Bharat Heavy Electricals’ (BHEL) order win of the Udangudi thermal power project vindicates our view of translation of L1 position into order inflow by March 2018. We had highlighted in our recent company update titled ‘Steady against all odds; pace of recovery key’, translation of L1 position in 4 projects into actual order inflow (including Udangudi) by March 2018. BHEL has bagged the Rs 73 billion EPC order from TANGEDCO for setting up the 2×660 mw Udangudi thermal power plant.

India’s most valuable lender HDFC Bank on Wednesday approved a mega-fundraising plan of Rs 24,000 crore to fund its growth. HDFC Bank had grown multifold in recent past as the bank has surpassed age-old financial conglomerate ICICI Bank in terms of assets and market capitalisation and is now is India’s second-biggest lender by assets behind India’s biggest bank State Bank of India. HDFC Bank has said that it would raise up to Rs 24,000 crore to fund its growth by selling shares to domestic and international investors including a preferential issue to its parent company HDFC Ltd.

NEW DELHI: Taking a step ahead in domestic manufacturing of solar equipment, the government has floated a document to gauge the market's interest in setting up 20 GW solar PV manufacturing facility in India in a span of three years.

Solar Energy Corporation of India (SECI) has floated an expression of interest (EoI) document, evincing interest to "invite bids for allocation of project capacities, from prospective solar manufacturers who are willing to set up vertically integrated solar PV module manufacturing facility in India, including ingots, wafers, cells, and modules."

MUMBAI: The Karnataka High Court last week allowed a ship loaded with petroleum products to set sail, averting an energy crisis in Mauritius.

The island nation recently lost a Singapore arbitration award to local shipping company Betamax worth $120 million. Betamax sought to attach the fuel worth nearly $40 million from ONGC's Mangalore refinery meant to be shipped to Mauritius to recover its dues.

Maruti Suzuki India entered the elite league of corporate entities with a market value of over Rs 3-lakh crore after the stock price of the company hit a new high on Wednesday and touched the Rs 10,000 mark on the BSE in early morning trade.

Maruti Suzuki, the country’s largest car maker, was trading at Rs 9,980, with the m-cap of Rs 301,234 crore at 09:20 am; the BSE data shows.

Washington: US President Donald Trump has asked Pakistan to take “decisive action” against terrorist groups operating from its soil, as he unveiled America’s new National Security Strategy (NSS).

Mandated by the Congress, Trump released his first NSS, according to which the US seeks a Pakistan, that is not engaged in destabilising behaviour and a stable and self-reliant Afghanistan.

American tech major Microsoft will be focusing more on the government and the small business segment to grow its India revenues, a top official has said. “The SMB (Small and Medium Businesses) segment and the segments around digital India (and) government would be clear areas of focus for us in addition to all the work around enterprise and consumer that we have been doing,” Microsoft India president Anant Maheshwari told PTI.

The Centre favours including petroleum products in the ambit of the Goods and Services Tax (GST) but it would want a consensus with the states before taking such a step, Finance minister Arun Jaitley said today.During the Question Hour in Rajya Sabha, Congress leader and former finance minister P Chidambaram sought to know the union government's position on bringing petrol and diesel under the GST.

Maruti Suzuki India hit a new high of Rs 9,768, up 5% on the BSE in intra-day trade, making its entry into the list of the top-5 most valuable companies by market capitalisation (m-cap).

With an m-cap of Rs 294,641 crore, Maruti Suzuki India now features at fifth rank in the list by replacing fast moving consumer goods (FMCG) company Hindustan Unilever (HUL) from this prestigious club. HUL have m-cap of Rs 291,382 crore at 02:48 pm, the BSE data shows.

Benchmark indices ended on closing high on Tuesday as BJP's wins in key state elections continued to boost sentiment, with auto stocks leading the gains, while strength across Asian markets also lent support.

Blue chips benefited after PM Narendra Modi’s Bharatiya Janata Party sealed victories in his home state of Gujarat and Himachal Pradesh, raising hopes of continued reforms.

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