India News

Larsen & Toubro bags new orders worth Rs 1,247 crore

Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 1,247 crore across business verticals.

"The construction arm of L&T has won orders worth Rs 1,247 crore in the buildings and factories and power transmission and distribution businesses," the engineering and construction major said in a BSE filing.

TVS Motor withdraws appeal on self locating ignition lock

TVS Motor has withdrew its appeal on patent for a 'self locating ignition lock assembly', which is designed to help the driver or any other person to locate the ignition lock in the darkness using a fluorescent substance, from the Intellectual Property Appellate Board (IPAB).

The company said that it would continue to provide the feature where ever it is appropriate and others can also benefit from the claimed invention.

Sebi tightens debt investing norms for mutual funds

The Securities and Exchange Board of India (Sebi) on Monday announced tighter norms governing mutual fund investments in debt securities. The regulator has reduced single security exposure, sector exposure and group exposure for debt schemes.

The move comes within months of a crisis at JPMorgan Asset Management Company due to a payment default on debentures by Amtek Auto.

Sensex closes 109 points down as China jitters continue, Nifty settles above 7,560

The BSE Sensex pared some losses after falling over 300 points in the early trade on Monday and closed 109.29 points down at 24,825.04 following weak global cues. NSE Nifty settled 37.50 points down at 7,563.85.

In the 50-share index, Vedanta, Reliance Industries, Tata Motors, Grasim and Maruti Suzuki gained between 1.65 per cent and 4.90 per cent. On the other hand, Wipro, Mahindra & Mahindra, Adani Ports, Tech Mahindra and Dr Reddy’s Labs slid between 2.70 per cent and 3.50 per cent.

BSNL to provide dedicated network to police during Simhastha

Bharat Sanchar Nigam Limited (BSNL) will provide dedicated network to policemen during the upcoming Simhastha to be held in Ujjain in April 2016.

“We will provide them dedicated CDMA network which will be untraceable and free from any disturbance or congestion,” said G C Pandey, chief general manager, BSNL (Madhya Pradesh).

TCS likely to report decent revenue growth despite Chennai flood drag

As Tata Consultancy Services (TCS), India's largest IT services company kickstarts the earning season on Tuesday for the December quarter, its financial numbers are expected to be keenly watched out for given that the Mumbai-headquartered company had earlier hinted its revenue growth to be impacted because of the disruption of works due to Chennai floods.

In December last year, the company had said that it was 'expecting material impact' on the company's revenues as the torrential rains and subsequent floods in Chennai impacted the normal functioning of its offices. Industry analysts however don't expect much of a pressure on the company's growth in October-December period of FY16.

Indian Oil to spend Rs4,000 crore on Paradip refinery upgrade

Paradip,India: Indian Oil Corp. aims to invest Rs.4,000 crore in upgrading its newest refinery in the eastern part of the country after the central government decided to bring forward by four years the introduction of road vehicle fuels which are compliant with Euro VI emission standards to April 2020, a senior company executive said on Sunday.

BHEL commissions 520 MW thermal power unit in Andhra Pradesh

NEW DELHI: State-run Bharat Heavy Electricals Ltd (BHEL) on Monday said it has commissioned a 520-mw coal-based thermal power unit in Andhra Pradesh.

"The unit has been commissioned at the 2x520 mw Vizag Thermal Power Project of Hinduja National Power Company Limited (HNPCL), Visakhapatnam," the company said in a statement.

Mercedes has recovered from VW diesel hit: Dieter Zetsche

Mercedes-Benz has recovered from an initial hit to sales of its diesel vehicles due to the Volkswagen emissions-cheating scandal, Daimler Chairman Dieter Zetsche has said.

"For some time the entire industry was affected" by the VW scandal, Zetsche, who is also head of Mercedes-Benz Cars, said on the sidelines of the Detroit auto show.

SBI, L&T, ICICI Bank, BHEL hit fresh 52-week lows

Shares of seven companies in the Nifty 50 index have touched their respective 52-week lows after the benchmark index fell more than 1% on the National Stock Exchange (NSE) in early morning trade as concerns about China and global economic slowdown persisted.Adani Ports & Special Economic Zone (SEZ), Bharat Heavy Electricals Limited (BHEL), Bank of Baroda (BOB), ICICI Bank, Larsen & Toubro (L&T), Punjab National Bank (PNB) and State Bank of India (SBI) from the Nifty 50 index hit 52-week lows on the NSE in intra-day trade. Most of these stocks were trading down in the range of 2%-3% at 09:23 a.m.