Investors have been uncharacteristically aloof to NTPC Ltd’s announcement that electricity generation grew 10% in the April-June quarter. It is the fastest quarterly growth the firm saw in almost two years. The growth supports the view that electricity consumption is in a recovery mode, with positive growth emerging from early this year. NTPC has 16% of India’s total installed power capacity.

Mumbai: ICICI Bank Ltd has sold part of its loan exposure in debt laden Essar Steel Ltd to Edelweiss Asset Reconstruction Co. Ltd, two people familiar with the development said.

“The bank has sold around Rs.1,000-1,500 crore worth of loans in Essar Steel to the ARC (asset reconstruction company) this month. ICICI Bank will continue to retain the working capital exposure it has in the company,” one of the two people cited above said.

The benchmark Sensex fell over 33 points in early trade as investors booked profits in recent gainers amid mixed Asian cues.

The 30-share barometer declined 33.44 points, or 0.12%, to 27,245.32, with sectoral indices led by power, realty, auto, capital goods and IT bringing about the fall.

Tata Consultancy Services (TCS) is partnering with the Royal College of Physicians in Ireland to deploy iON cloud solutions to create an online community of doctors. The new tool called The Physician Network is a resource based on the TCS iON Digital Learning Platform to enable virtual 'common-interest communities' and facilitate best practice knowledge-sharing.

V Ramaswamy, Global Head, TCS iON said that doctors will be able to collaborate from any location around the world, using the mobile-optimised solution to share insights and learnings with other medical professionals.

Engineering major Larsen & Toubro (L&T) today said it has bagged export orders worth $71.3 million (nearly Rs 480 crore) from Mitsubishi Hitachi Power Systems Ltd through its two joint venture (JV) firms.

"Larsen & Toubro (L&T) through its joint venture companies L&T-MHPS Boilers Private Ltd (LMB) and L&T-MHPS Turbine Generators Private Ltd (LMTG) has secured export orders worth $71.3 million from Mitsubishi Hitachi Power Systems Limited (MHPS)," the company said in a BSE filing.

Aggrieved with the Centre and Coal India (CIL) for not making a headway in forming a Joint Bipartite Committee for Coal Industry (JBCCI), which will negotiate with the workers over a salary hike, the five central trade unions are thinking of resorting to “industrial action”, in case JBCCI doesn’t take shape by July 15.

This committee was supposed to be formed by the end of June when the ninth National Coal Wage Agreement (NCWA) elapsed.

With an aim to connect more global destinations, leading state-run airline Air India will launch Ahmedabad-London-Newark flight from August 15 and Delhi-Madrid in December, and also plans to expand its fleet size in next four years, a top official said today.

“We will be launching the Ahmedabad-London-Newark flight from August 15 and Delhi-Madrid from December as part of our growth plan,” Air India Chairman and Managing Director, Ashwini Lohani, told reporters here.

After years of talking about it, DLF might finally take some action in bringing down its accumulated pile of debt. News reports suggest that the promoters of DLF would infuse Rs 10,000 crore in the company through a preferential allotment. The promoters will be receiving this huge sum of money in lieu of sale of their stake in their rental business.

Reports say promoters KP Singh and his family will be selling 40% of their stake in the rental business and use the proceeds of the fund to repay part of the loan in the parent company.

The Madras High Court has issued an interim order, restraining automobile major Bajaj Auto and others from an advertisement which allegedly disparages the TVS Motors' product TVS XL 100 by comparing the fuel efficiency on the basis of false figures. The court has issued two weeks' notice to Bajaj Auto and others.

The interim injunction was issued when TVS Motor approached the Court with the allegation.. According to reports, Bajaj’s dealers have issued advertisement for its motorcycle Bajaj CT100, by comparing the fuel efficiency of TVS XL 100.

Reliance Industries Ltd (RIL) has got approval from the Ministry of Environment & Forests (MoEF) to drill eight additional exploratory wells in Tamil Nadu. The company plans to invest around Rs 800 crore to drill these new wells.

An Order, signed by Lalit Bokolia, additional director, MoEF, on June 30 , 2016 stated that the Ministry has given environmental clearance to the project under the provisions. The Ministry also listed several conditions in the Order.

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