State-owned Oil and Natural Gas Corp (ONGC) on Wednesday said it has bought government's entire 51.11 per cent stake in oil refiner HPCL for Rs 369 billion.

In a regulatory filing, ONGC said it bought 778.8 million shares in Hindustan Petroleum Corp Ltd (HPCL) for Rs 473.97 per share.

Suzuki’s Hansalpur plant in Gujarat has emerged as the state’s largest manufacturer of cars in less than two years of it commencing operations. It has consequently also overtaken the Sanand unit of Ford and Tata Motors in volume.

The Hansalpur unit became operational in early 2016 with the production of Baleno, a bestseller from Maruti. The plant is now getting ready to manufacture the new Swift hatchback.

Global coal prices have been on a steady rise in the last few months, increasing cost pressure for thermal power producers in the country. This is happening as they struggle with lower offtake for the power they generate.

The price of 4,200 kcal/kg grade coal, which is a very popular grade bought by both India and China, has surged 33% to $49.25 per tonne as of Friday, compared with the start of 2017 when it was assessed at $37 per tonne, Platts data shows.

Indian industrial group Larsen & Toubro Ltd reported a 53 per cent rise in third-quarter profit, beating analysts' expectations, as new orders rose, mainly in the infrastructure and hydrocarbon segments.

Net profit rose to Rs 14.90 billion ($234.20 million) in the quarter ended Dec. 31, from 9.72 billion rupees a year earlier.

Mumbai: Shares of Reliance Communications (R-Com) on Tuesday jumped nearly 10.5 per cent after the company managed to narrow its consolidated loss to Rs 130 crore for the quarter ended December 2017.

The R-Com scrip gained 10.46 per cent, or Rs 2.85, to end at Rs 30.10 on the BSE. During the day, it rose around 19 per cent to Rs 32.40.

New Delhi: More domestic airlines could show interest in Air India, the soon to be privatized state-run airline, aviation consulting firm Capa said in its outlook for 2018-19.

“Up to four Indian carriers could express interest—Jet Airways, IndiGo, SpiceJet and Vistara,” Capa said in a report released in Mumbai on Tuesday.

With call drops still remaining a problem, telecom operators like Bharti Airtel and Reliance Jio on Tuesday assured the government that they will invest a total of Rs 74,000 crore in the coming fiscal to upgrade and expand their infrastructure. Telecom secretary Aruna Sundararajan, who held a meeting with the CEOs of the telecom firms, said they presented their analysis of call drops which showed that it has stabilised but other problems like fading of voice calls have increased due to various issues, including some mobile phones not complying with required certification norms.

Firms linked to Lanco Infratech — some of them subsidiaries — have registered claims of a whopping Rs 7,164.5 crore with the resolution professional (RP) of the company, documents reveal. This claim is bigger than that of all other operational creditors put together. In other words, there is a chance that Lanco will get back — via these enterprises — a chunky amount during the recovery process. Moreover, documents show that an amount of Rs 4,324.65 crore or 60%, of the claims has so far been admitted by the RP.

Even as life as well as non-life insurance industry have registered positive growth in the last few years, a lot needs to be done, especially in the general insurance space, insurance regulator Irdai said on Tuesday. In order to further boost the insurance sector, the Insurance Regulatory and Development Authority of India (Irdai) is set to give new licences to various players in non-life, health and re-insurance. “Today compared to many other countries, our penetration as well as growth is good.

To achieve the target of achieving 100 gigawatt (GW) of installed solar energy capacity by 2022, the Central government has invited tenders for 2,000 MW of solar power projects connected to the inter-state transmission system. The Solar Energy Corporation of (SECI) would sign 25-year power purchase agreements (PPAs) with the winning bidders and sell the power to electricity distribution utilities (discoms). The ceiling tariff has been set at Rs 2.93 per unit.

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