Indian equity markets slid into the bearish zone as investors booked profits after a week of substantial gains. Despite that, a key index made record highs during the truncated trade week ended May 5.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) scaled a new closing high of 9,359.90 points on May 4 and an intra-day high of 9,374.55 on May 5.
MUMBAI - India named new chief executives for seven state-run banks on Friday, at a time when regulators are trying to clean up record bad loans in the sector.
The new appointments coincide with the government's efforts to try to tackle the banking industry's $150 billion of bad loans, the bulk of which is on the books of state-run banks.
NEW DELHI - Indian government's decision for change in the country's banking laws is aimed at speeding up resolution of bad loans and providing comfort to bankers in taking decisions, Finance Minister Arun Jaitley said on Friday.
The government earlier on Friday notified tweaks in the Banking Regulation Act through an executive order, further empowering
India Cements Capital Ltd, part of India Cements group, today said it will surrender its registration for non-banking finance company to banking regulator RBI. The board at its meeting held today "has considered and decided to surrender the certificate of registration as 'non- banking finance company' without accepting public deposits to the Reserve Bank of India", the company
State-run power equipment maker BHEL today said its solar energy portfolio crossed the 370 MW mark in 2016-17. BHEL ended 2016-17 with a significant solar PV portfolio of 370 MW, comprising 360 MW ground-mounted power plants and 10 MW rooftop power plants, a company statement said. According to the statement, out of 370 MW, 170 MW of BHEL-supplied ground-mounted and 2,290 KW of rooftop power pl
By Rishika Sadam
Cognizant Technology Solutions Corp reported a higher-than-expected quarterly profit and said it would beef up hiring in the United States, a move that comes amid U.S. President Donald Trump's tough stance on the H1-B visa rules.
Cognizant gets more than 75 percent of its revenue from North America and relies heavily on workers on H1-B visas to pro
Profit booking along with a weak rupee dragged the key Indian equity indices lower on Friday.
According to market observers, selling pressure was witnessed in the metal, auto, oil and gas stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 84.25 points or 0.90 per cent to provisionally close the day's trade at 9,275.65 points.
Private-sector lender, IndusInd Bank said that it has inaugurated its 18th branch in Jaipur, the ‘Pink City of India’. The new branch is located at Ground floor, Shop no 1 & 2, Residency Royale, Sardar Patel Marg, C-Scheme, Jaipur, the Bank said in a filing to the Bombay Stock Exchange. With the inauguration of this branch, the bank now has 94 branches in the state of Rajasthan,
Trident, an exporter of Home Textile products said that it has issued Commercial Paper for an aggregate amount of Rs 500 million on May 5, 2017. The commercial paper having a tenure of 90 days will mature on August 3, 2017, the company said in a filing to the Bombay Stock Exchange.
The CP have been rated ‘A1+’ by the leading rating agency, India Ratings & Research, it
By Rajesh Kumar Singh and Devidutta Tripathy
NEW DELHI/MUMBAI - India on Friday tweaked its laws to help tackle a record $150 billion in troubled bank debts, giving the Reserve Bank of India (RBI) greater power to identify and enforce resolution on specific soured loans.
In an executive order that alters a Banking Regulation Act, the government authori
NEW DELHI - India is looking at creating a national no-fly list of unruly passengers, the top bureaucrat at the civil aviation ministry said on Friday, weeks after a lawmaker admitted assaulting an official from state-owned carrier Air India.
The list will be maintained by the country's civil aviation regulator, Civil Aviation Secretary R.N. Choubey said.
MUMBAI - President Pranab Mukherjee has given his nod to the ordinance dealing with the banking sector's non-performing loans and the amendment to the Banking Act, television channels reported on Friday.
Spokesman for the President and the country's finance minister Arun Jaitley declined to comment on the ordinance.
Finance Minister Arun Jaitle
Key Indian equity market indices opened in the red on Friday following global cues.
The 30-scrip Sensitive Index (Sensex) was trading 100.46 points or 0.33 per cent lower during the early session.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 24.90 points or 0.27 per cent lower at 9,335 points.
The BSE Sensex, which opened at 30,142
PTC India Limited, a power trading company, on Thursday signed Memorandums of Agreement (MoAs) with discoms of six states for the sale of 1,000 megawatt wind power under the Ministry of New and Renewable Energys (MNRE) first wind auction scheme.
The agreements with discoms of Uttar Pradesh, Bihar, Jharkhand, Delhi, Odisha and Assam were signed during a two-day conference of ministers
Battery major Exide Industries on Thursday reported close to 6 per cent year-on-year (y-o-y) fall in its net profit to Rs 164.78 crore for the quarter ended March 31, from Rs 175.21 crore for the corresponding period a year ago.
During the quarter under review, its gross sales, however, increased over 11 per cent y-o-y at Rs 2,213.32 crore, as compared to Rs 1,991.67 crore, the compan
By Neha Dasgupta and Sudarshan Varadhan
NEW DELHI - Coal India Ltd, the world's largest coal miner, is considering a listing on the LSE and has had early discussions with the LSE, three sources with direct knowledge of the matter said on Thursday.
A listing by the state-controlled miner would be a boost for the LSE as it looks to attract companies