India hopes to auction coal blocks for commercial mining by end-December

NEW DELHI - India aims to auction coal blocks for commercial mining by end- December, coal secretary Susheel Kumar told television channel ET NOW on Thursday, a move that would end monopoly of state-run firms in coal mining.

This could help the country to meet its target and produce 1 billion tonnes by 2020.

Coal accounts for about 70 percent of India's

Key Indian equity market indices open flat

Taking a cue from global markets, the key Indian equity market indices on Thursday opened flat.

Ahead of fourth quarter results, the markets took a cautious approach.

The Sensitive Index (Sensex) of the BSE, which had closed at 29,643.48 points on Wednesday, opened lower at 29, 637.12 points. 

Minutes into trading, it was quoting at 29,594.98 po

Higher fuel prices drive up India's inflation to five-month high

NEW DELHI - Higher fuel costs drove up India's headline inflation to its highest level in five months in March, data showed, vindicating a central bank decision last week to keep its policy rate on hold amid concern about price pressures.

Consumer prices rose by an annual 3.81 percent, their fastest pace since October 2016, compared with February's 3.65 percen

GST coming July 1 despite calls for delay, revenue secretary says

NEW DELHI - India will launch the Goods and Services Tax (GST) as planned on July 1 to boost economic growth and state revenues, a finance ministry official said on Wednesday, despite calls from some businesses for a delay.

The central and state governments were ready to roll out the GST, said Revenue Secretary Hasmukh Adhia, adding that firms should not count on

HC sets aside environment nod for Tata's Chandigarh housing project

The Delhi High Court on Wednesday set aside the grant of various environment approvals given to the Tata Camelot Housing project near Sukhna Lake in Chandigarh.

A division bench of Chief Justice G. Rohini and Justice R.S. Endlaw asked the Punjab government to reconsider all the approval granted by various state authorities for the housing project.

The court's order came

Global cues, upcoming macro-data pull equities lower

Negative global cues along with caution over the upcoming macro-economic data and weak rupee depressed the Indian equity markets on Wednesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) dipped by 35.90 points or 0.39 per cent to provisionally close at 9,201.10 points.

The 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed lower by 158.19 poi

SC ruling on tariff is credit-negative for Tata Power: Moody's

Following the Supreme Court's rejecting the Tata Power plea for compensatory tariff, US rating agency Moody's said on Wednesday that though the company's 'Ba3 negative' rating remains unaffected, the court verdict is a credit-negative for the power major.

"The Supreme Court's decision is credit-negative but does not impact Tata Power Company's (TPC) Ba

Shilpa Medicare gets EIR for Raichur facility

Shilpa Medicare said that has received Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API) manufacturing facilities located at Raichur, Karnataka, which was inspected between December 12-16, 2016. The inspection has now been closed by the USFDA, the company said in a filing.

The company had

Steel exports surge 102% in 2016-17, imports fall 36.6%

Overtaking imports, India's steel exports jumped by 102.1 per cent in 2016-17 to 8.24 million tonnes (mt), as compared to 4.07 mt shipped out in the previous financial year (2015-16), according to a Steel Ministry's report.

"Export of total finished steel was up by 102.1 per cent in April-March 2016-17 at 8.24 mt over same period of last year. Export in March 2017 at 1.62

Cisco unveils Cyber Range Lab in India

Cisco India on Wednesday inaugurated its Cyber Range Lab here that aims to train security staff to build the skills necessary to combat new-age threats.

As the demand for cyber security experts grows manifold than any other IT job, cyber security workforce has become a priority for many organisations.

"With the cyber security framework in place now, the need is for acti

Indian state refiners to revise fuel price in five cities daily from May 1, sources say

NEW DELHI  - India's state-owned fuel retailers plan to implement daily revision of fuel price in five cities from May 1 ahead of a nationwide rollout of the scheme, industry sources said.

To begin with, daily revision of fuel prices will be implemented in Puducherry and Vizag in southern India, Udaipur in the West, Jamshedpur in the East and Chandigarh in th

12/04/2017 11:21:23 AM | Posted in Commodity Top News read full news
Mercedes-Benz India's January-March sales up by 1%

Luxury carmaker Mercedes-Benz India on Tuesday said that its January-March 2017 sales grew by one per cent to 3,650 units, supported by strong sales momentum in the SUV segment.

"2017 began with a positive drive and we are confident of bettering our sales performance in the coming months," Mercedes-Benz India Managing Director and Chief Executive Officer Roland Folger, was q

Vedanta-Cairn India merger becomes effective

Natural resources major Vedanta Ltd. said on Tuesday that its merger with subsidiary energy firm Cairn India has become effective.

"Vedanta Limited (Vedanta) and Cairn India Limited (Cairn India) today (Tuesday) announced that the merger of Cairn India with Vedanta pursuant to the Scheme of Arrangement has become effective," said both firms in a joint statement. 

Setback for Tatas, Adanis as SC rules out compensatory tariff

The Supreme Court on Tuesday rejected the plea for compensatory tariff by Tata Power and Adani Power Ltd for the additional costs that they were incurring on raised prices of the coal they were importing from Indonesia for their power plants in Gujarat.

The bench of Justice Pinaki Chandra Ghose and Justice Rohinton Fali Nariman said: "The doctrine of frustration cannot apply to t

Key Indian equity indices trade flat during early session

Key Indian equity market indices opened flat on Wednesday following global cues.

The 30-scrip Sensitive Index (Sensex) was trading 3.51 points or 0.01 per cent lower during the early session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 3.30 points or 0.04 per cent lower at 9,233.70 points.

The BSE Sensex, which open

Volvo Auto India hikes prices

Luxury car manufacturer Volvo Auto India on Tuesday said that it has hiked prices across all its model range effective since April 1, 2017 due to the rise in input costs.

The revision ranges from a minimum of Rs 54,200 to Rs 250,000.

According to the company, its entire model range would undergo an upward revision in the ex-showroom prices by up to 2.5 per cent.

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Reliance Jio launches new unlimited 'Dhan Dhana Dhan' tariff plan

 Reliance Jio Infocomm on Tuesday said the Jio Summer Surprise has been fully withdrawn, following the Telecom Regulatory Authority of India's advice and the company has launched new unlimited plans for its Prime members, 'Jio Dhan Dhana Dhan'.

The plans start with Rs 309 all unlimited plan, which provides unlimited SMS, calling and data (1GB per day at 4G speed) for

Wipro completes acquiring Brazilian firm

Software major Wipro on Tuesday announced completing the acquisition of Brazilian IT services firm InfoServer SA for $8.7 million (Rs 59 crore) on Monday.

"We would like to inform that the acquisition of InfoServer has been completed on April 10. The impact of the acquisition is expected to reflect in our financials for the quarter ending June 30, 2017," said the IT major in

India's 2017/18 fuel demand seen up 5.8 percent - government

NEW DELHI - India's annual fuel demand is estimated to grow at 5.8 percent in the fiscal year to March 2018, higher than the previous year, government data showed on Tuesday, indicating improved industrial activity.

Local fuel demand - a proxy for oil demand - in India rose about 5 percent in the last fiscal year as economy slowed in the March quarter after govern

Mining group Vedanta completes buyout of Cairn India

MUMBAI - Indian metals and mining group Vedanta Limited said on Tuesday it had completed its buyout of oil and gas explorer Cairn India Ltd, consummating a deal that was delayed for months by investor opposition.

Cairn India said in a separate statement its board had made the merger effective as of Tuesday.

The deal gives Vedanta Limited, the Indian unit of

India FY 2017-18 passenger vehicle sales seen up 9 percent

NEW DELHI - India's passenger vehicle sales are expected to grow by as much as 9 percent in fiscal 2017-18, before stabalising at a higher growth rate in the coming years, the country's auto industry body said on Tuesday.

This year (starting April 1), demand is likley to be disrupted because of the introduction of a unified tax system and a shift to selling ne

Tata launches indigenous TAL Brabo industrial robots

India's first industrial-articulated robots in different sizes targeted at micro, small and medium enterprises besides large-scale manufacturers, to help increase their efficiency, were launched by Tata Motors Ltd here on Tuesday.

The TAL Brabo, weighing 2-10 kg, and costing between Rs 5,00,000 and Rs 7,00,000 are designed to increase productivity by 15-30 per cent and a payback t

Mahindra & Mahindra, SsangYong to develop electric SUVs by 2020

By Zeba Siddiqui

MUMBAI - Indian automaker Mahindra & Mahindra Ltd and its Korean unit SsangYong Motor Co plan to jointly develop a platform to manufacture electric sport-utility vehicles (SUV) by 2020, the companies said on Tuesday.

"We are now very diligently cooperating with Mahindra to develop the new generation of electric vehicles," Choi

BHEL, Indian Railways partner for rooftop SPV systems

State-run Bharat Heavy Electricals Ltd (BHEL) on Tuesday said it has inked a pact with Indian Railways Organisation for Alternate Fuels (IROAF) for installation of 2 MWp roof top SPV systems at Diesel loco Modernisation Works (DMW), Patiala. “BHEL has bagged one more major order of 2 MWp roof top SPV systems to be installed at Diesel loco Modernisation Works (DMW), Patiala and the contrac

Value buying lifts equity markets higher

Value buying and short covering lifted the Indian equity markets to provisionally close on a positive note during Tuesday's trade session.

Healthy buying was witnessed in banking, IT and pharma stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 55.55 points or 0.61 per cent to provisionally close at 9,237 points.

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