Savera Industries Q2 net profit jumps 64.21% at Rs 3.12 cr

The company reported standalone net profit of Rs 3.12 crore for the quarter ended September 30, 2017 as compared to Rs 1.90 crore in the same period last year, registering a year-on-year growth of 64.21 per cent. Net revenue of the company rose moderately by 8.63 per cent at Rs 19.13 crore in July-September quarter of this fiscal as against Rs 17.61 crore in the corresponding period last year.<

Moody`s assigns Baa2 ratings to RIL's proposed USD bonds

Moody's Investors Service, a global rating agency, has assigned a Baa2 rating to the proposed USD-denominated senior unsecured bonds of Reliance Industries Limited (RIL). The outlook on the rating is stable. The bond proceeds will be used for refinancing. The proposed bond will rank pari passu with all of RIL's other existing and future unsecured and unsubordinated obligations.

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Coal dispatches from CIL to power sector rise 18% to 39.9 MT in October

Coal dispatches from state-run miner Coal India Ltd (CIL) to power sector improved by 18 per cent to 39.9 million tonnes (MT) in October, official data showed. The power ministry earlier this month had also stated that coal stocks at power plants were "much better" and dry fuel inventories had started building up at the plants.

Coal India had supplied 33.8 MT of dry fuel to

JMT Auto Q2 net profit down 55.49% at Rs 0.77 cr

The company reported standalone net profit of Rs 0.77 crore for the quarter ended September 30, 2017 as compared to Rs 1.73 crore in the same period last year, registering a year-on-year decline of 55.49 per cent. Net revenue of the company rose moderately by 19.45 per cent at Rs 82.73 crore in July-September quarter of this fiscal as against Rs 69.26 crore in the corresponding period last year

Zydus Cadila bags approval for Ethacrynate Sodium

Zydus Cadila has said that it has received the final approval from the US Food & Drug Administration (USFDA) to market Ethacrynate Sodium for Injection USP, 50 mg/vial. The drug is used to decrease the swelling (edema) caused by various disease conditions such as liver disease, kidney disease, congestive heart failure, cancer etc. and will be produced at the group's formulations manufac

HFCL bags purchase order worth Rs 128 cr from BSNL

Himachal Futuristic Communications Limited (HFCL) has said that the Company has received the Purchase Order ('PO') worth Rs. 128 crore approx. from Bharat Sanchar Nigam Limited, New Delhi for supply of Packet Microwave Radio Systems on pan India basis for BSNL Mobile Network vide its letter dated 17th November, 2017. “This equipment PO is part of a turnkey project and the balance

Equity indices trade with marginal losses; IT, banks down

 Selling pressure in IT, banking and tech stocks, coupled with broadly negative global cues, led the key Indian equity indices to trade on a flat-to-negative note during the mid-afternoon session on Monday.

ICICI Bank, Cipla, State Bank of India (SBI) and Infosys were among the top laggards on the BSE market breadth.

Around 12.45 p.m., the wider Nifty50 of the National

Government not to sell Cairn Energy shares to recover Rs 10,247-cr tax

The income tax department will not sell the attached shares of Cairn Energy to recover a Rs 10,247-crore retrospective tax demand as it fears that replenishing them in case of an international arbitration going against it will be difficult, a senior official said. Cairn Energy holds 4.95 per cent stake in Vedanta Ltd that the income tax department had attached in January 2014 after slapping the

Six of top-10 most valued firms add Rs 31k cr in m-cap; RIL biggest gainer

The combined market valuation of six of the top-10 most valued companies, led by Reliance Industries Ltd (RIL), rose by Rs 31,249.36 crore last week. RIL, Tata Consultancy Services (TCS), HDFC Bank, SBI, Maruti Suzuki India and Infosys emerged as gainers from the top 10 list, while ITC, Hindustan Unilever Ltd (HUL), HDFC and ONGC suffered losses in their market capitalisation (m- cap) for the w

L&T wins $1.3 billion construction contract: statement

NEW DELHI  - India's top engineering and construction company Larsen & Toubro Ltd has secured a contract to build a $1.3 billion Mumbai Trans Harbour Link, the company said in a statement, in a big boost for the firm.

"The project involves construction of a 21.8 km (13.6 mile)bridge connecting Mumbai mainland with Navi Mumbai," the statement iss

Global cues to influence equity indices' movements

 Major global cues -- crude oil price fluctuations, tensions in the Middle East and a likely US interest rate hike -- are expected to influence the movement of key Indian equity indices in the upcoming week.

According to market observers, the flow movement of foreign funds will also play a critical role in giving direction to equity markets' trajectory.

"For th

IOC opens India's first electric charging station in Nagpur

 In a major step in spreading the use of green energy, Indias first electric vehicle (EV) charging station was started here on Sunday by Indian Oil Corp (IOC), according to the state-run oil marketing company.

Indian Oil has partnered with cab aggregator Ola to set up the charging station at an IOC petrol pump here. 

"Nagpur, being the first city to

Fake currency of Rs 6 lakh face value seized in Bengal

 The West Bengal Police has seized fake Indian currency notes of close to Rs 6 lakh face value from Ranibagan area of Baharampur in West Bengal's Murshidabad district, police said on Saturday.

Three persons have been arrested in this connection.

The seized currency included 298 notes of Rs 2,000 denomination each.

Investigation is on to find

Karnataka inks 10 technology deals at Bengaluru summit

Karnataka has signed 10 agreements with stakeholders at the three-day Bengaluru Technology Summit to leverage emerging technologies like the Internet of Things (IoT), Cloud, Analytics and Big Data, said a minister on Saturday.

"We have signed agreements at the summit with 10 stakeholders, including Virgin Hyperloop One, CoE for Data Science and AI, Intel Corporation, Busines

Infosys to configure GST network for filing returns

Software vendor Infosys would configure the editing facility in the GST Network by November 20 to enable traders to file their three-page summary return (3B), said the GST Group of Ministers (GoM) Chairman Sushil Kumar Modi on Saturday.

"Over 2 lakh tax payers were unable to file their summary returns (3B) in August and September due to the non-provision of the editing facil

Moody`s upgrades NHAI rating in October

The Ministry of Road Transport and Highways on Saturday said global rating agency Moody's upgraded the issuer ratings of National Highways Authority of India (NHAI) to Baa2 from Baa3 in the beginning of October and revised outlook to stable from positive.

The ratings of National Thermal Power Corporation (NTPC), National Hydroelectric Power Corporation (NHPC) and Gas Authorit

Over 52% of participants at GES will be women

Over 52 per cent of the participants in the Global Entrepreneurship Summit (GES), scheduled to be held here on November 28-30, are women.

Women will represent 52.5 per cent of entrepreneurs, investors and ecosystem supporters at the GES 2017, being co-hosted by the US and India.

This is the first time that women form the majority of participants at a GES, said the

Kerala RTO gets tough on tax-evading luxury car owners

 The Regional Transport Commissioner's office here has decided to crack down on the thriving business of Keralites getting high-end cars registered in Puducherry, taking advantage of the low taxes in that state.

The transport commissioner's office has also decided to serve notices to popular actors Fahad Fazil and Amala Paul, whose luxury vehicles have a Puducherry n

Fast pace of innovation essential for success: Narayana Murthy

 IT major Infosys co-Founder N.R. Narayana Murthy on Saturday said globalisation has created an extremely competitive environment where faster pace of innovation is a critical to success.

The Padma Vibhushan awardee was speaking at the SRM University's 13th Convocation at the Kattankulathur Campus where he was the Chief Guest. 

"The implications

Moody`s upgrade cheers equities, but weekly gains muted

Riding on a sovereign ratings upgrade of the Indian government's bonds by US credit rating agency Moody's and bargain hunting by investors, the key Indian equity indices closed Friday's trade on a higher note.

However, on a week-on-week comparison, the overall sentiment in the markets remained flat on the back of weak domestic macro-data, along with geo-political tensions

L&T bags orders worth Rs 8,650 cr for Mumbai Trans-Harbour Link project

Industrial conglomerate Larsen and Toubro (L&T) has bagged orders worth Rs 8,650 crore from Mumbai Metropolitan Region Development Authority (MMRDA) for construction of "packages 1 and 3" of Mumbai Trans-Harbour Link (MTHL).

According to the industrial conglomerate, the order was bagged by the heavy civil infrastructure business vertical of its construction arm. 

Moody`s withdraws RCom`s credit rating after missed payment

MUMBAI - Rating agency Moody's said on Friday it has withdrawn its credit rating on Reliance Communications, as it considers the Indian telecom operator to be in default for missing an interest payment on its bonds that was due last week.

Debt-laden Reliance Communications posted a fourth straight quarterly loss last week and said it had failed to pay interest on

Infosys buyback offer to open from November 30

IT major Infosys on Friday informed that its share buyback offer worth up to Rs 13,000 crore will open from November 30, 2017.

According to a BSE filing, the IT major said it has received the observations from the Security and Exchange Board of India (Sebi) on its draft letter of offer for the buyback. 

As per the letter of offer, the buyback has been proposed for up to

GoAir adds 30 flights, launches fares at Rs 1,212

Budget carrier GoAir on Friday said it will operate 22 additional flights on new routes, along with increasing the frequencies by eight flights on existing routes, during the winter schedule effective from November 23.

The airline said with the new services, it would operate an average of 240 flights a day.

"GoAir will strengthen its market presence at Ahmedabad, Bengal

IndiGo takes delivery of first ATR 72-600 aircraft

Budget carrier IndiGo on Friday took delivery of its first turbo-prop ATR 72-600 aircraft.

"We are now one step closer to the launch of our turboprop operations by the end of this year," Aditya Ghosh, President and Whole Time Director of IndiGo, said in a statement here.

"The teams have put in a lot of hard work in order to launch our regional operations withi