South Indian Bank Q4 net up 3.5% at Rs 75.54 cr

Private sector lender South Indian Bank on Monday reported a marginal growth of 3.52 per cent in its net profit at Rs 75.54 crore in the fourth quarter ended March 31, 2017, driven by increase in net interest income.

“The bank had posted net profit of Rs 72.97 crore during the corresponding quarter of the previous year,” said South Indian Bank in a filing to the Bombay Sto

Sensex ends at record closing high

Indian shares ended at a record closing high on Monday, after government data last week showed that consumer inflation in April eased to its lowest in at least five years, reviving a debate on whether the central bank should cut interest rates.

The benchmark BSE Sensex closed up 0.44 percent at 30,322.12. The broader NSE index ended 0.47 percent higher at 9,445.4.

(Reporting

ICICI Bank reduces home loan rates by 30 bps

 Private sector lender ICICI Bank on Monday said that it has reduced interest rates by up to 30 basis points (bps) for home loans of up to Rs 30 lakh.

"With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried women borrowers will get home loans at 8.35 per cent and others at 8.40 per cent," the private sector

Mining group Vedanta posts fourth-quarter profit helped by higher revenue

Vedanta Ltd  the Indian unit of diversified energy group Vedanta Resources PLC , reported a consolidated quarterly profit, as revenue surged, driven by improved commodity prices and higher zinc volumes.

Consolidated net profit stood at 29.88 billion rupees ($466.09 million) in the fourth quarter ended March 31, compared with a loss of 211.04 billion rupees a year earlier, the met

IT professionals must embrace machine learning skills: Report

Amid reports of lay-offs in the Indian IT landscape, IT professionals must go for acquiring new-age machine learning skills at a time when open source tools are now dominating the analytics landscape, a new report said on Monday.

According to a report released by Bengaluru-based analytics school Jigsaw Academy, acquiring analytics skills in the "Data Age" will boost car

HDFC Bank issues perpetual debt instruments worth Rs 8000 cr

HDFC Bank has said that it has issued unsecured Basel III compliant, Perpetual Debt Instruments in the nature of debentures for inclusion in Additional Tier I Capital amounting to Rs.8000 Crore.

“The bank has allotted on May 12, 2017 on a private placement basis 8.85% Unsecured, Subordinated, Fully Paid-Up, Non-Convertible, Basel III compliant, Perpetual Debt Instruments in the

Karnataka Bank Q4 profit clocks 30% at Rs 138.37 cr

Mangalore-headquartered private sector lender Karnataka Bank Ltd has reported a significant growth of 29.6 per cent in its standalone net profit at Rs 138.37 crore for the fourth quarter ended March 31, 2017.

The bank had posted standalone net profit of Rs 106.79 crore in the corresponding quarter of previous fiscal, said Karnataka Bank Ltd in a filing to the BSE.

Further, t

Central Bank of India net loss narrows to Rs 591.77 cr in Q4

Country’s one of the oldest and largest commercial lender Central Bank of India has reported that its standalone net loss narrowed to Rs 591.77 crore in the January-March quarter of FY 17. The bank had posted standalone net loss of Rs 898.04 crore in corresponding quarter of previous fiscal, said Central Bank of India in a filing to the Bombay Stock Exchange.

Total income of the

Jammu & Kashmir Bank Q4 loss widens to Rs 554.30 cr

Jammu & Kashmir Bank Ltd has reported that its net loss widened to Rs 554.30 crore in the January-March quarter of FY 17, on the back of rise in bad loans. It had posted standalone net loss of Rs 56.02 crore in the corresponding quarter of previous fiscal, said Jammu & Kashmir Bank in a filing to BSE.

Further, the total income of the bank remained almost flat at Rs 1,802.74 cr

GST sub-rates, earnings results to influence equity markets

 Clarity on GST sub-rates along with ongoing quarterly results season and a firm rupee are expected to influence investors' sentiments in the equity markets, market observers have opined.


According to analysts, the outcome of the GST Council's meet, slated to be held on May 18-19 in Srinagar, will be a "crucial determining" factor for indices' m

Amazon sale gets more customers in tier-2&3 cities

Leading e-tailer Amazon claimed it acquired more new customers from tier-2 and tier-3 cities across the country during its four-day 'Great Indian Sale' that concluded on Sunday.

"Our customers' acquisition drive in 2017 saw 235 per cent annual growth in tier-2 and tier-3 cities during the four-day sale since May 11," said the Indian subsidiary of the US-base

Sensex rises; 10-year bonds hit four-week high on easing inflation

MUMBAI  Indian shares rose on Monday, while the benchmark 10-year bond hit its highest in four weeks, after consumer inflation in April eased to its lowest in at least five years, reviving a debate on whether the central bank should cut interest rates.

Meanwhile, the rupee rose to 64.0275 per dollar, its strongest since April 27, on expectations of additional for

Monsoon rains reach Andaman islands early - weather office

MUMBAI    Monsoon rains, which are vital for farm output and economic growth in India, reached the country's Andaman and Nicobar islands on Sunday, six days ahead of schedule, the domestic weather office said in a statement.

Andaman and Nicobar, off India's eastern coast, are usually the first areas to receive the monsoon rains, typically around

India skips China's Silk Road summit, warns of 'unsustainable' debt

By Sanjeev Miglani

NEW DELHI   India has not sent an official delegation to attend the "Belt and Road Forum" in Beijing and instead criticised China's global initiative, warning of an "unsustainable debt burden" for countries involved.

Chinese President Xi Jinping is hosting dozens of world leaders and senior officials on Su

Idea posts net losses for Q4, FY 2017

Mumbai, May 13 (IANS) Telecom services provider Idea Cellular of the Aditya Birla Group on Saturday reported a net loss Rs 328 crore for the fourth quarter (Q4) and net loss of Rs 400 crore for fiscal 2016-17 (FY 2017) on standalone basis.

The net loss in Q4 is against Rs 452 crore standalone net profit posted for like period (Q4) a year ago and Rs 2,728 crore net pro

Idea Cellular posts second straight quarterly loss

By Sankalp Phartiyal

MUMBAI  - Idea Cellular Ltd, India's third-biggest telecoms operator, posted its second straight quarterly loss after a rival carrier's free services hit sales and eroded margins.

The free offerings of Reliance Industries' telecoms venture Jio, which started operations late last year, have sparked a fierce price war in t

Titan net up 7.5% in Q4; 9.2% in FY 2017

Titan Company Ltd on Friday reported a Rs 201 crore net profit for the fourth quarter (Q4) of fiscal 2016-17, registering 7.5 per cent year-on-year (YoY) growth from Rs.187 crore in the same period of the previous fiscal.

In a regulatory filing on the BSE, the city-based watches and jewellery maker said net profit for the fiscal under review (FY 2017) grew 9.2 per cent YoY to Rs.

L&T bags order to supply 100 guns to Army

 Indian engineering major Larsen and Tubro on Friday announced bagging an order to supply the Indian Army with 155 mm/52 calibre tracked mobile artillery guns.

"This win affirms L&T's position as India's leading private sector defence company with capabilities to design, develop and manufacture state-of-the-art platforms and systems for the Indian armed forc

Piramal looking to expand in real estate financing

By Zeba Siddiqui and Euan Rocha

MUMBAI- Indian conglomerate Piramal Enterprises said it is looking to expand its real estate development business and also expects to have a licence to start providing home mortgages by July.

The Mumbai-based group, whose interests range from pharmaceuticals to financial services and real estate financing in India's big ci

UCO Bank says RBI begins "corrective action" over high bad loans

MUMBAI  - The Reserve Bank of India (RBI) has initiated "prompt corrective action" for state-run UCO Bank over its high bad loans and negative return on assets, UCO said on Friday.

UCO, in a filing to the stock exchanges, said the action "will not have any material impact" on its performance, but did not give details of the corrective action.<

Nestle India posts 7 percent rise in March-quarter profit

Nestle India Ltd posted a near 7 percent rise in its March-quarter profit on Friday, helped by higher domestic sales.

Profit rose to 3.07 billion rupees ($47.75 million), compared with 2.87 billion rupees a year earlier, the Indian unit of packaged food giant Nestle SA said. (http://bit.ly/2qcMsEa)

Domestic sales rose about 10 percent to 24.09 billion rupees.

($1 =

JSPL to commission 6 mtpa steel plant in Odisha by May end

Jindal Steel and Power Plant's (JSPL) six million tonne per annum (mtpa) steel plant in Odisha's Angul would be commissioned by the end of May, JSPL Chairman Naveen Jindal said on Friday.

He said the sinter plant has already been commissioned and the blast furnace is likely to be commissioned by next week.

In the first phase, the Angul steel plant would be

Panasonic Eluga Ray, P85 smartphones launched in India

Panasonic India on Friday launched two smartphones Eluga Ray and P85 at Rs 7,999 and Rs 6,499, respectively, for the domestic consumers.

Both the devices will be available exclusively on Flipkart from May 15.

Eluga Ray features Arbo, an artificial intelligence (AI) assistant that uses tracks and learns your daily life activity patterns.

The device sp

Dr Reddy's says U.S. drug approvals hard to get after "bad" year

By Zeba Siddiqui

MUMBAI  - India's Dr Reddy's Laboratories Ltd said it expects to launch more than 10 products in the United States this year and hopes business there will improve as it caps off what it termed as a "particularly bad year" marked by regulatory rebukes.

At least four of the country's s

Century Textiles Q4 net profit at Rs 36.83 cr

Century Textiles and Industries Ltd today posted a net profit of Rs 36.83 crore for the fourth quarter ended on March 31, 2017. The company had reported a net loss of Rs 2.30 crore in the January-March period a year ago, Century Textiles said in a BSE filing.

Its total income from operations was at Rs 2,353.50 crore, up 4.28 per cent, during the quarter under review as against Rs 2,25