TVS Motor to launch electric and hybrid vehicles

Two and three wheeler maker TVS Motor Company Limited will launch electric and hybrid vehicles soon, said a top company official.

Speaking to reporters on the sidelines of the company's annual general meeting here, company Chairman Venu Srinivasan said the electric vehicle will be rolled out early part of next year while the hybrid vehicle will be launched by this year end.

Allahabad Bank posts Rs 28.84 cr net profit in Quarterly result

State-run lender Allahabad Bank on Friday reported a net profit of Rs 28.84 crore in the quarter ended June 30, 2017 as compared to a loss of Rs 564.96 crore in the year-ago period.

"Reduction in cost of deposits and total expenses and a surge in operating profit were the key reasons behind the net profit numbers for Q1 (April-June quarter)," Bank's Managing Directo

India`s JSW Energy to invest up to $623 million in electric cars

By Promit Mukherjee

MUMBAI - JSW Energy will invest up to 40 billion rupees ($623 million) to build electric cars, batteries and charging infrastructure, part of the power company's diversification plans to drive future growth, its chief executive said.

JSW plans to roll out its first electric car by 2020, which will make it the first non-automotive comp

Bank of Baroda net down to Rs 203 cr

Public sector Bank of Baroda on Friday said it closed the first quarter of the current fiscal with a drastic fall in net profit at Rs 203.39 crore.

In a regulatory filing in BSE, the bank said it posted a net profit of Rs 203.39 crore for the period ended on June 30, down from Rs 423,62 crore posted for the quarter ended June 30, 2016.

The bank's total income f

Bharat Petroleum Q1 net profit at Rs 745 cr down 72%

State -run oil marketing company (OMC) Bharat Petroleum Corporation Ltd (BPCL) on Friday reported a massive 72 per cent fall in net profit for first quarter of the fiscal ended June at Rs 745 crore caused by inventory loss and a drop in refining margins.

The firm had posted a profit after tax (PAT) of Rs 2,621 crore in the corresponding quarter a year ago, BPCL said in a stock exchang

MEP Infrastructure gets LOA from NHAI

MEP Infrastructure Developers said that it has received Letter of Acceptance (LOA) from National Highways Authority of India (NHAI) on August 10, 2017 informing that MEP has been appointed as the Contractor for the Project of ‘Collection of user fee through User Fee Collecting Agency at Paduna Fee Plaza at Km. 311.100 for the section Km.

278.000 to Km. 348.000 (Udaipur-Kherwada)

Steel Authority of India posts ninth straight quarterly loss

Steel Authority of India Ltd reported its ninth consecutive quarterly loss on Friday, hurt by higher expenses.

Net loss came in at 8.01 billion rupees ($124.80 million), in the first quarter ended June 30, compared with a loss of 5.36 billion rupees in the year-ago period.

Total expenses for the quarter surged 27 percent to 143.50 billion rupees.

($1 = 64.1850 Indi

Tata Steel gets regulatory approval for UK pension deal

 India's Tata Steel Ltd has received regulatory approval for a deal to cut its UK pension scheme liabilities, it said on Friday, paving the way for a possible merger between its British and European steel businesses and those of Germany's Thyssenkrupp.

The pensions deal "represents the best possible structural outcome for the members of the British Steel Pension Sche

Hilton Metal Forging posts Quartely result net loss of Rs 0.53 cr

The company reported standalone net loss during the quarter stood at Rs 0.53 crore as compared to net loss of Rs 0.58 crore in the previous year quarter. Net revenue of the company rose moderately by 8.01 per cent at Rs 13.75 crore in April-June quarter of this fiscal as against Rs 12.73 crore in the corresponding period last year.

During April-June quarter, operating expenses increas

Kraft Heinz eyes over 10% market share for Complan

Food and beverage major Kraft Heinz India, which has the nutritional drink brand Complan, is looking to increase its market share to over 10 per cent in the short-to-medium term period, a top company official said on Friday.

"We have 7-8 per cent market share and short-to-medium term goal is to achieve a double digit market share. We are looking at 10 plus," the company

Bank of Baroda first-quarter profit slumps 52 percent

Indian state-run Bank of Baroda Ltd reported a 52 percent plunge in first-quarter net profit on Friday.

The fifth-largest bank in the country by assets reported a net profit of 2.03 billion rupees ($31.65 million), for the three-month period ended June 30, compared with 4.24 billion rupees a year ago.

Gross bad loans as a percentage of total loans rose to 11.40 percent by en

Sensex posts biggest weekly fall in 1-1/2 years; SBI drags

Indian shares fell for a fifth session and ended their worst week in one-and-a-half years after State Bank of India sank following weak June-quarter results, further weakening sentiment in a market reeling under North Korea tensions.

Weakening global risk appetite has sparked a wide round of profit-taking after shares scaled record highs last week.

The benchmark BSE Sensex c

Oil India first-quarter profit falls 9 percent; beats estimates

State-run Oil India Ltd posted on Friday a 9 percent fall in its first-quarter profit, but exceeded analysts' estimates.

Profit was 4.50 billion rupees ($70.08 million) in the three months ended June 30, compared with 4.94 billion rupees a year ago, the company said.

Analysts on average had expected the company to post a profit of 4.30 billion rupees, according to Thomso

Sun Pharma reports first-quarter loss as generics business suffers

By Zeba Siddiqui

 India's largest drugmaker Sun Pharmaceutical Industries Ltd posted a surprise quarterly loss on Friday due to one-off legal costs and pressure over prices in its largest market, the United States, casting a shadow over its growth prospects.

Sun is the latest maker of generic drugs to report poor sales as uncertainty grows in the global market for c

Cadila Healthcare cons Quarterly result net dips 65% at Rs Rs 138.4 cr

Drug firm Cadila Healthcare today reported a 65.26 per cent decline in its consolidated net profit at Rs 138.4 crore for the first quarter ended June 30. The company had posted a net profit after taxes, non controlling interests and share of profit/loss of joint ventures of Rs 398.4 crore for the corresponding period of the previous fiscal, Cadila Healthcare said in a BSE filing.


TVS Motor first-quarter profit up nearly 7 percent, misses estimates

TVS Motor Co Ltd posted a nearly 7 percent rise in quarterly profit on Friday, missing analysts' estimates.

Profit came in at 1.29 billion rupees ($20.09 million) in the first quarter ended June 30, compared with 1.21 billion rupees a year ago, the two-wheeler manufacturer said. (

However, profit came in lower than analysts' estimate of 1.69 bil

Cipla first-quarter profit rises 20 percent, beats estimates

Cipla Ltd, India's fourth-largest drugmaker by sales, reported a 20 percent rise in quarterly profit, beating analysts' estimates, as higher sales in Europe and South Africa offset weakness in its key domestic market.

Revenue from South Africa, Cipla's third largest market, rose 21 percent to 4.88 billion rupees ($76.03 million) compared with last year while Europe revenue

India`s refiners bet big on petrochemicals as industry reshapes

NEW DELHI - India's state oil refiners - long focused on churning out transport and cooking fuels - are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives.

The drive comes as the government seeks to promote durable, cheaper materials in industries such as farming and food pack

State Bank of India first-quarter results weighed down by subsidiary bank mergers

State Bank of India's first-quarter profit fell short of expectations as the nation's top lender by assets saw a spike in bad loans after merging five subsidiary banks with itself, sending its shares more than 5 percent lower.

Indian banks' sour assets have surged in the past year or so after a regulatory crackdown to clean up the sector dominated by state-run lenders. Thi

Zydus Pharma recalls 3.31 lakh bottles of seizure drug in US

Zydus Pharmaceuticals USA Inc is recalling from the US market over 3.31 lakh bottles of Divalproex Sodium delayed release tablets used for treatment of seizures and manic episodes in people with bipolar disorder , latest Enforcement Report of the USFDA said. The tablets were manufactured by Ahmedabad-based Cadila Healthcare and are being recalled on account of failed dissolution specifications,

Government flags growth risks, pushes for monetary easing

NEW DELHI - India called on Friday for more monetary easing as it flagged risks to economic growth and budget targets, citing a series of disinflationary impulses weighing on Asia's third-largest economy.

In its mid-year economic survey, the finance ministry said "tighter" monetary policy meant real interest rates in India were substantially higher than

Tribunal approves demerger of home finance from Reliance Capital

Financial services major Reliance Capital Ltd on Friday said the National Company Law Tribunal (NCLT) has approved the demerger of its home finance business.

In a statement issued here, Reliance Capital said NCLT approved the demerger and the vesting of the demerged undertaking from the company to Reliance Home Finance Ltd.

The NCLT approval facilitates independent

MyJio app crosses 100 million download mark

Mobile application suite MyJio app, of Reliance Jio, has become the second most downloaded Indian application on the Android platform by registering over 100 million downloads, as per a company official, reported PTI. "MyJio has crossed 100 million downloads on Google Play. It is the second Indian mobile application to cross 100 million download mark and first self-care mobile application

BSNL to allow special plan benefit on roaming from Aug 15

Come August 15, mobile customers of state-owned BSNL will be able to use services at discounted rate availed through special recharges in their home circle even on roaming, reported PTI. "... It is now decided to allow the benefit of voice or SMS special tariff voucher (STV) and combo vouchers on national roaming on the occasion of 71st Independence Day on a pan-India basis with effect fro

IOB`s net loss falls by 65.6% in Quarterly result

 State-run Indian Overseas Bank (IOB) on Thursday reported a fall in net loss by 65.6 per cent at Rs 49,909 lakh in the first quarter ended June 30, compared with a loss of Rs 1,45,050 lakh in the year-ago period.

The lender's provision for non-performing assets (NPAs) in the quarter under review stood at Rs 1,60,788 lakh, down by 24.7 per cent from Rs 2,13,781 lakh in t