Sensex flat as valuation worries hit sentiment; banks fall

By Jessica Kuruthukulangara

The NSE Nifty traded flat on Wednesday as weakness in lenders on worries about provisioning for defaulted loans continued, while concerns of bloated valuations following a record-setting rally dampened risk appetite.

The Nifty PSU Bank index slid as much as 1.7 percent to its lowest in three months, a day after a news report said the central bank

Boeing 737 MAX aircraft to join fleet by 2018: SpiceJet

Budget passenger carrier SpiceJet on Tuesday said that new aircraft under "a large order" placed with Boeing will start to join its fleet by mid-2018.

"We have placed a large order for the Boeing 737 MAX, in fact, the biggest ever placed by an Indian airline with Boeing. The new planes start to join the fleet in the middle of 2018 and with that our operating cost will f

L&T`s construction arm bags orders worth Rs 2,552 cr

India-based multinational L&T on Tuesday said its construction arm has bagged orders worth Rs 2,552 crore across various business segments.

According to the company, its transportation infrastructure and water effluent treatment businesses have jointly bagged an EPC (engineering, procurement and construction) order worth Rs 1,223 crore from Aurangabad Industrial Township Ltd

Nifty ends at one-month low; banks weigh

The NSE Nifty fell for a fifth straight session and ended at its lowest in a month, as lenders retreated on a media report the Reserve Bank of India was demanding higher provisioning for loans submitted under the insolvency process.

The index closed down 0.66 percent at 9,511.40, its lowest close since May 25.

The benchmark BSE Sensex ended 0.58 percent lower at 30,958.25, c

BHEL bags EPC order for 15 MW solar photovoltaic power plant

Bharat Heavy Electricals Limited (BHEL) said that it has secured an order for setting up a 15 MW Solar Photovoltaic (SPV) Power Plant on Engineering, Procurement and Construction (EPC) basis, in Gujarat. The order has been placed on BHEL by Gujarat Alkalies and Chemical Limited (GACL) for setting up the SPV Power Plant at Gujarat Solar Park at Charanka in Gujarat, the company said in a filing t

Piramal Enterprises raises Rs 500 cr via NCDs

Piramal Enterprises today said that it has raised Rs 500 crore via issue of secured non convertible debentures (NCDs) on private placement basis. An administrative committee of the company's board today approved the issue of secured non convertible debentures (NCDs) aggregating to Rs 500 crore on private placement basis, Piramal Enterprises said in a filing to the Bombay Stock Exchange.

Sun Pharma signs agreement with NIV to fight deadly virus

Leading pharma major, Sun Pharmaceutical Industries Ltd has said that it has signed an agreement with The National Institute of Virology (NIV), Pune, an institution of the Indian Council of Medical Research, Department of Health Research, Ministry of Health and Family Welfare for testing phytopharmaceutical, biologic and chemical entities developed by Sun Pharma against Zika, Chikungunya and De

Nifty hits one-month low; banking stocks drag

By Jessica Kuruthukulangara

The NSE Nifty fell for a fifth straight session and touched a one-month low on Tuesday as lenders took a hit following a report that the country's central bank has demanded higher provisioning for loans submitted under the insolvency process.

The Reserve Bank of India has asked banks to set aside at least 50 percent of the loan amount for acco

Trump urges Modi to fix deficit, but stresses strong ties

By Steve Holland and David Brunnstrom

WASHINGTON- U.S. President Donald Trump urged Indian Prime Minister Narendra Modi to do more to relax Indian trade barriers on Monday during talks in which both leaders took great pains to stress the importance of a strong U.S.-Indian relationship.

At a closely watched first meeting between the two, Trump and Modi appear

Reliance Industries Ltd to seek shareholders' approval to raise Rs 25,000 crore

Reliance Industries on Monday said that it will seek shareholder's approval to issue redeemable non-convertible debentures on private placement basis to raise Rs 25,000 crore.

The company told the BSE that it will hold its fortieth annual general meeting (AGM) on Friday, July 21, 2017 in Mumbai.

According to the agenda of the AGM, the company seeks shareholders approval

GM India commences shipment of sedan version of Beat

 Automobile manufacturer General Motors India on Monday said that it has begun regular shipment of the sedan version of Chevrolet Beat from its Talegaon export hub to the Latin America markets.

According to the company, a consignment of 1,200 Chevrolet Beat sedans was on Monday loaded for shipment to Latin America, following the start of production on June 5, 2017.


Bank credit rose to Rs 69 lakh crore by 2014-15

 Bank credit in India has grown exponentially in the past 25 years with total outstanding credit rising to Rs 68,78,500 crore from Rs 1,04,300 crore between 1990 and 2015, according to the Reserve Bank of India's (RBI) latest state-wise credit data.

The country's western and southern regions accounted for 60.6 per cent -- that is Rs 41,70,600 crore -- of the total credit

IDFC names Sunil Kakar as MD and CEO for 3 years

 Private sector financial services firm IDFC on Sunday announced the appointment of Sunil Kakar as Managing Director and Chief Executive Officer of the company with effect from July 16 for three years.

"The Board of Directors of the Company at its meeting held on 24.06.2017 has approved the appointment of Sunil Kakar as Managing Director and CEO of the company for a period o

Indian markets closed on Monday for public holiday

MUMBAI - India's stocks, bonds and currency markets will be closed on Monday for a public holiday. Trading will resume on Tuesday.

The broader NSE index fell 0.57 percent on Friday, closing at its lowest since May 25. The benchmark BSE index fell 0.49 percent.

The new 10-year bond yield rose 1 basis point to 6.46 percent, while the rupee strengthened to

Snapdeal files police case against former heads of local logistics firm

 Indian online retailer Snapdeal has filed a police complaint against some former directors and former management of a local logistics company, in which it owns a stake, accusing them of defrauding the company of 3.57 billion rupees ($55.37 million), a police report showed.

The company, which is backed by Japan's Softbank, accused some former directors and former management o

Infosys says reassessing long-term goals due to tougher market

Infosys Ltd, India's second-biggest software services exporter, is re-evaluating its long-term targets because tougher market conditions have made them appear "daunting", the company's chairman said on Saturday.

Infosys Chief Executive Officer Vishal Sikka had said earlier that the IT services company was likely to struggle to reach its ambitious $20 billion revenue

India clears plan for $3.10 billion second airport for Delhi

India will build a second international airport near its capital city in the next four to five years, costing an estimated 200 billion rupees ($3.10 billion), the government announced on Saturday, to meet explosive growth in passenger traffic.

    The Noida International Airport near New Delhi will be built from scratch in phases and is expected to cater to 30-50 million pas

Caution over GST, derivatives expiry to affect equities

Derivatives expiry coupled with crude oil prices and direction of foreign funds' movement are expected to affect the equity charts during the upcoming week.

Market observers have opined that key equity indices might remain range-bound ahead of the Goods and Services Tax (GST) implementation slated from July 1.

"The markets next week are expected to remain range boun

Infosys investors blast board over infighting with founders

Infosys' boardroom battles and the "open war" played out in the media between the board members and its founders since February came to the fore at the firm's 36th Annual General Meeting (AGM) on Saturday.

Several retail investors blasted the board for the "infighting" that damaged the company's reputation and its brand equity the world over, especially

Infosys Board has no rift with founders, says Chairman

Terming media reports on a "rift" between the Infosys Board and its Founders on governance and compensation to executives inaccurate, software major's Executive Chairman R. Seshasayee on Saturday claimed that the relationship between the two was cordial, direct and respectful.

"I should note that the Board's relationship with the Founders is often the subject of

Infosys embarks on transformation journey to secure future: Seshasayee

Global software major Infosys Ltd has embarked on a three-pronged transformation journey for a sustainable and secure future, said its Board Chairman R. Seshasayee on Saturday at the company's 36th Annual General Meeting (AGM) here.

"We are undertaking three transformations simultaneously for a sustainable and secure future for your company. The first is business transformati

Infosys co-founders keep away from stormy AGM

For the first time in many years, Infosys' co-founders, including N.R. Narayana Murthy kept away from its Annual General Meeting as the 36th AGM for 2016-17 was held here on Saturday.

"None of the founders or promoters was seen at the AGM, even a hour after it began at 3 p.m. We have no idea why they did not turn up," a company spokesman told IANS.

About 1,000

Bajaj Hindusthan Sugar`s loans to be considered under S4A scheme

 Bajaj Hindusthan Sugar on Friday said the Joint Lenders' Forum (JLF) has decided to consider its loan account under the 'Scheme for Sustainable Structuring of Stressed Assets' (S4A Scheme).

According to Bajaj Hindusthan Sugar, the JLF of the company took the decision in this regard at its meeting held here on Friday.

"The JLF at its meeting held today

GoAir to shift to new passenger service system

Budget passenger carrier GoAir on Friday said it will be migrating to a new passenger service system from June 25.

According to the airline, the migration process will begin from 6.00 p.m. on June 24 to 6.00 a.m. on June 25.

"Passengers will not be able to make any new bookings, amendments, cancellations during this migration period. Mobile and online check-in will also

Ford India recalls 39,000 units of Fiesta, Figo models

 Automobile manufacturer Ford India on Friday said it has decided to recall 39,315 units of Ford Fiesta Classic and previous-generation Ford Figo vehicles because of a potential technical concern.

"Ford India is voluntarily inspecting 39,315 Ford Fiesta Classic and Ford Figo vehicles, made at the company's Chennai plant between 2004 and 2012, for a potential concern rela