Tata Steel said it was likely to write down a total of Rs 65 billion for the 2014-15 fiscal mainly due to impairment of a unit in the UK, a part of its European operations, and a coal project in Mozambique.

India's key infrastructure sector remained under stress in March with data showing that annual growth in output fell, dragged down by a sharp decline in cement and steel sectors.

Anil Agarwal-led Sesa Sterlite, which was renamed as Vedanta recently, has been hit hard by falling crude prices as it booked nearly Rs 200 billion ($3 billion) as “goodwill impairment charges” related to its oil and gas business.

To make it easy to do business in India, the central government has rationalised certain documentation procedures required for companies

India's inflation is likely to average 3.7 per cent in the current fiscal, which is higher than the 2 per cent recorded in the last fiscal, a Dun & Bradstreet research report said