The troubles for government-owned Air India (AI) could deepen in 2015-16 if it doesn’t get the expected infusion of additional capital.

The Union civil aviation ministry told a parliamentary panel recently that AI could default on repayment of loans taken for aircraft purchase if it did not get the entire expected equity infusion. And, that this could mean a series of delayed payments to oil companies, the Airports Authority of India (AAI) and on repayment of interest on the government-guaranteed debentures. The ministry said so to the standing committee on transport, tourism and culture.

Shares of Mahindra & Mahindra were up over 3% at Rs 1,183 after the company reported strong growth in tractor exports during April 2015 compared with the same month last year.

Tractors exports grew 20% to 1,005 units in April 2015 compared with 836 units in April 2014, the company said in a release.

Permanent Account Number (PAN) has been made mandatory for private firms seeking central excise registration.

The registration will now be given within two days of filing online applications, as per the new simplified rules formed by the Finance Ministry "to improve the ease in doing business in manufacturing".

Ashok Leyland has reported a 43% growth in sales during April 2015.

Total sales stood at 8,435 units in April 2015, as compared to 5,897 units a year ago.

As many as 500 cases have come under the scanner of revenue intelligence agencies and capital markets regulator Sebi for raising a whopping Rs 2 lakh crore illegally in the guise of non-convertible debentures and private placements.

Suspecting that these financial instruments are being misused to launder black money, the revenue intelligence agencies have shared the details with the Securities and Exchange Board of India (Sebi) and other regulators for further action, official sources said.

MUMBAI: Shares of upstream oil companies ONGC and Oil India surged in intraday trade following reports that the government is likely to exempt them from oil subsidy burden for FY16.

Oil India rallied 4.36 per cent to touch intraday high of Rs 478.

Voices in support of environment protection have ebbed during economic down-turn, according to a study conducted by the Indian Institute of Management here.

It cautions that such situation can be potentially problematic from the perspective of a developing country like India.

BSE Sensex rallied over 291 points at 27,302.63 in early trade today after a long weekend on fresh buying by participants as the May series in derivatives segment began amid positive Asian cues.

The 30-share index, which had lost 385.07 points in the previous two sessions, rose by 291.32 points, or 1.08 per cent, at 27,302.63.

ICICI Bank’s Q4FY15 profit after tax at Rs 29 bn (up 10% year-on-year) came marginally below our estimate due to higher provisions. However, the quarter was characterised by improved operating performance, and incremental stress (albeit high) did not stray beyond guidance.

Key highlights were: (i) operating profitability (ex-treasury, lease, other income) clocked a healthy growth (>19% versus lower teens in Q3) on improving NIMs (up 11bps quarter-on-quarter to 3.57%) and controlled opex (up mere 8% y-o-y); (ii) fresh stress (fresh slippages and restructuring) was restricted to R22.5 bn, however, higher slippages from restructured book at 22.5 bn (R7.8 bn in Q3FY15) kept the stress elevated (but within guidance).

Bajaj Auto Ltd today reported one per cent increase in total sales in April at 3,36,274 units as against 3,31,529 units in the same month last year.

Motorcycle sales during the month declined by 5 per cent at 2,85,791 units as against 2,99,636 units in April last year, the company said in a statement.

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