India News

Coal India likely to get its third chairman in eight months in Suresh Kumar

Senior bureaucrat Suresh Kumar is likely to be the new acting chairman and managing director of the world's largest coal miner CIL.

He will replace Gopal Singh who was given the additional charge as CMD of the maharatna firm in September last year.

NTPC to float tenders to meet FY19 capacity addition target

To meet its FY19 capacity addition target of 5,000 MW, state-owned power producer NTPC is coming up with tenders to build for more than 2,900 MW of generation units in this quarter. A top NTPC official said while tenders for two 660 MW units at its Talcher super-critical power plant are almost ready, the company is also planning to begin the tendering process for two 660 MW units at its Singrauli station and two 800 MW units at the Lara power plant.

TCS posts 1st ever full-year profit drop in 14 years since IPO, but shares jump 6% on robust Q4 results

India’s largest IT services company Tata Consultancy Services (TCS) posted its first-ever drop in the full year net profit on Thursday in a span of last 14 years since the firm got listed on Indian exchanges in 2004. But the shares of the market capitalisation leader TCS went on a joy ride on Friday to hit a record high level.

Diesel price highest ever in India’s history; petrol hits near 5-year high

As international crude oil price touches a four year high of $74 a barrel, diesel price hits the highest level ever witnessed in India’s history, while petrol price has touched a near five-year high. Petrol and diesel prices on April 20 were hiked by 1 paisa and 4 paise respectively, according to Indian Oil’s website.

Yes Bank gets RBI nod to open offices in London, Singapore

Private sector lender Yes Bank today said has received Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore. “This is a significant development in the overall augmentation of Yes Bank’s business model and will help in further diversification and expansion of financial services to the NRI diaspora,” Yes Bank MD and CEO Rana Kapoor said.

Ashok Leyland expects 20% growth in bus business this year

Commercial Vehicle major Ashok Leyland is expecting a 20 per cent growth in its bus business, as the segment is picking up growth from a slow pace last year.

In the previous year, the industry and the company had seen a decline of around 23 per cent owing to various reasons including confusion among customers regarding the delayed Bus Body Code. However, the company managed to increase its market share by 0.3 per cent.

GMR seeks to restructure portion of its Rs 4,000-crore debt liability

NEW DELHI | MUMBAI: The GMR Group’s promoter holding company is seeking to restructure a portion of its Rs 4,000-crore debt liability as the Bengaluru-based infrastructure firm seeks flexibility in balance sheet to meet future capital requirements of its businesses.

More than a dozen lenders — including US private equity giant KKR’s NBFC arm, Yes Bank, Srei Infrastructure, HDFC, L&T and Piramal Group — have either given loan or subscribed to non-convertible debentures (NCD) of the parent. Lenders hold GMR Infra shares as collateral in some cases.