Business news

Finance minister terms parliamentarian award as peer recognition

New Delhi, Aug 13 (ANI): President Pranab Mukherjee recently conferred the outstanding parliamentarian awards to three veteran leaders. India's Finance Minister Arun Jaitley, Congress leader Karan Singh and regional party Janta Dal-United chief Sharad Yadav were honoured with the awards for the years 2010, 2011 and 2012, respectively. At a function organised by the Indian Parliamentary Group, President Mukherjee presented the awards to Jaitley, Singh and Yadav, while all the three turned very nostalgic about the past. Going down the memory lane, Jaitley said when he looks back it seems that he has come a long way. Meanwhile, Congress leader Karan Singh recalled his earliest association with the parliament, which dates back to 1950s. Remembering the times of India's independence, Janta Dal-United chief Sharad Yadav talked about making his Parliamentary debut at the time when it was still abuzz with freedom fighters.

Aug 13, 2014

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BSE closes points 361.53 up on August 12

New Delhi, August 12 (ANI): Trading at the Bombay Stock Exchange today closed 361.53 points up to stand at 25,880.77. At the National Stock Exchange the Nifty closed 101.10 points up to stand at 7,727.05. Eicher Motors and RAMCOCEM were among the top gainers of Group A with an increase of 8.40% and 8.30% along with Gail India and Tata Motors with an increase of 5.83% and 5.72% respectively, while the top losers of Group A include Bhushan Steel and Neyveli Lignite with a decrease of 9.98% and 6.49% along with Indian Hotels and Mangalore Refinery with a decrease of 5.96% and 5.28% at the close of the markets. The Auto sector is up 282.19 points at 16,238.89 while the banking sector is up 240.43 points at 17,237.63 and the reality sector is up 19.07 points at 1,875.74. The Indian currency is up 0.11% at Rs 61.11 per dollar.

Aug 12, 2014

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

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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