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Business News

  • Indian assets doing well; hopeful of few launches in US: DRL

    Indian assets doing well; hopeful of few launches in US: DRL   

    For the first quarter ended June, Dr Reddy’s Laboratories missed estimates on all counts. Revenue declined 14 percent to Rs 3,222.5 crore in the quarter ended June 2016 from Rs 3,752.2 crore in same period last year.

    26 Jul 2016, 9.37 pm  |  Source: CNBC-TV18

  • Mahindra CIE Automotive appoints Ander Arenaza Alvarez as CEO

    Mahindra CIE Automotive appoints Ander Arenaza Alvarez as CEO  

    Mahindra groups auto component arm Mahindra CIE Automotive has appointed Ander Arenaza Alvarez as the Chief Executive Officer of the company with immediate effect.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Lenders recommend SDR for Jaiprakash Power Ventures

    Lenders recommend SDR for Jaiprakash Power Ventures  

    Lenders to Jaiprakash Power Ventures Ltd have recommended invocation of Strategic Debt Restructuring (SDR) which will allow them to convert part of their debt into equity.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Shriram City Union Finance raises Rs 175 crore via debentures

    Shriram City Union Finance raises Rs 175 crore via debentures  

    Shriram City Union Finance has raised Rs 175 crore by issuing non-convertible debentures.

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Lack of financial power hampering airlines from going global

    Lack of financial power hampering airlines from going global  

    Lack of adequate resources and financial strength is the primary reason for the Indian airlines for not having large scale international operations, government said today.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Advanta to exit BSE indices from Aug 1 post UPL merger

    Advanta to exit BSE indices from Aug 1 post UPL merger  

    Seed firm Advanta will be dropped from S&P BSE indices from Monday on account of its merger with group firm UPL Ltd.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • EESL to replace street lights with LEDs in 4 states

    EESL to replace street lights with LEDs in 4 states  

    State-run EESL will soon start replacing conventional street lights with energy efficient LEDs in four more states.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • RBI slaps penalty on UCO Bank, Allahabad Bank, Bank of India

    RBI slaps penalty on UCO Bank, Allahabad Bank, Bank of India  

    RBI has imposed penalty of Rs 2 crore each on Allahabad Bank and UCO Bank, and Rs 1 crore on Bank of India for violation of anti-money laundering norms.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • SBI launches debit card-less instant money transfer facility

    SBI launches debit card-less instant money transfer facility  

    State Bank today launched a payment system at its ATMs which will allow the account holders transfer money using mobile phone number as identifier.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Govt to miss revenue target from telcos: ICRA

    Govt to miss revenue target from telcos: ICRA  

    The telecom sector will, however, contribute to the tune of Rs 5-6 lakh crore over period of next 10 years,, credit rating agency ICRA said today.

    26 Jul 2016, 7.10 pm  |  Source: PTI

  • DoT to issue demand notices this week to 6 telcos for 2006-07

    DoT to issue demand notices this week to 6 telcos for 2006-07  

    According to DoT sources, demand notice is likely to go to Bharti Hexacom for North East and Rajasthan circles, and to all other operators as well for the year 2006-07 for specific circles. The source, however, declined to quantif...

    26 Jul 2016, 7.08 pm  |  Source: PTI

  • Alliance Air starts Delhi-Jaipur flight service

    Alliance Air starts Delhi-Jaipur flight service  

    Air India's regional arm Alliance Air today commenced its flight services to the Rajasthan capital city Jaipur from the Indira Gandhi International Airport here.

    26 Jul 2016, 7.08 pm  |  Source: PTI

  • Pharma sector receives Rs 4,975-cr FDI in FY16: Govt

    Pharma sector receives Rs 4,975-cr FDI in FY16: Govt  

    The drugs and pharmaceuticals sector has received foreign direct investment (FDI) of Rs 4,975 crore in 2015-16, parliament was informed today.

    26 Jul 2016, 6.54 pm  |  Source: PTI

  • Who is Sanjiv Puri? Meet the man who may succeed ITC`s Deveshwar

    Who is Sanjiv Puri? Meet the man who may succeed ITC's Deveshwar  

    Sanjiv Puri, the maiden Chief Operating Officer of consumer giant ITC, is widely regarded as the likely successor to Chief Executive Officer YC Deveshwar. Puri has his task cut out at ITC in case he replaces Deveshwar who steps do...

    26 Jul 2016, 4.18 pm  |  Source: Moneycontrol.com

  • Residential property sales grow 8% sequentially in Q1: Study

    Residential property sales grow 8% sequentially in Q1: Study  

    According to a report by online property portal PropTiger, residential sales increased by 8 percent in the first quarter of 2016-17, while project launches went up by 14 percent to 41,000 units when compared to the last quarter (J...

    26 Jul 2016, 4.18 pm  |  Source: PTI

  • Domestic air passenger traffic grows nearly 21% in June 2016

    Domestic air passenger traffic grows nearly 21% in June 2016  

    Budget carrier indiGo flown the highest number of passengers (30.23 lakh) followed by full service private carrier Jet Airways which, along with its subsidiary JetLite, ferried a total of 15.23 lakh fliers in June 2016.

    26 Jul 2016, 4.18 pm  |  Source: PTI

  • To clock 10% revenue growth in FY17: LG Balakrishnan & Bros

    To clock 10% revenue growth in FY17: LG Balakrishnan & Bros   

    Net profit stood at Rs 9.5 crore against Rs 9 crore in the same quarter last fiscal and revenue stood at Rs 264.3 crore against Rs 247 crore last fiscal.

    26 Jul 2016, 4.07 pm  |  Source: CNBC-TV18

  • Bajaj Fin targets 25% balancesheet growth in medium-to-long term

    Bajaj Fin targets 25% balancesheet growth in medium-to-long term   

    Bajaj Finance expects a 25 percent growth in its balancesheet and 20 percent net income growth from a medium-to-long-term point of view, the company's Managing Director Rajeev Jain tells CNBC-TV18.

    26 Jul 2016, 3.53 pm  |  Source: CNBC-TV18

  • Yamaha sets up second R&D centre in India

    Yamaha sets up second R&D centre in India  

    The new centre, which is located at Kanchipuram district of Tamil Nadu, has been established to ensure optimum utilisation of resources and focus on enhancing of the capability and capacity.

    26 Jul 2016, 3.48 pm  |  Source: PTI

  • NIIT Tech promoters mull strategic sale: Sources

    NIIT Tech promoters mull strategic sale: Sources  

    Sources say that Zensar and Mphasis are two companies that have likely expressed their interest in NIIT Tech. Private equity players may also have shown interest in buying the firm.

    26 Jul 2016, 3.43 pm  |  Source: CNBC-TV18

  • Associate`s poor show took a toll on Q1 numbers: NIIT

    Associate's poor show took a toll on Q1 numbers: NIIT   

    Rahul Patwardhan clarified that in the constant currency basis, the revenues from the CLG business for the first quarter of FY17 rose by 13 percent. The 19 percent rise in revenues is in rupee terms. He maintains a guidance of 15 ...

    26 Jul 2016, 3.39 pm  |  Source: CNBC-TV18

  • Over 1,900 cos spend Rs 8,029 cr towards CSR works in 2014-15

    Over 1,900 cos spend Rs 8,029 cr towards CSR works in 2014-15  

    Out of these companies, 116 were public sector undertakings while 1,790 were private sector entities, Minister of State for Corporate Affairs Arjun Ram Meghwal told Rajya Sabha.

    26 Jul 2016, 3.34 pm  |  Source: PTI

  • See mid-teen sales growth, 22-23% margins ahead: Welspun India

    See mid-teen sales growth, 22-23% margins ahead: Welspun India   

    Welspun India reported a 10.3 percent jump in its net profit to Rs 201.9 crore and 14.3 percent rise in its total income to Rs 1,592.6 crore in the first quarter of FY17. The company’s margins expanded to 26.5 percent.

    26 Jul 2016, 3.27 pm  |  Source: CNBC-TV18

  • ONGC, Cairn India demand halving of cess on crude oil

    ONGC, Cairn India demand halving of cess on crude oil  

    Oil and Natural Gas Corp (ONGC) paid Rs 4,500 per tonne cess on crude oil it produced from almost all its fields including prime Mumbai High, till February 2016. In Budget for 2016-17, Jaitley changed the cess from specific levy t...

    26 Jul 2016, 3.22 pm  |  Source: PTI

  • Fintech sector sees 23 deals worth $184 mn till June this year

    Fintech sector sees 23 deals worth $184 mn till June this year  

    According to News Corp VCCEdge India FinServ Insights, online platforms offering wealth management and lending/ credit services are fuelling fintech investments by the PE/VC/angel community.

    26 Jul 2016, 3.16 pm  |  Source: PTI

  • Emami eyes pan-India cement footprint in 5-7 years

    Emami eyes pan-India cement footprint in 5-7 years  

    Emami Cement, a group company, is in the process of setting up a plant at Panagarh in West Bengal with a capacity of 2 million tonnes per annum (mpta) at a cost of Rs 500 crore. Agarwal said the plant would be ready by December.

    26 Jul 2016, 3.02 pm  |  Source: PTI

  • JSW Steel eyes 15 mn tonne sales in FY`17; 15.75 MT output

    JSW Steel eyes 15 mn tonne sales in FY'17; 15.75 MT output  

    In his speech to the company shareholders today, JSW Steel Chairman and Managing Director Sajjan Jindal said the firm continues to be confident of the India story.

    26 Jul 2016, 2.38 pm  |  Source: PTI

  • DHFL plans to raise Rs 300 cr on pvt placement

    DHFL plans to raise Rs 300 cr on pvt placement  

    "The company proposes to issue secured redeemable non convertible debentures amounting to Rs 200 crore and a greenshoe option of up to Rs 100 crore on private placement basis," DHFL said in a regulatory filing.

    26 Jul 2016, 2.26 pm  |  Source: PTI

  • Govt not considering strategic sale of IDBI Bank: FinMin

    Govt not considering strategic sale of IDBI Bank: FinMin  

    Minister of State for Finance Santosh Kumar Gangwar in a written reply in the Rajya Sabha said: "No" to a question whether the government is proposing strategic sale of IDBI Bank.

    26 Jul 2016, 2.16 pm  |  Source: PTI

  • Green panel against UPRVUNL`s expansion proj in Kanpur

    Green panel against UPRVUNL's expansion proj in Kanpur  

    The state-run UPRVUNL has proposed setting up of a 660 mw coal-based super-critical power plant at Panki in Kanpur district. Its existing plant has a capacity of 210 mw.

    26 Jul 2016, 2.08 pm  |  Source: PTI

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