The Indian government is likely to target 400 billion rupees ($7.42 billion) in proceeds from stake sales in state-run companies in the next fiscal year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday. The Indian government is likely to allocate 200 billion rupees ($3.71 billion) for capital infusion in state-run banks in the next financial year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday.
India's capital markets regulator ordered a freeze on the assets and bank accounts of two Sahara Group companies, saying they failed to heed a Supreme Court order to repay billions of dollars collected from investors in outlawed bonds.
Tata Steel Ltd posted its second straight quarterly loss on Wednesday, as weak demand and prices in its main European market squeezed margins.
Coal India Ltd posted a 9 percent increase in quarterly profit, beating market estimates, as strong sales volumes offset rising costs.
Bharat Petroleum Corp Ltd's October-December net profit fell 47.5 percent to 16.48 billion rupees from a year ago.
Indian Oil Corp Ltd will review diesel prices on Friday or Saturday, chairman R.S. Butola said.
India will ensure its refiners have insurance for plants that run crude from Iran, a government source said on Wednesday, allaying fears that imports from the sanctions-hit country may have to be halted.
Shriram Group is in advanced talks with Citigroup Venture Capital and Blackstone Group LP to raise 5.38 billion rupees ($100 million) for its cement business - Sree Jayajothi Cements, Business Standard reported citing unidentified senior Shriram Group officials.
GMR Infrastructure Ltd said it would sell a 74 percent stake in GMR Jadtcherla Expressways to Macquarie SBI Infrastructure Fund for 2.06 billion rupees.
The telecom department has issued notices to the country's three top operators - Vodafone India, Bharti Airtel Ltd and Reliance Communications Ltd - demanding that they pay an additional revenue share for spectrum usage from 2008 onwards.
Wockhardt Ltd may have to withdraw certain batches of pain relief medicine Brexic DT, which