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Ambuja Cements asked to deposit $21 mln fine by regulatory tribunal

Ambuja Cements Ltd, India's second-largest cement manufacturer, said it had obtained a stay on an 11.63 billion rupees ($212.21 million) penalty imposed by the country's competition watchdog in June, but has been ordered to deposit 10 percent of the amount.

Ambuja has been asked to deposit 1.16 billion rupees by the regulatory tribunal within four weeks from Friday.

Ambuja is among 11 other cement manufacturers slapped with $1.1 billion in fines in June for price fixing by the Competition Commission of India.

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HPCL shuts CDU unit after fire at Visakhapatnam refinery

A fire broke out late on Thursday at state-run refiner Hindustan Petroleum Corp Ltd'sVisakhapatnam refinery on the east coast, said officials at the unit.

The fire, which was put out immediately, resulted in the shutting down of a 3 million tonnes a year crude distillation unit (CDU) at the refinery, one of the officials said. The extent of the damage and losses due to it is not yet known.

HPCL operates an 8.3 million tonnes a year refinery at Visakhapatnam. It runs another 6.5 million-tonne refinery at Mumbai on India's western coast.

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Coal India earnings may beat estimates

Coal India Ltd may beat Jan-March earnings consensus forecast when it reports results on Monday, according to Thomson Reuters StarMine data.

StarMine's SmartEstimates, which place greater emphasis on forecasts by top-rated analysts, expects Coal India to report a profit of 52.91 billion rupees ($965.42 million) for the quarter compared with a wider consensus mean estimate of 49.97 billion rupees.

Shares in Coal India are down 0.2 percent at 0627 GMT.

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ITC says Q4 profit rises 19.5 pct, meets estimates

India's largest cigarette maker, ITC Ltd , posted a 19.5 percent jump in quarterly net profit on Friday, meeting market expectations.

ITC, which makes four out of every five cigarettes sold in India, said net profit rose to 19.28 billion rupees ($352 million) for the quarter ended March 31, from 16.14 billion rupees a year earlier.

Analysts on average had expected earnings of 19.08 billion rupees, according to Thomson Reuters.

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