Jaiprakash Power Ven posts Q2 net loss of Rs 156.55 cr

The company reported standalone net loss during the quarter stood at Rs 156.55 crore as compared to net loss of Rs 161.67 crore in the previous year quarter. Net revenue of the company rose substantially by 25.21 per cent at Rs 825.84 crore in July-September quarter of this fiscal as against Rs 659.57 crore in the corresponding period last year.

During July-September quarter, operatin

Cipla second-quarter profit up 19 percent on higher domestic sales

Cipla Ltd, India's second largest drugmaker by market capitalisation, posted its second straight rise in quarterly profit, slightly above analysts' estimate, boosted by strong domestic sales.

Revenue from India, its biggest market, rose 12 percent to 16.46 billion rupees ($253.45 million) in the quarter. Domestic revenue accounted for 40 percent of total revenue, which rose 9

BHEL second-quarter profit up 6 percent, misses estimates

Power plant equipment maker Bharat Heavy Electricals Ltd  posted a nearly 6 percent rise in quarterly profit, the company said on Tuesday, but missed analysts' forecasts.

Net profit came in at 1.15 billion rupees ($17.73 million) in the quarter ended Sept. 30, compared with a profit of 1.09 billion rupees a year earlier, the company said.

Analysts on average had exp

Titan sees jewellery sales rising more than 25 percent in 2017/18 - CFO

MUMBAI - India's biggest-listed jeweller Titan Co expects jewellery sales to leap more than a quarter this fiscal year as tighter rules on cash flows and a new sales tax hurt the mom-and-pop firms that dominate the business, a senior company official told Reuters.

Both "demonetisation" - removing higher currency bills from circulation - and a new nationa

Ola ties up with Microsoft for connected car platform

MUMBAI/NEW DELHI - Indian ride-hailing firm Ola said it has tied up with Microsoft to build a connected-car platform and will use the U.S tech giant's Azure cloud-computing service to power its in-car entertainment offering.

Microsoft is separately also in talks over a potential investment in Ola, a source told Reuters, declining to be named as the discussions are

Exclusive: State miner NMDC plans bid for $9 billion diamond mine, sources say

NEW DELHI - India's state-owned miner NMDC Ltd  plans to bid for a $9 billion diamond project in Madhya Pradesh, three sources directly involved with the plan told Reuters, competing against resources conglomerates Adani and Vedanta.

NMDC plans to shortly send a team to Bhopal for talks with state authorities, one of the sources said.

"We initi

Tata Motors` Jaguar Land Rover sells 46,418 units in Oct 17

Leading auto major, Tata Motors has said that retail sales for Jaguar Land Rover totalled 46,418 vehicles in October, up 0.2 per cent on October 2016. The results reflect growing sales of the Range Rover Velar and the new Discovery offset by lower sales of the Range Rover and Range Sport in advance of the 18 model year refresh, including PHEV models, as well as the Range Rover Evoque and Jaguar

Power Ministry sets up panel to probe NTPC`s Unchahar plant accident

The Power Ministry set up a committee to investigate the causes of the recent accident on November 1 at state-run NTPC's Unchahar power plant, where 36 people died due to boiler blast. The panel, headed by P D Siwal Member (thermal) Central Electricity Authority (CEA), will submit its report in one month from the date of order, the Power Ministry said in an office order.

According

Punjab National Bank to raise Rs 5,000 cr from share sale, appoints merchant bankers

Punjab National Bank (PNB) said that it has proposed to mop up Rs 5,000 crore from a share sale in next few months and has appointed merchant bankers for it. "We have got board approval for QIP (Qualified Institutional Placement) to raise Rs 5,000 crore," PNB MD and CEO Sunil Mehta said. The bank has already appointed merchant bankers for a share sale, he said. Asked about consolidati

Biocon intimates of resubmission of two biosimilars with EMA

Biopharmaceutical firm Biocon said that its partner Mylan has resubmitted dossiers for two biosimilars Trastuzumab and Pegfilgrastim with the European drug regulator, European Medicines Agency (EMA). The company had earlier withdrawn both the applications in response to adverse observations from the audit of its drug product facility by the European drug regulator.

"Biocon has co

HFCL bags PO worth Rs 1248 cr from BSNL

Himachal Futuristic Communications (HFCL) has said that the company has received the Purchase Order ('PO') worth Rs.1248 crore approx. from Bharat Sanchar Nigam Limited, New Delhi for DWDM equipments to be installed on pan India basis for the defence forces (under Network For Spectrum programme) vide its letter dated 6th November, 2017.

“The order value for material and

Not paying interest to lenders in light of SDR: Reliance Communications

Reliance Communications (RCom) said the company is not paying interest or principal amount for the time being to any lenders or its bondholders in view of the strategic debt restructuring scheme and consequent standstill period till December 2018, reported PTI. On October 30, the company had announced that its lenders would convert part of its debt into equity to the tune of 51 per cent stake i

Bank of Maharashtra cuts MCLR by 0.5% for all tenors

Bank of Maharashtra has cut its marginal cost of funds based lending rates (MCLR) by 0.05 per cent for all the tenors up to one year with effect from November 7, 2017, reported PTI. "The bank has reviewed its marginal cost of funds based lending rates (MCLR) with effect from November 7, 2017," it said in regulatory filing. For all the tenors: overnight, one month, three months, six mo

Profit booking subdues equities, Sensex falls over 300 points

 A massive bout of profit bookings in healthcare, consumer durables and banking stocks subdued the key Indian equity indices during the mid-afternoon trade session on Tuesday, with the BSE Sensex shedding over 300 points.

Heavy selling pressure in index heavyweights like Lupin, Cipla, Sun Pharma, Tata Steel and State Bank of India, among others, pulled the benchmarks lower to tra

Tata Chemicals sells phosphatic fertilisers business to IRC Agrochemicals

 Tata Chemicals on Monday announced the sale of its phosphatic fertilisers business to IRC Agrochemicals for Rs 375 crore.

According to the company, its board of directors accepted the recommendations of the "Committee of Directors" for disposal and transfer of the phosphatic fertilisers business by way of a slump sale.

"The transaction would involve tran

India orders investigation after Paradise Papers leak

NEW DELHI  - India on Monday formed a panel of government officials to investigate cases that figure in the so-called Paradise Papers, a trove of leaked documents about offshore investments of wealthy individuals and institutions.

Officials from government bodies and the central bank will carry out and monitor the investigation, the finance ministry said.

Royal Enfield`s big bike could test Harley`s India dominance

Harley-Davidson Inc's pole position in India's fast growing big-bike category is set to face a sweeping test when Indian-owned Royal Enfield launches its first heavyweight bike on Tuesday.

The world's biggest bike and scooter market with 18 million in the year to last March, India accounts for less than 2 percent of Harley's global sales but is now a production locatio

IndiGo to have 1,000 flights a day in December

Low cost carrier IndiGo on Monday said it will achieve 1,000 flights per day mark in December.

According to the airline, it will launch 47 flights including additional frequencies on its network, which will take its operations to 1,000 flights per day mark by December 23.

Currently, IndiGo, with its fleet of 142 Airbus A320 family aircraft, operates over 900 daily flights co

Reliance Communications to sell DTH business to reduce debt

Telecom operator Reliance Communications Ltd (RCom) said on Monday it signed an agreement to sell its non-core Direct-to-Home business, in a bid to reduce debt load.

Veecon Media & Television will buy 100 percent equity stake in Reliance Big TV Ltd (RBTV), the DTH unit of the Anil Ambani-owned company, for an undisclosed amount, along with all existing trade and contingent liabili

Texel Industries Q2 net profit zooms 114.63% at Rs 0.88 cr

The company reported standalone net profit of Rs 0.88 crore for the quarter ended September 30, 2017 as compared to Rs 0.41 crore in the same period last year, registering a year-on-year growth of 114.63 per cent. Net revenue of the company rose substantially by 51.29 per cent at Rs 23.39 crore in July-September quarter of this fiscal as against Rs 15.46 crore in the corresponding period last y

Zenlabs Ethica Q2 net profit jumps 80.00% at Rs 0.45 cr

The company reported standalone net profit of Rs 0.45 crore for the quarter ended September 30, 2017 as compared to Rs 0.25 crore in the same period last year, registering a year-on-year growth of 80.00 per cent. Net revenue of the company declined marginally by 1.79 per cent at Rs 21.92 crore in July-September quarter of this fiscal as against Rs 22.32 crore in the corresponding period last ye

Coral Labs. Q2 net profit up 33.09% at Rs 5.39 cr

The company reported standalone net profit of Rs 5.39 crore for the quarter ended September 30, 2017 as compared to Rs 4.05 crore in the same period last year, registering a year-on-year growth of 33.09 per cent. Net revenue of the company rose substantially by 35.61 per cent at Rs 28.18 crore in July-September quarter of this fiscal as against Rs 20.78 crore in the corresponding period last ye

Indian steel shortfall causes clash over Railways demand for rail imports

NEW DELHI  - India's steel and rail ministries are at loggerheads over the state-run network's proposal to buy much-needed rails from overseas, a move that would undermine Prime Minister Narendra Modi's drive to build key infrastructure in India.

The Ministry of Railways, which manages the world's fourth-largest rail network, has grappled with a s

Torrent Power Q2 net profit zooms 121.70% at Rs 307.45 cr

The company reported standalone net profit of Rs 307.45 crore for the quarter ended September 30, 2017 as compared to Rs 138.68 crore in the same period last year, registering a year-on-year growth of 121.70 per cent. Net revenue of the company rose moderately by 9.98 per cent at Rs 2,888.11 crore in July-September quarter of this fiscal as against Rs 2,626.14 crore in the corresponding period

Arvind SmartSpaces Q2 net profit jumps 69.43% at Rs 3.88 cr

The company reported standalone net profit of Rs 3.88 crore for the quarter ended September 30, 2017 as compared to Rs 2.29 crore in the same period last year, registering a year-on-year growth of 69.43 per cent. Net revenue of the company rose by 5.74 per cent at Rs 23.94 crore in July-September quarter of this fiscal as against Rs 22.64 crore in the corresponding period last year.

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