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Modi reviews political situation in Delhi

Narendra ModiNew Delhi: Prime Minister Narendra Modi and top leaders of BJP Tuesday reviewed the political situation in the national capital amid indication that the ruling party at the centre was bracing for fresh elections rather than cobbling together a government with support from MLAs from other parties.

Party sources said besides Modi the meeting was attended by Home Minister Rajnath singh, Finance & Defence Minster Arun Jaitley, External Affairs minister Sushma Swaraj and Road Transport and Highways Minister Nitin Gadkari.

AAP govt violated laws to conduct CAG audit of discoms: Tata Power to HC

AAP govt violated laws to conduct CAG audit of discoms: Tata Power to HCNew Delhi: Aam Aadmi Party had pre-decided to have CAG audit of private discoms and its government later violated statutory and constitutional provisions to fulfill the poll promise, Tata Power Delhi Distribution Ltd (TPDDL) Tuesday told the Delhi High Court.

"One particular party decided in its election manifesto that it will decrease power tariff and will conduct CAG audit of all three private discoms...

More new airlines likely to fly in Indian sky in coming months

More new airlines likely to fly in Indian sky in coming monthsNew Delhi: Several more new airlines are likely to fly in the Indian sky in the coming months with the government giving flying licence to four of the six companies which had sought permits for launching scheduled, private or charter air operations.

MTNL offers to return CDMA spectrum for auction-derived price

MTNL offers to return CDMA spectrum for auction-derived priceNew Delhi: State-run MTNL has informed the Department of Telecom that it is ready to return the entire CDMA spectrum it currently holds if the telecom operator is paid auction-determined price.

"MTNL has offered to surrender entire 800 Mhz band spectrum but it wants an auction-determined price for the surrendered frequencies," a government official said.

As per TRAI recommended price, the value of CDMA spectrum held by MTNL amounts to about Rs 1,937 crore.

President to complete two years in office on July 25

Pranab-MukherjeeNew Delhi, July 22 : President Pranab Mukherjee will complete two years in office on Friday July 25.

A number of activities are being organized to mark this special occasion, the highlight of which is the dedication to the Nation of the new Rashtrapati Bhavan Museum (Phase I).

I'm a selfish actor, says Sonam Kapoor

Sonam-KapoorNew Delhi, July 22 : Sonam Kapoor, who recently unveiled the first look of her upcoming movie 'Khoobsurat'at an event in Mumbai, has said that she is a selfish actor.

"It's just a matter of taking each day and enjoying my work, and saying that I am a selfish actor. I will do the best I can with this role," the 29-year- old actress said.

' Khoobsurat ' is slated to hit the theaters on 19th September 2014. (ANI)

John Abraham to shed 17 kgs for football biopic

John AbrahamNew Delhi: Actor-producer John Abraham is experimenting with his looks in `1911`, a sports biopic on footballer Sibdas Bhaduri, where he will be seen in a leaner avatar.

The 41-year-old soccer enthusiast, who is currently 92 kgs, will transform himself to play the former skipper of Mohun Bagan in the Shoojit Sircar-directed period drama.

Corrupt judge charge: BJP seeks answer from former PM

Manmohan SinghNew Delhi: BJP Tuesday asked former prime minister Manmohan Singh and the Congress to answer allegations of "improper compromises" by three ex-CJIs during UPA rule, saying the matter was "unfortunate".

"Former prime minister Manmohan Singh and Congress should come forward and answer the allegations of how different constitutional bodies, including the judiciary, were misused for political reasons. It is unfortunate and a matter of serious concern," BJP vice president Mukhtar Abbas Naqvi said.

Foreign investors submit bids worth Rs 4,857 cr for govt bonds

Foreign-investorsNew Delhi: Showing robust interest among foreign investors, an auction of government bonds Monday attracted bids worth Rs 4,857 crore -- alomst double the amount of such securities on offer at Rs 2,521 crore.

The auction was held for overseas investors at NSE's electronic platform for government debt securities, as per the information provided by the exchange.

This was the second such auction this month, after earlier bonds worth Rs 5,516 crore attracted bids totalling more than Rs 6,800 crore on July 1.

Idea Cellular Q1 net profit up by 57% at Rs 728.2 crore

Idea Cellular Q1 net profit up by 57% at Rs 728.2 croreNew Delhi: Telecom operator Idea Cellular today posted 57 percent jump in net profit at Rs 728.2 crore for the first quarter ended June 30, 2014, on increased demand in mobility business mainly mobile internet services.

The company had posted a profit after tax of Rs 462.71 crore in the same period a year ago.

Alstom T&D India bags Rs 200-cr order from Power Grid

Alstom-T-and-DNew Delhi: Alstom T&D India today said it has bagged a Rs 200 crore order from Power Grid Corporation of India Ltd (PGCIL) for upgrading grid substations in eastern parts of the country.

"Alstom T&D India has secured an order from Power Grid Corporation of India Ltd... To supply transformers for the upgrade and expansion of 400/220 kv grid substations across eastern India," the company said in a statement.

World Bank chief to meet Jaitley Tuesday, Modi on Wednesday

Jim-Yong-KimNew Delhi: World Bank Group President Jim Yong Kim will on Tuesday meet Finance Minister Arun Jaitley and thereafter Prime Minister Narendra Modi on Wednesday to review key development priorities.

Kim, who reached India today, visited the state of Tamil Nadu. "Tamil Nadu continues to be a source of development knowledge for projects across the world," Kim said.

Kim would meet the Finance Minister tomorrow and the Prime Minister day after, a source said. The World Bank group feels urbanisation can improve lives as 10 million people move into towns and cities every year in India.

Revenue collection expected to exceed target in FY15: Jaitley

Arun-JaitleyNew Delhi, July 21 : Union Finance Minister Arun Jaitley hoped that the revenue targets fixed for Direct Taxes for the current Financial Year 2014-15 would not only be achieved but would also be surpassed.

The current year target for Direct Tax collections is Rs. 7,36,221/- crore. The Finance Minister said that in order to achieve this target, the officers of Income Tax Department will have to work with highest standard of ethics. He said that credibility of the Department is its biggest asset.

SAIL,RINL spend Rs 7,000 cr for plants' maintenance in 3 years

sailNew Delhi: State-owned SAIL and RINL together incurred average expenditure of more than Rs 7,000 crore towards maintenance of different plants in the last three financial years, the government said today.

Replying to queries on accidents at steel plants, the government told the Lok Sabha that all measures are being taken to prevent fatal incidents.

Accidents at steel plants are a "matter of concern" and the government is taking all measures to ensure security of people there, Steel Minister Narendra Singh Tomar said.

Gold price snaps 2-day gains, down Rs 50 at Rs 28,450 per ten gram

Gold-priceNew Delhi: After two days of gains, gold prices fell by Rs 50 to Rs 28,450 per ten gram at the bullion market in the national capital Saturday on stockists selling, triggered by a weak global trend.

Silver followed suit and eased by Rs 350 to Rs 45,150 per kg on reduced offtake by industrial units and coin makers.

Marketmen said stockists selling in tandem with a weak global trend amid speculation that the Federal Reserve will raise US interest rates sooner than expected mainly influenced the sentiment.

Sun Pharma-Ranbaxy deal gets BSE, NSE clearance

Sun Pharma RanbaxyNew Delhi: The USD 4-billion merger of Ranbaxy Labs with Sun Pharmaceutical has got clearance from the two leading stock exchanges -- BSE and NSE.

The 'no-objection' from the two exchanges would allow the two companies to file their scheme of amalgamation with the High Court for further clearance of the deal and marks one of the numerous regulatory approvals that Sun Pharma and Ranbaxy need to consummate for the transaction.

The deal had separately come under scanner of the markets regulator Sebi for alleged insider trading violations and the present 'no-objection' from the exchanges.

Gold futures gain on global cues

Gold futures gain on global cuesNew Delhi - Gold prices rose 0.15 percent to Rs 28,007 per 10 grams in futures trade on Monday as speculators created fresh positions on positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in far-month October was up by Rs 41, or 0.15 percent, to Rs 28,007 per 10 grams in a business turnover of four lots.

The metal for delivery in August moved up by Rs 32, or 0.11 percent, to Rs 28,025 per 10 grams in a turnover of 264 lots.

Tata Power eyes assets for acquisition, overseas opportunities

Tata PowerNew Delhi - Pushing ahead with its expansion plans, Tata Power is scouting for investment opportunities in select overseas geographies and eyeing assets available for acquisition due to financial stress in power sector.

Further, the power major is looking at opportunities for providing management and technical advisory services in distribution business.

These plans are part of the leading private utility's strategy to remain as an integrated player across the power value chain, as per Tata Power's latest annual report for 2013-14.

Higher weight of food items causing high retail inflation: Govt

Higher weight of food items causing high retail inflation: GovtNew Delhi - A higher weight of food items in the consumer price index has kept retail inflation at elevated levels in the country, according to official data.

The high inflation in India owes to "higher weight for the food basket (about 50 percent)" as against 14 percent and 32 percent weights for Korea and China, respectively, according to the data.

The consumer price index-based inflation remained elevated at 9.5 percent in 2013 and 10.2 percent in 2012.

Private power producers to discuss future roadmap for sector

Private power producers to discuss future roadmap for sectorNew Delhi - Private power generating firms will meet later this month to discuss a new roadmap to expedite capacity addition in the sector.

"Power sector issues ranging from fuel shortages to banks' rising non-performing assets and lack of financial accountability on the part of state governments towards discoms, etc will be discussed at the Policymakers and Regulators Retreat this month," Independent Power Producers Association of India said in a statement.


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