Jindal Steel and Power's (JSPL) Angul factory, the biggest integrated steel plant in Odisha, will produce various types of steel plates and billets which can be can be used for ship building, tank making and other defence purposes, said JSPL chairman Naveen Jindal on Friday.
The 6 million tonne per annum (MTPA) steel-making facility in Angul was made operational on May 27.
Automobile major Tata Motors on Thursday reported that its total sales for last month fell by four per cent to 38,361 units from 40,123 units sold in May 2016.
According to the automobile major, its domestic passenger vehicles decreased by three per cent to 34,461 units from 35,695 units sold in May 2016.
The company's exports last month declined by 12 per cent
BHUBANESHWAR, India - Odisha said on Friday it had approved a plan by JSW Steel to set up a 10 million tonnes a year steel plant costing about 500 billion rupees ($7.8 billion).
JSW, which is India's biggest steelmaker by capacity and produces 18 million tonnes a year, has sought 4,500 acres of land which were earlier allotted to South Korea's Posco, Odisha st
The scrip of global infrastructure conglomerate GMR Infrastructure on Friday surged by 13.71 per cent to Rs 17 on the BSE, after the company reported that its gross debt had fallen to Rs 19,856 crore from Rs 37,480 crore.
On a fiscal 2016-17 consolidated basis, the company reported a net profit (before minority and share of associates) of Rs 8.78 cr
Airport operator GVK Power and Infrastructure on Friday said it will sell 10 percent of its residual stake in Bangalore International Airport Limited (BIAL) in southern India to Fairfax India Holdings Corp for 12.90 billion rupees ($200.23 million).
GVK would sell its stake, held by its unit Bangalore Airport Infrastructure Developers Private Limited, and the proceeds woul
Indian shares climbed on Friday to post record closing highs and a fourth consecutive weekly gain, with Hero MotoCorp Ltd leading the rise on strong monthly sales data.
The broader NSE Nifty closed up 0.39 percent at 9,653.50, while the benchmark BSE Sensex ended 0.44 percent higher at 31,273.29.
The NSE and BSE indexes gained 0.61 percent and 0.79 percent, respectivel
MUMBAI - The former chief executive of the National Stock Exchange (NSE), Ravi Narain, has resigned from its board, an NSE source said on Friday, as regulators examine whether the exchange had provided unfair advantages to some brokers.
Narain's resignation as vice chairman of the board of India's largest exchange is meant to clear any potential obstacle
NEW DELHI - Privatising state-owned airline Air India will be "very difficult" unless the government writes off at least part of its debts, a senior government economic adviser said on Friday after a top policy panel recommended selling off the carrier.
Loss-making Air India, bailed out in 2012 with $5.8 billion of federal funding, has troubled the governmen
By Sankalp Phartiyal and Devidutta Tripathy
MUMBAI - Anil Ambani, chairman of India's Reliance Communications, said on Friday its lenders had agreed to a plan which gives the company a reprieve on its loans until the end of the year, providing a much-needed breathing space.
Ford India has reported 36 per cent jump in total sales to 23,503 units in May this year. The company had sold 17,279 units in the same month of last year, Ford India said in a statement. Domestic sales were up 16.64 per cent to 6,742 units last month as against 5,780 units in May last year, it said.
Exports during the month grew by 45.76 per cent to 16,761 units as compared to 11,499
Honda Motorcycle and Scooter India (HMSI) has reported 23 per cent increase in total sales at 5,37,035 units in May. It had sold 4,36,328 units in the same month last year.
In the domestic market, sales grew 23 per cent to 5,10,381 units last month as against 4,15,860 units in May 2016, the company said in a statement. Exports grew 30 per cent to 26,654 units in May as against 20,468
Honda Cars India Ltd (HCIL) has reported a 13.3 per cent increase in domestic sales at 11,278 units in May. The company had sold 9,954 units in the same month of last year, HCIL said in a statement.
Last month, the company sold 378 units of small car Brio, 1,818 units of premium hatchback Jazz, 1,323 units of compact sedan Amaze and 4,046 units of mid-sized sedan City. The company als
Bharti Airtel, India's largest telecommunications services provider, has said that it has received the approval of the Securities Exchange Board of India (SEBI), Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for the proposed scheme of merger between Airtel and Telenor Communications.
“Further, Telenor and Airtel have filed the joint company application before
India's largest two-wheeler maker Hero MotoCorp has said that it has reported 8.7 per cent increase in sales at 6,33,884 units in May. The company had sold 5,83,117 units in May 2016.
“With the arrival of monsoon at some parts of the country and forecast of normal rains this year, the industry is expecting a boost in demand and consumption in the rural markets,” the co
TVS Motor Company has said that it has posted a sales growth of 16 per cent during the month of May 2017, with total sales increasing from 243,783 units recorded in the month of May 2016 to 282,007 units in the month of May 2017.
The total two-wheeler sales increased by 15.6 per cent from 238,320 units recorded in May 2016 to 275,426 units in May 2017. Domestic two-wheeler sales grew
Syndicate Bank plans to raise Rs 3,500 crore via equity dilution including follow on public offer or rights issue, reported PTI.
The bank will seek permission of shareholders at the annual general meeting to be held later this month.
It has to obtain "approval of the shareholders for the capital issue of the bank for an aggregate amount not exceeding Rs 3,500 crore by w
Automobile companies on Thursday came out with mixed sales figures for last month.
According to Angel Broking, the May sales figures have given mixed signals, while tractors' off-take remained a bright area. However commercial vehicle sales numbers remained subdued due to transition to the BS IV standards.
On a company specific basis, automobile major Mar
By Krishna V Kurup
Indian shares climbed to fresh highs on Friday, heading for a fourth consecutive week of gains tracking upbeat Asian markets, with automakers such as TVS Motor Co Ltd riding high on robust monthly sales data.
Asian markets rose to their best levels in more than two years
The Financial Industry Regulatory Authority (FINRA) said on Thursday it barred John Batista Bocchino, a former Morgan Stanley representative, for concealing around $190 million in Venezuelan bond trades from the firm, which had restricted such trading.
Morgan Stanley had restricted trading in Venezuelan bonds due to regulatory and anti-money laundering concerns as well as risks to its
NEW DELHI - Chennai Petroleum Corp Ltd has shut a 1.8-million-tonne-per-year diesel hydro desulphurisation (DHDS) unit at its 210,000-barrel-per-day refinery at Manali in Tamil Nadu for revamp, people familiar with the plan said on Thursday.
The company has shut the unit to enhance its capacity to 2.3 million tonnes a year and boost production of Euro IV-compliant fue