FPI holding: Federal Bank under RBI watch

Reserve Bank will monitor foreign shareholding in Federal Bank so that it does not cross the upper limit of 74 per cent, reported PTI. The board of the company has passed a resolution to hike the limit of foreign investment to up to 74 per cent, RBI said. Earlier, foreign investment in Federal Bank was 49 per cent.

"The increase is subject to regulation 5(2) and 5 (2A) of Foreign

Jubilant Life Sciences cons Qauerterly Result net dips 12% at Rs 143.71 cr

Jubilant Life Sciences said that it has reported a decline of 12.3 per cent in its consolidated net profit at Rs 143.71 crore for the quarter ended June 30, 2017. The company had posted consolidated net profit of Rs 163.92 crore in the same quarter a year ago, the company said in a filing to the Bombay Stock Exchange. Consolidated revenue from operations of the company however rose to Rs 1,596.

Shriram Transport Fin raises Rs 980 cr via private placement

Shriram Transport Finance Company said that it has raised Rs 980 crore on private placement basis. “The allotment committee-NCDs of the company has approved and allotted 9800 secured, redeemable, rated, listed non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 980 crore,” the company said in a filing to the Bombay Stock Exchange. Meanwhile, shares

Jet enhances domestic flight services

Airline major Jet Airways on Tuesday announced that it will introduce 96 new, non-stop weekly flights to emerging cities on the domestic sector during the monsoon season.

"Our new non-stop flights, additional frequencies, as well as direct, one-stop through flights is part of our continuing efforts to provide connectivity, choice and convenience for our guests.

Sensex rises as drugmakers, consumer stocks gain

Indian shares rose on Wednesday, with drugmaker Aurobindo Pharma Ltd up on hopes of higher U.S. sales and consumer staple Hindustan Unilever hitting a record high after its June-quarter profit beat expectations.

The benchmark BSE Sensex rose 0.53 percent at 31,879.09 by 0627 GMT, rebounding after a 1.1 percent fall on Tuesday, its biggest daily percentage fall this year.


UltraTech Cements consolidated Quarterly Result net profit up 15%

Aditya Birla group company UltraTech Cement on Tuesday reported a rise of 15 per cent in its consolidated net profit for the April-June quarter of 2017-18.

According to the company, its net profit rose to Rs 897 crore from Rs. 780 crore reported for the corresponding quarter of last fiscal.

Besides, the company's consolidated net sales rose to Rs 6,938 crore fo

Honda Cars India launches Honda Amaze `Privilege Edition`

 Passenger car manufacturer Honda Cars India (HCIL) on Tuesday introduced the 2017 'Privilege Edition' of its sedan Honda Amaze.

"The Privilege Edition will be available at Rs 648,888 for petrol and Rs 773,631 for diesel (ex-showroom New Delhi)," the company said in a statement.

"The Privilege Edition comes enriched with advanced infotai

India has to find accessible innovative models: Tata chief

 India has to find new innovative models that are accessible in "every nook and corner of the country", Tata Sons Chairman N.Chandrasekaran said on Tuesday.

"Innovation and R&D is not about pure research. We have to find innovative models which are accessible to every nook and corner of the country," Chandrasekaran said at the All India Management Ass

BSE to enhance surveillance on 28 stocks from July 20

Stock exchange major BSE on Tuesday said it will increase surveillance on the stocks of 28 companies with effect from Thursday.

According to the BSE, securities of companies such as ABC Bearings, Lotus Eye Care Hospital, Orient Beverages, Sahara One Media and Entertainment and Shriram Asset Management Co among others will be shifted to group "T/XT".

As pe

Ashok Leyland, SUN Mobility to launch electric buses

Commercial vehicle major Ashok Leyland and SUN Mobility have entered into a strategic alliance to develop electric buses, said officials of the two companies here on Tuesday.

"We have entered into a strategic alliance to develop electric buses with 'swap and charge' battery technology. We have to decide on firming up the agreement into a joint venture," Vinod K.

Dr Reddy`s announces commercialisation of Vozet in India

 Pharma major Dr Reddy's Laboratories on Tuesday announced the commercialisation of Vozet tablets in India, used for the treatment of allergic Rhinitis and chronic Urticaria.

The Vozet tablets contain Levocetirizine 5 mg, and are available in a strip size of 10, the Hyderabad-headquartered company said in a statement.

The anti-histamine market in India had

SoftBanks 20% stake buy in One97 Communications approved: CCI

The Competition Commission of India (CCI) on Tuesday said it has approved Japan-based SoftBank's acquisition of 20 per cent stake in One97 Communications, the firm which owns electronic payment and e-commerce company Paytm.

In a tweet, the CCI said: "@CCI India approves acquisition of 20 per cent stake in One97 Communications Limited by SoftBank Group Corp." 

Nepalis, saddled with banned Indian rupee notes, risk losing savings

KATHMANDU - Nepalis stand to lose millions of dollars held in high-value Indian bank notes that India banned last year and has yet to exchange, a Nepali central bank official said on Tuesday.

Indian Prime Minister Narendra Modi in November banned 500 rupee ($7.77) and 1,000 rupee bank notes as part of a drive against unaccounted wealth in India that has also hit Nepal

One Hundred and Eighty Seventh SME Company to get listed on BSE SME Platform

Mumbai, July 18, 2017: SEBI came out with detailed guidelines on 18th May, 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March, 2012.  

7NR Retail Ltd became 187th company respectively to get listed on the BSE SME Platform on July 18, 2017. 7NR Retail Ltd came out

Governments demand for additional tax premature, Reliance Industries says

NEW DELHI  - The government's demand for additional share in the profits and royalty from the contractors of Panna Mukta and Tapti oil and gas fields is "premature", Reliance Industries said in a statement on Tuesday.

Reliance and Royal Dutch Shell own 30 percent interest each in the fields, off India's west coast, while Oil and Natural Gas Corp

Trade-To-Trade Scrips - Inclusions in "T","XT" or "ST" Group

Mumbai: July 18, 2017: As a part of Surveillance measures and based on the extant SEBI framework, the Exchanges transfer various securities for settlement on a Trade-to-Trade basis. The criteria for shifting securities to/from for settlement on trade to trade basis is decided in consultation with SEBI and applied uniformly across the stock exchanges and reviewed periodically.

Power grid integration to quicken renewables makeover

When the sun shines brightly, it's manna from heaven for a solar producer. But for an electricity distributor, the surge in the power lines can be a nightmare. This unpredictability of solar and wind energy has long been a technical challenge that requires adroit balancing of the power grid.

India is now on the threshold of attaining this balance. The new Greening the Grid report,

Reliance Commercial Finance posts Rs 65 cr net profit

Reliance Commercial Finance Ltd on Tuesday said it closed the first quarter of the current fiscal with a net profit of Rs 65 crore logging a growth of 44 per cent.

In a statement issued here, the company, a subsidiary of Reliance Capital Ltd, said it had earned a total income of Rs 490 crore and a net profit of Rs 65 crore for the quarter ended June 30.

Reliance Commercial F

nubia commits $100 mn investment for manufacturing in India

Best known for its camera-centric smartphones, Chinese manufacturer nubia, which entered India last year, has earmarked $100 million investment in the country over the next few years, a top executive has said.

Since last October, the company has introduced seven smartphones in India that received rave reviews and a decent response from customers.

"We have established ou

Sensex posts biggest fall this year as ITC slumps

The BSE Sensex fell 1.1 percent, posting its biggest daily percentage drop this year and retreating from a record high in the previous session, as ITC Ltd slumped after the government raised a special duty on cigarettes.

The Sensex fell 1.1 percent to 31,710.99, its biggest daily percentage fall since Dec. 2. Meanwhile, the broader NSE Nifty dropped 0.9 percent to 9,827.15, its bigges

Hindustan Unilever quarterly profit rises 9 percent

Consumer goods company Hindustan Unilever Ltd reported a 9 percent rise in quarterly profit, helped by higher sales from its personal care segment.

Profit rose to 12.83 billion rupees ($199.45 million) in its first quarter ended June 30, from 11.74 billion rupees a year earlier, the maker of products ranging from the Lakmé cosmetics to Lipton tea said on Tuesday.


Exclusive: Ahead of privatisation, Air India eyes bumper staff buyout

By Rupam Jain

NEW DELHI - Air India is drawing up a proposal to offer voluntary buyouts to just over a third of its 40,000 employees, two government officials said, in what would be one of the largest such offers in India's state sector, as the airline slashes costs ahead of a 2018 sale.

The state-owned airline has also put fleet expansion on hold, scra

UltraTech Cement June-quarter consolidated profit up 15 percent

UltraTech Cement Ltd reported a 15 percent rise in June-quarter consolidated net profit on Tuesday.

Consolidated net profit rose to 8.98 billion rupees ($139.6 million) in the quarter ended June 30, from 7.80 billion rupees a year earlier, India's largest cement maker by market-capitalisation said in a statement. (http://bit.ly/2tl1yMN)

The results include those of cemen

Delhi hosts 'SME Connect' event on Optimizing IT Infrastructure by Schneider Electric IT Division

New Delhi: July 17, 2017: After Ahmedabad, Mumbai and Chennai, the “5 City SME Connect” event on optimising IT Infrastructure by Schneider Electric was organised in Delhi. Targeted at SME organisations, the highlight of the event was to interpret the SMEs’ technology challenges and mitigate those challenges with a systematic approach.  

The SMEs

Flipkart lifts bid for rival Snapdeal to up to $950 million

MUMBAI - Indian e-commerce player Flipkart has sweetened its buyout offer for smaller rival Snapdeal to between $900 million and $950 million, two people familiar with the negotiations said, adding that the new proposal is being evaluated by the company's board.

Reuters previously reported that Snapdeal had earlier this month rejected Flipkart's initial bid of