ArcelorMittal`s focus on other assets may hit $1 billion Indian JV

By Neha Dasgupta

NEW DELHI  - ArcelorMittal's interest in buying debt-ridden Indian steel companies could derail its planned $1 billion joint venture with Steel Authority of India Ltd (SAIL), a steel ministry report showed.

State-owned SAIL said any such buyout by the world's top steelmaker, controlled by billionaire Lakshmi Mittal, could violat

Reliance Power to look at growth opportunities in commercial coal mining

Reliance Power on Tuesday said it will look at growth opportunities in the commercial coal mining segment.

"The company will also look at the opportunities in the commercial coal mining," Reliance Power's Chairman Anil D. Ambani said while addressing the company's shareholders at the 23rd annual general meeting (AGM).

According to Ambani, the sector "i

Reliance Jio foots chunk of bill for cut-price phone, bets on data

By Sankalp Phartiyal

MUMBAI - Reliance Industries' telecom upstart Jio is footing at least 40 percent of the cost of its basic 4G phone, two sources familiar with the matter said, as it bets on recovering the investment by luring in millions of new customers.

The JioPhone, rolling out this week for a refundable deposit of 1,500 rupees ($23.05), will cost

Dabur India launches 30 products on Amazon's global platform

In a bid to reach out to customers globally, fast moving consumer goods (FMCG) major Dabur India on Tuesday said it has tied up with global e-commerce giant Amazon to launch around 30 products on the platform.

The company said under this collaboration, Amazon through its "Global Selling Programme" will help to take around 30 products from the popular range such as Vatika hai

Equities close marginally lower on weak global cues

Extending losses for the sixth consecutive session, key Indian equity indices on Tuesday provisionally closed marginally in the red as weak global cues on the back of rising tensions in the Korean Peninsula dented investors' risk-taking appetite.

According to market observers, the key indices were pulled lower as investors booked profits in telecom, Teck (technology, media and ent

LIC MF Exchange Traded Fund - Nifty 50: change in investment factsheets for August

LIC MF Exchange Traded Fund - Nifty 50 has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 428.18 crores, compared with Rs 434.66 crores in the last month.

The Fund's NAV per unit was Rs 100.61 for Growth, while 52-Week High and Low ranges were Rs 103.46 and Rs 79.82 respectively. T

SBI Small & Midcap Fund: change in investment factsheets for August

SBI Small & Midcap Fund has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 727.34 crores, compared with Rs 729.65 crores in the last month. The Fund's NAV per unit was Rs 48.51 for Growth, while 52-Week High and Low ranges were Rs 50.72 and Rs 34.09 respectively.

The Equity - D

Aditya Birla Sun Life India GenNext Fund: change in investment factsheets for August

Aditya Birla Sun Life India GenNext Fund has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 651.38 crores, compared with Rs 628.27 crores in the last month. The Fund's NAV per unit was Rs 74.51 for Growth, while 52-Week High and Low ranges were Rs 77.47 and Rs 55.95 respectively. The Equity

L&T Business Cycles Fund - Regular Plan: change in investment factsheets for August

L&T Business Cycles Fund - Regular Plan has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 993.27 crores, compared with Rs 992.51 crores in the last month. The Fund's NAV per unit was Rs 15.65 for Growth, while 52-Week High and Low ranges were Rs 16.34 and Rs 11.89 respectively.

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ICICI Prudential Value Fund - Series 2: change in investment factsheets for August

ICICI Prudential Value Fund - Series 2 has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 174.46 crores, compared with Rs 178.83 crores in the last month.The Equity - Diversified fund with Dividend plan was launched on Nov 18, 2013 and managed by Fund Managers Sankaran Naren, Atul Patel. During

Maruti Suzuki`s WagonR clocks 2 mn cumulative sales

Maruti Suzuki India has said that WagonR, India’s popular car from Maruti Suzuki has scaled the unique feat of two - million sales in cumulative wholesales. Launched in 1999, WagonR continues to feature among the top five best selling cars in the country for the last over 10 years.

“WagonR has always attracted discerning customers, who want their car to be unique. Maruti S

Reliance Capital to setup standalone health insurance firm

Reliance Capital said on Tuesday said that it will setup a standalone health insurance company.

According to Reliance Capital's Executive Director Anmol Ambani, the firm has received "round 1 approval from the IRDA".

"We expect to become operational beginning early next year," Ambani said while addressing shareholders during the company's annual g

Sensex extends fall as North Korea tensions rise

By Vishal Sridhar

Sensex fell on Tuesday in line with Asia and were headed for a sixth straight session of declines, as continued tensions on the Korean Peninsula prompted investors to move into safer assets.

North Korea's foreign minister said on Monday that the United States had declared war on the country and Pyongyang reserved the right to take countermeasures.

PNB Housing Finance to raise Rs 710 cr via bonds

PNB Housing Finance is looking at raising Rs 710 crore by issuing debt securities on private placement basis, reported PTI. The subsidiary of the country's second largest bank state -owned PNB said it will issue secured, taxable, rated and listed redeemable non-convertible debentures in a private placement mode today, September 26.

The issue will close on the same day. The bonds w

G E Shipping takes delivery of Gas Carrier `Jag Vijaya`

The Great Eastern Shipping Company Limited (G E Shipping) has said that it has taken delivery of a secondhand medium gas carrier “Jag Vijaya” (1997 Built) of about 35 , 420 cbm . “The company had contracted to buy the vessel in September 2017.

The Company’s current fleet stands at 47 vessels, comprising 31 tankers ( 12 crude carriers, 1 6 product tankers, 3 LPG

Vivimed Labs signs definitive agreement with OrbiMed Asia

Vivimed Labs Limited, a Pharmaceuticals and Specialty Chemicals company, has said that it has signed definitive agreements to facilitate an investment of USD 42.5mn by OrbiMed Asia into the Company's subsidiary, Vivimed Labs Mascarene Ltd, the holding entity of the company's Apt business, UQUlFA.

The proceeds of this fund raise will be utilised by the Company primarily for, De

Infosys unveils private cloud solution with Micro Focus SUSE

Infosys, a global leader in consulting, technology and next-generation services has said that it has launched a private cloud solution in collaboration with Micro Focus SUSE, a pioneer in open source software, providing software-defined data center infrastructure and application delivery solutions.

“This solution will help businesses significantly accelerate their digital transf

SBI reduces penalty for non-maintenance of minimum balance

The State Bank of India (SBI) on Monday lowered the penalty on savings accounts for non-maintenance of minimum balance while exempting the accounts of minors and pensioners.

The largest public sector bank had levied penalty for not maintaining minimum balance in its savings accounts starting April 1.

The Jan Dhan and Basic Savings Bank Deposit Accounts were already exempt fr

HPCL makes its first U.S. oil purchase: chairman

NEW DELHI - Indian state refiner Hindustan Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crude Mars in a tender, company chairman M. K. Surana said on Monday.

Earlier Indian Oil Corp and Bharat Petroleum Corp, both state refiners, had purchased the U.S. oil through tenders.

HPCL has bought 1 million barrels of Mars oil from trad

Maruti Suzuki commences booking for new S-Cross

Automobile major Maruti Suzuki on Monday commenced bookings for the new variant of its "all-new" premium crossover S-Cross which is expected to be launched during the festive season.

According to the company, the premium crossover boasts of a DDiS 200 with "Smart Hybrid" technology engine. 

Launched in August 2015, the S-Cross has sold over

Normalcy in pharma sector expected by 2021: Lupin CFO

The Indian pharmaceutical sector, which has witnessed tepid growth on the domestic and international fronts, is likely to see return of normalcy only by 2021, pharma major Lupin's Executive Director and CFO Ramesh Swaminathan said on Monday.

"We have lined up quite a few products for launch. Year 2018-19 could be better than 2017-18. And the year 2021 should be pretty go

SBI introduces AI-based chat assistant

 The State Bank of India (SBI) on Monday announced SBI Intelligent Assistant (SIA) -- a chat assistant aimed to address customer enquiries like a "bank representative" does.

Developed by Payjo, an artificial intelligence (AI) banking platform, "SIA" is equipped to handle nearly 10,000 enquiries per second or 864 million in a day -- which is nearly 25 per

Lupin bags approval for Clobetasol Propionate Lotion

Pharma major Lupin has said that it has received final approval for its Clobetasol Propionate Lotion, 0.05% from the United States Food and Drug Administration (FDA) to market a generic version of Galderma Laboratories, L.P.’s Clobex® Lotion, 0.05%. Lupin’s Clobetasol Propionate Lotion, 0.05% is the AB rated generic equivalent of Galderma Laboratories, L.P.’s Clobex® L

Aditya Birla Sun Life Global Commodities Fund: change in investment factsheets for August

Aditya Birla Sun Life Global Commodities Fund has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 2.58 crores, compared with Rs 2.55 crores in the last month.

The Fund's NAV per unit was Rs 12.29 for Growth, while 52-Week High and Low ranges were Rs 12.93 and Rs 11.10 respectively.

Sensex, Nifty end lower; ITC, HDFC Bank down

 Indian shares ended lower on Monday, tracking weakness in Asian peers, with index heavyweights ITC Ltd and HDFC Bank Ltd dragging down the indexes.

The Sensex fell 0.93 percent to 31,626.63, while the Nifty ended 0.92 percent lower at 9,872.60.

Both the indexes dropped more than a percent during the session and are down for the fifth straight day.

(Reporting