Business

Gold weakens; silver moves up

NEW DELHI, Jan 21, (PTI), EXTENDING yesterday’s slide, gold prices drifted lower by Rs 55 to Rs 29,575 per 10 grams at the bullion market here on Saturday, as slack demand from local jewellers continued despite the metal strengthening overseas...

UtraTech Cement’s Q3 net profit rises to Rs 594 crore

NEW DELHI, Jan 21, (PTI), ULTRATECH Cement on Saturday reported a 4.7 per cent rise in consolidated net profit at Rs 593.9 crore for the quarter ended Dec 31, on lower expenses. The Aditya Birla Group firm’s consolidated net profit stood at Rs ..

AXIS BANK

AXIS Bank’s (AXSB) PAT of INR5.8b significantly missed our estimate of INR6.8b. Strong trading gains of INR15b led to a 9% beat on PPoP (+16% YoY). However, a sharp rise in provisions (+5% QoQ; annualized credit costs of ~3.6%) led to a significan..

L&T Tech Q3 net profit dips 17% to Rs 108.7 cr

NEW DELHI, Jan 21, (PTI), L&T Technology Services on Saturday posted nearly 17 per cent drop in consolidated net profit to Rs 108.7 crore for the December quarter of the current fiscal. The net profit stood at Rs 130.8 crore in the year-ago perio..

SBI raises 5,681 cr by issuing pref shares to Govt

NEW DELHI, Jan 20, (PTI) STATE Bank of India (SBI) on Friday raised Rs 5,680.99 crore by issuing preferential shares to the government. The Committee of Directors for Capital Raising of SBI accorded approval to allot 21.07 crore equity shares on pref..

Future Consumer forms JV with Tilda Hain India

NEW DELHI, Jan 20, (PTI), THE Kishore Biyani-led Future Consumer has forged a joint venture with Tilda Hain India Pvt, part of US’ Hain Celestial Group Inc, to manufacture and sell food products in the health and wellness space in India. &ldqu..

Forex reserves up $687.9 mn at $359.842 bn

MUMBAI, Jan 20, (PTI) THE country’s foreign exchange reserves rose by USD 687.9 million to USD 359.842 billion in the week to January 13 helped by increase in the foreign currency assets, the Reserve Bank said on Friday. In the previous week, f..

China’s economy slows to 6.7%, its lowest in 26 yrs

BEIJING, Jan 20, (PTI), CHINA’S GDP growth last year tanked to its lowest level in more than a quarter century at 6.7 per cent, amid a scandal that a key province in the world’s second-largest economy fudged data for years and concerns ov..

Samsung launches Galaxy C9 Pro

Business Bureau, SAMSUNG India launch its all new smartphone powerhouse, the Galaxy C9 Pro. The Galaxy C9 Pro was unveiled by Bollywood actress Sagarika Ghatke of ‘Chak de India’ fame in the presence of Sandeep Singh Arora, Vice-President, ..

Shrikant Electronics opens new showroom on Subhash Road

Business Bureau, SHRIKANT Electronics, one of the most reputed and trusted names in the field of electronics appliances has opened its new showroom opposite Jhulelal Temple, near Datta Temple, Subhash Road. The showroom was inaugurated by MLC Anil Sole..

‘Bank employees deserve credit for smooth roll-out of demonetisation’

Business Bureau, THE patience exhibited by the bank employees despite tremendous pressure of work during demonetisation period was worth appreciating. They deserve credit for smooth roll out of demonetisation due to relentless efforts put in by them. T..

‘Survey results will enable Govt to formulate policies’

Business Bureau, A TWO-DAY training conference on ‘Data Processing of NSS 74th Round for Service Sector Enterprises’ was organised recently Nagpur for the officers and technical staff of Data Processing Centre, National Sample Survey Office..

Ford’s new EcoSport edition hits roads

NEW DELHI, Jan 19, (PTI), FORD India on Thursday launched an upgraded edition of its popular compact SUV EcoSport priced at Rs 10.39 lakh and Rs 10.69 lakh (ex-showroom Delhi). The new EcoSport ‘Platinum Edition’ will be sold with a two e..

Bajaj launches 2 new KTM variants

PUNE, Jan 19, (PTI), To open 125 more exclusive outlets next fiscal BAJAJ Auto, which owns 49 per cent in the Austrian sport bikes brand KTM and has marketing and production rights of the same here, on Thursday rolled out the new variants of the KTM..

Tanishq offers discount on diamond-studded jewellery

Business Bureau, TANISHQ, India’s largest and most loved jewellery brand, has announced exciting offers on its wide range of studded diamond jewellery across all its collections. This was stated by Rahul Kale, Franchise while talking to the media..

Vivekanand Society donates Rs 1.25 lakh to Uttar Purvanchal Janjati Seva Samiti

Business Bureau, VIVEKANAND Nagri Sahakari Pratyay Sanstha, donated a cheque of Rs 1.25 lakh to Uttar Purvanchal Janjati Seva Samiti. The amount was given for providing educational facilities to students of Assam and Arunachal Pradesh. At a small funct..

Lotus offers range of electronic products

Business Bureau, LOTUS electronics showroom established in the year 2000 in the city has expanded rapidly to six cities with 11 showrooms. Lotus is not only in Indore but has presence in central India as a leading electronics showroom. From inception L..

National Entrepreneurship Day celebrated at VIA

Business Bureau, On the eve of National Entrepreneurs Day, Entrepreneur Forum of Vidarbha Industries Association (VIA) organised a celebration on January 16, at VIA auditorium, in order to support Prime Minister’s vision of Startup India and Stan..

Reliance Jio to foray into automobile telematics this year

NEW DELHI, Jan 18, (PTI), BILLIONAIRE Mukesh Ambani’s telecom venture Reliance Jio Infocomm is planning to foray into automobile telematics with the launch of a device that will control vehicle’s movement and alert owner about fuel and ba..

Gold, silver extend gains on global cues, jewellers’ buying

MUMBAI, Jan 18, (PTI), AMID firm global cues and increased buying by jewellers at the bullion market, gold maintained its upward trend for the third day on Wednesday, climbing another Rs 50 to Rs 29,700 per 10 gram at the bullion market. Silver, too..

Portfolio investment via PN route drops to 8%

KOLKATA, Jan 17, (PTI), MARKETS regulator Sebi on Tuesday said foreign portfolio investment through participatory notes had plunged to just 8 per cent after it introduced greater disclosure norms. Over 50 per cent of the foreign portfolio investment..

Price war: Voda packs upto four times more data for 4G users

NEW DELHI, Jan 17, (PTI), THE data tariff war shows no signs of let up, with telecom service provider Vodafone on Tuesday announcing upto four times more data for 4G customers buying 1 GB and 10 GB packs. Customers buying 1 GB and 10 GB 4G data packs..

Nissan launches new Sunny; price starts at Rs 7.91 lakh

NEW DELHI, Jan 17, (PTI), JAPANESE auto major Nissan on Tuesday launched the new version of its mid-sized sedan Sunny in India with price starting from Rs 7.91 lakh (ex-showroom Delhi).“Nissan India is constantly listening to the voice of our c..

Bankers say BSE IPO pricing ‘fair’

MUMBAI, Jan 17, (PTI), PREMIER stock exchange BSE’s IPO pricing is “fair” and is based on robust feed back from institutional investors, according to investment bankers. Asia’s oldest bourse has fixed the price band at Rs 805-..

Young taxmen should come out with new ideas: Mor

Business Bureau, IIN ORDER to discuss, debate and deliberate, an initiative by the trainee officers of the National Academy of Direct Taxes (NADT) was launched on Monday. The platform ‘Manthan 2017’, which aims to generate intellectual capi..

Offers at Ketan, Eros Hyundai showrooms

Business Bureau, Just because one year has ended with the arrival of another, there is no need to give up on one dream to make space for another. You may have missed one chance to buy your dream car, but there is still a dream chance waiting to grab at..

‘City needs pvt bus depot, better cement roads’

Business Bureau, TAKING various issues to make Nagpur city further smart and in order to keep city’s roads more safe, a delegation of Vidarbha Taxpayers Association (VTA) led by its President J P Sharma met Municipal Commissioner Shravan Hardikar..

Admissions from Nursery to Grade VI open at GPIS

Business Bureau, Gaikwad-Patil International School (GPIS) is an initiative by Gaikwad-Patil Group of Institutions with an intention to develop students to be individuals with character, vision and resourcefulness. The beautiful campus near Jamtha Stad..

Rising petrol, diesel prices push WPI inflation to 3.39 per cent

NEW DELHI, Jan 16, (PTI), RISING prices of petrol and diesel fuelled WPI inflation to 3.39 per cent in December 2016, reversing the declining trend and neutralising the impact of softening prices of vegetables. Also, hardening prices of manufactured ..

Central & SBI Card launch premium co-branded card

MUMBAI, Jan 16, (PTI), AMID a rise in cashless transactions since demonetisation, Future Group’s fashion and lifestyle departmental store Central and SBI Card on Monday announced the launch of a co-branded credit card, to offer benefits to cons..

Sensex, Nifty log first fall in 4 days

NEW DELHI, Jan 13, (PTI), IN A highly volatile session, Sensex on Friday ended marginally lower at 27,238 and Nifty at 8,400, breaking their three-session winning spree, after a plunge in market heavyweights TCS and Infosys, but positive macroeconomi..

Hero MotoCorp forays into Argentina

BUENOS AIRES/NEW DELHI, Jan 13, (PTI), INDIA’S two-wheeler major Hero MotoCorp on Friday forayed into the Argentinian market with the global launch of its 125cc bike ‘New Glamour’ as part of its aggressive global expansion plans. T..

Infosys Q3 net up 7% at Rs 3,708 cr

BENGALURU, Jan 13, (PTI), INFOSYS, India’s second biggest software services firm, on Friday reported a better-than-expected 7 per cent rise in the third quarter profit even as it slightly lowered the revenue guidance for the entire fiscal. At R..

‘Make in India’ Kwid completes 18,996 km drive from Delhi to Paris

MUMBAI, Jan 13, RENAULT India, one of the fastest growing automotive brands in India, delivered its commitment of revolutionising the entry car segment in India with the Renault Kwid. This attractive, innovative and affordable car is a true game-chan..

AIBOC seeks industry level wage settlement for all scales

Business Bureau, The five-yearly exercise of wage revision through bipartite discussions, due on November 1, 2017 has not been started despite clear directions of the Ministry of Finance and its three reminders. Though the Ministry had given directions..

Comp-Ex’25 to be inaugurated today

Business Bureau, THE wait is finally over. The much awaited Central India’s largest IT and mobile expo, Comp-Ex’25 will be inaugurated today at 6 pm at the hands of chief guest Brijesh Dixit, Chairman and Managing Director, Nagpur Metro Rai..

New Suzuki Access 125 bags CNBC-TV 18 ‘Viewers Choice Scooter 2017’ award

Business Bureau, ALL new Suzuki Access 125 was recently awarded the prestigious CNBC-TV 18 ‘Viewers choice scooter of the year 2017’ award. The scooter is one of the most popular two-wheeler in its segment and is getting very good response...

JLR launches petrol Range Rover Evoque at Rs 53.2 lakh

NEW DELHI, Jan 11, (PTI), THE Tata Motors-owned Jaguar Land Rover (JLR) on Wednesday launched a petrol variant of its premium SUV Range Rover Evoque in India priced at Rs 53.20 lakh (ex-showroom, Delhi). Available in SE Trim, the new variant is powe..

Sebi plans steps to tighten settlement norms; boost municipal bonds

NEW DELHI, Jan 11, (PTI), IN A slew of reform measures, Sebi plans to tighten its settlement norms by making the suspected defaulters pay more for any delay on their part, while fresh steps would be taken to popularise new investment vehicles like mu..

Bajaj Dominar 400 unveiled at Patni Bajaj showroom

Business Bureau, Bajaj Auto has announced its new brand for premium sports bikers-the Dominar. The bike was launched at Patni Bajaj. Naresh Patni said, that the Dominar 400, powered by a 373cc triple spark four valve DTS-i engine with fuel injection an..

Zonal Business Council, Nagpur Jamiat conducts seminar on GST

Business Bureau, Al-Tijarat Al-Rabeha under the agies of Zonal Business Council, Nagpur Jamiat organised a seminar on ‘Goods and Services Tax (GST)-Way Ahead’ at Badri Masjid Complex.Janab Amil Saheb Miqdad Bhaisaheb Zainuddin presided over..

Haldiram’s Thaat Baat declares winners of ‘India-in-a-Thali Festival’

Business Bureau, Prize distribution ceremony will be held on January 28 HALDIRAM’s Thaat Baat’s annual Thali Festival ‘India-in-a-Thali Festival 2016’ ended on January 2. A lucky dip coupon was given on the purchase of every me..

Inclusion of electricity in GST sought

Business Bureau, Indian Electrical and Electronics Manufacturers' Association (IEEMA) has made a case for bringing electricity under the proposed Goods and Service Tax (GST) ambit.“As per model GST law, electricity has been kept outside the ambit..

Mercedes retains top slot despite marginal fall in salesMercedes retains top slot despite marginal fall in sales

MUMBAI, Jan 10, (PTI), IN SPITE of a marginal fall in sales due to ban on diesel vehicles for most of the year and demonetisation, world’s largest luxury carmaker Mercedes could retain its foothold in domestic market for the second year in a ro..

IndusInd Bank Q3 net up 29 per cent

MUMBAI, Jan 10, (PTI), MID-SIZED private sector lender Indusind Bank on Tuesday reported a 29 per cent surge in its December quarter net at Rs 750.64 crore, claiming that it was not impacted adversely by the demonetisation move. The lender had poste..

Payment banks to offer benefits of digital banking

By Sudhakar Atre, THE Government of India had formed the Nachiket Mor Committee to suggest a mechanism to offer benefits of digital banking to even the poorest of the poor to deepen financial inclusion. The Committee submitted its report on January 17,..

‘Satisfied customers are brand ambassadors’

Business Bureau, Marketing Forum of Vidarbha Industries Association had organised a panel discussion on the topic ‘How to market and brand your service business’ at VIA. Renowned panelists from the city, namely, Dr Sapna Sharma, Sneha Dhobl..

‘CA students should study with zeal to attain goal’

Business Bureau, NAGPUR branch of WICASA of the Institute of Chartered Accountants of India (ICAI), recently organised youth festival ‘Chorus’ for CA students at Amrut Bhawan, Sitabuldi. It was attended by more than 300 CA students. CA Sati..

Gold and silver weaken on muted demand

NEW DELHI, Jan 9, (PTI), GOLD prices fell by Rs 40 to Rs 28,700 per 10 grams at the bullion market here Monday on slack demand from jewellers even as the metal strengthened in the overseas market. Silver followed suit and declined by Rs 50 to Rs 40,..

Honda’s BS-IV compliant ‘CB Unicorn 160’ launched

NEW DELHI, Jan 9, (PTI), HONDA Motorcycle & Scooter India (HMSI) on Monday launched a BS-IV compliant version of its bike CB Unicorn 160, priced at Rs 73,552 (ex-showroom Delhi). The motorcycle also comes with automatic head lights on (AHO) feat..

First super critical set of BHEL at Mouda goes operational

Business Bureau, The company is now capable of manufacturing up to 1,000 MW super critical set. It is also equipped with all facilities at its modern plants for manufacturing equipment of total 20,000 MW The first super critical thermal power plant of..

‘Big Brand Sale 2017’ at Gaysons The Fashion Mall

Business Bureau, GAYSONS The Fashion Mall, one of the oldest and established stores in Central India which caters to men’s, ladies, kids, newborn, home accessories, Swiss watches, luggage and many more, is proud to announce the starting of its Wi..

‘Procurement Policy will open large market for SMEs’

Business Bureau, MSME-DI, Nagpur organised a State-level Vendor Development Programme in association with National Small Industries Corporation Ltd (NSIC) and supported by MMASS at MSME-DI. The main objective of this programme was to develop SC/ST vend..

Team CAIT Ladies Wing fetes DG of I-T, Pune

Business Bureau, DIRECTOR General of Income Tax (Investigation) Rakesh Kumar Gupta was felicitated by Asha Pandey and her team members of Team CAIT Nagpur Ladies Wing. Rakesh Kumar Gupta was felicitated during his recent visit to Nagpur in connection w..

Citi India cuts lending rate by 0.7 per cent

NEW DELHI, Jan 6, (PTI), JOINING the lending rate cut spree, foreign lender Citi India on Friday reduced its home loan rate by 0.7 per cent. It will reduce the interest rate to 8.80 per cent from 9.50 per cent, effective January 9, Citi India said in..

BSE to launch new IRF contract from January 10

NEW DELHI, Jan 6, (PTI), LEADING stock exchange BSE will introduce new interest rate futures (IRF) contracts from January 10 on Government bonds maturing in 2029. The IRF contract is based on 6.79 per cent Central Government security maturing on Dece..

KVIC sales grow 9.25% in Dec

NEW DELHI, Jan 6, (PTI), SALES of khadi and village industry products grew 9.25 per cent in December despite the demonetisation drive, KVIC on Friday said. The Khadi and Village Industries Commission (KVIC) sells these through more than 7,100 sales o..

Suzlon bags 105 MW order from Axis Energy Group

NEW DELHI, Jan 6, (PTI), WIND turbine maker Suzlon Group on Friday said that it has bagged 105 mega watt (MW) order from Axis Energy Group in Andhra Pradesh. “The project consists of 50 units of S111 90 metre tubular tower, each with a capacit..

Tanishq’s exciting offers on diamond studded jewellery

Business Bureau, TANISHQ, India’s largest and most-loved jewellery brand has announced exciting offers on its wide range of studded diamond jewellery across all its collections. Customers can avail up to 20 per cent off on various studded offerin..

Devpt activities on Kamptee Road wooing investors

Business Bureau, It was a New Year gift to those who were waiting to borrow home loans at cheaper rates. The first one to give the gift was banking behemoth State Bank of India (SBI) which had reduced its MCLR by 90 basis points or 0.9 per cent across ..

‘Entrepreneurs must be ready to face challenges’

Business Bureau, GURUPRASAD Shenai, a certified corporate trainer and motivational speaker from Mumbai, conducted a workshop for the micro, small and medium entrepreneurs (MSMEs) and other members at Vidarbha Industries Association (VIA) on how to effe..

Stay calm while dealing with Income-Tax notices

By Julfesh Shah, THE notification of the Central Board of Direct Taxes (CBDT) asking banks to furnish details of cash deposits above a certain amount has got many worried about receiving notice from the Income-Tax department. But, if a person has been ..

1.5 cr LPG connections issued to BPL households under PM Ujjwala Yojana

NEW DELHI, Jan 5, TARGET of 1.5 crore connections fixed for the current financial year for Pradhan Mantri UjjwalaYojana (PMUY) has been achieved within a span of less than 8 months and the scheme is being implemented now across 35 States/UTs. The visi..

Torque Pharmaceuticals noble gesture, distributes 20 trucks of ‘Jal’ mineral water

Patna, Bihar, (Jan 5), TORQUE Pharmaceuticals (P) Limited, supplied 20 truckloads of the purest natural mineral water ‘Jal’ for free distribution to all devotees present at the 350th Prakash Parv or Birth Anniversary of Guru Gobind Singh ..

Set up Digital Payments Promotion Board: CAIT

Business Bureau, With Prime Minister Narendra Modi laying great emphasis on adoption of digital payments in the country, the Confederation of All India Traders (CAIT) has suggested Government to constitute a Digital Payments Promotion Board. The Board ..

CAs are leaders of change: Prafull Chhajed

Business Bureau, The entire world has passed stage of fast changing world and it is now going into dynamic volatility due to technology and way of doing business. Chartered accountant fraternity is also expected to play a role of more as advisory consu..

Maruti opens online booking for upcoming model ‘Ignis’

NEW DELHI, Jan 4, (PTI), THE country’s largest carmaker, Maruti Suzuki India (MSI), Wednesday opened online booking for its premium hatchback ‘Ignis’ that it plans to launch next week. “India’s largest passenger vehicle ..

Services sector contracts for 2nd month on cash-crunch: PMI

NEW DELHI, Jan 4, (PTI), REELING under cash-crunch, services sector contracted for the second consecutive month in December as the demonetisation move took a heavy toll on business activities and led to the sharpest fall of over three years in new or..

Undisclosed income holders must avail PMGKY: Gupta

Business Bureau, R K GUPTA, Director General of Income-Tax Department (Investigation),Pune on Tuesday called upon the assessees who have undisclosed income held only as cash or deposit (bank or post office), should take advantage of the Pradhan Mantri ..

JSW Steel conducts raid on steel trader, seizes counterfeit products

Business Bureau, JSW Steel, the flagship company of diversified Indian conglomerate JSW Group, raided a steel retailer with the help of authorities in Nagpur city to combat counterfeiting of products under its brand.JSW Steel has established a reputati..

Demonetisation to hit growth of cement sector

Business Bureau, Demonetisation is likely to pull down growth of the cement sector this fiscal to 4 per cent and may impact the debt level of small and medium producing firms, says a report. Cement output is estimated to grow around 4 per cent in 2016..

Mutual funds add over Rs 3.5 lakh crore to kitty in 2016

Business Bureau, This was the fourth consecutive yearly rise in the industry of AUM MUTUAL funds industry saw its assets under management jump to nearly Rs 17 lakh crore in 2016, adding more than Rs 3.5 lakh crore to the kitty mainly on the back of in..

Sensex rebounds on positive infra data; GST meet in focus

MUMBAI, Jan 3, (PTI), REVERSING its previous day’s losses, the Sensex Tuesday staged a comeback to end with a paltry gain of 48 points at 26,643, buoyed by pick-up in infrastructure sector in November coupled with firm global cues. The overall ..

Sugar output reaches 8 million tonnes in Oct-Dec; demand drops

NEW DELHI, Jan 3, (PTI), THE country’s sugar production had touched 8.09 million tonnes in October-December while demand remained low due to demonetisation, the Indian Sugar Mills Association (ISMA) said Tuesday. Around 462 mills produced 8.09..

Tariff War: Airtel offers 3GB free 4G monthly data

NEW DELHI, Jan 3, (PTI), TELECOM operator Bharti Airtel Tuesday upgraded its existing unlimited calling schemes by adding 3GB free 4G data, worth upto Rs 9,000, for non-users of its 4G services.“Customers will get free 3GB data every month till..

Tata Motors launches new Xenon at Rs 6.05 lakh

MUMBAI, Jan 3, (PTI), TO CASH in on the revival in the 2,00,000-unit per annum pick-up segment, Tata Motors Tuesday launched a new variant of its so far export-focussed premium offering Xenon and roped in for the first time in its history a brand amb..

Demonetisation blues: Mixed bag for automobile sales in December

NEW DELHI, Jan 2, (PTI), REFLECTING challenges faced by the automobile industry in the wake of demonetisation, auto majors Hyundai Motor India, Mahindra & Mahindra and Ford India on Monday reported a decline in their domestic sales in the month o..

Sensex marks 2017 start with a 31-point loss

MUMBAI, Jan 2, (PTI), IN A listless trading Monday, the Sensex closed with a marginal loss of over 31 points at 26,595 on the first trading day of 2017 as banking stocks felt the heat due to worries that the lending rate cuts would hit their bottom l..

Gold begins New Year on a steady note; silver falls

NEW DELHI, Jan 2, (PTI), GOLD prices ended steady at Rs 28,300 per ten grams on the first trading day of 2017 on scattered demand from local jewellers. However, silver declined by Rs 100 to Rs 39,300 per kg owing to reduced offtake by industrial unit..

Manufacturing sector slips into contraction on cash crunch

NEW DELHI, Jan 2, (PTI), HIT hard by the demonetisation move, the manufacturing sector plunged into contraction in December -- the first shrinkage in a year -- as cash crunch took its toll on new business orders and factory output, a monthly survey s..

Sensex ends volatile 2016 on robust note, sprints 260 pts

MUMBAI, Dec 30, (PTI), STOCKS signed off 2016 on a cheerful note, with the Sensex surging over 260 points Friday to close at over a fresh two-week high of 26,626 on the final trading session of the year, amid positive Asian cues. The beginning of Ja..

Basmati rice industry likely to rebound in H2 FY17, FY18: ICRA

MUMBAI, Dec 30, (PTI) LOWER production volume and stable global demand is expected to push up realisations of basmati rice in FY2017 and FY2018, despite short-term impact of demonetisation, a report said. Basmati rice industry is expecting a rebound..

Rupee jumps 18p to 67.92 vs $

MUMBAI, Dec 30, (PTI), EXTENDING its gains for the second straight day, the rupee Friday ended higher by 18 paise to 67.92 per dollar on selling of the US currency by banks and exporters in view of weakness in greenback in overseas market.However, th..

Yes Bank raises Rs 330 crore via Green Infra Bonds

NEW DELHI, Dec 30, (PTI), PRIVATE lender Yes Bank Friday said it had raised Rs 330 crore through Green Infrastructure Bonds on a private placement basis. “The Bank has successfully raised Rs 330 crore of Green Infrastructure Bonds through priva..

Sensex hits two-week high; Nifty tops 8,100 on F&O expiry

MUMBAI, Dec 29, (PTI), A SUDDEN spurt in buying at the fag end of the trading lifted markets higher Thursday as the Sensex rebounded over 155 points to end at an almost two-week high of 26,366 as December derivatives contracts expired amid recovery i..

Ambuja Cement launches ‘Go Cashless’ campaign

NEW DELHI, Dec 29, (PTI), IN THE wake of demonetisation, Ambuja Cement has launched a pan-India ‘Go Cashless’ campaign, encouraging its business partners to adapt to cashless business transactions. The ‘Go Cashless’ campaign,..

Gold, silver surge on increased offtake

NEW DELHI, Dec 29, (PTI), RISING for the third straight day, gold prices rose by another Rs 150 to Rs 28,350 per 10 grams, tracking positive global cues amid continued buying by local jewellers. On similar lines, silver advanced by Rs 400 to Rs 39,90..

Sebi launches prosecution in 568 CIS cases, 1,100 others

NEW DELHI, Dec 29, (PTI), MARKETS regulator Sebi has launched as many as 568 prosecution cases against those collecting public money through illegal investment schemes and nearly 1,100 other cases for violation of securities norms. The entities have ..

NSE files IPO papers with Sebi; may raise Rs 10K cr

NEW DELHI, Dec 28, (PTI), LEADING bourse NSE Wednesday filed draft papers with market regulator Sebi for its much-awaited IPO, expected to be one of the biggest in recent times with an estimated size of over Rs 10,000 crore.The Initial Public Offer (..

Crude oil holds near annual peaks, awaiting OPEC cuts

LONDON, Dec 28, (Reuters), OIL prices edged up for a fourth consecutive session on Wednesday, close to their peaks since mid-2015, with the market awaiting evidence of OPEC supply reductions in the new year. International Brent crude futures were up ..

Sensex falls marginally

MUMBAI, Dec 28, (PTI), THE Sensex wiped off all its gains Wednesday and fell marginally to end in the red at 26,211 as cautious investors took profit ahead of the monthly futures and options (F&O) contract expiry amid a mixed trend overseas. Volu..

Ashok Leyland launches Oyster staff bus in Saudi

DUBAI, Dec 28, (PTI), HINDUJA Group flagship Ashok Leyland has launched Oyster staff bus in Saudi Arabia, the third product from India’s second largest commercial vehicle manufacturer in the kingdom in six months. The automaker had launched Fal..

IOC Mathura despatches BS VI fuel for testing

MATHURA, Dec 27, (PTI), IOC’S Mathura refinery has despatched BS VI high-speed diesel (HSD) to two auto companies to test viability and compatibility as part of its efforts to provide cleaner fuel for an eco-friendly environment. “Though..

JSW Energy board approves raising upto Rs 750 cr

NEW DELHI, Dec 27, (PTI), JSW Energy Tuesday said its board had given nod to raise funds upto Rs 750 crore through issuance of redeemable non-convertible debentures by way of private placement. The issue proceeds would be used for the general corpor..

ICICI launches Eazypay mobile app for merchants

MUMBAI, Dec 27, (PTI), IN WHAT it claims to be a first in the country, leading private sector lender ICICI Bank Tuesday launched ‘Eazypay’, an app for merchants, retailers and professionals to accept payments on mobiles from multiple digi..

Shareholders clear Rs 15 crore annual pay for SpiceJet MD Ajay Singh

NEW DELHI, Dec 27, (PTI), SPICEJET shareholders have approved paying upto Rs 15 crore as annual remuneration to Managing Director, Ajay Singh as the no-frills airline continued making profits for seven straight quarters. Besides, shareholders have c..

Essar Oil posts record net profit of Rs 2,162 cr in FY2015-16

NEW DELHI, Dec 26, (PTI), ESSAR Oil on Monday said it earned a record net profit of Rs 2,162 crore in the 2015-16 fiscal on back of robust refining margins. At the company’s annual general meeting at Vadinar in Gujarat, Essar Oil informed share..

Gold slumps to 11-month low on weak demand

NEW DELHI, Dec 26, (PTI), GOLD prices slumped by Rs 250 to hit over 11-month low of Rs 27,550 per 10 gram at the bullion market here on Monday due to weak demand from jewellers.Silver also fell by Rs 210 to Rs 38,600 per kg on reduced offtake by indu..

Nifty hits 7-month low, Sensex tanks 234 points

MUMBAI, Dec 26, (PTI), THE rally in the previous session proved to be a temporary breather as the NSE Nifty on Monday slumped to a 7-month low of 7,908 and the Sensex below 26,000, hit by talk of higher taxation after Prime Minister’s remarks.O..

Jet Airways to up capacity by 50 pc on certain domestic, international routes

MUMBAI, Dec 26, (PTI), PRIVATE carrier Jet Airways on Monday announced the deployment of higher seating capacity aircraft on two domestic and an equal number of international routes from early next year amid growing passenger demand.Jet Airways fligh..