MUMBAI: Proxy advisory firm Stakeholders Empowerment Services (SES) has termed the proposed contract manufacturing deal between Maruti Suzuki and parent Suzuki Motor as favourable to the minority shareholder of the Indian carmaker. Its view comes after Institutional Investor Advisory Services (IiAS) recommended its clients to vote against the proposal, under which a wholly owned unit of the Japanese major would produce cars and supply to Maruti.

NEW DELHI: Reliance Communications % is set to sell its stake in tower unit Reliance Infratel in a deal which values the subsidiary at around Rs 22,000 crore and which will be announced within this week, people familiar with the matter said.

The sale of RCom's stake in Reliance Infratel to a private equity player would likely mark the complete exit of the fourth largest telecom services provider by customers from the telecom tower business in India.

The Securities and Exchange Board of India (Sebi) is concerned about low participation by retail investors in recent initial public offerings (IPOs), according to a Business Standard report. Should the market regulator be worried?

Last week, this newspaper pointed out that although IPOs in India have been fairly good at delivering short-term returns, long-term performance has been weak. Only three in every 10 stocks deliver double-digit annual returns in the long term.

New Delhi: At least 10 companies have paid Rs.2 lakh each to pick up the so-called invitation to tender, or ITT, documents to bid for the two new teams that will play in the 2016 and 2017 editions of the popular Indian Premier League (IPL) after the suspension of Chennai Super Kings and Rajasthan Royals earlier this year, according to top officials at the Indian cricket board.

Swinging back to black Lanco Infratech Ltd today posted a consolidated net profit of Rs 98.98 crore in the second quarter of the current fiscal after three years, due to tax reimbursements and favourable power tariff order.

The firm posted a loss of Rs 527.48 crore in the same period last year, Lanco Infratech Ltd (LITL) said in BSE filing.

India’s biggest capital goods company, Bharat Heavy Electrical (BHEL), has lost so much value that it now commands a market capitalisation smaller than that of Siemens India, reports fe Bureau in Mumbai. At Rs 42,894 crore, BHEL is now less valuable than Siemens, which commands a market cap of Rs 44,098.4 crore. At the start of 2015, the PSU was valued twice as much as the Indian subsidiary of the German multinational. But an 80% fall in Q1FY16 earnings, followed by a net loss of Rs 204.9 crore in Q2FY16, has prompted the Street to do a rethink.

NEW DELHI: The government has approved empanelling independent agencies to check the quality of coal supplied by Coal India Ltd (CIL) to power firms, Coal Secretary Anil Swarup said on Monday.

The coal ministry has also decided that power plants of public sector undertakings will get coal supply from CIL till their captive coal mines become operational.

Hyundai Motor India recorded a 6.6% decline in its net profit at Rs 1,035.04 crore for the financial year 2014-15, mainly due to higher outgo on account of royalty payments and depreciation. The second-largest car-maker in India saw its total income increase by 7.87% to Rs 27421.4 crore during the period.

According to the company’s filing with the Registrar of Companies, the total expenses stood 8.9% higher at Rs 25,925.1 crore with depreciation expenses and cost royalty surging 25.94% and 39.42%, respectively.

Hello Curry, a Hyderabad-based fast food chain start-up, has entered into a partnership with Indian Railway Catering and Tourism Corporation (IRCTC) to supply meal options to railway passengers.

"A majority of passengers do not have the time or the means to carry food for their journey duration. They are dependent on the options provided by local providers who vend fried snacks and/or confectionery that replace their lunch/dinner while on the train.

Lanco Infratech Limited today announced its subsidiary Lanco Solar Private Limited has signed an MoU with Chattishgarh to set up a 100-mw solar cell manufacturing unit in the state.

The company has already invested Rs 1,200 crore in integrated solar photo voltaic (PV) project, restarted in July this year. The project is being set up at a 250-acre SEZ in Rajnandgaon in Chattisgarh.

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