New Delhi: Larsen & Toubro Ltd (L&T) on Thursday moved the National Company Law Tribunal (NCLT) seeking ‘higher priority’ in repayment of dues owed by Bhushan Steel Ltd.

Bhushan Steel owes Rs900 crore to L&T for supply of certain capital goods.

Mumbai: The Bombay high court has dismissed the appeal filed by Reliance Communications Ltd (RCom) against an arbitration tribunal order that restrained the telecom firm from selling its assets without prior approval till 9 June. RCom will challenge the single bench order’s at the division bench, a spokesperson said in an emailed response.

New Delhi: A global coalition aimed at supporting the use of solar power is expected to announce a slew of projects worth about $700 million during its inaugural conference this weekend in New Delhi, according to government officials familiar with the matter.

The International Solar Alliance, an initiative launched at the Paris climate talks in 2015, plans to unveil 20 projects in as many countries during the event on 11 March, said the officials, asking not to be identified as the information isn’t public yet.

After months of trading insults and threats of nuclear annihilation, President Donald Trump agreed to meet with North Korean leader Kim Jong-un by May to negotiate an end to Pyongyang’s nuclear weapons program, South Korean and U.S. officials said on Thursday. No American President has ever met with a North Korea leader.

The South Korean national security director, Chung Eui-yong, told reporters outside the White House of the planned summit, after briefing Trump and other top U.S. officials about a rare meeting with Mr. Kim in the North Korean capital on Monday.

Indian shooter Anjum Moudgil clinched a silver medal in the women’s 50m Rifle 3 Positions event at the ongoing ISSF World Cup in Guadalajara, Mexico.

It was Anjum’s first World Cup medal as she battled windy conditions to shoot 454.2 in the 45-shot final to finish behind former junior world champion China’s Ruijiao Pei (455.4). Another Chinese Ting Sun claimed bronze, finishing with a score of 442.2.

The government’s decision to extend the deferred spectrum liability payment period to 16 years from the current 10 will benefit the merged company of Idea Cellular and Vodafone India the most, with the installment amount declining by around 30% annually. However, since the net current value would remain intact, the benefit is only in terms of cash flow as the amount due in initial years would be less, but increase towards the later years.

ONGC, Oil India and BPCL’s Area-1 project moved a step forward this week although FID may still be months away. Even so, with start-up only in 2023E, any earnings uplift is years away with development spend likely to weigh on cashflow in the interim with Oil India, BPCL more vulnerable to downside surprises than ONGC. Nonetheless, with valuations inexpensive we keep our ‘Buy’ on ONGC, Oil India preferring IOCL to BPCL/HPCL in downstream SOEs.

Highway developer Dilip Buildcon (DBL) today said it has bagged a road project worth Rs 770.04 crore in Uttar Pradesh from NHAI.

"The company has been declared L-1 bidder by the National Highways Authority of India (NHAI) for a new engineering, procurement and construction (EPC) project in Uttar Pradesh," Dilip Buildcon said in a BSE filing.

Benchmark indices on Friday opened in green following the footmarks of their Asian peers as worries over trade war decreased as US softened its stance on import tariff.

Asian shares rallied and the safe-haven yen eased on Friday after North Korean leader Kim Jong Un offered to stop nuclear and missile testing and U.S. President Donald Trump agreed to a meeting that could come before May.

India’s HDFC Bank Ltd, the world’s most-expensive lender, has appointed arrangers including Bank of America Corp, Morgan Stanley and Credit Suisse Group AG for a Rs 155 billion ($2.38 billion) planned share sale, people with knowledge of the matter said.

The lender has also appointed JPMorgan Chase & Co, Edelweiss Financial Services Ltd, IIFL Holdings Ltd and JM Financial Ltd for the offering, the people said asking not to be identified because the information is private.

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