Business news

IndiGo Likely to Expand Capacity, Plans IPO of $400 Million

While other airline brands are cautious keeping in view the losses they faced last year, IndiGo, a low-cost carrier is expected to increase its capacity in this fiscal year.

Jun 28, 2014

Catamaran Ventures to Team up with Amazon for E-Commerce

NR Narayan Murthy, co-founder of Infosys, is planning to form a joint venture with Amazon.com

Jun 28, 2014

Ranbaxy to Make Generic Diovan Drug in US

Ranbaxy Laboratories Ltd has received the nod to launch a cheaper version of Novartis AG's blood pressure and heart attack treatment pill Diovan, from US Food and Drug Administration (FDA), amid acquisition process by Sunpharma for $4 billion.

Jun 27, 2014

Japan's Sumitomo Mitsui Set to Invest ₹2,400 Crore in Reliance Capital

Japan's Sumitomo Mitsui is buying a 10 percent stake in the Anil Ambani-owned company.

Jun 27, 2014

BSE closes points 37.25 up on June 27

New Delhi, June 27 (ANI): Trading at the Bombay Stock Exchange today closed 37.25 points up to stand at 25,099.92. At the National Stock Exchange the Nifty closed 15.60 points up to stand at 7,508.80. Havells India and HDIL were among the top gainers of Group A with an increase of 6.21% and 6.09% along with Divis Lab and Future Retail with an increase of 5.99% and 5.78% respectively, while the top losers of Group A include Indian Hotels and Ashok Leyland with a decrease of 4.83% and 4.62% along with Bharat Electronics Ltd. and National Aluminium Co.Ltd. with a decrease of 3.98% and 3.75% at the close of the markets. The Auto sector is down 82.08 points at 15,198.27 while the banking sector is down 79.98 points at 17,181.74 and the realty sector is up 16.26 points at 2,055.57.The Indian currency is down 0.07% at Rs 60.10 per dollar.

Jun 27, 2014

Indian Market Opens High, Pharma and IT Sector Surge

The Sensex on Friday opened higher at 25132.08 points by surge of 69.14 points and Nifty at 7514.20.

Jun 27, 2014

Rupee Gains Against Dollar in Early Trade

The Indian rupee strengthened by 6 paise at 60.08 per dollar versus Thursday's closing of 60.14 a dollar at the Interbank Foreign Exchange Market on Friday.

Jun 27, 2014

Air India: Aviation Minister Opposes Privatization of Maharaja

Timeline showing the journey of Air India

Jun 27, 2014

Rupee, Most Asian Currencies Weaken Against Dollar on Thursday

Traders expect the rupee to move in the range of 60 to 60.50 per dollar on Thursday, following Iraq crises.

Jun 26, 2014

Indian Markets Trade Rangebound, Investors Expect Profits in Auto-sector

BSE index fell by 0.23 percent, while NSE index too declined 0.19 percent lower during early trade on Thursday. Sensex opened flat at 25,217.69 points by drop of 96.05 points and Nifty opened at 7554.10 points by slipping 15.15 points.

Jun 26, 2014

people-stand-in-front-of-the-indian-parliament-building-representational-picture

Indian Budget : A Brief History

The budget is announced to disclose agenda regarding government's future expenditure to strengthen nation's economy and consolidate economic stability through tax proposals.

Jun 25, 2014

A road sign stands next to the Bombay Stock Exchange building (Reuters)

Rupee Weakens, Indian Stocks Open High Ahead of Derivative Expiry

On Wednesday, Bombay Stock Exchange index fell by 0.04 percent and broader National Stock Exchange fell by 0.06 percent after 10.20 am, ahead of the expiry of June derivatives on Thursday and concerns regarding Iraq crises.

Jun 25, 2014

Finance Secretary highlights need to instill confidence in investors to boost economic growth

New Delhi, June 24 (ANI): Finance Secretary, Arvind Mayaram, on Tuesday laid emphasis on the need to boost investors' confidence to bring the country back on the path of growth and to spur economic expansion to its potential level. India will likely raise the foreign investment limit in government debt soon, as almost all the allocation has already been taken up as overseas buyers pile into the country's financial markets. The finance ministry will decide on the matter after consultations with the Reserve Bank of India and capital markets regulator Securities and Exchange Board of India. Mayaram said he is hopeful that the government would take adequate steps to boost overall growth rate.

Jun 24, 2014

BSE closes points 337.58 up on June 24

New Delhi, June 24 (ANI): Trading at the Bombay Stock Exchange today closed 337.58 points up to stand at 25,368.90. At the National Stock Exchange the Nifty closed 86.85 points up to stand at 7,580.20. Petronet LNG and Gujarat State Petronet Ltd. were among the top gainers of Group A with an increase of 7.73% and 7.58% along with HPCL and Jubilant FoodWorks Ltd. with an increase of 7.10% and 6.97% respectively, while the top losers of Group A include MCX and Piramal Enterprises Ltd. with a decrease of 3.07% and 2.87% along with Marico and Kotak Mah Bank with a decrease of 2.08% and 1.70% at the close of the markets. The Auto sector is up 182.10 points at 15,169.33 while the banking sector is up 261.60 points at 17,534.65 and the realty sector is up 63.62 points at 2,078.65. The Indian currency is down 0.12% at Rs 60.13 per dollar.

Jun 24, 2014

Air India joins Star Alliance group

New Delhi, June 24 (ANI): Civil Aviation Minister Ashok Gajapathi Raju on Tuesday announced the alliance of Air India with the Star Alliance group. The government expects that the step would help the ailing national carrier come out of its losses. Ending a seven-year-long wait, the Star Alliance Chief Executive Board (CEB), at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.

Jun 24, 2014