India Business News

IDBI to charge 1 percent lower interest on MSME loans

by sulekha news on May 23 2014 6:52PM IST

New Delhi, May 23 (IANS) IDBI Bank Friday signed an agreement with industry body Ficci under which it will offer loans to micro, small and medium enterprises (MSME) at one percent lower interest than the market rates and also charge low processing fee.

Natural gas output falls over 7 percent year-on-year

by sulekha news on May 23 2014 6:23PM IST

New Delhi, May 23 (IANS) Production of natural gas in April recorded a year-on-year fall of 7.7 percent as both public and private sector explorers failed to meet targets, data released Friday by the petroleum ministry showed.

Sensex, Nifty close at new high; capital goods stocks gain (Roundup)

by sulekha news on May 23 2014 5:53PM IST

Mumbai, May 23 (IANS) A benchmark index of Indian equities markets climbed 319 points or 1.31 percent to a record closing high of 24,693.35 points Friday, as capital goods and banking stocks rallied.

SpiceJet says not selling slots to Qatar Airways

by sulekha news on May 23 2014 5:32PM IST

New Delhi, May 23 (IANS) Budget passenger carrier SpiceJet Friday refuted reports that it was in talks with Qatar Airways for selling its overseas slots. The company, however, reiterated that it is in discussion with an external entity for getting funds.

DST innovation programme having positive impact

by sulekha news on May 23 2014 5:32PM IST

New Delhi, May 23 (IANS) india's Department of Science and Technology has helped in launching innovative technologies in world markets and creating positive economic impact in the country, partner Lockheed Martin Corporation of the US said Friday.

Sensex surges 319 points; capital goods, banks rally

by sulekha news on May 23 2014 4:22PM IST

Mumbai, May 23 (IANS) A benchmark index of Indian equities markets Friday closed 318.95 points or 1.31 percent up, as capital goods and banking stocks gained.

'BJP pinged 144 million Net users in latest election'

by sulekha news on May 23 2014 4:03PM IST

New Delhi, May 23 (IANS) The IT cell of "Elect Modi Campaign" reached out to as many as 144 million people across India in the latest elections -- a formidable bank to tap into to garner vote for the Bharatiya Janata Party, a senior office bearer overseeing it has said.

PepsiCo, Clinton Foundation to source cashew from India

by sulekha news on May 23 2014 2:54PM IST

New Delhi, May 23 (IANS) Global food and beverages firm PepsiCo has tied up with former US president Bill Clinton-run The Clinton Foundation to spur social and economic development in emerging markets like India.

SBI net profit declines by 8 percent in Q4

by sulekha news on May 23 2014 2:03PM IST

New Delhi, May 23 (IANS) State Bank of India (SBI), the country's largest lender, Friday said its net profit declined by 7.82 percent to Rs.3,041 crore in January-March quarter of this year from Rs.3,299 crore recorded in the same period last year.

Sensex surges 206 points; capital goods, oil, gas stocks gain

by sulekha news on May 23 2014 12:28PM IST

Mumbai, May 23 (IANS) A benchmark index of Indian equities markets surged 206.39 points or 0.85 percent Friday as capital goods and oil and gas stocks gain.

Indian-origin CEO on Forbes Middle-East list

by sulekha news on May 23 2014 10:41AM IST

Nagpur (Maharashtra), May 23 (IANS) A poor cotton farmer's son from Maharasthra's Vidarbha region has been named in the Forbes list of top 40 CEOs in Middle-East countries, announced recently by Forbes.

Renewable energy projects get 100 mn euro aid from France

by sulekha news on May 22 2014 8:02PM IST

New Delhi, May 22 (IANS) Indian Renewable Energy Development Agency (IREDA) will receive a Line of Credit of 100 million euro for financing renewable energy and energy efficiency projects in the country.

Ashok Leyland posts lower sales, profit

by sulekha news on May 22 2014 7:22PM IST

Chennai, May 22 (IANS) Commercial vehicle major Ashok Leyland Ltd. closed last fiscal with a turnover of Rs.9,943 crore and a net profit of around Rs.29 crore - down from Rs.12,481 crore and Rs.434 crore respectively logged during 2012-13, said a senior official.

Consumer Forum issues arrest warrant against Supertech directors

by sulekha news on May 22 2014 7:02PM IST

New Delhi, May 22 (IANS) The Noida District Consumer Forum has ordered arrest of directors of real estate company Supertech for non-compliance of its order in a consumer complaint.

RIL aims to raise Rs.10,000 crore in debt

by sulekha news on May 22 2014 6:42PM IST

Mumbai, May 22 (IANS) Mukesh Ambani-led Reliance Industries (RIL) Thursday said it aims to raise up to Rs.10,000 crore in debt during the current fiscal to partly fund its $26 billion investment plan.