HPCL gets green nod for Rs 230 cr RBPL expansion proj

State-owned fuel retailer Hindustan Petroleum has received environment clearance for expansion of Ramanmandi Bahadurgarh Petroleum Products Pipeline (RBPL), whose project cost is Rs 230 crore.

Hindustan Petroleum Corp Ltd (HPCL) operates a 243 km long cross-country pipeline RBPL for transportation of various petroleum products. Its existing capacity is 4.71 million tonnes per annum an

Cipla`s arm inks pact to sell 99% stake in AJDMA

Pharma major, Cipla Ltd said that its subsidiary Saba Investment has entered into an agreement to sell its entire 99 per cent equity stake in Al Jabal for Drugs and Medical Appliances Company, Yemen (AJDMA) to Khalil Ghaleb Ali Al-Jabal.

The company has entered into an agreement for sale on June 7, 2017 and the transaction is expected to be closed within 35 days from Effective Date, t

MCL records 9% growth in profit in 2016-17

 Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited (CIL), has registered about nine per cent growth in profit before tax (PBT) at a record Rs 6,853.32 crore in financial year 2016-17, as against Rs 6,283.44 crore during the previous fiscal.

Despite several operational hindrances, the company witnessed growth in almost all the fields of operations, MCL Cha

India`s Infosys denies promoters selling stake in company

MUMBAI- Infosys Ltd denied a media report on Friday that the founders of India's second-biggest software services exporter were looking to sell their entire 12.75 percent stake in the company.

The Times of India newspaper had reported the founders were exploring such a sale, citing people familiar with the developm

Sensex falls; Infosys, UK election results weigh

By Tanvi Mehta

 Indian shares fell on Friday, with Infosys dragging benchmark indexes lower following a report its founders were preparing to exit the IT bellwether, while the prospects of a hung parliament in the UK also hurt sentiment.

Infosys was trading 1.62 percent lower, after falling as mu

Coal India to shut 37 mines this fiscal year - sources

NEW DELHI - Coal India Ltd plans to shut 37 underground mines by the end of this fiscal year, two company officials said, despite unions' plans to strike for three days this month if the decision is not withdrawn.

The coal workers unions, which say they represent more than 400,000 employees of Coal India and closely-held Singareni Collieries Ltd, last month c

Sensex edges lower ahead of ECB meeting, UK polls

Indian shares edged lower on Thursday tracking Asian peers as investors await the outcome of a slew of global events, including the European Central Bank's policy meeting and U.K. elections later in the day.

The benchmark BSE Sensex closed down 0.19 percent at 31,213.36.

The broader NSE Nifty ended 0.17 percent lower at 9,647.25.

 

(Reporting by

IOC sets extensive maintenance shutdown plans for units

NEW DELHI - Indian Oil Corp has lined up an extensive maintenance turnaround plan for its refineries in 2017, sources with knowledge of the plan said, which could force the country's top refiner to tap overseas markets for gasoline and diesel to meet rising local demand.

IOC plans to shut a 150,000 barrel per day (bpd) crude unit at its 300,000 bpd Panipat refiner

Bodhtree Consulting inks partnership with Infosys

IT consulting and software service provider Bodhtree Consulting Limited today announced it has entered into a strategic partnership with Infosys as an application service provider (ASP) wherein the clients of the Bengaluru-headquartered company will have an option to utilise GSP platform of the former for their GST filings.

"The size of the project could be over Rs 200 crore and

Jet Airways signs MoU with Aeromexico for codeshare flights

Naresh Goyal-promoted private carrier Jet Airways today said it has partnered with Mexican flag carrier Aeromexico for codeshare flights and frequent flyers programme. The two airlines have signed a memorandum of understanding (MoU) to give effect to the partnership, Jet Airways said in a release.

The MoU, signed by Jet Airways Chairman Naresh Goyal and Aeromexico Chief Executive Offi

GMR Airports to develop Kastelli airport in Greece

GMR Airports on Wednesday said that it has been selected to develop, operate and manage the new international airport of Kastelli on Crete Island, Greece. The company is a subsidiary of GMR Infrastructure.

According to the firm, it has bagged the project in partnership with Greek infrastructure major TERNA S.A. 

"GMR Airports will be the designated airpor

Reliance Nippon Life Asset Management to be listed in bourses

The board of Reliance Nippon Life Asset Management Ltd (RNAM) has given its approval to list the company's equity shares on the bourses, the company said on Wednesday.

In a statement issued here, RNAM said its board of directors have given their nod to list the company's equity shares on the stock exchanges subject to necessary regulatory and corporate approvals.
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Sensex flat tracking global cues ahead of ECB meet

By Tanvi Mehta

 Indian shares traded flat on Thursday tracking Asian peers ahead of a slew of global events including the European Central Bank's policy meeting, U.K. elections and congressional testimony from ex-FBI director James Comey.

But banking shares such as HDFC Bank  gained, aft

Amazon lent $1 billion to merchants to boost sales on its marketplace

By Jeffrey Dastin

 Amazon.com Inc has stepped up lending to third-party sellers on its site who are looking to grow their business, a company executive said in an interview on Wednesday.

The e-commerce giant has doled out more than $1 billion in small loans to sellers in the past 12 months, compared with more than $1.5 billion it lent from 2011 through 2015, said Peeyus

Samsung to double mobile phone capacity at main Indian factory

MUMBAI - Samsung Electronics plans to double the production capacity for mobile phones and fridges at its main factory in India, expanding in a country where U.S. rival Apple Inc. has started assembling phones.

The South Korean company said in a statement on Wednesday it would spend 49 billion rupees ($764 million) over three years to expand the factory on an addition

Sensex ends higher; RBI keeps key interest rate unchanged

Indian shares ended higher on Wednesday, after the central bank kept its key interest rate unchanged and global investors remained noticeably risk-averse.

The benchmark BSE Sensex closed up 0.26 percent at 31,271.28.

The broader NSE Nifty ended 0.28 percent higher at 9,663.90, a day after it breached the 9,700 level for the first time.

(Reporting by Tanvi Mehta in

SEBI gets cabinet nod to sign MoU with European counterpart

The union cabinet on Wednesday accorded approval to a SEBI proposal to enter into an agreement of mutual cooperation with the European Securities and Markets Authority (ESMA).

"The Cabinet has given its approval to the Sebi for entering into a Memorandum of Understanding (MoU) with ESMA in relation to mutual cooperation," the Finance Ministry later said in a statement.

Cabinet approves MoU with S. Korea for $9 bn export credit

The Cabinet on Wednesday approved the proposed Memorandum of Understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of South Korea (KEXIM) for export credit of $9 billion for infrastructural development in India and for the supply of goods and services as part of projects in third countries.

The MoU is proposed to be signed between the two banks dur

RBI keeps key interest rate unchanged, cuts inflation projections

By Suvashree Choudhury and Swati Bhat

MUMBAI - The Reserve Bank of India (RBI) lowered inflation projections and delivered a slightly less hawkish policy statement on Wednesday, as it left key interest rates unchanged while waiting to be more sure that inflation will stay subdued.

The change in tone was enough for some analysts to see a possibility of a

Farmers in Madhya Pradesh step up strike after six die in firing

By Rajendra Jadhav

MUMBAI - Farmers on Wednesday stepped up their agitation in Madhya Pradesh after six were shot dead in clashes the previous day, forcing the authorities to impose a curfew in some areas.

The outburst of discontent in India's heartland farming states of Madhya Pradesh and neighbouring Maharashtra poses a challenge for Prime Ministe

India approves plan for IREDA initial share sale - Government source

NEW DELHI - The cabinet approved a plan on Wednesday to publicly list state-owned Indian Renewable Energy Development Agency (IREDA) to fund its ambitious renewable energy development programmes.

India, one of the world's largest greenhouse gas emitters, targets to raise its renewable energy generating capacity to 175 GW by 2022, and has reinforced its commit

GMR Infrastructure arm to develop new international airport in Greece

GMR Infrastructure Ltd has said that its subsidiary GMR Airports Limited has been selected to Develop, Operate and Manage the New International Airport of Heraklion at Crete in partnership with Greek infrastructure major TERNA S.A. (100% subsidiary of GEK TERNA Group). “GMR Airports Limited will be the designated Airport Operator in the consortium for this project.

Greece is a m

India looking to extend UDAN scheme to Bimstec countries

In a bid to boost its engagement with Bimstec, India is looking to expand the UDAN scheme of its aviation policy to countries of this regional bloc, Minister of State for Civil Aviation Jayant Sinha said on Tuesday.

"What the government of India would like to see is that we can take the policy design behind UDAN (Ude Desh ka Aam Naagrik or 'common people of the country can fl