Dewan Housing Q3 net profit up 24.99% at Rs 305.95 cr

The company reported standalone net profit of Rs 305.95 crore for the quarter ended December 31, 2017 as compared to Rs 244.77 crore in the same period last year, registering a year-on-year growth of 24.99 per cent.

Net revenue of the company rose moderately by 11.25 per cent at Rs 2,631.60 crore in October-December quarter of this fiscal as against Rs 2,365.51 crore in the correspond

Pressure on Airtel, other telcos could partly ease: Fitch Ratings

India's largest telecom operator Bharti Airtel's weak earnings may have marked a low point for Indian telcos but some bit of pressure could lift this year as Jio-triggered market competition starts to ease, according to Fitch Ratings, reported PTI.

The statement comes after Airtel last week posted over 39 per cent fall in consolidated net profit to about Rs 306 crore for the t

Essar Group appoints Kaustubh Sonalkar as President-HR, Essar

Essar Group today announced appointment of Kaustubh Sonalkar as PresidentHR and Chief Executive Officer of Essar Foundation.This is his second stint with Essar -- he was affiliated with Essar Energy for many years in his previous stint.Prior to this stint at Essar, he was associated with Future Group as the Group Chief People Officer, the company said in a statement.He was also the Senior Partn

Philips India appoints Sudeep Agrawal as CFO

Philips India said it has appointed Sudeep Agrawal as chief financial officer - Indian subcontinent, effective January 15, 2018, reported PTI. In his new role, Agrawal will head the finance team in the Indian subcontinent and will also be responsible to lead talent development for finance functions within Philips India, the company said in a statement.

Agrawal, who has been working wi

SMS Pharmaceuticals gets EIR for Bachupally facility

SMS Pharmaceuticals today said it has received establishment inspection report (EIR) from the US health regulator for its Bachupally facility in Hyderabad, reported PTI. The company's manufacturing facility at Bachupally, Hyderabad, has received EIR from the United States Food and Drug Administration (USFDA), SMS Pharmaceuticals said in a filing to the BSE.

"The facility was

Sensex, Nifty clock all-time closing highs; Reliance Industries gains

 Indian shares hit record closing highs on Monday for a fourth straight session led by Reliance Industries, while Oil and Natural Gas Corp gained after a deal to buy a majority stake in a state-run refiner.

The broader NSE Nifty closed up 0.66 percent at 10,966.20 while the benchmark BSE Sensex ended 0.81 percent higher at 35,798.01.

Reliance rose as much as 4.6 percent

Reliance Insurance signs pact with Bank of Maharashtra

Private life insurer Reliance Nippon Life Insurance Co Ltd on Monday said it has signed a comprehensive bancassurance agreement with rhw public sector Bank of Maharashtra.

In a statement here, Reliance Nippon Life said: "This partnership is aimed at enhancing the bank's customer proposition and positioning the bank as the most preferred financial services supermarket. Th

HPCL may acquire MRPL in cash, share-swap deal

HPCL may acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) in a cash and share- swap deal to become India's third-largest oil refiner, a top official said.Oil and Natural Gas Corp (ONGC), India's biggest oil and gas producer, last week announced acquisition of HPCL for Rs 36,915 crore.

After this takeover, ONGC has two refining subsidiaries - HPCL and MRPL."If MRPL

Veeam names Bhambure as MD for India, SAARC

 IT company Veeam Software on Monday appointed Sandeep Bhambure as the Managing Director for India and SAARC operations.

Bhambure will lead Veeam's business operations in India and will be responsible for market development, expand solutions offerings to customers and further strengthen partner network.

"As a fast growing software company, Veeam is in a good po

SpiceJet launches `Great Republic Day Sale``

Budget passenger carrier SpiceJet on Monday said it has launched its "Great Republic Day Sale" with one-way fares starting as low as Rs 769 and Rs 2,469 for travel to select destinations on its domestic and international network respectively.

According to the airline, the four-day sale launched on Monday would be open till January 25 while the travel period covered woul

Infosys to boost Hong Kong-based ASW`s digital transformation

Infosys on Monday announced a strategic partnership with Hong Kong-based AS Watson Group (ASW), an international health and beauty retailer, to accelerate ASWs digital transformation initiatives.

As part of the collaboration, Infosys would provide technology services across data science and Artificial Intelligence (AI) to ASW.

"We will leverage our vast experi

Axis Bank profit rises as bad loan additions slow, shares up

Axis Bank Ltd, India's third-biggest private sector lender by assets, reported a 25 percent rise in quarterly net profit on higher interest and fee incomes as well as a sharp slowdown in bad loan additions.

Shares in company rose as much as 5.3 percent to a more than one-year high as investors cheered the results that showed Axis added only 44.28 billion rupees of bad loans in the

ONGC shares rise on deal to buy majority stake in HPCL

By Promit Mukherjee and Jessica Kuruthukulangara

MUMBAI - Shares of Oil and Natural Gas Corp Ltd jumped as much as 6.3 percent on Monday after the explorer said it would buy a majority stake in refiner Hindustan Petroleum Corp Ltd for a smaller premium than expected.

The gains, which took ONGC's shares to their highest in nearly one year, came after Indi

Jubilant Foodworks Q3 net profit zooms 230.60% at Rs 66.02 cr

The company reported standalone net profit of Rs 66.02 crore for the quarter ended December 31, 2017 as compared to Rs 19.97 crore in the same period last year, registering a year-on-year growth of 230.60 per cent. Net revenue of the company rose substantially by 20.71 per cent at Rs 795.17 crore in October-December quarter of this fiscal as against Rs 658.76 crore in the corresponding period l

Kansai Nerolac Paint Q3 net profit up 0.96% at Rs 125.15 cr

The company reported standalone net profit of Rs 125.15 crore for the quarter ended December 31, 2017 as compared to Rs 123.96 crore in the same period last year, registering a year-on-year growth of 0.96 per cent. Net revenue of the company rose moderately by 13.35 per cent at Rs 1,139.27 crore in October-December quarter of this fiscal as against Rs 1,005.06 crore in the corresponding period

ITC Q3 net profit up 16.76% at Rs 3090.20 cr

The company reported standalone net profit of Rs 3,090.20 crore for the quarter ended December 31, 2017 as compared to Rs 2646.73 crore in the same period last year, registering a year-on-year growth of 16.76 per cent.

Net revenue of the company rose marginally by 4.59 per cent at Rs 9,672.57 crore in October-December quarter of this fiscal as against Rs 9,248.39 crore in the correspo

Apollo Micro Systems lists with 74% premium

Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, today got listed at Rs 478 with a premium of 74 per cent over its issue price of Rs 275 on BSE, reported PTI. Within minutes of listing, the stock surged to an early high of Rs 479.95. It was trading at Rs 454.10, up by 65.13 per cent compared to the issue price, on BSE at 1115hrs.

On the volume front,

Radio City launches `Radio City Cine Awards Marathi`

Music Broadcast Limited has said that Radio City, India’s leading radio network, has announced, Radio City Cine Awards Marathi, to applaud talent of the artistes and technicians of the Marathi film fraternity. Post a successful response of over 2 cr in Telugu, Kannada, Tamil, Radio City is all set to create a benchmark for its only listener choice award, Radio City Cine Awards Marathi.

Technofab Engineering bags 2 new orders worth Rs 205 cr

Leading engineering firm, Technofab Engineering has said that it has received two new orders worth Rs 205 Crores from Public Utilities Corporation, Seychelles. The projects are in the waste water sector and are funded by European Investment Bank.

With this the order backlog increases to Rs 2200 Cr., which is an all time high. It also enhances the Company’s standing as a signific

Sensex marks new high; ONGC leads gains

By Jessica Kuruthukulangara

Indian equity indexes hit all-time highs on Monday as Reliance Industries rallied after posting a record quarterly profit, while Oil and Natural Gas Ltd gained after saying it would buy a majority stake in Hindustan Petroleum Corp Ltd.

ONGC shares jumped as much as 6.3 percent to their highest in nearly a year after the explorer said it would buy

Earnings, oil prices to drive equity markets

The Indian equity markets are expected to be influenced by the ongoing earnings result season, along with F&O expiry next week, experts opined.

Besides Q3 earnings, global crude oil prices and the flow direction taken by the foreign funds are expected to act as other major triggers, said market observers.

"For the next week the focus again will be on earnings and gl

All financing options open for HPCL deal: ONGC

Exploration major ONGC on Sunday said that "all options" including internal accrual of resources and short term borrowing were available to fund its acquisition of HPCL.

"We have various options available with us to fund this transaction," Sudhir Vasudeva, Chairman and Managing Director of ONGC, told a press briefing here.

"There is an option of inte

ONGC to buy 51% stake in HPCL, government to exceed divestment target

 State-run ONGC will acquire the government's 51.11 per cent equity share-holding in HPCL for Rs 36,915 crore, helping it exceed its divestment target for the current financial year.

The stake sale would also help the government boost state revenue and bridge the fiscal deficit at a time when shortfall in GST collections led to India's fiscal deficit for the first ei

ONGC to buy majority stake in refiner HPCL for $5.78 billion

NEW DELHI - India's biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government's majority stake in state-refiner Hindustan Petroleum Corp for 369 billion rupees ($5.78 billion), ONGC said on Saturday.

It will pay a premium of about 14 percent on HPCL's current market price for the 51.1 percent stake, the company said in a statement to the stock excha

BSE to launch e-mandate facility to reduce SIP registration time

 Stock exchange major BSE on Friday said it will introduce e-mandate facility on its Mutual Fund distribution platform -- BSE StAR MF -- from Saturday in order to reduce the time taken for Systematic Investment Plan (SIP) registration.

"This is completely paperless framework that will reduce the time taken for mandate approval to three days from 10 to 35 days taken for paper