Indian Oil defers Paradip refinery shutdown to March-April

NEW DELHI  - Indian Oil Corp, the country's top refinery, has delayed maintenance shutdown at its 300,000 barrels per day (bpd) Paradip refinery in eastern Odisha state to March-April, a company spokesman said on Friday.

IOC had earlier planned to shut the refinery for 20 days this month.

"Due to a major job at the hydrogen unit, the refinery w

Gail India launches 3-cargo LNG buy tender - traders

LONDON  - Gail India launched a tender on Thursday to secure three liquefied natural gas (LNG) cargoes between mid-November and January, trade sources said.

Gail seeks one cargo for delivery between Nov. 15 and the end of December, a second cargo for Jan. 1-15 and a third for Jan. 16-31, trade sources said.

Bids must be submitted by Oct. 24 and the tend

Rice prices up in India, Vietnam as rains dampen crop supply

By Koustav Samanta

BENGALURU - Rice prices in India and Vietnam rose this week as prolonged periods of rainfall threatened supply in the two major exporters of the grain.

India's 5 percent broken parboiled rice prices edged up by $4 to $404-$407 per tonne as heavy rainfall in key growing regions is expected to delay harvesting.

"Key produc

Samvat 2074 begins on dull note for key equity indices

Mumbai, Oct 19 Samvat 2074, marking the start of the Hindu New Year, began on a dull note for the key Indian equity indices at a special trading session held on Thursday.

The hour-long session held every year on Diwali saw both the key indices slip during the initial phase of the trade.

The Nifty 50 of the National Stock Exchange (NSE) inched

SpiceJet to provide electricity to Assam village

Budget carrier SpiceJet on Wednedsay said it will provide electricity to un-electrified remote village of Baruahchuck, in Majuli district of Assam.

The airline has adopted the remote village under its initiative of "Roshan Hoga Desh Hamara", launched on the occasion of Diwali.

Majuli has been recognised by the Guinness Book of World Records as the world's large

Hero MotoCorp sells over 3 lakh units on Dhanteras

 Two-wheeler major Hero MotoCorp on Wednesday reported a single day retail sale of more than 3-lakh motorcycles and scooters on Dhanteras, which is the highest-ever by any company across the globe.

"The highest-ever single day retail sales of well over 3 lakh units on Dhanteras comes on the back of what has been a season of new records for Hero," said a company official

Jio unveils new Dhan Dhana Dhan tariff plans

Reliance Jio on Wednesday unveiled its new Dhan Dhana Dhan tariff plans that will be available from Oct 19 and will be applicable for all new as well as existing subscribers.

With Jio's new Rs 459 plan, Jio Prime members can avail unlimited services at 1GB high speed data per day for three months (84 days for prepaid users) followed by data at curtailed speed, alongwith unlimited

'Muhurat' trading: Global cues, profit booking subdue markets

Samvat 2074, marking the start of the Hindu New Year on Thursday, saw both key indices of the Indian equities markets recede as rise in geo-political tensions in the Korean peninsula along with fears of higher non-performing asset (NPA) levels of the domestic banking sector eroded investors' risk-taking appetite.

The hour-long session is held every year on Diwali to mark the start

Abbott`s recent deals, medical device pipeline to fuel growth

By Akankshita Mukhopadhyay and Manas Mishra

 Abbott Laboratories' quarterly results beat estimates and the company raised the top end of its full-year earnings forecast range on Wednesday, as a string of recent deals and medical device approvals help spur growth in its largest unit.

The company has acquired several rivals this year, including St. Jude Medical and Al

IDBI Bank employees to go on two-day strike from Oct 24

A section of IDBI Bank employees has given two-day strike call beginning October 24. United Forum of IDBI Bank officers and Employees have given a 2-day nationwide strike call in support of their demands, IDBI Bank said in a regulatory filing to stock exchanges. Demands include wage revision for employees and officers due for the period from November 2012 to October 2017 on the lines of the set

NIIT Technologies net up 14% in Q2

Global IT solutions provider NIIT Technologies Ltd on Wednesday reported Rs 67-crore net profit for the second quarter (Q2) of fiscal 2017-18, posting 14 per cent growth from Rs 59 crore in the same period year ago.

"Consolidated revenue for the quarter under review (Q2) at Rs 737 crore was up 6.4 per cent from Rs 693 crore in the like period year ago and 4 per cent up sequential

India's bonds, FX markets closed Thurs-Fri; share trading limited

MUMBAI - India's bonds and currency markets will be closed on Thursday and Friday for a public holiday. Share markets will open for a one-hour special trading session on Thursday evening to mark Diwali, the Indian festival of lights, and close on Friday.

On Wednesday the Nifty ended down 0.23 percent, while the benchmark Sensex was 0.08 percent lower. The 10-year

India`s tightened consumer goods standards could hurt China imports

By Neha Dasgupta and Sanjeev Miglani

NEW DELHI  - India is tightening quality controls for consumer and capital goods, officials say, a move that follows calls to curb cheap imports from China amid diplomatic tensions between the world's two most populous nations over their shared border.

The new rules target toys, electronic goods, machinery, food

India`s fuel demand rose 9.9 percent in September

NEW DELHI  - India's fuel demand rose 9.9 percent in September compared with the same month last year.

Consumption of fuel, a proxy for oil demand, totalled 16.26 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

Sales of gasoline, or petrol, were 17.9 percent higher from a year earlier at 2.14 mil

NIIT strengthens GRB operations to drive digital change

NIIT Limited, a global leader in skills and talent development has said that it is strengthening its Global Retail Business (GRB) operations to drive its digital transformation initiatives across the country. To this end, it has announced the appointment of Ganesh Krishnamurthy as Executive Vice President & Head Product Development & Deployment, GRB and Anjali Vaishal, as the Regional H

UltraTech Cement's consolidated Q2 net profit down 30%

Aditya Birla group company UltraTech Cement on Wednesday reported a decline of 31.10 per cent in its consolidated net profit for the quarter ended September 30, 2017-18.

According to the company, its consolidated net profit declined to Rs 423 crore from Rs 614 crore reported for the corresponding quarter of last fiscal due to increased depreciation and higher interest cost relating to

Panacea Biotec gets GMP nod from Ukraine for Baddi facilities

Panacea Biotec said that it has received GMP compliance certificate from the Ukrainian regulator for its manufacturing facilities at Baddi, Himachal Pradesh. The good manufacturing practises (GMP) certificate for Baddi facilities also comes with manufacturing authorisation for 22 medicinal products including four for oncology, Panacea Biotec said in a filing to BSE. The authorisation is valid t

Jubilant Life Sciences issues commercial papers worth Rs 50 cr

Jubilant Life Sciences said that it has issued Commercial Papers (CPs) aggregating to Rs 50 crore on October 17, 2017. The company has issued two commercial papers of Rs 25 crore each providing an interest rate of 6.50 per annum (p.a.) and 6.48 per cent p.a., and matures on December 15, 2017 and December 18, 2017, respectively, it said in a filing to the Bombay Stock Exchange. Meanwhile, shares

Bajaj Holdings Q2 consolidated PAT up 19% at Rs 834 cr

Bajaj Holdings and Investment Ltd (BHIL) today reported a 19 per cent rise in its consolidated profit after tax (PAT) at Rs 834 crore for the September quarter of the current fiscal. The company's PAT in the corresponding July-September period of 2016-17 was Rs 698 crore. "Due to all round performance of BHIL (standalone) and underlying companies, BHIL's consolidated profit after t

Arvind Ltd signs MoU with Gujarat for Rs 300-cr apparel park

Textile major Arvind Limited has signed an MoU with the Gujarat government to set up a mega apparel park with an investment of Rs 300-crore in Dahegam in Ahmedabad district. The MoU has been signed days after the state government announced its garments and apparel policy, 2017, the company said in a release. The "mega apparel facility" will be a "first-of-its-kind" which wil

Claris Lifesciences FPI investment up at 49%; NRI limit 24%

The Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in Claris Lifesciences to 49 percent under the portfolio investment scheme (PIS). "Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in Claris Lifesciences Ltd has increased from 24 per cent to 49 per cent of its paid up capital,&quo

Suven Life Sciences bags product patent from Singapore

Suven Life Sciences Ltd has said that it has been granted one product patent from Singapore (11201507763R) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2033. The granted claims of the patents include the class of selective 5-HT4 compounds and are being developed as therapeutic agen

BMW launches 330i Gran Turismo M Sport at Rs 49.40 lakh

Luxury automobile manufacturer BMW on Tuesday launched new 330i Gran Turismo M Sport priced at Rs 49.40 lakh.

According to the company, the new BMW 330i Gran Turismo M Sport has been locally produced at its Chennai-based plant.

The new luxury vehicle is powered by a two-litre four-cylinder petrol engine and can accelerate from 0-100 km/hr in just 6.1 seconds. It has a fuel m

Nicco Corp under liquidation process: National Company Law Tribunal

The Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday ordered liquidation proceedings against Nicco Corporation Ltd after its lenders voted against a resolution plan.

Referring the case, the status report of the bench for Tuesday said it was "under liquidation process under section 14 of the Insolvency and Bankruptcy Code (IBC)".

Nicco Corporatio

India imposes anti-dumping duty on flat steel imports from China, EU

NEW DELHI - India on Tuesday said it had imposed an anti-dumping duty on the import of some flat steel products from China and the European Union for five years to curb the influx of cheaper imports and help local producers.

The government said in a statement the anti-dumping duty, which is valid for 5 years, is effective from Jan. 11 2017.

(Reporting by Nid