India News

Reliance Industries nears 52-week high

Shares of Reliance Industries (RIL) moved higher by 3% to Rs 1,055 on the National Stock Exchange (NSE), is less than 2% away from its 52-week high of Rs 1,068 touched on July 23 last year in intra-day trade.

At 11:03 a.m. the Nifty 50 index was down 1% at 7,549 after hitting a 52-week low of 7,494 in early morning trade on the NSE.

Ashok Leyland gains on vehicle order from Zimbabwe govt

Shares of Ashok Leyland were up over 1% at Rs 92 on the Bombay Stock Exchange in an otherwise weak market after the company announced that it has received an order from the Zimbabwe government.

The order for 680 Vehicles and Spare Parts, worth US $50 million is from the Ministry of Local Government, Public Works and National Housing, Government of Republic of Zimbabwe, the company said in a release.

Lanco Infratech gains as arm commences operations at Vijaywada unit

Shares of Lanco Infratech was up over 5% at Rs 7.34 on the Bombay Stock Exchange after the company said its arm had started operations at Vijaywada unit.

Lanco Kondapalli Power Limited, a subsidiary of the company, has started commerical operations of the 371 Mw unit of Kondapalli Power Project at Vijayawada in Andhra Pradesh from January 09, 2016, the company said in a release.

Air India to recruit 530 type-rated pilots on contract

In one of the biggest pilot recruitment drives, state-run Air India will hire about 530 type-rated pilots on contract for the carrier’s narrow-body fleet, expected to grow to about 80 aircraft by March 2018.

The present strength of this fleet is 66.

Blast in Meghalaya leaves at least seven injured

At least seven persons, including a woman, were injured when proscribed Garo National Liberation Army militants triggered an IED blast in Meghalaya's East Garo Hills district today.

The moderate intensity blast occurred near a wine shop in in Williamnagar bazar. The seven injured were shifted to civil hospital for treatment, Inspector General of Police (Operations) G H P Raju said.

PM Modi visits Pathankot air base; briefed on terror attack

Prime Minister Narendra Modi was on Saturday briefed by senior defence and security officers about the terrorist attack, carried out by suspected Pakistani terrorists last week, on the Pathankot IAF base.

The prime minister arrived here on Saturday morning for an assessment of the attack.

AP gives 10-year VAT waiver to Foxconn facility

The Andhra Pradesh government has extended a host of incentives, including a complete waiver of value added tax (VAT) for 10 years, for a mobile telephone manufacturing facility set up at Sri City in May last year by Foxconn, the Taiwanese multinational electronic contract manufacturing company.

Sri City is 575 km from here and about 70 km north of Chennai, just off National Highway 5. The company had said it would invest Rs 100 crore at this facility, to build a capacity to produce two million handsets a year and employ about 2,000 people, mostly women, by the end of 2015. It has already been producing a number of models for various mobile phone brands, including Xiaomi.

Chhota Rajan has special relationship with Indian government, claims former top cop

Former Delhi police commissioner Neeraj Kumar has claimed that the Indian government has a special relationship with underworld don Chhota Rajan, who was deported from Bali in November last year. Kumar made the assertion during a session at the Delhi Literature Fest late last evening with journalist Avirook Sen.

“The short answer- yes there is,” Kumar said to Sen’s question. Kumar reiterated his statement when session moderator Madhu Trehan asked him whether this was a fact or just hearsay.

LIC to launch Jeevan Shikhar, close-ended plan

Life Insurance Corporation of India (LIC) is launching a close ended plan 'Jeevan Shikhar' which would be open for sale from January 11 to March 31, 2016. It is a non-linked, with profits, single premium plan wherein the risk cover is ten times of tabular single premium providing a combination of savings and risk cover.

Under this plan, the proposer/Life assured will have an option to choose the maturity sum assured and the single premium payable will depend on the chosen amount of maturity sum assured and the age of the assured. The plan is available from ages 6 years to 45 years.

Mercedes sells 13.5K units in 2015, to launch 12 products this year

German luxury carmaker Mercedes- Benz today said it posted record sales of 13,502 units in India last year as compared with 10,201 units in 2014, a significant jump of 32%, and is planning to add 12 'fascinating' new products to its portfolio in 2016.

By registering sales of 13,502 units in the January- December 2015 period, the company also achieved its highest sales volume in a single calendar year in India ever since its inception, Mercedes-Benz India said in a statement.