Tata Steel plans to raise funds

Tata Steel on Monday said its Board of Directors in its meeting this week would consider a proposal for raising funds.

"...a meeting of the Board of Directors of the company will be held on Thursday, April 20, 2017, inter-alia to consider a proposal for fund raising," it said in a filing to BSE.

The company which is the world's second-most geographica

Sensex rises; banks rally as healthy earnings expected

By Darshana Sankararaman

Indian shares rose on Tuesday after three straight sessions of falls as the corporate results season kicked in with banks rallying on expectations of stronger earnings.

The earnings season got off to a weak start with IT major Infosys Ltd issuing a lower-than-expected revenue guidance last week, but analysts still see signs of positive results this q

Over 99 per cent TCS investors approve share buyback

Over 99 per cent of investors of Tata Consultancy Services Ltd (TCS) voted in favour of its special resolution on buyback of 5.61 crore equity shares of Re 1 face value for Rs 16,000 crore, said the software major on Monday.

"In all, 7,341 members voted in favour of the resolution and 577 against it through electronic voting system and physical ballot form between March 17 a

NCLT dismisses Mistry's waiver plea

An apex corporate tribunal on Monday dismissed a plea filed by Cyrus Mistry's investment companies to waive off a regulatory bar on them, so that they can continue their legal suit against the Tata Sons.

Besides, the main petition which was filed against Tata Sons was also rejected.

The National Company Law Tribunal (NCLT) here dismissed the plea filed by Mistry's in

BHEL commissions 2 thermal units in Maharashtra

State-run Bharat Heavy Electricals Ltd (BHEL) on Monday said it has successfully commissioned 2 units of 270 MW at RattanIndia Nasik Power Ltd’s 5x270 MW thermal power project in Maharashtra. “BHEL has successfully commissioned two units of 270 MW at RattanIndia Nasik Power Limited’s 5x270 MW thermal power project, located at Sinnar in Nasik district of Maharashtra,” the

Bhushan Steel promoter settles case with Sebi

Bhushan Steel promoter Neeraj Singal has settled a case related to alleged violation of insider trading norms with markets regulator Sebi after payment of over Rs 4 lakh as a settlement charges. "The adjudication proceedings proposed to be initiated against the applicant (Singal) for the alleged violation... are settled," Sebi said in a settlement order, adding that it would not initi

HCL renews IT services engagement with Singapore Exchange

HCL Technologies said that its IT services engagement with Singapore Exchange has been renewed for an additional five years. No financial details of the deal were disclosed. The new contract expands the scope from the earlier year 2010 engagement covering IT infrastructure, data centre services and IT management, HCL said in a statement. The new contract, in a managed services construct, spans

Indiabulls Real Estate plans to reorganise existing biz

Real estate firm Indiabulls Real Estate Ltd on Monday said that it is looking to reorganise existing business through demerger. In a filing to the Bombay Stock Exchange, Indiabulls Real Estate said, “The company's board in its meeting considered the possibility of streamlining its existing residential, commercial and leasing businesses by segregating ‘commercial & leasing

Air India proposes hefty fines for unruly passengers

National passenger carrier Air India has formulated new guidelines to deal with unruly passengers with hefty fines up to Rs 15 lakh proposed.

According to AI sources, a new set of guidelines and fines have been drafted by the airline's legal team which is awaiting approval from Air India's Chairman and Managing Director Ashwani Lohani's office.

The draft guidelin

Global cues, caution over Q4 results depress equity markets

The Indian equity markets closed on a flat note on Monday as bearish global cues, coupled with caution over the ongoing fourth quarter results season, eroded investors' risk-taking appetite.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 11.50 points or 0.13 per cent to provisionally close at 9,139.30 points.

The 30-scrip Sensitive Index (Se

NTPC power generation cost drops 39.5 paise to below Rs 2/unit

The state-owned NTPC has managed to bring down its cost of electricity generation by an average 39.5 paise while for the Mauda project, it was a decline of Rs 1.65 per unit, mainly because of improvement in coal quality and supply. Data available with NTPC showed that the overall cost of power generation has come down to below Rs 2 last fiscal, driven by improved quality of coal and its supplie

USFDA inspects Baroda plant, no observations issued: Alembic

Alembic Pharmaceuticals today said no observations were issued by US health regulator USFDA after inspection of its Baroda facility. The bio-equivalence facility was inspected by US Food & Drug Administration (USFDA) from March 6-10; March 13-17 and April 10-12, Alembic said in a filing to BSE. "There were no 483s issued by USFDA at the end of the inspection," it added.

L&T Construction bags order worth Rs 2694 crore

L&T has said that its construction arm L&T Construction has won orders worth Rs 2694 crore across various business segments. The company for the water & effluents treatment business has received order worth Rs 2227 crore for the engineering, construction and procurement purposes from Narmada Water Resource Supply and Kalpsar Department, Government of Gujarat for Kadana – Patad

Indo-US civil n-deal deadline will be missed

 The June 2017 deadline for operationalising the Indo-US civil nuclear cooperation will "certainly" be missed, former National Security Adviser M.K. Narayanan said here on Monday.

At the same time, Narayanan expressed optimism about things falling into place, especially with India boosting its uranium supply.

"The deadline will certainly be missed by ever

Reliance Defence partners with South Korean major for smart sensors

Reliance Infrastructure-promoted Reliance Defence and South Korean major LIG Nex1 will jointly explore opportunities in supply of weaponry need by Indian armed forces, the company announced on Monday.

In a statement issued here, Reliance Defence said it has entered into a strategic partnership agreement with LIG Nex1 whereby the two companies will explore opportunities in the indentif

India plans stake sales worth $5.4 billion in seven state-run firms

NEW DELHI/MUMBAI - India plans to sell stakes worth $5.4 billion in seven state-run companies during the current financial year as Asia's third-largest economy looks to fund its fiscal deficit amid ramped-up spending on rural areas and infrastructure.

The part sale of government stakes in state-run and private firms is critical to meet the fiscal deficit targ

Indian shares little changed as investors focus on company results

By Darshana Sankararaman

Indian shares were nearly unchanged on Monday as investors waited for positive corporate results after a disappointing start to the earnings season last week when Infosys Ltd issued a lower-than-expected revenue guidance.

Shares of Infosys, the country's second-biggest software services exporter, were down 0.7 percent after falling 3.87 percent o

Key Indian equity indices open flat

 The key Indian equity indices on Monday opened flat.

The 30-scrip Sensitive Index (Sensex), was trading 23.07 points or 0.08 per cent lower soon after opening.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 6.70 points or 0.07 per cent lower at 9,144.10 points.

The Sensex of the BSE, which opened at 29,470.27 points, was tradin

Quarterly results, geo-political tensions to guide equity markets

The ongoing fourth quarter results' season, along with global geo-political tensions are expected to guide the movement of the Indian equities markets during the upcoming trade week.

"Upcoming fourth quarter earnings results and development in global geo-political tensions are expected to determine the trend of the market," D.K. Aggarwal, Chairman and Managing Director,

RInfra's 2016-17 net profit up 88%

Reliance Infrastructure (RInfra) on Saturday reported an exponential rise of 88 per cent in its consolidated net profit for the entire financial year 2016-17.

The company's consolidated net profit rose to Rs 1,425 crore from Rs 760 crore reported in 2015-16.

According to RInfra, its total income for the financial year under review stood at Rs 28,222 crore from

RIIL`s Q4 net profit rises by over 140%

Reliance Industrial Infrastructure Ltd (RIIL) on Friday reported an exponential rise of 140.1 per cent in its net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 7.30 crore from Rs 3.04 crore reported for the corresponding quarter of 2015-16.

According to the company, its total revenue including 'Other Income' for the quarter un

IndiGo to launch additional flights on domestic network

Budget passenger carrier IndiGo on Friday announced that it will commence additional flights on its domestic network from June 2017.

According to the airline, the additional services will include its 15th flight between Bengaluru and Delhi, and 10th additional flight between Bengaluru and Hyderabad, and Kolkata and Bengaluru (to and fro). 

The airline said it will also

Kudankulam n-plant I shut down for refuelling

The first 1,000 MW unit in Kudankulam Nuclear Power Project (KNPP) belonging to Nuclear Power Corporation of India Ltd (NPCIL) was shut down for around two months for refuelling purposes on Thursday, said a senior official.

Kudankulam is in Tirunelveli district around 650 km from here and NPCIL has two 1,000 MW nuclear power plants there built with Russian equipments.

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37,915 techies exit Infosys; hiring dips 65 per cent

A whopping 37,915 engineers left software major Infosys while its hiring plunged 65 per cent in fiscal 2016-17 thanks to increasing automation and thrust on artificial intelligence in its operations and projects.

According to the employee metrics the outsourcing firm disclosed on Thursday, 37,915 left the company and its subsidiaries worldwide during the fiscal under review (FY 2017)