State-owned Bharat Sanchar Nigam Ltd today expressed concern that it is likely to feel the ‘stress’ this financial year because of intense competition and asked the telecom department to speed up its receivables. BSNL officials met the inter-ministerial group here today as part of the ongoing dialogue between the industry and the government to discuss the sector’s financial headwinds. “BSNL is not facing any problem in raising loans and already has a credit line available,” sources said after the 30-minute meeting with the IMG.

Regulator Sebi today barred Shreebhumi Constructions and its directors from the capital market for not complying with public issue norms. A probe by Securities and Exchange Board of India (Sebi) found that the company had allotted redeemable preference shares worth Rs 1.95 crore to 241 people in 2011-12 and 2012- 13. Since these shares were issued to more than 50 investors by the company, this qualified to be a public issue, which requires compulsory listing on recognised stock exchanges. Among others, the firm was also required to file their prospectus, which it failed to do.

NEW DELHI: State-owned Coal India will continue to offer domestic coal to non-power sectors in lieu of 50 per cent of the import component in the ongoing fiscal.

The development assumes significance as the government is working to eliminate coal imports.

The world's largest coal miner "offer of domestic coal 'as is where is basis' to non-power FSA (fuel supply agreement) consumers in lieu of 50 per cent of the import component will be continued in 2017-18", the official said.

President Donald Trump and Prime Minister Narendra Modi during their first meeting would set forth a vision to expand the US-India ties in an ambitious manner and discuss ways to advance common goals like fighting terrorism and expanding security cooperation in the Indo- Pacific region.

The leaders of the world's two largest democracies with a combined population of 1.6 billion will meet on June 26 at the White House to discuss a gamut of bilateral issues, including India's concerns over possible changes in H1B visa rules.

Infosys CEO Vishal Sikka on Monday met Finance Minister Arun Jaitley amid industry-wide concerns around tighter visa norms in key markets like the US and layoffs in the sector.

The 45-minute meeting, between Jaitley and Sikka accompanied by other top company officials, also assumes significance as Prime Minister Narendra Modi is scheduled to visit the US later this month. Over the past few months, Indian IT companies are confronted with closer scrutiny and tighter visa norms in the US, a market that accounts for nearly 60 per cent of India's IT exports. According to sources, Infosys had sought the meeting.

Air India is on the block, finally. With accumulated losses of over Rs 50,000 crore, a debt overhang of around Rs 55,000 crore, and an annual interest burden of Rs 4,500 crore which chews up more than a fifth of its revenues, this decision should ordinarily have been a no-brainer. But it has taken the Modi government three long years to come to this conclusion.

The decision could have been taken with fewer tears a decade ago, when the airline under Civil Aviation Minister Praful Patel induced Air India to order a humongous number of aircraft from Boeing that it could ill-afford.

Wipro on Monday said the date for issuing bonus or stock dividend to the holders of its American Depository Receipts is yet to be finalised, amid the ADRs witnessing steep fluctuations in pre-market trading on the New York Stock Exchange.

ADRs are instruments denominated in US dollars and the underlying shares are that of a foreign company.

The Insurance Regulatory and Development Authority of India (Irdai) appointed an administrator to oversee the operations of Sahara Life Insurance with immediate effect on Monday.

The decision, a first in the insurance industry, was taken after the regulator came to the conclusion that the insurer was acting in a manner “likely to be prejudicial to the interests of the holders of life insurance policies”. The action was taken under Section 52 A of the Insurance Act, the insurance regulator’s order said.

India's largest IT services company Tata Consultancy Services (TCS) will collaborate with chipmaker Intel to design a reference architecture that could be used for rolling out Internet of things (IoT), cloud, 5G and AI by its customers.

The partnership will also see both companies jointly investing in Centres of Excellences (CoEs) across India and the US to provide industry specific solutions for optimising cost and improving productivity.

The telecom industry that looks headed the steel industry way due to its huge debt and falling revenues is expecting resolution of some of its issues and respite from heavy levies post the meeting of telecom minister with mobile company promoters slated in the third week of June.

Many do not rule out the fierce war being fought in the market between the incumbent telecom players and new entrant Reliance Jio Infocomm Ltd (RJio) to spill over to the one-on-one interactions called by the telecom minister Manoj Sinha.

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