Equities trade flat-to-positive; consumer durables stocks surge

Key Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- pared their morning gains to trade on a flat-to-positive note during the mid-afternoon session on Tuesday, with healthy buying witnessed in consumer durables, banking and oil and gas stocks.

According to market observers, broadly negative global cues on the back of escalating geo-political tensions hampered investors&#

LIC sells over 2% in Bank of Baroda in open mkt sale

Life Insurance Corporation of India (LIC) has sold over 2 per cent shares in public sector Bank of Baroda in a open market sale in past two months, reported PTI. The open market sale of over 2.04 per cent stake (or 4,69,80,180 shares) took place between July 10 to September 1, Bank of Baroda said in a regulatory filing.

Calculated on a previous close of Rs 138.30 a share on September

PNB Housing Finance to raise up to Rs 1,000 crore via bonds

PNB Housing Finance plans to raise up to Rs 1,000 crore by issuing bonds on a private placement basis, reported PTI. The company will issue secured redeemable non-convertible bonds in the nature of promissory notes with the face value of Rs 10 lakh each, it said in a regulatory filing. The security '7.25 per cent PNB Housing Finance Ltd 2019' is for a tenor of two years, the company sai

Audi India launches Q7 40 TFSI quattro

German luxury car manufacturer Audi on Monday launched the "Audi Q7 40 TFSI quattro" priced at Rs 67.76 lakh onwards in India.

"With the introduction of the Audi Q7 40 TFSI quattro, we are now offering customers an exciting line-up of their preferred SUV to choose from and own their favourite Audi," said Rahil Ansari, Head, Audi India.

"This marks th

ONGC seeks shareholders`nod to raise $4 billion

MUMBAI  - India's state-owned Oil and Natural Gas Corp said on Monday it wanted to raise 250 billion rupees ($3.9 billion) through debt to fund acquisitions and capital expenditure this financial year.

ONGC's first debt issue in more than a decade would likely buy the government's 51.1-percent stake in refining and marketing company Hindustan Petroleu

MCX temporarily halts trade in evening hours, resumes it later

Commodity Exchange MCX had to halt trading on its platform as a problem was observed around Monday evening.

The exchange said that normal trading resumed at 7:36 p.m. and that members were allowed to cancel pending orders during a special session.

"MCX observed a problem with its trading system around 6:36 p.m. today. After assessing all the hardware, software and netwo

Supreme Court stays NCLT order on Jaypee Infratech

In relief to a group of flat owners/buyers in projects of Jaypee Infratech, the Supreme Court on Monday stayed the National Company Law Tribunal's (NCLT) order appointing an insolvency resolution professional to carry out corporate insolvency proceedings on IDBI's plea seeking recovery of Rs 526 crore from the company.

Staying the August 9 order of the Allahabad bench of NCLT,

Tata Motors President and CTO Leverton resigns

Automobile major Tata Motors on Monday said that its President and Chief Technical Officer Timothy Leverton has decided to "disengage from his services in the organisation".

According to the company, Leverton decided to leave the organisation as "he wishes to relocate back to UK for personal reasons".

Leverton has been associated with Tata Motors since 20

Hussain retires as TCS Director

IT major Tata Consultancy Services (TCS) on Monday said that Ishaat Hussain has retired as a Director of the company.

"We would like to inform... Ishaat Hussain has ceased to be a Director of the company with effect from September 3, 2017, as per the retirement age policy for Directors of the company," the company informed the BSE in a regulatory filing.

"It m

Global cues drag equity indices lower

Negative global cues on the back of escalating geo-political tensions in the Korean peninsula dragged the key Indian equity indices deep into the red on Monday.

According to market observers, heavy selling pressure in banking and auto stocks also weighed heavy on the NSE Nifty50 and the BSE Sensex.

Around 3.35 p.m., the wider 51-scrip Nifty50 of the National Stock Exchange (

NTPC`s issuer rating unaffected by government stake sale: Moody`s

Government's sale of its 6.6 per cent stake in the state-run power giant NTPC Ltd has no impact on the company's Baa3 issuer rating, Moody's Investors Service said today. After the sale, the government will continue to hold a majority stake of 63.1 per cent in NTPC. The company's ratings remain supported by its strategic importance to the Indian economy, given its position as th

VECV sales rise 9% at 4,571 units in August

Commercial vehicles maker VE Commercial Vehicles today reported 9.06 per cent rise in total sales at 4,571 units in August. The company, a joint venture between Volvo Group and Eicher Motors, had sold 4,191 units in the same month last year, VE Commercial Vehicles (VECV) said in a statement.

The August 2017 sales figure includes 4,521 units of Eicher brand and 50 units of Volvo brand.

CIL rules out privatisation buzz, says no coal shortage

India is not facing any scarcity of coal and the output of Coal India Ltd (CIL) is more than the countrys power demand, the mining behemoths interim Chairman and Managing Director Gopal Singh said as per the PTI report. Singh said the miner registered a high growth rate of 28 per cent output in FY17 over the last fiscal, while the average rise in power demand in the country was at 10.3 per cent

Micro Focus completes merger with HPE software business

Britain-based software firm Micro Focus on Monday announced completion of its merger with Hewlett Packard Enterprises (HPE) software business to help customers maximise existing software investments and embrace innovation in Hybrid IT.

Chris Hsu, formerly COO of HPE and Executive Vice President and General Manager of HPE Software, has been appointed CEO of Micro Focus.

"

Karnataka Bank bags award at IDRBT Excellence Awards

Karnataka Bank has said that it has bagged "Best Bank Award among Small Banks for use of Technology for Financial Inclusion" in the 13th IDRBT Banking Technology Excellence Awards 2016-17, held at Hyderabad, on 01-09-2017. “Shri Mahabaleshwara M S, Managing Director & CEO, received the Award from Shri Sudarshan Sen, Executive Director, Reserve Bank of India, on 01-09-2017 at

Cadila Healthcare bags approval for Mycophenolate Mofetil

Zydus Cadila has said that it has received the final approval from the USFDA to market Mycophenolate Mofetil for Injection USP, 500 mg/vial. “The drug is indicated for use in combination with other drugs i.e., cyclosporine and corticosteroids for the prophylaxis of organ rejection in patients receiving renal, hepatic or cardiac transplants. The drug will be manufactured at the group&rsquo

Equities skid on geo-poltical tensions, sell-off in banks, auto stocks

Negative Asian markets on the back of escalating geo-political tensions and heavy selling pressure in banking and auto stocks dragged key Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- lower by almost one per cent each during the mid-afternoon trade session on Monday.

Around 12.40 p.m., the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) fell by 79.60 point

Global cues, rupee movement to drive Indian equity markets

Global cues, along with the government's measures to revive growth and tackle the non-performing assets (NPAs) issue are expected to determine the way forward for the Indian equity markets during the upcoming week.

Besides, the rupee's movement against the US dollar and the direction of foreign funds flow will also have a major bearing on the trajectory of the equity indi

NTPC`s power generation rises 12% in August

NTPC recorded 12.55 per cent growth in power generation in August this year as compared to the same month in 2016, reported PTI. "The total (power) generation for the month (August 2017) was 22.347 billion units (BU) as against 19.855 billion units," NTPC said in a statement. The plant load factor (PLF) increased 5.58 per cent as compared to August last year. Koldam hydro power projec

Rate cut hopes, healthy domestic cues lift equity indices

Short covering ahead of the August derivatives expiry, coupled with hopes of a rate cut by the Reserve Bank of India (RBI), healthy auto sales data and manufacturing data for the month of August, contributed to the bull run of key Indian equity indices for the third consecutive week.

Besides, investors' sentiments remained upbeat over positive global cues on the back of easing geo

Ducati India looks at 18% growth in sales

Italian superbikes-maker Ducati India is looking to grow by at least 18 per cent in the current calendar year and plans to expand its dealer network, a company official said on Friday.

"Last year, we sold 1,000 units and our year-on-year growth was 18 per cent. We expect not only this year (calendar year) but also next one year to grow at least at the same pace," company'

US court verdict on patent case favourable to us: Dr Reddy`s Laboratories

Drug maker Dr Reddy's Laboratories on Friday said a US district court issued a judgment in its favour as it ruled that the proposed generic version of Suboxone sublingual film does not infringe US patent as asserted by Indivior.

Suboxone (buprenorphine and naloxone) sublingual film is indicated for the maintenance treatment of opioid dependence.

"...on August 31, 20

Coal India gets new interim Chairman

The Coal Ministry has given interim charge of Coal India Ltd (CIL) Chairman and Managing Director to Gopal Singh, who is Chairman of the miner's subsidiary Central Coalfields Ltd (CCL), it was announced on Friday.

The previous chairman, Sutirtha Bhattacharya, retired on Thursday.

"Ministry of Coal has entrusted the additional charge of CIL CMD to Gopal Singh, CMD, C

Hero MotoCorp achieves all-time high sales in August

 Two-wheeler major Hero MotoCorp on Friday reported that during August 2017 it has achieved the highest-ever sales for any single month.

According to the company, its sales rose by 10 per cent to 678,797 units from 616,424 units sold in August 2016.

The company's previous highest in monthly sales was recorded in September 2016 when it had sold 674,961 units.

Axis Bank says it has exposure to 12 NPA accounts in RBI's second list

Private sector lender Axis Bank on Friday said that it has exposure to 12 non-performing asset (NPA) or bad loan accounts in the second list of top defaulters that Reserve Bank of India (RBI) has reportedly sent to banks.

"The RBI issued directions in their communication dated August 28, advising banks to finalise and implement viable resolution plan in select accounts by Decembe