Markets regulator Sebi has given nod for extension of Samir Shah’s tenure as NCDEX CEO and MD for six months even as advertisement has been issued by the commodity bourse for selection of a new candidate. Shah was appointed in 2013 as per the regulatory framework of erstwhile Forward Markets Commission (FMC) for three years till 2016. Later, his tenure was extended for an year till August 20, 2017. “The Sebi has extended the tenure for only six months and not two years because the regulator wanted the Board to ratify my appointment through a transparent Sebi-approved selection process,” Shah told PTI.

KOLKATA: Coal India Ltd (CIL), which produces 84 per cent of the country's total output of the mineral, has planned to invest Rs 8,500 crore as capital expenditure in 2017-18, its latest annual report said.

"The capital expenditure for the year 2017-18 has been set at (Rs) 8,500 crore," the miner said in its annual report.

Apollo Hospitals Enterprise Ltd (AHEL), India's largest healthcare provider by market value, is considering the acquisition of small hospitals in northern and western parts of India.

The company, which has been pursuing plans for the rights issue of around Rs 750 crore, said that it would look at other modes of fund raising also if the approvals for the rights issue is not coming by in next six months.

HDFC Bank plans to raise up to Rs 15,000 crore through infrastructure bonds. The proceeds could be deployed to finance projects in various infrastructure segments like power and affordable housing.

CRISIL has assigned “AAA” rating to the bonds. The overall rating continues to reflect the bank’s established market position and healthy capitalisation. It is supported by a strong asset quality, comfortable resource profile, and a robust earnings performance, the rating agency said in a statement.

TVS Motor, maker of two-wheelers and three-wheelers, plans to invest Rs 450-500 crore this financial year, mostly on new products.

Despite the impact created by demonetisation, the goods and services tax and higher emission norms, TVS says it is confident of a double-digit operating earnings margin.

The government has imposed a new penalty of $264 million (about Rs 1,700 crore) on Reliance Industries Ltd and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in 2015-16.

The total penalty now, which is in the form of disallowing recovery of cost incurred for missing the target during six years beginning April 1, 2010, stands at $3.02 billion, an oil ministry official said.

The country's second largest telecom player Vodafone expects Jio's 'effective free phone' with unlimited calling to erode operators' revenues which are already under pressure and sought reduction in various levies imposed by the government as a breather to the industry.

"...The new operator continues to aggressively under- price its services, including announcing launch of 'Effective Zero Price Feature Phone' with unlimited voice.

New Delhi: The second volume of Economic Survey 2016-17 presented on Friday signalled the reduced heft of crude oil prices in India’s national economic policymaking.

“It has become almost an involuntary reflex to cite geopolitics in the list of risks to oil prices, and hence to domestic inflation. But these risks may well be diminishing substantially,” the Survey said.

New Delhi: Mahindra and Mahindra group on Friday said it will exit from its China joint venture for tractor business, Mahindra Yueda Yancheng Tractor Company, by selling entire stake for RMB 82 million (nearly Rs80 crore). The Indian conglomerate has plans to independently operate in China.

Mahindra and Mahindra holds 51% stake in the Chinese JV through its wholly owned subsidiary Mahindra Overseas Investment Company (Mauritius) Limited.

Facebook Inc. has found a new way to enter China: secretly launching an app under a different name.The photo-sharing app, called Colorful Balloons, was released in May to help Facebook enter a market that it’s been blocked from since 2009, according to a person familiar with the matter. Facebook has said its goal of connecting the world wouldn’t be possible without the world’s most populated country, but declined to confirm the details that were first reported by the New York Times.

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