Sunil Hitech Engineers Limited (SHEL) has received contract worth Rs 183.03 crores from NTPC Limited for ash dyke package for its Kudgi Super Thermal Power Project, Stage-I (3 x 800MW), in Karnataka. The project is scheduled to be completed within 30 months from the date of letter of award.

Commenting on the order, Sunil Gutte, managing director of Sunil Hitech Engineers Limited, said, “We are happy to receive the contract for ash dyke package at Kudgi Super Thermal Power Project as we are already executing another order at the same site for erection, testing and commissioning of boiler unit III worth Rs 83.71 crores for one of our other client. Another order at same site will lead to better utilisation of resources.”

Shares of the country's largest bank SBI have gained over 2% to Rs 239 on the BSE after reporting 25% rise in stand-alone net profit at Rs 3,879.07 crore for the second quarter ended September.

Total income increased to Rs 46,854.81 crore during the quarter as against Rs 41,833.36 crore a year earlier. Total income has jumped to Rs 66,585.85 crore for the second quarter, from Rs 61,098.67 crore in the same period last year.

The government has allowed Coal India to produce natural gas (CBM) from coal seams in mining leases it already holds.

Until now, Coal India was allowed to mine only coal from its mines or leases.

Air India will report an operating profit in the current fiscal, primarily benefiting from low crude prices and improved operational efficiency, the government said today.

The loss-making national carrier, surviving on a Rs 30,000 crore bailout package, is implementing a turnaround plan.

Homegrown auto major Mahindra & Mahindra today reported 2.43% decline in standalone net profit at Rs 923.56 crore for the second quarter ended September 30, 2015-16.

It had posted net profit of Rs 946.63 crore in the July- September period of the 2014-15 fiscal, Mahindra & Mahindra said in a filing to BSE.

PM Narendra Modi on Thursday launched two schemes on gold as well as a sovereign gold coin, as the government aims to broaden the investment choices for individuals as well as households, and also discourage imports of the precious metal. Although Modi has described the schemes on gold monetisation and sovereign gold bond as an example of “sone pe suhaaga” (icing on the cake), analysts believe these may not achieve runaway success instantly, despite having the potential to establish the metal as a viable investment instrument, as certain issues have not been adequately addressed.

Microsoft CEO Satya Nadella on Thursday echoed the sentiments of Maharashtra chief minister Devendra Fadnavis by saying that his company’s ambition was to empower the people. Speaking at the Microsoft Future Unleashed event, the India-born CEO said there is going to be more computing in our lives in the coming decade.

“Computing will be everywhere, but what will be key is our mobility of our human experience through all this computing. That is where the cloud is important.”

The Securities and Exchange Board of India (Sebi) on Thursday approached the Supreme Court seeking transfer of a fresh plea filed by PACL from the Rajasthan High Court to the apex court.

Sebi has alleged that while PACL and its promoters had moved the Supreme Court against SAT’s August 12 order that directed it to refund close to over Rs 44,376 crore that it collected from around 58.5 million customers and winding up of its collective investment schemes (CIS), the real estate firm on October 12 again moved the Rajasthan HC seeking a direction to Sebi to register its CIS and for release of its sale deeds to enable it sell properties to raise money.

Because of its size and profits, automotive major Tata Motors has considered itself a frontrunner in the contest to win India's biggest 'Make' category defence project - a Rs 50,000 crore contract to design and build a "future infantry combat vehicle" (FICV) for the army. Now, with the stroke of a pen, the defence ministry has reshaped the formbook.

Last year, thanks to profits from its UK-based subsidiary Jaguar Land Rover (JLR), Tata Motors had a consolidated turnover of Rs 2,63,695 crore and a net profit of Rs 13,986 crore, almost thrice as much as Larsen & Toubro (L&T), its next-biggest rival in the FICV contest.

The department of telecommunications (DoT) is actively considering setting up a holding company, with state-run telecom companies Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) as its subsidiaries. The move is expected to revive the ailing public sector undertaking companies, by synergising their operations.

This is one option recommended by IIM-Bangalore in a report on measures for reviving the firms, according to a senior official from the department.

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