KOLKATA: State-run Coal India (CIL) will invest Rs 6,000 crore to set up 1,000 MW of solar power generation capacity over the next five to six years, according to a senior company executive. "We will fund 70% of the project cost through debt, which will come mostly from banks, while the rest will be through internal resources," said the executive, who did not wish to be named adding that land for the plants will be provided by the states. As a first step, Coal India has prepared a detailed project report for setting up 200 MW of solar generation capacity.

Oil and Natural Gas Corporation (ONGC) has slipped 1.5% to Rs 247.9 on the Bombay Stock Exchange (BSE) as its net profit for the second quarter dropped 11.1% to Rs 4842.02 crore year-on-year.

The oil exploration major reported a 1% increase in net sales to Rs 20563.19 crore in Q2 September 2015 over Q2 September 2014. ONGC's crude oil, condensate and natural gas production increased 1.4% to 12.976 million tonne of oil equivalent in the second quarter when compared year-on-year.

Shares of Tata Motors have surged over 3% to Rs 409 on the BSE in an otherwise weak market after Tata Motors-owned Jaguar Land Rover launched a new 4.5 billion pounds cost-cutting plan to offset rising emissions cost and the slowdown in China. CLICK FOR FULL STORY.

The project — known as Leap 4.5 — will scrutinise almost every area of spending at Britain’s luxury car manufacturer. The £3-billion-a-year capital budget, focused on research and development and new plants, will be spared.

Arundhati Bhattacharya, Chairman of the country’s largest bank SBI, remains the most powerful woman in the Indian business sector, according to Fortune India. ICICI Bank’s Chanda Kochhar and Shikha Sharma of Axis Bank follow Bhattacharya at the second and third places, respectively.

Hindistan Petroleum Corporation Limited Chairperson and Managing Director (MD), Nishi Vasudeva, has bagged the fourth position, while AZB & Partners Co-Founder Zia Mody and Aruna Jayanthi Chief Executive of Capgemini India shared the fifth rank.

Mumbai: The BSE Sensex edged lower on Friday after earlier hitting a five-week low ahead of the results from elections in Bihar, which Prime Minister Narendra Modi’s party needs to win to improve the parliamentary strength it needs to push through reforms.

Modi’s nationalists and opposition parties were running neck-and-neck in the elections, according to exit polls on Thursday. Official results will be announced on Sunday.

Bengaluru: Wipro Ltd restructured its global media and telecommunications business unit and split the nearly $1 billion unit into three different businesses, after the incumbent boss Ayan Mukerji decided to leave from the country’s third largest software exporter.

Significantly, Mukerji becomes the second executive to leave Wipro after the chief business operations officer Satishchandra Doreswamy resigned in March when Wipro undertook its biggest management reshuffle in four years, which included the appointment of a former Tata Consultancy Services Ltd executive Abid Ali Neemuchwala as chief operating officer.

Emerald Haven Realty Ltd., an associate company of TVS Motor Company, will shortly announce its second residential project in a southern suburb of Chennai with an eye to tap the emerging opportunity in the GST (Grand Southern Trunk) corridor.

The company will launch its new residential project GreenAcres on 18-acre area at Kolapakkam near Tambaram, Chennai. It will have 2BHK, 3BHK houses and villas catering to different segments of people. The price will be in the range between Rs.25 lakh and Rs.1.25 crore.

nion Finance Minister Arun Jaitley spoke out against the fact that the Supreme Court is deliberating on the issue of Aadhaar being universally implemented saying that it is up to the government to decide the methodology of governance, not the courts.

“The need for this (Aadhaar) and the utility for this has been universally recognised across States. We are at a situation where there is a challenge pending in court and normally courts entertain a challenge which are judicially determinable. As to what should be the methodology adopted in governance is not a judicially determinable matter. It is a matter for the executive government to decide,” Mr.

Kotak’s reported standalone PAT of Rs 570 crore was in line with our expectations, but adjusted for a one-off fee reversal of Rs 60 crore, lending business PAT was higher. The 2QFY16 results indicate that most of the P&L drags from the ING integration are behind us, with sequential growth picking up, margins stabilising and opex normalising lower and even the elevated credit costs for the ING book coming within management guidance.

The Indian Railways has doubled the ticket cancellation charge as it has proposed to change the refund rules to help genuine passengers getting confirmed tickets.

Indian Railways sais that there will be no refund after the departure of train and one has to get the refund four hours before the departure, according to the new refund rules.

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