Chambal Fertilisers gets nod to sell ship for $24.5 mn

Chambal Fertilisers and Chemicals Ltd today received the board's approval for sale of one of its ships to Liberian company Railto Navigation for Rs USD 24.5 million (approximately Rs 157 crore). The sale of the ship 'Ratna Shalini' is expected to be completed by July 15, the company said in a BSE filing. The book value of the ship was Rs 194.04 crore as on March 31, 2017, it added.

SML Isuzu sales down 45.3% in April

SML Isuzu Limited (SMLI), a commercial vehicle manufacturer, on Tuesday reported a decline of 45.3 per cent in its April sales at 768 vehicles in the month of April, 2017, against 1,404 vehicles sold in the year ago period. “275 BSIII vehicles have been returned by dealers during April 2017 pursuant to Supreme Court judgment pronounced on 29th March, 2017, banning sale of BSIII vehicles p

M&M tractor sales climb 22% in April

Homegrown auto major Mahindra & Mahindra Ltd’s (M&M) Farm Equipment Sector (FES) on Tuesday reported a growth of 22 per cent in its total tractor sales at 26,001 units in April FY18. It had sold 21,386 units during the same period last year, the company said in a filing to the BSE on May 02, 2017.

The domestic tractor sales of the company jumped 21 per cent to 25,081 uni

HMSI sales up 34% in April at 5,78,929 units

Honda Motorcycle and Scooter India (HMSI) today reported 34 per cent increase in total sales at 5,78,929 units in April. It had sold 4,31,065 units in the same month last year. In the domestic market, sales grew 33 per cent to 5,51,884 units last month as against 4,14,035 units in April 2016, the company said in a statement. Exports grew 59 per cent to 27,045 units in April as against 17,030 un

M&M April auto sales drop 6% to 39,357 units

Auto major Mahindra & Mahindra Ltd on Tuesday reported a fall of 6 per cent in its total auto sales at 39,357 units in April this year. It had sold 41,863 units during the same period previous fiscal, the company said in a filing to the Bombay Stock Exchange on May 02, 2017. In the domestic market, sales fell by 4 per cent at 37,829 units in the month of April this year, as compared to 39,3

Reliance Infratel gets shareholders' nod for tower unit's merger with Brookfield Infrastructure

The shareholders of Reliance Infratel (RITL), a subsidiary of Reliance Communications (RCOM) at their meeting on April 29, 2017 have approved with 98 per cent majority the merger of the tower division of the RITL into Towercom Infrastructure Private Limited (TIPL), a company statement said here on Tuesday.

"Upon the completion of the demerger, through a Scheme of Arrangement, and

Ashok Leyland April sales down

Commercial vehicle major Ashok Leyland Ltd on Tuesday said it sold 7,083 units in April.

A company statement said this was far below the 10,182 units sold in April 2016.

While the company registered sales growth in its light commercial vehicles segment, the overall sales was brought down by lower sales in the medium and heavy commercial vehicles segment.

Asian factories get off to solid start in second quarter

NEW DELHI  - Factories across much of Asia got off to a solid start in the second quarter, buoyed by strong global demand, particularly for hi-tech gadgets which are leading a sizzling rally in electronics.

 Though China's manufacturing growth eased more than expected in April, business still improved and there were no hints of a sharp loss of momentum d

GAIL awards contract for laying pipeline in Kerala

State-owned gas utility GAIL India Ltd said that it has awarded natural gas pipeline laying work contracts for 131-km in Kerala. With this award, 75 per cent of the Kochi-Koottanad-Mangaluru pipeline is now in construction phase.

The 131-km section from Areacode (Malappuram) to Kurumathoor (Kannur) will cost about Rs 200 crore, the company said in a BSE filing. The balance 111-km stre

Toyota Kirloskar Motor sales grow 48% in April

Toyota Kirloskar Motor (TKM) has reported a 47.85 per cent jump in total sales at 14,057 units in April, driven by its newly launched SUV Fortuner. The company had sold total 9,507 units in the same month last year, TKM said in a statement. Domestic sales grew 51.81 per cent to 12,948 units as against 8,529 units in April last year, it added.

TKM exported 1,109 units of the Etios seri

Coal India's production declines, sales grow in April

Coal India on Tuesday said its production during April declined by 4.8 per cent to 38.44 million tonnes (mt) as compared to 40.09 mt produced in the year-ago month.

The miner reported its off-take grew by 6.1 per cent in April to 45.29 mt as against 42.45 mt sold in corresponding month in 2016. 

Miner's two subsidiaries -- South Eastern Coalfields Limited (SECL) and

ICICI to make 600 villages digitally-enabled in 2017

The ICICI Group on Tuesday said it has made 100 villages digitally-enabled in 2017 while planning to transform another 500 by the year-end.

Finance Minister Arun Jaitley while inaugurating the 100 ICICI digital villages here said: "The ICICI initiative should be followed by other banks in rural areas."

ICICI Bank MD and CEO Chanda Kochhar said: "We have transf

Indian factory activity expands for fourth month in April - PMI

BENGALURU - Indian manufacturing activity expanded for a fourth consecutive month in April, helped by stronger growth in new orders although rises in output and employment slowed, a business survey showed on Tuesday.

The Nikkei/Markit Manufacturing Purchasing Managers' Index, compiled by IHS Markit, held steady at March's 52.5 last month, its fourth month abov

Indian equities trade flat, Sensex below 30,000-mark

Indian equity markets traded on a flat note during the mid-afternoon trade session on Tuesday on the back of mixed global cues and heavy selling pressure in healthcare and capital goods stocks.

The barometer 30-scrip BSE Sensitive index (Sensex) and the wider NSE Nifty both slipped below their psychologically important 30,000-mark and 9,300-mark during the intra-day trade.


Infosys plans to hire 10,000 U.S. workers after Trump targets outsourcing firms

SAN FRANCISCO/MUMBAI  - India-based IT services firm Infosys Ltd said it plans to hire 10,000 U.S. workers in the next two years and open four technology centers in the United States, starting with a center this August in Indiana, the home state of U.S. Vice President Mike Pence.

The move comes at a time when Infosys and some of its Indian peers such as Tata Cons

Tata Motors' sales decline 21% in April

 Automobile major Tata Motors on Monday reported a 21 per cent decline in its total sales, including exports, of passenger and commercial vehicles during April 2017.

According to the company, the total sales, including exports, of passenger and commercial vehicles of the company stood at 30,972 units -- down 21 per cent -- from 39,389 vehicles sold during April 2016.


Hyundai sales grew 3.6% in April

Hyundai Motor India Ltd on Monday reported 3.6 per cent growth in sales to 56,368 units in April as compared to 54,420 units sold in the same month in 2016.

Out of the total sales in April, its domestic sales stood at 44,758 units, up 5.7 per cent from 42,351 units sold in the corresponding month of the last financial year.

"Hyundai with volume of 44,758 units continued

Maruti Suzuki's April sales up 19.5%

 Automobile major Maruti Suzuki India on Monday reported a surge of 19.5 per cent in April sales.

The sales during the month rose to 151,215 units from 126,569 units in the corresponding month in 2016.

For April, domestic sales edged by 23.4 per cent to 144,492 units from 117,045 units.

However, exports of the automobile major declined by 29.4 per cent, with 6

Global cues, Q4 results to chart course of equity indices

Global cues, especially the upcoming US Federal Reserve's rate-setting meet, are likely to chart the course of major domestic equity indices during the week starting May 2, 2017.

"US Fed speeches, FOMC (Federal Open Market Committee) rate decision and jobs data shall mean that US equities' moves would be in focus next week," Anand James, Chief Market Strategist of Ge

Indian markets closed on Monday for public holiday

MUMBAI - India's markets are closed on Monday for a public holiday. Trading will resume on Tuesday.

On Friday, the benchmark BSE Sensex index fell 0.37 percent to 29,918.40, while the broader NSE Nifty index lost 0.41 percent to 9,304.05.

The rupee closed at 64.24/25 compared to its 64.15/16 close on Thursday.

The benchmark 10-year bond yield r

Analysis - Global pension funds warm to India's solar power ambitions

By Devidutta Tripathy and Sudarshan Varadhan

MUMBAI/NEW DELHI - Some of the world's biggest pension funds, seeking long-term returns on green investments, are scouting for deals in India's solar power sector, where Prime Minister Narendra Modi is targeting $100 billion in investment in the next five years.

Power demand in Asia's third-largest ec

Smartphone shipments in India grew 15% in Q1 2017

Smartphone shipments in India registered a growth of 15 per cent annually in the first quarter of 2017, reaching 29 million units, a report said on Saturday.

According to findings by market research firm Counterpoint, Samsung continued to retain the top spot, followed by Xiaomi. Vivo, OPPO and Lenovo (that also includes Motorola) occupied the other three spots.

Together, all

Samsung regains top spot in Q1 smartphone market

South Korean giant Samsung Electronics regained the top status in the global smartphone market in the first quarter of the year, even before the release of its flagship Galaxy S8, a report said on Saturday.

According to market research firm IDC, the South Korean tech giant sold about 7.9 million smartphones during the January-March period to account for a market share of 22.8 per

Ambuja Cements net profit jumps 357%

Ambuja Cements Ltd, a part of the global conglomerate LafargeHolcim, on Friday reported a 357 per cent increase in its standalone net profit to Rs 247 crore for the quarter ended March 31, 2017 as compared to Rs 54 crore in the corresponding period of previous financial year.

The jump in net profit was attributed to sharp reduction in depreciation and amortisation expense along tax ex

Ujjivan Small Finance Bank aims Rs 2,500 cr deposits in 2017-18

Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18.

In a view to serving unbanked people, the small finance bank, which commenced its operation two months ago, plans to open 30 branches soon and 171 by end of this financial year.

"We target to mobilis