Weak global cues pull Indian equities lower

Bearish global cues, coupled with a marginally weak rupee and heavy selling pressure in metal, automobile and healthcare stocks, pulled the Indian equity markets lower on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 34.15 points or 0.37 per cent to 9,105.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 2

RBL Bank launches contest to create innovative solutions

Private sector RBL Bank has announced the launch of a contest aimed at fostering the creation of new solutions in banking and financial services. The contest, 'RBL Hackathon', is targeted at engineering students, IT professionals, tech enthusiastic, start-ups and app developers, the bank said in a statement.

The competition is supported by IBM, StartupBootcamp, Pricewaterhouse

BEML bags Hindustan PSU Award

BEML, a defence public sector, has said in a filing to the Bombay Stock Exchange that it has received the Hindustan PSU Award under the category ‘Fastest Growing Organisation – Miniratna’. Umesh Chandra, Executive Director, received the award on behalf of the company.

The award was presented by Nitin Gadkari, Union Minister of State for Road Transport, along with Piy

APL Apollo Tubes launches Apollo Coastguard

APL Apollo Tubes, the pioneer in Steel pipes and Sections, has said that it has launched its new brand Apollo Coastguard, a revolutionary change in the world of galvanized steel pipes. These pipes are made of special galvanized steel to provide excellent corrosion resistance against wind, water and road salts which means that these galvanized steel pipes are 100 per cent rust proof pipes to las

Tata Steel plans to raise funds

Tata Steel on Monday said its Board of Directors in its meeting this week would consider a proposal for raising funds.

"...a meeting of the Board of Directors of the company will be held on Thursday, April 20, 2017, inter-alia to consider a proposal for fund raising," it said in a filing to BSE.

The company which is the world's second-most geographica

Sensex rises; banks rally as healthy earnings expected

By Darshana Sankararaman

Indian shares rose on Tuesday after three straight sessions of falls as the corporate results season kicked in with banks rallying on expectations of stronger earnings.

The earnings season got off to a weak start with IT major Infosys Ltd issuing a lower-than-expected revenue guidance last week, but analysts still see signs of positive results this q

Over 99 per cent TCS investors approve share buyback

Over 99 per cent of investors of Tata Consultancy Services Ltd (TCS) voted in favour of its special resolution on buyback of 5.61 crore equity shares of Re 1 face value for Rs 16,000 crore, said the software major on Monday.

"In all, 7,341 members voted in favour of the resolution and 577 against it through electronic voting system and physical ballot form between March 17 a

NCLT dismisses Mistry's waiver plea

An apex corporate tribunal on Monday dismissed a plea filed by Cyrus Mistry's investment companies to waive off a regulatory bar on them, so that they can continue their legal suit against the Tata Sons.

Besides, the main petition which was filed against Tata Sons was also rejected.

The National Company Law Tribunal (NCLT) here dismissed the plea filed by Mistry's in

BHEL commissions 2 thermal units in Maharashtra

State-run Bharat Heavy Electricals Ltd (BHEL) on Monday said it has successfully commissioned 2 units of 270 MW at RattanIndia Nasik Power Ltd’s 5x270 MW thermal power project in Maharashtra. “BHEL has successfully commissioned two units of 270 MW at RattanIndia Nasik Power Limited’s 5x270 MW thermal power project, located at Sinnar in Nasik district of Maharashtra,” the

Bhushan Steel promoter settles case with Sebi

Bhushan Steel promoter Neeraj Singal has settled a case related to alleged violation of insider trading norms with markets regulator Sebi after payment of over Rs 4 lakh as a settlement charges. "The adjudication proceedings proposed to be initiated against the applicant (Singal) for the alleged violation... are settled," Sebi said in a settlement order, adding that it would not initi

HCL renews IT services engagement with Singapore Exchange

HCL Technologies said that its IT services engagement with Singapore Exchange has been renewed for an additional five years. No financial details of the deal were disclosed. The new contract expands the scope from the earlier year 2010 engagement covering IT infrastructure, data centre services and IT management, HCL said in a statement. The new contract, in a managed services construct, spans

Indiabulls Real Estate plans to reorganise existing biz

Real estate firm Indiabulls Real Estate Ltd on Monday said that it is looking to reorganise existing business through demerger. In a filing to the Bombay Stock Exchange, Indiabulls Real Estate said, “The company's board in its meeting considered the possibility of streamlining its existing residential, commercial and leasing businesses by segregating ‘commercial & leasing

Air India proposes hefty fines for unruly passengers

National passenger carrier Air India has formulated new guidelines to deal with unruly passengers with hefty fines up to Rs 15 lakh proposed.

According to AI sources, a new set of guidelines and fines have been drafted by the airline's legal team which is awaiting approval from Air India's Chairman and Managing Director Ashwani Lohani's office.

The draft guidelin

Global cues, caution over Q4 results depress equity markets

The Indian equity markets closed on a flat note on Monday as bearish global cues, coupled with caution over the ongoing fourth quarter results season, eroded investors' risk-taking appetite.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 11.50 points or 0.13 per cent to provisionally close at 9,139.30 points.

The 30-scrip Sensitive Index (Se

NTPC power generation cost drops 39.5 paise to below Rs 2/unit

The state-owned NTPC has managed to bring down its cost of electricity generation by an average 39.5 paise while for the Mauda project, it was a decline of Rs 1.65 per unit, mainly because of improvement in coal quality and supply. Data available with NTPC showed that the overall cost of power generation has come down to below Rs 2 last fiscal, driven by improved quality of coal and its supplie

USFDA inspects Baroda plant, no observations issued: Alembic

Alembic Pharmaceuticals today said no observations were issued by US health regulator USFDA after inspection of its Baroda facility. The bio-equivalence facility was inspected by US Food & Drug Administration (USFDA) from March 6-10; March 13-17 and April 10-12, Alembic said in a filing to BSE. "There were no 483s issued by USFDA at the end of the inspection," it added.

L&T Construction bags order worth Rs 2694 crore

L&T has said that its construction arm L&T Construction has won orders worth Rs 2694 crore across various business segments. The company for the water & effluents treatment business has received order worth Rs 2227 crore for the engineering, construction and procurement purposes from Narmada Water Resource Supply and Kalpsar Department, Government of Gujarat for Kadana – Patad

Indo-US civil n-deal deadline will be missed

 The June 2017 deadline for operationalising the Indo-US civil nuclear cooperation will "certainly" be missed, former National Security Adviser M.K. Narayanan said here on Monday.

At the same time, Narayanan expressed optimism about things falling into place, especially with India boosting its uranium supply.

"The deadline will certainly be missed by ever

Reliance Defence partners with South Korean major for smart sensors

Reliance Infrastructure-promoted Reliance Defence and South Korean major LIG Nex1 will jointly explore opportunities in supply of weaponry need by Indian armed forces, the company announced on Monday.

In a statement issued here, Reliance Defence said it has entered into a strategic partnership agreement with LIG Nex1 whereby the two companies will explore opportunities in the indentif

India plans stake sales worth $5.4 billion in seven state-run firms

NEW DELHI/MUMBAI - India plans to sell stakes worth $5.4 billion in seven state-run companies during the current financial year as Asia's third-largest economy looks to fund its fiscal deficit amid ramped-up spending on rural areas and infrastructure.

The part sale of government stakes in state-run and private firms is critical to meet the fiscal deficit targ

Indian shares little changed as investors focus on company results

By Darshana Sankararaman

Indian shares were nearly unchanged on Monday as investors waited for positive corporate results after a disappointing start to the earnings season last week when Infosys Ltd issued a lower-than-expected revenue guidance.

Shares of Infosys, the country's second-biggest software services exporter, were down 0.7 percent after falling 3.87 percent o

Key Indian equity indices open flat

 The key Indian equity indices on Monday opened flat.

The 30-scrip Sensitive Index (Sensex), was trading 23.07 points or 0.08 per cent lower soon after opening.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 6.70 points or 0.07 per cent lower at 9,144.10 points.

The Sensex of the BSE, which opened at 29,470.27 points, was tradin

Quarterly results, geo-political tensions to guide equity markets

The ongoing fourth quarter results' season, along with global geo-political tensions are expected to guide the movement of the Indian equities markets during the upcoming trade week.

"Upcoming fourth quarter earnings results and development in global geo-political tensions are expected to determine the trend of the market," D.K. Aggarwal, Chairman and Managing Director,

RInfra's 2016-17 net profit up 88%

Reliance Infrastructure (RInfra) on Saturday reported an exponential rise of 88 per cent in its consolidated net profit for the entire financial year 2016-17.

The company's consolidated net profit rose to Rs 1,425 crore from Rs 760 crore reported in 2015-16.

According to RInfra, its total income for the financial year under review stood at Rs 28,222 crore from