Kudankulam n-plant I shut down for refuelling

The first 1,000 MW unit in Kudankulam Nuclear Power Project (KNPP) belonging to Nuclear Power Corporation of India Ltd (NPCIL) was shut down for around two months for refuelling purposes on Thursday, said a senior official.

Kudankulam is in Tirunelveli district around 650 km from here and NPCIL has two 1,000 MW nuclear power plants there built with Russian equipments.

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37,915 techies exit Infosys; hiring dips 65 per cent

A whopping 37,915 engineers left software major Infosys while its hiring plunged 65 per cent in fiscal 2016-17 thanks to increasing automation and thrust on artificial intelligence in its operations and projects.

According to the employee metrics the outsourcing firm disclosed on Thursday, 37,915 left the company and its subsidiaries worldwide during the fiscal under review (FY 2017)

Reliance Power March quarter profit jumps on lower tax expense

Reliance Power Ltd posted more than a three-fold increase in March quarter consolidated profit, helped by a 40 percent fall in tax expenses during the period.

The company, which is part of billionaire Anil Ambani's Reliance Group, reported a consolidated profit of 2.16 billion rupees ($33.53 million) for the quarter ended March 31, 2017, the company said. (http://bit.ly/2oa1Heq)

Global cues, disappointing Q4 results drag equities lower

Rising geopolitical tensions coupled with disappointing fourth quarter results of an IT major dragged the Indian equity markets lower on Thursday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) dipped by 52.65 points or 0.57 per cent to provisionally close at 9,150.80 points.

The 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed lower

Capital First to issue NCDs worth Rs 150 crore

Financial services provider Capital First Ltd on Thursday said that its Debenture Committee has approved to issue non-convertible debentures worth Rs 150 crore plus green shoe option of Rs 350 crore. In a filing to the Bombay Stock Exchange, the company said, “The Debenture Committee constituted by the Board of Directors of the company at its meeting held on April 13, 2017, has inter &nda

Rama Steel Tubes bags order worth 30 cr for ERW pipes

Rama Steel Tubes Limited, a leading player in the manufacturing of ERW pipes, has said that it has bagged prestigious export orders worth Rs.30 Crores for ERW pipes. The company will be executing the order from its Delhi facility. This facility has an overall manufacturing capacity of 60,000 MT per annum. These orders are going to boost the performance of the company. In line with its vision of

State Bank of India sees profit boost in three years after bank units merged

MUMBAI - The head of State Bank of India , the country's largest lender, said she expects a boost to annual profit of as much as 30 billion rupees ($465 million) in three years on cost and efficiency gains from the absorption of associate banks.

Chair Arundhati Bhattacharya also said in an interview that signs of more factory activity pointed to a turnaround in In

Infosys elevates director Ravi Venkatesan as Board Co-Chair

Software major Infosys Ltd on Thursday appointed its Independent Director Ravi Venkatesan as Co-Chairman of the Board.

In a regulatory filing to the BSE, the IT firm said Venkatesan had made valuable contribution to the company's development of strategic direction during his tenure since April 2011.

"Ravi will help me enhance the Board engagement in supporting the m

Essar Shipping's cargo handling services surge 22% in 2016-17

Essar Shipping (ESL) on Wednesday reported a strong operational performance in its cargo handling services during 2016-17.

The company's cargo handling services during the period under review grew by 22 per cent and fleet capacity utilisation surged to 94 per cent from 80 per cent reported for 2015-16. 

"Our strategy to have an ideal mix of captive an

Infosys to return up to $2 billion to shareholders; appoints co-chairman

By Sankalp Phartiyal and Arnab Paul

MUMBAI/BENGALURU - Infosys set a $2 billion cash return to shareholders and appointed an independent director as co-chairman, moves that may placate a group of founders and former executives who have criticised India's second-biggest software services exporter.

Some founders and former executives of the Bengaluru-based

India hopes to auction coal blocks for commercial mining by end-December

NEW DELHI - India aims to auction coal blocks for commercial mining by end- December, coal secretary Susheel Kumar told television channel ET NOW on Thursday, a move that would end monopoly of state-run firms in coal mining.

This could help the country to meet its target and produce 1 billion tonnes by 2020.

Coal accounts for about 70 percent of India's

Key Indian equity market indices open flat

Taking a cue from global markets, the key Indian equity market indices on Thursday opened flat.

Ahead of fourth quarter results, the markets took a cautious approach.

The Sensitive Index (Sensex) of the BSE, which had closed at 29,643.48 points on Wednesday, opened lower at 29, 637.12 points. 

Minutes into trading, it was quoting at 29,594.98 po

Higher fuel prices drive up India's inflation to five-month high

NEW DELHI - Higher fuel costs drove up India's headline inflation to its highest level in five months in March, data showed, vindicating a central bank decision last week to keep its policy rate on hold amid concern about price pressures.

Consumer prices rose by an annual 3.81 percent, their fastest pace since October 2016, compared with February's 3.65 percen

GST coming July 1 despite calls for delay, revenue secretary says

NEW DELHI - India will launch the Goods and Services Tax (GST) as planned on July 1 to boost economic growth and state revenues, a finance ministry official said on Wednesday, despite calls from some businesses for a delay.

The central and state governments were ready to roll out the GST, said Revenue Secretary Hasmukh Adhia, adding that firms should not count on

HC sets aside environment nod for Tata's Chandigarh housing project

The Delhi High Court on Wednesday set aside the grant of various environment approvals given to the Tata Camelot Housing project near Sukhna Lake in Chandigarh.

A division bench of Chief Justice G. Rohini and Justice R.S. Endlaw asked the Punjab government to reconsider all the approval granted by various state authorities for the housing project.

The court's order came

Global cues, upcoming macro-data pull equities lower

Negative global cues along with caution over the upcoming macro-economic data and weak rupee depressed the Indian equity markets on Wednesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) dipped by 35.90 points or 0.39 per cent to provisionally close at 9,201.10 points.

The 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed lower by 158.19 poi

SC ruling on tariff is credit-negative for Tata Power: Moody's

Following the Supreme Court's rejecting the Tata Power plea for compensatory tariff, US rating agency Moody's said on Wednesday that though the company's 'Ba3 negative' rating remains unaffected, the court verdict is a credit-negative for the power major.

"The Supreme Court's decision is credit-negative but does not impact Tata Power Company's (TPC) Ba

Shilpa Medicare gets EIR for Raichur facility

Shilpa Medicare said that has received Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API) manufacturing facilities located at Raichur, Karnataka, which was inspected between December 12-16, 2016. The inspection has now been closed by the USFDA, the company said in a filing.

The company had

Steel exports surge 102% in 2016-17, imports fall 36.6%

Overtaking imports, India's steel exports jumped by 102.1 per cent in 2016-17 to 8.24 million tonnes (mt), as compared to 4.07 mt shipped out in the previous financial year (2015-16), according to a Steel Ministry's report.

"Export of total finished steel was up by 102.1 per cent in April-March 2016-17 at 8.24 mt over same period of last year. Export in March 2017 at 1.62

Cisco unveils Cyber Range Lab in India

Cisco India on Wednesday inaugurated its Cyber Range Lab here that aims to train security staff to build the skills necessary to combat new-age threats.

As the demand for cyber security experts grows manifold than any other IT job, cyber security workforce has become a priority for many organisations.

"With the cyber security framework in place now, the need is for acti

Indian state refiners to revise fuel price in five cities daily from May 1, sources say

NEW DELHI  - India's state-owned fuel retailers plan to implement daily revision of fuel price in five cities from May 1 ahead of a nationwide rollout of the scheme, industry sources said.

To begin with, daily revision of fuel prices will be implemented in Puducherry and Vizag in southern India, Udaipur in the West, Jamshedpur in the East and Chandigarh in th

12/04/2017 11:21:23 AM | Posted in Commodity Top News read full news
Mercedes-Benz India's January-March sales up by 1%

Luxury carmaker Mercedes-Benz India on Tuesday said that its January-March 2017 sales grew by one per cent to 3,650 units, supported by strong sales momentum in the SUV segment.

"2017 began with a positive drive and we are confident of bettering our sales performance in the coming months," Mercedes-Benz India Managing Director and Chief Executive Officer Roland Folger, was q

Vedanta-Cairn India merger becomes effective

Natural resources major Vedanta Ltd. said on Tuesday that its merger with subsidiary energy firm Cairn India has become effective.

"Vedanta Limited (Vedanta) and Cairn India Limited (Cairn India) today (Tuesday) announced that the merger of Cairn India with Vedanta pursuant to the Scheme of Arrangement has become effective," said both firms in a joint statement. 

Setback for Tatas, Adanis as SC rules out compensatory tariff

The Supreme Court on Tuesday rejected the plea for compensatory tariff by Tata Power and Adani Power Ltd for the additional costs that they were incurring on raised prices of the coal they were importing from Indonesia for their power plants in Gujarat.

The bench of Justice Pinaki Chandra Ghose and Justice Rohinton Fali Nariman said: "The doctrine of frustration cannot apply to t

Key Indian equity indices trade flat during early session

Key Indian equity market indices opened flat on Wednesday following global cues.

The 30-scrip Sensitive Index (Sensex) was trading 3.51 points or 0.01 per cent lower during the early session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 3.30 points or 0.04 per cent lower at 9,233.70 points.

The BSE Sensex, which open