Tata Communication completes transaction with ST Telemedia

Tata Communications has said that it has successfully completed the Singapore data centre joint venture transaction with ST Telemedia (STT), a global investor in communications, media and technology businesses. In May 2016, both companies announced their entry into definitive agreements whereby STT, through its wholly owned subsidiary, ST Telemedia Global Data Centres (STT GDC), agreed to acqui

J&K Bank to raise Rs 250 cr via issue of shares to state government

J&K Bank will issue over 3.65 crore shares on preferential basis to the state government to raise Rs 250 crore, reported PTI. J&K Bank said the allotment to Government of Jammu & Kashmir, promoter and majority shareholder of the bank, will be at Rs 67.39 per share aggregating to over Rs 249.99 crore. "It is proposed to offer, issue and allot on a preferential basis, equity shar

Britannia Industries December-quarter net rises 4.6% at Rs 220.49 cr

Bakery & dairy product maker Britannia Industries Ltd on Monday reported a surge of 4.6 per cent in its consolidated net profit after taxes (PAT) at Rs 220.49 crore for the third quarter ended December 31, 2016. “The consolidated net profit of the company stood at Rs 210.81 crore during the same period a year ago,” Britannia Industries Ltd said in a filing to the Bombay Stock Ex

Equities trade flat on disappointing macro-data

 Indian equities markets traded on a flat note -- marginally in the red -- during the mid-afternoon trade session on Tuesday as disappointing macro-economic data, coupled with broadly negative Asian indices and profit booking, subdued investors' sentiments.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 3.90 points or 0.04 per cent to 8,801.15 points.

HPCL net profit up 52.73% in Q3

State run oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a 52.73 percent increase in its net profit to Rs 1,590.31 crore in December 31, 2016 as compared to Rs 1,041.25 crore in the corresponding period last year.

Its sales during the quarter were at Rs 55,470.66 crore, up by 15 percent from Rs 48,253.58 crore in the year-ago period.

The

R-Infra Q3 net soars 49% at Rs 375 crore

Reliance Infrastructure (R-Infra) on Monday posted an impressive 49 per cent jump in consolidated net profit for the third quarter ended December at Rs 375 crore, as compared to the profit after tax of Rs 251.50 crore in the same quarter of 2015-16.

The company's total operating income during the quarter in consideration came in at Rs 5,815.69 crore, as against Rs 6,199.48 crore i

Nalco records Rs 144 crore profit in Q3

National Aluminium Company Limited (Nalco) recorded a Rs 144-crore profit in the third quarter of the 2016-17 fiscal, it was announced on Monday.

According to the reviewed financial results for the 3rd quarter taken on record by the Board in a meeting held at Bhubaneswar on Monday, Nalco has achieved net profit of Rs 144 crore, as against Rs 121 crore in the preceding quarter and Rs 1

Dena Bank in talks with insurance companies to raise capital

Public sector lender Dena Bank, which requires about Rs 250-300 crore of capital by March 2017, on Monday said it is in talks with some insurance companies to raise the sum.

"Raising capital has been a challenge for banks. We are in talks with insurance companies to raise capital. We require about Rs 250-300 crore of capital by March 2017," said bank's Chairman and Manag

Reliance Nippon Life open for acquistions

Private life insurer Reliance Nippon Life Insurance Company Ltd, part of Reliance Capital, is on the lookout for a suitable acquisition that would scale up its distribution network, said a top Reliance Capital official on Monday.

"We are interested in small life insurer promoted by banks or the one with distribution tie-ups with banks," Reliance Capital's Executive Direc

Indian smartphone market grew 5.2% in 2016: IDC

 India registered 109.1 million units of smartphone shipments with a marginal 5.2 per cent annual growth in 2016, market research firm International Data Corporation (IDC) said on Monday. Chinese players led the pack.

In the fourth quarter of 2016, smartphone shipments clocked 25.8 million units -- registering similar volumes as that of 2015 but declining sharply by 20.3 per cent

Allahabad Bank posts Rs 75.26 cr profit in December-qtr

State-owned lender Allahabad Bank on Monday reported its standalone net profit after tax (PAT) at Rs 75.26 crore in the third quarter ended December 31, 2016, mainly on account of significant reduction in provisioning for bad loans.

The bank had posted a standalone net loss of Rs 486.14 crore during the corresponding quarter of previous fiscal, Allahabad Bank said in a filing to the B

Jaypee Infratech Q3 loss widens to Rs 41.4 cr

Jaypee Infratech, a part of Jaypee group of companies, saw business dipping in the third quarter as its net loss widened to Rs 41.39 crore during October-December period of 2016. “The infrastructure major had posted the net loss of Rs 25.33 crore in the corresponding quarter of previous fiscal, said Jaypee Infratech in a filing to Bombay Stock Exchange on Monday.

The total reven

Max India slips into red with Q3 net loss of Rs 0.55 cr

Max India, the flagship of ace entrepreneur Analjit Singh, saw business dipping in the third quarter ended December 31, 2016, posting a net loss of Rs 0.55 crore. “The diversified business company, with interests in healthcare, IT services, financial services, had posted the net profit of Rs 2.97 crore in the corresponding quarter of previous fiscal, said Max India in a filing to Bombay S

Power Finance Corp Q3 net jumps 23% at Rs 1,950 cr

State-run Power Finance Corporation Limited (PFC) on Monday reported a 23.3 per cent year-on-year growth in its net profit at Rs 1,949.91 crore for the quarter ended December 31, 2016, helped by strong rise in other income.

The financial institution dedicated to power sector had posted the net profit of Rs 1,582.32 crore in the corresponding quarter of previous fiscal, said PFC in a f

Hindalco Ind back in black; posts Rs 320.5 cr profit in Q3

Hindalco Industries, a subsidiary of the Aditya Birla Group, on Monday saw a sharp turnaround in its third quarter earnings as the aluminium manufacturing company posted a net profit of Rs 320.56 crore for the quarter ended December 31, 2016, on the back of higher realization and steady operational performance.

The company had posted net loss of Rs 32.75 crore in the corresponding qua

Green panel defers decision on JSW Cement's Gulbarga project

A central green panel has deferred decision on granting environment clearance (EC) to JSW Cement for its Mogla Limestone Mine project in Gulbarga, Karnataka, because the mine lease area is sub-judice, reported PTI. The proposal is for production of 4.51 million tonnes per annum of limestone-ROM from a mine lease area of 404 hectare in Mogla village in Gulbarga district.

The Expert Adv

Tata Steel, Thyssenkrupp merger talks face extensive delays

LONDON  - Investors expecting a deal this year in Tata Steel's talks to merge its European assets with Germany's Thyssenkrupp risk disappointment, given complications associated with the Indian-owned firm's British pension scheme.

Tata and Thyssenkrupp shares have firmed on hopes a merger would trigger European steel capacity cuts. Tata Steel UK, Brit

L&T, Europe's MBDA to form Indian missile venture

MUMBAI  - Indian engineering conglomerate Larsen & Toubro Ltd (L&T) and European missile maker MBDA on Monday said they have agreed to form a joint venture to build and supply missile systems for the India army.

The venture will be established in the first half of 2017 and will bid for new contracts under rules for indigenous defence firms, the pair said

India navy spurns homemade warplane, latest blow to Asia push for self reliance

BENGALURU/NEW DELHI  - India's navy is in the hunt for a new foreign fighter jet after rejecting an indigenously made aircraft as too heavy, the latest sign of the struggle to get Asian militaries to buy locally to grow their defence industries.

The navy last month invited manufacturers to pitch for 57 planes for its aircraft carriers, a multi-billion dollar

Sunteck Realty Q3 net jumps over 3-fold to Rs 20.6 cr

Sunteck Realty Ltd today reported an over three-fold jump in consolidated net profit at Rs 20.60 crore for the third quarter ended December. Its net profit stood at Rs 5.58 crore in the year-ago period, the company said in a regulatory filing. Income from operations increased to Rs 83.68 crore in the third quarter of this fiscal from Rs 77.11 crore in the corresponding period of previous year.

Vodafone rolls out 4G services in Goa

Riding on around 50 per cent market share in Goa, Vodafone India Limited announced the rolling out of 4G in the coastal state which is expected to boost the sales of the company, reported PTI. "With around 8.5 lakh connections in Goa we have touched almost 97 per cent of the population in the State," Ashish Chandra, Business Head (Maharashtra and Goa Circle) of Vodafone India Limited

Equities close flat ahead of macro-data release

 Indian equities markets closed on a flat-to-positive note on Monday as positive global cues and inflow of foreign funds buoyed investors' sentiments.

However, caution prevailed ahead of the release of key macro-economic inflation data points -- the Consumer Price Index (CPI) and Wholesale Price Index (WPI) -- slated to be released on February 13 and 14.

Besides, a

CCI rejects complaint of unfair biz practices by GTIPL at JNP

The Competition Commission has rejected complaints that Gateway Terminals India Ltd indulged in unfair business practices with respect to services of container freight stations at Jawaharlal Nehru Port, Mumbai, reported PTI.

It was alleged that Gateway Terminals India Pvt Ltd (GTIPL) diverted traffic from its terminal in Mumbai to Pipavav port in Gujarat to increase profits and compel

Motherson Sumi Q3 net profit up 28.24% at Rs 547.32 cr

Auto component maker Motherson Sumi Systems Ltd (MSSL) today reported a 28.24 per cent increase in consolidated net profit at Rs 547.32 crore in the third quarter ended December. The company had posted a consolidated net profit of Rs 426.77 crore in the same period of last fiscal, it said in a filing to the Bombay Stock Exchange.

Its total income from operations during the period unde

Uflex Q3 net down 6.9% at Rs 74 cr

Packaging company Uflex has reported a 6.88 per cent decline in consolidated net profit at Rs 73.76 crore for the December quarter due to higher tax outgo. The company had posted a net profit of Rs 79.21 crore during October-December quarter a year ago, Uflex said in a statement. Its total income was up marginally 0.91 per cent to Rs 1,495.90 crore during the quarter under review as against Rs