Dr. Reddy’s Lab acquires stake in Imperial Credit

Leading pharma company, Dr Reddy's Laboratories has said that it has acquired 100 per cent stake in Imperial Credit Private Ltd, a Kolkata-based non-banking finance company. The acquisition was for a consideration of Rs 2.05 crore.

"The acquisition process was consummated on receipt of applicable regulatory approvals. The company proposes to undertake the group's captive

Yes Bank bags ‘Best Social Bank’ award during banking summit

Yes Bank has said that it has been recognized as the ‘Best Social Bank’ (in the mid-sized Bank category) during the ASSOCHAM 12th Annual Banking Summit cum Social Banking Excellence Awards. The award was presented by Shri Arjun Ram Meghwal, Hon’ble Minister of State, Finance, who graced the occasion as the Chief Guest.

This prestigious award recognizes financial inst

Government likely to ask SAIL to operate MIEL till buyer finalised

The government is examining the possibility of India’s largest steel maker Steel Authority of India Ltd (SAIL) undertaking 'operation and maintenance' (O&M) of ailing Monnet Ispat & Energy Ltd (MIEL) till the lenders are able to find a buyer for the company, as per the media reports. However, it may not be possible for SAIL to take over MIEL which is up for sale but it wou

Tata Steel UK may scrap merger talks with German group: Report

Tata Steel could be considering withdrawing from talks on a planned merger of its European business with German conglomerate Thyssenkrupp, British media reported on Sunday.

The Sunday Times newspaper said that Tata Steel is considering a "daring plan to break off a planned merger" of its European business with those of the German conglomerate.

Such a deal with the

Industry data, US interest rate to guide equities markets

Upcoming macro-economic industrial production data and cues on a likely US interest rate hike will determine the movement of the equities indices in the week beginning on Monday.

"The coming week for the markets will be largely dominated by global sentiments, especially the US markets, and the domestic flows which have been gaining prominence in the recent times," Devendra N

India finalises bills to launch GST in July

NEW DELHI - India moved a step closer on Saturday towards launching a new national sales tax from July after a panel of federal and state finance officials finalised two key bills to be put before parliament.

The Goods and Services Tax (GST) has missed several launch dates. On Saturday, Finance Minister Arun Jaitley said the measure is on track for a rollout from July

Selling pressure breaks bull streak, dips indices

Profit booking after five-weeks of a bull streak pulled the key equities markets down during the just concluded weekly trade session.

The key indices closed on a flat-to-negative note, as investors' risk taking appetite got eroded due to a likely US interest rate hike.

However, positive global cues, coupled with upbeat domestic macro-data and inflows of foreign funds arr

ICICI Bank raises $300 million through bond issue

Lending major ICICI Bank on Friday informed the stock exchanges that it has raised $300 million through the issuance of bonds.

"ICICI Bank, acting through its DIFC (Dubai) branch, priced an issuance of 5.5 year fixed rate notes for an aggregate principal amount of $300 million," the lending major informed the stock exchanges.

"The notes were sold under the Reg

Maruti Suzuki launches Baleno RS

Automobile major Maruti Suzuki India on Friday entered into the high-performance segment with the launch of Baleno RS priced at Rs 8.69 lakh.

According to the company, the Baleno RS is powered by a 1 litre 'Boosterjet Direct Injection Turbo Charged' engine - which delivers 20 per cent more power and 30 per cent more torque than a 1.2 litre 'naturally aspirated' petrol

SBI announces penalty for non-maintenance of minimum balance from April 1

Making it compulsory for account-holders to maintain a minimum balance, the State Bank of India (SBI) said on Thursday said it will be charging defaulters a penalty from April 1 onwards.

Making maintenance of Rs 5,000 mandatory for accounts in metropolitan areas, Rs 3,000 in urban areas, Rs 2,000 in semi-urban areas and Rs 1,000 in rural areas, the SBI listed out the charges to be eff

Airtel and Millicom to combine operations in Ghana

Telecom major Bharti Airtel on Friday said it has entered into an agreement with Millicom International Cellular to combine the operations of their respective subsidiaries in Ghana.

As per the agreement, Tigo Ghana and Airtel Ghana will combine their operations in the African country. Airtel and Millicom would have equal ownership and governance rights in the combined entity.

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Boeing sounds out SpiceJet and Jet Airways on 737 MAX-10 aircraft

Boeing Co has approached India's SpiceJet Ltd and Jet Airways Ltd as it gauges airlines' interest in its 737 MAX-10 aircraft, the stretched version of the yet-to-be-delivered 737 MAX narrow-body jetliner, a senior executive said.

Indian carriers are rapidly expanding to meet demand in the world's fastest-growing aviation market, with most of the growth involving flights in

Indian banks` loans rose 4.8 percent in two weeks to February 17 - RBI

Indian banks' loans rose 4.8 percent in the two weeks to Feb. 17 from a year earlier, while deposits rose 12.8 percent, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Outstanding loans rose 62.60 billion rupees ($936.63 million) to 74.85 trillion rupees in the two weeks to Feb. 17. Non-food credit rose 80.70 billion rupees to 73.80 trillion rupees,

Coal India to diversify into 'coal to chemical' business

Coal India intends to diversify into a new "coal to chemical" business domain by converting the high calorific value, low ash thermal coal into chemical, the miner said in a document on Friday.

The miner invited Expression of Interest for pre qualification of Licensors of coal gasification technology for proposed coal based methanol plant.

"In pursuit of imple

Alembic Pharma’s partner launches depression treating drug

Vadodara-based drug maker Alembic Pharmaceuticals Ltd on Friday said that its partner Breckenridge Pharma has launched desvenlafaxine succinate extended release tablets used in the treatment of major depressive disorder. In a filing to the Bombay Stock Exchange, the company said, “Alembic Pharmaceuticals Limited announces launch of desvenlafaxine succinate extended release tablets 50 mg a

Standard Chartered redeems 15 lakh IDRs during February 2017

Standard Chartered PLC, a British multinational banking and financial services company, on Friday said the company has provided the option of redemption of all outstanding IDRs into ordinary shares on a continuous basis from March 01, 2016.

“Based on the valid withdrawal orders received from the IDR holders and in accordance with the process liad down in the updated operating gu

Paytm E-Commerce raises $200 million from Alibaba, SAIF Partners

MUMBAI - Paytm E-Commerce Pvt Ltd has raised $200 million from China's Alibaba Group Holding and venture capital fund SAIF Partners to expand its online retail business in a market dominated by homegrown Flipkart and U.S. tech giant Amazon.

Alibaba.com Singapore E-Commerce Pvt Ltd picked up a 36.31 percent stake in Paytm E-Commerce for investing $177 million, acco

Equities provisionally close flat on global cues

Indian equities markets on Friday provisionally closed on a flat note -- marginally in the red -- as negative global cues and heavy selling pressure witnessed in banking, automobile, and fast moving consumer goods (FMCG) stocks subdued investors' sentiments.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) closed a tad lower by 2.20 points or 0.02 per cent, to 8,897.5

ABB India's wind generators cross 4.5-gw mark

ABB India today said that it has delivered wind power generators of 2,000 units to cross the 4.5 GW-mark in generation capacity. The generators for wind turbines are manufactured in a factory in Gujarat's Vadodara city, which is the fourth such facility in the group.

"We are among the largest manufacturers of wind generators in the country and are privileged to partner the gr

Yamaha sales up 20% to 68,095 units in February

India Yamaha Motor has reported a 20 per cent increase in domestic sales at 68,095 units in February 2017. The company had sold 56,960 units in February 2016, India Yamaha Motor said in a statement. "Yamaha continues to grow with a surge in February 2017 sales while concurrently ensuring Government of India guidelines to introduce BS IV compliant models for all products," Yamaha Motor

Volkswagen India sales jump 58% in February

German auto major Volkswagen has reported 58 per cent increase in sales in India at 3,965 units in February. The company had sold 2,510 units in the same month last year, Volkswagen said in a statement. "The recently launched Volkswagen Ameo is attracting a new set of buyers," Volkswagen Passenger Cars India Director Michael Mayer said in a statement.

With exciting new launc

Tata-DoCoMo truce may leave Japanese firm with $790 million to invest in India - source

By Aditi Shah

NEW DELHI - Tata Sons will split a dispute settlement payment of $1.18 billion owed to NTT DoCoMo over the Japanese firm's exit from a telecoms joint venture, leaving it with about two-thirds of the amount to invest in India, a source said.

Both companies are likely to approach India's central bank within 15 days with a plan that will o

India's GAIL signs 1st time-swap deal for U.S. LNG with Gunvor

By Nidhi Verma

NEW DELHI - State-run gas company GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies.

It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to c

Indian equities pulled lower by negative global cues

Broadly negative global cues, coupled with a weak rupee and heavy selling pressure witnessed in automobile, banking and capital goods stocks, pulled the Indian equities markets lower in the mid-afternoon trade session on Friday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched lower by 29 points or 0.33 per cent, to 8,870.75 points.

The barometer 30-scrip

L&T’s construction arm bags orders worth Rs 2170 cr

L&T has said that its construction arm has won orders worth Rs 2170 crores across its various business segments. The Power Transmission & Distribution Business has secured orders worth Rs 1169 crores. The business has secured an order from Oman Electricity Transmission Company SAOC for turnkey construction of the 400/132 kV Qabel Grid Station and associated works.

On the domes