Patel steps down as Cadila Healthcares MD

Cadila Healthcare on Wednesday said that its Chairman and Managing Director Pankaj R. Patel has stepped down from the latter post.

According to a regulatory filing to the BSE, Patel's son Sharvil P.Patel will take over as the company's new Managing Director.

He was currently the Joint MD.

Sebi calls for stakeholders' views on derivatives market

Stock markets regulator Sebi on Wednesday called for stakeholders' views on various issues related to derivatives trading, so as to further strengthen the framework in line with global best practices.

The regulator floated a discussion paper to evaluate whether there is a need to further strengthen the regulatory framework for derivatives in India. 

As per

Volvo Auto India launches V90 Cross Country

Volvo Auto India on Wednesday launched the V90 Cross Country priced at Rs 60 lakh (ex-showroom, India).

"The car is equipped with features that is unparalleled in the segment and, as part of the product strategy to provide feature-rich standard equipment, we expect V90 Cross Country to bring a healthy contribution to our portfolio," said Tom von Bonsdorff, Managing Dire

Haldia Petrochem seeks more land for upstream refiner

 Haldia Petrochemicals Limited (HPL) is seeking "more land" from the West Bengal government for setting up an upstream refinery plant in order to reduce the imports of primary feedstock naphtha.

"We want to set up an upstream refinery plant here and we are getting ready for that. We seek more land for the project," the company's Executive Vice President an

Sensex, Nifty hit record high; bonds gain on inflation data

Indian shares surged to a record high on Thursday, with the benchmark BSE index rising above 32,000 for the first time after the consumer inflation rate eased to its lowest in five years, cementing hopes for a cut in interest rates in August.

Meanwhile, the most liquid 10-year bond yield fell as much as 4 basis points to 6.42 percent, the lowest since June 22, after data late on Wedne

SEBI asks for feedback to grow equity derivatives market

MUMBAI - India's market regulator Securities and Exchange Board of India (SEBI) on Wednesday solicited feedback from market participants on how to grow and develop equity derivative markets in the country.

SEBI said it would seek discussion in a wide range of topics related to derivatives, including whether to introduce derivatives on stock indices, as well as set

Tata Motors Group's June global wholesales down 2%

Automobile giant Tata Motors Group on Wednesday reported a decline of two per cent in its global wholesales, including Jaguar Land Rover (JLR), during June 2017.

According to the group, its global wholesales declined to 90,966 units over June 2016.

"Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in June 2017 were at 30,241 nos., lowe

NBCC (India) incorporates wholly-owned subsidiary

NBCC (India) said that it has incorporated a wholly-owned subsidiary (WOS) company namely ‘NBCC Environment Engineering’ to carry out the business in the field of Environment and Sustainability. Earlier, the company had incorporated a WOS company namely ‘NBCC International’ to carry out the construction, real estate and project management consultancy business in overseas

Tata Steel offloads its 50% holding in Tata Elastron

Tata Steel has divested its entire 50 per cent stake in Tata Elastron SA to joint venture partner for euro 0.368 million (nearly Rs 2.7 crore), reported PTI. "Tata Steel's entire equity stake in 50 per cent joint venture viz. Tata Elastron SA has been divested to Elastron SA," the company said in a regulatory filing today. Tata Steel said the total consideration from sale is euro

Tata Powers Club Enerji saves 82000 units of energy in Pune

Tata Power on Wednesday said that its nationwide resource and energy conservation movement, Club Enerji, saved 82,116 units of energy in Pune in 2016-17 through primary contact programme. Club Enerji has been constantly spreading awareness about resource conservation across the country, with a strategic focus on national building.

“Continuing with this momentum, in 2016-17, Club

Sensex ends at record close; energy stocks gain

India's main stock indexes closed at their highest ever levels for a third day running on Wednesday, as shares of energy companies such as Reliance Industries Ltd advanced on the back of higher crude prices.

The benchmark BSE Sensex closed up 0.18 percent at 31,804.82 while the broader NSE Nifty ended 0.31 percent higher at 9,816.1.

(Reporting by Arnab Paul; Editing by G

Reliance Jio acknowledges systems breach in police complaint

MUMBAI-

India's Reliance Jio Infocomm Ltd, which is looking into reports of a major leak of user data, has filed a police complaint alleging "unlawful access to its systems," a police officer involved in the investigation said on Wednesday.

The complaint is the telecom company's first official acknowledgement of a s

NCDEX to launch chickpea futures from Friday: sources

India's National Commodity and Derivatives Exchange (NCDEX) will start trading in chickpea futures from Friday, two sources with direct knowledge of the matter told Reuters on Wednesday.

The exchange will initially launch three contracts of chickpea, known locally as chana, said a source, who declined to be named.

Market regulator Securities and Exchange Board of India h

L&T, PTC unveil 'Industry 4.0 Centre of Excellence in India

In a bid to boost Industrial Internet of Things (IoT) in the country, Larsen and Toubro subsidiary L&T Technology Services Limited (LTTS) and US-based computer software company PTC on Wednesday unveiled a Centre of Excellence (CoE) in Bengaluru.

The centre, popularly termed as 'Industry 4.0', will demonstrate digital transformations for companies globally.

Aksh Optifibre bags Jaipur Smart City Project

The shareholders of South Indian Bank approved raising Rs 500 crore debt on private placement basis, reported PTI. At the 89th Annual General Meeting of shareholders, the bank placed resolution "to approve the borrowing/raising funds in Indian/foreign currency by issue of debt securities up to Rs 500 crore on private placement basis." In a regulatory filing, the bank said, "All t

South Indian Bank shareholders approve raising Rs 500 cr

The shareholders of South Indian Bank approved raising Rs 500 crore debt on private placement basis, reported PTI. At the 89th Annual General Meeting of shareholders, the bank placed resolution "to approve the borrowing/raising funds in Indian/foreign currency by issue of debt securities up to Rs 500 crore on private placement basis."

In a regulatory filing, the bank said, &

Union Bank appoints Kewal Handa as Chairman

Union Bank of India said Kewal Handa, former Managing Director of pharma major Pfizer India, has been appointed as its Chairman for three years. Handa has been appointed non-executive chairman and part-time non-official director as per a notification of the finance ministry, the lender said in a BSE filing.

He was MD of Pfizer India from 2005-2012 and prior to that had served as Execu

Jet Airways in talks with airlines, PE players to raise funds

Jet Airways is in discussions with a few foreign airlines and private equity players for raising funds by selling stake, investment banking sources said as per the PTI report. The leading full service airline, where Abu Dhabi-based Etihad Airways already has 24 per cent strategic stake, has been looking to raise funds for expanding operations. The airline has already appointed an investment ban

Sensex edges up on energy stocks; June inflation data awaited

India's benchmark indexes edged higher on Wednesday as shares of energy companies advanced on the back of higher crude prices, though gains were capped as investors turned cautious ahead of consumer inflation data.

Oil prices rose more than 1.5 percent on Wednesday, extending gains from the previous day as the U.S. government cut its crude production outlook for next year and as f

Toyota Kirloskar Motor launches smart phone application

 Automobile major Toyota Kirloskar Motor on Tuesday launched a smart phone application -- Toyota Connect India -- to provide its customers with Toyotas global standards of connected services.

According to the company, the app is a fully integrated cloud based connected service platform supported by a dedicated and specialised call centre, Toyota's dealer networks and ser

Tata Motors extends Ace family of small commercial vehicles

Automobile major Tata Motors on Tuesday extended its Ace vehicles with the introduction of the new XL range of small commercial cargo vehicles.

"Being the market leader in this segment, we understand our customer requirements very well and the new XL range emerges out of this in-depth knowledge and consumer insight," said R.T. Wasan, Head for Sales and Marketing, Commer

Approached lenders for NOC on slump sale of Mundra Power: Adani Power

Adani Power on Tuesday said that it has approached lenders for no-objection certificate (NOC) for a slump sale of its "Mundra Power Project" to its subsidiary company Adani Power (Mundra).

Last month, Adani Power's Board of Directors had approved a proposal for a slump sale of its Mundra Power Project to one of its subsidiary companies.

"Adani Po

Infosys arm offers Finacle on Amazon

Infosys subsidiary EdgeVerge Systems would offer banks the world over its flagship financial software product Finacle on Amazon Web Services (AWS), said the IT major on Tuesday.

"Banks the world over can securely leverage Finacle's solution suite with other enterprise applications hosted on the AWS cloud," said the software firm in a statement here.

B

Major fire in Nalco power plant in Odisha

 A major fire broke out at Nalco's captive power plant in Odisha's Angul on Tuesday, causing extensive damage but no one was injured, the state-run PSU said.

The fire broke out in the old generator transformer of the plant's Unit-8 due to internal short circuit.

However, there has been no injury to any person and there was no production loss on acc

Exclusive: Police detain man in probe of alleged data leak at Jio

By Rahul Bhatia

MUMBAI - Police in Rajasthan on Tuesday detained a man suspected of involvement in what may be a major leak of user data from India's newest telecoms company Jio, a police official said.

Jio, run by India's richest man Mukesh Ambani and his conglomerate Reliance Industries Ltd, said on Monday it was investigating whether personal data