ITC Infotech offers AR solution for connected service

ITC Infotech on Monday collaborated with Internet of Things (IoT) and Augmented Reality (AR) platform provider PTC and software major Oracle to offer a solution for connected service aimed at improving self, assisted and field services for industries.

The "Augmented Reality for Connected Service" solution will help customers improve growth while also enabling them to ex

Bank of India posts Q4 loss of 10.46 bln rupees

 Bank of India Ltd, the country's sixth-biggest lender by assets, reported a fourth-quarter net loss of 10.46 billion rupees ($162.08 million) as provisions for bad loans remained high.

Net loss for the quarter ended March 31 narrowed from a loss of 35.87 billion rupees a year earlier, the Mumbai-based lender said in a statement on Monday. (http://bit.ly/2rJJyGt)

An

Sensex, Nifty inch up as consumer stocks rally; ITC leads

By Krishna V Kurup

 - Indian shares edged higher on Monday, with consumer stocks such as ITC Ltd leading, as investor sentiment got a boost after the government last week finalised rates for the upcoming goods and services tax.

The government on Friday unveiled four rate bands under the Goods and

Bengal Chemicals hopes to clear all debts by 2017-18

Bengal Chemicals and Pharmaceuticals Ltd. hopes to clear its existing debts through improvement of cash generation and sale of surplus land by end of the 2017-18 Fiscal Year, a top company official said on Sunday.

The state-run pharmaceuticals company has an outstanding debt of Rs 200 crore from the Centre and Rs 13 crore debt from the public sector lender United Bank of India (UBI).

India announces policy for strategic partnerships in defence

MUMBAI  India on Saturday finalised a policy that would allow local private companies to work with foreign players to make high-tech defence equipment, in a boost to Prime Minister Narendra Modi's bid to cut reliance on imports.

The policy, whose finer details are still to be formalised, will initially allow the entry of private companies into the manufacture

Bombay Stock Exchange to add Kotak Mahindra, Tata Motors DVR to benchmark index

MUMBAI   India's Bombay Stock Exchange said that it will be adding two stocks - Kotak Mahindra Bank Ltd and Tata Motors DVR Ltd - to its benchmark index from June 19.

State-owned gas transmission company Gail Ltd will make way for the two stocks in the benchmark index, the exchange said in a statement on Friday.

On Friday, the benchmark BSE ind

Karur Vysya Bank Q4 net clocks 58% at Rs 217.56 cr

Private sector lender Karur Vysya Bank Ltd has reported a growth of 57.7 per cent in its standalone net profit at Rs 217.56 crore for the fourth quarter ended March 31, 2017. The bank had posted a net profit of Rs 138 crore in corresponding quarter of previous fiscal, said Karur Vysya Bank Ltd in a filing to the Bombay Stock Exchange.

However, total income of the bank increased by 8.4

Capital First gets nod to raise funds on private placement basis

Capital First has received an approval for issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) of Rs 100 crore plus Green Shoe Option of Rs 300 crore on private placement basis.

The Debenture Committee constituted by the Board of Directors of the Company at its meeting held on May 19, 2017 approved for the same.

Capital First is an MSME and consume

State Bank of India rises on robust Q4 profit

Shares of State Bank of India grew nearly 2 per cent on the Bombay Stock Exchange (BSE) after the state-owned lender reported over two-fold jump in its net profit at Rs 2,814.82 crore for the March quarter. It had registered a standalone net profit of Rs 1,263.81 crore in the same period a year ago.

Cheering the bank’s performance in Q4, shares of the bank rose 1.91 per cent to

DB Corp Q4 profit up 6% at Rs 64.18 cr

Media firm DB Corp today reported 6.2 per cent increase in consolidated net profit at Rs 64.18 crore for the March quarter. The company had posted a net profit of Rs 60.43 crore during the same period of the previous fiscal, DB Corp said in a BSE filing.

Net sales of the company during the quarter under review stood at Rs 508.39 crore as against Rs 505.95 crore during the year ago per

Dwarikesh Sugar Q4 net profit down at Rs 46.82 cr

Dwarikesh Sugar Industries has reported net profit of Rs 46.82 crore in the fourth quarter ended March 31, down from Rs 52.82 crore posted in the same period of the last fiscal. Net profit in FY17 stood at Rs 158.47 crore, up 307 per cent from Rs 38.97 crore in FY16, the company said. Net operating income stood at Rs 440.84 crore in Q4FY17, a growth of 91 per cent in comparison to Rs 235.50 cro

Dr Reddy's sees no impact from pricing regulator notice

MUMBAI  Dr Reddy's Laboratories Ltd, India's second-largest drugmaker by sales, said it expects no impact from a recent government notice that said the company is selling a high blood pressure drug that lacks the pricing regulator's approval.

India's drug pricing regulator, the National Pharmaceutical Pricing Authority (NPPA), issued a show-cause

Equity markets close flat; banks, FMCG stocks gain

Sensex edged up on Friday after touching a record high, its fourth peak in five sessions, as profit-booking pared overall gains led by consumer stocks that rallied after rates for goods and services under a new tax were finalised.

The benchmark BSE Sensex closed up 0.10 percent at 30,464.92 after rising as much as 0.91 percent earlier in the session to its highest ever, while the broa

Reliance Jio gets TM Forum's 'Digital Service Innovator of the Year Award'

Reliance Jio has received TM Forum's 'Digital Service Innovator of the Year Award' 2017.

TM Forum is the industry association driving digital business transformation of the communications industry.

Reliance Jio got this award by acquiring 90 million customers in four months.

Digital Service Innovator of the Year Award is given to the company or organisa

Tata Power posts surprise Q4 loss on charge

Tata Power Co Ltd on Friday reported a fourth-quarter adjusted profit that missed analysts' estimates, as lower recovery on the cost of fuel at one of its major power plants and higher fuel costs hurt margins.

On an adjusted basis, excluding a one-time charge, the company posted an increase in consolidated net profit to 3.89 billion rupees for the quarter ended March 2017.

Auto sector likely to contribute 12% to GDP over next decade: Anant Geete

The central government on Thursday said the Indian automobile sector is likely to contribute 12 per cent to the country's GDP (gross domestic product) over the next decade.

This was stated by Union Heavy Industries and Public Enterprises Minister Anant G. Geete, who inaugurated the test track facility develop by global automotive research centre (GARC) at Oragadam, Chennai.&n

TCS begins buyback of 5.61 cr shares

Tata Consultancy Services Ltd (TCS) on Thursday commenced the buyback of its 5.6 crore shares for Rs 16,000 crore at Rs 2,850 per equity share of Re 1 face value, the global software major said on Thursday.

"The buyback period, which began on Thursday, will close on May 31. The letter of offer for the buyback of shares, being 2.85 per cent of the total paid-up equity share c

HUDCO shares surge 29 percent on trading debut

By Swati Bhat and Samantha Kareen Nair

MUMBAI/BENGALURU    Shares in India's Housing and Urban Development Corp Ltd (HUDCO) surged nearly 30 percent at their market debut on Friday as investors sought to buy into the property sector of a country where housing demand is among the highest in the world.

HUDCO is the first state-ru

Key Indian equity indices trade higher

By Arnab Paul

The benchmark BSE index rose as much as 0.9 percent to a record high on Friday, scaling an all-time peak for the fourth time in five sessions, as consumer goods makers surged after the government finalised rates for its upcoming goods and services tax (GST).

India set GST rates for more than 1,200 items on Thursday, and analysts said the outcome had largely ben

Bank of Baroda makes modest profit in March quarter

MUMBAI   Indian state-run Bank of Baroda on Thursday reported a fourth-quarter net profit of 1.55 billion rupees ($23.89 million).

The Mumbai-based bank, the fifth-biggest in the country by assets, had reported a net loss of 32.3 billion rupees in the year-ago quarter.

Analysts, on average, had expected the bank to report a net profit of 5.16 billi

RBI tweaks partial credit enhancement rules for issuers

MUMBAI   The Reserve Bank of India said on Thursday that companies must be rated by at least two credit rating agencies to be eligible to issue debt under the country's partial credit enhancement programme.

Partial credit enhancement allows low-rated corporates to obtain a guarantee from lenders when issuing debt, lowering the cost for issuers and attrac

Axis Bank reduces home loan rates by 30 bps

Following other prominent banks, the country's third largest private sector lender Axis Bank on Thursday announced 30 basis points (bps) reduction in its home loan interest rates to promote affordable housing finance.

"Taking forward its commitment towards affordable housing finance, the bank has revised its rates for home loans up to Rs 30 lakh for the salaried segment

Paytm raises $1.4 billion from SoftBank

By Sankalp Phartiyal

MUMBAI   Japan's SoftBank Group has invested $1.4 billion in the parent of Paytm, giving the digital payments start-up a boost as it looks to expand its user base and maintain its market lead in Asia's third-largest economy.

A source familiar with the matter said SoftBank had bought $1 billion of new shares in Paytm par

CESC announces business restructuring scheme

Power utility CESC Ltd announced a business restructuring scheme which is based on demerger of certain existing businesses, group's Chairman Sanjiv Goenka said on Thursday.

"This (the restructuring scheme) will lead to four entities focusing on generation, distribution, organised retail and other ventures," he said.

All four entities will be listed wi

Equity markets slip on weak global cues, auto stocks plunge

After three consecutive days of record highs during the week, the Indian equity markets slipped on Thursday tracking bearish global cues, a weak rupee and heavy selling pressure in automobile, capital goods and consumer durables stocks.

According to market observers, investors were also cautious over the ongoing two-day meet of the Good and Services Tax (GST) Council in Srinagar,