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After SpiceJet, IndiGo enters fare war

New Delhi, Sep 2 : Budget carrier IndiGo Tuesday started promotional air fares by offering discounted one-way fares starting at a low of Rs.999 (all inclusive one-way fare), a day after SpiceJet started its offer of Rs.499 one-way charge.


Sensex closes above 27,000-mark

Mumbai, Sep 2 : A benchmark index of Indian equities markets breached the 27,000-mark for the first time to hit a record high of 27,082.85 points Tuesday -- surpassing its previous peak of 26,900.30 points scaled Sep 1.


GSM rural subscribers at 303.10 mn in July: COAI

New Delhi, Sep 2 : All India GSM rural subscriber numbered 303.10 million in July, up 0.12 percent from the previous month, a statement by the Cellular Operators' Association of India (COAI) said here Tuesday.


Tata Motors bags order for 2,700 buses

Mumbai, Sep 2 : Automobile major Tata Motors Tuesday said that it has bagged an order of over 2,700 'Urban' buses under the Jawaharlal Nehru National Urban Renewal Mission (JnNURM)- II scheme.


Bharti Airtel launches music streaming app Wynk

New Delhi, Sep 2 : Bharti Airtel has launched Wynk Music, a carrier agnostic music streaming mobile application, with a music library of over 1.7 million songs including Hindi, regional and international hits, an official said Tuesday.


Sensex, Nifty touch record highs

Mumbai, Sep 2 : A benchmark index of Indian equities markets breached the 27,000-mark for the first time to hit a record high of 27,082.85 points Tuesday -- surpassing its previous peak of 26,900.30 points scaled Sep 1.


GMR Infra signs MoU with Japan Bank for International Cooperation

Hyderabad, Sep 2 : GMR Infrastructure Tuesday said it has signed a Memorandum of Understanding (MoU) with the Japan Bank for International Cooperation (JBIC) for giving financial assistance to Japanese companies investing in infrastructure projects of GMR Group.


Private non-financial firms' sales contracted in 2013-14: RBI

Chennai, Sep 2 : The total sales of non-financial private corporate sector in 2013-14 declined due to lower sales growth in the manufacturing sector while the services sector logged sales growth, according to a study by the Reserve Bank of India (RBI).


RBI revises Basel III norms, cuts capital maturity to 5 years

New Delhi, Sep 2 : The Reserve Bank of India (RBI) has issued the revised and final guidelines for raising non-equity regulatory capital instruments by banks required by the Basel-III norms, under which lenders can issue tier-2 capital with a minimum original maturity of five years as against 10 years.


Bajaj Auto's August sales up eight percent

Mumbai, Sep 2 : Two-and-three wheeler manufacturer Bajaj Auto Tuesday reported an increase of eight percent in its sales for August which stood at 336,840 units against 312,188 units sold in the like month of 2013.


India PC shipments in Q2 plunges 28 percent YOY

Washington, Sep 1 : Recent findings from IDC shows that India PC shipment stands at 2.55 million units in second quarter, plunging 28 percent year-on-year but rising of 24 percent quarter-on-quarter.


UBI terms Kingfisher, Mallya wilful defaulters; airline protests

Kolkata, Sep 1 : State-run United Bank of India (UBI) Monday declared the defunct Kingfisher Airlines, its promoter Vijaya Mallya and its three directors as wilful defaulters after they did not turn up for a meeting with its grievances redressal panel, an official said.


Honda Motorcycle and Scooter logs 26 percent sales growth

Chennai, Sep 1 : Japanese two wheeler maker Honda Motorcycle and Scooter India (HMSI) closed last month with 26 percent sales growth compared to figures logged during August 2013, the company said.


August sales a mixed fare for automobile companies

New Delhi/Chennai, Sep 1 : It was a mixed bag for automobile makers in August with some like Maruti Suzuki, Ashok Leyland and TVS Motors logging overall growth while others are on the reverse gear waiting for the festival season to perk up the sales.


Sensex, Nifty touch record high

Mumbai, Sep 1 : A benchmark index of Indian equities markets hit a record high of 26,900.30 points Monday, surpassing its previous peak of 26,674.38 points scaled Aug 28. The index hit the record high before closing at 26,867.55 points.


Manoj Adlakha appointed American Express India business CEO

New Delhi, Sep 1 : Multinational financial services corporation American Express has appointed Manoj Adlakha as chief executive officer, American Express Banking Corp.(AEBC), India, a company statement said here Monday.


Mahindra's August sales down 7 percent

Mumbai, Sep 1 : Automobile manufacturer Mahindra Monday reported a decline of seven percent in its sales during August at 35,175 units from 37,897 units during the same month of last year.


Hyundai's August sales down 8 percent

Chennai, Sep 1 : Automobile manufacturer Hyundai Motor India Monday reported a fall of eight percent in its sales for August at 48,111 units from 52,319 units in the corresponding month of last year.


Wipro to expand presence in Oman

Bangalore, Sep 1 : Indian IT bellwether Wipro Ltd. Monday announced expanding its presence in Oman to meet its growing business needs.


Sensex, Nifty hit record high

Mumbai, Sep 1 : A benchmark index of Indian equities markets hit a record high of 26,888.13 points Monday, surpassing its previous peak of 26,674.38 points scaled Aug 28.


Maruti Suzuki's August sales up 26.9 percent

New Delhi, Sep 1 : India's largest passenger car manufacturer Maruti Suzuki Monday reported a healthy sales growth of 26.9 percent in total sales, including exports, for August at 110,776 units.


Hyundai's August sales down 8 percent

Chennai, Sep 1 : Automobile manufacturer Hyundai Motor India Friday reported a fall of 8 percent in its sales for August at 48,111 units from 52,319 units in the corresponding month of last year.


Markets at record high; Nifty crosses 8,000-mark

Mumbai, Sep 1 : A benchmark index of Indian equities markets Monday hit a record high of 26,854.08 points, surpassing its previous high of 26,674.38 points of Aug 28.


Insurers thank competition panel for taking on car makers

By Venkatachari Jagannathan, Chennai, Sep 1 : Officials of non-life insurance companies have welcomed the orders of Competition Commission of India (CCI) slapping a heavy fine on 14 car makers indulging in restrictive practices which cost the insurers and vehicle owners heavily.


Reliance Capital gets Nippon Life as partner for bank venture

Tokyo, Sep 1 : Reliance Capital, a part of the Anil Dhirubhai Ambani Group, and the Japanese financial services major Nippon Life Insurance Monday announced their decision to jointly start a commercial bank in India after necessary approvals.


Reliance Cap-Nippon Life launch two funds, eye bank in India

Tokyo, Sep 1 : The Anil Ambani-led Reliance Capital and Nippon Life Insurance Group Monday announced two funds for Japanese investors in the Indian equity and bond markets and to jointly start a commercial bank when permission comes from Indian authorities.


Markets at record high; Nifty crosses 8,000-mark

Mumbai, Sep 1 : A benchmark index of Indian equities markets Monday hits record high of 26,807.90 points surpassing its previous high of 26,674.38 points hit Aug 28.


Global private equity eyes Indian real estate: report

Bangalore, Aug 31 : Post-general elections with a stable federal government at work, global private equity (PE) players find real estate in India worth investing for good returns, an international realty services firm said Sunday.


L&T to build 5,000 toilets as part of CSR

New Delhi, Aug 31 : In a corporate social responsibility initiative, infrastructure conglomerate L&T will build 5,000 toilets, the company announced Sunday.


RIL returns Haryana SEZ land citing withdrawal of concessions

New Delhi, Aug 31 : Reliance Industries (RIL) Sunday said it has returned around 1,384 acres of land in Gurgaon acquired for its special economic zone on the grounds that withdrawal of the concessions offered to SEZs has made such projects unviable.


'Petrol price cuts a boost for less polluting cars'

New Delhi, Aug 31 : The narrowing gap between petrol and diesel prices will hopefully push people towards less polluting petrol-run cars, citizens in the national capital say.


Indian M&A market grew by 12 percent: EY report

New Delhi, Aug 31 : The Indian mergers and acquisitions market registered an increase of 12 percent with disclosed deal value worth $22.6 billion in FY14 from $20.1 billion seen last year, said global advisory services firm Ernst & Young (EY)


Indian Bank opens 7.58 lakh Jan Dhan Yojana accounts

Chennai, Aug 30 : Public sector lender Indian Bank Saturday said it has opened 758,000 basic savings bank deposit (BSBD) accounts under the Pradhan Mantri Jan Dhan Yojana.


Industry body welcomes Jaitley's remarks on faster growth

New Delhi, Aug 30 : Industry body Confederation of Indian Industry (CII) Saturday welcomed Finance Minister Arun Jaitley's address on the occasion of the government completing 100 days in office.


Essar sells Kenya telecom business for $120 million

Nairobi, Aug 30 : Essar Capital Saturday announced the signing of binding agreements with Safaricom and Airtel for the sale of its telecom business in Kenya for $120 million.


Essar Capital sells telecom business in Kenya for $120 million

Nairobi, Aug 30 : Essar Capital Saturday announced the signing of binding agreements with Safaricom and Airtel for the sale of its telecom business in Kenya for $120 million.


Forex reserves down $1.98 billion till Aug 22

Mumbai, Aug 30 : India's foreign exchange reserves fell by $1.98 billion to $318.57 billion till the week ended Aug 22.


FPIs invested $3.87 billion in Indian markets in August

Mumbai, Aug 30 : Foreign Portfolio Investors (FPIs) continued to invest in the Indian equities market as they bought shares worth $3.87 billion in August, with the trade for the week ended Aug 28 at yet another record high.


Sensex makes weekly gains amidst strong investor sentiments (Weekly Review)

Mumbai, Aug 30 : Expectations of stable GDP growth figures coupled with an overall expectation of further reform and quick notifications for the hike in foreign capital limits in defense and railways led to positive investor sentiments in the Indian equities market which made gains in the week ended Aug 28.


Naya Ventures to invest in seven firms in India

Hyderabad, Aug 30 : Naya Ventures, a $50 million start-up entrepreneur-venture fund, is set to invest in seven companies in India in the next one to two years.


India Inc welcomes upswing in quarterly GDP data

New Delhi, Aug 29 : India Inc. Friday welcomed the upswing in the quarterly gross domestic product (GDP) figures which were released today, and said the numbers indicated economic recovery.


In signs of revival, Indian economy expands 5.7 percent

New Delhi, Aug 29 : Beating expectations and showing another sign of revival, the Indian economy expanded by 5.7 percent during the first quarter of the current financial year to log the highest growth yet in nine quarters or over two years, official data showed Friday.


Signs of revival as Indian economy expands 5.7 percent

New Delhi, Aug 29 : Beating expectations and showing another sign of revival, the Indian economy expanded by 5.7 percent during the first quarter of the current financial year to log the highest growth yet in nine quarters, official data showed Friday.


India's forex reserves decline by $810 million

Mumbai, Aug 29 : India's foreign exchange reserves fell by $810.7 million to $318.57 billion due to a decline in the currency assets for the week ended Aug 22, Reserve Bank of India (RBI) data showed.


'Cloud computing offers significant benefits for corporates'

Mumbai, Aug 29 : Majority of the decision makers in Indian corporates have ranked business intelligence as the major use of big data. They also agree that cloud computing and big data can give significant impact for their business.


FIIs continue as net buyers in Indian equities

Mumbai, Aug 29 : Foreign institutional investors (FIIs) continued to invest in the Indian equities market which closed trade for the week ended Aug 28 trade at yet another record high.


Sensex makes weekly gains (Weekly Review)

Mumbai, Aug 29 : Healthy buying by foreign investors coupled with an overall expectation of further reform push by the new government led to the Indian equities market making gains in the week ended Aug 28.


'India needs Financial Conditions Index'

Chennai, Aug 29 : Changes in financial market variable have an impact on the real market but the launch of several financial products has resulted in more variables to account for in economic estimates, stated a research paper put out by the Reserve Bank of India (RBI).


Bank of America-Merill Lynch sees RBI cutting rates in 2015

New Delhi, Aug 28 : The Reserve Bank of India (RBI) is expected to cut rates by 75-100 basis points starting early 2015, Bank of America-Merrill Lynch (BofA-ML) said in a report Thursday.


PC market better than expected: IDC report

Washington, Aug 28 : The global PC market has recently shown dreary results, but it still managed to do better than expected.


Adani buys Australian mine future royalty rights for $145 mn

Mumbai, Aug 28 : Adani Enterprises Thursday agreed to pay Australian dollars 155 million ($145 million) to Linc Energy of Australia to buy out the Australian firm's rights to future royalties from Adani's Carmichael coal project.


RBI relaxes foreign transaction norms for buying government bonds

Mumbai, Aug 28 : The Reserve Bank of India (RBI) Thursday said foreign investors can now buy government bonds in secondary markets from mutual funds, banks or other dealers.


BMW launches SUV X3 at Rs.44.90 lakh

New Delhi, Aug 28 : Luxury automobile manufacturer BMW Thursday launched a new variant of its sports utility vehicle (SUV) X3 priced between Rs.44.90 lakh and Rs.49.90 lakh.


Mahindra to further invest Rs.4,000 crore at its Chakan plant

Mumbai, Aug 28 : Automobile manufacturer Mahindra and Mahindra Thursday announced its plans to make an additional investment of Rs.4,000 crore at its Chakan plant in Maharashtra.


Micromax bags BCCI title sponsorship rights

Mumbai, Aug 28 : Mobile phone manufacturer Micromax Informatics Ltd. Thursday bagged the title sponsorship rights for all of BCCI's international and domestic tournaments to be played in India for the 2014-15 season for a fee of Rs.18.01 crore.


Sensex hits record high; posts seventh consecutive monthly gain

Mumbai, Aug 28 : A benchmark index of Indian equities markets Thursday hit a record high of 26,674.38 points before closing the day's trade at 26,638.11 points -- in yet another record.


"No material impact of Competition Commission fine'

Chennai, Aug 28 : Car maker Hindustan Motors Ltd Thursday said there will not be any material impact on the company by the fine of Rs.13.85 crore levied on it by the Competition Commission of India (CCI).


Sensex hits record high; capital goods stock gain

Mumbai, Aug 28 : A benchmark index of Indian equities markets Thursday hit a record high of 26,674.38 points before closing the day's trade at 26,638.11 points -- in yet another record.


RBI to release annual GDP data Friday

New Delhi, Aug 28 : With the Reserve Bank of India (RBI) due to release the GDP (gross domestic product) figures Friday, growth in the current fiscal is expected top 5.5 percent as predicted by the country's central bank.


Sensex scales new high; oil and gas stocks surge

Mumbai, Aug 28 : A benchmark index of Indian equities markets Thursday hit a record high of 26,674.38 points surpassing its previous high of 26,630.74 points it touched Aug 25.


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