Business

The Enforcement Directorate on Saturday said it had attached assets worth over Rs 4,025 crore of Bhushan Power and Steel Limited (BPSL) in connection with its money laundering probe linked to an alleged bank loan fraud.

The central probe agency said it had attached the firm's land, building, plant and machinery located in Odisha under

Signs of economic slowdown became more pronounced after country's industrial production or factory output, measured by the Index of Industrial Production (IIP), registered its worst slump in more than six years in August. The IIP shrank by 1.1 per cent in August

For the second time in less than a month, Air India Assets Holding Ltd (AIAHL) on Thursday raised Rs 7,000 crore through issuance of bonds and the funds would be utilised to repay the debt of Air India.AIAHL''s second bond issue worth Rs 1,000 crore with a green

Domestic stock markets finished the holiday-shortened week with a gain of more than one per cent, with the benchmark indices S-P BSE Sensex and NSE Nifty climbing up and down on two days each. The financial markets remained closed on Tuesday for Dussehra. The Sensex index added 453.77 points for the week, marking a rise of 1.20 per cent. The

The boards of Indiabulls Ventures and Indiabulls Real Estate on Friday approved the proposals of equity share buybacks to the tune of Rs 1,000 crore and Rs 500 crore, respectively.

Capital markets company Indiabulls Ventures said in a filing that its board has approved buyback of upto 6.66 crore equity shares at Rs 150 per share.

"The board of

Issuing an ultimatum to Air India, PSU oil majors on Thursday asked it to make the monthly lump sum payment by October 18 or they will stop the fuel supply at six major airports, according to an official document.

In a letter sent to Air

Finance Minister Nirmala Sitharaman said on Saturday that the government would ensure that Punjab and Maharashtra Co-operative (PMC) Bank depositors' concerns are "comprehensively addressed". The comments came after Nirmala Sitharaman met Reserve Bank of

PMC Bank depositors gathered at the Bharatiya Janata Party (BJP) office in Mumbai just as the Finance Minister Nirmala Sitharaman was to arrive there. Their only demand was that the government should intervene in the PMC bank case.

Ms Sitharaman said the finance ministry is doing

Crisis-hit IL-FS Group has put 13 of its properties in prime locations across Mumbai, Hyderabad and Kolkata up for sale and has invited expressions of interest (EoI) for the same.

Out of the total 13 properties, 11 are in Mumbai. The properties put on the

Gold purchases in India around Dussehra were lower-than-usual because of higher prices, while demand in top-consumer China was subdued this week as investors awaited the outcome of crucial trade negotiations with the US. The Dussehra festival - when buying gold is considered auspicious - was celebrated in India on Tuesday,

Infosys, the country's second largest software services company, on Friday reported a net profit of Rs 4,019 crore for the quarter ended September 30. That marked an increase of 5.8 per cent in its net profit compared with the previous quarter. Infosys' revenue from operations rose

State-run BSNL on Thursday said its revival plans are under active consideration of the government through VRS and 4G spectrum allocation.

"Recently, there have been published media reports on clsoure of BSNL. It is clarified that there is a

State Bank of India (SBI) - the country's largest bank - has prescribed certain average monthly balances (AMB) for those holding savings accounts at its four types of branches. For example, SBI customers holding regular savings accounts at its

The S-P BSE Sensex and NSE Nifty 50 indexes rebounded in today's session led by gains in Infosys, HDFC, Hindustan Unilever, ICICI Bank and ITC. For most part of the day, Sensex and Nifty traded in the narrow band and erased gains in late morning deals on the back of sharp dip in the

India Ratings and Research (Ind-Ra) on Thursday slashed India's gross domestic product (GDP) forecast for 2019-20 to 6.1 per cent for the second time in two months.

Ind-Ra had earlier revised its GDP growth estimate to 6.7 per cent from its earlier forecast of 7.3

Domestic petrol and diesel prices were lowered on Saturday, marking a third straight day of reduction. In Delhi and Mumbai each, the price of petrol was lowered by 10 paise per litre, while diesel rates were cut by 14 paise per litre and 15 paise per

Shares of the country's largest IT services company - Tata Consultancy Services (TCS) - fell as much as 3.76 per cent to Rs 1,929 on the BSE after company reported its September quarter earnings after market hours on Thursday. On the National Stock Exchange, TCS share price declined as much as

State Bank of India or SBI has reduced its benchmark lending rate by 10 basis points or 0.10 percentage points across all tenors. The new rate, effective from today, marks the sixth reduction by SBI this financial year. SBI's marginal cost-based lending rate or MCLR, the

Reflecting the deepening economic crisis arising from both structural and cyclical issues and a massive fall in consumption demand, bank credit growth rate, for the first time this financial year, slowed to single digit at 8.8 per cent to Rs 97.71 lakh crore

Passenger vehicle sales in the country fell 23.69 per cent last month, data from industry body SIAM or the Society of Indian Automobile Manufacturers showed on Friday. That marked the longest ever streak of

Reliance Jio on Thursday said that customers who recharged their numbers on or before October 9 will continue to get free call benefits. "If you have recharged on or before October 9, you can continue enjoying free call benefits (even to non-Jio members), until your plan expires," the

Reliance Jio's move to charge voice calls at 6 paise a minute to other networks may improve the revenues for incumbents, CARE Ratings said on Friday.

"Reliance Jio's move to recover IUC from the customers points out that the telco aims to increase its ARPU (average revenue per user) and

India's passenger vehicle sales slumped 23.7 per cent in September, the eleventh straight month of declines, prompting an industry body to flag more job cuts if sales failed to pick up soon. Passenger vehicle sales dropped to

The rupee closed flat at 71.07 against the dollar on Thursday as the anxiety over US-China trade talks kept investors on the edge. At the forex market, the rupee had opened at 70.96 against the dollar. During the day, the domestic unit fluctuated between a high of 70.87 and a low of 71.15. The r

The Reserve Bank of India's (RBI) Central Board met in Chandigarh on Friday and reviewed the current economic situation, global and domestic challenges and various areas of operation of the central bank as economic slowdown becomes more pronounced and the latest manipulation

Moody's Investors Service on Thursday cut its growth forecast for India for the fiscal year that began in April to 5.8 per cent from 6.2 per cent and said a weaker growth outlook will dampen the prospects for fiscal consolidation.

The ratings agency had lowered

The country's foreign exchange reserves surged by $4.24 billion to touch a record high of $437.83 billion in the week to October 4, according to the latest data from the Reserve Bank of India.

In the previous week, the reserves had surged by massive $5.02

Retail inflation probably reached a 12-month high in September, but still leaving room for further interest rate cuts because it's expected to remain below the Reserve Bank of India's target, according to a Reuters poll.

An extended monsoon has delayed

Reliance Jio, the telecom arm of Reliance Industries, on Wednesday announced four top-up vouchers for making calls to other mobile operators. Interconnect Usage Charge (IUC) is a cost paid by one mobile telecom operator to another for enabling its customers to make outgoing