equity shares from CSE

Steel Exchange India said that it has received an approval for the voluntary delisting of company equity shares from Calcutta Stock Exchange (CSE). “The Board of Directors of the Company at its meeting held on September 11, 2017, inter alia, had approved the voluntary delisting of company equity shares from Calcutta Stock Exchange (CSE),” the company said in a filing to the Bombay S