Securities Appellate Tribunal stays IRDAI`s order on Sahara India Life Insurance

The Securities Appellate Tribunal (SAT) on Monday provided one week relief to Sahara India Life Insurance Company Ltd against the order of insurance regulator IRDAI transferring its life insurance policy portfolio of ICICI Prudential Life Insurance Company Ltd.

In a statement, Sahara India Life said SAT, condemning the order of Insurance Regulatory and Development Authority of India (

JK Paper`s Q1 net profit zooms 125%

Paper manufacturer JK Paper on Monday said its net profit after tax (PAT) zoomed by 125 per cent for the first quarter (Q1) ended June 30.

The company said its PAT for the quarter under review stood at Rs 60.11 crore -- up 125.46 per cent -- from Rs 26.66 crore reported during the corresponding period of last year.

According to the company, its total income from operations r

India raises concerns around Chinese firm Fosun`s takeover of Gland: source

 India has privately raised objections to Chinese firm Shanghai Fosun Pharmaceutical Group's proposed $1.3 billion takeover of Indian drugmaker Gland Pharma, a source familiar with the matter said on Monday.

The deal has won the approval of the Competition Commission of India (CCI) and India's Foreign Investment Promotion Board (FIPB) in the last few months, but some in t

Essar Shipping posts Quarterly result net loss of Rs 57.80 cr

Net revenue of the company declined marginally by 2.68 per cent at Rs 169.74 crore for the quarter ended June 30, 2017 as against Rs 174.41 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 16.00 per cent to Rs 128.39 crore from Rs 110.68 in year ago period. Other Income grew by 62.75 per cent at Rs 18.26 crore versus (Jun'16 Rs 11.22 crore

Reliance Power clocks Rs 231 crore net profit in Quarterly result

Reliance Power, a Reliance Group company, posted net profit of Rs 231 crore for the April-June quarter of 2017-18, a company statement said on Monday.

The company had posted net profit of Rs 340 crore for the corresponding quarter in 2016-17.

The total income of the company stood at Rs 2,752 crore for the first quarter of 2017-18 compared to Rs2,749 crore during th

Eight core industries`output slows down in June

Production in India's eight major industries slowed down during June, as the total output inched up by only 0.4 per cent as against a rise of 4.1 per cent in May 2017, official data showed on Monday.

The Eight Core Industries (ECI) data which represents the output of major industrial sectors like coal, steel, cement and electricity grew by seven per cent in the corresponding

India`s infrastructure output grows 0.4 percent in June - government

NEW DELHI - India's annual infrastructure output nudged up 0.4 percent in June, crimped by a contraction in production of coal, cement and refinery products, government data showed on Monday.

The output grew a revised 4.1 percent year-on-year in May. During the April-June period, it grew 2.4 percent from a year ago, data showed.

Coal output contracted 6.

Birla Corporation to invest Rs 2,400 crore for clinker plant in Maharashtra

Birla Corporation Ltd, a part of MP Birla Group, is planning to invest Rs 2,400 crore for setting up a four million-tonne clinkerisation unit with a grinding facility at Mukutban in Maharashtra, a top company official said on Monday.

"We are looking to set up a four million-tonne clinker plant with a grinding unit. Hopefully, the investment would be Rs 2,400 crore. It has to be a

Shriram Transport posts Rs 448 crore net

 Non-banking finance company Shriram Transport Finance Company Ltd on Monday said it closed the first quarter with a net profit growth of 19.94 per cent.

In a statement issued here, the company said that its profit after tax increased to Rs 448.68 crore for the quarter ended June 30, 2017, up from Rs 374.10 crore earned during the corresponding period previous year.
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Carborundum Universal net profit flat at Rs 40 crore

City-based Carborundum Universal Ltd, a major in abrasives, ceramics and other products, said on Monday that it closed the first quarter of the current fiscal with a flat net profit on higher sales.

In a statement here, the company said its consolidated gross sales went up by three per cent to Rs 540 crore for the quarter ended June 30, 2017 as against Rs 526 crore posted for the

Tech Mahindra first-quarter profit rises beats estimates

Tech Mahindra Ltd, India's fifth biggest software services exporter, reported a better than expected 7 percent rise in first-quarter profit on Monday, helped by new clients for its digital services business.

The company said it added 21 active clients in the three months to the end of June, taking the total active client count to 864.

Its profit for the period was 7.99 b

IndiGo owner Quarterly result profit rises 37 percent

InterGlobe Aviation Ltd, owner of India's largest airline IndiGo, posted a 37 percent increase in quarterly profit on Monday, helped by higher passenger revenue.

The company said its profit was 8.11 billion rupees ($126.42 million) in the first quarter ended June 30, compared with 5.92 billion rupees a year earlier. http://bit.ly/2uMvkZB

Passenger revenue rose 27.9 perce

Sensex, Nifty at new closing highs, rate cut hopes buoy sentiments

Key Indian equity indices closed at new highs on Monday cheered by hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI), coupled with expectations of healthy quarterly results.

Investors' sentiments were also buoyed by broadly positive global cues and intense buying activities in banking, consumer durables and capital goods stocks.

Sensex ends at record closing high; SBI top gainer

Indian shares ended at a record closing high on Monday led by State Bank of India after the nation's biggest lender cut deposit rates on the majority of its savings accounts while investors awaited a rate cut by the central bank later this week.

The broader NSE Nifty closed up 0.63 percent at 10,077.10, a record closing high, and notched up a monthly gain of 5.84 percent.

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BNK Capital Mark Quarterly result net profit zooms 325.00% at Rs 0.34 cr

Net revenue of the company rose substantially by 84.48 per cent at Rs 1.07 crore for the quarter ended June 30, 2017 as against Rs 0.58 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 84.85 per cent to Rs 0.61 crore from Rs 0.33 in year ago period. Other Income grew by 500.00 per cent at Rs 0.06 crore versus (Jun'16 Rs 0.01 crore).

Sintex Industries reports turnaround in Quarterly result on robust sales growth

Sintex Industries, the world largest producer of plastic water tank, has reported consolidated net profit of Rs 34.88 crore during the first quarter ended June 30, 2017, helped by strong growth in revenue and other income. “The company had registered consolidated net loss of Rs 1.15 crore in the April-June quarter of the previous fiscal, Sintex Industries said in a filing to the Bombay St

Balrampur Chini Quarterly result net profit up 8.40% at Rs 120.00 cr

Net revenue of the company rose substantially by 37.45 per cent at Rs 1,136.45 crore for the quarter ended June 30, 2017 as against Rs 826.83 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 45.03 per cent to Rs 929.73 crore from Rs 641.08 in year ago period. Other Income grew by 31.07 per cent at Rs 6.96 crore versus (Jun'16 Rs 5.31 crore

Control Print Quarterly result net profit up 27.68% at Rs 8.58 cr

Net revenue of the company rose substantially by 35.50 per cent at Rs 45.00 crore for the quarter ended June 30, 2017 as against Rs 33.21 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 28.11 per cent to Rs 31.63 crore from Rs 24.69 in year ago period. Other Income grew by 0.00 per cent at Rs 0.25 crore versus (Jun'16 Rs 0.00 crore).

Micromax unveils`Selfie 2` smartphone at Rs 9,999

Domestic smartphone maker Micromax on Monday unveiled a new selfie-centric smartphone 'Selfie 2' in India that sports an 8MP front camera and is priced at Rs 9,999.

The device also comes with 13MP rear camera with 'Sonyu' sensors and and a front flash.

The device is powered by MediaTek MT6737 Quad-core processor, coupled with 3GB RAM and 32 GB inter

Snapdeal calls off sale to Flipkart, to pursue independent path

By Sankalp Phartiyal and Nivedita Bhattacharjee

MUMBAI/BENGALURU  - India's Snapdeal said it had decided to remain independent and was ending all talks regarding a sale, bringing the curtain down on months of discussions around a possible acquisition of the e-commerce firm by bigger rival Flipkart.

The failure to forge a deal is a setback for SoftBa

Punjab, Maharashtra warn cotton farmers on potential pest attacks

NEW DELHI  - Two Indian states have asked cotton farmers to step up pesticide sprays to ward off potential harmful bug attacks as dry weather conditions in some parts of the country risk triggering infestations of pests like plant-eating whitefly.

Despite plentiful rains in most parts of the country, monsoon has been patchy in some areas of Punjab and Maharashtra

Wipro`s arm releases latest version of NetOxygen v5.0

Leading IT company, Wipro Limited has said that its arm Wipro Gallagher Solutions released the latest version of its Loan Origination System, NetOxygen v5.0. “NetOxygen v5.0 provides users such as loan officers, processors and administrators with more simplified innovation and configuration tools to meet lenders' evolving needs and support next-gen lender transformation,” the IT

NHPC completes synchronization of Unit I of Parbati HE Proj

NHPC said that it has successfully completed synchronization of Unit - I of Parbati HE Project, Statge-2 (800MW) in Himachal Pradesh. “Synchronization of Unit # I of Parbati HE Project, Statge-2 (800MW) in Himachal Pradesh on part load has been achieved successfully at 10:53 PM on 29.07.2017,” the company said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the compan

Alembic Pharma gets USFDA nod for anti-bacterial drug

Drug firm Alembic Pharmaceuticals has received the US health regulator's nod for anti-bacterial Doxycycline capsules. "The company has received approval from the United States Food and Drug Administration (USFDA) for its ANDA for Doxycycline capsules USP 75 mg and 100 mg," Alembic Pharmaceuticals said in a BSE filing today.

The approved Abbreviated New Drug Application (

Boeing expects India to order up to 2,100 aircraft over 20 years

NEW DELHI  - Boeing Co said on Monday it expects Indian airlines to order up to 2,100 new aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia's third-largest economy.

India is one of the world's fastest-growing aviation markets with domestic passenger traffic growing at more than 20 percent a year over the las