India News

BSE Sensex falls 75 points on profit-booking

The benchmark BSE Sensex fell over 75 points in early trade today as stocks of oil&gas, PSU, metal, healthcare and banking companies succumbed to profit-booking after two sessions of gains.

The 30-share index declined by 75.33 points or 0.27 per cent to 27,611.97. In the previous two sessions, the gauge gained 481.24 points.

RIL taps Taiwan to raise 1st Formosa bond of $200 million

MUMBAI: After Dimsum, Sushi, Samurai, Rolex, Kangaroo, Bulldog or even Dragon it's now the turn of Formosa bonds. Reliance IndustriesBSE 0.56 % - India's savviest as well as the largest borrower overseas - has just raised $200 million through a fresh bond issuance in the hottest bond market in Asia Taiwan.

According to to multiple sources directly involved with the transaction, RIL has raised 20 year debt paper on Monday, the first from India Inc to do so. Incidentally, RIL will also be the first Asian energy company to tap the Formosa market.

Air India plane with 169 on board makes emergency landing

BHUBANESWAR: A Delhi-Bhubaneswar Air India flight (AI 873) made an emergency landing at Lucknow airport with 169 passengers onboard at about 12.30 pm on Tuesday. All the passengers were safe after the landing.

Airport sources here said that there was minor crack in the windshield forcing the pilot to land at Lucknow airport. The flight left Delhi at 11.30 am and was to land in Bhubaneswar at 1.15 pm.

Considering a new factory in India, says Hyundai Motor's chairman

SEOUL: Hyundai Motor Group's chairman Chung Mong-koo on Tuesday said that it is considering building a new factory in India, according to Yonhap.

"We are reviewing it," M.K. Chung said when asked, after a meeting with Indian Prime Minister Narendra Modi in the South Korean capital, according to the news agency.

Going green: Infosys will spend Rs 400 crore to become carbon neutral

BENGALURU: Infosys will spend about Rs 400 crore over the next four years to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepen its commitment to sustainability, a senior executive at India's second-largest software services company said.

The Bengaluru-based company will have to offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend Rs 70 crore this year on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.

L&T open to spend $1 bn on IT buyouts

Larsen & Toubro, the country's biggest engineering company, is open to spending as much as $1 billion on acquisitions for its software-services unit as the subsidiary prepares for an Initial Public Offering.

Buying companies will help L&T Infotech build scale and compete with larger rivals, R Shankar Raman, L&T's Mumbai-based chief financial officer, said in an interview. The company might spend between $100 million and $1 billion, he said, without being more specific.

Month before Aadhaar deadline: Over 40 crore people still left out

Despite the decisive push given to it by the NDA government since it came to power and by Prime Minister Narendra Modi himself, the ambitious Aadhaar project is far from meeting its target of universal coverage by June this year, also impacting the Direct Benefits Transfer Scheme that is based on it.

While the PM had himself set the deadline of June 2015 for universal enrollment under Aadhaar at a high-level meeting chaired by him in the first week of September last year, the current enrollment figure under the project is only nearly 84 crore as of now. This means that nearly 40 crore of the population is yet to be brought under its ambit. Even the initial target set by this government of 100 crore enrollment at the “earliest” is yet to be achieved.

Tata Gen X Nano launched at a starting price of Rs 1.99 lakh; AMT version starts at Rs 2.69 lakh

MUMBAI: Tata MotorsBSE -0.71 % launched the new Gen X Nano at a starting price of Rs 1.99 lakh (ex-showroom Delhi). The launch is being seen as a make-or-break move for the car. While the manual transmission variants will cost between Rs 1.99 lakh to Rs 2.49 lakh, the easy shift AMT version has been launched between Rs 2.69 lakh to Rs 2.89 lakh.

The GenX Nano, repositioned as a Smart City Car, comes in a record 21 different options and offers all the bells and whistles including automatic transmission and Bluetooth connectivity, is expected to take on entry hatchbacks Maruti SuzukiBSE 0.76 % Alto and Hyundai Eon, which sell about 15,000 units every month.