NEW DELHI: Bringing some relief to lenders that have financed 'languishing' projects, NHAI has decided to pay back major share of the loan to the banks after carrying out independent assessment of the work done.

Such projects will then be, under public-private-partnership (PPP), taken over by the authority for their completion. Sources said NHAI Board, the apex body with representatives from different ministries, has approved the proposal and it will soon be sent to the cabinet secretariat for its assent to carry out necessary changes in the model concession agreement(MCA).

Mumbai: Larsen and Toubro Ltd (L&T), India’s biggest engineering and construction company, is expected to miss its revised forecast of a 5-7% growth in order inflows for the year ended 31 March, when the company reports its fourth quarter results on Wednesday, analysts said.

L&T, which is often referred to as a proxy for the broader economy and has interests in finance and information technology sectors, has been hurt by stalled industrial projects and a private investment cycle that’s yet to take off, coupled with slower growth in key overseas markets.

The sharp pickup in Infosys Ltd’s revenue growth shows clearly that it has momentum on its side. Another performance metric that has got tongues wagging is the amount of large deals it has won.

The company said last month that the total contract value of the large deals it signed last year stood at $2.79 billion, or 45% higher compared with fiscal year 2014-15.

Chennai Petroleum Corporation (CPCL), an Indian Oil Corporation (IOC’s) arm, on Monday said that it is looking to bring in equity contribution from one of its promoters, namely Naftiran Intertrade, the subsidiary of National Iranian Oil Company, in a bid to widen the capital base of the refinining major.

Untill now, there had been some restrictions to bring capital contribution form Naftiran Intertrade because of certain sanctions imposed by the US against Iran.

The Primary Markets Advisory Committee (PMAC) of the Securities and Exchange Board of India (Sebi) is scheduled to meet on May 30 to discuss changes to the regulations relating to fund raising by start-ups.

Sources said changes that PMAC may approve, include decreasing the minimum lot size to Rs2.5 lakh from Rs10 lakh and reducing the minimum ticket size for participation in start-up initial public offerings (IPOs) to

Chennai, May 23 (PTI): AIADMK chief J. Jayalalithaa took oath on Monday as Chief Minister for the sixth time at a function in which leaders of the rival Dravida Munnetra Kazhagam were also present, breaking a practice of the rivals keeping away from the other's ceremonies.

Jayalalithaa, 68, along with 28 others including her trusted lieutenant O. Pannerselvam took the oath of office and secrecy in the name of God in Tamil. The oath was administered by Governor K. Rosaiah.

Chakan, May 22: Mercedes-Benz India is planning to focus on sports-utility vehicles (SUV) to maintain its growth momentum.

The company, which registered a 21 per cent growth in sales at 13,589 units in 2015-16, had the largest share in the luxury car segment and is betting big on SUVs to bolster its position. "Our NGCCs (new-generation compact cars) were the volume driver last year. This year, it's going to be our SUVs. We have a phenomenal line-up with two more to come this year," managing director and CEO Roland Folger said.

Mumbai: Axis Bank will raise at least $500 million through green bonds from the international market, the first such issue for the private lender, according to two bankers.

India’s third largest private bank would be the fifth issuer of green bonds ever since Yes Bank issued the first such bond in February 2015. Yes Bank had raised Rs.1,000 crore through rupee-denominated green bonds. Other lenders that have raised green bonds include IDBI Bank and Exim Bank.

BENGALURU: India today successfully launched the first technology demonstrator of indigenously made Reusable Launch Vehicle (RLV), capable of launching satellites into orbit around earth and then re-enter the atmosphere, from Sriharikota in Andhra Pradesh.

"Mission accomplished successfully," an Indian Space Research Organisation (ISRO) spokesman told PTI soon after RLV-TD HEX-01 was flight tested with the take off at 7 am.

KOLKATA: Homegrown telecom gear and optic fibre cable makers Himachal Futuristic Communications (HFCL) and Sterlite Technologies have emerged the lowest (L1) bidders for supplying nearly Rs 13,000 crore of equipment to Bharat Sanchar Nigam ( BSNL), which is building a mega communications network for the armed forces.

HFCL has put in price bids, aggregating Rs 4,224 crore for supplying optical transmission devices (Rs 1,448 crore) and geographical information-based network management systems (Rs 2,776 crore), while Sterlite Technologies has put in price bids aggregating Rs 8,400 crore for supplying core IP gear to BSNL, two people with direct knowledge of the matter told ET.

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