Business news

IOC, BPCL, HPCL to Get ₹11,000 Crore Subsidy in Q1

The Indian government has decided to pay oil retailers Indian Oil Corporation (IOC), Bharat Petroleum Corp and Hindustan Petroleum Corp Rs.11, 000 crore in subsidy for the first quarter.

Aug 11, 2014

Jaitley Approves RBI's Inflation Policy, ₹526.79 Billion Profit to be Transferred to Govt

Finance Minister Arun Jaitley has approved the Reserve Bank of India's target of bringing the rate of retail inflation below six percent during a meeting held on Sunday.

Aug 11, 2014

USFDA to add Personnel in India to Boost Inspection

The agency now intends to increase its manpower in the country, so that inspections are carried out regularly and efficiently.

Aug 9, 2014

Banks Likely to Hire Agency to Inspect Bhushan Steel

To monitor the operations of Bhushan Steel, banks with an exposure of Rs.40, 000 crore in company are in talks to appoint a management agency.

Aug 9, 2014

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BSE closes points 259.87 down on August 8

New Delhi, August 8 (ANI): Trading at the Bombay Stock Exchange today closed 259.87 points down to stand at 25,329.14. At the National Stock Exchange the Nifty closed 80.70 points down to stand at 7,568.55. Oracle Financial Services Software Ltd. and Apollo Hospitals Enterprise Ltd. were among the top gainers of Group A with an increase of 2.92% and 2.69% along with Pidilite Inds and Bharti Airtel with an increase of 2.49% and 2.31% respectively, while the top losers of Group A include Bhushan Steel and JPPOWER with a decrease of 9.99% and 6.01% along with Torrent Power and SSLT with a decrease of 5.80% and 5.71% at the close of the markets. The Auto sector is down 214.69 points at 15,544.33 while the banking sector is down 258.61 points at 16,903.81 and the reality sector is down 73.82 points at 1,838.98. The Indian currency is up 0.21% at Rs 61.35 per dollar.

Aug 8, 2014

Indian Stocks Record Second Consecutive Weekly Fall on Geopolitical Issues

BSE Sensex and NSE Nifty ended one percent lower on Friday.

Aug 8, 2014

SBI Reports First Profit Growth in Six Quarters

The State Bank of India on Friday reported its first profit in the last six quarters due to the higher interest income and stability of bad loans.

Aug 8, 2014

Shares of Gujarat State Petronet Slip on 32% Quarterly Loss

Stocks of Gujarat State Petronet fell 3.68 percent to Rs.82.50 per share at 11 am during trading hours on Friday. The shares fell after the company posted its declined revenue results due to lower operational income.

Aug 8, 2014

a-passenger-outside-the-spicejet-airlines-ticket-counter-at-the-domestic-airport-on-the-outskirts-of-agartala

Maran to Sell Majority Stake in SpiceJet, 10% Salary Hike after 3 Years

The airline posted a loss of ₹1,003.24 crore in the previous financial year.

Aug 8, 2014

RCom Receives ₹650 Cr from Promoter Group Telecom

Reliance Communications on Thursday announced that it has received the first instalment of Rs 650 crore from Telecom Infrastructure Finance.

Aug 7, 2014

Adani Likely to Join Hands with IOC for Mundra Port Oil Refinery Project

The Adani Group and Indian Oil Corporation are in talks to build an Rs.30, 000 crore joint venture project with a capacity of 30 million tonne refinery at Mundra Port in Gujarat.

Aug 7, 2014

Raghuram Rajan, governor of Reserve Bank of India. (Reuters)

Raghuram Rajan Warns of 'Another Crash' in Global Financial Markets

India's Central Bank Chief Warns of 'Another Crash' in Global Financial Markets

Aug 7, 2014

RBI Tightens Regulatory Norms for Asset Reconstruction Firms

Additionally the apex bank has also asked these companies to disclose the recoveries made under each asset that they acquire.

Aug 7, 2014

Luxury Brand LVL XIII Takes Legal Action Against Fashion Brand Louis Vuitton

Fashion industry's emerging firm LVL XIII Brands, has initiated legal action against one of the largest fashion brands Louis Vuitton for Trademark violation.

Aug 7, 2014

Sensex, Nifty Slumps; IT Stocks Surge

The benchmark Sensex closed 0.94 percent lower at 25660.84 points and the broader Nifty ended 0.96 percent lower at 7672.05 points.

Aug 6, 2014

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