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

Tata Steel sells stake in Tata Motors to Tata Sons for $586.3 million

  Tata Steel Ltd said on Friday it sold its stake in Tata Motors Ltd to Tata Sons, the holding company of India's salt-to-software Tata conglomerate, for 37.83 billion rupees ($586.3 million).

Tata Steel sold about 83.54 million shares at 452.80 rupees apiece, it said in a stock exchange filing.

As of end-March, the steelmaker owned a 2.9 percent stake or about 83.6

Infosys says internal investigation found no evidence of wrongdoing

By Promit Mukherjee

MUMBAI - An internal investigation by India's Infosys into alleged improprieties related to two acquisitions by the IT services company found no evidence of wrongdoing, it said on Friday.

The findings, released in a statement a day before the company's annual shareholder meeting, may quell some of the investor disquiet that has bu

Selling pressure, caution over GST dent equity markets

The Indian equity markets traded in the red during the mid-afternoon session on Friday as broadly negative global cues, coupled with caution ahead of the Goods and Services Tax (GST) implementation and heavy selling pressure in automobile, capital goods, oil and gas and banking stocks subdued investor sentiments.

At 1.00 p.m., the wider Nifty of the National Stock Exchange (NSE) fell

Can Fin Homes to raise Rs 1000 cr via right issue

Can Fin Homes, a close affiliate of Canara Bank, on Friday said its board has approved proposal to raise Rs 1000 Crore by way of issue of shares on rights basis. “The board of directors of the company at its meeting on June 23, has approved further issue of capital by way of issue of shares on rights basis upto Rs 1000 Crore,” said Can Fin Homes in a filing to the BSE.


Piramal Enterprises gets nod to raise Rs 125 cr

Piramal Enterprises Ltd said that it has received Board nod to raise Rs 125 crore by issuing unsecured, non-convertible debentures on a private placement basis. “At a meeting of Administrative Committee of the Board of Directors held today the Committee approved the issue of unsecured, Non-Convertible Debentures on a private placement basis,” the company said in a filing to the Bomb

Indiabulls Real Estate plans to raise Rs 500 cr through NCDs

Indiabulls Real Estate Ltd said that it is planning to raise Rs 500 crore by issuing secured, redeemable, non-convertible debentures on a private placement basis. “The Company proposes to issue Secured, Redeemable, Non-Convertible Debentures of face value Rs.10 lakh each aggregating Rs. 500 crore, on a private placement basis, pursuant to a special resolution passed by the shareholders of

Deep Industries bags contract from ONGC

Deep Industries has said that it has been awarded a contract from ONGC Ltd. The contract is for securing the services of 30 Tons Workover Rig to be deployed in ONGC CBM Asset, Bokaro. “The tenure of the contract is 1 year and the total estimated value of the said contract is Rs. 3.72 crore,” the company said in a filing to the Bombay Stock Exchange.

continues to participat

Shriram EPC bags multiple orders worth Rs 165 cr

Shriram EPC Limited (SEPC), one of the leading service providers of integrated design, engineering, procurement, services has that it has won multiple orders under its water management business amounting to Rs. 165 crore.

“The first order amounting to Rs. 83.37 crore from City Corporation Davanagere, involves designing, building and improving bulk water supply for 24X7 water sup

Sensex, Nifty end lower; financial stocks weigh

  The NSE Nifty ended lower for a fourth straight session on Friday, its longest losing streak since mid-April, as investors booked profits in financials such as State Bank of India and Kotak Mahindra Bank Ltd.

The index closed down 0.57 percent at 9,574.95, its lowest close since May 25. It fell 0.14 percent for the week.

The benchmark BSE Sensex was 0.49 percent lower

SEBI proposes stricter separation on investment products

MUMBAI  - The Securities and Exchange Board of India (SEBI) on Thursday proposed to more clearly segregate entities advising on investment products from those selling them in an effort to prevent conflicts of interest.

Under current rules, companies are allowed both to advise and sell mutual funds or other investment products only through "separately identif

RBI rejigs oversight panel for bad loan resolution

MUMBAI  - The Reserve Bank of India (RBI) on Thursday reconstituted a panel to oversee restructuring of troubled loans, as it strives to cut more than $150 billion of bad debt banks in Asia's third-largest economy have accumulated over the past years.

Pradeep Kumar, a former vigilance chief, was named chairman of the five-member panel, which has three former

Equity markets close on a flat note

 After two days of corrections, the Indian equity markets closed on a flat note during Thursday's trade session.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,351.53 points, provisionally closed at 31,290.74 points (at 3.30 p.m.) -- up a mere 7.10 points, or 0.02 per cent, from its previous close at 31,283.64 points.

It touched a new high of 3

IBREL IBL Scheme Trust sells 3.3 cr shares of Indiabulls Real Estate

Indiabulls Real Estate Limited said that IBREL IBL Scheme Trust has sold 3.3 crore shares of the Company for Rs 662.83 crore. “IBREL IBL Scheme Trust, of which Indiabulls Real Estate Limited (the Company) is the sole beneficiary, has sold 3.3 Cr shares of the Company, on 22nd June 2017 at the stock exchanges, and has realised approx.

Rs 662.83 Crs at an average price of about Rs

Tata Elxsi to create seamless passenger experience for all AAI airports

A global design and technology services firm, Tata Elxsi said that it has been selected by the Airports Authority of India (AAI) out of a competitive global bid to improve passenger experience for all AAI managed airports

. As a strategic design partner, Tata Elxsi will help AAI to provide a seamless passenger travel experience.

Tata Elxsi will be primarily responsible to se

Nila Infrastructures receives work order from AMC

Leading infra company, Nila Infrastructures Limited has said that it has received a work order from Ahmedabad Municipal Corporation (AMC) for the Integrated Slum In-situ Development for Public Private Partnership (PPP) Project (Package-13) of approximately 360 residential units at Ahmedabad under Urban Development & Urban Housing Department, Government of Gujarat’s Slum Rehabilitation

NHPC signs MoU with Ministry of Power for 2017-18

India's premier hydropower utility and a Mini Ratna Enterprise, NHPC Limited has said that it has signed a Memorandum of Understanding (MoU) with Ministry of Power, Government of India for the year 2017-18.

“The MoU was signed by Pradeep Kumar Pujari, Secretary, Ministry of Power, Government of India and K M Singh, CMD, NHPC in the presence of senior dignitaries from MOP and

Mindtree unveils services for creating proficient IT

Mindtree, a global digital transformation and technology services company, has said that it has introduced Mindtree Integrated Services. The service combines next-practice methods and tools to tightly integrate infrastructure and applications into a unified foundation that provides up to 30% cost savings from traditional operating models.

“Mindtree Integrated Services achieves t

Sacked Infosys immigration head files lawsuit in US

Sacked Immigration Head of Infosys Ltd Erin Green has filed a lawsuit before the US District Court at Texas, alleging discrimination and retaliation by the senior management of the global software major.

The civil suit, filed on June 19 in the Eastern District of Texas (Sherman Division), seeks a trial by jury on the alleged discrimination against non-Asian employees at the company

Sensex ends flat after record high; IT pares gains

  The BSE Sensex ended flat after earlier rising as much as 0.8 percent to a record high as IT firms reversed earlier gains after a lobby group issued a muted revenue guidance for exports, while energy firms fell on sliding oil prices.

The benchmark BSE index closed up 0.02 percent at 31,290.74, after earlier hitting a record high of 31,522.87.

The broader NSE Nifty was

NSE gets SEBI notice on preferential access to brokers

 The Securities and Exchange Board of India (SEBI) has issued notice to the National Stock Exchange (NSE) following the market regulator's probe into alleged preferential access given by the stock exchange to some brokers through its 'co-location' facility.

"We have issued a show cause notice to NSE and to 14 key management personnel," SEBI Chairman Ajay Tya

Tata shows interest in buying majority stake in Air India - ET Now TV

NEW DELHI  - India's salt-to-software Tata conglomerate has shown an interest in buying a majority stake in state-run carrier Air India Ltd, television channel ET Now reported on Wednesday, citing unnamed sources.

Prime Minister Narendra Modi's administration has been exploring ways to privatise the loss-making national carrier, which was bailed out in 20

22/06/2017 9:06:06 AM | Posted in Special Event Expert Views read full news
EESL plans Rs 6,000 crore capex during 2017-18 fiscal

State-run Energy Efficiency Services Limited (EESL) plans to invest Rs 6,000 crore as capital expenditure during the 2017-18 fiscal year.

EESL's Managing Director Saurabh Kumar told reporters here on Wednesday that they plan to fund this massive capex through Rs 1,200 crore equity and Rs 4,800 crore debt.

While the company has equity of Rs 485 crore, about Rs 520 crore w

Federal Bank launches $310 million share sale to institutions - term sheet

MUMBAI - Indian private sector lender Federal Bank Ltd has launched a share sale to raise 20 billion rupees ($310 million), with an option to increase the amount by 5 billion rupees, according to a deal term sheet.

Federal Bank said in a regulatory filing on Wednesday it had launched a so-called qualified institutions placement of shares but did not give details.

RBI rate panel dissenter wanted 50 bp cut, rest watching inflation - minutes

MUMBAI - The Reserve Bank of India's monetary policy committee wants more evidence that inflation has sustainably fallen below its target before deciding whether to lower interest rates, minutes from its last meeting showed on Wednesday.

The RBI voted 5-1 to keep the repo rate at 6.25 percent earlier this month, but issued a slightly less hawkish statement after c