It is not just Punjab National Bank (PNB) that was a victim of fraud. Fugitive businessman Mehul Choksi and an international web of co-conspirators used his US company Samuels Jewelers and a series of puppet vendors, including a psychologist, to fraudulently induce Samuels's primary lenders.

Cracking its whip on brokers, markets regulator the Securities and Exchange Board of India (Sebi) on Wednesday declared Phillip Commodities India (formerly MF Global SIFY Securities India Ltd) “not fit and proper” in the Rs 5,600 crore National Spot Exchange (NSEL) payment default case.

Phillip Commodities India is the fifth broker that Sebi has declared “not fit and proper”.

There’s a wrinkle in plans made by Asia’s richest man to take on Amazon.com Inc and Walmart Inc on his home turf in India: his telecom and retail businesses can’t share data.

Billionaire Mukesh Ambani, chairman of Reliance Industries Ltd., has outlined how he will marry the might of his group’s 9,900-plus retail stores and 280-million strong telecom user base to bolster his e-commerce venture.

Solar energy installations in the calendar year 2018 dropped 15.5 per cent to 8,263 megawatt (MW) due to a safeguard duty regime, GST and land and transmission issues, says Mercom India's new research.

In 2018, investments in the Indian solar sector totalled over $9.84 billion, 15 per cent lower compared to the previous year. Rooftop solar, however, had an impressive year growing by 66 per cent on year-over-year.

With a networth of $54 billion, Reliance Industries Chairman Mukesh Ambani has broken into the global top 10 richest billionaire list complied by Hurun Research.

"The only Asian in the Top 10, Ambani's wealth is based on telecom, retail and energy, and bucked the poor stock market trend in India last year," Hurun Research said in a statement.

NEW DELHI: Hyundai Motor India Wednesday said its SUV Creta has crossed 5 lakh cumulatives sales milestone since its launch in July, 2015.

The company has sold 3.7 lakh units of the SUV in India and over 1.4 lakh units across international markets.

New Delhi: State-owned Indian Oil Corp (IOC) has won licences to retail gas in 10 cities while Hindustan Petroleum Corp Ltd (HPCL) won rights for nine towns as oil regulator PNGRB announced winners for the 10th city gas bid round.

IOC won city gas distribution licences for nine cities, most of them in Bihar and Jharkhand, on its own and one in a joint venture with Adani Gas, according to a press statement issued by Petroleum and Natural Gas Regulatory Board (PNGRB).

New Delhi: On the lines of airlines, the Indian Railways has started displaying reserved charts online to allow its passengers to see the status of seats while booking a particular train.

The user-friendly interface will give graphical representation of the train coaches and berth-wise accommodation status on website.

Even as INFO’s revenue growth improves — its FY19 EBIT margin exit at 22- 22.5% followed by wage hikes in 1QFY20, pose a risk to consensus EBIT estimate of 23.4% for FY20. This is a key concern weighing on the stock’s attractiveness. INFO’s recent revival under Salil Parekh in revenue growth came with an EBIT margin decline of 120bp, despite INR/USD depreciating 11% during the same period.

Google’s iPhone app that allows users to set up and control the company’s Home speakers indicated early Tuesday that Apple Music would soon be coming to the devices — suggesting that Apple Inc. was continuing to push its services beyond its hardware in an effort to generate more revenue.

But it was just a software bug, a spokesman for the Alphabet Inc. company said.

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