JSPL commissions Odisha`s largest integrated steel plant

 Jindal Steel and Power Ltd (JSPL) on Saturday made operational the largest integrated steel plant of Odisha with the commissioning of the country's largest blast furnace at Angul.

The Angul steel plant has been expanded from two million tonne per annum (MTPA) to six MTPA. With the commissioning of the blast furnace, JSPL became India's fourth largest steelmaker afte

Sensex, Nifty mount new peaks, investors bullish on robust earnings

Amidst cross-border tensions with Pakistan and geo-political worries, the Indian equity markets closed the week's trade in a celebratory mood, with the benchmark BSE Sensex and NSE Nifty touching fresh record highs of 31,000 and 9,600 points respectively.

Markets observers opined that robust corporate results, rupee appreciation and expectations of further economic reforms from th

DLF's Q4 consolidated net profit at Rs 136 cr

Real estate major DLF on Friday reported a consolidated net profit of Rs 136 crore for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net profit during the quarter under review stood at Rs 136 crore from a loss of Rs 181 crore in the corresponding period of 2015-16.

However, the real estate major's consolidated revenue for the fourth quart

Telcos need to rejig their costing, prices under GST: Government

After the Goods and Services Tax (GST) regime comes into effect, the telecom companies will need to re-work their costing and prices, the Finance Ministry said on Friday.

"After GST regime, telecom companies would be required to re-work their costing and credits' availability and rejig their prices and ensure that the increased availability of credit is passed on to the custo

Amul to start operations in Bihar, Assam

The Kaira District Co-operative Milk Producers' Union -- the makers of Amul -- is setting up a Rs 250-crore processing plant in West Bengal, and is expanding operations in the state's districts and also foraying into Bihar and Assam, officials said here on Friday.

"We are expanding milk procurement operations in districts like Malda, Darjeeling, Howrah and East Midnapore

Tata Chemicals posts 32% rise in Q4 net profit

Tata Chemicals on Friday reported close to 32 per cent rise in its consolidated net profit to Rs 343.02 crore in the fourth quarter ended March 31, 2017, from Rs 260.21 crore in the corresponding period a year ago.

The company's revenue from operations, however, saw a 15.8 per cent fall to Rs 3,002.33 crore during the quarter from Rs 3,565.20 crore in same period in the previous f

ITC net profit up 12.1 per cent in Q4

Cigarette-to-hotel-to-FMCG major ITC Ltd on Friday posted a 12.13 per cent rise in its standalone net profit to Rs 2,669.47 crore for the quarter ended March 31, 2017, from Rs.2,380.68 crore in the year ago period.

The diversified company's revenue from operation during the quarter increased to Rs 15,008.82 crore from Rs 14,138.78 crore in the corresponding period of the previous

New Sustainability Index from S&P BSE expected in 2017-18

Asia Index Pvt Ltd, a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, is planning to introduce a new Sustainability Index in India aiming to capture holistic sustainability parameters, a top company official said here on Friday.

According to the official, the new index is expected in the current fiscal. S&P BSE Indices have two sustainability indices -- S&P BS

Sun Pharma says 2018 sales may fall as U.S. market gets tougher

By Zeba Siddiqui

MUMBAI - India's largest drug group Sun Pharmaceutical Industries Ltd said on Friday its U.S. sales might fall this year because of pressure on drug prices, signalling tough market conditions in the United States for generic drugmakers.

"The U.S. generics industry is facing rapidly changing market dynamics, (and) increased competiti

Indian Hotels' MD and CEO Sarna resigns

Mumbai,  Tata Group promoted Indian Hotels Company on Friday said that its Managing Director and Chief Executive Officer Rakesh Sarna has resigned for personal reasons.

According to the company, the Board of Directors of Indian Hotels Company (IHCL) has accepted the resignation of Sarna, who will continue in his current position till September 30, 2017.

ONGC reports 6 percent fall in fourth-quarter net profit

MUMBAI - Oil and Natural Gas Corporation Ltd  India's biggest hydrocarbon explorer, reported a 6 percent fall in fourth-quarter net profit to 43.40 billion rupees ($673 million) hurt by a one-time provision.

Analysts on average had expected a profit of 49.91 billion rupees.

Total income of 262.34 billion rupees was up almost 30 percent on highe

Government to hire five banks for up to $993 million IOC share sale

MUMBAI- The government is set to hire Citigroup, Deutsche Bank, Goldman Sachs, ICICI Securities and SBI Capital for a 3 percent stake sale in Indian Oil Corp  that could raise as much as 64 billion rupees ($993 million), IFR, a Thomson Reuters publication, reported on Friday.

The government owns 58.3 percent of IOC, the country's biggest state-owned oil refin

Tech Mahindra net down 33% in Q4

Software major Tech Mahindra on Friday reported Rs 590 crore consolidated net profit for the fourth quarter of 2016-17, registering 33 per cent decline from Rs 876 crore in the same period last year.

In a regulatory filing on the BSE, the city-based IT firm said consolidated revenue for the quarter under review grew 9.9 per cent to Rs 7,733 crore from Rs 7,039 crore in the same period

India`s BSE index ends above 31,000, sets record

REUTERS - The benchmark BSE Sensex rallied on Friday to end above 31,000 for the first time, as higher derivatives rollover led to strong follow-up buying in index heavyweights such as Reliance Industries and ITC Ltd .

The Sensex closed up 0.9 percent at 31,028.21, after hitting a high of 31,074.07.


ITC fourth-quarter profit up marginally, misses estimates

Diversified consumer company ITC Ltd posted a 12 percent growth in March-quarter profit as its biggest segment, cigarettes, witnessed growth in sales.

Profit rose to 26.69 billion rupees ($413.93 million) in the fourth quarter ended March 31, from 23.81 billion rupees a year earlier, the conglomerate said on Friday. http://bit.ly/2rnMf4i

Analysts on average expected the comp

Hindustan Petroleum March-quarter profit beats estimate

 State-run oil marketing company Hindustan Petroleum Corp Ltd  reported a 31 percent jump in March-quarter net profit on Friday, beating street estimates, as income from operations grew.

Net profit rose to 18.19 billion rupees ($282.12 million) in the fourth quarter ended March, from 13.88 billion rupees a year earlier, the company said in a statement. 


Adani coal royalties back on Australia state cabinet agenda

SYDNEY  - A final investment decision by India's Adani Enterprises to develop its Carmichael coal mine project in Australia could be back on track as early as next week, pending sign-off of a government royalty arrangement.

Queensland state Premier Annastacia Palaszczuk, a proponent of the project, said on Friday that how much Adani will pay in royalties will

Sensex crosses 31,000-mark, Nifty nears 9,600 level

 Healthy buying in metal and automobile stocks, and a strong rupee took the Indian equity markets to a record high during the mid-afternoon trade session on Friday.

The 30-scrip Sensitive Index (Sensex) of the BSE crossed the 31,000 mark for the first time to touch a new high of 31,034.30 points intra-day. 

At 1.45 p.m., the Sensex traded at 31,008.24 points -- up

Glenmark Pharma up nearly 3% on US FDA nod for generic drug

Shares of Glenmark Pharmaceuticals rose nearly 3 per cent on the Bombay stock Exchange after the drug maker said that it has received final approval from US FDA for its generic version Olmesartan Medoxomil Tablets, used in treatment of high blood pressure.

Following the announcement, shares of the company gained as much as 2.73 per cent to hit intra-day high of Rs 628.70 apiece on the

Dion Global zooms over 17% on robust Q4

Shares of Dion Global Solutions rallied over 17 per cent on the Bombay stock Exchange after the financial technology company reported a consolidated net profit after minority interest of Rs 13.30 crore for the fourth quarter ended March 31, 2017, helped by decline in operating expenses.

The consolidated total income of the company rose by 31.86 per cent to Rs 80.04 crore in Q4 FY17 co

Idea says it is now a pan-India mobile broadband provider

Idea Cellular said that with the latest launch of 4G service in Mumbai, it has become pan-India provider of broadband services on mobile phones, reported PTI. "With the launch of 4G LTE services in Mumbai, Idea declares pan-India mobile broadband operations in shortest possible time," Idea said in a statement.

Idea has 4G spectrum in 20 circles except Kolkata and Delhi where

SBI set to hire six banks for up to $2.3 billion share sale - IFR

MUMBAI  - State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to manage a share sale of up to 150 billion rupees ($2.3 billion), IFR reported on Friday, citing two sources with knowledge of the plan.

A total 17 banks had bid to underwrite the so-called qualified institutional placement, for wh

Bosch quarter net profit dips 10% in Q4

 Automotive components maker Bosch Ltd. on Thursday reported a 10 per cent year-on-year (YoY) decline in net profit to Rs 441 crore for the fourth quarter (Q4) of fiscal 2016-17 from Rs 491 crore in same period year ago.

Sequentially, however, net profit in Q4 zoomed a whopping 102 per cent quarter on quarter (QoQ) from Rs.218 crore in the third quarter (Q3) of FY 2017.

No discriminatory tariffs among same subscriber category: TRAI

Telecom service providers should not give any discriminatory tariff to the same category of subscribers and all plans should be reported to the regulator within seven days of its launch, the Indian telecom regulator said on Thursday.

The Telecom Regulatory Authority of India (TRAI) directed "to ensure that all the tariffs offered to the consumers shall be in accordance with