Indian equities open on a positive note

By Samantha Kareen Nair

Indian shares rose on Monday led by a rally in Ambuja Cements  and ACC Ltd  after the companies said they were exploring a merger, while lenders extended gains after the government further empowered the central bank to tackle bad debts in the sector.

Sentiment was also boosted by a rise in Asian stocks on investor relief after centrist Emman

Under Urjit Patel, RBI zooms in on 4 percent inflation target

By Suvashree Choudhury

MUMBAI   Under Governor Urjit Patel, the Reserve Bank of India (RBI) will target inflation of 4 percent, three officials familiar with its thinking said, adopting a narrower reading of its mandate than markets in a bid to stamp out rampant price rises of the past.

The differing interpretations of amendments to last year's

Macro data, global cues to chart equity markets' course

Key macro-economic data points coupled with ongoing fourth quarter results and global cues are expected to affect the course of Indian equity markets during the upcoming trade week, analysts said.

"In the near-term, investors will follow global markets' sentiment and quarterly results," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls Securities.

Shareholders to elect four independent directors of SBI on June 15

The country's largest lender SBI has invited applications for appointment of four independent directors to its central board who will be elected by the public shareholders on June 15.

The election has been necessitated after the resignation of Sunil Mehta and the expiry of the three-year-term of the three other directors -- Deepak Amin, Sanjiv Malhotra and MD Mallya, the bank said

Coal India to engage tax consultant to get ready for GST

Coal India, the largest coal producer in the world, is engaging a tax consultant to assist the miner and its subsidiaries in getting ready for the Goods and Services Tax (GST) and indirect taxes for the miner.

It has floated a tender to appoint a tax consultant.

"Coal India Limited intends to engage tax consultant for CIL and its direct subsidiaries (i.e. excl

Japan's SoftBank takes driving seat in Indian online shake-up

By Sankalp Phartiyal

MUMBAI - After ploughing about $2 billion into minority stakes in Indian e-commerce businesses over the past few years, Japan's SoftBank is upping the stakes, looking to play consolidator and take a more active role at a trio of leading start-ups.

According to sources with direct knowledge of the matter, the solar-to-tech conglomerat

Exclusive - India`s green car plan prioritises electric vehicles over hybrids

By Aditi Shah

NEW DELHI - India's most influential government think-tank has recommended lowering taxes and interest rates for loans on electric vehicles, while capping sales of conventional cars, signalling a dramatic shift in policy in one of the world's fastest growing auto markets.

A draft of the 90-page blueprint, seen by Reuters, also suggests

Equities turn bearish on profit booking, Nifty scales new highs

 Indian equity markets slid into the bearish zone as investors booked profits after a week of substantial gains. Despite that, a key index made record highs during the truncated trade week ended May 5.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) scaled a new closing high of 9,359.90 points on May 4 and an intra-day high of 9,374.55 on May 5. 

India names new bosses for seven state-run banks

MUMBAI  - India named new chief executives for seven state-run banks on Friday, at a time when regulators are trying to clean up record bad loans in the sector.

The new appointments coincide with the government's efforts to try to tackle the banking industry's $150 billion of bad loans, the bulk of which is on the books of state-run banks.

The b

Change in law aimed at speeding up bank bad loan resolution: Arun Jaitley

NEW DELHI  - Indian government's decision for change in the country's banking laws is aimed at speeding up resolution of bad loans and providing comfort to bankers in taking decisions, Finance Minister Arun Jaitley said on Friday.

The government earlier on Friday notified tweaks in the Banking Regulation Act through an executive order, further empowering

India Cements Capital to surrender NBFC registration

India Cements Capital Ltd, part of India Cements group, today said it will surrender its registration for non-banking finance company to banking regulator RBI. The board at its meeting held today "has considered and decided to surrender the certificate of registration as 'non- banking finance company' without accepting public deposits to the Reserve Bank of India", the company

BHEL solar energy portfolio crosses 370 MW mark

State-run power equipment maker BHEL today said its solar energy portfolio crossed the 370 MW mark in 2016-17. BHEL ended 2016-17 with a significant solar PV portfolio of 370 MW, comprising 360 MW ground-mounted power plants and 10 MW rooftop power plants, a company statement said. According to the statement, out of 370 MW, 170 MW of BHEL-supplied ground-mounted and 2,290 KW of rooftop power pl

Cognizant profit narrowly beats estimates

By Rishika Sadam

 Cognizant Technology Solutions Corp reported a higher-than-expected quarterly profit and said it would beef up hiring in the United States, a move that comes amid U.S. President Donald Trump's tough stance on the H1-B visa rules.

Cognizant gets more than 75 percent of its revenue from North America and relies heavily on workers on H1-B visas to pro

Profit booking drags equity markets lower

Profit booking along with a weak rupee dragged the key Indian equity indices lower on Friday.

According to market observers, selling pressure was witnessed in the metal, auto, oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 84.25 points or 0.90 per cent to provisionally close the day's trade at 9,275.65 points.

Howe

IndusInd Bank inaugurates new branch in Jaipur

Private-sector lender, IndusInd Bank said that it has inaugurated its 18th branch in Jaipur, the ‘Pink City of India’. The new branch is located at Ground floor, Shop no 1 & 2, Residency Royale, Sardar Patel Marg, C-Scheme, Jaipur, the Bank said in a filing to the Bombay Stock Exchange. With the inauguration of this branch, the bank now has 94 branches in the state of Rajasthan,

Trident issues commercial paper for Rs 500 mn

Trident, an exporter of Home Textile products said that it has issued Commercial Paper for an aggregate amount of Rs 500 million on May 5, 2017. The commercial paper having a tenure of 90 days will mature on August 3, 2017, the company said in a filing to the Bombay Stock Exchange.

The CP have been rated ‘A1+’ by the leading rating agency, India Ratings & Research, it

India tweaks rules to help resolve banks' $150 billion bad debt problem

By Rajesh Kumar Singh and Devidutta Tripathy

NEW DELHI/MUMBAI  - India on Friday tweaked its laws to help tackle a record $150 billion in troubled bank debts, giving the Reserve Bank of India (RBI) greater power to identify and enforce resolution on specific soured loans.

In an executive order that alters a Banking Regulation Act, the government authori

India plans no-fly list of unruly passengers - aviation secretary

NEW DELHI  - India is looking at creating a national no-fly list of unruly passengers, the top bureaucrat at the civil aviation ministry said on Friday, weeks after a lawmaker admitted assaulting an official from state-owned carrier Air India.

The list will be maintained by the country's civil aviation regulator, Civil Aviation Secretary R.N. Choubey said.

President gives nod to ordinance on banks' non-performing assets - reports

MUMBAI  - President Pranab Mukherjee has given his nod to the ordinance dealing with the banking sector's non-performing loans and the amendment to the Banking Act, television channels reported on Friday.

Spokesman for the President and the country's finance minister Arun Jaitley declined to comment on the ordinance.

Finance Minister Arun Jaitle

Key Indian equity indices trade lower during early session

Key Indian equity market indices opened in the red on Friday following global cues.

The 30-scrip Sensitive Index (Sensex) was trading 100.46 points or 0.33 per cent lower during the early session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 24.90 points or 0.27 per cent lower at 9,335 points.

The BSE Sensex, which opened at 30,142

PTC India signs agreements with state discoms for wind power

PTC India Limited, a power trading company, on Thursday signed Memorandums of Agreement (MoAs) with discoms of six states for the sale of 1,000 megawatt wind power under the Ministry of New and Renewable Energys (MNRE) first wind auction scheme.

The agreements with discoms of Uttar Pradesh, Bihar, Jharkhand, Delhi, Odisha and Assam were signed during a two-day conference of ministers

Exide Industries net profit down close to 6% in Q4

Battery major Exide Industries on Thursday reported close to 6 per cent year-on-year (y-o-y) fall in its net profit to Rs 164.78 crore for the quarter ended March 31, from Rs 175.21 crore for the corresponding period a year ago.

During the quarter under review, its gross sales, however, increased over 11 per cent y-o-y at Rs 2,213.32 crore, as compared to Rs 1,991.67 crore, the compan

Coal India considering listing on London Stock Exchange

By Neha Dasgupta and Sudarshan Varadhan

NEW DELHI  - Coal India Ltd, the world's largest coal miner, is considering a listing on the LSE and has had early discussions with the LSE, three sources with direct knowledge of the matter said on Thursday.

A listing by the state-controlled miner would be a boost for the LSE as it looks to attract companies

Infosys plays down cost concerns from U.S. hiring plan

By Sankalp Phartiyal and Euan Rocha

MUMBAI  - Infosys played down concerns about cost pressures from a plan to hire 10,000 U.S. workers and boost its on-the-ground U.S. presence, saying it will enable faster deployment of staff in newer, more profitable projects in areas like big data and cloud.

The India-based IT services firm this week said it plans t

Tata Capital invests $4 mn in Brinton Pharma

Leading drug-maker Brinton Pharmaceuticals Ltd on Thursday said Tata Capital Healthcare fund has invested four million dollars (Rs 25.7 crore) for a minority equity stake in the company.

"The investment will support our entry into newer areas such as pediatric and gynaecology segments and expand international operations to 32 countries from eight presently," said the company