Sensex ends lower; financials weigh

Reuters Indian shares fell for the second straight session on Wednesday with financials dragging both indexes after the central bank held rates steady and reiterated a "neutral" monetary policy stance.

The broader NSE Nifty closed down 0.73 percent at 10,044.10, while the benchmark BSE Sensex ended 0.63 percent lower at 32,597.18.

 

 

RBI working closely with government on bank recapitalisation plan

MUMBAI - The Reserve Bank of India (RBI) is working very closely with the government on a $32.43 billion bank recapitalisation plan it had outlined in October to deal with huge bad loans at state-run lenders.

RBI Governor Urjit Patel said on Wednesday that the RBI was liaising closely with the government on the share of the recapitalisation each bank would receiv

Airtel, Intex tie up to launch cheaper 4G smartphones

 Bharti Airtel on Wednesday said it has tied-up with Indian smartphones manufacturer Intex Technologies to launch a range of affordable 4G smartphones with advanced features.

According to the telecommunications services provider, the Intex Aqua Lions N1 -- a new 4G smartphone from the Intex stable -- will be available to Airtel customers at a discounted price of Rs 1,649 com

RBI holds repo rate at 6 percent, keeps 'neutral' stance

The Reserve Bank of India kept its policy rate unchanged on Wednesday, as widely expected, after inflation accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus.

All but two of 54 analysts in a Reuters poll had predicted the repo rate would be left for a second straight meeting at 6.00 percent, its lowest since November 2010.

T

Reliance Infra bags 2 EPC contracts in Bangladesh

Reliance Infrastructure Limited has said that it has won two prestigious EPC contracts in Bangladesh together valued at Rs. 5,000 crore. The projects were won on International Competitive Bidding (ICB). The first EPC contract includes setting up the entire infrastructure of a 750 MW LNG-based combined cycle power plant at Meghnaghat (Dhaka) while the second project is for building a 500 MMSCFD

CCI okays Indus Towers` share transfer to Voda shareholders

Fair trade regulator CCI has given its nod to the intra-group transfer of shares of Indus Towers to Vodafone India's shareholders from the telecom operator. According to the Competition Commission of India (CCI), the 12 equity shareholders of Vodafone India had jointly submitted a notice to the regulator for seeking approval.

The proposed combination is an intra-group transfer of

Air India to connect tourist `Golden Triangle` from December 8

 The country's popular tourist circuit -- the Golden Triangle -- connecting national capital Delhi with two other popular tourism destinations of Jaipur and Agra, is set to get air connectivity with the commencement of flight services from December 8.

The inaugural flight service between Jaipur and Agra has been scheduled for December 8 after which regular flights would opera

Sensex slips ahead of RBI rate decision

 Indian shares slipped on Wednesday with banks among top losers, as investors stayed cautious ahead of the central bank's policy decision.

The Reserve Bank of India is widely expected to hold rates for a second time in a row at the end of its two-day meeting later in the day. The decision is due at 1430 local time (0900 GMT).

It is also expected to retain its "

LIC to slow stock investments after bumper buy

MUMBAI  - State-owned Life Insurance Corp of India (LIC) will likely slow stock purchases for the rest of the fiscal year after nearly doubling its equity market investments in the first half from a year earlier.

LIC, with assets of 27.26 trillion rupees ($423.3 billion) as of end-September, had a target of investing 500 billion rupees in stocks through the year

Air India to start Bhubaneswar-Bangkok flight

 Air India will start a direct flight service to Bangkok from the Biju Patnaik International Airport here from December 10, said Odisha Chief Minister Naveen Patnaik on Tuesday.

Patnaik said the direct flight to Bangkok will make Odisha the new gateway to the East.

"Bolstering Odisha's position as new gateway to the East, Air India announced direct flights from Bhubaneswar

Sensex ends slightly lower ahead of RBI policy decision

 Indian shares edged lower on Tuesday as investors remained cautious a day before the central bank's monetary policy decision, while tepid Asian markets also weighed on sentiment.

The broader NSE Nifty closed 0.09 percent lower at 10,118.25 while the benchmark BSE Sensex ended 0.2 percent lower at 32,802.44.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing

Indo National Q2 net profit down 30.71% at Rs 4.76 cr

The company reported standalone net profit of Rs 4.76 crore for the quarter ended September 30, 2017 as compared to Rs 6.87 crore in the same period last year, registering a year-on-year decline of 30.71 per cent. Net revenue of the company declined moderately by 18.68 per cent at Rs 74.67 crore in July-September quarter of this fiscal as against Rs 91.82 crore in the corresponding period last

HOV Services Q2 net profit jumps 74.07% at Rs 0.47 cr

The company reported standalone net profit of Rs 0.47 crore for the quarter ended September 30, 2017 as compared to Rs 0.27 crore in the same period last year, registering a year-on-year growth of 74.07 per cent. Net revenue of the company rose marginally by 2.06 per cent at Rs 3.47 crore in July-September quarter of this fiscal as against Rs 3.40 crore in the corresponding period last year.

Tech Mahindra to hold analyst meet on 8th December

Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering has said that it will be hosting an ‘Analyst Meet’ at Tech Mahindra Limited, Plot no 1., Rajiv Gandhi InfoTech Park, Phase 3, Pune – 411 057. “The event will be hosted on Friday 8th December, 2017 and will commence at 10.00 am.

The Analyst Meet, will see participat

Shree Pushkar Chemicals Q2 net profit up 14.81% at Rs 10.39 cr

The company reported standalone net profit of Rs 10.39 crore for the quarter ended September 30, 2017 as compared to Rs 9.05 crore in the same period last year, registering a year-on-year growth of 14.81 per cent. Net revenue of the company rose moderately by 19.92 per cent at Rs 96.38 crore in July-September quarter of this fiscal as against Rs 80.37 crore in the corresponding period last year

Lumax Auto Technologies Q2 net profit zooms 379.77% at Rs 12.33 cr

The company reported standalone net profit of Rs 12.33 crore for the quarter ended September 30, 2017 as compared to Rs 2.57 crore in the same period last year, registering a year-on-year growth of 379.77 per cent. Net revenue of the company declined marginally by 4.30 per cent at Rs 134.02 crore in July-September quarter of this fiscal as against Rs 140.04 crore in the corresponding period las

Wipro recognized as market leader by ISG

Wipro Limited, a leading global information technology, consulting and business process services company has said that it has been recognized as a market leader in Digital Workplace Services by Information Services Group (ISG), a leading global technology research and advisory firm. According to the ISG Provider Lens™ Digital Workplace Services Quadrant Report, Wipro Limited was among the

TCS invests $50 mn in Cornell Tech

Tata Consultancy Services (TCS), a leading global IT services organization has said that it has invested USD 50 million in Cornell Tech. The investment includes a significant gift for the first phase of capital development on the Roosevelt Island campus, as well as support for collaborating on technology research and expanding K-12 digital literacy programs in New York City.

In recogn

ADB to finance Reliance Power`s LNG project in Bangladesh

Reliance Power has said that the Asian Development Bank’s (ADB) Board of Directors has approved debt financing and partial risk guarantees totaling USD 583 million to develop its Bangladesh Liquified Natural Gas (LNG) and Power Project. The project, which includes a power generation facility to be located in Meghnaghat, near the capital city of Dhaka, and an LNG Terminal, near Kutubdia Is

Tata Motors launches end of the year sales offer

 To push sales during the year-end period, automobile major Tata Motors on Monday said that it has launched a 'Mega Offer Max Celebration' sales offer.

According to the company, the offer provides opportunity to customers "to drive home a Tata car at a down payment of INR 1 and enjoy savings of upto 1 lakh, depending on the model and variant".

"Ta

Mahindra`s electric cars to empower NGO working for physically challenged

Automobile maker Mahindra Electric on Monday donated three battery-driven cars under its CSR initiative to an Non-Government Organisation (NGO) working for the physically challenged.

"NGO Wheels of Change will use our customised electric vehicles (eVeritos) as cabs under its initiative 'KickStart' to enable differently abled to ferry their passengers safely," Mahindr

Sensex declines ahead of RBI policy decision

Indian stocks fell on Tuesday, dragged down mainly by financials such as HDFC Bank Ltd ahead of the central bank's monetary policy decision, while tepid Asian shares also weighed on sentiment.

The Reserve Bank of India is widely expected to keep policy rates on hold, but investors will watch for any hints of a cut at the February meeting, in the policy statement to be released on

Bank of Maharashtra launches share sale

MUMBAI  - State-run Bank of Maharashtra has launched a share sale to institutions to raise around 3 billion rupees ($47 million) to boost its capital ratios, three sources with direct knowledge of the matter said on Monday.

The sources said there was also a so-called greenshoe option for the bank to raise a further 2 billion rupees if demand is sufficiently stron

Exclusive - More Chinese lenders plan to pursue Reliance Communications in insolvency court: sources

HONG KONG/MUMBAI/BEIJING  - Two major Chinese lenders plan to support a move by China Development Bank to put Indian wireless carrier Reliance Communications (RCom) into insolvency court as they seek to recover about $2 billion in debt, said three people with knowledge of the matter.

Last month, CDB began insolvency proceedings against RCom, which has been trying

India fines Monsanto for delays in answering anti-trust questions

NEW DELHI - India's anti-trust regulator has fined Monsanto Co 15 million rupees ($233,000) for being too slow in replying to questions in a competition probe into the U.S. seeds company.

The Competition Commission of India (CCI) last year ordered an investigation into whether Monsanto had abused its dominant position as a supplier of genetically modified (GM) cot