Bombay High Court concludes hearing Maggi noodles case
Published on Saturday, August 1, 2015 10:50 AM
MUMBAI - The Bombay High Court has concluded hearing a case filed by Nestle India challenging a local regulator's report that Maggi instant noodles contained excess lead, a lawyer for the company said. ...
The court will give a judgement at a later date, Rajesh Batra said in a statement late on Friday.<
India's April-June fiscal deficit touches $44.9 bln - govt
Published on Saturday, August 1, 2015 10:27 AM
NEW DELHI - India's fiscal deficit during April-June touched 2.87 trillion rupees ($44.86 billion) or 51.6 percent of the target for the 2015/16 fiscal year ending in March 2016, government data showed on Friday. ...
The deficit was 56.1 percent during the same period a year ago.
IOC to cut diesel, gasoline prices from Saturday
Published on Saturday, August 1, 2015 11:43 AM
NEW DELHI - Indian Oil Corp will cut the price of diesel by 7.2 percent and that of gasoline by 3.6 percent from Saturday reflecting changes in global price of the two fuels since the last revision. ...
The retail price of diesel will decline by 3.60 rupees ($0.06) and that of gasoline, or petrol, will decrease b
India plans to give $11 billion lifeline to ailing state banks
Published on Saturday, August 1, 2015 11:39 AM
By Manoj Kumar ...
NEW DELHI - Planning to inject $11 billion of capital into debt-laden state banks over the next four years, Finance Minister Arun Jaitley on Friday sought parliament's approval to boost budget spending by $4 billion in the current fiscal year.
High levels of non-performing
ICICI Bank sees slower rate of new troubled loans
Published on Friday, July 31, 2015 5:47 PM
By Devidutta Tripathy ...
MUMBAI - ICICI Bank Ltd said on Friday it saw the rate of new troubled loans slowing as the nation's biggest private sector lender by assets reported a better-than-expected quarterly profit.
A drop in the bad-loan ratio for the three months to June from a
After uproar, India ups budget for some social welfare sectors
Published on Friday, July 31, 2015 5:30 PM
NEW DELHI - The government on Friday sought parliamentary approval to raise federal spending on social welfare, months after opposition lawmakers and Prime Minister Narendra Modi's own officials slammed his cuts in spending. ...
Modi's finance ministry plans to raise the budget for women and child w
Infrastructure output growth slows to 3 percent in June
Published on Friday, July 31, 2015 5:19 PM
NEW DELHI - India's annual infrastructure output growth slowed to 3 percent in June, on the back of a sharp slowdown in electricity production, government data showed on Friday. ...
Output had grown 4.4 percent year-on-year in May.
Electricity production expanded an annual 0.2 percent last mo
Dena Bank Q1 net plunges 81% at Rs 15 cr; bad loans jump
Published on Friday, July 31, 2015 5:07 PM
State-run lender Dena Bank has reported that its net profit for the first quarter ended June 30, 2015 slipped by 81 per cent at Rs 15 crore from the same period a year ago on higher provisioning amid a sharp deterioration in asset quality. In Q1 FY 2014-15, the public sector bank had posted a net profit of Rs 82 crore, Dena Bank said in a fil ...
Larsen & Toubro posts over 37 percent slide in Q1 profit
Published on Friday, July 31, 2015 4:40 PM
NEW DELHI - Larsen & Toubro Ltd reported on Friday a net profit of 6 billion rupees ($93.6 million) for its first quarter, more than a third down on the previous year, and the engineering giant said the short-term business environment remained "challenging". ...
Last year the company rep