Reliance Group ends accord for Jharkhand power project
In a move that will cut by Rs.36,000 crore the future capital expenditure of Reliance Power, a part of the Anil Ambani-led group, the company announced on Tuesday that it has terminated the power purchase agreement of its 3,960-MW ultra mega project at Tilaiya in Jharkhand.
Sensex sheds 66 points; FMCG stocks drop (Lead)
A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), was trading 65.77 points or 0.24 percent down during afternoon session on Tuesday. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 10.40 points or 0.13 percent down at 8,203.40 points. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,215.61 points, was trading at 27,111.22 points (at 1.20 p.m.), down 65.77 points or 0.24 percent from the previous day's close at 27,176.99 points.
UP signs two MoUs for solar power
Uttar Pradesh has signed two memorandum of understanding (MoUs) for establishing a solar and an ultra-mega solar power project in the state, officials said on Tuesday. While the first MoU was signed between Uttar Pradesh and the department of New and Renewable Energy, Government of India, the second was inked between the Solar energy Corporation of India and Uttar Pradesh New and Renewable Energy Agency (UPNEDA).
Odisha to invest Rs.1,000 crore for tribals' development
Odisha plans to invest around Rs. 1,000 crore in the next two years to improve the living standards vulnerable tribal groups in the state, officials said on Monday.
Jammu-Srinagar highway opens one way for Darbar move
One-way traffic was allowed on the Jammu-Srinagar highway on Monday after the overnight rain and thunderstorm hit portions of the over 300-km road to facilitate Darbar move. "To facilitate the shifting of office records and staff to the Kashmir Valley after the Darbar closed in Jammu, traffic was allowed from Jammu to Srinagar for April 25 and 26 only," said a traffic department official.
Sensex sheds 137 points; healthcare stocks down
A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), was trading 137.31 points or 0.50 percent down during afternoon session on Monday. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 48.95 points or 0.59 percent down at 8,256.30 points. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,565.49 points, was trading at 27,300.63 points (at 1.20 p.m.), down 137.31 points or 0.50 percent from the previous day's close at 27,437.94 points.
Ratan Tata buys stake in Chinese smartphone major Xiaomi
Chinese smartphone major Xiaomi said on Sunday that Ratan Tata, chairman emeritus of the Tata group, has acquired a stake in Xiaomi Technology in a deal expected to bolster the company's presence in India. "This is the first investment by any Indian into Xiaomi," the company said in a release here. "Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far," said Lei Jun, founder and chief executive of Xiaomi.
Sreedharan presents DPR on Vijayawada Metro to Andhra CM
Delhi Metro Rail Corporation's (DMRC) principal advisor E. Sreedharan on Sunday presented the detailed project report (DPR) on Vijayawada Metro to Andhra Pradesh Chief Minister N. Chandrababu Naidu. Union minister M. Venkaiah Naidu was also present at the occasion. Sreedharan said that the total estimated cost of the project (till 2019) is Rs.6,823 crore.
Services push must to create jobs: Jaitley
India has the means and the potential to become a global hub for services with competitive pricing, and become a major source of job creation for millions of youth in the country, Finance Minister Arun Jaitley said on Saturday.
Kathmandu airport shut, flights from India cancelled
The Tribhuvan International Airport in Kathmandu was shut on Saturday after a massive earthquake rocked Nepal just before noon, resulting in the cancellation of all the eight subsequent return flights from India bound for the capital city.
Modi travels in Delhi metro
Prime Minister Narendra Modi on Saturday travelled in the Delhi metro. Modi travelled from Dhaula Kuan to Dwarka and shared a picture on social networking site Twitter. "Really enjoyed the ride. Thanks Delhi Metro. Thanks Sreedharan ji!," tweeted the prime minister. In another tweet, Modi said: "Sreedharan ji would always tell me to experience the Delhi Metro. Today I had the opportunity to do so on the way to Dwarka." Former Delhi metro chief E. Sreedharan is popularly known as the "Metro Man".
OPEC daily basket price closes over a dollar higher
The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $59.14 a barrel on Thursday, compared to $58.09 on Wednesday, the organisation's secretariat said.
Infosys reports 3.5 percent rise in fourth quarter profits
Information technology bellwether Infosys Ltd on Friday reported a 3.5-percent rise in the fourth quarter results ended March 31, at Rs.3,097 crore, while proposing a bonus issue of shares in the ratio of 1:1.
Reliance Group, Samsung asset management firms in strategic pact
Anil Ambani-led Reliance Group on Friday said it has signed a pact for a strategic alliance with Samsung, which runs Korea's largest asset management company with a corpus of $165.8 billion, to leverage the strengths in their respective domains and domicile. Both Samsung Asset Management Co and its counterpart in the Reliance Group will explore areas for developing, managing, marketing and distributing each other's products in India and Korea.
Indian equities open lower on tax worries
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened lower at 27,804.58 points, against the previous day's close at 27,735.02 points. Some 10 minutes into trading it was ruling at 27,653.10 points, with a loss of 81.92 points,or 0.30 percent. At the National Stock Exchange, the Nifty was down 37.25 points, at 0.44 percent.
Deutsche Bank to pay $2.5 bn fine for interest rate-rigging
Deutsche Bank has agreed to pay a $2.5-billion fine to settle US and British accusations that more than 20 employees engaged in a "widespread effort" to rig benchmark interest rates for profit between 2005 and 2009, officials said on Thursday.
Indian seafood exports to the EU on the rise
Indian seafood exports to the European Union (EU) have been steadily growing from $227 million in 2000-01 to $805 million in 2011-12 and is expected to reach $1.06 billion in 2014-15 , according to Leena Nair, chairperson of Marine Products Export Development Authority of India (MPEDA).
Sensex down 195 points; capital goods stocks plunge
A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), was trading 194.91 points or 0.70 percent down during afternoon session on Thursday. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 39.05 points or 0.46 percent down at 8,390.65 points.
BSNL to allow unlimited free calling at night
State-run BSNL said on Thursday it will introduce unlimited free calling at night from its landline phones to all landline and mobile phones of all service providers across India from May 1. With this, the Bharat Sanchar Nigam Ltd intends to promote landline usage. "This unlimited free night calling shall be available from 9 p.m. to 7 a.m.," a company statement said.
Indian equities open higher on Thursday
Indian equities opened higher on Thursday, keeping the momentum seen in the second half of trading session the day before, as also on the back of a rise in US stocks thanks to some positive earnings growth among large corporations. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher by 87.14 points at 27,977.27 points, against the previous close at 27,890.13 points. Within minutes into trading, it moved up to 28054.47 points.
At the National Stock Exchange (NSE), the Nifty was up 53.10 points, or 0.63 percent
Sooperfly: To empower Asia's digital video market
In a move aimed at redefining the creation and distribution of digital video, India's The 120 Media Collective and Britain-based Diagonal View on Wednesday announced their Sooperfly joint venture. The companies have come together to create a platform for talent and publishers to enter the world of video creation, distribution and monetisation.
Power plants to be soon allowed to swap coal supplies: Goyal
The government is working on a policy to allow power generating companies to swap fuel linkages so as to clear bottlenecks in coal supply, Power and Coal Minister Piyush Goyal said on Wednesday. "We are looking at soon coming out with a policy where state generation firms, central PSUs and companies in the private sector, all will be given the approval to soon to swap coal inter se their various plants," Goyal told reporters on the sidelines of the "MindMine" conference here.
Samsung likely to set up $100 mn facility in Hyderabad
Global electronics major Samsung is expected to set up a manufacturing unit in Hyderabad with an investment of $100 million, Telangana Chief Minister K. Chandrasekhar Rao said on Wednesday. He said the ministers for industry and information technology would meet a delegation from Samsung in this regard on Thursday.
Improve infrastructure for growth in northeast: Modi
Terming infrastructural development as "key" to progress in the northeast India, Prime Minister Narendra Modi on Wednesday called to speed up such projects for improved connectivity in the country's east and northeast regions. Presiding over the second interaction of PRAGATI here, Modi reviewed the progress of key railway projects in West Bengal and Assam as well as the progress of the India-Myanmar-Thailand trilateral highway.
Mahindra expands Telangana auto plant
Automotive major Mahindra & Mahindra has expanded its automotive manufacturing plant here by opening an extended facility on Wednesday. Set up with an investment of Rs.250 crore, the extended facility will manufacture a new small commercial vehicle scheduled to be launched in the first half of the current fiscal
Sensex closes nearly 215 points up; capital goods gain
After five consecutive sessions of fall, a benchmark index of the Indian equities markets, the 30-scrip S&P Bombay Stock Exchange (BSE) Sensitive Index (Sensex), made gains during Wednesday's trade, rising by 215 points or 0.77 percent. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains during the day's trade. It closed 51.95 points or 0.62 percent up at 8,429.70 points.
Orange Renewable triples wind power capacity
Orange Renewable Power, a wholly-owned subsidiary of Singapore-based AT Holdings, said that with the commissioning of its 120 MW wind power projects in Madhya Pradesh and Rajasthan, it has tripled its wind power capacity.
Three-fourths of fossil fuels must stay in ground to save humanity
World leaders must stay committed to leaving at least three-quarters of all known fossil fuel reserves in the ground to avoid the worst effects of climate change, leading scientists and economists have appealed on the occasion of Earth Day. "We have the choice to either finally embark on the journey towards sustainability or to stick to our current destructive 'business-as-usual' pathway," read the Earth Statement, written by 17 members of the Earth League, on Wednesday.
Farmers killing themselves a serious issue: Sachin Pilot
Congress leader Sachin Pilot said on Wednesday that it was "shocking" how farmers were killing themselves in the absence of proper compensation for their destroyed crops."It's shameful that farmers are forced to take their lives in absence of financial support when in need," he told reporters after a farmer from Rajasthan, who tried to commit suicide during a rally of the Aam Aadmi Party (AAP) here, was declared brought dead in hospital.
Sensex trades 125 points down; healthcare stocks hit
benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading in the red during the pre-afternoon trade session on Tuesday. It was down nearly 125 points or 0.45 percent. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading lower during the pre-afternoon trade session. It was down by 48.85 points or 0.58 percent at 8,399.25 points. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,886.21 points, was trading at 27,761.79 points (at 10.00 a.m.) in the early session, down 124.42 points or 0.45 percent from the previous day's close at 27,860.51 points. The Sensex had touched a high of 27,976.93 points and a low of 27,750.43 points in the intra-day trade so fa
Government to launch two insurance schemes
The central government is expected to launch in May or June the two insurance schemes announced by Finance Minister Arun Jaitley, said a senior official in Insurance Regulatory and Development Authority of India (IRDAI). He said IRDAI will soon come out with regulations governing the commission payable by the insurers and their management expenses. The two schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (life insurance policy) and Pradhan Mantri Suraksha Bima Yojana (personal accident policy) which are not government-subsidised programmes are expected to increase the insurance penetration in the country.
Sensex down nearly 180 points; automobile stocks fall
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), made heavy losses during the pre-afternoon trade session on Monday. It was down nearly 180 points or 0.63 percent. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the red during the pre-afternoon trade session. It was lower by 55.85 points or 0.65 percent at 8,550.15 points.
India well on path to economic recovery : Arun Jaitley
The Indian economy is on a recovery path with 7.4 percent growth in the first three quarters of the last fiscal with the new NDA government committed to maintaining overall macro-economic conditions, said Finance Minister Arun Jaitley.
Cellular operators reaffirm support for net neutrality
The Cellular Operators Association of India (COAI) on Sunday reaffirmed its support to the principle of net neutrality, making a strong pitch for the government's vision of "net equality" that will enable access to the internet for a billion Indians.
India to grow at 7.5 percent in 2015: Moody's
A week after it revised its outlook on India to positive from stable, international credit rating major Moody's pegged India's growth at 7.5 percent for 2015. "India's economy is on a cyclical upswing. Forward looking indicators suggest domestic demand is gathering momentum," said Faraz Syed, associate economist, Moody’s Analytics.
Sensex trades in the red, down 87 points
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading in the red during the post-afternoon session on Friday. It was down 88 points or 0.31 percent.
Tripura tops for sixth year in providing rural jobs
The Left-ruled Tripura maintained its top position for the sixth consecutive year by providing 88 person-days' rural jobs per household under the job guarantee scheme during the 2014-15 fiscal.
Rajnath meets farmers in Saharanpur, assures help
Home Minister Rajnath Singh on Thursday visited many areas in Saharanpur and took stock of the problems being faced by farmers whose crops were ravaged by the recent unseasonal rain and hailstorms.
India gifts 35 vehicles to Nepal's anti-graft body
Indian authorities on Thursday gifted 35 vehicles to Nepal's anti-graft body, the Commission for the Investigation of Abuse of Authority (CIAA). At a function held at the CIAA headquarters, India's ambassador to Nepal Ranjit Rae presented the vehicles worth 33 million Nepali rupees (about $331,000) to the commission.
Sensex down 36 points; banking stocks drop
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading 35.90 points or 0.12 percent down on Thursday. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also trading 10.70 points or 0.12 percent down at 8,739.50 points.
Haryana inks MoU with Israel on animal husbandry, dairying
The Haryana government on Wednesday inked an MoU with Israel's agency for international development cooperation Mashav to establish a centre of excellence for animal husbandry and dairying in Hisar.
Modi's Canada visit: Uranium deal clinched, 13 agreements inked
Turning a new chapter in its relationship with Canada, India on Wednesday clinched a multi-million-dollar deal for uranium to power its civilian nuclear programme for five years and also inked 13 agreements on skill development as Prime Minister Narendra Modi after talks with Prime Minister Stephen Harper sought Canada's "cooperation and investment in every area of India's national development priority".
Sensex trades flat; auto stocks plunge
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Wednesday was trading flat at 8.72 points or 0.03 percent down as auto stocks plunged. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading flat at 2.50 points or 0.03 percent down at 8,831.50 points.
World Bank pegs India's growth at 8 percent next fiscal
The World Bank has forecast India's growth accelerating to 8 percent in the next fiscal and said the country is well-placed in a region that has not only logged the highest economic expansion but would benefit the most from cheaper oil bill.
Farmers block Yamuna Expressway in UP
Farmers blockaded the Yamuna Expressway on Tuesday in Uttar Pradesh, demanding more money as compensation for crops damaged by untimely rainfall.
UP declares emergency over untimely rainfall
With more rainfall in the past two days causing further damage of standing crops in Uttar Pradesh, the state government has declared emergency and cancelled the leave of all district magistrates, officials said.
Prabhu refuses divulge details of rail line along India-China border
Days after Defence Minister Manohar Parrikar revealed India's plan to set up a rail station along the India-China border in Arunachal Pradesh, Railway Minister Suresh Prabhu on Monday admitted to the plan but refused to give details.
Aim to save 200 bn units of electricity in five years: Goyal
The government aims to bring down transmission losses to save 200 billion units, or 10 percent of the power consumption achieved, in the next five years, Power Minister Piyush Goyal said on Monday.
Indian growth engine re-energised: Modi
Prime Minister Narendra Modi on Monday said his government had "re-energised" the Indian growth engine and that the country wants to become a manufacturing hub to serve its domestic market as well as exports.
Sensex gains nearly 100 points; consumer durables rise
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading with gains of around 100 points in Monday's mid-afternoon session, as stocks of consumer durables and capital goods surged.
Join our national movement of Make in India: Modi
Asserting that his "Make in India" campaign is not a mere brand or a slogan, Prime Minister Narendra Modi asked global businesses to follow its logo, the lion, to the welcoming and stable investment climate in his country and become a part of this new, national movement.
Sensex trades flat; capital goods stocks surge
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading flat on Monday at 14.21 points or 0.05 percent up as capital goods stocks surged.
Modi in France: Airbus to hike Indian outsourcing to $2 bn
Airbus Industries has assured Prime Minister Narendra Modi that its Indian outsourcing will increase from $400 million to $2 billion over the next five years as part of the Indian government's Make in India initiative.
Hospital chain offers jobs to nurses returning from Yemen
UAE-based Aster DM Healthcare, headed by leading medical professional Azad Moopen, on Saturday offered jobs to Indian nurses who have recently returned from Yemen.
In a statement issued here, the company said it is willing to provide jobs to these nurses in their numerous hospitals in Kerala and in the Middle East.
Paytm to spend Rs.500 crore for brand promotion
Leading mobile commerce player Paytm on Friday declared it would spend Rs.500 crore this fiscal (2015-16) to promote its brand, beginning with a film campaign on the ongoing IPL.
Reliance commissions two chemical plants in Gujarat
Reliance Industries Limited (RIL) on Friday said it has commissioned two chemical plants with a total capacity of 650 kilo tonnes per annum to produce PET resin to be used for water packaging, carbonated soft drinks, pharmaceuticals and other foods and beverages.
Xiaomi sells over two million phones in 12 hours
China's largest smartphone maker Xiaomi has sold over two million phones in a 12-hour period, setting a Guinness World Record for mobile phone sales in the process, according to media reports on Thursday.
Japan offers to help Rajasthan in urban management
Japan has offered to help Rajasthan in urban management, an official statement said. This was conveyed by Tokyo Vice Governor Nobuhiro Maeda when Rajasthan Chief Minister Vasundhara Raje called on him in Tokyo on Thursday.
India's social progress ranking below all neighbours
India has a low rank of 101 among the 133 countries measured for their social progress, even below some immediate neighbours such as Pakistan, Bangladesh, Nepal and Sri Lanka, indicating the level of meeting basic human needs and well-being, among other factors.
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), provisionally closed Thursday's trade with healthy gains. It gained 177 points or 0.62 percent.
Renault launches MPV Lodgy
Automobile manufacturer Renault India on Thursday launched its multi-purpose vehicle (MPV) Lodgy at an introductory price range of Rs.8.19 lakh-Rs.11.79 lakh (ex-showroom, New Delhi).
Ramalinga Raju, nine others found guilty in Satyam case
A special CBI court on Thursday found B. Ramalinga Raju, his two brothers and seven others guilty in the multi-crore Satyam scam which stunned the corporate world in 2009. Ramalinga Raju, the Satyam Computer Services Ltd's founder and former chairman, and his brother B. Rama Raju were found guilty of criminal breach of trust, a CBI lawyer said.
Modi praises small businesses, promises empowerment
Praising small businesses, notably for contributing towards growth and providing jobs to some 12 crore people, Prime Minister Narendra Modi has promised to empower them and said a new self-employment scheme will address the aspirations of their children.
Sensex surges 107 points; banking stocks gain
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Thursday surged 106.62 points or 0.37 percent as banking stocks gained. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 26.80 points or 0.31 percent up at 8,741.20 points.
Farmers to get subsidy for 33 percent crop damage: PM
Prime Minister Narendra Modi on Wednesday said farmers would be eligible for input subsidy if 33 percent of their crop has been damaged against the prevailing norm.
Digital ration cards to be distributed in Lucknow
In a major initiative towards digitising the public distribution system (PDS) in the state, 1,500 digital ration cards will be distributed in the state capital on Wednesday, officials said.
Environment ministry to colour code industries
India's environment ministry has sought to classify industrial units in a category of colours based on their pollution potential, Environment Minister Prakash Javadekar said on Tuesday.
Siti cable directed to pay Rs.33 crore as fine
The Delhi government on Tuesday directed Essel Group owned Siti Cable Network Limited to deposit Rs 33.12 crore as outstanding entertainment tax for two years, along with interest and penalty within 15 days.
Sensex closes flat; as RBI maintained policy rates
A benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), provisionally closed Tuesday's trade flat - up 12 points or 0.04 percent.
OPEC daily basket price closes higher
The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $53.20 a barrel on Monday, compared to $52.92 last Thursday, the organisation's secretariat said.
Honda City reaches 1 lakh sales mark
Japanese automobile major Honda Cars India on Monday reported that its fourth generation Honda City has become the fastest mid-size sedan in India to achieve the 1 lakh sales mark in just 15 months.
Kerala, London to collaborate in IT sector
Kerala and London will collaborate to promote small and medium enterprises, and start-ups in the Information Technology (IT) sector, an official said on Monday.
Sensex trades flat; healthcare stocks rise
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading flat in the morning trade session on Monday. It was trading marginally down by 12 points or 0.04 percent.
De Beers mulls retail expansion in India
Global diamond miner and trader De Beers plans to expand its retail presence in India through its jeweller partners, a top company official said. "We plan to increase our presence in 27 cities through 200 jewellers from 24 cities and 162 partners across the country, as India is a high growth market for us," De Beers group chief executive Philipe Mellie told reporters here. The Luxembourg-based company has also opened an international institute of diamond grading and research at Surat in Gujarat.
New lower gas price to cut urea subsidy by Rs.930 crore
The eight percent cut in the new domestic natural gas price to $4.66 a unit will help bring down the urea subsidy bill by Rs.930 crore, India Ratings & Research (Ind-Ra) said. The cut in gas prices from $5.05 per million British thermal unit to $4.66 from April 1 reflects the reduced international hub prices.