- Business
ICICI Bank Q2 profit falls by 28 pc on deferred tax adjustment
Mumbai (Maharashtra) [India], Oct 29: India’s largest private sector lender ICICI Bank said on Saturday its profit after tax dropped by 28 per cent to Rs 655 crore in the second quarter of current fiscal (Q2 FY20) due to deferred tax assets adjustment. However, overall earnings were healthy wi
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Mahindra to acquire 100 pc stake in Peugeot Motocycles to explore new markets
Mandeure [France], Oct 29: Mahindra Two Wheelers Europe, a subsidiary of Mahindra & Mahindra, will acquire 100 per cent ownership of Peugeot Motocycles (PMTC) to drive future growth in core European markets and expand into new geographies, including select Asian markets. This growth plan is back
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Reliance to invest Rs 1.08 lakh crore in new digital services subsidiary
Mumbai (Maharashtra) [India], Oct 29: Reliance Industries Ltd (RIL) board of directors has approved the formation of wholly-owned digital services subsidiary with a capital infusion of Rs 1.08 lakh crore. The new company will become the conglomerate’s umbrella platform for all digital business
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Tata Motors reports Q2 loss at Rs 216 crore amid slowing demand
Mumbai (Maharashtra) [India], Oct 2: Automaker Tata Motors on Friday reported a consolidated loss of Rs 216 crore for the second quarter of current fiscal against a loss of Rs 1,049 crore in the same period of previous fiscal amid slowing demand for passenger and commercial vehicles in the home mark
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Equity indices end flat, banking stocks gain
Mumbai (Maharashtra) [India], Oct 28 : Equity benchmark indices swung wildly between gains and losses on Friday but ended flat as investors mulled over mixed corporate earnings of the second fiscal quarter. The BSE S&P Sensex closed 38 points higher at 39,058 while the Nifty 50 was up by 1 point
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Arthur J Gallagher & Co invests in Edelweiss Insurance Brokers Ltd
Mumbai (Maharashtra) [India], Oct 28: Diversified financial services conglomerate Edelweiss Group said on Friday that US-based Arthur J. Gallagher & Co — one of the world’s largest insurance brokerage and risk management services firms — has acquired a minority stake by way of
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Piramal Enterprises approves raising of Rs 5,400 crore capital
Mumbai (Maharashtra) [India], Oct 28: The board of Piramal Enterprises on Friday approved fresh capital raising of Rs 5,400 crore through a rights issue and preferential allotment of compulsory convertible debentures (CCDs). The rights issue of Rs 3,650 crore at Rs 1,300 per share is intended to giv
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Panasonic and Welcome Air-Tech’s Saiver to develop new connected air handling and VRF solution
Hong Kong, Oct 25: Panasonic Corporation, a worldwide leader in the development of heating ventilation, air conditioning and refrigeration (HVAC&R), along with Welcome Air-Tech (WAT), a regional specialist in air handling units (AHU), on Friday announced a strategic alliance to create an energy-
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SBI Q2 profit jumps by 219 pc at Rs 3,012 crore, asset quality improves
Mumbai (Maharashtra) [India], Oct 25: Government-owned State Bank of India (SBI) on Friday reported a standalone net profit of Rs 3,012 crore for the July to September quarter (Q2 FY20), up 219 per cent from Rs 945 crore in the same quarter of previous fiscal. The country largest lender clocked net
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Jewellery stocks trade lower on Dhanteras, PC Jeweller drops by 5.6 pc
Mumbai (Maharashtra) [India], Oct 25 : Shares of jewellery companies traded lower on Friday as gold demand remained subdued during Dhanteras, the first day that marks the festival of Diwali in India. Gold prices hovered around Rs 38,500 per 10 grammes. Dhanteras is considered as an auspicious day to
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Airtel launches initiative to support startups, acquires stake in Bengaluru-based Vahan
New Delhi [India], Oct 25: Telecom major Bharti Airtel on Friday announced the launch of its startup accelerator programme to support growth of early-stage Indian tech startups. Through the initiative, early startups get access to Airtel’s online and offline distribution network, deep market u
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Strides Pharma reports Q2 EBITDA at Rs 150 crore on revenue of Rs 718 crore
Bengaluru (Karnataka) [India], Oct 25: Strides Pharma Science on Friday reported consolidated revenues at Rs 718 crore during the July to September quarter, demonstrating a 37 per cent year-on-year growth. In Q2 FY19, it had reported revenues at Rs 524 crore while they totalled Rs 688 crore in the f
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India’s credit squeeze pushes growth to a six-year low: Fitch Ratings
London [Britain], Oct 25: The Indian economy is being held back by a large squeeze in credit availability emanating from non-bank financial companies (NBFCs), according to Fitch Ratings. Assuming the sluggish pace of lending is maintained throughout the year, total new lending will amount to only 6.
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Infosys announces stock incentives for nearly 7,000 mid-level employees
Bengaluru (Karnataka) [India], Oct 25 : Infosys has announced stock incentive option to its mid-level 6,949 eligible employees in the form of restricted stock units (RSU). “This is to inform that 2,298,020 stock incentives in the form of RSUs were granted to 6,949 mid-level eligible employees
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Dixon Technologies to manufacture mobile phones for Samsung
Dixon Technologies is the largest company engaged in manufacturing consumer durables, lighting products and mobile phones, as per Frost & Sullivan. Noida (Uttar Pradesh) [India], Oct 25: Dixon Technologies said on Friday it has entered into an agreement with Samsung India Electronics for manufac
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SC judgment last straw in contributing to telecom financial distress: COAI
New Delhi [India], Oct 24: The telecom sector on Thursday expressed deep disappointment over the Supreme Court’s judgment on the definition of adjusted gross revenue (AGR) which it said will negatively impact incumbent operators by over Rs 92,000 crore. “The Supreme Court’s judgmen
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Sitharaman calls for more efforts to move up further on Ease Of Doing Business rankings
New Delhi [India], Oct 24: Finance Minister Nirmala Sitharaman expressed satisfaction on Thursday over India’s upward movement in the World Bank’s Ease Of Doing Business rankings. “I am very happy that the country moves forward in Ease Of Doing Business rankings by jumping 14 place
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InterGlobe posts Rs 1,062 crore loss in Q2 due to high costs
Gurugram (Haryana) [India], Oct 24 : InterGlobe Aviation, the parent company of low-cost airline IndiGo, on Thursday reported a net loss of Rs 1,062 crore during the July to September quarter (Q2 FY20). Total expenses were Rs 9,572 crore, jumping by 27.6 per cent over the same quarter last year and
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Equity gauges close flat but telecom, banking stocks plunge after SC’s order on overdues
Mumbai (Maharashtra) [India], Oct 24: Equity gauges wiped out early gains on Thursday and witnessed bouts of volatility as investor sentiment swayed by the trends of Maharashtra and Haryana assembly poll results. The BSE S&P Sensex closed 38 points lower at 39,020 while the Nifty 50 was down by
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