4,285,799 russian companies, updated December 16th, 2017

Business news

News digest: Exports rise 30%, Adani to build highways, and more

From exports rising to 30 per cent in November to millennials choosing Bitcoins over gold, BS brings you top stories to keep up with the latest news

December 15th, 2017 21:49

Adani group to foray into highway construction sector

Experts feel the timing of the company to enter the road construction sector is opportune as the infrastructure sector is on a growth path

December 15th, 2017 20:08

Amazon to pay $118 mn to settle Italy tax dispute: Report

In April, Milan tax police said it believed the world's largest online retailer had evaded 120-130 million euros of taxes in Italy

December 15th, 2017 17:54

ICICI Securities files IPO papers; ICICI Bank to dilute stake

The offer includes a reservation of up to 32.21 lakh shares for individual and Hindu Undivided Family (HUF) shareholders of ICICI Bank

December 15th, 2017 16:10

Renault India to hike prices of Kwid, Duster, Lodgy by up to 3% in January

French car major Renault today said it will increase prices of Kwid, Duster and Lodgy by up to 3 per cent from January to partially offset the impact of rising input costs. The company has however kept its recently launched premium SUV Captur out of the price revision. "The price hike will be applicable on Kwid, Duster and Lodgy...Reasons of the price hike are to partially offset the impact of rising input and freight costs," the company said in a statement. Yesterday, Mahindra & Mahindra and Volkswagen announced to increase prices of their respective vehicles in the country. While Mahindra announced to increase prices of passenger and commercial vehicles by up to 3 per cent from January, Volkswagen said it will hike prices by up to Rs 20,000. Already, Maruti Suzuki India, Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have announced price hike from early next year.

December 15th, 2017 16:02

BHEL gets Rs 7,300-cr EPC contract for power project in Tamil Nadu

This is the fourth order for supercritical sets finalised in the last three years by TANGEDCO, and all the four orders have been won by Bhel

December 15th, 2017 16:01

Bitcoin hits new record high as warnings grow louder

LONDON (Reuters) - Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 percent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument.

December 15th, 2017 13:07

SC extends time till Jan 25 for depositing of Rs 125 cr by Jaiprakash

JAL, which deposited Rs 425 crore with the apex court registry so far, had to deposit Rs 125 crore by December 31 and wanted a two-month extension

December 15th, 2017 13:03

Bank unions escalate protest against proposed FRDI Bill

Major bank unions across the country have upped their opposition to the proposed Financial Resolution and Deposit Insurance (FRDI) Bill, first opting for a preliminary depositors' signature collection campaign with plans to go for a nationwide strike in case the Bill is tabled in the winter session of the Parliament.Bank Employee Federation of India (BEFI), the third largest of the nine bank unions, will be holding a meeting on December 17 in Chennai to plan its future course of action post which an all-union meeting will be held to form a united forum to oppose the Bill."All the bank unions will be meeting to discuss the road ahead. In case the government pushes to pass the Bill in the winter session of the Parliament, we can go on strike", Pradip Biswas, general secretary of BEFI told Business Standard.Although various bank trade unions are opposing the Bill, there is no united opposition till now and the proposed inter-union meeting is set to arrive at a joint opposition movement ..

December 15th, 2017 12:41

Rs 2,600-cr package for leather and footwear industry to boost jobs: Govt

The government today approved a Rs 2,600 crore special package for employment generation in the leather and footwear sector, which has the potential to generate 3.24 lakh jobs in three years and assist in the formalisation of 2 lakh jobs. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here. The package involves implementation of central scheme 'Indian Footwear, Leather & Accessories Development Programme', with an expenditure of Rs 2,600 crore during 2017-18 to 2019-20. "The scheme would lead to development of infrastructure for the leather sector; address environmental concerns specific to the leather sector and facilitate additional investments, job creation and production," the government said. Moreover, the enhanced tax incentive would attract large-scale investments in the sector and reforms in labour laws in view of seasonal nature of the sector will support economies of scale, it said. The package has the ...

December 15th, 2017 12:34

GAIL to sign pacts with Tata Steel, JSPL, Vedanta for gas supplies

GAIL (India) Ltd will enter into pacts with aluminum and steel majors in Odisha for supply of natural gas from December 2019. The gas major will sign term sheets with companies including Steel Authority of India Ltd (Rourkela), Tata Steel (Kalinganagar), Vedanta (Jharsuguda), Jindal Stainless Ltd (JSL), Jindal Steel and Power Ltd (JSPL) and Indian Metal and Ferro Alloys (IMFA). The memorandum of understanding (MoUs) with the companies would be signed on the occasion of the laying of foundation stone for new Dhamra-Angul 36 inch main line and Bhubaneswar-Cuttack-Paradip 12 inch spur line on December 17 by Dharmendra Pradhan, Union minister of petroleum & natural gas and skill development & entrepreneurship. "Our marketing team has identified 11 industries for supply of natural gas. We will sign the MoUs on the occasion. Together, 1.2 million standard cubic meters a day (mmscmd) gas will be supplied to these industries", said Ashutosh Karnatak, director (projects), .

December 15th, 2017 12:26

NSE to auction investment limits for Rs 3,000-cr govt bonds

The auction will be conducted on NSE's e-bid platform from 1530 hrs to 1730 hrs after the close of market hours, the exchange said

December 15th, 2017 11:40

Shalby makes sluggish debut after Rs 504-cr IPO; stock lists 3.5% lower

In terms of equity volume, 18.05 lakh shares of the company were traded on BSE and over 10 million shares changed hands at NSE during the day

December 15th, 2017 11:30

YES Bank to be included in BSE Sensex from Dec 18

Yes Bank will join the list of 30 most tracked stocks in the bellwether index S&P BSE Sensex from next week. Yes Bank will be included in the S&P BSE Sensex comprising of 30 companies with effect from December 18, 2017, Yes Bank said in a regulatory filing. The S&P BSE Sensex measures performance of the 30 largest, most liquid and financially sound companies across key sectors that are listed on BSE. Shares of the bank were trading 3.08 per cent up at Rs 313.25 on BSE.

December 15th, 2017 11:20

Dr Reddy's extends gain ; up 9% in one week

The company on Monday, December 11, announced that it has received EIR from the US drug regulator for its facility in Bachupally, Hyderabad following the audit in April

December 15th, 2017 09:57

Google's X Labs to share FSOC technology for Andhra's fiber grid

Through this network, the state government promises to give 10-20 Mbps connectivity for all households and 1-10 Gbps for institutions and multi-dwelling units

December 15th, 2017 09:37

Metal shares gain; Vedanta up 5%

At 02:35 PM; Nifty Metal index, the largest gainer among sectoral indices, was up 2.6% at 3,663 compared to 0.88% rise in Nifty 50 index

December 15th, 2017 09:16

GMR-Megawide lowest bidder for $250-mn Clark International Airport project

The GMR Group today said it along with its partner Philippines-based Megawide Construction Corporation emerged as the lowest bidder for the USD 250 million Clark International Airport project in the southeast Asian nation. Clark airport is being developed by Government of Philippines through a hybrid model with EPC and O&M tenders being issued separately. According to a statement issued by GMR, the EPC project scope involves design, construction, testing and commissioning of a new terminal with a capacity of eight million passengers per annum. The consortium will construct the integrated terminal along with specified landside facilities like car parks. The Consortium expects to receive the Notice of Award within one week, it said. Clark International Airport, formerly known as the Diosdado Macapagal International Airport, is in Pampanga province of Philippines and is about 100 km from the capital Manila. This is the second airport project which GMR Group will be ..

December 15th, 2017 08:11

Mahindra & Mahindra hits fresh 52-week high

The company announced that it plans to increase prices of its passenger and commercial vehicles by up to 3% with effect from January 1, 2018

December 15th, 2017 06:49

Future Consumer, Waterbase, Gufic Biosciences hit record high

Century Plyboards, Lumax Auto Technologies, Relaxo Foodwear, Waterbase and NRB Bearings were among 15 stocks from the S&P BSE Smallcap index hit their respective record highs on the BSE.

December 15th, 2017 06:15

Renaissance Jewellery zooms 20% on robust Q2 results

The stock locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in Q2FY18

December 15th, 2017 05:19

HDFC Bank hits new high on fund raising plans

The stock hit a new high of Rs 1,887, up 2.7% on the BSE, after the bank announced that its board will meet on Wednesday, December 20, 2017 to consider a proposal for raising of funds

December 15th, 2017 04:19

Moves in South Korea to make cryptocurrency trading more transparent

SEOUL (Reuters) - A South Korean blockchain association announced on Friday measures to boost transparency in trading of cryptocurrencies, agreed by 14 exchanges in the country including the world's busiest virtual currency exchange, Bitthumb.

December 15th, 2017 03:33

Forex reserves don't work in absence of capital controls, says Acharya

In the case of Masala bonds, RBI's guidelines were more relaxed compared with ECB guidelines as the rupee-denominated bonds did not carry currency risk

December 14th, 2017 19:53

Fox's Star might give Disney an edge over Amazon and Netflix in India

Fox projects it will earn $500 million before interest, taxes, depreciation, and amortization in fiscal 2018, rising to $1 billion in 2020

December 14th, 2017 17:44

Vedanta to raise Rs 500 crore via NCDs

Vedanta Ltd is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore

December 14th, 2017 16:22

HDFC invokes nearly 82 mn pledged Unitech shares

Unitech's share price closed marginally up at Rs 6.67 apiece on the BSE today. The company's market cap stood at around Rs 1,750 crore

December 14th, 2017 16:16

Tata Group, GE partner to manufacture Leap engine components in India

The two companies also announced their intention to jointly pursue military engine and aircraft system opportunities for the India market

December 14th, 2017 13:27

Mahindra to hike vehicles prices by up to 3% from January

Utility vehicle major Mahindra & Mahindra (M&M) today said it will increase prices of its passenger and commercial vehicles by up to 3 per cent from January. "We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase," M&M President - Automotive Sector Rajan Wadhera said in a regulatory filing. The company sells a range of vehicles, including SUVs Scorpio and XUV500, in the country. Yesterday, Maruti Suzuki India said it will raise prices of its entire range by up to 2 per cent from next month. Various other automakers such as Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have also announced their decision to hike prices from early next year.

December 14th, 2017 13:15

Apple invests $390 million in iPhone laser manufacturer Finisar

The fund was awarded to increase the production of vertical-cavity surface-emitting lasers, which power Apple's new features such as Portrait mode selfies and Animoji

December 14th, 2017 09:10

Microsoft introduces AI in Bing, office 365; partners Reditt

Microsoft said Bing's newest features, Intelligent Answers, Advanced Image Search and Conversational Search now leverage AI to provide the most relevant results and search capabilities

December 14th, 2017 08:35

Netflix in set-top boxes too? Co to integrate with cable operators in India

In March, the online video streaming service enabler collaborated with Bharti Airtel and Videocon to integrate Netflix services in to their direct-to-home (D2H) set-top boxes

December 14th, 2017 08:22

Real estate firm K Raheja under I-T lens for tax evasion

I-T department is examining the books of Hypercity and other group companies of the conglomerate to see if there is any discrepancy in the transaction

December 14th, 2017 08:17

Tech Mahindra hits 52-week high in weak market

The stock hit a 52-week high of Rs 517 on the BSE in intra-day trade, rallied 33% in past five months against 3% rise in S&P BSE Sensex.

December 14th, 2017 06:33

Oberoi Realty gains as brokerage initiates coverage with 'buy' rating

The stock was up 6% to Rs 481 on the BSE in early morning trade after the brokerage firm Motilal Oswal Securities initiates the coverage with 'buy' rating on the stock.

December 14th, 2017 05:18

Nifty can dip to 9,700 levels if BJP disappoints in Gujarat, say analysts

Markets are likely to remain choppy over the next two trading sessions as they react to the exit poll outcome (Friday) and the counting of votes (Monday) for the recently held assembly elections in Himachal Pradesh and Gujarat.After a stellar rise of around 26% thus far in calendar year 2017 (CY17), the benchmark indices - S&P BSE Sensex and the Nifty 50 - have remained flat with a marginal fall of 0.22% each in December.Going into the state election results, opinion polls suggested that the Narendra Modi - led Bharatiya Janata Party (BJP) will wrest control from the Indian National Congress (INC) in Himachal Pradesh (HP) and will retain Gujarat, although with fewer seats than in 2012. The outcome of the state elections, experts say, is likely to be viewed as a referendum on Prime Minister Modi's performance, especially the implementation of goods and services tax (GST) bill and could have an impact on future economic policy decisions."The base-case scenario is that the BJP will ..

December 14th, 2017 05:00

Vodafone case: SC to hear Centre's plea challenging Delhi HC order today

Delhi High Court had given a nod to two entities of Vodafone to go ahead and participate in the process for the appointment of presiding arbitrator

December 14th, 2017 04:34

Natco Pharma extends gain after QIP launch

The stock rallied 5% to Rs 1,013 on the BSE in intra-day trade, up 9% in past four trading sessions as compared to 0.57% decline in the S&P BSE Sensex.

December 14th, 2017 04:26

Key takeaways from Federal Reserve's December policy meet

This was the third rate hike this year with the Fed sticking to its projection for three rate increases next year, while keeping a close look at inflation data.

December 14th, 2017 03:57

Tata Communications surges 9% as board approves demerger of surplus land

The stock surged 9% to Rs 758 on the BSE after the company said the board approved demerger of around 773 acres of surplus land to a separate company and listing it subsequently.

December 14th, 2017 03:50