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

SpiceJet to commence New Delhi-Jaisalmer route from October 29

Budget passenger carrier SpiceJet on Friday said it will add Jaisalmer to its domestic network effective from October 29, 2017.

According to SpiceJet, it will be the first airline in the country to provide direct air connectivity between Jaisalmer and New Delhi.

"SpiceJet will also introduce direct flights between Jaisalmer and Jaipur from October 29th making it the onl

Reliance sells U.S. shale asset for $126 million

MUMBAI - Indian oil-to-telecoms conglomerate Reliance Industries Ltd has agreed to sell a shale oil and gas block in the United States for $126 million, a third of the price it paid seven years ago, amid a downturn in global oil prices.

BKV Chelsea LLC, an affiliate of energy investment firm Kalnin Ventures LLC, bought the asset, located in the Marcellus shale in nort

Renault looking at 5% market share in 3-4 years

French carmaker Renault is looking to achieve five per cent share of the Indian passenger car market in the next three to four years, a company official said on Friday.

"We want to achieve five per cent market share in the medium term i.e. in next three to four years. Now our market share is close to four per cent," company's Country CEO and Managing Director Sumit

Equities end higher on global cues, surge in metal stocks

Key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- on Friday edged higher to close with substantial gains erasing losses incurred in previous sessions as positive global cues and healthy buying in metals and oil and gas stocks lifted sentiments.

Index heavyweights like Tata Steel, Sun Pharma, NTPC, State Bank of India and Hindustan Unilever, among others, aided in the

Mahindra Fin approves funds mop-up of up to Rs 2,250 cr

Mahindra and Mahindra Financial Services Ltd (Mahindra Finance) today said its board has approved raising up to Rs 2,250 crore through issuance of shares or convertible securities. "The board of directors of the company... has inter alia considered and approved the raising of funds by way of issue of equity shares or convertible securities subject to receipt of necessary approvals, if any,

IndusInd Bank ties-up with Vakrangee for BBPS

IndusInd Bank has tied-up with Vakrangee (VL) for Bharat Bill Payment System (BBPS) platform to deliver wide range of bill payment services from Vakrangee Kendra outlets. Vakrangee shall be part of Bharat Bill Payment System’s ecosystem, as National level partner, as Agent Institution (AI), to deliver nation-wide Electricity, Utility Bill Payments, DTH, Post-paid, Water Bills, Gas Bills a

Government adviser says consolidation may lead to 10-15 state banks

NEW DELHI - A planned consolidation in India's state-run banking sector may lead to 10 to 15 lenders that are majority owned by the government, down from the current 21, a senior finance ministry adviser said on Friday.

The government may cut its stakes in state-run banks to 52 percent, Sanjeev Sanyal, principal economic adviser at the finance ministry, told a Wor

Sensex rises; Tata Steel among top gainers

Indian shares rose on Friday and were headed for a fifth session of gains in six, buoyed by a jump in Tata Steel on strong quarterly production numbers, while investors waited for a meeting of the Goods and Services Tax (GST) Council later in the day.

Analysts expect the council, chaired by Finance Minister Arun Jaitley, to make adjustments to the tax structure for certain payers.

Tech Mahindra hires 100 Americans to ramp up US presence

In a bid to expand its operations in North America, IT major Tech Mahindra on Thursday announced that it has hired more than 100 local, full-time employees at its Alpharetta office in Atlanta.

The hiring initiative is in response to a new contract for a major US company, Tech Mahindra said in a statement.

The addition of new employees has increased the total headcount of the

Wipro arm buys American design firm

 Software major Wipro on Thursday said its digital arm had acquired the US-based design firm Cooper for an unspecified amount to expand its portfolio offerings.

"On acquisition, Cooper will become part of our Designit subsidiary and expand its reach in North America with more capabilities in design education," said the IT major in a statement here.

The San Fra

Aditya Birla Sun Life Balanced 95 Fund: change in investment factsheets for August

Aditya Birla Sun Life Balanced 95 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 10,821.09 crores, compared with Rs 10,147.76 crores in the last month. The Fund's NAV per unit was Rs 736.85 for Growth, while 52-Week High and Low ranges were Rs 750.95 and Rs 598.38 respectively.

Sensex, Nifty snap four sessions of gains; banks drag

Indian shares ended lower on Thursday, snapping a four-session gaining streak, dragged down by financials such as ICICI Bank Ltd amid a lack of fresh triggers after the central bank maintained rates as expected.

The Nifty closed down 0.26 percent at 9,888.70, while the benchmark Sensex 0.25 percent lower at 31,592.03.

RBI panel pushes new rules so lenders pass on rate cuts more quickly

MUMBAI - A panel created by the Reserve Bank of India (RBI) said lenders are not sticking to rules that determine how much they can charge for loans, and proposed new requirements that could force banks to pass on interest rate moves to customers more quickly.

The panel, set up to look into why commercial banks were not passing on the central bank's rate cuts, sai

Reliance Communications scrapping merger plan with Aircel credit negative: Moody`s

Reliance Communications' aborting the plan to merge with Aircel is credit negative for the Anil Ambani-led firm as it was crucial to pare debt, Moody's Investors Service said today. RCom and Aircel had in September last year signed a binding agreement to merge their mobile businesses.

But, on Sunday, RCom announced that the agreement had lapsed owing to legal and regulatory un

SBI`s new boss puts bad debt under microscope, but also eyes growth

MUMBAI - Tackling bad debts will be the priority for State Bank of India, its newly appointed chairman Rajnish Kumar said on Thursday, but India's largest bank will not shy away from opportunities to grow, including in infrastructure lending.

India's state-run banks have been battered by soured loans, a $140 billion problem which has choked off new credit and

India considering exemptions sought by Apple, says government official

NEW DELHI- The Indian government is considering exemptions sought by Apple Inc for setting up a unit to assemble iPhones, Ramesh Abhishek, the top bureaucrat in the Department of Industrial Policy and Promotion, said on Thursday.

The department is a part of India's commerce and industry ministry.

Apple has asked federal government officials for a range o

Incoming boss of SBI says bad debt numbers "will look better"

MUMBAI - Tackling bad loans will be a priority for India's largest bank, said the newly appointed chairman of State Bank of India, Rajnish Kumar, addressing his first press conference since the appointment was announced late on Wednesday.

SBI, which accounts for more than a fifth of India's banking assets, has seen bad loans rise after it absorbed five subsidi