Banks Likely To Hire Agency To Inspect Bhushan Steel

To monitor the operations of Bhushan Steel, banks with an exposure of Rs.40, 000 crores in the company are in talks to appoint a management agency.

Indian Stocks Record Second Consecutive Weekly Fall On Geopolitical Issues

BSE Sensex and NSE Nifty ended one percent lower on Friday.

SBI Reports First Profit Growth In Six Quarters

The State Bank of India on Friday reported its first profit in the last six quarters due to the higher interest income and stability of bad loans.

Shares Of Gujarat State Petronet Slip On 32% Quarterly Loss

Stocks of Gujarat State Petronet fell 3.68 percent to Rs.82.50 per share at 11 am during trading hours on Friday. The shares fell after the company posted its declined revenue results due to lower operating income.

The airline posted a loss of ₹1,003.24 crores in the previous financial year.

Reliance Communications on Thursday announced that it has received the first installment of Rs 650 crore from Telecom Infrastructure Finance.

The Adani Group and Indian Oil Corporation are in talks to build an Rs.30, 000 crore joint venture project with a capacity of 30 million tonnes refinery at Mundra Port in Gujarat.

Additionally, the apex bank has also asked these companies to disclose the recoveries made under each asset that they acquire.

The benchmark Sensex closed 0.94 percent lower at 25660.84 points and the broader Nifty ended 0.96 percent lower at 7672.05 points.

Stocks of Bhushan Steel recorded a year’s low at ₹305 per share following involvement in Syndicate bank corruption case.

The telecom department responded in a 37-page report to Comptroller and Auditor General (CAG) regarding the issue.

Essar Projects, an engineering company on Tuesday announced that it has bagged a $54 million (₹328 crores) project from Saudi Arabian national oil and natural gas company Aramco.

Large and fancy billboards have been hindering smooth take-offs in Mumbai airport, due to which Air India reportedly incurs an estimated loss of about ₹10 crore per month on its Mumbai-New York flight.

India’s service sector growth plunged in July as new orders slowed last month, according to HSBC Services Purchasing Manager Index (PMI).

The Reserve Bank of India has kept the repo rate steady at eight percent during the third bi-monthly policy review on Tuesday.

Indian shares ended higher on Monday, snapping two days of fall as software services exporter Infosys rallied on the weaker rupee, while lenders gained a day before the central bank’s policy review.

The department of telecom is likely to start the auction of 2G and 3G spectrum bands from February 2015.

Indian factory output rose to a 17-month high in July.

Piramal Enterprises Limited has linked up with Dutch pension fund APG Asset Management to invest $1 billion in Indian infrastructure companies over three years.

ICICI’s net profit for its fiscal first-quarter rose to 26.55 billion rupees ($440 million) with a 17 percent rise.

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