Positive global indices, rupee appreciation lift equities

Positive global indices, coupled with rupee appreciation and hopes of budgetary incentives, lifted the Indian equities markets on Tuesday.

Healthy buying was witnessed in the automobile, metal and banking stocks which boosted the key indices to provisionally close with gains of around a per cent each.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 84.3

New rural housing scheme gets cabinet nod

The cabinet on Tuesday approved a new housing scheme to provide interest subsidy for loans up to Rs 2 lakh for construction of new houses or renovation of existing ones in rural areas.

The decision to improve "housing stock and create employment opportunities in rural housing sector" was taken at a cabinet meeting here chaired by Prime Minister Narendra Modi, an official sta

Demonetisation triggers 30.5% drop in smartphone sales: IDC

Owing to demonetisation and subsequent cash crunch, smartphone sales fell by a whopping 30.5 per cent (month-on-month) in November over the October festive season, market research firm International Data Corporation (IDC) revealed on Tuesday.

Indian vendors were hit most due to demonetisation with a drop of 37.2 per cent in November as compared to Chinese players with 26.5 per cent dr

Tata Communications net jumps over 12-fold in December-quarter

Leading telecom services provider Tata Communications Ltd has reported a jump of over 12-fold in its consolidated net profit after taxes (PAT) at Rs 1,412.88 crore in October-December quarter of 2016, on realisation from sale of its data centre.

“The consolidated net profit of the company stood at Rs 110.74 crore during the same period a year ago,” Tata Communications Ltd

Lupin unveils Generic Ortho-Cyclen® 28 tablets in US

Pharma major Lupin Limited (Lupin) said that it has launched its Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg having received approval from the United States Food and Drug Administration (FDA) earlier.

Lupin’s Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg are the AB rated generic equivalent of Janssen Pharmaceuticals, Inc.’s Ortho - C

Central Bank of India to buy back perpetual bonds worth Rs 500 cr

Public sector Central Bank of India will go for a premature buyback of 9.4 per cent perpetual bonds worth Rs 500 crore. The decision was taken at the lender's board of directors meeting held on Monday, the bank said in a filing to the Bombay Stock Exchange.

"The Board of Directors of the Bank at their meeting held on January 23, 2017 considered and approved the proposal for p

HCL retains double-digit revenue growth outlook

Global software major HCL Technologies Ltd has retained its annual double-digit revenue growth for fiscal 2016-17 in dollar terms.

In a regulatory filing to the stock exchanges, the Noida-based outsourcing firm said revenue for this fiscal (FY 2017) would grow 10-12 per cent in dollar terms based on the December 31 exchange rates.

"We expect our FY2017 revenue to be in

HDFC Bank third-quarter profit up 15 percent, beats estimates

MUMBAI - HDFC Bank Ltd, India's third-biggest lender by assets, on Tuesday reported a 15 percent rise in third-quarter net profit, above analyst estimates, due to higher interest and fee income.

Net profit was 38.70 billion rupees ($567.91 million) for the three months to Dec. 31, compared with 33.57 billion rupees reported a year ago, said HDFC Bank, India's

Asian Paints to expand paint manufacturing capacity in Gujarat

Asian Paints Ltd has said that it is planning to expand the existing paint manufacturing capacity at Ankaleshwar, Gujarat from 130,000 KL to 300,000 KL per annum. It is also planning to augment the manufacturing capacity of synthetic resins and emulsions from existing 32000 MT to 85000 MT (approx.).

The aforesaid expansion and augmentation would involve phasing out the current Phthali

JSW Energy Q3 net plunges 93% at Rs 21.39 cr

JSW Group flagship firm JSW Energy Ltd on Monday reported a sharp fall of 93.1 per cent in its consolidated net profit after taxes (PAT) at Rs 21.39 crore for the third quarter ended December 31, 2016, on lower generation and lower tariff. “The consolidated net profit of the integrated power company stood at Rs 309.25 crore during the same period a year ago,” JSW Energy Ltd said in

Coal India supply to power sector drop 3.6% to 288 MT

State-owned Coal India's fuel supply to the power sector dropped by 3.6 per cent to 288.2 million tonnes in the April-December period of the ongoing fiscal amid weak demand for the dry fuel.

According to official data, coal dispatches to the power sector in the same period of previous fiscal were 299.1 million tonnes (MT). CIL's coal supply in December also declined by 4.2 per

Ashoka Buildcon bags `Infra Company of the Year Award`

Ashoka Buildcon Limited has said in a filing to the Bombay Stock Exchange that it has been honoured with prestigious Award -"Infra Company of the Year Award" at the EPC World Awards held in Delhi.

Mr. Satish Parakh received the award by the hand of Mr. Mahendranath Pandey, Union Minister of State, Human Resource Development, in Presence of Mr. Udit Raj, MP and Mr. Pratip Cho

Sensex rises for second day; banks gain

By Darshana Sankararaman

Indian shares rose for a second consecutive session on Tuesday, as banking shares such as HDFC Bank gained ahead of results later in the day, while sentiment got a boost on optimism ahead of the annual budget to be unveiled next week.

The Supreme Court on Monday rejected a petition to delay the annual federal budget, which Finance Minister Arun Jaitl

Mistry replies on Tata Sons' 'counter-allegations'

Tata Sons' ousted Chairman Cyrus Mistry on Monday replied to the National Company Law Tribunal (NCLT) on the "counter-allegations" made by the holding company of the industrial conglomerate.

The replies came through an affidavit which was filed by Mistry's investment companies to the NCLT's Mumbai bench.

The rejoinder comes after Tata Sons had filed an

Asian Paints net profit up, hit by demonetisation

Paints major Asian Paints on Monday posted a marginal 1.5 per cent rise in consolidated net profit to Rs 489.31 crore in the quarter ended December 31, as compared to Rs 482.02 crore in the previous corresponding period.

On consolidation of accounts of the subsidiaries and associates of the company, income from operations in the quarter under review rose 2.6 per cent to Rs 4,353.99 cr

Suzlon wins 50.40 MW repeat order from power utility

Renewable energy solutions provider Suzlon Energy Ltd on Monday said it has got the repeat order of 50.40 MW from a leading power utility. “Suzlon wins 50.40 MW repeat order from a leading power utility,” the company said in a filing to the Bombay Stock Exchange on January 23, 2017. The project consists of 24 units of S97 120m hybrid tower with a rated capacity of 2.1 MW and located

Strong rupee, budgetary expectations lift equities

Rupee appreciation, coupled with hopes of positive incentives in the upcoming Union Budget and broadly positive Asian indices, lifted the Indian equities markets on Monday.

The key indices provisionally closed in the positive territory, as healthy buying was witnessed in metal, automobile and oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) r

Global semiconductor revenue to grow 7.2% in 2017: Gartner

Worldwide semiconductor revenue is set to hit $364.1 billion in 2017, an increase of 7.2 per cent from 2016, representing a turnaround for the industry as it experienced 1.5 per cent growth in 2016, market research firm Gartner said on Monday.

Gartner has increased the outlook for 2017 by $14.1 billion in its most current forecast, of which the memory market accounts for nearly $10 bi

NECC bags Rs 400 cr contract from Tata Steels

North Eastern Carrying Corporation Ltd (NECC), hire top goods transport & logistics company, on Monday said it has received a contract about Rs 400 crore from Tata Steels Ltd for bulk movement of its raw materials from its mines in Orissa.

“The company has been awarded contract of worth Rs 400 crore from Tata Steels Limited for bulk movement of its raw materials from its min

RCFL issues commercial paper worth Rs 180 cr

Rashtriya Chemicals and Fertilizers Ltd said that it has issued commercial paper for Rs 180 crore in favour of State Bank of India. “In terms of the guidelines issued by the Reserve Bank of India, the Company has issued Commercial Paper for Rs.180 Crore on January 23, 2017, in favour of State Bank of India,” it said in a filing to the Bombay Stock Exchange.

The commercial

Amara Raja Batteries Q3 PAT dips 18% at Rs 112.32 cr

India's leading battery major Amara Raja Batteries Ltd has reported a fall of 17.9 per cent in its standalone net profit after taxes (PAT) at Rs 112.32 crore for the third quarter ended December 31, 2016, on higher expenses.

“The standalone PAT of the company stood at Rs 136.82 crore during the same period a year ago,” Amara Raja Batteries Ltd said in a filing to the B

Suven Life Sciences gets a product patent in Australia

Drug maker Suven Life Sciences Ltd on Monday said it has secured a product patent for its New Chemical Entities (NCEs) from Australia for the treatment of disorders associated with Neurodegenerative diseases. “Suven Life Sciences secures a product patent in Australia,” the company said in a filing to the Bombay Stock Exchange on January 23, 2017.

The patent is valid throug

Karnataka Bank contributes in installing water treatment plant

Leading private bank, Karnataka Bank Ltd has informed in a filing to the Bombay Stock Exchange that it has contributed towards installing waste water treatment plant at Sri Guru Narasimha Temple, Saligrama. The Karnataka Bank Limited is a major banking institution based in the coastal city of Mangaluru in Karnataka, India.

The Reserve Bank of India has designated Karnataka Bank as an

Tata Communication`s arm invests in Teleena Holding

Leading telecom company, Tata Communications Ltd has informed in a filing to the Bombay Stock Exchange that Tata Communications (Netherlands) B.V., a wholly owned indirect subsidiary of Tata Communications Limited, has made an investment in Teleena Holding B.V. (Teleena) (a mobile virtual network enabler headquartered in the Netherlands) on January 20, 2017 as part of Tata Communications’

United Spirits net jumps over 3-fold to Rs 147.7 cr in December-quarter

Country’s largest alcoholic beverages company United Spirits Ltd has reported a growth of over three-fold in its standalone net profit after tax at Rs 147.7 crore during the third quarter ended December 31, 2016, supported by lower finance costs and exceptional expense in the corresponding period last year.

“The standalone net profit after taxes of the Diageo Plc controlle