India government favours petcoke import ban, U.S. would be biggest loser

By Sudarshan Varadhan

NEW DELHI - India's government is in favour of banning imports of petroleum coke to curb air pollution, according to a government affidavit filed with its top court, which could be a big blow to U.S. refiners who export heavily to the country.

The Supreme Court, which in October banned the use of petroleum coke in and around New Del

Infosys severance pay plea: `It`s a matter of legality for SEBI, not emotions`

Former Infosys Chief Financial Officer V Balakrishnan today said it was not a matter of whistleblower's emotions, but of legality for Sebi to decide on denying company's consent plea in connection with ex-CFO Rajiv Bansal's severance payment case, reported PTI. "The whistleblower has said whatever he wants to say as per his viewpoint.. These are legal issues decided based on me

Asian Oilfield Services gets order from Oil India

Asian Oilfield Services said that it has received a contract worth Rs 69 crores from Oil India Limited. “Asian Oilfield Services Limited received letter of Award of Contract from Oil India Limited for a period of Twelve (12) Months at an estimated contract cost of INR 69,01,70,000/- (Indian Rupees Sixty Nine Crores One Lakh Seventy Thousand only),” the company said in a filing to th

Passenger vehicle sales rise 14.29% in November; car sales up

Domestic passenger vehicle sales rose 14.29 per cent to 2,75,417 units in November from 2,40,983 units in the same month last year, reported PTI. Domestic car sales were up 4.49 per cent to 1,81,395 units as against 1,73,607 units in November last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month rose 23.25 per cent to 9,59,12

Tata Motors to hike prices of passenger vehicles

Tata Motors on Monday said it will increase prices of its entire passenger vehicle range by up to Rs 25,000, starting from January, due to rising input costs.

"The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase," said Mayank Pareek, President, Passenger Vehicle Business, Tata Motors.

Nifty, Sensex gain; banks lead

By Arnab Paul

Indian shares rose on Monday, tracking Asian peers that climbed on positive U.S. payrolls and Chinese trade data, with investors continuing to bet on a possible win for the country's ruling party in a key state election.

Markets are hoping for a big success by Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in assembly elections in Gujara

Air India starts Bhubaneswar to Bangkok flight

Bhubaneswar: The maiden direct flight of Air India from Bhubaneswar to Bangkok was flagged off by Odisha Chief Minister Naveen Patnaik from the Biju Patnaik International Airport (BPIA) here from Sunday.

The flight will be operated on every Thursday and Sunday.

Describing this as a historic moment, Patnaik said he hoped it will further strengt

Airtel to connect 2,100 uncovered villages in northeast

New Delhi:  Telecom major Airtel on Sunday said it will provide mobile connectivity in 2,100 uncovered villages and national highways in the northeastern states over the coming 18 months.

This work is to be undertaken under an agreement with the Department of Telecom (DoT), a company release said here.

"Bharti Airtel has signed an ag

Macro-data, parliament session to steer equity indices

Upcoming macro-economic data points, coupled with the commencement of parliament's winter session and global cues, especially crude oil prices, are expected to determine the trajectory of the key equity indices in the coming week.

According to market observers, other factors like the expectations on the outcome of the Gujarat assembly elections, along with the direction of foreign

Indiabulls Housing Finance sells lndiabulls Life Insurance

 Indiabulls Housing Finance on Saturday said that it has sold 100 per cent of its shareholding in "lndiabulls Life Insurance Company Limited".

According to a BSE filing, it sold the non-operational company with "no business or license", to SORIL Holdings and Ventures Limited ("SHVL"), at face value for an aggregate cash consideration of Rs 5 lakh.&nb

Equity indices recoup amid strong global cues, bargain hunting

 Robust buying during the last two sessions of the trading week amid strong cues from the global markets and persistent pumping in of funds by domestic institutional investors (DIIs) lifted the key domestic equity indices from their previous week's lows.

Market observers said the upward rally was also fuelled by positive hopes of the ruling BJP's win in the crucial two-ph

Air India seeks Rs 1,500 cr short-term loans

National passenger carrier Air India has invited bids from banks for Rs 1,500-crore government guarantee-backed "Short Term Loans (STLs)".

The airline has called for financial bids by December 12.

"Air India is looking for Government Guarantee backed INR STLs totalling to Rs 1,500 crore to meet its urgent working capital requirements," the airli

IndiGo to launch Tirupati-Hyderabad flights from next month

Leading low-cost carrier, IndiGo on Friday announced that it is adding Tirupati on its network from January 7 with daily flights to Hyderabad and Bengaluru.

Tirupati will be connected by three daily non-stop flights to Hyderabad and double daily non-stop flights to Bengaluru, the airline said in a statement.

Apart from this, Tirupati will also be connected to many new cities

Tata Steel receives PM`s Trophy for best steel plant

Tata Steel Ltd has been awarded the Prime Minister's Trophy for 'Best integrated steel plant' for 2014-15 and 2015-16.

This is the third time in a row that the award has been given to Tata Steel.

Vice President M. Venkaiah Naidu on Friday presented the award to Anand Sen, President, TQM & Steel Business, Tata Steel and R Rabi Prasad, President, Tata Workers&#

Axis Bank reappoints Shikha Sharma as MD & CEO for 3 yrs

Private sector lender Axis Bank on Friday said that its board has reappointed Shikha Sharma as the Managing Director & CEO of the bank for a period of 3 years, w.e.f. 1st June 2018. “The Board of Directors at its meeting held on 7th December 2017, has approved the terms and conditions relating to the said re-appointment, including remuneration, in terms of the relevant provision of th

Court says government can take control of Unitech

NEW DELHI- An Indian court on Friday allowed the government to take over management control of the debt-laden property developer Unitech Ltd, a rare intervention that the government said was to protect the public interest.

A government lawyer said it wanted to prevent Unitech becoming insolvent and protect 19,000 home buyers who have yet to be handed apartments they h

Equity indices surge on global cues, value buying

Extending gains for the second consecutive session, key Indian equity indices on Friday surged to provisionally close on a higher note as positive global cues and value buying in banking, consumer durables and auto stocks gave a boost to investors' sentiments.

Top gainers on the BSE market breadth were ITC, Tata Motors, Sun Pharma, Cipla and Hindustan Unilever.

The wider

Jayshree Tea Q2 net profit up 9.50% at Rs 25.58 cr

The company reported standalone net profit of Rs 25.58 crore for the quarter ended September 30, 2017 as compared to Rs 23.36 crore in the same period last year, registering a year-on-year growth of 9.50 per cent. Net revenue of the company rose marginally by 3.31 per cent at Rs 158.39 crore in July-September quarter of this fiscal as against Rs 153.31 crore in the corresponding period last yea

ICICI Bank mops up $500 mn in overseas bond sale

The largest private sector lender ICICI Bank has sold a benchmark bond issue at a coupon of 3.833 per cent to overseas investors. The USD 500-million ten-year dollar money was issued through the Dubai branch of ICICI Bank, an official at Citigroup India, which was the sole advisor to the deal, told PTI today.

The bank has initially given a price guidance of 170 bps over the US treasur

Tata Motors global sales up 22% in November

Tata Motors today reported 22 per cent increase in its total global sales at 1,12,473 units for November. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in November 2017 were at 40,845 units, an increase of 51 per cent over the same month last year, the company said in a statement. In the passenger vehicles segment, total sales grew by 10 per cent at 71,628

Ruchi Soya scales up soyabean crushing operations

Ruchi Soya said that it is eyeing improved capacity utilisation benefits after the positive announcements in the mid term review of the Export Policy. The increase in export incentives for Agriculture and related products along with the 2 per cent additional incentives under MEIS scheme for soyameal will help Ruchi Soya's oilseed extraction business with an increase in capacity utilisation

Capital First panel clears raising Rs 400 cr via NCDs

Non-banking finance firm Capital First today said its debenture committee has approved a proposal to raise up to Rs 400 crore through issuance of non- convertible debentures (NCDs) on private placement basis. "The debenture committee...has inter-alia approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 100 crore plus green shoe option of Rs 300 crore on

Cadila Healthcare bags approval for Clozapine Tablets

Cadila Healthcare Ltd has said that its arm Zydus Pharmaceuticals (USA) Inc. has received the final approval from the USFDA to market Clozapine Tablets in strengths of 25 mg, 50 mg, 100 mg and 200 mg. “The drug is used to treat schizophrenia. It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad,” the company said in a filing to the Bombay

Moody`s assigns Baa3 to ICICI Bank`s USD note drawdown

Moody's Investors Service, a global rating agency, has assigned a Baa3 rating to ICICI Bank Limited's proposed USD denominated senior unsecured notes, issued under its USD 7.5 billion Global Medium Term Note (GMTN) program. “The drawdown will be carried out from its Dubai branch, and the bonds will be listed on the Singapore Exchange Securities Trading Limited (SGX-ST),” sai

Glenmark Pharma conducts Phase 1 trial of GBR 1342

Glenmark Pharmaceuticals, a global pharmaceutical company has said that the first patient has been dosed in a Phase 1 trial of GBR 1342 (NCT03309111), an investigational bispecific antibody. This first-in-human, open-label study’s primary objective is to assess the safety and tolerability of increasing doses of GBR 1342 in multiple myeloma patients until a maximum tolerated dose is reache