The abandoned mines of the Coal India Limited (CIL) in Chhattisgarh would be used for storing fly ash generated from the power plants in the state.

The state government had identified such mines earlier operated by the South Eastern Coalfields Limited (SECL) — country’s largest coal producing company and the highest profit making entity of the CIL. The SECL, having registered corporate office in Chhattisgarh’s Bilaspur district, has 113 approved coal projects (80 underground projects and 33 opencast projects) for a total ultimate capacity of 149.02 million tonne per annum.

New York/Mumbai: Market regulator Securities and Exchange Board of India (Sebi) which is probing unusual movements this year in the shares of Castex Technologies Ltd, said it hasn’t yet found any signs of wrongdoing.

Some holders of Castex’s convertible bonds complained to the Sebi in September, alleging manipulation of its shares with an aim to inflate the price and trigger conditions for a mandatory conversion of the debt.

New Delhi: Swiss packaged food maker Nestlé SA’s Indian unit, Nestlé India Ltd, on Wednesday said it will bring Maggi noodles back to shop shelves by the end of the month.

Nestle India’s statement came after three laboratories certified by the National Accreditation Board for Test and Calibration Laboratories (NABL) declared the “newly manufactured” Maggi noodles safe for consumption.

Hinting at a possible consensus on land acquisition bill, Finance Minister Arun Jaitley today said the government is making efforts in that direction so that it could be taken up in the upcoming Winter Session.

“Meanwhile, the Ordinance (on land acquisition) has lapsed but the bill remains before the Joint Parliamentary Committee. They have asked some minor changes on which a consensus is possible.

Ashok Leyland has reported a 137% growth in its net profit for the quarter ended September to Rs 287 crore on a year-on-year basis, riding high on a 64% growth in medium and heavy commercial vehicle (M&HCV) sales. The auto major had clocked a profit of Rs 121 crore in the same quarter last fiscal.

The revenue during the quarter grew 53.5% to Rs 4,940 crore in the quarter under review as compared to Rs 3,218 crore in the same quarter last fiscal. EBITDA during the quarter was higher at R594 crore (12% of the total revenue), the company informed the stock exchanges.

After very strong 4QFY15 and 1QFY16, we expected 2Q to be a difficult quarter for the oil marketing companies (OMCs). Due to a sharp fall in oil prices and INR depreciation, OMCs were likely to report high inventory/forex losses. While we estimated Indian Oil Corporation (IOC) to be barely in profits, its reported loss due to high inventory/forex loss does not surprise us much.

Despite the 2Q loss, we see low risk to our full year EPS of R47/share (reported 1H EPS of 25/share is 53% of our full year EPS). We see upside to Bloomberg consensus EPS of R44/share.

Air India on Wednesday announced that it has slashed prices of tickets starting at Rs 1,777. According to the airline's statement, the 'Diwali Dhamaka' sale is the latest promotional offer by the airline.

“Under the Air India Diwali Dhamaka offer, which is available from November 3-7, flyers get to book and travel at low fares starting at Rs 1,777 (all inclusive) on its domestic network,” the airline said.

Evidence now suggests that a bomb planted by the Islamic State militant group is the likely cause of last weekend's crash of a Russian airliner over Egypt's Sinai peninsula, US and European security sources said on Wednesday.

Islamic State, which controls swathes of Iraq and Syria and is battling the Egyptian army in the Sinai Peninsula, said again on Wednesday it brought down the airplane, adding it would eventually tell the world how it carried out the attack.

The government on Wednesday issued a show-cause notice to German automobile maker Volkswagen after its testing agency found the company’s diesel models to be emitting more than expected nitrogen oxide (NOx). Samples of Volkswagen India diesel vehicles tested by Automotive Research Association of India (ARAI) were found to be emitting up to nine times more NOx, compared to the levels tested during the approval stage.

Real estate major DLF can now work to its plan and raise Rs 12,000 crore by selling the promoters’ stake in its rental arm DLF Cyber City Developers. The Supreme Court on Wednesday refused to stay the company’s proposed move to raise money through stake sale.

The Securities and Exchange Board of India (Sebi) had moved the apex court, seeking to restrain DLF from selling its stake. The bench, headed by J Chellameshwar, was not convinced about the regulator’s October 2014 order barring DLF and its top executives from such transactions, according to agencies.

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