“Rome was not built in a day,” quips Air India CMD Ashwani Lohani on the carrier’s struggles to emerge as a good service amidst its huge debt troubles. But Lohani does not think that the airline’s issues are insurmountable. In fact, he is optimistic that progress is being made in the right direction to increase the operating profit. “We are working to improve our performance. We have a lot of legacy issues, we have no magic wand to turn around things,” he says.

KOLKATA: Coal India has almost achieved its e-auction target for the current fiscal, and is looking at offering additional supplies.

At the start of the year, it targeted eauction sales of 120 million tonnes of which it has already achieved 113 million tonnes by December, officials said.

New Delhi: The Election Commission (EC) has, ahead of polls to five assemblies, cracked the whip on violations of the model code of conduct (MCC), and separately asked Bharatiya Janata Party (BJP) lawmaker Sakshi Maharaj to explain recent comments made in poll-bound Uttar Pradesh.

Significantly, in both the missives, the EC cited a recent Supreme Court order banning the use of religion and caste to woo voters.

Domestic Engineering & Construction (E&C) is likely to witness a slowdown in execution in H2FY17 (+8 % in H1FY17) on account of demonetisation and continued execution challenges. The impact may linger longer for the ‘elite housing’ segment (6% of order book). We cut our FY17 order inflow estimates (+9% v/s +18% earlier) to factor in weak defense, infrastructure and power generation orders. We, however, expect a revival in FY18, led by higher government spending on infrastructure and defense.

Flaying Sebi for delaying probe “only for a trivial issue”, the Supreme Court on Tuesday asked it to expedite inquiry within six months against audit firm Pricewaterhouse in the Rs 7,000-crore Satyam Computer Services scam.

Sebi is investigating the role of the auditing firm that was the external auditor for the scam-tainted company between 2000 and 2008. Two senior partners—S Gopalakrishnan and Srinivas Talluri—had certified Satyam’s audit reports in that period.

Sensex surged over 151 points to breach the 27,000-level and Nifty hit the crucial 8,300-mark in opening trade following widespread gains as investors widened their bets amid a firming trend in Asian markets.

However, caution prevailed ahead of macroeconomic data and quarterly earnings from blue-chip companies.

Ford Motor Co on Tuesday confirmed that it would be less profitable in 2017 than last year, even as cross town rival General Motors Co on the same day gave a much more upbeat forecast that surpassed Wall Street expectations.

Ford, the second largest U.S. automaker, affirmed that it was on track to deliver about $10.2 billion in adjusted pretax profit in 2016, matching a forecast it gave previously.

The market regulator is putting the onus of corrective action on National Stock Exchange of India Ltd (NSE) after a forensic audit found that NSE’s algorithmic trading platform and co-location facility were “prone to manipulation” and allowed “potential preferential access” to some brokers.

The Securities and Exchange Board of India (Sebi) will ask the exchange to strengthen its trading systems, fix responsibility for lapses found by the audit, suspend employees who were at fault and examine members who may have profited illegally or unfairly, four people familiar with the matter said.

Mumbai: Market benchmark Sensex rebounded by over 173 points to finish at 26,899.56 on Tuesday as domestic investors heavily bought into recently battered metal, auto and oil & gas stocks amid a higher opening of the European markets.

Sensex snapped its two-day falling streak, supported by value-buying in select blue-chip stocks amid mixed global cues. The gauge had lost 151.69 points in the previous two sessions ahead of earnings season and macroeconomic numbers due this week amid looming fears of a slowdown in the country’s GDP growth.

Public sector lender Bank of Baroda (BoB) on Monday lowered interest rate on home loans by 70 basis points (bps) to 8.35% – the lowest in the industry.

In doing so, the bank has decided to offer home loans at its one-year marginal cost of funds-based lending rate (MCLR) without any spread to customers with CIBIL score of 760 and above.

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