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Indian shares provisionally rose 3.63 percent on Friday after slower-than-expected economic growth and a drop in inflation calmed the outlook for interest rates.

Leading telecom company Bharti Airtel plans to invest $1billion (Rs 4,000 cr) in its tower business through this fiscal year, a top executive said on Friday. The investment would be done through Bharti Infratel, a fully-owned subsidiary of Bharti Airtel Ltd that handle the tower business, Manoj Kohli, the company’s CEO and amp; joint managing […]

Engineering and construction giant, Larsen and Toubro (L & T), is restructuring its operations. The company plans to carve out 12 subsidiary companies with focus on its existing and emerging businesses.

Leading industrialists and industry lobbies Friday rallied behind Tata Motors Chairman Ratan Tata over the political siege laid by the Trinamool Congress to the auto major’s Nano small car factory at Singur in West Bengal.

Leading software developer and business solution provider Tata Consultancy Services (TCS) has developed a new record keeping system for National Securities Depository Ltd (NSDL), India’s largest financial depository firm.

Eminent industrialist K.K. Birla died at his Birla Park residence here Saturday morning after a brief illness. He was 90 years old.

The dollar rose on Friday as it ended its best month in a over a decade, helping push oil prices lower as damage fears eased despite projections Gustav will barrel into the United States as a dangerous category 3 hurricane.

Oil and natural gas companies shut production across the Gulf of Mexico on Friday as they moved workers out of the path of Tropical Storm Gustav ahead of what could be the worst hurricane to strike the nation’s offshore oil patch since 2005.

Uttar Pradesh may become India’s largest sugar producer in the year to September 2009, overtaking Maharashtra, despite a likely fall in the output, a senior official in U.P. Sugar Mills Association, said.

Work at a plant in West Bengal that will make the Nano, billed as the world’s cheapest car, stopped on Friday after thousands of employees failed to turn up for work following protests by farmers, officials said.

Tata Motors, India’s top vehicle maker, will determine the pricing and other terms of its planned rights issues on Sept. 2, the company said in a notice to the stock exchange on Friday.

State-run Indian Oil Corp’s 120,000 barrels per day refinery at Barauni and related infrastructure have not been affected by massive floods in parts of Bihar, a company spokesman said on Friday.

Punjab Chemicals & Crop Protection Ltd, said on Friday that its board approved plans to acquire 70 percent stake in Parul Chemicals Ltd, which has an enterprise value of 90 million rupees.

India’s gold prices firmed up on Friday, slowing down the momentum of purchases, but dealers said dips could rekindle demand as consumers’ appetite remained strong in the festival season.

Intense selling in index heavyweight Reliance Industries and in bank stocks triggered a sell-off in late trade. The BSE 30-share Sensex lost 219.81 points as per provisional closing. The barometer index hit a low slightly above the psychological 14,000 level before cutting some of the steep losses. Volatility was high in second half of the […]

20 Microns, a pioneer and leader in the micronised minerals and trend setter in the market for usage of ultrafine minerals for the Paints & Plastic Industries, proposes to enter the capital markets on September 8, 2008 with a public issue of 43,50,632 Equity shares of Rs 10 each through 100% book building process. The […]

Tata Capital has appointed a former CLSA official to head its investment banking as it expands operations, the company said on Friday.

Indian cabinet on Friday approved introduction of a new companies bill 2008 in parliament aimed at tightening rules governing share sales by firms to their owners, a minister said.

India’s economy should grow close to 8 percent in the fiscal year ending March 2009, and the government will meet its fiscal deficit responsibility targets, Finance Minister Palaniappan Chidambaram said on Friday.

India’s economy grew a slower than expected 7.9 percent in the June quarter from a year earlier, easing from the previous quarter’s 8.8 percent as industrial activity slowed due to monetary tightening.

Profit taking in afternoon trade capped gains on the bourses. The BSE 30-share Sensex was up 404.65 points. Profit taking was set in after the market had extended gains from a strong start as slower-than-expected GDP growth in the Q1 June 2008 and softening of inflation raised hopes for a pause in monetary tightening by […]

No conclusion can be drawn from one week’s inflation number, Finance Minister Palaniappan Chidambaram told reporters on Friday when asked about a softening in India’s annual rate of inflation.

Gold gained to track strength in oil prices on Friday, hovering near its highest level in more than two weeks hit the previous day, but a firmer U.S. dollar may limit gains. Platinum dropped after rising more than 2 percent in New York in a rally driven by high gold prices rather than demand for […]

India and the 10-member Association of Southeast Asian Nations (ASEAN) Thursday concluded their talks for a far-reaching pact that will open up trade at reduced tariffs in a collective market comprising 1.7 billion people.

Steel maker Ispat Industries Ltd will mine iron ore in Brazil and coal in Columbia and Mozambique through joint ventures to meet its raw material requirements, a top company official said here Thursday.

State-run Bharat Petroleum Corp is acquiring a 10 percent stake in an offshore hydrocarbons exploration and production asset in Mozambique for $75 million, it was announced Thursday.

Indian ayurvedic medicine giant Dabur, whose Nepal subsidiary faced Maoists’ wrath for sponsoring the country’s biggest beauty pageant Miss Nepal, is now facing a lockout threat by labourers.

Sterlite Technologies Ltd Thursday said it has bagged contracts worth Rs.278 crore (Rs.2.78 billion) from the Power Grid Corp of India Ltd, Jaypee Powergrid, Rajasthan’s state electricity board, and the Ethiopian Electric Power Corp.

Microsoft has unveiled a trial version of a new Internet Explorer designed to fight the growing challenge from Firefox.

General Motors Corp plans to launch a new small car in India in the second half of 2009, but has no plans to take on Tata Motor’s low-cost Nano, its India head said on Thursday.