Finance Ministry is expecting a rating upgrade by credit agencies by the year-end on the back of policy initiatives, moderating inflation and improvement in the fiscal position of the government.
India and South Korea inked seven agreements, including on avoidance of double taxation and formalising consultations between National Security Councils of the two nations, to boost bilateral ties.
Insurance Regulatory and Development Authority of India (Irdai) said that no registration of transfer of shares or issue of share capital can be made which would result in the shareholding change. It has said that no Indian investor in an insurance company can hold more than 10% of its equity capital. It added that all such investors jointly cannot hold more than 25% of paid-up equity share capital.
South Korea offered to provide $10 bn for infrastructure projects in India, including smart cities and railways, as Prime Minister Narendra Modi held talks with President Park Geun-hye and the two countries decided to elevate their ties to a special strategic partnership.
Tata Steel may sell UK long product plant for a token amount to Gary Klesch. Tata Group chairman took the step to recognise Rs 50 Bn writedown to goodwill and assets that impaired the long products division of the UK business.
Tata Motors will roll out the all-new GenX Nano in what could be a make-or-break move for the brand.
SpiceJet is planning to raise $150 mn (over Rs 9 Bn) in debt or equity and is in discussions with private equity firms and banks. The airline has said it will use the funds as working capital and to repay dues.
Sterlite Technologies Ltd will spin off its power business into a separate unlisted company while retaining its telecom operations in the existing listed entity. The de-merger will be effective April 1, 2015 subject to all necessary approvals.
The Commerce Ministry has granted an extension to pharma major Lupin to set up its state-of-the-art formulation manufacturing unit at the MIHAN Special Economic Zone (SEZ) in Nagpur. However, a final call on the matter is yet to be taken by the Board of Approval for SEZs.
NIIT Technologies has acquired a majority stake in the Hyderabad-based business process management firm for an undisclosed consideration. The two signed an agreement that allows the latter to pick a stake of 51%.
Power Grid Corporation has got shareholders' approval to raise up to Rs.130 bn from domestic and external sources during the current fiscal.
Cairn India Ltd has demanded a change in the pricing formula for crude oil from its prolific Rajasthan block saying the current pricing mechanism does not capture the full value of oil.
Wind turbine manufacturer Suzlon said it will supply 47 turbines, each of 2.1 MW capacity, for Mytrah Energy's 98.7 MW wind project in Telangana.
National Buildings Construction Corporation has undertaken the task of developing four Waqf Board properties as institutional and commercial projects, with an estimated cost of Rs. 3.98 Bn.
Bharti Airtel Ltd is in advanced talks to buy out Augere Wireless Broadband India for about Rs 1.5 Bn to consolidate its 4G high-speed broadband footprint ahead of Reliance Jio Infocomm's launch.
Kakinada SEZ (KSEZ), a subsidiary of GMR Infrastructure, signed a memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) - a consortium of three Chinese manufacturing companies - to set up an industrial park for the high-end Chinese equipment manufacturing companies.
Infosys will spend about Rs.400 Crs over the next four years to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepen its commitment to sustainability
Larsen & Toubro is open to spending as much as $1 billion on acquisitions for its software services unit as the subsidiary prepares for an Initial Public Offering.
FIPB to meet on May 28 to consider 48 FDI proposals including those of Torrent Pharma, Strides Arcolab, Eros Intl, Biocon arm Syngene, also consider proposals of Den Networks, Hathway, IIFL, Reliance Globalcom & Kotak Mahindra Bank.
Mangalore Chemicals Promoter creates pledge of 8.23 % stake with HDFC on May 14.
ONGC & its partners developing LNG terminal in Mozambique.
Federal Bank, SBI Card collaborate to launch credit cards.
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