Business news

SBI To Raise $300 million Through Bond Issue: Coupon Set at 3.95%

SBI to issue $300mn worth bonds through its London branch; to list at SIX Swiss Exchange

Dec 6, 2014

Disinvestment: SAIL Stake Sale Fetches ₹ 1,715 Crore; ONGC, Coal India in Line

The Narendra Modi government's maiden disinvestment initiative is a success, 5% stake sale in state-run SAIL nets ₹1,715 crore. Prospects for offloading stakes in other PSUs brighten.

Dec 6, 2014

SpiceJet Denies Being Put on Cash-and-Carry Mode by AAI

SpiceJet Denies its Credit Facility Revoked by AAI

Dec 5, 2014

BSE closes points 104.72 down on Dec 5

New Delhi, Dec 5 (ANI): Trading at the Bombay Stock Exchange today closed 104.72 points down to stand at 28,458.10. At the National Stock Exchange the Nifty closed 26.10 points down to stand at 8,538.30. PIIND and NCC were among the top gainers of Group A with an increase of 15.56% and 12.67% along with PIPAVAVDOC and MONSANTO INDIA LTD. with an increase of 9.99% and 7.12% respectively, while the top losers of Group A include SIEMENS and RTNPOWER with a decrease 5.15% and 4.56% along with IDEA and SUZLON with a decrease of 4.25% and 4.20% at the close of the markets. The Auto sector is down 13.35 points at 19,350.30 while the banking sector is down 19.87 points at 21,481.61 and the reality sector is up 19.71 points at 1,712.20. The Indian currency is up 0.07% at Rs 61.88 per dollar.

Dec 5, 2014

India Poised to Grow Faster Than China From 2016, Says Goldman Sachs

Goldman Sachs chief India economist Tushar Poddar expects India's growth to overtake China starting 2016. Structural reforms could provide further impetus.

Dec 5, 2014

Uber Raises $1.2 Billion in Fresh Funding, Firm Now Valued at $40 Billion

Uber, the San Francisco-based ride-sharing service, has raised $1.2 billion in its latest round of funding, which pegs the value of the company at $40 billion.

Dec 5, 2014

SBI Cuts Interest Rates By 25 Basis Points

SBI has cut deposits with tenure exceeding one year by 25 basis points. Short term deposits see no change. Improved fund liquidity proved beneficial.

Dec 5, 2014

India to Export Buffalo Meat to Russia; More Products to Follow

In the face of retaliatory sanctions by Russia on EU, India set to benefit from an increase in trade of agricultural and dairy products

Dec 5, 2014

Warren Buffett Invests $25,000 in Hillary Clinton's Campaign

Warren Buffett, the billionaire philanthropist, has reportedly donated $25,000 to "Ready for Hillary" – a Political Action Committee (PAC) group that is raising money to support Hillary Clinton's run for president in the 2016 elections.

Dec 5, 2014

Ranbaxy Unit at Dewas Plant Slapped With EU Ban for Non-Compliance, Company Sees No Impact

Non-compliance report raises red flag over Ranbaxy's Dewas plant for deficiencies in design and operation of the clean-rooms, controls for preparation of components, leading to ban on exports from one of the units at the plant.

Dec 5, 2014

Blast Furnace in India at SAIL Plant - Representational Image

SAIL Floor Price Set at ₹83; Government Lines Up ONGC, CIL and Others

The floor price for the SAIL auction has been set at ₹83 and retail investors will receive 5% discount.

Dec 5, 2014

Delhi To Scrap Cars Over 15 Years In A Move To Reduce Pollution. Will Car Sales Pickup?

The National Green Tribunal banned vehicles older than 15 years off the streets of Delhi, with its unenviable record of being the world's worst polluted city. Will the move help more cars remains to be seen

Dec 4, 2014

BSE closes points 120.11 up on Dec 4

New Delhi, Dec 4 (ANI): Trading at the Bombay Stock Exchange today closed 120.11 points up to stand at 28,562.82. At the National Stock Exchange the Nifty closed 26.75 points up to stand at 8,564.40. ABB and ALOK INDUSTRIES LTD. were among the top gainers of Group A with an increase of 12.72% and 11.98% along with BEL and PUNJLLOYD with an increase of 10.50% and 8.52% respectively, while the top losers of Group A include KAILASH and RASOYA PROTEINS LTD. with a decrease 4.99% and 4.55% along with GITANJALI and AIA ENGINEERING LTD. with a decrease of 3.60% and 3.57% at the close of the markets. The Auto sector is up 24.16 points at 19,361.96 while the banking sector is up 159.91 points at 21,499.73 and the reality sector is down 3.02 points at 1,693.03. The Indian currency is up 0.01% at Rs 61.91 per dollar.

Dec 4, 2014

Green Tribunal Bans Delhi Vehicles Older than 15 Years

In the battle against the smog in Indian capital, National Green Tribunal has banned all vehicles older than 15 years from plying on the streets of Delhi.

Dec 4, 2014

SoftBank Invests $250 Million in Cab Service App GrabTaxi

SoftBank Corp, the Japanese telecom firm, has made an investment worth of $250 million in the Southeast Asian taxi hailing app GrabTaxi Holdings, becoming the largest shareholder

Dec 4, 2014