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Jindal brothers near $782 mln power plant deal - sources| Reuters

Mar 21, 2016 at 23:45 | Source: FirstPost

MUMBAI Indian billionaire Sajjan Jindal's JSW Energy is nearing a deal to buy a 1,000 megawatt (MW) coal-fired power plant from his brother's debt-laden Jindal Steel & Power for about $782 million, two sources familiar with the matter said.A deal...

E-commerce firm Infibeam eyes $334 mln valuation in sector's first IPO| Reuters

Mar 16, 2016 at 01:30 | Source: FirstPost

MUMBAI E-commerce firm Infibeam Incorporation is eyeing a valuation of as much as $334 million as it sells shares next week in the sector's first initial public offering.The company, founded by former Amazon.com (AMZN.O) employee Vishal Mehta in 2007...

Mahindra plans to invest $1.5 bln over three years | Reuters

Mar 15, 2016 at 01:15 | Source: FirstPost

MUMBAI Mahindra & Mahindra Ltd, India's top utility vehicle maker, plans to invest 100 billion rupees ($1.49 billion) over three fiscal years ending March 2018, the company said in an analyst presentation.Mahindra will invest 75 billion rupees of...

Dubai developers keep building despite weak market and echoes of 2008| Reuters

Mar 09, 2016 at 01:45 | Source: FirstPost

DUBAI Dubai developers are pressing ahead with their construction plans despite expectations that property prices will fall yet further this year, undaunted by memories of a 2008 crash.Industry consultants say that while sales volumes have slumped in...

NALCO share buyback delayed to 2016/17 - official| Reuters

Mar 09, 2016 at 01:30 | Source: FirstPost

NEW DELHI Indian aluminium company NALCO's plan to buy back up to 32.5 billion rupees ($483 million) of government shares will be delayed to the next fiscal year because of procedural delays, a government official said Tuesday."Buy-backs are a l...

India unveils fire-fighting budget to placate voters, sustain growth| Reuters

Feb 29, 2016 at 23:45 | Source: FirstPost

NEW DELHI The government unveiled a fire-fighting budget on Monday that seeks to win back support among rural voters for Prime Minister Narendra Modi's government and sustain growth against a grim global backdrop - all without borrowing more.Finance ...

Shareholder in Kotak Mahindra Bank launches up to $300 mln stake sale| Reuters

Feb 29, 2016 at 23:30 | Source: FirstPost

HONG KONG An unnamed foreign shareholder has launched an up to $300 million share sale in Indian private sector lender Kotak Mahindra Bank, according to a term sheet of the deal seen by Reuters.The shares are being sold in a range of 611.34 rupees to...

Reliance Comm and Aircel in talks to merge Indian mobile businesses| Reuters

Dec 22, 2015 at 22:45 | Source: FirstPost

MUMBAI Reliance Communications and Aircel have begun talks to combine their wireless telecom operations to create India's second largest mobile operator as intensifying competition fuels consolidation in a crowded market. The Reliance mobile phone bu...

India upgrades its air defences from Russia for Rs 30000 crore

Dec 18, 2015 at 08:17 | Source: FirstPost

New Delhi: India's Defence Acquisition Council has cleared the purchase of five S-400 air defence systems from Russia, two defence ministry sources said.One of the sources, speaking on the condition of anonymity, said the deal is expected to cost aro...

Traders suspect RBI intervened to support rupee, bonds, ahead of Fed| Reuters

Dec 18, 2015 at 01:30 | Source: FirstPost

MUMBAI Traders suspect The Reserve Bank of India (RBI) bought bonds and actively intervened in the rupee to support sentiment ahead of the U.S. Federal Reserve's decision to raise interest rates, several market participants told Reuters. The RBI was ...

Micromax plans to make all phones locally| Reuters

Dec 18, 2015 at 00:45 | Source: FirstPost

NEW DELHI Indian consumer electronics firm Micromax Informatics will manufacture all of its phones in India by 2018, its co-founder said, as it shifts production from China back home, where costs are becoming cheaper.Rahul Sharma said with less than ...

Govt sees little Fed hike impact on 'fortressed' Indian markets

Dec 17, 2015 at 16:40 | Source: FirstPost

New Delhi: Asserting that Indian markets is well 'fortressed' to deal with any major volatility, the government today said the long-awaited rate hike by the US Federal Reserve will have minimal impact here and should not lead to any large-scale outfl...

Rally in local sugar prices puts brakes on India's exports| Reuters

Dec 17, 2015 at 00:30 | Source: FirstPost

MUMBAI/LONDON Indian sugar exports are likely to slow down in coming month as a 12 percent jump in local prices in a fortnight has discouraged mills from signing new export deals despite a government mandate for overseas sales.The slowdown in exports...

Bangladesh police arrest 10 on suspicion of militant activity| Reuters

Dec 05, 2015 at 00:16 | Source: FirstPost

DHAKA Security forces in Bangladesh arrested six people on Friday on suspicion of human trafficking and currency smuggling and possible involvement in militant activity, a spokesman for the special forces Rapid Action Battalion said.One Pakistani nat...

Alkem IPO price band set at 1,020-1,050 rupees/share| Reuters

Dec 02, 2015 at 01:30 | Source: FirstPost

MUMBAI Indian drugmaker Alkem Laboratories has set the indicative price band for its initial public offering at between 1,020 rupees ($15.33) and 1,050 rupees ($15.78) a share, the company said in a statement on Tuesday.At the top end of the price ba...

Indian gold demand seen falling to eight-year low in festive quarter| Reuters

Nov 27, 2015 at 00:22 | Source: FirstPost

MUMBAI India's gold buying in the key December quarter is likely to fall to the lowest level in eight years, hurt by poor investment demand and back-to-back droughts that have slashed earnings for the country's millions of farmers.The sluggish demand...

Masala bonds funding opportunity for NBFC, govt issuer, says Moody's

Nov 24, 2015 at 18:34 | Source: FirstPost

New Delhi: Masala bonds will create an alternative funding source and firms like IRFC, PFC, REC, NTPC along with big NBFCs could issue these rupee denominated overseas bonds in the next 12 months, Moody's Investors Service said today."Over the n...

Indian infrastructure firms seek to diversify debt with masala bonds| Reuters

Nov 24, 2015 at 01:15 | Source: FirstPost

MUMBAI/SINGAPORE Some of India's most indebted infrastructure and steel groups are considering so-called masala bonds to diversify their funding options as local banks tighten lending, investment banking sources with direct knowledge of the situation...

Lenders to grounded Kingfisher Air to auction some assets| Reuters

Nov 21, 2015 at 21:45 | Source: FirstPost

MUMBAI Lenders who are owed more than $1 billion by grounded carrier Kingfisher Airlines Ltd are putting up for sale some of its assets including cars and forklifts. An auction notice appeared on Saturday on the website of the trustee company repres...

Panel recommends nearly 25 pct hike in 7th Pay Commission| Reuters

Nov 19, 2015 at 23:30 | Source: FirstPost

MUMBAI An Indian government panel has proposed a 23.55 percent rise in salaries and pensions for about 10 million current and former government employees, smaller than past increases as New Delhi faces pressure to curb its fiscal deficit and prices.E...

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