Edelweiss Financial Services allots 8,31,375 equity shares

Edelweiss Financial Services said that it has allotted 8,31,375 Equity Shares under Edelweiss Employee Stock Option Scheme(s) of the Company.

“The Share Allotment Committee has today allotted 8,31,375 Equity Shares of the face value of Re. 1/- each under Edelweiss Employee Stock Option Scheme(s) of the Company,” the company said in a filing to the Bombay Stock Exchange.

Capital First raises Rs 80 cr on private placement basis

Capital First said that it has raised Rs 80 crore by issue of Non-Convertible Debentures (NCDs) on private placement basis. “The Debenture Committee constituted by the board of directors of the company through Resolution passed by Circulation on September 18, 2017, has approved the allotment of Rated, Listed, Unsecured, Redeemable, Non-Convertible Perpetual securities in the nature of Deb

HPCL prepares Rs 7110 cr biz growth investment plans in FY18

HPCL has drawn up investment plans of Rs 7110 crore for business growth in the current fiscal, reported PTI. The company, which is being merged with exploration giant ONGC, has also planned capex of Rs 61,000 crore for capacity expansion over the next five years. While the capex stood at Rs 5860 crore in the last fiscal, it is expected to be Rs 7110 crore this financial year.

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Solar Industries` arm raises stake in stepdown subsidiary

Solar Industries said that its arm Solar Overseas Netherlands B.V. has increased stake in stepdown arm Solar Patlayici Maddeler Sanayi Ve Ticaret Anonim Sirkei. Solar Overseas Netherlands B.V. has raised its stake from 74.5 per cent to 100 per cent in the company which is also a step down overseas subsidiary of the company, the company said in a filing to the Bombay Stock Exchange.

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USFDA issues two 483 observations for Alkem`s Baddi facility

Pharma major, Alkem Laboratories said that it has received inspection report from USFDA, which contains two 483 observations for Alkem’s Baddi facility. USFDA had conducted an inspection at the company's manufacturing facility located at Baddi, India from September 11-15, 2017, the company said in a filing to the Bombay Stock Exchange.

The company shall put together a detail

Google launches digital payments service in India

By Mohi Narayan

NEW DELHI  - Alphabet Inc's Google on Monday launched a localised payments app for India as it tries to gain a foothold in the country's rapidly-growing digital payments space.

India's crowded digital payments market, expected to grow ten-fold to $500 billion by 2020, received a shot in the arm after Prime Minister Narendra M

Ford, Mahindra alliance reflects pressures on automakers

By Swati Bhat and Joseph White

MUMBAI/DETROIT - Ford Motor Co  and Indian vehicle maker Mahindra and Mahindra Ltd  said on Monday they will launch a strategic alliance to counter challenges posed by fast-changing technology and global competition.

The agreement, which builds on a former alliance that was unwound in 2005, is another sign that Ford&#

Reliance`s Unlimit, IBM collaborate to power IoT innovation in India

Reliance Group's Unlimit -- an Internet of Things (IoT) venture for enterprises -- and tech giant IBM on Monday announced a collaboration to co-create IoT solutions for industry verticals, including automotive, insurance, utilities and industrial automation.

The two companies are developing IoT solutions for implementation across Reliance Group companies, addressing key segments s

AI plans cost management blitz, aims to save around Rs 500 cr

National passenger carrier Air India plans to "re-negotiate" its agreements with vendors and suppliers to save operational costs of up to Rs 500 crore ($780 million) within the shortest possible time period.

The ambitious short-term target to be achieved in 12-weeks time has been set by the company's new Chairman and Managing Director, Rajiv Bansal.

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China`s Fosun Pharma to buy smaller stake in Gland Pharma for $1.1 billion

By Dominique Patton and Zeba Siddiqui

BEIJING/MUMBAI - Shanghai Fosun Pharmaceutical Group is trimming the size of the stake it will buy in India's Gland Pharma to 74 percent for $1.1 billion, in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India.

Fosun Pharma had struck a deal in July last year to buy an 86 perce

Equities surge on positive global cues, Nifty50 at record high

Positive global cues, along with healthy buying in automobile, capital goods and banking stocks, lifted the Indian equity markets, with the NSE Nifty50 touching record high levels during the mid-afternoon trade session on Monday.

According to market observers, the rally was aided by persistent pumping in of funds by domestic investors.

At 12.30 p.m., the wider 51-scrip Nifty

SBI reviewing minimum balance charges for savings accounts

State Bank of India (SBI) said it is reviewing charges for certain categories of accounts for non- maintenance of monthly average balance (MAB) after receiving feedback from customers, reported PTI. In April this year, the country's largest lender reintroduced charges on non-maintenance of monthly average balance (MAB) after a gap of five years. "We have received feedback from our cust

Cadila`s arm bags approval for Oseltamivir Powder

Zydus Cadila has said that its arm Nesher Pharmaceuticals has received final approval from the USFDA to market Oseltamivir Powder for Oral Suspension, 6 mg/ml which is used in the treatment and prevention of influenza. “It will be produced at the Nesher Pharmaceuticals’ manufacturing facility located at St. Louis, MO, USA. The sales of Oseltamivir Powder for Oral Suspension are esti

TCS recognized as Leader for DCO & IUS in North America

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has said that it has been recognized as a Leader in the 2017 Gartner Magic Quadrant1 for Data Center Outsourcing (DCO) and Infrastructure Utility Services (IUS) in North America.

“Our leadership ranking in this report for the second consecutive year is due to the differ

Penalty from accounts to partly fund Aadhaar linkage costs: SBI

State Bank of India (SBI) expects to collect Rs 2,000 crore as penalty on savings bank accounts which have failed to maintain a minimum balance, a sum which may be used to partly cover the costs incurred on the linking of accounts with Aadhaar.

The recent directive of the government to link all savings bank accounts with Aadhaar by December 31 was a "very costly affair" as l

Airtel Payments Bank launches UPI enabled digital payments

Airtel Payments Bank on Sunday said it has become the first payments bank in India to integrate the Unified Payments Interface (UPI) on its digital platform.

This will add to customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India, a company statement said here.

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Geo-political developments, US Fed meet to guide equities

The Indian equity markets are expected to take cues from geo-political developments in the Korean peninsula, as well as the policy meet of the US Federal Reserve, during the upcoming week starting September 18, according to market analysts.

In addition to global cues, experts maintain that the direction of foreign fund flows will have a major bearing on the stock markets.

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New Metro Rail Policy released

Union Urban Development Minister Hardeep Singh Puri on Saturday released the new Metro Rail Policy that focuses on minimising the use of personal motorised transport and provides "useful guidance on making viable metro rail proposals".

The policy was approved by the Union Cabinet last month.

Expressing concern over poor public transport infrastructure in cities, Pu

Zydus` Nesher gets USFDA nod to market influenza drug

Pharmaceuticals major Zydus Cadila on Saturday said that Nesher Pharmaceuticals, a subsidiary of its US arm, has received final approval from the US health regulator to market an oral suspension of Oseltamivir powder, used for treatment and prevention of influenza.

"Zydus' Nesher Pharmaceuticals, a subsidiary of Zydus Pharmaceuticals USA has received final approval from the U

Bankers bet on IBC, NCLT process to solve bad loans problem

Bankers on Saturday said they are betting on the Insolvency and Bankruptcy Code and the process of National Company Law Tribunal for getting quick resolutions in order to solve the problems of bad loans.

"The Insolvency and Bankruptcy Code, 2016 is a game-changer," State Bank of India's Managing Director (National Banking Group),Rajnish Kumar said, adding that it will gr

Armed forces to 'fight out war' against debris: Nirmala Sitharaman

Indian armed forces would carry out an exercise on high-altitude mountains to "fight out a war" against the junk and debris and this would continue till October 2, Defence Minister Nirmala Sitharaman said here on Saturday.

She said the Defence Ministry has been assigned the task of cleaning all the debris and the tourists' wastes that were left at the high-altitude posit

Slippages to be 'under control' in coming quarters: SBI

The State Bank of India (SBI) is expecting that slippages will be "under control" in the coming quarters, an official said here on Saturday.

"The fresh slippages have started tapering off and going forward the slippages would be under control," SBI Managing Director (National Banking Group) Rajnish Kumar said on the sidelines of "Banking Colloquium" organ

Equities ride bulls on easing geo-political risks, industry data

Boosted by positive global cues on the back of easing geo-political concerns, healthy domestic industrial production data and persistent pumping in of funds by domestic investors, Indian equity markets rode the bulls during the week ended Friday.

The two key Indian equity indices -- the BSE Sensex and the NSE Nifty -- reclaimed their psychologically important 32,000 and 10,000 levels.

Air India flies non-stop from Delhi to Copenhagen

National passenger carrier Air India on Saturday launched its non-stop flight service from New Delhi to Copenhagen.

The new service is Air India's third non-stop flight launched this year.

Earlier, the airline had launched its services from New Delhi to Washington and New Delhi to Stockholm.

Commenting on the launch of the new services, Air India's Chairman

JSW Steel aims to increase own iron ore production

By Promit Mukherjee

MUMBAI - JSW Steel Ltd, India's biggest local steelmaker, aims to be producing 80 percent of the iron ore needed for its flagship plant in south India in three years time as it seeks to cut costs, a senior executive said.

The company expects to begin producing ore from mines it won in a recent auction in the southern state of Karnatak