Reliance Jio launches new unlimited 'Dhan Dhana Dhan' tariff plan

 Reliance Jio Infocomm on Tuesday said the Jio Summer Surprise has been fully withdrawn, following the Telecom Regulatory Authority of India's advice and the company has launched new unlimited plans for its Prime members, 'Jio Dhan Dhana Dhan'.

The plans start with Rs 309 all unlimited plan, which provides unlimited SMS, calling and data (1GB per day at 4G speed) for

Wipro completes acquiring Brazilian firm

Software major Wipro on Tuesday announced completing the acquisition of Brazilian IT services firm InfoServer SA for $8.7 million (Rs 59 crore) on Monday.

"We would like to inform that the acquisition of InfoServer has been completed on April 10. The impact of the acquisition is expected to reflect in our financials for the quarter ending June 30, 2017," said the IT major in

India's 2017/18 fuel demand seen up 5.8 percent - government

NEW DELHI - India's annual fuel demand is estimated to grow at 5.8 percent in the fiscal year to March 2018, higher than the previous year, government data showed on Tuesday, indicating improved industrial activity.

Local fuel demand - a proxy for oil demand - in India rose about 5 percent in the last fiscal year as economy slowed in the March quarter after govern

Mining group Vedanta completes buyout of Cairn India

MUMBAI - Indian metals and mining group Vedanta Limited said on Tuesday it had completed its buyout of oil and gas explorer Cairn India Ltd, consummating a deal that was delayed for months by investor opposition.

Cairn India said in a separate statement its board had made the merger effective as of Tuesday.

The deal gives Vedanta Limited, the Indian unit of

India FY 2017-18 passenger vehicle sales seen up 9 percent

NEW DELHI - India's passenger vehicle sales are expected to grow by as much as 9 percent in fiscal 2017-18, before stabalising at a higher growth rate in the coming years, the country's auto industry body said on Tuesday.

This year (starting April 1), demand is likley to be disrupted because of the introduction of a unified tax system and a shift to selling ne

Tata launches indigenous TAL Brabo industrial robots

India's first industrial-articulated robots in different sizes targeted at micro, small and medium enterprises besides large-scale manufacturers, to help increase their efficiency, were launched by Tata Motors Ltd here on Tuesday.

The TAL Brabo, weighing 2-10 kg, and costing between Rs 5,00,000 and Rs 7,00,000 are designed to increase productivity by 15-30 per cent and a payback t

Mahindra & Mahindra, SsangYong to develop electric SUVs by 2020

By Zeba Siddiqui

MUMBAI - Indian automaker Mahindra & Mahindra Ltd and its Korean unit SsangYong Motor Co plan to jointly develop a platform to manufacture electric sport-utility vehicles (SUV) by 2020, the companies said on Tuesday.

"We are now very diligently cooperating with Mahindra to develop the new generation of electric vehicles," Choi

BHEL, Indian Railways partner for rooftop SPV systems

State-run Bharat Heavy Electricals Ltd (BHEL) on Tuesday said it has inked a pact with Indian Railways Organisation for Alternate Fuels (IROAF) for installation of 2 MWp roof top SPV systems at Diesel loco Modernisation Works (DMW), Patiala. “BHEL has bagged one more major order of 2 MWp roof top SPV systems to be installed at Diesel loco Modernisation Works (DMW), Patiala and the contrac

Value buying lifts equity markets higher

Value buying and short covering lifted the Indian equity markets to provisionally close on a positive note during Tuesday's trade session.

Healthy buying was witnessed in banking, IT and pharma stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 55.55 points or 0.61 per cent to provisionally close at 9,237 points.


Ramakrishnan P resigns as Deputy MD of Sobha Ltd

Bangalore-based realty firm Sobha Ltd on Tuesday said that its Deputy Managing Director, Ramakrishnan P, has resigned from the designated post due to personal reasons. “Due to personal reasons, Ramakrishnan P, Deputy Managing Director has tendered his resignation as Deputy Managing Director and Director from the Board of Directors of the company, effective April 07, 2017,” Sobha Ltd

Emami launches its edible oil brands in Bihar

Business conglomerate Emami group has launched its healthy edible oil brand in Bihar to expand its footprint in the state. Emami Group Sales Strategy head Krishna Mohan and its Vice-president Debashish Bhatacharya announced introducing four brands of edible oil in Bihar at a press conference. They said after consolidating its position in the existing market in West Bengal, Emami Healthy & T

Tata Power, Adani Power slump as top court sets aside tribunal order

The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd, sending down shares of both companies.

Shares of Tata Power reversed early gains to fall as much as 6.78 percent, while Adani Power slumped up to 20 percent to its lowest since Feb. 21.

The tribunal, in April last year,

Vedanta says India unit's zinc output up 40 percent in fourth quarter

Diversified miner Vedanta Resources Plc said on Tuesday refined zinc production at its India unit rose nearly 40 percent in the fourth quarter, boosted by higher output at a mine in Rajasthan.

Refined zinc production rose to 215,000 tonnes in the quarter ended March 31, from 154,000 tonnes a year earlier, the company said in a statement.

Full-year integrated zinc production

Flipkart to grow with careful considerations to costs: Binny Bansal

Flipkart Co-founder Binny Bansal said while the latest funding round provides the fuel the company needs to reach its goal of transforming commerce in India through technology, it should continue to grow its business with careful considerations to costs, reported PTI. "I must stress that we still have some distance to go before fulfilling our mission - to transform commerce in India throug

HDFC Bank to raise Rs 50,000-cr in next 12 months

HDFC Bank said it will raise Rs 50,000 crore within a year by issuing debt instruments, reported PTI. The Bank proposes to raise funds by issuing perpetual debt instruments (part of additional tier I capital), tier II capital bonds and senior long term infrastructure bonds up to a total amount of Rs 50,000 crore, the bank said in a regulatory filing.

Perpetual bonds carry no maturity

Equity markets make gains during morning session

The Indian equity markets made gains during the morning trade session on Tuesday following healthy buying in oil and gas, capital goods and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 22.85 points or 0.25 per cent at 9,204.30 points.

The 30-scrip Sensitive Index (Sensex) of the BSE gained 117.96 points or 0.40 per cent

Tata Motors Group's global wholesales up 9%

Tata Motors Group on Monday said its global wholesales, including Jaguar Land Rover, rose by nine per cent in March 2017.

The company said the global wholesales (including Jaguar Land Rover) for the month under consideration stood at 129,951 units -- up nine per cent -- over March 2016.

"Global wholesales of all Tata Motors' commercial vehicles and Tata Da

Cyber attack on Union Bank of India similar to Bangladesh heist - WSJ

MUMBAI  - A cyber attack on Union Bank of India last July began after an employee opened an email attachment releasing malware that allowed hackers to steal the state-run bank's data, the Wall Street Journal reported on Monday.

The attempt closely resembled the cybertheft last year of more than $81 million from the Bangladesh central bank's account at the

CESC likely to announce business restructuring scheme in May

The Rs 32,000-crore RP-Sanjiv Goenka group may announce the "business restructuring scheme" of its flagship power company CESC in May, a company source said on Monday.

The restructuring scheme is "ready" and the company will likely create separate entities for the two verticals-generation and distribution.

"CESC is keen to time the recast a

Flipkart raises $1.4 billion in high stakes battle with Amazon

MUMBAI- India's top e-commerce firm Flipkart has raised $1.4 billion in its biggest fundraising to date as it takes on U.S. tech giant Inc for a larger share of the country's burgeoning online retail market.

Chinese social media and entertainment firm Tencent Holdings Ltd, the world's biggest software company Microsoft Corp and online marketplac

Manufacturing to witness slight decline in Q4

The manufacturing sector is likely to witness a slight decline in the January-March quarter of 2016-17 on increased cost of production, an industry body said on Monday.

"The latest quarterly survey reported a decline in the outlook for the sector for Q4 of 2016-17 due to rising cost of production which has impacted the competitiveness of the sector in the last few months,&qu

China's SAIC says not signed formal agreement to buy GM's India plant

NEW DELHI - SAIC Motor Corp has not signed any formal agreement with General Motors to take over the latter's car plant in the western Indian state of Gujarat, the Chinese automaker said in a statement on Monday.

SAIC has signed a term sheet to evaluate buying the plant but the deal is subject to General Motors securing all government approvals and settling p

NHPC completes mechanical spinning of unit 2 of Parbati proj

NHPC Ltd, an Indian hydro power generation company, on Monday said it has successfully achieved the mechanical spinning of unit 2 of Parbati HE project, stage-II (4X200) MW in Himachal Pradesh. In a filing to the Bombay Stock Exchange, the company said, “Mechanical spinning of unit 2 of Parbati HE project (4X200) MW, stage-II in Kullu, Himachal Pradesh has been successfully achieved on Ap

RBI extends Karur Vysya Bank CEO`s term by 3 months

Private sector lender Karur Vysya Bank on Monday said the Reserve Bank has extended of tenure of K Venkataraman, managing director and chief executive officer of the bank, for a period of three months from June 01, 2017 to August 31, 2017.

“RBI has approval for the extension of tenure of K Venkataraman, managing director and chief executive officer of the bank to continue for a

Geo-political concerns pull Indian equities lower

 Global geo-political tensions, a weak rupee and selling pressure in IT, consumer durables, and Teck (technology, media and entertainment) stocks pulled the domestic equity markets lower on Monday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 16.85 points or 0.18 per cent to 9,181.45 points.

The barometer 30-scrip sensitive index (Sensex) of the