Ramakrishnan P resigns as Deputy MD of Sobha Ltd

Bangalore-based realty firm Sobha Ltd on Tuesday said that its Deputy Managing Director, Ramakrishnan P, has resigned from the designated post due to personal reasons. “Due to personal reasons, Ramakrishnan P, Deputy Managing Director has tendered his resignation as Deputy Managing Director and Director from the Board of Directors of the company, effective April 07, 2017,” Sobha Ltd

Emami launches its edible oil brands in Bihar

Business conglomerate Emami group has launched its healthy edible oil brand in Bihar to expand its footprint in the state. Emami Group Sales Strategy head Krishna Mohan and its Vice-president Debashish Bhatacharya announced introducing four brands of edible oil in Bihar at a press conference. They said after consolidating its position in the existing market in West Bengal, Emami Healthy & T

Tata Power, Adani Power slump as top court sets aside tribunal order

The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd, sending down shares of both companies.

Shares of Tata Power reversed early gains to fall as much as 6.78 percent, while Adani Power slumped up to 20 percent to its lowest since Feb. 21.

The tribunal, in April last year,

Vedanta says India unit's zinc output up 40 percent in fourth quarter

Diversified miner Vedanta Resources Plc said on Tuesday refined zinc production at its India unit rose nearly 40 percent in the fourth quarter, boosted by higher output at a mine in Rajasthan.

Refined zinc production rose to 215,000 tonnes in the quarter ended March 31, from 154,000 tonnes a year earlier, the company said in a statement.

Full-year integrated zinc production

Flipkart to grow with careful considerations to costs: Binny Bansal

Flipkart Co-founder Binny Bansal said while the latest funding round provides the fuel the company needs to reach its goal of transforming commerce in India through technology, it should continue to grow its business with careful considerations to costs, reported PTI. "I must stress that we still have some distance to go before fulfilling our mission - to transform commerce in India throug

HDFC Bank to raise Rs 50,000-cr in next 12 months

HDFC Bank said it will raise Rs 50,000 crore within a year by issuing debt instruments, reported PTI. The Bank proposes to raise funds by issuing perpetual debt instruments (part of additional tier I capital), tier II capital bonds and senior long term infrastructure bonds up to a total amount of Rs 50,000 crore, the bank said in a regulatory filing.

Perpetual bonds carry no maturity

Equity markets make gains during morning session

The Indian equity markets made gains during the morning trade session on Tuesday following healthy buying in oil and gas, capital goods and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 22.85 points or 0.25 per cent at 9,204.30 points.

The 30-scrip Sensitive Index (Sensex) of the BSE gained 117.96 points or 0.40 per cent

Tata Motors Group's global wholesales up 9%

Tata Motors Group on Monday said its global wholesales, including Jaguar Land Rover, rose by nine per cent in March 2017.

The company said the global wholesales (including Jaguar Land Rover) for the month under consideration stood at 129,951 units -- up nine per cent -- over March 2016.

"Global wholesales of all Tata Motors' commercial vehicles and Tata Da

Cyber attack on Union Bank of India similar to Bangladesh heist - WSJ

MUMBAI  - A cyber attack on Union Bank of India last July began after an employee opened an email attachment releasing malware that allowed hackers to steal the state-run bank's data, the Wall Street Journal reported on Monday.

The attempt closely resembled the cybertheft last year of more than $81 million from the Bangladesh central bank's account at the

CESC likely to announce business restructuring scheme in May

The Rs 32,000-crore RP-Sanjiv Goenka group may announce the "business restructuring scheme" of its flagship power company CESC in May, a company source said on Monday.

The restructuring scheme is "ready" and the company will likely create separate entities for the two verticals-generation and distribution.

"CESC is keen to time the recast a

Flipkart raises $1.4 billion in high stakes battle with Amazon

MUMBAI- India's top e-commerce firm Flipkart has raised $1.4 billion in its biggest fundraising to date as it takes on U.S. tech giant Amazon.com Inc for a larger share of the country's burgeoning online retail market.

Chinese social media and entertainment firm Tencent Holdings Ltd, the world's biggest software company Microsoft Corp and online marketplac

Manufacturing to witness slight decline in Q4

The manufacturing sector is likely to witness a slight decline in the January-March quarter of 2016-17 on increased cost of production, an industry body said on Monday.

"The latest quarterly survey reported a decline in the outlook for the sector for Q4 of 2016-17 due to rising cost of production which has impacted the competitiveness of the sector in the last few months,&qu

China's SAIC says not signed formal agreement to buy GM's India plant

NEW DELHI - SAIC Motor Corp has not signed any formal agreement with General Motors to take over the latter's car plant in the western Indian state of Gujarat, the Chinese automaker said in a statement on Monday.

SAIC has signed a term sheet to evaluate buying the plant but the deal is subject to General Motors securing all government approvals and settling p

NHPC completes mechanical spinning of unit 2 of Parbati proj

NHPC Ltd, an Indian hydro power generation company, on Monday said it has successfully achieved the mechanical spinning of unit 2 of Parbati HE project, stage-II (4X200) MW in Himachal Pradesh. In a filing to the Bombay Stock Exchange, the company said, “Mechanical spinning of unit 2 of Parbati HE project (4X200) MW, stage-II in Kullu, Himachal Pradesh has been successfully achieved on Ap

RBI extends Karur Vysya Bank CEO`s term by 3 months

Private sector lender Karur Vysya Bank on Monday said the Reserve Bank has extended of tenure of K Venkataraman, managing director and chief executive officer of the bank, for a period of three months from June 01, 2017 to August 31, 2017.

“RBI has approval for the extension of tenure of K Venkataraman, managing director and chief executive officer of the bank to continue for a

Geo-political concerns pull Indian equities lower

 Global geo-political tensions, a weak rupee and selling pressure in IT, consumer durables, and Teck (technology, media and entertainment) stocks pulled the domestic equity markets lower on Monday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 16.85 points or 0.18 per cent to 9,181.45 points.

The barometer 30-scrip sensitive index (Sensex) of the

Flipkart raises $1.4 bn from Tencent, eBay, Microsoft

E-commerce major Flipkart on Monday said it has raised a total of $1.4 billion from Tencent, eBay and Microsoft.

The latest funding round, at a post-transaction valuation of $11.6 billion, is the largest in Flipkart's 10-year history as well as in the Indian internet sector and comes as Flipkart gears up to drive the next phase of e-commerce growth in India, a company statement sa

Glenmark Pharma bags approval for Fenofibrate Capsules

Glenmark Pharmaceuticals has said that its US arm has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Fenofibrate Capsules USP, 67 mg, 134 mg and 200 mg, the generic version of Tricor® Micronized Capsules, 67 mg, 134 mg, and 200 mg of AbbVie, Inc.

According to IMS Health sales data for the 12 month period ending February 2017, the Tri

L&T appoints A. M. Naik as Non-Executive Chairman

Larsen and Toubro Ltd has said that its Board of Directors at its meeting have considered and approved the appointment of Mr. A. M. Naik as the Non-Executive Chairman of the Company with effect from October 1, 2017 for a period of three years, immediately upon his retirement as the Executive Chairman on September 30, 2017.

The Board also approved the appointment of Mr. S. N. Subrahman

Indian equities trade lower on global cues

Indian equity markets were pulled lower during the mid-afternoon session on Monday due to mixed global cues on the back of geo-political tensions, a marginally weak rupee and selling pressure in IT, consumer durables, and capital goods stocks.

Investors were also cautious ahead of the upcoming fourth quarter earning results and major macro-economic data points, which are slated to be

Religare to sell stake in Religare Health Insurance for Rs 1,040 cr

Religare Enterprises Ltd (REL) on Sunday announced it will sell its entire 80 per cent stake in Religare Health Insurance to a consortium of investors led by private equity fund True North Managers for an estimated Rs 1,040 crore.

"The company has entered into definitive agreements with a consortium of investors led by True North Managers, an India based private equity fund (form

Snapdeal founders move to calm employees amid takeover speculation

By Sankalp Phartiyal and Aditya Kalra

MUMBAI  - The founders of India's Snapdeal told employees in an email on Sunday that the e-commerce company will ensure there is no disruption to staff "as the way forward becomes clear," as speculation of a takeover swirls.

The email, seen by Reuters, tacitly acknowledged that a sale of the company co

CII Business Confidence index hits record high in last quarter

 Indian companies are upbeat about prospects for economic activity in the new fiscal, industry lobby CII said on Sunday on the basis of its survey, although majority of the firms surveyed cited low domestic demand, fragile global economic recovery and rise in commodity prices as key concerns.

 "The CII Business Confidence (BCI) which has gone up to an all-time high of 6

96% Indians want amended Motor Vehicle Act passed

Ninety-six per cent of Indians want the Motor Vehicle Act (Amendment) Bill, 2016 to be passed in the ongoing parliamentary session. They also believe the move will help meet the UN mandate to reduce road accidents up to 50 per cent by 2020, said a survey on Sunday.  T

he survey, conducted across 10 states to seek the opinion of the citizens on the pending bill, also found that 97

Q4 results, macro-data to guide equity markets' movements

Upcoming fourth quarter earning results, along with macro-economic data points and global geo-political tensions are expected to determine the trajectory of Indian equities markets during the week starting April 10.  "Markets next week would focus on the upcoming earnings season," Devendra Nevgi, Chief Executive of Zyfin Advisors, told IANS.  "Since markets have moved u