Low income segment housing financer Aadhar Housing Finance is targetting to more than double its loan book size to Rs 2,000 crore during the current fiscal.

During the last financial year, its loan book stood at about Rs 972 crore. At the end of July 2015, Aadhar had already clocked Rs 1,115 crore in advancements, company's CEO Deo Shankar Tripathi told Business Standard here.

NTPC Ltd is exploring options to manufacture solar equipment as part of the state-owned power producer’s strategy to be present across the green energy value chain.

To start with, India’s largest power generator is evaluating a plan to set up a 1,000-megawatt (MW) per annum manufacturing capacity, which may require an investment of Rs.5,000 crore.

Mumbai: Tata Motors Ltd, India’s largest automobile maker by revenue, on Friday reported a 49% drop in first-quarter net profit as sales at its UK luxury car unit Jaguar Land Rover (JLR) Automotive Plc declined as demand weakened in China, its largest market.

Net profit fell to Rs.2,769 crore in the three months to June from Rs.5,398 crore in the year-ago quarter. Net sales declined 6.2% to Rs.61,020 crore from Rs.64,683 crore in the same quarter last year.

Capital markets regulator Sebi has started cracking down on offshore units of major global banks for their suspected role in manipulation of share prices in the Indian stock market.

Top officials said the regulator is closely looking at possible instances where share prices of companies listed in the domestic stock market are being manipulated through offshore centres of foreign banks.

Prime Minister Narendra Modi arrived in Chennai today amid rumors of a possible meeting between the PM and Chief Minister and AIADMK Supreme J Jayalalithaa. The Chief Minister received the Prime Minister along with senior cabinet ministers but gave the National Handloom Day programme a miss.

Reports stated that both the leaders are expected to meet later in the day at Chief Minister's Poes Garden residence, however it was not confirmed by the state government or AIADMK.

The Bombay Stock Exchange has decided to shift stocks of 91 companies to the restricted trading segment from August 11 to ensure safety in capital markets and safeguard the interest of investors.

The National Stock Exchange (NSE) will also move 24 securities to this category.

The country's largest carmaker Maruti Suzuki India will have a "high number of new model launches" in this fiscal, including a compact sport utility vehicle (SUV), as it looks to consolidate its leadership position.

The company, which will have a new manufacturing plant in Gujarat where its parent Suzuki Motor Corp will invest, said the Centre alone cannot realise the dream of the country becoming a global manufacturing hub and states would have to play an important role.

Weighed down by lack of new products in the passenger vehicle space and drastic fall in demand for tractors, Mahindra & Mahindra posted 3.4% fall in net profit for the quarter ended June 30, 2015. The company, however, managed to beat street estimates.

The Mumbai-based company reported Rs 852 crore net profit for the reporting quarter as against Rs 882 crore posted in the same quarter last year. A Bloomberg poll of analysts had estimated the net profit to be at Rs 741 crore.

Power equipment manufacturers have complained to the government of anomalies in awarding engineering, procurement and construction (EPC) contracts as a demand shortfall continues to hobble the sector.

Represented by the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci), which have written to the power ministry, private equipment makers like Alstom, Bharat Forge, Larsen & Toubro and Toshiba have complained that state utilities are nominating central public-sector undertaking Bharat Heavy Electricals Ltd (BHEL) for projects.

Mumbai: Deutsche Bank AG and ICICI Securities were among firms selected to help manage the sale of the Indian government’s stakes in five state-run companies including NTPC Ltd, the nation’s largest power generator, people familiar with the matter said.

SBI Capital Markets Ltd and Edelweiss Financial Services Ltd also were chosen to work on the divestments, the people said, asking not to be identified as they weren’t authorized to speak before a public announcement.

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