Renuka Sugars issues shares worth Rs 27 cr to StanC

Renuka Sugars has allotted shares worth Rs 27.21 crore to Standard Chartered Bank against the part-conversion of its loan. The allotment committee of the Board of Directors today "approved the allotment of 1,64,35,338 equity share of face value of Re 1 at a price of Rs 16.56 per equity shares aggregating to Rs 27,21,69,197.28 to Standard Chartered Bank," Shree Renuka Sugars said in a

Equities trade lower, selling pressure subdues sentiments

 Indian equity markets traded on a flat-to-negative note during mid-afternoon trade on Thursday as heavy selling pressure was witnessed in oil and gas, metal and healthcare stocks.

According to market observers, investors remained cautious ahead of assembly elections' exit poll outcome.

Besides, investors were spooked ahead of the European Central Bank (EC

Canadian pension funds buy Kotak Mahindra bank stake worth $338 million

MUMBAI  - Canada's two largest pension funds have bought a stake of about 1.5 percent in India's Kotak Mahindra Bank for about 22.55 billion rupees ($338 million) from its founder and chief executive Uday Kotak, stock exchange data showed on Wednesday.

Caisse de depot et placement du Quebec (CDPQ), Canada's second-biggest public pension fund, bought 1

Flipkart looking to raise $1 billion in latest funding round - source

By Sankalp Phartiyal

MUMBAI - India's top e-commerce company Flipkart is holding talks with investors to raise up to $1 billion in one of its biggest funding rounds so far, a source familiar with developments said on Wednesday.

The source declined to name the potential investors and the exact valuation Flipkart was looking for, but said it hoped the

Karur Vysya Bank launches 3 technology services

To keep pace with technology across the globe, Karur Vysya Bank (KVB) today launched three technology services for the benefit of customers. Briefing reporters on the services, KVB Managing Director and CEO K Venkataraman said FASTag was launched in association with Indian Highways Management Company, a subsidiary of National Highway Authority of India, wherein pre loaded tags affixed to vehicl

BHEL pays 40% dividend to shareholders for 2016-17

State-run power equipment maker BHEL said that it has paid an interim dividend of 40 per cent for 2016-17, which in value terms amounts to Rs 194.8 crore. With this, it has maintained its impeccable track record of earning profits and rewarding investors by paying dividends uninterruptedly for four decades without a break, the company said in a statement.

According to the statement, a

Selling pressure pulls Indian equities lower

Indian equity markets provisionally closed in the negative territory on Wednesday as a marginally weak rupee and heavy selling pressure witnessed in metal, oil and gas, and automobile stocks subdued investors' sentiments.

According to market observers, investors remained cautious ahead of the assembly elections results and the outcome of the European Central Bank (ECB) monetary po

BPCL raises Rs 550 cr via NCDs

Bharat Petroleum Corporation (BPCL) said that it has raised Rs 550 crore through private placement of secured non-convertible debentures (NCDs). The NCDs carry a coupon rate of 7.35 per cent p.a. payable semi-annually with a door-to-door maturity of 5 years, the company said in a filing to the Bombay Stock Exchange.

The proceeds will be utilized for funding of Capital Expenditure of t

Chartered Logistics bags Rs 6.3 cr order from GHCL

Chartered Logistics, a leading player in logistics segment having a pan lndia presence said that it has bagged order worth Rs 6.3 crore from GHCL. “The company has bagged order worth Rs 6.3 CR from GHCL to be completed in three months,” it said in a filing to the Bombay Stock Exchange.

Further, upon completion, the company expects orders worth Rs 15 crore from GHCL to be c

Kotak Mahindra Bank board hikes FII investment limit to 42%

Private lender Kotak Mahindra Bank today said its board has approved raising the ceiling for investment by foreign institutional investors to 42 per cent.

"The board of directors of the bank has approved, subject to statutory and regulatory approvals as may be necessary, increase in ceiling limit for investment by FIIs/sub-accounts of FIIs, FPIs, QFIs, NRIs and PIOs in the equity

IndusInd Bank strengthens footprint in Sikar, Rajasthan

Private sector lender Indusind Bank Ltd on Wednesday said that it has expanded its presence in Rajasthan through opening a new branch in Sikar. In a filing to the Bombay Stock Exchange, the private sector lender said, “IndusInd Bank opens a branch in Sikar - expands presence in Rajasthan. IndusInd Bank has inaugurated a new branch in Sikar, a historical city in the state of Rajasthan, kno

Dishman Pharma reports fire at Bavla unit

Drug firm Dishman Pharmaceuticals and Chemicals Ltd today said there was fire at one of the units of its Bavla facility on Tuesday evening. "There was a fire incident at one of the units (Unit No.7) at our Bavla facility yesterday late evening and it had been brought under control. Health and safety of the people is always our prime concern and that has been achieved," Dishman Pharmac

Zydus Cadila gets USFDA nod to market muscle relaxant

Pharma major Cadila Healthcare Ltd on Wednesday said it has received final approval from the US health regulator to market a muscle relaxant, Tizanidine Hydrochloride Capsules, in the US market. “The company has received final approval from the USFDA to market Tizanidine Hydrochloride Capsules, USP in strengths of 2mg, 4mg and 6mg,” Cadila Healthcare Ltd said in a filing to the Bomb

Apollo Hospitals raises Rs 200 cr via NCDs

Healthcare major Apollo Hospitals has raised Rs 200 crore by allotting 2,000 non-convertible debentures (NCDs) to HDFC Bank. The board of directors of the company has approved and alloted 2,000 NCDs to HDFC bank of face value Rs 10 lakh each amounting to Rs 200 crore, it said in a regulatory filing.

The debentures would be listed on the wholesale debt market segment of the National St

NTPC commissions 45 MW Bhadla solar power plant

State-owned electricity generater NTPC Ltd on Wednesday said that it has commissioned its 45 MW of Bhadla solar power project. In a filing to the Bombay Stock Exchange, the company said, “45 MW of Bhadla Solar Power Project of NTPC Limited has been commissioned.” With this, the installed capacity of Bhadla solar power project has become 160 MW, it said.

The company further

Tata Motors unveils sports car Tamo Racemo

 India's auto major Tata Motors on Tuesday showcased its first sports car, the Tamo Racemo, at the Geneva Motor Show 2017.

It also unveiled its next generation car in the compact category, sedan Tigor as well as SUV Nexon.

"Symbolising the change that is taking place" in the auto maker, the two-seater sports coupe, the first product under its new sub-brand

Housing Bank to use Infosys' Finacle in Algeria

Indian software major Infosys on Tuesday announced that West Asia's Housing Bank would use its Finacle product for operations in Algeria.

"The bank has chosen us to deploy our Finacle core banking, trade finance and internet banking solutions for its operations in Algeria," said the city-based global software firm in a statement here.

The bank will also use Fin

Indian equities trade lower on selling pressure

Indian equity markets traded in the negative territory during the mid-afternoon trade session on Wednesday as negative global cues and heavy selling pressure witnessed in metal, oil and gas, and automobile stocks subdued investors' sentiments.

According to market observers, investors remained cautious ahead of the assembly elections results and the outcome of the European Central

Sebi exempts NIIT promoters' trusts from making open offer

Sebi has exempted two private family trusts, set up by the promoters of NIIT, from making an open offer to the company's public shareholders, reported PTI. Exemption has also been extended to the two trusts with respect to NIIT Technologies. NIIT is a leading IT training solutions provider while NIIT Technologies is an IT firm.

Thadani and Pawar families are among the promoters of

Tech Mahindra sets up centre to showcase smart manufacturing

Tech Mahindra has set up a lab to showcase assets and solutions in areas of digital manufacturing, connected machines, robotics and automation as well as artificial intelligence and analytics, said the media reports. No financial details were disclosed.

Tech Mahindra has taken the lead position by setting up a state-of-the-art lab which works on technologies that are expected to power

Hero MotoCorp declares 2750% interim div for FY17

Country's largest two-wheeler maker Hero MotoCorp Ltd on Tuesday said that its board has declared interim dividend at the rate of 2750 per cent i.e. Rs 55 per equity share of Rs 2 each for FY 2016-17. “The Board of Directors of the company at its meeting held today, viz. March 7, 2017, has declared interim dividend of Rs 55 per equity share of Rs 2 each (at the rate of 2750 per cent)

DCB Bank`s board approves raising up to Rs 400 cr via QIP

Small-time private sector lender DCB Bank Ltd on Tuesday said that its board has approved raising of capital through share issue worth Rs 400 crore to Qualified Institutional Buyers. In a filing to the Bombay Stock Exchange, the bank said, “The Board of Directors of the bank, in the meeting held on Tuesday, March 07, 2017, has approved rasing of capital by way of issue of equity shares to

Reliance Capital sells stake in Paytm parent to Alibaba - source

MUMBAI  - Reliance Capital Ltd has sold a less than 1 percent stake in payments and e-commerce startup One97 Communications to Alibaba Group Holding for 2.75 billion rupees ($41.25 million), a source with direct knowledge of deal said on Tuesday.

The deal valued One97, which owns and operates India's No. 1 digital wallet Paytm, at about $5 billion, the source

General Motors India to stop production at Gujarat plant

Carmaker General Motors India on Tuesday confirmed it will stop production at its plant in Halol in Gujarat next month and consolidate production at its Talegaon plant in Maharashtra.

A company statement said production will cease at Halol plant from April 28.

"We will support our employees at the Halol plant throughout this transition," President and Managing Dire

Global cues, selling pressure subdue Indian equities

Broadly negative global cues and heavy selling pressure witnessed in metal, automobile and healthcare stocks subdued the Indian equity markets on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 16.55 points or 0.18 per cent, to 8,946.90 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,092.16 points, prov