India`s BHEL fourth-quarter profit falls 57 percent, misses estimates

 State-run power equipment maker Bharat Heavy Electricals Ltd reported a 57 percent fall in fourth-quarter net profit on Monday, missing analysts' estimates.

Net profit was 2.16 billion rupees ($33.47 million) in the quarter ended March 31, compared with 5.06 billion rupees a year earlier. 

Analysts on average had expected a quarterly profit of 5.82 billion rup

Coal India March-quarter profit falls 38 percent, misses estimates

 State-run Coal India Ltd reported a lower-than-expected fourth-quarter consolidated profit, hurt by higher costs.

Consolidated profit fell 38 percent to 27.16 billion rupees ($421.18 million) in the quarter ended March 31, from 43.98 billion rupees a year earlier, the company said on Monday. 

Analysts on average had estimated a consolidated profit of 38.20 billion

Larsen & Toubro fourth-quarter profit rises 28 percent, beats estimates

Engineering giant Larsen & Toubro Ltd reported a 28 percent rise in consolidated net profit for the March quarter, beating market estimates, with the infrastructure segment generating higher revenue.

Fourth-quarter profit was 31.80 billion rupees ($493.00 million), compared with a profit of 24.82 billion rupees a year earlier, while total income from operations rose 12 percent to

Oil India fourth-quarter profit falls 96 percent on one-time charge

State-run Oil India Ltd posted a 96 percent fall in fourth-quarter profit, hurt by a one-time charge realised on the pre-discount and post-discount price of crude oil paid to a state government.

Net profit was 193.1 million rupees ($2.99 million) in the quarter ended March 31, compared with 4.70 billion rupees a year earlier, the company said on Monday. http://bit.ly/2rwSDXf

Sensex, Nifty hit record closing highs; Reliance Communications falls

By Krishna V Kurup

 India's benchmark BSE Sensex edged higher to a record close for a third consecutive session as consumer goods stocks gained, but broader advances were capped by falls in companies that posted weak results such as Reliance Communications .

The BSE Sensex gained 0.26 percent to hit a record close of 31,109.28 points.

Meanwhile, the broade

Tata Power becomes India`s largest integrated solar company

Tata Power Solar, India's largest integrated solar company, has said that the company has ramped up the scale of business substantially by focusing on building state of art technology, engineering and strengthening on customer & employee satisfaction.

Tata Power Solar increased its revenue by more than two and a half times in just two years to reach Rs. 2262 crore. “The

Finance Minister pitches for disinvestment of loss-making Air India

Finance Minister Arun Jaitley has favoured disinvestment of the loss-making Air India, saying the airline's market share is just around 14 per cent whereas the debt burden is Rs 50,000 crore, reported PTI.

This is the clearest indication yet from the current NDA regime on possible stake sale in Air India, which is staying afloat on taxpayers' money. Air India's market shar

Vijaya Bank to raise Rs 1,000 cr to fund business expansion

Vijaya Bank will raise Rs 1,000 crore within a year to create buffer as per global capital adequacy norms, Basel III, and to fund business expansion, reported PTI. The board of directors of the bank will put up the matter before shareholders at the annual general meeting (AGM) on June 23.

Consent will be sought from shareholders to create, offer and issue equity shares to qualified in

NIIT Tech appoints Sudhir Singh as CEO Designate

IT solution company NIIT Technologies on Monday said it has appointed Sudhir Singh as CEO designate. “He joins the company from Genpact where he was the Chief Operating Officer of the IT Services & Capital Markets Business.

He played a key role in the acquisition and subsequent integration of Headstrong Technologies between 2012-2014 as Sr. VP and Managing Director of the in

Fitch affirms Bharti Airtel credit rating at BBB

Credit rating firm Fitch affirmed Bharti Airtel's long-term foreign currency issuer default rating at 'BBB' with stable outlook, reflecting the firm's ability to repay debt, reported PTI.

"Fitch Ratings has affirmed Bharti Airtel's (Bharti) long-term foreign currency issuer default rating (IDR) and senior unsecured rating at 'BBB'. The outlook on the I

RBI restricts FIIs investment in The Byke Hospitality

The Reserve Bank of India on Friday restricted fresh foreign investment in The Byke Hospitality as shareholding has touched the threshold limit.

“The foreign shareholding through Foreign Institutional Investors (FIIs) in The Byke Hospitality has reached the trigger limit,” the RBI said in a notification.

Hence further purchases of equity shares of this company wo

Adani Power posts Q4 net loss at Rs 4,960.53 cr

Ahmedabad-based Adani Group arm Adani Power Ltd has reported its consolidated net loss at Rs 4,960.53 crore for the fourth quarter ended March 31, 2017, due to non-recognition of compensatory tariff (CT) for Mundra plant, following the judgement by the Supreme Court regarding the matter.

“The consolidated net profit of the company stood at Rs 1,012.19 crore during the same perio

Punj Lloyd March quarter net loss narrows to Rs 181.58 cr

Diversified EPC conglomerate Punj Lloyd Ltd has reported its standalone net loss narrowed to Rs 181.58 crore in the January-March quarter of FY17, helped by surge in its revenue. The standalone net loss of the company stood at Rs 396.15 crore during the same period a year ago, said Punj Lloyd Ltd in a filing to the Bombay Stock Exchange.

Further, its standalone total income from opera

Jaypee Infratech Q4 net loss widens to Rs 667.55 cr

Realty major Jaypee Infratech Ltd has reported its standalone net loss widened to Rs 667.55 crore for the fourth quarter ended March 31, 2017. “The standalone net loss of the company stood at Rs 183.39 crore during the same period a year ago,” said Jaypee Infratech Ltd in a filing to the Bombay Stock Exchange.

Further, its standalone total income from operations reversed i

NTPC posts 25.5 percent fall in fourth-quarter profit on one-off charge

State-controlled utility NTPC Ltd  reported a 25.5 percent fall in quarterly profit after taxes, hurt by higher expenses and a one-off charge on impairment loss on investment.

Net profit was 20.79 billion rupees ($322.31 million) in the quarter ended March 31, compared with 27.93 billion rupees a year earlier, the company said on Monday. http://bit.ly/2rMWCi8

The compan

India clarifies tax on solar power equipment, parts at 5 percent

By Sudarshan Varadhan

NEW DELHI  - India will levy a 5 percent tax on all equipment required for generating solar power compared with nil duty now, a government official clarified, putting an end to confusion about the new taxation policy for the industry after its landmark tax reform.

"All solar equipments and its parts would attract 5 percent GST

Reliance Communications shares hit record low on fourth-quarter loss, debt woes

MUMBAI  - Shares in mobile carrier Reliance Communications Ltd fell as much as 20 percent to an all-time low on Monday, after it reported a $150 million fourth-quarter loss and worries about its heavy debt load resurfaced.

The company, controlled by billionaire Anil Ambani, over the weekend posted its second straight quarterly loss, dragged down by a price war in

Real estate firm Omaxe Q4 net profit falls 55%

 Real estate company Omaxe Ltd. on Sunday announced a 55 per cent fall in its consolidated net profit for the fourth quarter ended March at Rs 12.98 crore, compared with Rs 29.03 crore in the same period of 2015-16.

Consolidated income from operations during the said quarter, however, increased 20 per cent to Rs 451.92 crore, from Rs 376.11 crore in the corresponding period

Indraprastha Gas Ltd. Q4 net up 23% on higher sales

The state-run Indraprastha Gas Ltd (IGL) supplying cooking gas and vehicle fuel to Delhi, Noida, Greater Noida and Ghaziabad has reported a 23 per cent rise in net profit for the fourth quarter ended March at Rs 133.5 crore, buoyed by better turnover and sales.

The supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the National Capital Region had posted a net

Reliance Communication`s Q4 consolidated revenues at Rs 4,524 cr

 Reliance Communications' consolidated revenues for the fourth quarter of 2016-17 stood at Rs 4,524 crore, down 8.1 per cent, a company statement said here on Saturday.

The earnings before interest, tax, depreciation and amortization (EBITDA) margin declined to 24 per cent, compared to 24.5 per cent in the quarter before, the statement said.

The statement

Rates and results to guide equity markets

Macro-economic data points, along with quarterly results and a decision on the Goods and Services Tax (GST) sub-rates on gold, will form the major themes for the Indian stock markets during the upcoming week, market observers say.

Already at dizzying heights, potential triggers like news on monsoon progress, global geo-political situation and crude oil prices could unleash "

Reliance Communications hit by Indian mobile price war

By Sankalp Phartiyal

MUMBAI - Indian mobile phone network operator Reliance Communications Ltd posted its second straight quarterly loss on Saturday, hit by the price war which has broken out in the world's second-biggest mobile market by number of users.

The launch last year of rival Reliance Industries' new Jio 4G broadband service with free voice

Fairfax Financial to sell 12.2 percent of ICICI Lombard

MUMBAI - Canada's Fairfax Financial Holdings plans to sell a 12.2 percent stake in its Indian joint venture insurer ICICI Lombard in a deal that will value the company at 203 billion rupees ($3.15 billion), the Indian company said on Saturday.

Red Bloom Investment Ltd, a company wholly owned by private equity investment funds managed by Warburg Pincus, is buying a

Adani Power's consolidated Q4 net loss at Rs 4,960.53 cr

 Adani Power on Saturday reported a consolidated net loss of Rs 4,960.53 crore for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net loss during the quarter under review stood at Rs 4,960.53 crore from a profit of Rs 1,021.19 crore in the corresponding period of 2015-16.

The consolidated net profit for the quarter was hit by th