Deflationary pressure continued for the sixth month in a row with inflation dropping to a new low of (-) 2.65 per cent in April, mainly on account of decline in prices of fuel and manufactured items even as food prices increased. Inflation, as measured on the Wholesale Price Index (WPI), has been in the negative zone since November, 2014. In April last year, it was 5.55 per cent.
Oil marketing companies (OMCs) announced Rs 0.64 a litre increase in petrol prices and a Rs 1.35 per litre cut in diesel prices to align the domestic rates with global price benchmarks. After the revision in prices, to be effective midnight, petrol would be priced at Rs 66.93 a litre in Delhi, including state taxes. Diesel would now cost Rs 50.93 a litre.
Good rainfall has so far been recorded over southern peninsula, central India and east and northeast India this summer with over 13 per cent above the normal limit, the MET department said.
The Ruias of the Essar group are set to sell 49 per cent stake in Essar Oil to Russian oil and gas giant Rosneft for about Rs 105 Bn. The deal is likely to be announced Today.
Reliance Communications (RCOM) and Russian conglomerate Sistema are in exclusive talks to merge their Indian telecom businesses through a stock swap that may lead to the first major consolidation in the intensely competitive sector since 2009.
Life Insurance Corporation of India (LIC), a minority shareholder in Cairn India (9.06 per cent stake), has sought a better offer, including higher dividend on the redeemable preference shares that the metal producer plans to offer Cairn shareholders as part of its planned merger.
Aurobindo Pharma Ltd has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market extended Phenytoin Sodium capsules USP, 100mg.
MCX-SX Clearing Corporation has called for an extraordinary general meeting to put the 23 per cent stake held by Financial Technologies India in an escrow account and sell it off if the company fails to find a buyer by itself.
Power Finance Corporation said that it will raise external commercial borrowings (ECBs) worth $ 1 bn.
Nestle's Indian unit said it would take a hit of more than Rs. 3.2 Bn from the continuing withdrawal and destruction of its Maggi instant noodles.
Oil and Natural Gas Corporation can receive the pending $537 mn dividend within a year of the company arranging $1 bn in credit to develop the San Cristobal oil field that it jointly owns with Petroleos de Venezuela S.A. (PDVSA), the head of the Venezuelan state oil firm has said.
Syngene International, research arm of biotechnology major Biocon, has received capital markets regulator Sebi's approval to launch an initial public offer (IPO).
Airbus Group announced to award aero-components production contract to Mahindra Group. The contract has been awarded to Mahindra Group subsidiary, Mahindra Aerospace by an Airbus Group company, Premium AEROTEC of Germany.
Tata Starbucks, a JV of Tata Global Beverages and Starbucks Coffee is suspending the use of ingredients not approved by food regulator FSSAI in certain products served at its India outlets.
Wipro Says T-Mobile Poland Selects Co To Provide Integrated Applications & Infra Services.
PNB seeks to sell Electrotherm, Bharati Shipyard loans to asset reconstruction companies.
The Adani Group has decided to invest Rs 5,000 Cr for establishing 700-Mw solar power
generation capacity in Tamil Nadu.
SJVN to form JV under the name Kholongchhu Hydro Energy to implement 600 MW Kholongchhu Hydro Electric Project in Bhutan.
Steel Minister directed SAIL to increase its competitive spirit amidst the steel major's market share dipping to 14 percent in the last fiscal from 18.8 percent in 2009-10.
Bayer Crop Seeks Shareholder Nod For Buyback Of Shares Up To Rs. 506 Cr At Rs. 4,000/Share.
NBCC Procured 7612.86 Sq m Plot In Jaipur For Real Estate Project.
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