MUMBAI: Refiner Essar Oil Ltd on Monday said its board had approved delisting of shares from the BSE Ltd and National Stock Exchange of India Ltd.

Essar Oil, a unit of the diversified Essar Group, said its board met on Sunday to decide on the proposal.

MUMBAI: The Securities and Exchange Board of India (Sebi) has issued a fresh show-cause notice to HDFC Mutual Fund, the country's largest asset management company, alleging front-running by a former employee.

Four years ago, the capital markets regulator had banned HDFC Mutual's equities dealer Nilesh Kapadia from trading in the stock market after preliminary investigation revealed he had leaked information about the fund's trades to three market participants in advance.

Mumbai: Larsen and Toubro Ltd (L&T), India’s largest engineering firm, is relocating its mining unit to Kolkata from Chennai to be closer to the major mining belt of east India. It expects revenue to rise as the outlook for this core sector improves with the new government’s thrust on industrial growth.

“This division has been relocated to Kolkata from Chennai in bits and pieces… the design office and bulk materials handling are still in Chennai, but eventually everything will be in Kolkata,” said S.N. Roy, whole-time director and senior executive vice president (corporate affairs and power) at L&T.

New Delhi: In a stern message to Coal India Ltd (CIL) the government has asked the world’s largest coal company to improve efficiency to avoid restructuring.

According to sources, the power and coal minister Piyush Goyal has asked the state-run company to improve the quality of its coal by 31 December 2014.

According to sources, the power and coal minister Piyush Goyal has asked the state-run company to improve the quality of its coal by 31 December 2014.

Faced with a “challenging” economy, Finance Minister Arun Jaitley on Tuesday said the time has come to take measures that will put the country on a faster pace of growth and restore investor confidence.

“With regard to the Finance Ministry...this is a challenging time for it and it is challenging because in the last two years, the economy has moved at a slow pace.

Indian mobile phone carrier Reliance Communications Ltd is set to launch as early as Tuesday an up to $500 million share sale to institutional investors, people directly involved in the deal said.

Reliance Communications, headed by billionaire Anil Ambani, had as of end-March a net debt of 401.78 billion rupees ($6.7 billion), or more than five times its operating profit, making it the most-leveraged among listed Indian carriers.

Gujarat's first woman Chief Minister Anandi Patel today announced a 33 per cent reservation for women in the state police force.

"It is necessary to empower women for their upliftment in society. Thus, my government has decided to provide 33 per cent reservation to women in the police recruitments," announced Patel without elaborating.

Sugar prices today further rose by up to Rs 2 per kg to Rs 33.40 at the wholesale market in the national capital following a slew of measures by the Narendra Modi government including hike in import duty to bail out the industry.

Taking cues from the wholesale market, retail prices also increased by Rs 2 per kg to Rs 39-40 per kg.

Market regulator Sebi has sought clarifications from two rival bidders who have made offers for acquisition of additional stakes in Vijay Mallya-led UB Group's Mangalore Chemicals and Fertilisers Ltd (MCFL).

The clarifications have been sought through merchant bankers of the two rival bidders -- Deepak Fertilisers and Zuari Fertilisers, among which the latter has been joined by the existing promoters of MCFL as 'persons acting in concert'.

The National Democratic Alliance (NDA) government is pushing hard for enhancing skills of labour in various sectors to suit the changing needs of the economy — a promise Prime Minister Narendra Modi has quite often made in his speeches.

The labour ministry has formed a mentor council each for sectors such as automobiles and textile, to revamp various courses run by the National Council for Vocational Training (NCVT).

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