RBI rejigs oversight panel for bad loan resolution

MUMBAI  - The Reserve Bank of India (RBI) on Thursday reconstituted a panel to oversee restructuring of troubled loans, as it strives to cut more than $150 billion of bad debt banks in Asia's third-largest economy have accumulated over the past years.

Pradeep Kumar, a former vigilance chief, was named chairman of the five-member panel, which has three former

Equity markets close on a flat note

 After two days of corrections, the Indian equity markets closed on a flat note during Thursday's trade session.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,351.53 points, provisionally closed at 31,290.74 points (at 3.30 p.m.) -- up a mere 7.10 points, or 0.02 per cent, from its previous close at 31,283.64 points.

It touched a new high of 3

IBREL IBL Scheme Trust sells 3.3 cr shares of Indiabulls Real Estate

Indiabulls Real Estate Limited said that IBREL IBL Scheme Trust has sold 3.3 crore shares of the Company for Rs 662.83 crore. “IBREL IBL Scheme Trust, of which Indiabulls Real Estate Limited (the Company) is the sole beneficiary, has sold 3.3 Cr shares of the Company, on 22nd June 2017 at the stock exchanges, and has realised approx.

Rs 662.83 Crs at an average price of about Rs

Tata Elxsi to create seamless passenger experience for all AAI airports

A global design and technology services firm, Tata Elxsi said that it has been selected by the Airports Authority of India (AAI) out of a competitive global bid to improve passenger experience for all AAI managed airports

. As a strategic design partner, Tata Elxsi will help AAI to provide a seamless passenger travel experience.

Tata Elxsi will be primarily responsible to se

Nila Infrastructures receives work order from AMC

Leading infra company, Nila Infrastructures Limited has said that it has received a work order from Ahmedabad Municipal Corporation (AMC) for the Integrated Slum In-situ Development for Public Private Partnership (PPP) Project (Package-13) of approximately 360 residential units at Ahmedabad under Urban Development & Urban Housing Department, Government of Gujarat’s Slum Rehabilitation

NHPC signs MoU with Ministry of Power for 2017-18

India's premier hydropower utility and a Mini Ratna Enterprise, NHPC Limited has said that it has signed a Memorandum of Understanding (MoU) with Ministry of Power, Government of India for the year 2017-18.

“The MoU was signed by Pradeep Kumar Pujari, Secretary, Ministry of Power, Government of India and K M Singh, CMD, NHPC in the presence of senior dignitaries from MOP and

Mindtree unveils services for creating proficient IT

Mindtree, a global digital transformation and technology services company, has said that it has introduced Mindtree Integrated Services. The service combines next-practice methods and tools to tightly integrate infrastructure and applications into a unified foundation that provides up to 30% cost savings from traditional operating models.

“Mindtree Integrated Services achieves t

Sacked Infosys immigration head files lawsuit in US

Sacked Immigration Head of Infosys Ltd Erin Green has filed a lawsuit before the US District Court at Texas, alleging discrimination and retaliation by the senior management of the global software major.

The civil suit, filed on June 19 in the Eastern District of Texas (Sherman Division), seeks a trial by jury on the alleged discrimination against non-Asian employees at the company

Sensex ends flat after record high; IT pares gains

  The BSE Sensex ended flat after earlier rising as much as 0.8 percent to a record high as IT firms reversed earlier gains after a lobby group issued a muted revenue guidance for exports, while energy firms fell on sliding oil prices.

The benchmark BSE index closed up 0.02 percent at 31,290.74, after earlier hitting a record high of 31,522.87.

The broader NSE Nifty was

NSE gets SEBI notice on preferential access to brokers

 The Securities and Exchange Board of India (SEBI) has issued notice to the National Stock Exchange (NSE) following the market regulator's probe into alleged preferential access given by the stock exchange to some brokers through its 'co-location' facility.

"We have issued a show cause notice to NSE and to 14 key management personnel," SEBI Chairman Ajay Tya

Tata shows interest in buying majority stake in Air India - ET Now TV

NEW DELHI  - India's salt-to-software Tata conglomerate has shown an interest in buying a majority stake in state-run carrier Air India Ltd, television channel ET Now reported on Wednesday, citing unnamed sources.

Prime Minister Narendra Modi's administration has been exploring ways to privatise the loss-making national carrier, which was bailed out in 20

22/06/2017 9:06:06 AM | Posted in Special Event Expert Views read full news
EESL plans Rs 6,000 crore capex during 2017-18 fiscal

State-run Energy Efficiency Services Limited (EESL) plans to invest Rs 6,000 crore as capital expenditure during the 2017-18 fiscal year.

EESL's Managing Director Saurabh Kumar told reporters here on Wednesday that they plan to fund this massive capex through Rs 1,200 crore equity and Rs 4,800 crore debt.

While the company has equity of Rs 485 crore, about Rs 520 crore w

Federal Bank launches $310 million share sale to institutions - term sheet

MUMBAI - Indian private sector lender Federal Bank Ltd has launched a share sale to raise 20 billion rupees ($310 million), with an option to increase the amount by 5 billion rupees, according to a deal term sheet.

Federal Bank said in a regulatory filing on Wednesday it had launched a so-called qualified institutions placement of shares but did not give details.

RBI rate panel dissenter wanted 50 bp cut, rest watching inflation - minutes

MUMBAI - The Reserve Bank of India's monetary policy committee wants more evidence that inflation has sustainably fallen below its target before deciding whether to lower interest rates, minutes from its last meeting showed on Wednesday.

The RBI voted 5-1 to keep the repo rate at 6.25 percent earlier this month, but issued a slightly less hawkish statement after c

NSE gets SEBI notice on preferential access to brokers

The Securities and Exchange Board of India (SEBI) has issued a show cause notice to the National Stock Exchange (NSE) following the market regulator's probe into the alleged preferential access given by the stock exchange to some brokers through its 'co-location' facility.

"We have issued a show cause notice to NSE and to 14 key managemenmt personnel," SEBI Chair

RCap shareholders to decide on home finance demerger in July

 Reliance Capital Ltd on Wednesday said the shareholders' meeting to be convened following a National Company Law Tribunal (NCLT) directive to consider demerger of real estate lending business into Reliance Home Finance Ltd will be held here on July 24.

In a regulatory filing in the BSE, Reliance Capital said the tribunal convened the shareholders' meeting for considerati

TCS inks pact with Andhra University

Tata Consultancy Services (TCS) has inked a pact with Andhra University to help transform the Andhra University School of Distance Education (AUSDE) into a digital university. This will enable easy access to a larger number of students wanting to avail courses offered by the prestigious institute, TCS said in a statement today.

As part of the agreement, AUSDE will deploy the TCS'

Alembic gets USFDA nod for anti-hypertension drug

Vadodara-based drug maker Alembic Pharmaceuticals Ltd on Wednesday said it has received approval from the US health regulator for anti-hypertension drug, Candesartan Cilexetil tablets.

In a filing to the Bombay Stock Exchange, Alembic Pharmaceuticals said, “The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Applicati

Axis Bank signs pact to sell stake in Mswipe Technologies

Private sector lender Axis Bank Ltd on Wednesday said it has inked a pact to sell 1,90,500 equity shares of Mswipe Technologies Pvt Ltd (Mswipe) for a total cash consideration of Rs 80.94 crore.

“The bank has signed an agreement for sale of 1,90,500 equity shares of face value of Rs 1 per share of Mswipe Technologies Private Limited ('Mswipe' or the 'Entity'), at

Premier Ltd gets compensation from of Indian Railways` arm

Premier Ltd said that it has received a compensation of Rs 83.51 crore as a part payment from DFCC Ltd, a subsidiary of Indian Railways. “The company was due to receive compensation from DFCC Ltd, a subsidiary of Indian Railways for compulsory acquiring a part of company’s land,” Premier Ltd said in a filing to the Bombay Stock Exchange.

According to the filing, of t

SEBI tightens rules for offshore derivatives

MUMBAI - Securities and Exchange Board of India (SEBI)on Wednesday tightened regulations on offshore derivatives by increasing fees and banning the sales of certain products, while at the same time easing registration rules for foreign portfolio investors.

The market regulator said its board had decided to impose a fee of $1,000 every three years, starting from April

Petronet in talks to buy 25% stake in GSPC's Mundra LNG terminal

Petronet LNG Ltd, India's biggest importer of liquid gas, is in talks to buy 25 per cent stake in Gujarat State Petroleum Corporation's (GSPC) almost- complete Rs 4,500-crore Mundra LNG import terminal in Gujarat, reported PTI.

The 5-million tonne a year import terminal, the third facility in Gujarat for import of natural gas in its liquid form in ships, is nearing completion

India`s GMR, four others other bid for Belgrade airport

BELGRADE - Four consortia and one company will proceed the next round of bidding for a 25-year concession to operate Belgrade's Nikola Tesla airport, the biggest in the Balkan region, the company and a Serbian government commission said on Wednesday.

Serbia, which has an 83.1 percent stake in the airport, expects the deal to be worth around 400 million euros ($446

Global cues, selling pressure pull equity markets lower

The Indian equity markets on Wednesday closed on a flat note -- marginally in the red -- as negative global cues, a weak rupee and heavy selling pressure in automobile, metal, and oil and gas stocks subdued investors' sentiments.

The wider Nifty of the National Stock Exchange (NSE) fell by 19.90 points, or 0.21 per cent, to provisionally close at 9,633.60 points.

The 30-

IDFC Bank grants stock options to employees

Private sector lender IDFC Bank on Wednesday granted stock options to its employees under the Employee Stock Option Scheme 2015. “The bank has granted to its employees 30,000 options equivalent to 30,000 equity shares at a price of Rs 57.25 per equity share,” IDFC Bank said in a filing to the Bombay Stock Exchange.

These options shall vest over a maximum period of 5 years