IDBI Federal Life partners with SunTec for GST roll out

IDBI Federal Life Insurance today said it has partnered with SunTec, which will help facilitate in computing and invoicing of debit tax and credit tax that will be GST compliant. "We are happy to partner with SunTec and look forward to becoming GST compliant.

 Given the diverse business portfolios, it becomes crucial for us to ensure that all taxation-related data is compute

India-US trade win-win situation: India

Ahead of Prime Minister Narendra Modi's visit to the US, the Commerce Ministry on Tuesday said bilateral trade was a "win-win" situation for both the countries even though the balance of trade was not in America's favour.

The US had started a review of its trade policy with countries with which it has adverse trade balance, Commerce Secretary Rita Teaotia told the me

Reliance Defence enters into partnership with Yugoimport of Serbia

Reliance Infrastructure (RInfra) promoted Reliance Defence Ammunition has entered into a strategic partnership with Yugoimport of Serbia for ammunition manufacturing in India, a company statement said here on Tuesday.

The two companies will work together in the field of ammunition, amongst others, with projected minimum requirement of Rs 20,000 crore over the next 10 years from Indian

Indian equities close flat, banking stocks slip

The Indian equity markets on Tuesday trimmed gains to provisionally close on a flat-to-negative note as investors booked profits and banking and FMCG stocks witnessed selling pressure.

However, positive European markets and healthy buying in consumer durables, IT and oil and gas stocks limited the downside.

The wider Nifty of the National Stock Exchange (NSE) inched lower by

Over 1,100 ISB students get Rs 22 lakh a year job offers

Students of the Indian School of Business (ISB) here have secured over 1,113 job offers in the campus placements this year with an average salary of around Rs 22 lakh a year.

Over 400 domestic and international companies made the offers to 903 students of the ISB's flagship Post Graduate Programme in Management (PGP).

The premier business school, which has campuses in Hy

GE Power appoints Andrew H. DeLeone as an Additional Director

GE Power India said that it has appointed Andrew H. DeLeone as an Additional Director of the Company with effect from 20 June 2017. “The Board of Directors of the Company in its meeting held on 20 June 2017 (today) has appointed Mr. Andrew H.

DeLeone as an Additional Director of the Company with effect from 20 June 2017,” the company said in a filing to the Bombay Stock Ex

Dr. Reddy's Lab allots 13,627 equity shares under ESOP scheme

Drug maker Dr. Reddy's Laboratories on Tuesday said it has allotted 13,627 equity shares of Rs 5 each of the company to employees on exercise of their stock options.

“Nomination, Governance & Compensation committee of the board of directors of the company has allotted 13,627 equity shares of Rs 5 each of the company, fully paid up, on June 20, 2017, to employees on exerc

Modi to discuss H-1B visa issue with Trump next week - official

By Manoj Kumar

NEW DELHI  - Prime Minister Narendra Modi will take up the issue of visas for skilled workers when he meets U.S. President Donald Trump next week in Washington, a senior government official said on Tuesday.

Trump has ordered a review of the U.S. visa programme for bringing high-skilled foreign workers into the United States, putting techn

Hike rolls out India's first payment wallet within messaging platform

By Sankalp Phartiyal

MUMBAI - Indian instant messaging platform Hike rolled out an in-app electronic payments wallet on Tuesday in a bid to cash in on rising digital transactions, replicating similar services offered by its backer Tencent Holdings in China.

E-payments have surged in India since a shock ban of high-value bank notes in November last year. Prov

Pennar Industries gets nod to setup JV in US

Engineering and special steel solutions provider, Pennar Industries said that the company and Pennar Engineered Building Systems has received approval to set up a 50:50 joint venture in United States of America to supply their goods and services.

“The Executive Finance Committee of the Company at its meeting held on 20th June, 2017, approved to set up a joint venture in United S

Zydus gets USFDA nod for Diflunisal tablets

Pharma major Cadila Healthcare Ltd on Tuesday said Zydus got final approval from the US health regulator to market Diflunisal tablets of 500 mg. “Zydus Cadila has received the final approval from the USFDA to market Diflunisal tablets in the strength of 500 mg,” Cadila Healthcare Ltd said in a filing to the Bombay Stock Exchange on June 20, 2017.

The company further said t

Passengers in domestic airlines grow 17.63% in January-May

 Passengers carried by domestic airlines grew by close 18 per cent to 465.87 lakhs during January-May 2017 as against 396.04 lakhs in the corresponding period of previous year, according to the performance report of the domestic airlines released on Monday.

"Passengers carried by domestic airlines during Jan-May 2017 were 465.87 lakhs as against 396.04 lakhs during the corre

Wipro investors vote for higher authorised capital, bonus shares

 Shareholders of software major Wipro Ltd approved two resolutions of its board to increase the authorised share capital and issue bonus shares through postal ballot and by electronic voting, said the company on Monday.

"As decided by the company's board on April 24-25, a postal ballot and electronic voting were conducted from May 5 to June 3 to seek approval of the memb

Lockheed Martin, Tata join hands to produce F-16 Block 70

 Lockheed Martin and Tata Advanced Systems Limited (TASL) Monday signed an agreement to join hands to produce the F-16 Block 70 in India.

The F-16 Block 70 is ideally suited to meet the Indian Air Force's single-engine fighter needs and this unmatched US-Indian industry partnership directly supports India's initiative to develop private aerospace and defense manufacturing

Sensex rises as IT stocks rally; state farm loan waiver hits lenders

 

By Jessica Kuruthukulangara

India's key equity indices edged higher on Tuesday as technology shares rose, while a fall in lenders following the Punjab state government's farm loan waiver in the country's so-called granary capped gains.

Shares of information technology companies including Infosys Ltd jumped tracking an overnight rebound in U.S. te

Pune moves to revive municipal market with bond sale

By Rafael Nam and Krishna Merchant

MUMBAI - Pune sold $31 million in 10-year bonds on Monday, as cities in Asia's third-largest economy look to tap investors for the first time in a decade to finance infrastructure projects.

Though small, the issuance is a key first step in India's plan to revive a municipal bond market that saw its last sale in 2007

Subrata Roy has sold its stakes in London`s Grosvenor House Hotel, SC told

The Supreme Court on Monday was informed that Sahara Chief Subrata Roy has sold his stakes in Grosvenor House Hotel in London as the court extended by 15 days the time for him to deposit Rs 709.82 crore - the balance of Rs 1,500 crores that he had to deposit by June 15.

The couyrt was told that his stakes in London's Grosvenor House Hotel have been sold to GH Equity UK Limited.

Tata Motors says no plans to list Jaguar Land Rover

 Tata Motors Ltd said on Monday it had no plans to list its luxury British car brand Jaguar Land Rover after Bloomberg reported that the automaker was considering an initial public offering of the unit.

"There are no plans to list Jaguar Land Rover," a Tata spokesman told Reuters. "There is no truth in those rumours."

(Reporting by Costas Pitas in Lo

SpiceJet in provisional deal for 40 Boeing 737 MAX 10 jets

NEW DELHI/PARIS- Indian low-cost carrier SpiceJet signed a provisional deal on Monday to buy 40 of Boeing's newly launched 737 MAX 10 jets, becoming an inaugural customer of an aircraft designed to blunt strong sales of rival planemaker Airbus' A321neo.

The agreement, valued at $4.7 billion at current list prices, includes a new order for 20 planes and a conve

Indian investors ride out big-pharma slump with small-cap drugmakers

By Zeba Siddiqui and Abhirup Roy

MUMBAI  - Investors in Indian pharmaceutical stock, hit by quality-related sanctions against drugmakers operating abroad and reduced pricing power in more profitable markets, have adopted a new mantra: patience and pickiness.

Fund managers said they are becoming increasingly fastidious regarding India's $16 billion d

Sensex ends higher; bank stocks rise

 Indian shares rose on Monday as banking stocks gained on hopes that the Reserve Bank of India's initiative directing lenders to start bankruptcy proceedings against large loan defaulters would help reduce the levels of bad debt hampering credit growth in the country.

The benchmark BSE Sensex rose 0.82 percent and posted a record close of 31,311.57, while the broader NSE Nift

Tata Communications expands Cloud footprint in Europe, ME, Asia Pacific

Tata Communications, a leading provider of network, cloud and security services, on Monday launched three new private cloud nodes in Germany, United Arab Emirates (UAE) and Malaysia, for its IZO Private Cloud service to support enterprises’ hybrid cloud adoption while ensuring regulatory compliance.

The new private cloud nodes would enable CIOs to gain unprecedented control over

Bank of Maharashtra gets approval to raise Rs 2K-cr via equity dilution

Bank of Maharashtra said it has obtained approval of shareholders to raise Rs 2,000 crore through equity dilution. At the annual general meeting (AGM) held today, the resolution was passed for raising of equity capital, the bank said in a regulatory filing.

The money can be raised by follow-on public offer/rights issue/qualified institutional placement/preferential issue etc aggregati

Ramco Systems bags Payroll Software Supplier of the Year award

Ramco Systems, the global HCM and Payroll software provider on Cloud and Mobile has said that it has won the highly recommended Payroll Software Supplier of the Year 2017 award at the Global Payroll Association’s Payroll Awards. “Ramco was awarded for providing innovative, fully integrated Payroll solutions to clients. Presented by the Global Payroll Association,

The Payro

Indian shares rise; banks up as RBI cracks down on bad debt

By Jessica Kuruthukulangara

Indian shares rose on Monday as lenders such as State Bank of India gained after the central bank asked banks to start banktruptcy process against 12 large loan defaulters, raising hopes that reduction of bad debt will start to quicken.

The Reserve Bank of India urged lenders to initiate bankruptcy proceedings against a dozen companies, including