Diwali in D-Street: Sensex, Nifty hit record highs

Only a few ahead of Diwali, better-than-expected macroeconomic data boosted investors' sentiment thus enabling key Indian equity indices scale high levels and close at record highs on Monday.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed at 63.40 points, or 0.62 per cent higher, at 10,230.85 points.

The Sensex of the BSE, which opened at 32,488.23

Team Lease Services to acquire Evolve

TeamLease Services said that it has signed a definitive agreement to acquire 100% shares in Evolve Technologies through its wholly owned subsidiary, TeamLease Staffing Services. The transaction, which will be immediately accretive to TeamLease’s earnings per share, will be financed through existing financial resources, the company said in a filing to the Bombay Stock Exchange.

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BPCL sells its first 50 ppm sulphur diesel cargo for export - traders

SINGAPORE - Oil refiner Bharat Petroleum Corp Ltdsold a diesel cargo with a sulphur content of 50 parts per million (ppm) through an export tender for the first time, three industry sources said on Monday.

The Indian refiner sold a combination cargo comprising 15,000 tonnes of 350 ppm sulphur diesel and 20,000 tonnes of 50 ppm sulphur diesel for loading from Mumbai ov

Airtel-Tata deal beneficial but raises integration risk: Standard & Poor`s

Bharti Airtel's takeover of Tata Teleservices' consumer mobile business will bolster its subscriber and revenue market share but could raise integration risk at a time when the Sunil Mittal-led company is also combining operations with Telenor, S&P Global Ratings has said. S&P said however that Airtel's rating is "unaffected" by its recently-announced acquisition o

Bajaj Electricals allots 1,71,675 equity shares

Bajaj Electricals said that it has allotted 1,71,675 equity shares to 52 Employee Stock Option Grantees on their exercise of options granted under ESOP. “The Share Allotment Committee of the Company at its 40th meeting held on October 16, 2017 allotted 1,71,675 equity shares of Rs.2 each, fully paid-up, in the Company to 52 Employee Stock Option Grantees on their exercise of options grant

Federal Bank second-quarter profit rises, beats estimates

 Federal Bank Ltd  posted a 31 percent rise in second-quarter net profit, helped by lower provisions for bad loans.

Net profit rose to 2.64 billion rupees ($40.8 million) in the quarter ended Sept. 30, the mid-sized private-sector lender said on Monday.

Analysts on average had expected a net profit of 2.54 billion rupees, according to Thomson Reuters data.

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Jain Irrigation bags order worth Rs 178.39 cr

Jain Irrigation Systems said that it has received order worth Rs 178.39 crore for supplying, installing and testing of UGPL System of sub minor for Irrigation through Kundies in Chak area for Sardar Sarovar Project command. By implementing this Project, 51051 Ha command area of Sardar Sarovar Project will come under irrigation through Underground Pipe Line Network of length 1400 KMs, the compan

Glenmark Pharma bags approval for Aprepitant Capsules

Glenmark Pharmaceuticals has said that it has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Aprepitant Capsules USP, 40 mg, 80 mg, and 125 mg, the generic version of Emend® Capsules, 40 mg, 80 mg, and 125 mg, of Merck Sharp & Dohme Corporation. According to IMS Health sales data for the 12 month period ending August 2017, the Emend® C

RIL Q2 net surges 12.5% at Rs 8,109 cr, beats estimates

Mukesh Ambani-led Reliance Industries on Friday reported a higher-than-expected 12.5 per cent year-on-year growth in consolidated net profit at Rs 8,109 crore for the second quarter ended September 30, 2017, helped by increase in prices and volumes in refining, petrochemical and retail businesses. “The country’s largest private sector enterprise had registered consolidated net profi

MCX Q2 cons net rises 11% at Rs 29.15 cr

Multi Commodity Exchange of India (MCX), an independent commodity exchange based in India, on Friday reported a 10.84 per cent year-on-year growth in consolidated net profit after tax at Rs 29.15 crore for the second quarter ended September 30, 2017, helped by volume based growth across the traded commodities. “The company had registered consolidated net profit of Rs 26.30 crore in the Ju

Godrej Agrovet surges on market debut

Animal feed producer Godrej Agrovet Ltd's shares surged as much as 37 percent on market debut on Monday after an initial public offering of about $179 million.

Godrej Agrovet stock jumped to as much as 630 rupees from its IPO price of 460 rupees after raising 11.6 billion rupees in the IPO that was subscribed over 95 times earlier this month.

Analysts at Angel Broking ha

Government asks MOIL to make main contribution in Make in India

MOIL must make significant contribution to Make in India by developing technology to meet Manganese requirement of batteries to be used in Electric Vehicles etc., said Steel Minister Birender Singh while chairing mid-year review meeting of MOIL, a PSU under Ministry of Steel. The Minister asked the PSU to plan for building capacities in tungsten mining and production for strengthening manufactu

Flipkart in talks to buy stake in BookMyShow - Economic Times

 E-commerce firm Flipkart is in talks for a partnership with online ticketing platform BookMyShow in a bid to build out its services and transaction offering, the Economic Times newspaper reported.

The talks are at a preliminary stage and may see Flipkart picking up a significant minority stake in BookMyShow, two people familiar with the discussions told the paper.

Flip

Sensex, Nifty touch record high

Better-than-expected macroeconomic data boosted investors' sentiment, which helped key Indian equity indices to touch a record high on Monday.

The 30-scrip Sensitive Index (Sensex) was trading 122.17 points or 0.38 per cent higher during the afternoon trade.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 39.45 points or 0.39 per cent highe

Equity indices to follow quarterly results, macro-data

With the Nifty50 already at record high levels ahead of the onset of the festive season, market observers feel that the ongoing quarterly results season, along with the release of some key data points, are expected to guide the movement of key Indian equity indices next week.

"Keeping aside geo-political issues, which have been on and off, all eyes will be on the Indian indices a

Sahara lawyer says SEBI misled SC on auction process

Sahara on Saturday said that the Securities and Exchange Board of India (SEBI) has misled the Supreme Court as it has blamed Sahara for obstructing the auction process of Aamby Valley.

SEBI has filed a petition in the apex court alleging that Sahara was obstructing the auction process and strongly prayed for initiation of contempt proceedings against the directors of Aamby Valley

NSL to pursue intellectual property litigation with Monsanto

By Mayank Bhardwaj

NEW DELHI- India's Nuziveedu Seeds Ltd (NSL) said on Saturday it will not settle a long-standing intellectual property dispute with Monsanto Co over genetically modified (GM) cotton, despite some other Indian companies doing so in recent weeks.

Reuters reported on Wednesday that three Indian seed makers - Ajeet Seeds, Kaveri Seed Co Lt

Equities ride bulls ahead of Diwali, Nifty scales record highs

Supported by good buying sentiments ahead of Diwali, key Indian equity indices rode the bulls for the second consecutive week, with the wider Nifty50 of the National Stock Exchange (NSE) hitting record highs on the last trading day of the week.

Market observers said the risk-taking appetite of investors got a major fillip by domestic data indicating stable inflation and healthy f

India's IndusInd Bank seals $2.4 billion deal to buy Bharat Financial

By Tommy Wilkes and Devidutta Tripathy

NEW DELHI/MUMBAI - India's IndusInd Bank Ltd agreed an all-share deal on Saturday to buy microlender Bharat Financial Inclusion Ltd for close to 155 billion rupees ($2.4 billion), boosting its presence in microfinance lending and rural banking.

IndusInd will give Bharat Financial's shareholders 639 of its shares

Reliance sees telecoms arm Jio turning profitable `shortly`

By Promit Mukherjee and Sankalp Phartiyal

MUMBAI  - Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters.

Jio launched late last year with free voice and cut-price data, s

Aadhaar helped India save $9 bn from misuse of funds: Nandan Nilekani

The unique identity number given to over a billion Indians by the Aadhaar card had helped India save $9 billion in preventing misuse of its beneficiary welfare schemes, said its architect Nandan Nilekani.

"By having a unique number, you eliminate fakes and duplicates from your beneficiary and employee lists. That alone has saved the government $9 billion," said Nilekani at a

Amrapali Group promoters can't leave the country, orders SC

The Supreme Court on Friday restrained the promoters of real estate major Amrapali Group from leaving the country as it appointed senior counsel Shekhar Naphade and Shubangi Tuli to represent the home buyers in the creditors meeting.

The bench of Chief Justice Dipak Misra, Justice A.M.Khanwilkar and Justice D.Y.Chandrachud said that the home buyers will have to be heard during credito

Delhi HC asks Punjab about preventive steps taken for crop burning

The Delhi High Court on Friday asked the Punjab government about the preventive steps it was taking after news reports that farmers in the state were threatening to burn crop residue if their demands were not met.

The court asked Punjab government to file its response by October 16 on steps taken to prevent stubble burning, a practice which begins in the month of October and continues

Telangana to develop app on urban flooding

With heavy rains frequently bringing this tech hub to a halt, the Telangana government with the help of technology firms is developing an application to address the problem of urban flooding, a senior official said on Friday.

The application to be developed by next rainy season will help alert people in advance so that they can reorganize their commute and work.

State Inform

Modi to visit Bihar, lay stones for projects worth Rs 3,700 cr

Prime Minister Narendra Modi will visit Bihar on Saturday where he will lay the foundation stones for four sewerage projects under the Namami Gange Programme and four national highway projects in Mokama area of Patna district.

The total outlay of these projects will be over Rs 3,700 crore.

The four sewerage projects for which the foundation stone will be laid are Sewage Trea