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Market likely to be flat ahead of F&O expiry; SBI in focus

Market likely to be flat ahead of F&O expiry; SBI in focus

Japanese stocks rose to a near 11-month high on a weaker yen and after Wall Street shares closed at record highs overnight, while the dollar's bull run continued as upbeat economic data took US bond yields to multi-year highs. he market is likely to be flat ahead of November Futures and Options (F&O) expiry as the SGX Nifty indicates a tepid start on Dalal Street. In Asia, Japan drove gains amidst the dollar surge. Japanese stocks rose to a near 11-month high on a weaker yen and...

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India Imported Rs 13,853 Crore APIs From China In FY 2016

India Imported Rs 13,853 Crore APIs From China In FY 2016

New Delhi: Burgeoning imports of Active Pharmaceutical Ingredients from China has become a concern, prompting the National Security Advisor to warn the government of over-dependence on the neighbouring country in the supply of essential drugs and APIs, Parliament was informed on Friday.  India imported Active Pharmaceutical Ingredients (APIs) worth Rs 13,853.20 crore from China in 2015-16, or 65.29 per cent of the total API imports of Rs 21,216.91 crore, Minister of State for...

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July CPI rises to 6.07% vs 5.77% MoM; Jun IIP at 2.1% vs 1.2%

July CPI rises to 6.07% vs 5.77% MoM; Jun IIP at 2.1% vs 1.2%

Soaring food prices in July kept India's headline inflation above the Reserve Bank of India's (RBI) near-term target, underscoring the challenge facing the next central bank governor. Consumer prices rose at a faster-than-expected pace to 6.07 percent last month from a year ago, up from June's 5.77 percent annual gain, government data showed on Friday. Economists surveyed by Reuters had expected retail inflation to come in at 5.90 percent. It is the fourth straight reading above the...

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Most Effective stocks By GST

Most Effective stocks By GST

GST Beneficiaries: HUL, Dabur, Marico,  Nestle, Pidilite, Bajaj Auto, M&M, Maruti, Hero MotoCorp, TVS Motor,Asian Paints,  Kansai Nerolac, Berger Paints,Kajaria Ceramics,  Asian Granito, Somany Ceramic, HSIL,V-Guard, Havells,  Crompton Consumer,UltraTech, ACC,  Ambuja, Ramco Cement, Sanghi Cement,Shree Cem,  JK Lakshmi, JK Cement, Dish TV, PVR,  Inox Leisure,VRL Logistics, Sical Logistics, Container Corp, GATI, Aegis Logistics,  Snowman Logistics,...

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Indian firms beat Chinese in profitability

Indian firms beat Chinese in profitability

India’s top companies are set to outperform their Chinese peers despite the country’s infrastructure bottlenecks. According to global rating agency Standard & Poor’s (S&P), Indian private companies outperform both the Indian government-related entities and Chinese companies by registering the highest (and relatively stable) returns. However, the rating agency added that poor infrastructure could become a hurdle for the government’s ambitious ‘Make in...

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GST Bill in Rajya Sabha on Tuesday likely; I am keeping fingers crossed, says Arun Jaitley

GST Bill in Rajya Sabha on Tuesday likely; I am keeping fingers crossed, says Arun Jaitley

Armed with in-principle support from most of the political parties, the government has listed the Goods and Services Tax Bill for introduction in the Rajya Sabha next Tuesday, according to media reports. Junior Parliamentary Affairs Minister Mukhtar Abbas Naqvi told the Upper House earlier that the Bill will be taken up next week. The government is gearing up for the five-and-half hour discussion in the Rajya Sabha. As part of this, prime ministerNarendra Modi held a...

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FDI surges 46% at $62 bn

FDI surges 46% at $62 bn

Report says that government is taking various measures like opening up FDI in many sectors, carrying out FDI related reforms and improving ease of doing business, says Sitharaman. Foreign direct investment during October 2014 and May this year was higher by 46% to US$ 61.58 billion, Parliament reportedly said. “During October 2014 to May 2016, FDI equity inflow has increased by 46 per cent i.e from USD 42.31 billion to USD 61.58 billion in comparison to previous 20 months (February...

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Wipro buys back shares from Premji-owned trusts

Wipro buys back shares from Premji-owned trusts

Last year, Premji pledged to donate more than half of his holdings in Wipro to his trusts.   Wipro bought back shares worth Rs. 1963 crore from two trusts owned by chairman Azim H Premji, according to reports.   Report says that the two trusts - Azim Premji Philanthropic Initiatives Pvt Ltd and Azim Premji Trust sold close to 31.4 million shares.    Last year, Premji pledged to donate more than half of his holdings in Wipro to his trusts.   

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Wall Street ends higher

Wall Street ends higher

Wall Street ended higher and the S&P 500 and Dow industrials set fresh records after Microsoft's strong results   Wall Street ended higher and the S&P 500 and Dow industrials set fresh records after Microsoft's strong results.   The Dow Jones rose 36.02 points, or 0.19 per cent, to 18,595.03, while S&P 500 gained 9.24 points, or 0.43 per cent, to 2,173.02.   The Nasdaq Composite added 53.56 points, or 1.06 per cent, to...

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Microsoft Q4 revenue at $22.6 bn

Microsoft Q4 revenue at $22.6 bn

“This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations,” said Satya Nadella, chief executive officer at Microsoft. “The Microsoft Cloud is seeing significant customer momentum and we’re well positioned to reach new opportunities in the year ahead.”   Microsoft Corp. today announced the following results for the quarter ended June 30, 2016: Revenue was $20.6...

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Top 6 stocks in focus: Cairn India, Infosys, Wipro

Top 6 stocks in focus: Cairn India, Infosys, Wipro

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Cairn India: The Board of Directors of the Company will be held on July 21, 2016,  to consider the unaudited financial results of the Company for the quarter ended June 30, 2016. Infosys: The company's senior Vice President Vasudeva Nayak has resigned, according to reports. Dewan Housing Finance Corporation Ltd: The Board of Directors of the company has...

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HGS announce availability of 250 new career opportunities at Windsor

HGS announce availability of 250 new career opportunities at Windsor

The HGS job fair will take place in the Tecumseh Mall on Thursday, July 21 from 11 a.m. to 7 p.m. Applicants interested in a career with HGS are encouraged to bring their resume to the event or apply online at www.joinhgs.com. Previous customer service experience and basic computer skills are an asset.   Hinduja Global Solutions Limited  announced the availability of 250 new career opportunities at its Windsor customer experience center. HGS will hold a job fair this week to...

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Top 6 stocks in focus: Bharti Airtel, Wipro, Hindalco

Top 6 stocks in focus: Bharti Airtel, Wipro, Hindalco

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Wipro: The company warned that Britain’s exit from the European Union could lead to delays in discretionary spending by clients in the medium term, says report. Bharti Airtel: The company has used funds realised from sales of its two African subsidiary to Orange for paying bank debt, says report. JBM Auto: The company said it will invest Rs 300 crore for...

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Promoters of Max Life negotiating non-compete fee with HDFC life

Promoters of Max Life negotiating non-compete fee with HDFC life

Earlier,HDFC Life and Max Life said they would explore options of merging their businesses to create India's biggest private life insurer. Promoters of Max Life and Max Financial Services are negotiating 'non-compete fee' from HDFC Life, according to reports. Earlier,HDFC Life and Max Life said they would explore options of merging their businesses to create India's biggest private life insurer. Report says that Max Life will merge with its listed parent Max Financial...

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Top 17 stocks in focus today: Wipro, JSW Energy, MindtreeTop 17 stocks in focus today: Wipro, JSW Energy, Mindtree

Top 17 stocks in focus today: Wipro, JSW Energy, MindtreeTop 17 stocks in focus today: Wipro, JSW Energy, Mindtree

Check out the companies which will be in focus during trade today based on recent and latest news developments. Wipro: The company will announce its Q1 result today. Mindtree: Mindtree, IT consulting firm, reported a consolidated net profit of Rs. 123.5 crore for the quarter ended 30th June, 2016 registering a decline of 7.14% qoq and 3.74% yoy. Jaiprakash Power, JSW Energy: JSW Energy has agreed to acquire the 500 MW (2X250 MW) thermal power plant located at Bina in Madhya...

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LT Foods acquires 817 Elephant brand of rice through UK subsidiary

LT Foods acquires 817 Elephant brand of rice through UK subsidiary

LT Foods Limited has acquired iconic brand 817 Elephant brand of rice through its UK subsidiary LT Foods International Limited to further strengthen its existing presence in Canada, USA and Israel. LT Foods Limited has acquired iconic brand 817 Elephant brand of rice through its UK subsidiary LT Foods International Limited to further strengthen its existing presence in Canada, USA and Israel.   The scrip opened at Rs. 292.1 and touched a high and low of Rs. 296.05 and Rs. 283...

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HCL Technologies appoints Vijay Kumar as COO

HCL Technologies appoints Vijay Kumar as COO

A role of Chief Operating Officer has been established to accelerate growth in the core business. C Vijay Kumar, currently President, Infrastructure Services will take on this additional responsibility and continue to report to Anant Gupta, President & CEO.   HCL Technologies (HCL), a leading global IT services company, will further strengthen its 21st Century Enterprise strategy. The 21st Century Enterprise strategy is a blueprint for re-aligning IT consumption formats to...

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Airtel drops pre-paid data tariffs

Airtel drops pre-paid data tariffs

Under the revised data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data vs 3 GB earlier, an increase of 67%.Bharti Airtel (“Airtel”), India’s largest telecommunications services providers, today announced an effective reduction in pre-paid data tariffs byincreasing data benefits on some of its pre-paid data recharge packs.Airtel customerswill now enjoy more value on these existing packs and can add to their mobile internet experience by staying online...

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PM Modi urges political parties to keep national interests above everything else

PM Modi urges political parties to keep national interests above everything else

Responding to suggestions from some leaders for increasing the sittings of Parliament, Prime Minister said he welcomed the suggestion and urged the leaders to ensure proper utilization of the available time.   Prime Minister Narendra Modi has urged all the political parties to keep national interests above any other considerations. Speaking today at a meeting of Leaders of various parties convened by the Government ahead of the Monsoon session, he said that ‘‘we represent...

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Nitin Gadkari invites Indian Origin Silicon Valley Professionals to participate in India’s Start-up Movement

Nitin Gadkari invites Indian Origin Silicon Valley Professionals to participate in India’s Start-up Movement

Addressing a series of meetings organized by various outfits of Indian origin professionals in San Francisco over the last two days, Gadkari said NDA government’s revolutionary policy initiatives have brought about a lot of positivity among the entrepreneurs across the globe and today India has the world’s third largest number of start-ups.   Union Minister of Road Transport, Highways and Shipping Nitin Gadkari has invited Silicon Valley professionals of Indian origin to...

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Airlines to pay huge compensation for flight cancellation

Airlines to pay huge compensation for flight cancellation

As per the revised compensation norms, which are effective from August 1, an airline will have to pay up to Rs 10,000 to a flier in the case of cancelling/delaying a flight beyond two hours   Cancelling a flight or denying boarding to a flier will be cost heavily to domestic airlines as DGCA has come up with the new guidelines Report says that as per the revised compensation norms, which are effective from August 1, an airline will have to pay up to Rs 10,000 to a flier in the...

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Reliance Industries reorganises its fuel retail business

Reliance Industries reorganises its fuel retail business

RIL has merged its 361 'company owned-company operated' fuel retail pumps with its organised retail business.   Reliance Industries has reorganised its fuel retail business to hive off the fuel retail outlets owned by the company and merge them with its organised retail arm, according to reports. Report says that this move comes to develop retail offerings at these petrol pumps.  RIL has merged its 361 'company owned-company operated' fuel retail pumps with...

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Top 7 stocks in focus: HUL, RIL, HCL Tech

Top 7 stocks in focus: HUL, RIL, HCL Tech

Check out the companies which will be in focus during trade today based on recent and latest news developments.   HUL: A meeting of the Board of Directors of the Company will be held on July 18, 2016 to take on record the unaudited financial results for the quarter ended June 30, 2016 (Q1) along with the limited review report of the auditors for the corresponding period. Mindtree: The Company will consider the audited financial results of the Company for the quarter ended June 30,...

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No GAAR on P-note maturity, Govt should clarify, says ASSOCHAM

No GAAR on P-note maturity, Govt should clarify, says ASSOCHAM

benefits to P-note holders should not be the criteria for evaluating commercial substance at the FPI level. It should be clarified that GAAR provisions will not apply to an FPI on redemption/ maturity of P-Notes,” the ASSOCHAM memorandum stated.   In order to instill confidence in the global investors and encourage them to retain their interest in the Indian stock market, the government should come out with a clarification that the General Anti-Avoidance Rules (GAAR) would not...

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India Ratings assigns AAA rating on SBI, BoB, UBI, Canara

India Ratings assigns AAA rating on SBI, BoB, UBI, Canara

India Ratings affirmed ratings of SBI, Bank of Baroda, Union Bank of India and Canara Bank.   Rating agency India Ratings affirmed the long-term issuer ratings on four state-owned banks at AAA, according to reports, Report says that India Ratings affirmed ratings of SBI, Bank of Baroda, Union Bank of India and Canara Bank.    "The ratings is driven by expectations of continued strong support from the government," agency reportedly said.  

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Indian Hotels completes sale of Taj Boston hotel and other corporate news

Indian Hotels completes sale of Taj Boston hotel and other corporate news

Check out the latest corporate news.   HCC has agreed to adopt the Scheme for Sustainable Structuring of Stressed Assets, also known as the S4A scheme. This was recently introduced by the RBI. (BL) Suzlon’s first wind site in India, comprising 10 wind turbines located at Dhank in Gujarat, has completed 20 years of successful operations. (BL) Indian Hotels Company (IHC) has completed the sale of its Taj Boston hotel for USD125mn (about Rs8.39bn). (BL) The government has...

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TCS to announce Q1 results today

TCS to announce Q1 results today

The Company will be publishing its financial statements prepared under Ind AS when it announces its Q1 earnings for FY17 on July 14, 2016 and not as per Indian GAAP. Tata Consultancy Services Ltd has announced that as per Ministry of Corporate Affairs notification dated February 16, 2015, listed and unlisted companies with net worth of Rs. 500 crore or more including the parent or subsidiaries of such companies will have to prepare their financial statements following Ind AS with effect from...

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Top 6 stocks in focus: TCS, SRS, Adani Transmission

Top 6 stocks in focus: TCS, SRS, Adani Transmission

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Tata Consultancy Services Ltd: The company has announced that as per Ministry of Corporate Affairs notification dated February 16, 2015, listed and unlisted companies with net worth of Rs. 500 crore or more including the parent or subsidiaries of such companies will have to prepare their financial statements following Ind AS with effect from April 01, 2016 with...

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KKR plans to invest Rs. 520 crore in Kwality

KKR plans to invest Rs. 520 crore in Kwality

The company will use part of the proceeds to meet capital expenditure for further strengthening milk procurement infrastructure.   US private equity firm KKR is planning to invest Rs. 520 crore in Kwality Ltd, through structured debt instruments, according to reports. Report says that the company will use part of the proceeds to meet capital expenditure for further strengthening milk procurement infrastructure. Kwality Ltd ended at Rs. 111.25, up by Rs. 0.1 or 0.09% from its...

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TCS Q1 FY17 results: Six things to watch out for

TCS Q1 FY17 results: Six things to watch out for

Brexit, wage hikes, rise in visa costs, currency volatility and softness in Diligenta and Japan, are likely to impact the revenue growth in first quarter of FY17. Tata Consultancy Services (TCS), largest IT firm of the country, will announce financial results for the first quarter ended June 30, 2016 on July 14. The company beat street estimates in Q4 FY16 and is expected to continue the momentum in FY17 driven by digital growth. Q1 is traditionally a strong quarter for IT companies....

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Results to watch out for! Reliance Industrial Infra, Network 18 in focus

Results to watch out for! Reliance Industrial Infra, Network 18 in focus

The results which are expected today are Reliance Industrial Infrastructure Ltd, Aqua Pumps Infra Ventures, Cupid. The results which are expected today are Reliance Industrial Infrastructure Ltd, Aqua Pumps Infra Ventures, Cupid, Infomedia Press, LGB Forge, Mega Nirman and Industries, Network 18 Media & Investments and TV18 Broadcast. Stock view: Reliance Industrial Infrastructure Ltd ended at Rs. 440.15, down by Rs. 0.8 or 0.18% from its previous closing of Rs. 440.95 on the...

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Top 6 stocks in focus: Coal India, Tata Power, HDFC

Top 6 stocks in focus: Coal India, Tata Power, HDFC

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Coal India Ltd: The Board of Directors of the Company will be held on July 11, 2016, inter alia, to consider the proposal for Buy Back of equity shares of the Company and appointment of intermediaries in accordance with all applicable laws. Greaves Cotton Limited: The company announced its foray into multi brand spares business, an extension to its after-market...

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Top 6 stocks in focus: Tata Steel, TCS, ITC

Top 6 stocks in focus: Tata Steel, TCS, ITC

Check out the companies which will be in focus during trade today based on recent and latest news developments. Nila Infrastructures Ltd: The company has received a work order from Ahmedabad Municipal Corporation (AMC) for the Integrated Slum In-situ Development for P.P.P. Project (Phase-ll) of approximate 80 residential units at Ahmedabad under Urban Development & Urban Housing Department, Government of Gujarat's Slum Rehabilitation and Redevelopment Policy – 2013. Tata...

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Top 8 stocks in focus: Lupin, DLF, Mahindra Holidays

Top 8 stocks in focus: Lupin, DLF, Mahindra Holidays

Check out the companies which will be in focus during trade today based on recent and latest news developments. Lupin: The company has received notification that the inspection carried out by the US FDA in July 2015 at its Goa Facility is now closed and the agency has issued Establishment Inspection Reports (EIR). Mahindra Holidays & Resorts India Ltd: The company announced that Holiday Club Resorts Oy, Finland, step-down subsidiary of the Company, has signed a Joint Venture (JV)...

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Venkaiah Naidu assumes charge as Minister of Information & Broadcasting

Venkaiah Naidu assumes charge as Minister of Information & Broadcasting

Venkaiah Naidu said that the Government’s mission would be to enable public communication for the development of the country and the community.   Venkaiah Naidu said that the Government’s mission would be to enable public communication for the development of the country and the community. He stated this after assuming charge as Minister of Information and Broadcasting here today. Shri Arun Jaitley, Minister for Finance and Corporate Affairs, Rajyavardhan Rathore, MoS...

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Manoj Sinha takes over as new MOS (Independent charge) Ministry of Communications

Manoj Sinha takes over as new MOS (Independent charge) Ministry of Communications

Manoj Sinha is a Member of Parliament from Gazipur Lok Sabha Constituency, Uttar Pradesh. He was re-elected to Lok Sabha (3rd Term) in May, 2014. Earlier he was elected to Lok Sabha in the year 1996 and 1999. Manoj Sinha has assumed the charge of Minister of State(Independent charge), Ministry of Communications in Sanchar Bhawan today i.e. 06.07.2016. In addition, he is already holding the charge of Minister of State for Railways. Manoj Sinha is a Member of Parliament from Gazipur Lok Sabha...

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Govt sets up committee to examine possibility of new financial year

Govt sets up committee to examine possibility of new financial year

The Committee will examine the merits and demerits of various dates for the commencement of the financial year including the existing date (April to March), taking into account the various relevant factors.   The Government of India today constituted a Committee to examine the desirability and feasibility of having ‘a new financial year’. The Committee headed by Dr. Shankar Acharya (former Chief Economic Adviser) has K.M. Chandrasekhar (former Cabinet Secretary), Shri...

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India Inc enthused by decisive Cabinet reshuffle by PM, says ASSOCHAM

India Inc enthused by decisive Cabinet reshuffle by PM, says ASSOCHAM

“If the GST Bill is passed in the ensuing Monsoon session of Parliament, that will be a master stroke for a huge uplift in the business sentiment even as the implementation of the new taxation regime would still take time,” ASSOCHAM Secretary D S Rawat said     By undertaking a decisive reshuffle of his Council of Ministers, Prime Minister Mr Narendra Modi has conveyed a strong resolve to put a premium on performance of his colleagues to improve quality of...

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Power Finance Corp: Transfer of wholly owned subsidiary of PFC Consulting

Power Finance Corp: Transfer of wholly owned subsidiary of PFC Consulting

Power Finance Corporation Ltd has announced that Warora-Kurnool Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited (wholly owned subsidiary of Power Finance Corporation), established for development of Transmission System for "Additional inter-Regional AC link for import into Southern Region. Power Finance Corporation Ltd has announced that Warora-Kurnool Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited (wholly owned subsidiary of Power...

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Claris Lifesciences gets ANDA nod for Tobramycin Injection

Claris Lifesciences gets ANDA nod for Tobramycin Injection

The company has received approval for Tobramycin Injection.   Claris Lifesciences Ltd has announced that it has received ANDA approval for Tobramycin Injection. Claris Lifesciences Ltd ended at Rs. 217.2, up by Rs. 1.45 or 0.67% from its previous closing of Rs. 215.75 on the BSE.   The scrip opened at Rs. 218.35 and touched a high and low of Rs. 219.8 and Rs. 215.2 respectively. A total of 20943(NSE+BSE) shares were traded on the counter. The current market cap of the...

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Kajaria Ceramics to consider the scheme of amalgamation of Kajaria Securities

Kajaria Ceramics to consider the scheme of amalgamation of Kajaria Securities

Kajaria Ceramics Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 11, 2016, inter alia, to consider and approve the Scheme of Amalgamation of Kajaria Securities Private Limited. Kajaria Ceramics Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 11, 2016, inter alia, to consider and approve the Scheme of Amalgamation of Kajaria Securities Private Limited ("KSPL") with Kajaria Ceramics Limited...

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Wall Street ends higher

Wall Street ends higher

The Nasdaq Composite added 36.26 points, or 0.75 percent, to 4,859.16. US stocks ended higher on positive US economic data and a late jump in oil prices.  The Dow Jones rose 78 points, or 0.44 percent, to 17,918.62, the S&P 500 gained 11.18 points, or 0.54 percent, to 2,099.73. The Nasdaq Composite added 36.26 points, or 0.75 percent, to 4,859.16. 

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Top 8 stocks in focus: Lupin, Tata Power, Claris Lifesciences

Top 8 stocks in focus: Lupin, Tata Power, Claris Lifesciences

Check out the companies which will be in focus during trade today based on recent and latest news developments.   3i Infotech Ltd: The FCCB Committee of the Board at its meeting held on July 05, 2016 has approved issuance of foreign currency convertible bonds of up to US$ 52,000,000 ("New Bonds") to the existing bondholders of the Company, in exchange for the existing foreign currency convertible bonds. Lupin: Lupin and Dr Reddy’s are recalling over 1.7 lakh...

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Sudarshan Sen takes charge as new Executive Director at RBI

Sudarshan Sen takes charge as new Executive Director at RBI

Sen, a career central banker who has long association with bank supervision and regulation, was in charge of the Department of Banking Regulation before taking over as Executive Director.   Sudarshan Sen has taken over as the new Executive Director at the Reserve Bank of India today. He will look after Department of Banking Regulation, Department of Co-operative Banking Regulation and Department of Non-Banking Regulation. Sen, a career central banker who has long association with...

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Employment will not rise at anywhere close to GDP rate: Rahul Bajaj

Employment will not rise at anywhere close to GDP rate: Rahul Bajaj

Bajaj said each year India is producing an extra 12 million young people of an age that makes them ready for the nation’s workforce.   Bajaj Auto Chairman Rahul Bajaj reportedly said that although India’s GDP can hit a steady-state of around 8.5% for several years, employment “will not rise at anywhere close to that rate of growth”. Bajaj said each year India is producing an extra 12 million young people of an age that makes them ready for the...

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IFCI sells 0.5% stake in NSE

IFCI sells 0.5% stake in NSE

Last week, SBI had sold 5% stake in the bourse NSE to Mauritius-based Veracity Investments for Rs 911 crore IFCI has sold about 0.5% stake in NSE for Rs 89 crore, according to reports, Report says that IFCI sold 2.25 lakh shares, or a 0.5 per cent stake, in the stock exchange at a price of Rs 3,950 apiece. Last week, SBI had sold 5% stake in the bourse NSE to Veracity Investments for Rs 911 crore. IFCI Ltd ended at Rs. 28.05, up by Rs. 1.2 or 4.47% from its previous closing of Rs....

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Subex converts $500000 bonds into equity

Subex converts $500000 bonds into equity

Subject to the listing & trading approval of the NSE and BSE the paid up share capital of the Company has increased from Rs. 5,04,75,19,940 to Rs. 5,06,90,79,360. Subex Ltd has announced that the Company has allotted 21,55,942 equity shares pursuant to the conversion of US$ 500,000 out of the Company’s US$ 4.10 million bonds that are outstanding under the US$ 127,721,000 5.70 per cent secured convertible bonds due 2017 on July 04, 2016. Post the conversion, FCCBs aggregating to US$...

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Bharti Infratel issues Rs. 2,000-Crore Buy-Back Offer

Bharti Infratel issues Rs. 2,000-Crore Buy-Back Offer

The buy-back issue will close on July 25.   Bharti Infratel has issued its shareholders a buy-back offer worth Rs 2,000 crore, according to reports.   Report says that the total number of shares to be bought back in the buy-back shall be 4,70,58,823.   The buy-back issue will close on July 25, says report. Bharti Infratel has set June 16, 2016 as record date for determining the buy-back entitlement.  

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Govt increases prices of kerosene

Govt increases prices of kerosene

The cost to produce a litre of kerosene is Rs 26.52, while it is sold at Rs 15.28, according to Petroleum Planning and Analysis Cell reportedly said.   The government raised the price of kerosene for the first time in five years, according to reports. Report says that the government’s long-term plan is to reduce the consumption of kerosene by providing more LPG in rural areas. The cost to produce a litre of kerosene is Rs 26.52, while it is sold at Rs 15.28, according to...

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Top 10 stocks in focus: RIL,Tata Steel, Grasim Industries

Top 10 stocks in focus: RIL,Tata Steel, Grasim Industries

Check out the companies which will be in focus during trade today based on recent and latest news developments. Tata Steel: The company said its hot steel production rose by 16.66 per cent to 3.01 million tonnes (MT) in the first quarter of the current fiscal. Bajaj Auto: Rahul Bajaj reportedly said that although India’s GDP can hit a steady-state of around 8.5% for several years, employment “will not rise at anywhere close to that rate of growth”. Usher Agro Ltd: The...

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Top 15 stocks in focus today: SBI, Tata Motors, Coal India, Jaiprakash Associates

Top 15 stocks in focus today: SBI, Tata Motors, Coal India, Jaiprakash Associates

Check out the companies which will be in focus during trade today based on recent and latest news developments. SBI: State Bank of India has informed the Exchange that With reference to the captioned matter, company advise having sold 5% stake in National Stock Exchange of India Limited (NSE) constituting 22,50,000 equity shares of NSE to Veracity Investments Limited, a Mauritius based FII, on 30 .06.2016 at Rs.4050 per share for a total consideration of Rs.911 crore. Tata...

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KPIT Tech expects flattish revenue in Q2

KPIT Tech expects flattish revenue in Q2

The Company is going through internal changes in structure as well as external changes in the business environment. KPIT Technologies Ltd has announced that at the beginning of the financial year, the Company had stated revenues to be flattish in the first 2 quarters of the year. The Company is going through internal changes in structure as well as external changes in the business environment. The Company's traditional revenues from ERP implementations are affected more than...

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Adani Transmission plans to raise Rs. 1000 crore

Adani Transmission plans to raise Rs. 1000 crore

The said NCDs will be listed on the Wholesale Debt Market segment of BSE Limited. Adani Transmission Ltd has informed BSE that the Company has raised Rs. 1,000 Crores (Rupees One Thousand Crores only) on June 30, 2016 by allotment of 10,000 Rated, Listed, Taxable, Secured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs. 10,00,000/- each issued under two separately transferable principal parts of NCDs on private placement basis. The said NCDs will be listed on the...

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Dewan Housing Finance plans to raise funds via NCDs

Dewan Housing Finance plans to raise funds via NCDs

Dewan Housing Finance Corporation Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 05, 2016, to consider fund raising. Dewan Housing Finance Corporation Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 05, 2016, to consider fund raising by way of public issue of secured Non-Convertible Debentures (NCDs).   Dewan Housing Finance Corporation Ltd ended at Rs. 203.6, up by Rs. 1.85 or 0.92% from...

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Strides Shasun completes US FDA inspection at Bangalore plant

Strides Shasun completes US FDA inspection at Bangalore plant

Strides Shasun announces successful completion of US FDA inspection. Strides Shasun announces successful completion of US FDA inspection at its Oral Dosage Facility in Bangalore. The Bangalore facility manufactures oral dosage forms including tablets, capsules, ointments and liquids.   Strides Shasun Ltd ended at Rs. 1128.55, up by Rs. 9.9 or 0.88% from its previous closing of Rs. 1118.65 on the BSE. The scrip opened at Rs. 1125 and touched a high and low of Rs. 1135 and Rs....

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Wall Street ends higher

Wall Street ends higher

Dow Jones was up 167.31 points, or 0.95 per cent, at 17,861.99, while the S&P 500 was up 18.1 points, or 0.87 per cent, at 2,088.87.   Wall Street ended higher after Bank of England Governor Mark Carney raised the prospect of an interest rate cut following Britain's vote to leave the European Union.  Carney reportedly said monetary policy easing would likely be required over the summer and that the BoE had measures in place to prop up the country's economy. Dow...

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Growing e-commerce to invest $8 billion in infra, logistics

Growing e-commerce to invest $8 billion in infra, logistics

The overall e-commerce industry, valued at $25 billion has been growing at a compounded annual growth rate of about 35-40 per cent each year, the study said, adding that it is expected to cross the $100 billion mark in five years, adds the paper With the growing popularity of online shopping which is expected to catapult the e-commerce market to $80 billion by 2020 in India, the online companies are expected to invest close to $6-8 billion in logistics, infrastructure and warehousing in the...

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Maruti Suzuki joins hands with Andhra Govt to set up Institute of Driving Training

Maruti Suzuki joins hands with Andhra Govt to set up Institute of Driving Training

The MoU was signed by N. Balasubramanyam, Transport Commissioner, State of Andhra Pradesh and Mahesh Rajoria, Assistant Vice President (Driving Training), Maruti Suzuki India Limited in the presence of dignitaries from Government of Andhra Pradesh and Central Institute of Road Transport (CIRT). Maruti Suzuki India Limited (MSIL) signed a Memorandum of Understanding (MoU) with Government of Andhra Pradesh, to set up, manage and run Institute of Driving Training and Traffic Research at...

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Petrol price cut by 89 paise a litre, diesel by 49 paise

Petrol price cut by 89 paise a litre, diesel by 49 paise

Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f. midnight of 30th June / 1st July 2016.   Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f. midnight of 30th June / 1st July 2016. Decrease in Retail Selling Price of Petrol by Rs. 0.89/litre at Delhi (including State levies) with corresponding price revision in other States. With this change, the price of Petrol in Delhi will become Rs. 64.76/litre. Decrease...

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Banks may have to take 40-70 % hair cuts in 240 firms: ASSOCHAM-Ind-Ra Study

Banks may have to take 40-70 % hair cuts in 240 firms: ASSOCHAM-Ind-Ra Study

The study to be released at an ASSOCHAM programme in Mumbai tomorrow, suggests asset reconstruction with the help of a revamped Asset Reconstruction (ARCs) sector for achieving a sustainable level of bank debts, going down the non-performing assets (NPAs).   Lenders would need to take hair cuts or cut their losses between 40 and 70 per cent in at least 240 companies which are under heavy debt mostly in steel, construction, power, textiles and infrastructure, an ASSOCHAM-India Ratings...

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Top 8 stocks in focus: Adani Transmission, Strides Shasun, KPIT Tech

Top 8 stocks in focus: Adani Transmission, Strides Shasun, KPIT Tech

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Dewan Housing Finance Corporation Ltd: The company has announced that a meeting of the Board of Directors of the Company will be held on July 05, 2016, to consider fund raising by way of public issue of secured Non-Convertible Debentures (NCDs). Adani Transmission Ltd: The Company has raised Rs. 1,000 Crores (Rupees One Thousand Crores only) on June 30, 2016 by...

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Manappuram Finance plans to raise Rs. 40 crore

Manappuram Finance plans to raise Rs. 40 crore

Manappuram Finance Ltd has announced that Financial Resources and Management Committee of Board of Directors of the Company on June 29, 2016, allotted 400 NCDs having face value of Rs. 10 Lakhs each.   Manappuram Finance Ltd has announced that Financial Resources and Management Committee of Board of Directors of the Company on June 29, 2016, allotted 400 NCDs having face value of Rs. 10 Lakhs each aggregating to Rs. 40 Crore through circular resolution. Manappuram Finance Ltd...

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J&K Bank: Changes in Composition of Board of Directors

J&K Bank: Changes in Composition of Board of Directors

The Board of Directors in their meeting held on June 29, 2016 took on record the aforesaid changes in the Composition of Board of Directors of the Bank.   Jammu & Kashmir Bank Ltd has announced that following Directors such as Dalip Kumar Kaul,Khaver Alam Jeelani, Vikrant Kuthiala have tendered their resignations from the Directorships of the Bank due to personal reasons with effect from June 29, 2016:   The Board of Directors in their meeting held on June 29, 2016...

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Minda Industries Board approves Sub-division of Equity Shares

Minda Industries Board approves Sub-division of Equity Shares

Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2016, has considered and approved the following matter(s), subject to final approval by the shareholders of the Company   Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2016, from 11.30 am and concluded at 7.00 pm, has considered and approved the following matter(s), subject to final approval by the shareholders...

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Future Enterprises plans to raise Rs. 75 crore

Future Enterprises plans to raise Rs. 75 crore

Future Enterprises Ltd has announced that the Committee of Directors of the Company at their meeting held on June 29, 2016, has considered, approved & allotted of 750,10.25% Secured Redeemable Non-Convertible Debentures.   Future Enterprises Ltd has announced that the Committee of Directors of the Company at their meeting held on June 29, 2016, has considered, approved & allotted of 750,10.25% Secured Redeemable Non-Convertible Debentures ("NCDs") of Rs. 10 lakh...

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Coal India signs agreement with Solar Energy Corporation

Coal India signs agreement with Solar Energy Corporation

Coal India Limited (CIL) and Solar Energy Corporation of India Limited(SECI) have signed two Agreements for implementation of 200 MW Solar Power Project in the State of Madhya Pradesh.   Coal India Limited has announced that On June 28, 2016, Coal India Limited (CIL) and Solar Energy Corporation of India Limited(SECI) have signed two Agreements for implementation of 200 MW Solar Power Project in the State of Madhya Pradesh (M.P.) for the beneficial utilisation of solar power by...

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Wall Street ends higher

Wall Street ends higher

The Dow Jones industrial average rose 284.96 points, or 1.64 percent, to 17,694.68, the S&P 500 gained 34.68 points, or 1.7 percent, to 2,070.77.   Wall Street ended higher for a second day. The Dow Jones industrial average rose 284.96 points, or 1.64 percent, to 17,694.68, the S&P 500 X gained 34.68 points, or 1.7 percent, to 2,070.77. The Nasdaq Composite added 87.38 points, or 1.86 percent, to 4,779.25.

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Top 11 stocks in focus: Syndicate Bank, Coal India, Minda Industries

Top 11 stocks in focus: Syndicate Bank, Coal India, Minda Industries

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Minda Industries Ltd: The company has announced that the Board of Directors of the Company at its meeting held on June 28, 2016 has considered and approved Sub-division (stock split) of equity shares of the Company. One Equity Share of the Company, having a face value of Rs. 10 each will be divided into five Equity Shares of face value of Rs. 2 each. Jammu &...

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Rahul Bajaj says no plan to retire

Rahul Bajaj says no plan to retire

Rahul Bajaj says “Last year, they told me that I have done 50 years in Bajaj Auto, I don’t know whether they meant when am I leaving… they tried, but I won’t, till He calls me,” Bajaj told a IMC, `according to reports.   Veteran business leader Rahul Bajaj is in no mood to call it quits.   Rahul Bajaj says “Last year, they told me that I have done 50 years in Bajaj Auto, I don’t know whether they meant when am I leaving…...

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KP Singh to make DLF debt-free

KP Singh to make DLF debt-free

The Singh family plans to sell 40% stake in DLF Cyber City Developers Ltd.(DCCDL) for Rs. 12,000-13,000 crore   Billionaire KP Singh and his family is planning to infuse Rs. 10,000 crore into DLF by purchasing shares in a preferential issue with funds raised from the sale of their stake in the company's rental unit, according to reports. KP Singh is also planning to wipe out DLF' debt. Report says that the Singh family plans to sell 40% stake in DLF Cyber City...

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Wall Street ends higher

Wall Street ends higher

The Dow Jones rose 269.48 points, or 1.57 percent, to 17,409.72, while the S&P 500 gained 35.55 points, or 1.78 percent, to 2,036.09.   Wall Street bounced back on Tuesday after two-day Brexit rout.   The Dow Jones rose 269.48 points, or 1.57 percent, to 17,409.72, while the S&P 500 gained 35.55 points, or 1.78 percent, to 2,036.09.   The Nasdaq Composite added 97.42 points, or 2.12 percent, to 4,691.87.  

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Top 10 stocks in focus:Aditya Birla Nuvo, Dr Reddys Laboratories, SBI

Top 10 stocks in focus:Aditya Birla Nuvo, Dr Reddys Laboratories, SBI

Check out the companies which will be in focus during trade today based on recent and latest news developments Aditya Birla Nuvo: The company has entered into a joint venture with MMI Holdings, a South African financial services group, to enter the Indian health insurance market. As per the agreements, Aditya Birla Nuvo will hold 51% share in the joint venture company named Aditya Birla Health Insurance Co Ltd (ABHICL). Trent Ltd: The board of directors of the company has approved the...

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Top 12 stocks in focus:Adani Enterprises,RCOM,Axis Bank

Top 12 stocks in focus:Adani Enterprises,RCOM,Axis Bank

Check out the companies which will be in focus during trade today based on recent and latest news developments. Tata Teleservices (Maharashtra): The company will raise up to Rs 3,000 crore from its promoter Tata Teleservices through allotment of preferential equities.    Aban Offshore Ltd: The company has announced that a step down subsidiary of the Company has received a Firm Letter of Award from ONGC for the deployment of the Drillship Aban Abraham for a firm period of 2...

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Kwality plans to raise Rs. 300 crore

Kwality plans to raise Rs. 300 crore

Kwality Ltd has announced that the Board of Directors of the Company at its meeting held on June 24, 2016. Kwality Ltd has announced that the Board of Directors of the Company at its meeting held on June 24, 2016, inter alia, has discussed, considered and approved the following matter: To take all actions as may be necessary for availing credit facilities from the lender(s), upto INR 300,00,00,000 (Rupees Three Hundred Crores Only), out of which Rs. 200,00,00,000 (Rupees Two Hundred...

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India’s forex reserves adequate to tackle Brexit impact: RBI

India’s forex reserves adequate to tackle Brexit impact: RBI

“India’s forex reserves of more than USD 360 billion and import cover of more than a year would be adequate in managing the temporary effects of the recent Brexit,” RBI Regional Director, Thiruvananthapuram, S M N Swamy reported.   Reserve Bank reportedly said that the country’s foreign exchange reserves and import cover of more than a year would be sufficient in managing the temporary effects of Brexit   “India’s forex reserves of more...

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India continues to maintain a high growth rate: FM

India continues to maintain a high growth rate: FM

We have been able to sustain growth in the phase of global slowdown essentially on the strength of the infrastructure creation in India where the gap is huge,” Jaitley said.   Finance Minister Arun Jaitley reportedly said that India needs over USD 1.5 trn in investment in the next 10 years to bridge infrastructure gap.   “We have been able to sustain growth in the phase of global slowdown essentially on the strength of the infrastructure creation in India where...

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ARSS Infrastructure Projects bags order worth Rs. 44.04 crore

ARSS Infrastructure Projects bags order worth Rs. 44.04 crore

ARSS Infrastructure Projects Ltd has announced that a work order amounting to Rs. 44.04 Crores namely "Jagdalpur -Koraput Doubling Project- Execution of Earthwork in formation, Minor bridges, Protection works. ARSS Infrastructure Projects Ltd has announced that a work order amounting to Rs. 44.04 Crores namely "Jagdalpur -Koraput Doubling Project- Execution of Earthwork in formation, Minor bridges, Protection works and other allied works from Km. 263.300 to Km.223.500 of Kotpar...

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Tata Sons told to pay $1.17 bn to NTT Docomo

Tata Sons told to pay $1.17 bn to NTT Docomo

Tata Sons is currently examining the implications of the award and determining its further course of action in consultation with its lawyers. Pursuant to Regulation 30 read with Schedule Ill to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to notify you that we have been informed by Tata Sons Limited that the Arbitral Tribunal appointed by the LCIA, London to arbitrate upon the disputes between Tata Sons Limited and...

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Gap-down opening for Sensex, Nifty

Gap-down opening for Sensex, Nifty

Asian market​s​ are trading in red. Nikkei 225 and Hang Seng are down over 3% each. ​Shanghai Composite slipped 0.54% Indian shares are poised to open sharply lower on Friday after reporting a majority vote for leaving the European Union, Asian markets slipped in early trading and the British currency plunged. The FTSE 100 seesawed violently and the pound was more volatile than even during the 2008-2009 financial crisis. Asian market​s​ are trading in red. Nikkei 225 and Hang...

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Sun Pharma to buy back shares worth Rs 675 cr

Sun Pharma to buy back shares worth Rs 675 cr

Sun Pharma on June 23 said it will buy back shares worth Rs 675 crore to return surplus funds to its shareholders Sun Pharma on June 23 said it will buy back shares worth Rs 675 crore to return surplus funds to its shareholders. "The Board of Directors of the company at its meeting held on June 23, 2016 approved the buyback of its fully paid up equity shares. The buyback is being undertaken by the company to return surplus funds to the equity shareholders and thereby, enhancing the...

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Arun Jaitley wants manufacturing sector to grow, offer jobs

Arun Jaitley wants manufacturing sector to grow, offer jobs

Finance Minister Arun Jaitley who is on a five-day visit to China has been meeting bankers and wealth fund managers there to pitch for more investments in India. Only three years ago, India was considered among the weaker links in the BRICS pool of countries, he said, adding that now the country has been able to keep up its reform agenda. Finance Minister Arun Jaitley who is on a five-day visit to China has been meeting bankers and wealth fund managers there to pitch for more investments in...

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Live Brexit or Bremain? Nikkei down 500 pts, 51.5% vote to leave

Live Brexit or Bremain? Nikkei down 500 pts, 51.5% vote to leave

  With results in from the first five of 382 voting districts, those in favour of ending Britain's 43-year membership had a small lead, but it was too early to discern a reliable trend. 8:10 am: Nikkei down 500 points 8:00 am: 171 out of 382 areas vote 51.3 percent to leave & 48.7 percent to stay in EU 7:55 am: Pound slips almost 6 percent against dollar    7:45 am: 161 out of 382 areas vote 51.5 percent to leave & 48.5 percent to stay in EU 7:38...

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Rs 1lakh crore defence purchases on Manohar Parrikar’s mind

Rs 1lakh crore defence purchases on Manohar Parrikar’s mind

NEW DELHI: In a marathon meeting on new acquisitions, defence minister Manohar Parrikar is set to discuss projects worth over Rs 1 lakh crore, including critical purchases like armed unmanned aerial vehicles (UAVs), an advanced air defence system, carbines for the Army and a range of vessels for the Navy.  A meeting of the high-powered Defence Acquisition Council (DAC) is scheduled for Saturday after a gap of several weeks and sources have told ET that the fate of several projects tht...

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Top 13 stocks in focus:IDBI Bank, Yes Bank, Tata Power

Top 13 stocks in focus:IDBI Bank, Yes Bank, Tata Power

Check out the companies which will be in focus during trade today based on recent and latest news developments. Tata Power: Tata Power Renewable Energy has bagged 30 mw solar grid connected photovoltaic project in Maharashtra. Bajaj Finance Limited: tHE COMPANY announced its unique partnership with Future Group, India’s leading retail group to enable and empower customers to convert all their purchases from any of the Future Group brands into easy EMIs, thus ushering in a digital...

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Asian Paints revises plans for manufacturing plant in AP

Asian Paints revises plans for manufacturing plant in AP

The approximate amount that would be invested by the Company in phases over a period of 12 years from the date of commencement of construction, including the cost of land, would be Rs. 1785 crores.   With reference to the earlier letter dated March 10, 2015 wherein the Company had informed about its proposal of setting up a paints manufacturing plant in Vishakhapatnam District, Andhra Pradesh. Asian Paints Ltd has announced that the Company has re-looked at its product portfolio...

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Nikesh Arora resigns from SoftBank

Nikesh Arora resigns from SoftBank

Arora will step down as representative director, president and chief operating officer of SoftBank and will assume an advisory role effective 1 July, says report. Nikesh Arora has resigned from SoftBank Group Corp.   Report says that founder, chairman and CEO Masayoshi Son, who had been expected to step down after turning 60 next year, said he will remain at the helm.   Arora will step down as representative director, president and chief operating officer of SoftBank...

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IDBI Bank seeks shareholder nod to raise funds

IDBI Bank seeks shareholder nod to raise funds

The bank will explore all routes including qualified institutional placement (QIP), preference share issue, rights issue or follow-on public issue to raise the funds.   IDBI Bank is seeking shareholders approval to raise Rs.8,000 crore. The bank will explore routes including qualified institutional placement (QIP), preference share issue, rights issue or follow-on public issue to raise the funds. The bank is also seeking approval to raise up to Rs.20,000 crore of capital...

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CCI approves Future Consumer-Grasim deal

CCI approves Future Consumer-Grasim deal

Future Consumer Enterprise has received Competition Commission of India nod to acquire consumer products business of Grasim Industries,according to reports.   Future Consumer Enterprise has received Competition Commission of India nod to acquire consumer products business of Grasim Industries,according to reports. In May last year, Grasim had signed a Business Transfer Agreement with Future Consumer Enterprise. Grasim Industries Ltd ended at Rs. 4307.85, down by Rs. 1.35 or...

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Top 16 stocks in focus today: Cipla, Indian Oil Corporation, SpiceJet

Top 16 stocks in focus today: Cipla, Indian Oil Corporation, SpiceJet

Check out the companies which will be in focus during trade today based on recent and latest news developments Cipla: Cipla has signed a Memorandum of Understanding with Russia's National Immunobiological Company to collaborate on HIV and Hepatitis C drugs, entailing an investment of 2.8 billion roubles (around Rs.289 crore). Indian Oil Corporation: An Indian consortium, led by Indian Oil Corporation (IOC) along with Oil India (OIL) and Bharat Petro Resources (BPRL), a 100%...

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RBI will survive any Governor, says outgoing Rajan

RBI will survive any Governor, says outgoing Rajan

Rajan has been often hailed as the ‘rockstar central banker’ ever since becoming RBI Governor in September 2013   Reserve Bank will survive any Governor and it is important not to “personalise this office”, the outgoing Raghuram Rajan reportedly said.   Report says Rajan has been often hailed as the ‘rockstar central banker’ ever since becoming RBI Governor in September 2013. Rajan has also been often praised for containing inflation...

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UCO Bank plans to raise Rs.4,243 Crore

UCO Bank plans to raise Rs.4,243 Crore

The Board has also approved the proposal for raising Tier II Capital to the tune of Rs. 1500 Crore through issue of Tier II Bonds during the year financial years 2016-17 and 2017-18 depending upon the market conditions.   UCO Bank has announced that the Board of Directors of the Bank at its meeting held on June 18, 2016, has approved the proposal for raising of Tier I Capital to the tune of Rs.4,243 Crore through issue of AT-1 Bonds, issue of equity shares through FPO/Preferential...

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IFC plans to invest up to $75 mn in Glenmark Pharma

IFC plans to invest up to $75 mn in Glenmark Pharma

IFC plans to invest up to $75 mn in Glenmark Pharma   International Finance Corp reportedly said that it is planning to invest up to $75 million, or about Rs.500 crore, in Glenmark Pharmaceuticals Ltd. Report says that the company is planning to raise funds by selling quasi-equity instruments.  The company plans to use the money to expand manufacturing capacity, mostly in India, says report. Glenmark Pharmaceuticals Ltd ended at Rs. 771.4, down by Rs. 10.1 or 1.29% from...

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GMR in talks to sell stake in Hyderabad airport

GMR in talks to sell stake in Hyderabad airport

The equity valuation of the Hyderabad airport is expected to be Rs. 5,000-5,500 crore, says report. GMR is in talks with PE groups KKR and Apollo Global Management along with Abu Dhabi's sovereign wealth fund ADIA and Canadian pension giant PSP Investments to sell controlling stake in  Hyderabad airport, according to reports. Report says that the company is planning to monetise the airport. The equity valuation of the Hyderabad airport is expected to be Rs. 5,000-5,500 crore,...

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Top 14 stocks in focus:Godrej Consumer Products,Wipro, Tech Mahindra

Top 14 stocks in focus:Godrej Consumer Products,Wipro, Tech Mahindra

Check out the companies which will be in focus during trade today based on recent and latest news developments.   Godrej Consumer Products Ltd: The company is scouting for acquisitions in Indonesia and has shared ‘a wish list of assets’ with various investment bankers as part of its inorganic growth strategy in the South East Asian nation, says report. Wipro: The company is seeking the government’s nod to set up an IT special economic zone (SEZ) in...

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Tata Sponge Iron bids for Grade G 4 coa

Tata Sponge Iron bids for Grade G 4 coa

This tonnage constitutes less than 10 percent of the Company's annual coal requirement. Tata Sponge Iron Ltd has announced that the Company successfully bid for 24000 tonnes per annum of Grade G 4 coal from Coal India Limited, in a recently held auction of coal linkages for the sponge iron industry. This tonnage constitutes less than 10 percent of the Company's annual coal requirement.   Tata Sponge Iron Ltd ended at Rs. 664.75, up by Rs. 68.85 or 11.55% from its previous...

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Petrol price marginally hiked by 5p/l and other economy news

Petrol price marginally hiked by 5p/l and other economy news

Petrol price was marginally hiked by 5p/l and diesel by Rs1.26/l, the fourth increase in rates in six weeks. (BS) Reserve Bank's new debt recast norms are credit positive for banks and will help in reducing the gross non-performing asset levels by 30-100 basis points after one year. (ET) The Ministry for New & Renewable Energy, launched a scheme for setting up 1,000MW of wind power projects connected to the transmission network of Central Transmission Utility to provide wind power...

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Dewan Housing Finance plans to raise Rs.400 crore via NCDs

Dewan Housing Finance plans to raise Rs.400 crore via NCDs

Dewan Housing Finance Corporation Ltd proposes to issue Secured Redeemable Non Convertible Debentures amounting to Rs. 400.00 Crore and a Greenshoe option upto Rs. 175.00 Crore on Private Placement basis.   Dewan Housing Finance Corporation Ltd proposes to issue Secured Redeemable Non Convertible Debentures amounting to Rs. 400.00 Crore and a Greenshoe option upto Rs. 175.00 Crore on Private Placement basis, pursuant to special resolution passed by the shareholders of the Company at...

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Infosys adds Rs. 1 lakh crore to market-cap in 2 years

Infosys adds Rs. 1 lakh crore to market-cap in 2 years

The market capitalisation of Infosys, touched a record high of Rs 2.9 lakh crore, says report.   Infosys has added almost Rs. 1 lakh crore in market value in the last two years, says report. Report says that the market capitalisation of Infosys, touched a record high of Rs 2.9 lakh crore. Vishal Sikka was appointed chief executive on June 2014. Infosys Ltd ended at Rs. 1175.2, down by Rs. 7.35 or 0.62% from its previous closing of Rs. 1182.55 on the BSE.   The...

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Bharti Infratel announces buyback of 4.70 crore equity shares

Bharti Infratel announces buyback of 4.70 crore equity shares

The buyback shall be undertaken on a proportionate basis from the shareholders as of June 16, 2016.   Bharti Infratel announced buyback of 4.70 crore equity shares of Rs 10 at a price of Rs 425 per share.  The buyback shall be undertaken on a proportionate basis from the shareholders as of June 16, 2016. Report says that aggregate paid-up equity capital and free reserves of the company as on March 31, 2016 was Rs 10,348 crores. Bharti Infratel Ltd ended at Rs. 380.35,...

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Maruti Suzuki resumes production at Manesar unit and other corporate news

Maruti Suzuki resumes production at Manesar unit and other corporate news

Amara Raja Batteries has drawn up plans to increase its batteries’ manufacturing capacity for supply to two and four wheelers, both original equipment manufacturers and after-market. (BL) Maruti Suzuki resumed production at its Manesar unit and is working at more than 90% capacity to make up for the loss. (BL) Kerala government has promised all support to Kochi Port in resolving the pipeline issues of the Petronet LNG Terminal. (BL) Coal India auctioned 1.04mtpa of linkages to...

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May WPI rises to 0.79% and other economy news

May WPI rises to 0.79% and other economy news

The Wholesale Price Index (WPI) rose 0.79% in May, after rising 0.34% in April 2016 and coming in at -2.20% during the corresponding month of the previous year. (BS) Concerned over ‘wilful violation’ of its drug pricing control rules, the National Pharmaceutical Pricing Authority (NPPA) has slapped show-cause notices on ten top drugmakers for failing to register their products on its online database and submit the mandatory disclosures. (BL) India recorded a 10-year low in...

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ICRA releases report on RBI’s guidelines on Scheme for Sustainable Structuring of Stressed Assets

ICRA releases report on RBI’s guidelines on Scheme for Sustainable Structuring of Stressed Assets

No immediate relief however reported Gross NPA % could come down after a period of 1 year as satisfactory performance of sustainable debt portion is established.   ICRA released report on RBI’s recent guidelines (issued on 13th June 2016) on “Scheme for Sustainable Structuring of Stressed Assets”.  Key Points: Implementation of the guidelines would help to bridge the gap between the actual expected losses and provisioning cover, therefore it would be a...

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ChrysCapital, GIC may acquire SBI’s 5% stake in NSE

ChrysCapital, GIC may acquire SBI’s 5% stake in NSE

ChrysCapital and GIC are seeking to buy SBI’s stake at a price of around Rs.4,000-4,050 per share, says report.   ChrysCapital Investment Advisors India Pvt. Ltd and Singapore’s sovereign wealth fund GIC Pte. Ltd  is planning to acquire 5% stake in National Stock Exchange of India Ltd (NSE), according to reports. Report says that ChrysCapital and GIC are seeking to buy SBI’s stake at a price of around Rs.4,000-4,050 per share. The stake was put on the...

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Maruti plans to begin production with 90% capacity utilization

Maruti plans to begin production with 90% capacity utilization

The company’s manufacturing facilities will open after nearly two weeks of near-minimal production Maruti Suzuki India Ltd is planning to begin production at its two factories in Haryana from Monday, according to reports. Report says that the company’s manufacturing facilities will open after nearly two weeks of near-minimal production. “We are starting with 90% capacity utilization on day 1. There would be some niggles in the beginning as the plant is being re-opened...

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RCOM and Aircel may complete merger by July

RCOM and Aircel may complete merger by July

The deadline for exclusive negotiations between both sides was extended for a month till June 22nd.   Anil Ambani led Reliance Communications and Aircel are in talks to finalise much anticipated merger by this early next month, according to reports. Report says that the deadline for exclusive negotiations between both sides was extended for a month till June 22nd. As per the terms, RCom will hive off its wireless business into a separate arm - special purpose vehicle - in the...

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ET NOW inaugurates Dealing Room Heroes

ET NOW inaugurates Dealing Room Heroes

The heroes who are usually deep inside their terminals analyzing the markets trends to make the best calls for their organizations and/or clients, are then felicitated jointly by their management and ET NOW anchors. ET NOW, India’s #1 Business News channel from the TIMES NETWORK, has inaugurated another unique industry welfare initiative titled Dealing Room Heroes. Aimed at encouraging the top performers across the country’s leading Brokerage Houses, the initiative commences with...

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Sensex, Nifty to begin week on a weak note

Sensex, Nifty to begin week on a weak note

Asian markets are trading lower ahead of central bank meetings in the US and Japan this week and amid jitters over the upcoming referendum on whether the UK will remain in the European Union. Nikkei 225 and Hang Seng slipped 2.5% each. The indices are set to open on a weak note. Asian markets are trading lower ahead of central bank meetings in the US and Japan this week and amid jitters over the upcoming referendum on whether the UK will remain in the European Union. Nikkei 225 and Hang Seng...

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Economy in right direction: Raghuram Rajan

Economy in right direction: Raghuram Rajan

“I would hope that with good monsoon, strong rural demand, with more animal spirit and public investment picking up pace…I think with all that coming together there will be need for private investment.", Rajan was quoted as saying. RBI Governor Raghuram Rajan reportedly said the economy is on the right track though “true numbers” of GDP could be 1% up or down. “I would hope that with good monsoon, strong rural demand, with more animal spirit and public...

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Copper Futures Slid More than 2%

Copper Futures Slid More than 2%

Copper futures slid lower on Tuesday, with both MCX and COMEX copper futures slipping from four-week highs, even as the US dollar continued to show weakness in the aftermath of last Friday's jobs report. The health of the labor market one of the key economic conditions that the Fed will base its rate hike decisions on, the bad jobs report thwarted expectations for a June rate hike. This pressured the US currency, and sparked a big rally in dollar-denominated. The main union at South32...

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Sensex ends above 27000 post RBI policy

Sensex ends above 27000 post RBI policy

Finally, the BSE Sensex ended with a gain of 232 points at 27,010. The BSE Sensex opened at 26,834 touched an intra-day high of 27,083 and low of 26,829.53. The NSE Nifty closed with a gain of 65 points at 8,266. The NSE Nifty opened at 8,236 hitting a high of 8,295 and low of 8,216. Stock market in India rallied on Tuesday after the Reserve Bank of India kept an accommodating stance in its second bi-monthly policy review for the current fiscal. RBI Governor Raghuram Rajan kept...

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RBI sticks to its guns! Keeps policy rates on hold, maintains accommodative stance

RBI sticks to its guns! Keeps policy rates on hold, maintains accommodative stance

Reserve Bank of India’s Governor, Raghuram Rajan, in what “speculatively” could be his last monetary policy, upped the guard and adopted status quo stance on policy action, along expected lines. Reserve Bank of India’s Governor, Raghuram Rajan, in what “speculatively” could be his last monetary policy, upped the guard and adopted status quo stance on policy action, along expected lines. The policy repo rate under the liquidity adjustment facility (LAF)...

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Amtek Auto posts Rs 529-crore loss in January-March qtarter

Amtek Auto posts Rs 529-crore loss in January-March qtarter

MUMBAI: Debt laden Amtek Auto BSE 7.59 % on Tuesday reported a loss of Rs 529 crore for the January-March quarter, but its chief executive sounded confident about the future with the group's long overdue restructuring finally getting underway.  Amtek has shortlisted two bidders for Tekfor, its German subsidiary , John Flintham told ET in an interview. The company is also in talks with a financial investor to offload a    significant stake in Amtek Auto, he added, but...

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Top 12 stocks in focus: RIL, Glenmark Pharma, Axis Bank

Top 12 stocks in focus: RIL, Glenmark Pharma, Axis Bank

Check out the companies which will be in focus during trade today based on recent and latest news developments. Glenmark Pharmaceuticals Ltd: Glenmark Pharmaceuticals announced that the Issuance Committee of the Company at its meeting held on May 31, 2016, has approved raising of up to USD 200 million through issuance of FCCBs to be listed on the Singapore Stock Exchange (Issue) and has decided to open/launch the Issue on May 31, 2016.  Axis Bank: Axis Bank receives...

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Maruti Suzuki says to resume production at Gurgaon plant

Maruti Suzuki says to resume production at Gurgaon plant

Maruti Suzuki had to suspend operations at its facilities in the latter half of 29 May after a fire at the Manesar facilities of Subros Ltd. Maruti Suzuki India Ltd reportedly said that it will resume production at its factories from 1 June. Maruti Suzuki had to suspend operations at its facilities in the latter half of 29 May after a fire at the Manesar facilities of Subros Ltd. The company said it will resume production at the Gurgaon plant from the second half of...

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Petrol price hiked by Rs. 2.58 per litre, diesel by Rs. 2.26 per litre

Petrol price hiked by Rs. 2.58 per litre, diesel by Rs. 2.26 per litre

Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f. midnight of 31st May / 1st June 2016. Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f. midnight of 31st May / 1st June 2016. Increase in Retail Selling Price of Petrol by Rs. 2.58/litre at Delhi (including State levies) with corresponding price revision in other States. With this change, the price of Petrol in Delhi will become Rs. 65.60/litre. •Increase in...

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GMR Infra Q4 net loss widens to Rs 953.50 cr

GMR Infra Q4 net loss widens to Rs 953.50 cr

NEW DELHI: GMR Infrastructure BSE -2.09 %, a diversified group with interest in energy and airport sectors, saw its net loss on consolidated basis widen to Rs 953.5 crore on higher expenses during the fourth quarter ended March 31, 2015-16.  The company had clocked net loss after tax, minority interest and share of loss of associates at Rs 891.90 crore in the corresponding quarter of the 2014-15 fiscal.    Its total income from operations rose 28.27 per cent to Rs...

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ITDC Q4 net profit declines by 18% at Rs 18.07 crore

ITDC Q4 net profit declines by 18% at Rs 18.07 crore

MUMBAI: India Tourism Development Corporation BSE -4.32 % ( ITDC ) today reported an 18 per cent decline in standalone net profit at Rs 18.07 crore for the March quarter.  Its net profit stood at Rs 22.06 crore for the corresponding quarter of the preceding fiscal, ITDC said in a release said here.  ITDC's total income from operations dropped 7.5 per cent to Rs 133.13 cr from Rs 143.98 crore in the same quarter last fiscal.  The Corporation recorded a Profit...

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Blue Star reported standalone net profit of Rs 71.72 crore for Q4

Blue Star reported standalone net profit of Rs 71.72 crore for Q4

NEW DELHI: Airconditioner maker Blue Star has reported a standalone net profit of Rs 71.72 crore for the fourth quarter ended March 31.  The company had registered a net profit of Rs 106.17 crore in January-March period a year ago, Blue Star said in a BSE filing.  Net sales during the quarter was at Rs 1,090.03 crore. It was Rs 990.04 crore in    the same quarter of the preceding fiscal.  Meanwhile, in a separate filing, the company said pursuant to...

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MTNL posts net profit of Rs 174.58 crore for January-March

MTNL posts net profit of Rs 174.58 crore for January-March

NEW DELHI: State-run MTNL BSE 11.70 % today posted a net profit of Rs 174.58 crore for the January-March quarter on account of refunds for surrendering CDMA spectrum .  The company had a loss of Rs 595.11 crore in the same period a year ago.  "...on surrender of CDMA spectrum, the compensation of Rs 458.04 crore has been    The consolidated net loss of MTNL too narrowed to Rs 2012.24 crore for year ended March 31, 2016 from Rs 2901.16 crore at the end of March...

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NTPC Q4 Net dips 7.73% to Rs 2,716.41-crore on low sales

NTPC Q4 Net dips 7.73% to Rs 2,716.41-crore on low sales

NEW DELHI: State-run power giant NTPC today reported 7.73 per cent drop in its standalone net profit at Rs 2,716.41 crore in the March quarter due to low demand from discoms resulting in sales dip.  The company's standalone net profit in the March quarter last year was Rs 2,944.03 crore, NTPC Ltd BSE 2.29 % said in a BSE filing today.    Total standalone income of the company has dipped from Rs 19,879.38 crore in th fourth quarter of 2014-15 to Rs 18,560.70 crore...

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Rajesh Exports Q4 net profit up 20.17 per cent at Rs 247 crore

Rajesh Exports Q4 net profit up 20.17 per cent at Rs 247 crore

NEW DELHI: Jewellery firm Rajesh Exports Ltd BSE 0.76 % (REL) today reported 20.17 per cent jump in consolidated net profit at Rs 247.04 crore in fourth quarter ended March, buoyed by robust sales.  The company had posted a net profit of Rs 205.56 crore in year-ago period, it said in a BSE filing.  Net sales increased to Rs 55,928.3 crore in the January-March quarter of 2015-16 from Rs 19,165.9 crore in the same quarter previous year.  For the full 2015-16 fiscal ,...

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Berger Paints Q4 net up 60 per cent at Rs 92.77 crore

Berger Paints Q4 net up 60 per cent at Rs 92.77 crore

NEW DELHI: Berger Paints BSE 2.35 % today reported a 59.72 per cent rise in its consolidated net profit at Rs 92.77 crore for the fourth quarter ended March.  The company had posted a consolidated net profit of Rs 58.08 crore during the January-March quarter of 2014-15.    The company's net sales during the quarter under review stood at Rs 1,126.45 crore, an increase of 8.50 per cent as compared to Rs 1,038.13 crore in the year-ago period, Berger Paints said in a BSE...

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Reliance Communications Q4 net profit falls 22%

Reliance Communications Q4 net profit falls 22%

NEW DELHI: Reliance Communications BSE 0.00 % ( Rcom ) today reported a 22.36 per cent drop in consolidated net profit to Rs 177 crore for the quarter ended March 31 on account of rise in expenses.  The company had reported a net profit of Rs 228 crore in the corresponding period last fiscal.  The total expenses increased to Rs 5,219    crore in the reported quarter as compared to Rs 4,722 crore in the same period of last year, the company said in a filing to the...

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Mcleod Russel Q4 net loss widens to Rs 235.67 crore

Mcleod Russel Q4 net loss widens to Rs 235.67 crore

NEW DELHI: Leading tea grower firm McLeod Russel BSE 0.54 % today reported widening of its standalone net loss at Rs 235.67 crore in the fourth quarter of the 2015-16 fiscal on higher expenses and financial cost.  The Kolkata-based company had posted a net loss of Rs 207.95 crore in the same quarter previous year, it said in a BSE filing.    While net sales grew slightly to Rs 317.32 crore in the January-March quarter of the 2015-16 fiscal from Rs 311.27 crore in the...

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BGR Energy posts 48% jump in net at 28 crore

BGR Energy posts 48% jump in net at 28 crore

NEW DELHI: BGR Energy Systems BSE -1.46 % has posted a 48 per cent increase in its net profit at Rs 27.96 crore in the March quarter compared to year-ago period.  The company had posted a net profit of 18.82 crore in the March quarter last fiscal, the company stated in a BSE filing today.  However, as per the statement, the total income of the company from operations came down to Rs 845.56 crore in March quarter this year compared to Rs 1047.63 crore a year ago.  The...

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Hitachi Home and Life Solutions Q4 net down 44% at Rs 13.36 crore

Hitachi Home and Life Solutions Q4 net down 44% at Rs 13.36 crore

NEW DELHI: Airconditioner firm Hitachi Home and Life Solutions BSE 3.29 % today reported a 44.44 per cent decline in standalone net profit at Rs 13.36 crore for the fourth quarter ended March 31, 2016.  The company had registered a net profit of Rs 24.05 crore in January-March period a year-ago, Bajaj Electricals BSE -6.99 % said in a BSE filing.    Its total income from operation was down 15.86 per cent to Rs 416.03 crore as against Rs 494.49 crore in the same quarter...

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Andhra Bank net declines 15% at Rs 558 crore in 2015-16

Andhra Bank net declines 15% at Rs 558 crore in 2015-16

NEW DELHI: Public sector Andhra Bank BSE 0.93 % today reported a consolidated net profit of Rs 557.99 crore for the fiscal ended March 2016, down 15 per cent from a year ago on higher provisioning for bad loans.  The bank's net profit was Rs 655.78 crore for the year ended March 2015.  "Total income has increased to Rs 19,910.91 crore from Rs 18,787.93 crore for the year ended March 31, 2015", it said in a regulatory filing.  The bank did not report figures...

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Solar cell maker Indosolar Ltd reports loss of Rs 29.77 crore for march

Solar cell maker Indosolar Ltd reports loss of Rs 29.77 crore for march

NEW DELHI: Solar cell maker Indosolar Ltd BSE -2.12 % has reported a loss of Rs 29.77 crore for the March quarter.  The company had posted a net profit of Rs 80.91 lakh in the quarter ended on March 31, 2015.  "The solar industry has witnessed turmoil owing to significant downturn in global market due to structural over supply situation," the    company said in a BSE filing today.  However, the company said the domestic market has been showing an...

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Sensex, Nifty up for 5th day...Nifty ends above 8,150

Sensex, Nifty up for 5th day...Nifty ends above 8,150

Finally, the BSE Sensex ended with a gain of 72 points at 26,726. The BSE Sensex opened at 26,695 touched an intra-day high of 26,795 and low of 26,623. The NSE Nifty closed with a gain of 22 points at 8,179. The NSE Nifty opened at 8,166 hitting a high of 8,200 and low of 8,151. The Indian equity market closed in the green extending its winning streak to fifth consecutive trading session. After opening with a positive bias, indices were stuck in a narrow trading range. The benchmarks lost...

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Rolta India cons PAT grows 26.3% QoQ

Rolta India cons PAT grows 26.3% QoQ

Close to a decade ago we embarked on an ambitious journey to transform Ro/ta from a predominantly GIS and Engineering services company to an IP-led IT organization, K. K.Singh said.Rolta India limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defense and Security, today announced audited financial results for the quarter and year ended March 31, 2016. FINANCIAL HIGHLIGHTS Consolidated Revenue for twelve months FY-16 at Rs.3,799.59...

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Tide Water Oil Q4 net profit at Rs.5.2 crore

Tide Water Oil Q4 net profit at Rs.5.2 crore

The total income was at Rs. 259.6 crore as against Rs. 246.2 crore (YoY). Tide Water Oil Q4 net profit stood at Rs.5.2 crore The total income was at Rs. 259.6  Crore as against Rs. 246.2 crore (YoY).   Tide Water Oil Co (I) Ltd ended at Rs. 6014.9, up by Rs. 274.4 or 4.78% from its previous closing of Rs. 5740.5 on the BSE. The scrip opened at Rs. 5792.35 and touched a high and low of Rs. 6169.95 and Rs. 5772 respectively. A total of 15682(NSE+BSE) shares were traded on...

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CIL Q4 net profit up marginally to Rs 4,248 crore

CIL Q4 net profit up marginally to Rs 4,248 crore

NEW DELHI: State-owned Coal India Ltd BSE 0.12 % has reported a marginal rise in consolidated net profit at Rs 4,247.93 crore for the fourth quarter ended March 31, 2015-16.  It had posted net profit of Rs 4,238.55 crore in the corresponding quarter of financial year 2014-15, CIL BSE 0.12 % said in a BSE filing.    The company's total income increased to Rs 21,402.75 crore in the fourth quarter of the last fiscal ended March 31, from Rs 21,339.55 crore in the year-ago...

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Nalco Q4 net profit down 41 per cent to Rs 208 cr, income also falls by 7.6 per cent

Nalco Q4 net profit down 41 per cent to Rs 208 cr, income also falls by 7.6 per cent

NEW DELHI: State-run National Aluminium Co Ltd ( Nalco ) today reported 41.4 per cent decline in standalone net profit to Rs 207.94 crore during the fourth quarter ended March 31, 2015-16.  The Bhubaneswar based firm had posted net profit of Rs 354.87 crore in the year-ago period.  Nalco said in a BSE filing that its total income was up 4 per cent to Rs 1,874.36 crore in the January-March quarter of last fiscal, as against Rs 1,801.25 crore in the same period of 2014-15....

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Thomas Cook March-quarter net loss at Rs 71 crore

Thomas Cook March-quarter net loss at Rs 71 crore

NEW DELHI: Travel firm Thomas Cook BSE 1.33 % ( India ) today reported a consolidated net loss of Rs 70.78 crore for the quarter ended March 31, 2016.  It had posted a net profit of Rs 2.25 crore for the corresponding period of the previous fiscal, the company said in a filing to BSE.  Consolidated total income stood at Rs 1,298.75 crore for the quarter under    consideration as against Rs 864.86 crore in the year-ago period.  The consolidated profit before...

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Ashiana Housing net profit up at over Rs 129 crore in FY16

Ashiana Housing net profit up at over Rs 129 crore in FY16

NEW DELHI: Ashiana Housing BSE 0.00 % today reported over two-fold jump in consolidated net profit to Rs 129.39 crore for the last fiscal on higher sales.  It had posted a net profit of Rs 46.49 crore in the 2014-15 fiscal, Ashiana Housing said in a regulatory filing.  Sales and other income also jumped over three-fold to Rs 536.05 crore in the 2015-16 fiscal from Rs 164.44 crore in the previous year.  "Area constructed increased to 23.4 lakh sq ft (FY16) vs 22.8...

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Foreign investors welcome, but no place for tainted money: Sebi

Foreign investors welcome, but no place for tainted money: Sebi

MUMBAI: Allaying concerns about any further misuse of Participatory Notes, market watchdog Sebi's Chairman U K Sinha has said Indians can no longer use these offshore instruments, even indirectly, and a strong safety net has been put in place to check any routing of black money.  He also said that foreign investors have been taken "completely on board" for changes in the regulations governing Offshore Derivative Instruments (ODIs) -- commonly known as P-Notes -- and they...

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Yellen: Rate rise probably appropriate in coming months

Yellen: Rate rise probably appropriate in coming months

Federal Reserve Chair Janet Yellen said that given the pace of US economic growth, a Fed decision to increase interest rates could be on the cards soon Federal Reserve Chair Janet Yellen said that given the pace of US economic growth, a Fed decision to increase interest rates could be on the cards soon. Speaking at Harvard University, Yellen said she believed growth and the strengthening of the labor market would continue, and in that case, "probably in the coming months such a move...

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Hathway Cable Q4 net narrows to Rs 46 crore

Hathway Cable Q4 net narrows to Rs 46 crore

NEW DELHI: Hathway Cable and Datacom BSE -0.59 % today reported a standalone net loss of Rs 45.9 crore for the fourth quarter ended March.  The company had posted net loss of Rs 76.9 crore in the corresponding quarter of the previous fiscal.  Its net sales during the quarter under review were up 23.3 per cent at Rs 331.9 crore as  .. against Rs 269.1 crore in the year-ago period, Hathway said in a BSE filing.  For the entire 2015-16, the company has reported...

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Sagar Cements Q4 net declines 30% to Rs 15 crore

Sagar Cements Q4 net declines 30% to Rs 15 crore

NEW DELHI: The Hyderabad-based Sagar Cements today announced a 29.8 per cent decline in standalone net profit at Rs 15.2 crore for the quarter ended March 2016 following lower income from operations.  The company had posted a net profit of Rs 21.7 crore in the corresponding quarter of 2014-15, Sagar Cements said in a regulatory filing.    The total income from operations dropped to Rs 153.4 crore, from Rs 181.3 crore in the year-ago period.  The expenses of the...

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PVR Q4 net loss at Rs 10.25 crore

PVR Q4 net loss at Rs 10.25 crore

NEW DELHI: Multiplex operator PVR Ltd BSE -0.71 % today reported narrowing of its consolidated net loss to Rs 10.25 crore for the fourth quarter ended March 31, on account of successful performance of some films.  It had posted a net loss of Rs 35.65 crore in the January -March quarter of the previous financial year 2014-15, the company said in a BSE filing.    Net sales of the company were up 38.18 per cent to Rs 410.45 crore during the quarter under review, as against Rs...

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Reliance Power net profit up 16 percent in Q4

Reliance Power net profit up 16 percent in Q4

NEW DELHI: Anil Ambani-led Reliance Power BSE 7.51 % said on Friday it posted 15.80 percent increase in its consolidated net profit in 2015-16's fourth quarter ending March 31, at Rs.320.16 crore compared to Rs.276.47 crore in the corresponding period in 2014-15.  In a stock market filing, the company said that the net profit increased on account of higher power generation in 2015-16.    Its consolidated total income has increased from Rs.1,680.77 crore for the quarter...

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Indian Overseas Bank carries on the trend, shows Rs 936 crore loss for Q4

Indian Overseas Bank carries on the trend, shows Rs 936 crore loss for Q4

MUMBAI: Chennai-based public sector lender, Indian Overseas Bank BSE -1.25 % showed a fourth quarter loss of Rs 936 crore against a loss of Rs 35 crore a year ago, and has declared no year end dividend. In the context of all public sector banks showing massive rise in bad loans in this year because of the RBI's asset quality review, Indian Overseas Bank has performed better than the last quarter.    In the third quarter of FY16 the bank had shown a loss of Rs 1,425...

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DLF Q4 net drops 23% to Rs 132 crore

DLF Q4 net drops 23% to Rs 132 crore

NEW DELHI: India's largest real estate firm DLF has reported a 23% drop in its consolidated net profit at Rs 132 crore for the quarter ended March 2016, compared to a net profit of Rs 172 crore, in the same quarter last year. The company's consolidated revenues increased by 19% to Rs 2,496 crore for the January-March 2016 quarter from Rs 2,101 crore a year ago, but were down 16% from Rs 2,981 crore in the quarter ended December 2015.  DLF's EBIDTA stood at Rs 1,035 crore in...

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MMTC Q4 net drops 39% to Rs 23 crore

MMTC Q4 net drops 39% to Rs 23 crore

NEW DELHI: State-run trading firm MMTC on Friday reported a 39.17% drop in net profit at Rs 23.1crore for the March quarter on sharp decline in total income. The company had reported a net profit of Rs 37.98 crore in the year-ago period.  MMTC's total income from operations plus other income decreased significantly to Rs 1,994.5 crore during the January-March quarter from Rs 5,070.48 crore in the corresponding period of the preceding fiscal. However, during the quarter under review,...

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Hindalco Inds Q4 PAT more than doubles to Rs 356 crore, sales down 7% on lower realisations

Hindalco Inds Q4 PAT more than doubles to Rs 356 crore, sales down 7% on lower realisations

NEW DELHI: Aluminium maker Hindalco Industries on Saturday reported a standalone net profit of Rs 356.33 crore for the quarter ended March 31.  This was 123.36 per cent higher than a net profit of Rs 159.53 crore the company reported in the corresponding quarter of last year.  The company said its net sales declined 7.33 per cent YoY to Rs 8,542.66 crore in the March quarter from Rs 9,219.25 crore in the    same quarter of last year, due to sharp fall in aluminium...

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Tata Communications Q4 net loss widens to Rs 205 crore

Tata Communications Q4 net loss widens to Rs 205 crore

NEW DELHI: Tata Communications BSE 0.22 % today reported widening of its consolidated net loss to Rs 205 crore for the fourth quarter ended March, mainly on account of impairment of equity in its sister concern Tata Teleservices BSE 0.62 %.  The company had registered a net loss of Rs 178.3 crore in the same period a year ago.  "During the quarter and year ended March 2016 , the company provided Rs 25,152 lakh as diminution in value, other than temporary, in its...

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IFCI logs Rs 101 crore Q4 net loss as provisions weigh

IFCI logs Rs 101 crore Q4 net loss as provisions weigh

NEW DELHI: Infrastructure term lender IFCI BSE 3.39 % today reported a net loss of Rs 101 crore for the fourth quarter ended March 2016 due to higher provisions.  The company had reported a net profit of Rs 120 crore in January-March of 2014-15.  The gross non-performing assets (NPAs) and net NPAs as of March 31 have increased to 13.05 per cent and 9.54 per cent, respectively, the company said at a of March 31 have increased to 13.05 per cent and 9.54 per cent,...

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BHEL reports standalone net profit of Rs.359.58 crore in Q4FY16 vs net loss of Rs. 1,101.99 crore in Q4FY15: Estimates Mixed

BHEL reports standalone net profit of Rs.359.58 crore in Q4FY16 vs net loss of Rs. 1,101.99 crore in Q4FY15: Estimates Mixed

The company’s standalone revenue stood at Rs. 10,004.77 crore, down 21.5% yoy but up 87.86% qoq. Bharat Heavy Electricals (BHEL), state-owned power plant equipment manufacturer, reported standalone net profit of Rs.359.58 crore for the quarter ended March 31, 2016, registering growth of 59.52% yoy. However, the company had reported net loss of Rs. 1,101.99 crore in the preceding quarter. The company’s standalone revenue stood at Rs. 10,004.77 crore, down 21.5% yoy but up 87.86%...

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Canara Bank reports standalone net loss at Rs.3,905.49 crore in Q4FY16 vs net profit of Rs. 612.96 crore yoy : Beats Estimates

Canara Bank reports standalone net loss at Rs.3,905.49 crore in Q4FY16 vs net profit of Rs. 612.96 crore yoy : Beats Estimates

The bank’s standalone NII stood at Rs. 2,373.76 crore, down 4.52% yoy but up 6.61% qoq. Canara Bank, oldest and one of the major commercial banks of India, reported  standalone net loss of Rs.3,905.49 crore for the quarter ended March 31, 2016. However, the bank had reported net profit of Rs.612.96 crore in the corresponding quarter of the previous year and Rs. 84.97 crore in the preceding quarter. It's Net Interest Income (NII) for the quarter stood at Rs. 2,373.76...

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U.S. consumer sentiment revised down more than expected in May

U.S. consumer sentiment revised down more than expected in May

U.S. consumer sentiment was revised down more than expected in May, according to a report published on Friday. The final revision of the data for May from the University of Michigan's Consumer Survey Center showed that consumer sentiment dropped to 94.7, from the initial reading of 95.8 and April’s tally of 89.0.Analysts had forecast a reading of 95.4.The current conditions index was increased to 109.9, from the prior 108.6. Analysts had expected a tick down to 108.5.The consumer...

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MphasiS Q4FY16 consolidated net profit declines 11% qoq to Rs.154.75 crore : Estimates Mixed

MphasiS Q4FY16 consolidated net profit declines 11% qoq to Rs.154.75 crore : Estimates Mixed

The company’s consolidated revenue stood at Rs. 1,517.26 crore, up 0.03% qoq and 6.17% yoy.MphasiS Ltd, Bangalore based IT services company, reported consolidated net profit of Rs.154.75 crore for the quarter ended March 31, 2016, registering decline of 10.88% qoq and 12.91% yoy. The company’s revenue stood at Rs. 1,517.26 crore, clocking growth of 0.03% qoq and 6.17% yoy. It's consolidated operating profit of Rs. 233.50 crore for the quarter, grew 7.74% qoq and 15.83% yoy....

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ONGC Q4 PAT at Rs.4,416 crore, up 12.2%

ONGC Q4 PAT at Rs.4,416 crore, up 12.2%

The company has has recommended a Final Dividend at Rs.3.25 per equity share of Rs.5/- each, for the Financial Year 2015-16, subject to approval of the shareholders at the ensuing Annual General Meeting Oil & Natural Gas Corporation Ltd has announced the following results for the quarter & year ended March 31, 2016: The company has posted a net profit of Rs.44161.10 million for the quarter ended March 31, 2016 as compared to Rs.39350.70 million for the quarter ended March 31,...

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Tata Steel posts wider than expected Q4 loss, says UK business sale process on

Tata Steel posts wider than expected Q4 loss, says UK business sale process on

MUMBAI: Tata SteelBSE  2.13 % reported a consolidated net loss of Rs. 3213.76 crore for the March quarter against a loss Rs. 5674.29 crore in the year ago period.  The loss came in wider than expected as the company took impairment charges and write downs of Rs. 2857.79 crore due to restructuring in UK and some purely performing investments overseas.  Analysts were expecting a loss of Rs. 1027.08 crore on a revenue of Rs. 30337.51 crore, according to a Bloomberg...

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Larsen & Toubro Q4 net profit at Rs.2,454 crore, up 19%

Larsen & Toubro Q4 net profit at Rs.2,454 crore, up 19%

The company's total income has increased from Rs.28,312.2 crore for the quarter ended March 31, 2015 to Rs.33,375.2 crore for the quarter ended March 31, 2016.     Larsen & Toubro Ltd has announced the following Consolidated results for the quarter & year ended March 31, 2016: The audited consolidated results for the quarter ended March 31, 2016. The company has posted a net profit after tax, minority interest and share of profit of associates of...

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Apollo Hospitals Q4 net down 2 per cent at Rs 75.69 crore

Apollo Hospitals Q4 net down 2 per cent at Rs 75.69 crore

NEW DELHI: Healthcare major Apollo Hospitals Enterprise today reported a 2.12 per cent decline in standalone net profit to Rs 75.69 crore for the March quarter, mainly on account of increased expenditure.  The company had posted a net profit of Rs 77.33 crore during the April-March period of the previous fiscal, Apollo Hospitals Enterprise said in a filing to BSE.    However, the company's standalone total income from operations rose to Rs 1,396.26 crore from Rs...

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Aditya Birla Fashion & Retail posts Rs 109 crore loss for Q4

Aditya Birla Fashion & Retail posts Rs 109 crore loss for Q4

NEW DELHI: Aditya Birla Fashion and Retail (ABFRL), formerly known as Pantaloons Fashion, today reported a net loss of Rs 109.82 crore on standalone basis for the January-March quarter of 2015-16 against a loss of Rs 63.78 crore in the same period last year.  Besides, the company's board today approved acquisition of online and offline rights of global brand Forever 21 for the    ABFRL reported net sales of Rs 1,430.99 crore during the quarter under review against...

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Dr Reddy’s ends 1% higher on acquisition of 6 OTC brands

Dr Reddy’s ends 1% higher on acquisition of 6 OTC brands

The company announced the acquisition of an eminent portfolio of over-the-counter (OTC) brands in the cough-and-cold, pain, and dermatology categories. The company acquired six OTC brands from Ducere Pharma, including DOAN'S, BUFFERIN, NUPERCAINAL Ointment, CRUEX Nail Gel, COMTREX, and MYOFLEX. Shares of Dr. Reddy's Laboratories ended 0.92% higher at Rs. 3,052.95 on BSE after the company announced that it has acquired six OTC brands. The company announced the acquisition of an...

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Rupee strengthens by 42 paise against dollar

Rupee strengthens by 42 paise against dollar

The rupee closed higher on fresh selling of the American currency by exporters and banks amid strong equities. The local unit had hit a high of 67.38 and a low of 67.65. The Indian rupee closed higher on fresh selling of the American currency by exporters and banks amid strong equities. Dollar’s weakness against other currencies overseas also supported the rupee. The rupee opened higher on increased selling of the US currency by exporters and banks amid higher opening in the domestic...

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Crude oil at 7-month high; racing towards US$ 50 a bbl

Crude oil at 7-month high; racing towards US$ 50 a bbl

The global oil supply is expected to cut by nearly 4 million barrels per day this month. Data shows that US crude oil inventories have fallen by 5.1 million barrels to 536.80 million barrels. On the back of a sharp fall in the US inventories, and expectations of a cut in supply due to a wildfire in Alberta, Canada and spate of violence in Nigeria's oil-producing region, the crude oil price surged to a 7-month high on Wednesday. The global oil supply is expected to cut by nearly 4...

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Tata Motors approves fund raising via debentures

Tata Motors approves fund raising via debentures

The company has approved issuance of privately placed 3,000 Rated, Listed, Unsecured, 8.40% Coupon Redeemable, Non-Convertible Debentures (“NCDs”) of face value Rs. 10,00,000/- each, at par, aggregating up to Rs. 300 crores. Tata Motors Ltd has informed BSE that it has approved issuance of privately placed 3,000 Rated, Listed, Unsecured, 8.40% Coupon Redeemable, Non-Convertible Debentures (“NCDs”) of face value Rs. 10,00,000/- each, at par, aggregating upto Rs. 300...

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GSFC drops 8% after poor Q4 results

GSFC drops 8% after poor Q4 results

Gujarat State Fertilizers and Chemicals dropped 8% to Rs.73. The company reported a 49.50% drop in its net profit at Rs.32.57 crore for the quarter ended March 31, due to higher expenses. Gujarat State Fertilizers & Chemicals Ltd ended at Rs. 73.35, down by Rs. 6.3 or 7.91% from its previous closing of Rs. 79.65 on the BSE. The scrip opened at Rs. 74.05 and touched a high and low of Rs. 75.75 and Rs. 71.55 respectively. A total of 3696110(NSE+BSE) shares were traded on the counter....

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Jubilant Life down 4% despite USFDA nod

Jubilant Life down 4% despite USFDA nod

The company announced that its subsidiary Jubilant HollisterStier LLC, Spokane, Washington, has received Abbreviated New Drug Application (ANDA) approval for 0.9% Sodium Chloride Injection USP, 3 mL and 10 mL vials, the generi equivalent of Sodium Chloride 0.9% in Plastic Container, of Hospira, Inc., which is indicated only for diluting or dissolving drugs for intravenous, intramuscular or subcutaneous injection, according to instructions of the manufacturer of the drug to be...

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Info Edge (India) Q4FY16 standalone net profit declines 30% yoy to Rs.57.18 crore : Beats Estimates

Info Edge (India) Q4FY16 standalone net profit declines 30% yoy to Rs.57.18 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 204.20 crore, up 17.78% qoq and 17.81% yoy. Info Edge (India) Ltd, Indian e-commerce/on-line classifieds?ervice provider, reported standalone net profit of Rs.57.18 crore for the quarter ended March 31, 2016, registering growth of 163.09% qoq, but decline of 30.42% yoy. The company’s revenue stood at Rs. 204.20 crore, clocking growth of 17.78% qoq and 17.81% yoy. It's standalone operating profit of Rs. 56.94 crore for the...

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Godrej Industries Q4 PAT at Rs.116 crore, down 16% yoy

Godrej Industries Q4 PAT at Rs.116 crore, down 16% yoy

Total Income is Rs.26380.70 million for the quarter ended March 31, 2016 where as the same was at Rs.23390.70 million for the quarter ended March 31, 2015. Godrej Industries Ltd has announced the following results for the quarter & year ended March 31, 2016: The company has posted a net profit of Rs.317.30 million for the quarter ended March 31, 2016 as compared to Rs.439 million for the quarter ended March 31, 2015. Total Income has increased from Rs.3221.90 million for the quarter...

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P I Industries Q4FY16 standalone net profit rises 58% yoy to Rs.95.30 crore : Beats Estimates

P I Industries Q4FY16 standalone net profit rises 58% yoy to Rs.95.30 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 584.41 crore, up 8.83% yoy and 14.37% qoq. P I Industries Ltd, an agrochemicals firm, reported standalone net profit of Rs. 95.30 crore for the quarter ended March 31, 2016, registering growth of 57.99% yoy and 31.39% qoq. The company’s revenue stood at Rs. 584.41 crore, up 8.83% yoy and 14.37% qoq. Its standalone core operating profit of Rs. 107.29 crore for the quarter, clocked growth of 12.62% yoy and 2.35% qoq. Operating profit...

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Live Stock Market Updates - Sensex rallies over 500 points; Nifty reclaims 7900

Live Stock Market Updates - Sensex rallies over 500 points; Nifty reclaims 7900

The BSE Mid-cap Index is trading up 0.92% at 11,071, whereas BSE Small-cap Index is trading up 0.92% at 10,951. Out of 1,809 stocks traded on the NSE, 392 declined, 1,117 advanced and 300 remained unchanged today. he Indian equity market extended its gains for the second straight day on firm global cues.  At 2:57 PM, the S&P BSE Sensex is trading at 25,893 up 588 points, while NSE Nifty is trading at 7,886 up 137 points. The BSE Mid-cap Index is trading up 0.92% at 11,074,...

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Hindustan Media Ventures Q4 net up 21% at Rs 46.96 crore

Hindustan Media Ventures Q4 net up 21% at Rs 46.96 crore

NEW DELHI: Hindustan Media Ventures LtdBSE -4.96 % (HMVL) today posted a 20.59 per cent increase in standalone net profit at Rs 46.96 crore for the fourth quarter ended March 31, 2016.  The company had reported a net profit of Rs 38.94 crore in the January-March quarter of the previous fiscal 2014-15.  Net sales rose over 12.35 per cent to Rs 223.93 crore during the fourth quarter of 2015-16, from Rs 199.3 crore in the year-ago period, HMVL said in a filing to the...

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Bajaj Auto Q4 PAT meets Street estimates at Rs 803 crore, up 29.3%

Bajaj Auto Q4 PAT meets Street estimates at Rs 803 crore, up 29.3%

NEW DELHI: Bajaj Auto, the second largest two-wheeler maker in the country, reported profit after tax (PAT) of Rs 803 crore in the quarter ending March 31, 2016 as compared to Rs 621 crore in the same quarter last fiscal, a growth of 29.3 per cent (YoY).  The company reported total income from operations of Rs 5,411 crore as against Rs 4,739.34 crore in the same period a year ago, a jump of 14.9 per cent.  The margins for the quarter under review stood at 21.3 per cent in line...

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Neutral Colgate Palmolive India target Rs 900: Credit Suisse

Neutral Colgate Palmolive India target Rs 900: Credit Suisse

Credit Suisse maintains neutral rating on Colgate PalmoliveBSE -0.28 % India Ltd post March quarter results but slashed its 12-month target price to Rs 900 from Rs 930 earlier.  The volume growth saw a decent recovery after few quarters of slowing trends. The slowdown had been direct consequence of the rapid growth of Patanjali in toothpaste.    Pickup in growth is a positive surprise and management appeared confident of sustaining recovery. With Patanjali planning major...

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Amara Raja Batteries Q4 net up over 6 per cent to Rs 108.6 crore

Amara Raja Batteries Q4 net up over 6 per cent to Rs 108.6 crore

NEW DELHI: Amara Raja BatteriesBSE -4.75 % today reported a 6.19 per cent increase in net profit to Rs 108.6 crore for the quarter ended March 2016.  The company had posted a net profit of Rs 102.26 crore in the same period of the previous fiscal.  Net sales during the period under review stood at Rs 1,169.32 crore as against Rs 1,066.39 crore a year ago, up 9.65 per cen  For the entire 2015-16 fiscal, net profit came in at Rs 489.44 crore as against Rs 410.86 crore in the...

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Bharti Airtel clocks 1.2% gains on the bourses

Bharti Airtel clocks 1.2% gains on the bourses

The telecom company has entered into a definitive agreement to acquire 1800 MHz spectrum from Videocon Telecom for Rs.4,428 crore. Bharti Airtel gained 1.2% to Rs.349.25 on BSE. The telecom company has entered into a definitive agreement to acquire 1800 MHz spectrum from Videocon Telecom for Rs.4,428 crore.  The scrip opened at Rs. 346 and has touched a high and low of Rs. 350.75 and Rs. 346 respectively. So far 288566(NSE+BSE) shares were traded on the counter. The current market...

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 Arthakranti Proposal

Arthakranti Proposal

Anil Bokil , one of the key member of Arthakranti Sansthan was given time to share to PM Modi. He was given 9min for sharing but Mr Modi heard him for 2 hrs. Arthakranti Proposal What is Arthakranti Proposal and who hasgiven the proposal? “Arthakranti Proposal” has been given by a Pune (Maharashtra) based “Arthakranti Sansthan” which is an Economic Advisory body constituted by a group of Chartered Accountants and Engineers. This funda has been patented by the...

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Aban Offshore reports consolidated net loss of Rs.119.80 crore in Q4FY16: Misses Estimates

Aban Offshore reports consolidated net loss of Rs.119.80 crore in Q4FY16: Misses Estimates

The company’s consolidated revenue stood at Rs. 629.30 crore, down 36.52% yoy and 14.22% qoq Global offshore company specialising in drilling and exploration, Aban Offshore Ltd's consolidated net loss widened to Rs.119.80 crore for the quarter ended March 31, 2016 compared to Rs. 88.73 crore in the preceding quarter. However, the company had reported consolidated net profit of Rs. 113.54 crore in the corresponding quarter of the previous year . The company’s consolidated...

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Somany Ceramics Q4 net surges 76% to Rs 26 crore

Somany Ceramics Q4 net surges 76% to Rs 26 crore

NEW DELHI: Somany CeramicsBSE 11.04 % today reported a 76.31 per cent increase in standalone net profit at Rs 26.06 crore for the fourth quarter ended March.  The company had posted a standalone net profit of Rs 14.78 crore in the January-March period of 2014-15 fiscal.  Its net sales grew 12.72 per cent to Rs 513.52 crore during the same quarter of    2015-16 fiscal as against Rs 455.56 crore in the year-ago period, Somany Ceramics said in BSE filing.  For...

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Jyothy Labs Q4 net profit up by 32 per cent at Rs 36 crore

Jyothy Labs Q4 net profit up by 32 per cent at Rs 36 crore

NEW DELHI: FMCG firm Jyothy LaboratoriesBSE -2.94 % Ltd today reported 31.58 increase in net profit to Rs 35.61 crore for the fourth quarter ended March 31, 2015-16.  The company had posted net profit of Rs 27.06 crore in the January-March period of the 2014-15 fiscal.  Its net sales rose 12.39 per cent to Rs NEW DELHI: FMCG firm Jyothy LaboratoriesBSE -2.94 % Ltd today reported 31.58 increase in net profit to Rs 35.61 crore for the fourth quarter ended March 31,...

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Twenty stocks in focus in Monday morning trade

Twenty stocks in focus in Monday morning trade

NEW DELHI: The Indian market is expected to open flat-to-higher on Monday tracking positive trend seen in other Asian markets.    Here is a list of top twenty stocks that are likely to be in focus today:    HDFC Ltd: HDFC said that it will raise Rs 730 crore through private placement of non-convertible debentures. The mortgage lender said the proceeds will be used to fund its long term capital resources.  Nalco: Nalco said its board will meet on...

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Esab India shines after stellar Q4 results

Esab India shines after stellar Q4 results

The company reported a net profit of Rs.9.37 crore in the quarter ended March 2016 as against net loss of Rs.1.38 crore during the previous quarter ended March 2015.   Esab India jumped 3.6% to Rs.580 on BSE. The company reported a net profit of Rs.9.37 crore in the quarter ended March 2016 as against net loss of Rs.1.38 crore during the previous quarter ended March 2015. The scrip opened at Rs. 571 and touched a high and low of Rs. 630 and Rs. 571 respectively. A total of...

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IFC planning to invest Rs. 460 crore in Apollo Health

IFC planning to invest Rs. 460 crore in Apollo Health

The proposed investment is part of the overall capital of US$135 million (Rs.900 crore) raised by the unit. World Bank's investment arm International Finance Corporation (IFC) is looking to invest US$68 million (about INR 460 crore) in Apollo Health & Lifestyle. Apollo Health runs the Apollo Hospital's small format centres. The proposed investment is part of the overall capital of US$135 million (INR 900 crore) raised by the unit. "IFC is considering an equity...

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Honda Siel Q4 net profit up 6.2% at Rs. 15.4 crore

Honda Siel Q4 net profit up 6.2% at Rs. 15.4 crore

Honda Siel Q4 net profit surged by 6.2% at Rs. 15.4 crore. The total income was up 5.1% at Rs.194 crore as against Rs. 184.5 Cr (YoY).   Honda Siel Power Products Ltd ended at Rs. 1271.25, up by Rs. 5.5 or 0.43% from its previous closing of Rs. 1265.75 on the BSE. The scrip opened at Rs. 1255.5 and touched a high and low of Rs. 1288 and Rs. 1255.25 respectively. A total of 3251(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1289.05...

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Indo Rama Synthetics sells 30 MW wind project to Tata Power

Indo Rama Synthetics sells 30 MW wind project to Tata Power

The company has completed disposal process of its 100% subsidiary, Indo Rama Renewables Jath Limited, having 30 MW Wind Farm in Maharashtra to Tata Power Renewable Energy Indo Rama Synthetics (India) Ltd has now informed BSE that Indo Rama Renewables has completed disposal process of its 100% subsidiary, Indo Rama Renewables Jath Limited, having 30 MW Wind Farm in Maharashtra to Tata Power Renewable Energy Limited on May 19, 2016. Stock view: Indo Rama Synthetics (India) Ltd ended at...

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Just Dial: Q4 net profit at Rs.35.3 crore, down 25%; EBITDA Margin at 25.1%

Just Dial: Q4 net profit at Rs.35.3 crore, down 25%; EBITDA Margin at 25.1%

The company's total income has increased from Rs.1835.10 million for the quarter ended March 31, 2015 to Rs.1951.50 million for the quarter ended March 31, 2016. Just Dial Ltd has announced the following results for the quarter & year ended March 31, 2016: The Audited standalone results for the quarter ended March 31, 2016. The company has posted a net profit of Rs.353.30 million for the quarter ended March 31, 2016 as compared to Rs.471.60 million for the quarter ended March...

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Panama Petrochem Q4 net profit plunges 11%

Panama Petrochem Q4 net profit plunges 11%

Panama Petrochem Ltd Q4 net profit was lower 11.1% at Rs.4.8 crore. Total Income was down by 10.7% at Rs. 176.7 crore as against Rs. 197.8 Cr (YoY). anama Petrochem Ltd ended at Rs. 70.15, up by Rs. 2.25 or 3.31% from its previous closing of Rs. 67.9 on the BSE.   The scrip opened at Rs. 66.8 and touched a high and low of Rs. 70.2 and Rs. 66.8 respectively. A total of 9129(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 282.91...

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Clariant Chemicals Q4 net profit down 7.5%

Clariant Chemicals Q4 net profit down 7.5%

Total Income was up 8.2% at Rs.253.3 crore as against Rs. 234 Cr (YoY). Clariant Chemicals (India) Ltd Q4 net profit was down by 7.5% at Rs.9.9 crore Total Income was up 8.2% for the quarter was at Rs.253.3 crore as against Rs. 234 Cr (YoY). Clariant Chemicals (India) Ltd ended at Rs. 711.6, down by Rs. 18.25 or 2.5% from its previous closing of Rs. 729.85 on the BSE.   The scrip opened at Rs. 735 and touched a high and low of Rs. 740 and Rs. 705 respectively. A total of...

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RBI should be allowed to take its own decision:  Raghuram Rajan

RBI should be allowed to take its own decision: Raghuram Rajan

RBI has been enjoying full autonomy and support of the government so far and it should be allowed to take its own decision, Governor Raghuram Rajan has told the central bank's staff. The Reserve Bank of India has been enjoying full autonomy and support of the government so far and it should be allowed to take its own decision, Governor Raghuram Rajan has told the central bank's staff. While addressing an in-house meeting of RBI employees here on the first day of his three-day visit...

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Mundra sees no job losses from bank consolidation

Mundra sees no job losses from bank consolidation

Mundra, who joined RBI after rising up the ranks in commercial banks, said there have not been any job losses in such situations, even in the private sector. Bank consolidation should wait for the ongoing balance sheet clean-up so that the merged entity can get a fair valuation, Reserve Bank Deputy Governor S S Mundra said today and allayed fears of job losses in case SBI   merges its five associate banks with itself. "All these fears about job losses are without any base. Whenever...

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MMTC contracts 6 lakh tonnes urea import for arrival next mth

MMTC contracts 6 lakh tonnes urea import for arrival next mth

The country imports about 80 lakh tonnes of urea annually to meet the domestic demand. Indian Potash (IPL), MMTC and STC are the three authorised trading agencies for urea imports. Ahead of kharif sowing, state-run MMTC   has contracted to import six lakh tonnes of urea at USD 227 per tonne, on behalf of the government and the shipments are expected to reach India next month. The country imports about 80 lakh tonnes of urea annually to meet the domestic demand. Indian Potash (IPL), MMTC...

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Air India launches super sale scheme

Air India launches super sale scheme

Close on the heels of the budget carriers rolling out low fares, Government-run Air India has also launched a limited period super sale scheme, offering customers all-inclusive ticket prices starting as low as Rs 1,499 on its domestic network Close on the heels of the budget carriers rolling out low fares, Government-run Air India has also launched a limited period super sale scheme, offering customers all-inclusive ticket prices starting as low as Rs 1,499 on its domestic network. The...

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Ashoka Buildcon reports Q4 net loss at Rs 7 crore

Ashoka Buildcon reports Q4 net loss at Rs 7 crore

Highways sector player Ashoka Buildcon Limited reported a net loss of Rs 7.31 crore for the fourth quarter ended March 31 Highways sector player Ashoka Buildcon   Limited on May 20 reported a net loss of Rs 7.31 crore for the fourth quarter ended March 31. The company had reported a net profit of Rs 37.80 crore in the corresponding quarter of 2014-15. "The company has provided/ written off Rs 57.02 crore in Q4 2015-16 on account of termination of PNG Tollway," it said in a...

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ITC Q4 net profit up 6%, revenue grows 9%; cigarette biz steady

ITC Q4 net profit up 6%, revenue grows 9%; cigarette biz steady

Its cigarette revenue in Q4 jumped 10.2 percent at Rs 4639 crore from Rs 4211 crore while EBIT also increased 11.5 percent at Rs 3019 crore against Rs 2706 crore (YoY). ITC   has posted net profit at Rs 2495 crore in January-March quarter, up 5.7 percent from Rs 2361 crore in corresponding quarter last fiscal. Its topline exceeded street estimates while margins and net profit were in-line. During the quarter, the FMCG major's revenue jumped 9.4 percent at Rs 10168 crore against Rs...

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PM Effect !

PM Effect !

 Impact of PM & SEBI ! Here in 'PM' the letter P stands for P-Notes while M stands for Mauritius-India tax-treaty. These along with SEBI meeting to be held on 20May 2016 have badly disturbed the ongoing sentiments of the Indian share market and has caused a considerable loss to the traders. Lets go through these & try to analyse the matter impartially and patiently.There are two things which have shaken our economy are Black Money & almost full controll of FII...

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Karnataka Bank Q4 net profit down 21 per cent to Rs 106.7 crore

Karnataka Bank Q4 net profit down 21 per cent to Rs 106.7 crore

NEW DELHI: Private sector Karnataka BankBSE 7.14 % today reported a 21 per cent decline in net profit to Rs 106.7 crore for the March quarter , due to rise in bad loans.  The bank had posted a net profit of Rs 134.4 crore in the January-March period of the previous fiscal. Total income of the bank declined to Rs 1,447.6 crore in the January-March    1,447.6 crore in the January-March quarter of the 2015-16 fiscal as against Rs 1,308 crore in the year-ago...

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Britannia Q4 net up 14 percent at Rs 190.23 crore

Britannia Q4 net up 14 percent at Rs 190.23 crore

NEW DELHI: Bakery and dairy products maker Britannia IndustriesBSE -2.04 % today reported a 13.73 per cent increase in its consolidated net profit at Rs 190.23 crore for the quarter ended March 31, 2016.  The company had posted a net profit of Rs 167.25 crore in the same period of previous fiscal.  Britannia's net sales rose to Rs 2,189.83 crore during the quarter, up 7.77 per cen against Rs 2,031.83 crore in the same period of previous fiscal, Britannia Industries said...

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Entertainment Network Q4 income grow 18%

Entertainment Network Q4 income grow 18%

The Company posted a growth of 18.3% in total income at Rs.147.2 crores as compared to Rs.124.4 crores in Q4FY15. Earnings before Interest, Tax,Depreciation and Amortization (EBITDA) stood at Rs.38.5 crores, up 11.5%.Company reported PAT of Rs.20.1 crores for the quarter   Entertainment Network (India) Ltd, the operator of India’s #1 FM radio channel Radio Mirchi, today declared its result for the quarter and full financial year ended March 31, 2016.   The Company...

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Sobha slumps 4%; announces buyback of equity shares

Sobha slumps 4%; announces buyback of equity shares

The company has announced that its Board of Directors has approved a proposal to buy back 2275000 equity shares for an aggregate amount of Rs.750,750,000. Sobha Ltd was trading lower by 4% at Rs.294. The company has announced that the Board of Directors has approved a proposal to buy back upto 2,275,000 equity shares for an aggregate amount not exceeding Rs.750,750,000. The company posted a net profit of Rs.361 mn for the quarter ended March 31, 2016 compared with Rs.615 mn for the...

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Top 15 stocks in focus today: ITC, Maruti Suzuki, Spicejet

Top 15 stocks in focus today: ITC, Maruti Suzuki, Spicejet

Maruti Suzuki: Maruti Suzuki said that it will inspect suspected fault in 20,427 S-Cross vehicle, as per reports. The automobile firm will suspect fault and replace brake part in 20,427 units of S-Cross. ITC Ltd: ITC will be setting up eight new integrated food processing units by 2019, with investments of over INR 4,000 crore, reports a business daily. The company will announce its Q4 results today. As per IIFL’s forecast, the company is expected to register a net revenue of...

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Gujarat State Petro Ltd Q4 net up 48% to Rs 99.7 crore

Gujarat State Petro Ltd Q4 net up 48% to Rs 99.7 crore

Gujarat State Petronet LtdBSE -1.16 % today reported a 48 per cent rise in net profit to Rs 99.7 crore for the March quarter.  The company had posted a net profit of Rs 67.09 crore in January-March quarter of the previous fiscal, it said in a filing to the stock exchanges .  Total income has decreased from Rs 250.26 crore for the quarter ended March 31, 2015 to Rs 244.98 crore in fourth quarter of 2015-16 fiscal.    The company board declared a dividend of...

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Gujarat Pipavav Port Q4 net profit dips 25 per cent to Rs 49.83 crore

Gujarat Pipavav Port Q4 net profit dips 25 per cent to Rs 49.83 crore

NEW DELHI: Gujarat Pipavav Port Ltd ( GPPL ) today reported a 25.49 per cent decline in standalone net profit at Rs 49.83 crore for the March quarter.  The company, part of APM Terminals had posted a net profit of Rs 66.88 crore in the year-ago quarter, GPPL said in a BSE filing .  Total income of the company also fell by 14.36 per cent to Rs 160.98 crore in the fourth quarter against Rs 187.99 crore in the corresponding period.  The expenses, however, declined to Rs...

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Dishman Q4 net profit up 29% at Rs 50 cr, to sell stakes in joint venture Schutz Dishman

Dishman Q4 net profit up 29% at Rs 50 cr, to sell stakes in joint venture Schutz Dishman

Dishman Pharmaceuticals and Chemicals BSE 2.33 % today reported a 29.29 per cent increase in consolidated net profit at Rs 49.92 crore for the March quarter.  The company, which today announced plans to sell 50 per cent stake in joint venture Schutz Dishman for three lakh euros to its promoters, had reported a consolidated net profit of Rs 38.61 crore in    January-March period of 2014-15.  Net sales declined 3.55 per cent to Rs 405.67 crore in the quarter as...

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SpiceJet reports profit of Rs 73 crore in Q4

SpiceJet reports profit of Rs 73 crore in Q4

SpiceJetBSE -4.62 % on Thursday announced a net profit of Rs 73 crore for the quarter to March, saying this was despite the budget airline's one-time expense of Rs 173 crore on stabilisation and reliability of its fleet. The airline said that it clocked its highest profit ever during 2015-16, at Rs 407 crore, which came after its loss of Rs 687 crore in the previous fiscal.    "Last quarter has been the best-ever quarter. We have cleared all financial dues and will...

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Syndicate Bank falls 1%; plans to raise up to Rs.4,300 cr this fiscal

Syndicate Bank falls 1%; plans to raise up to Rs.4,300 cr this fiscal

Syndicate Bank said it will raise up to Rs.4,300 crore this fiscal through various instruments Syndicate Bank said it will raise up to Rs.4,300 crore this fiscal through various instruments including Basel-III compliant bonds, rights issue and preferential allotment. Syndicate Bank is currently trading at Rs. 67.6, down by Rs. 0.85 or 1.24% from its previous closing of Rs. 68.45 on the BSE. The scrip opened at Rs. 67 and has touched a high and low of Rs. 68.8 and Rs. 67...

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CESC Q4 net profit at Rs.248 crore

CESC Q4 net profit at Rs.248 crore

CESC Ltd posted a net profit after tax of Rs. 2480 mn for the quarter ended March 31, 2016 as compared to Rs. 2440 million for the quarter ended March 31, 2015.    Total Income has increased from Rs. 14480 mn for the quarter ended March 31, 2015 to Rs. 15090 million for the quarter ended March 31, 2016.   The Company has posted a net profit after tax of Rs. 7070 million for the year ended March 31, 2016 as compared to Rs. 6980 million for the year ended March 31,...

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Lupin Q4 PAT at Rs 807 crore, up 47.5%; net sales cross Rs 4,000 crore mark for the first time

Lupin Q4 PAT at Rs 807 crore, up 47.5%; net sales cross Rs 4,000 crore mark for the first time

The company had reported PAT of Rs 547 crore in the same quarter last fiscal.  For March quarter, net sales stood at Rs 4,091 crore as against Rs 3,054 crore, signifying a jump of 34 per cent. Net sales crossed the Rs 4,000 crore mark for the first time.  Margins grew to 33.4 per cent versus 25.9 per cent (YoY).  EBITDA or earnings before interest, tax, depreciation and amortisation stood Rs 1,368 crore as against Rs 790 crore.  Company announces final dividend...

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Dalmia Bharat Q4 net profit rises over two-fold to Rs 115 cr

Dalmia Bharat Q4 net profit rises over two-fold to Rs 115 cr

 Diversified firm Dalmia Bharat today reported more than two-fold jump in consolidated net profit at Rs 114.86 crore for the quarter ended March 31, on account of higher sales.  It had clocked a net profit of Rs 47.28 crore in the same quarter corresponding year.  Net sales increased to Rs 1,880.49 crore, up 47.86 per cent, from Rs 1,271.76 crore in the review period.  Dalmia Bharat has its presence in cement, sugar, refractories and power...

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 Tata International to locate strategic functions in Singapore

Tata International to locate strategic functions in Singapore

Over 70 percent of top minerals and mining companies and over 60 percent of the world's top 30 steel companies are based here, Iswaran said. Singapore today welcomed India's Tata International's announcement to locate their strategic global minerals and agri-commodities functions in the country, saying the move should encourage more global traders to anchor their core business activities here. Minister of Trade and Industry S Iswaran today noted that Tata's decision was based...

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Glenmark gets final USFDA nod to sell Rufinamide

Glenmark gets final USFDA nod to sell Rufinamide

"Glenmark Pharmaceuticals, USA, has been granted final approval by the United States Food and Drug Administration (USFDA) for its Rufinamide tablets," it said in a BSE filing.  Glenmark Pharmaceuticals has received final approval from the US health regulator USFDA to sell Rufinamide, which is used to treat seizures caused by Lennox-Gastaut syndrome. "Glenmark Pharmaceuticals, USA, has been granted final approval by the United States Food and Drug Administration (USFDA)...

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 Sensex slips over 150 points

Sensex slips over 150 points

The INDIA VIX is up 3.70% at 16.8875. Some buying activity is seen in metal, realty, pharma, industrial and basic materials sectors, while telecom, auto, capital goods, oil and gas, banking, IT, industrial, FMCG and IT sectors are showing weakness on BSE.   the S&P BSE Sensex is trading at 25,574 down 130 points, while NSE Nifty is trading at 7,830 down 40 points. The BSE Mid-cap Index is trading down 0.32% at 11,166, whereas BSE Small-cap Index is trading down 0.01% at...

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Election Impact! Logistics stocks trade higher on GST hopes

Election Impact! Logistics stocks trade higher on GST hopes

The shares of logistics companies are gaining on the counter, as BJP and regional parties have put up a good show in the just concluded regional elections. West Bengal CM Mamata Banerjee said to a press gathering that TMC will support the passage of GST in Rajya Sabha during the monsoon session. The shares of logistics companies are gaining on the counter, as BJP and regional parties have put up a good show in the just concluded regional elections. West Bengal CM Mamata Banerjee said to a...

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Castrol India slumps as promoter BP sells 7% stake in company

Castrol India slumps as promoter BP sells 7% stake in company

Shares of Castrol IndiaBSE -3.32 % slipped 5 per cent in Thursday's trade after British Petroleum, the promoter of the company, sold 7 per cent stake in the company.  The stake sale is worth Rs 2,000 crore or $287 million at Rs 355-Rs 385.5 a share.  The share sale took place on the bourses in six block deals with 7 per cent equity stake being sold for $191 million with BP holding the right to sell additional 3.5 per cent equity share for $96 million.  Reacting...

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Assembly Elections 2016: Sun TV tanks 12%, Raj TV soars 20% on AIADMK win in Tamil Nadu

Assembly Elections 2016: Sun TV tanks 12%, Raj TV soars 20% on AIADMK win in Tamil Nadu

Chennai-based Sun TV owned by Kalanithi Maran (grandnephew of DMK President M Karunanidhi) had jumped 11 percent on Tuesday as most exit polls had predicted that the DMK-Congress alliance may win the state elections in Tamil Nadu. Shares of Sun TV tumbled over 12 percent intraday on Thursday as AIADMK is all set to form government in Tamil Nadu for the second consecutive time. It was a direct contest between Chief Minister J Jayalalithaa's AIADMK and DMK-Congress alliance for the...

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PNB Q4 loss at Rs 5367 cr, provisions rise 3-fold to Rs 10485 cr

PNB Q4 loss at Rs 5367 cr, provisions rise 3-fold to Rs 10485 cr

Provisions increased nearly 3-fold to Rs 10,485.23 crore during the quarter compared to Rs 3,775.53 crore in preceding quarter and Rs 3,834.2 crore in corresponding period of last fiscal.  Punjab National Bank (PNB) on Wednesday reported a net loss of Rs 5,370 crore in the March quarter.  This was the biggest quarterly loss in India's bank history.  The lender had reported a net profit of Rs 307 crore in the corresponding quarter of last year.   

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Petrol, diesel prices go up marginally

Petrol, diesel prices go up marginally

Petrol price was hiked by 83 paisa a litre and diesel by Rs 1.26 per litre, the second increase in rates this month. Petrol in Delhi will cost Rs 63.02 per litre from midnight tonight, while a litre of diesel will cost Rs 51.67, said Indian Oil Corporation   (IOC), the nation's largest fuel retailer. Rates were last hiked by Rs 1.06 a litre on petrol and Rs 2.94 a litre on diesel on May 1. "The current level of international product prices of petrol and diesel and the rupee-US...

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Triveni Engineering posts Rs 44.14 cr net profit in Q4

Triveni Engineering posts Rs 44.14 cr net profit in Q4

It had posted a net loss of Rs 85.60 crore in the year-ago period, the company said in a BSE filing. Sugar firm Triveni Engineering and Industries   Ltd reported consolidated net profit of Rs 44.14 crore for the quarter ended March on higher sales and lower expenditure. It had posted a net loss of Rs 85.60 crore in the year-ago period, the company said in a BSE filing. Income from operations also increased to Rs 468.05 crore in the fourth quarter of last fiscal from Rs 447.65 crore in...

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Jaitley hopeful of getting GST Bill passed in monsoon session

Jaitley hopeful of getting GST Bill passed in monsoon session

As the NDA government completes two years in office, Jaitley painted a rosy picture of the economy, saying growth could accelerate further to 10 percent as bad loan situation is improving and all steps have been taken to dig out black money. Confident of support from regional parties like SP, BSP and DMK, Finance Minister Arun Jaitley hoped that the GST Bill will be approved in the monsoon session of Parliament and said the government will not relent on crackdown against corruption to win...

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Piramal Enterprises Ltd Q4

Piramal Enterprises Ltd Q4

  Piramal Enterprises Ltd Piramal Enterprises posted a net profit after taxes, minority interest and share of profit of associates of Rs.1802.40 mn for the quarter ended March 31, 2016 whereas the same was at Rs. 954 mn for the quarter ended March 31, 2015. Total income is Rs.17726.90 mn for the quarter ended March 31, 2016 whereas the same was at Rs.13709.50 million for the quarter ended March 31, 2015. The Group has posted a net profit after taxes, minority interest and share...

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FM Arun Jaitley asks Congress to reconsider GST stand,

FM Arun Jaitley asks Congress to reconsider GST stand,

NEW DELHI: Finance Minister Arun Jaitley has made a strong pitch for passing the goods and services tax (GST) in the monsoon session of Parliament, calling on Congress to support this important reform or allow the Rajya Sabha to function so that it can be deliberated. "When we meet again in the monsoon session I think it will be an appropriate time for us to take a view," FM said in his reply to the debate on budget, clearly spelling out government's position.  "We...

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Nifty to open with deep Red on Mauritius tax treaty

Nifty to open with deep Red on Mauritius tax treaty

Indian shares are expected to open deep in the red after the Indian government amended a long-standing tax treaty with Mauritius that plugs loopholes in the system and aims to check tax evasion. At the time of writing, the SGX Nifty in Singapore was down 96 points, or 1.23 percent, to 7,823. Globally, most shares were trading higher tracking a strong close on Wall Street overnight. But the amendment to the Mauritius Double Tax Avoidance Agreement, which comes into effect April 1, 2017, will...

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Bulls pushing Sensex & Nifty higher, but traders should not get too excited.

Bulls pushing Sensex & Nifty higher, but traders should not get too excited.

NEW DELHI: Whenever the market breaks out of a narrow range, the consensus view usually turns bullish, but lack of momentum and followup buying usually are the two main culprits that spoil the party for the bulls.If history is something to go by, the domestic market has come under pressure whenever it has come closer to its key resistance levels. For Nifty50, key resistance levels are at 7,900 and 8,000, where there is heavy build up of Call options. On technical parameters, a close above...

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HUL Q4 net profit up 7%, volume growth disappoints at 4%

HUL Q4 net profit up 7%, volume growth disappoints at 4%

HUL has posted net profit at Rs 1090 crore in January-March quarter, up 7.1 percent from Rs 1018 crore in corresponding quarter last fiscal. Total income in Q4 rose 3.5 percent at Rs 7946 crore against Rs 7675 crore in year-ago period. During the quarter, its EBITDA grew 11.4 percent at R 1467 crore against Rs 1317 crore while EBITDA margins stood at 18.5 percent versus 17.2 percent year-on-year.  However, volume growth of 4 percent (YoY) in the quarter was disapointing. Volume growth in...

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Twenty stocks in focus in Monday morning trade

Twenty stocks in focus in Monday morning trade

Here is a list of top twenty stocks that are likely to be in focus today:  Reliance Capital:  Reliance Capital reported a marginal 1.9 per cent increase in its consolidated net profit at Rs 415 crore for the quarter ended March 2016.  IT stocks will be in focus after US-based Cognizant Technology Solutions, which over the past five years posted a scorching run of growth and won market share from rivals such as TCS and Infosys  reported its slowest...

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NSE to launch weekly options contracts on Bank Nifty index

NSE to launch weekly options contracts on Bank Nifty index

Leading stock exchange NSE said it will introduce weekly options contracts on Bank Nifty index from May 27. The decision comes after receiving approval from markets regulator Securities and Exchange Board of India (Sebi). "The exchange is pleased to inform members that with reference to approval received from Sebi, Weekly Options contracts on Bank Nifty index shall be made available for trading in Future & Options segment with effect from May 27, 2016," National Stock Exchange...

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Government to build 1,000 km of expressways for Rs 16,680 crore

Government to build 1,000 km of expressways for Rs 16,680 crore

NEW DELHI: To ensure quicker connectivity, the government plans to build 1,000 km of expressways at an investment of Rs 16,680 crore under its NHDP programme, which include the Vadodara-Mumbai project.  The central government has approved a plan for constructing 1,000 km of expressways under the National Highways Development Project (NHDP) phase VI at a cost of Rs 16,680 crore on design, build, finance, operate and transfer (DBFOT) basis," Minister of State for Road Transport and...

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Opening a bank is easier than a restaurant: SBI Chairman Pratip Chaudhuri

Opening a bank is easier than a restaurant: SBI Chairman Pratip Chaudhuri

The Reserve Bank of India has sought views on its draft guidelines for 'on tap' licensing of universal banks in the private sector. The former State Bank of India Chairman Pratip Chaudhuri also said it is easier to start a bank but difficult to run it. The Reserve Bank of India has sought views on its draft guidelines for 'on tap' licensing of universal banks in the private sector.  It has sought comments on its draft guidelines from banks, non-banking...

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Castrol India gains after reporting decent Q1 results

Castrol India gains after reporting decent Q1 results

Castrol India gained 6% to Rs 414.05 at 14:28 IST on BSE after net profit rose 17.5% to Rs 172.40 crore on 7.1% rise in net sales to Rs 855.70 crore in Q1 March 2016 over Q1 March 2015. On BSE, so far 2.66 lakh shares were traded in the counter as against average daily volume of 86,134 shares in the past one quarter. The stock hit a high of Rs 414.05 and a low of Rs 386.85 so far during the day. The stock had hit a 52-week high of Rs 513.15 on 30 July 2015. The stock had hit a...

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Eicher Motors gains after declaring good quarterly result

Eicher Motors gains after declaring good quarterly result

The result was announced during market hours today, 5 May 2016. Meanwhile, the S&P BSE Sensex was up 224.48 points or 0.89% at 25,326.21 On BSE, so far 21,099 shares were traded in the counter as against average daily volume of 5,084 shares in the past one quarter. The stock hit a high of Rs 19,999 and a low of Rs 19,208 so far during the day. The stock had hit a 52-week low of Rs 14,498.60 on 7 May 2015. The stock had hit a record high of Rs 21,618.30 on 21 July 2015. The stock had...

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Bankruptcy code to be taken up for discussion on Thursday: Finance Minister

Bankruptcy code to be taken up for discussion on Thursday: Finance Minister

  Finance Minister Arun Jaitley on Thursday said government will take up the Insolvency and Bankruptcy Code for discussion and passage in Lok Sabha immediately after his reply on the Finance Bill. "One important bill from the point of view of the economy which has been cleared is MMRD Bill. Now we are going through Finance Bill. Tomorrow I have to reply to that. Immediately thereafter we will take up the bankruptcy code," he told reporters here. A 30-member Joint Committee of...

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SKS Microfinance changes name to Bharat Financial Inclusion  Limited

SKS Microfinance changes name to Bharat Financial Inclusion Limited

SKS Microfinance Limited today said it has decided to change its corporate name to 'Bharat Financial Inclusion Limited' subject to regulatory and corporate approvals. "Bharat Financial Inclusion Limited reflects the new brand and its delivery capabilities as 'Bharat', the Sanskrit name of India, emphasises the company's unique distinction of having a formidable, predominantly rural network across the country, and 'Financial Inclusion' is the delivery of...

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Analysts bullish on Parag Milk Foods IPO

Analysts bullish on Parag Milk Foods IPO

Most analysts are bullish on Parag Milk Foods IPO, open from May 4-6 and recommend subscribing the issue. With a price band of Rs 220-227 per share, the IPO aims to raise Rs 760 crore. The Maharashtra-based dairy company owns brands like Go, Gowardhan, Pride of Cows and Topp UP. The company is offering 2.06 crore shares of which 0.31 crore shares are being sold by promoters, 1.43 crore shares are being sold by investor shareholders, and the balance by other shareholders. This would be the third...

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Asian markets mostly lower, ASX down 1.2%, Hong Kong down 1%

Asian markets mostly lower, ASX down 1.2%, Hong Kong down 1%

Across the Korean strait, the Kospi was trading 0.55 percent lower. In Hong Kong, the Hang Seng index shed 1.03 percent. Asian markets traded on the back foot, after US stocks fell overnight amid renewed global growth concerns and as oil prices lost ground. "Equity market sentiment seems to be rolling over globally as the wind begins to come out of the oil price rally," said Angus Nicholson, market analyst at spreadbetter IG, in a note Wednesday. Oil prices retreated overnight,...

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GST, land reforms key to boost india's economic growth:IMF

GST, land reforms key to boost india's economic growth:IMF

Structural reforms, including GST and in areas like land and labour, will be key to boost India's economic growth potential going forward, IMF said today. "India's growth outlook is favourable, with GDP growth projected to strengthen to 7.5 percent in the current fiscal year, even in the absence of major structural reforms," said Ranil Manohara Salgado, Chief of Regional Studies Division, Asia and Pacific Department of IMF. IMF today released its Regional Economic Outlook for Asia and Pacific...

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MTR Foods today said it will invest about Rs 200 crore in the next three to five years to scale up its manufacturing infrastructure.

MTR Foods today said it will invest about Rs 200 crore in the next three to five years to scale up its manufacturing infrastructure.

MTR Foods today said it will invest about Rs 200 crore in the next three to five years to scale up its manufacturing infrastructure. The company also announced the opening of its new e-commerce platform, which will give consumers access to its entire range of products. "Another big thing that we are doing is around operations and manufacturing, which is really in preparation for the future. If we have to grow... we will need additional capacity, we will need additional investment,"...

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HC to Maha: What steps taken to tackle drought in May-June?

HC to Maha: What steps taken to tackle drought in May-June?

The Bombay High Court today asked Maharashtra government to inform what steps it had taken to tackle the drought situation in May and June when it may worsen before the onset of monsoon. The reply is to be filed on May 5. Hearing a public interest litigation filed by Loksatta Movement seeking shifting IPL matches out of Maharashtra on account of water scarcity, a bench headed by Justice V M Kanade also asked the government to explain why it had not declared drought in the state so far....

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Mallya slams media, says check facts before calling me defaulter .

Mallya slams media, says check facts before calling me defaulter .

In his resignation letter to Rajya Sabha Chairman Hamid Ansari, he said he does not want his "name and reputation to be further dragged in the mud, Business tycoon Vijay Mallya, who is facing a case of loan default of over Rs 9400 crore, has targeted the Indian media for his troubles, accusing it of not verifying facts. Citing that he had made a settlement offer, Mallya questioned why he should be called a defaulter. "Agree Kingfisher Air owes money to banks.I am neither a borrower...

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