Tata Steel India, Europe profitability to sustain in FY18: Standard & Poor`s

Positive performance by Tata Steel during the first quarter of 2017-18 is on expected lines and profitability will be sustained in the current fiscal, S&P Global Ratings said as per the PTI report. "The healthy profitability at India-based Tata Steel Ltd (BB-/stable) is in line with our expectations and supports the company's credit quality," S&P Global Ratings said in a s

Wipro named winner of 2017 ISG Paragon Awards

Wipro Limited, a leading global information technology, consulting and business process services company has said that it has been named winner of the 2017 ISG Paragon Awards™ Europe by Information Services Group (ISG), a leading global technology research and advisory firm. Innogy Business Services UK and Wipro were recognized for their outstanding work and partnership in the ‘Exce

Sensex extends decline; Tata Motors skids

Indian shares fell for a fourth straight session on Thursday, led by losses in financials and auto stocks, with Tata Motors weighing on the indexes after its first-quarter results failed to meet expectations.

The automaker's shares fell as much as 7.2 percent to their lowest in over a year after the company's 42 percent rise in June-quarter profit, helped by a one-off gain rel

NSE commences verification of suspected`shell companies` on its platform

Stock exchange major National Stock Exchange of India (NSE) on Wednesday said that it has commenced the process to verify the credentials of firms on its platform, on whom trade restrictions were imposed by regulator Sebi.

"Sebi has directed exchanges to shift 331 companies to the Graded Surveillance Measure (GSM), Stage VI, with immediate effect. Of these 331 companies, onl

Eicher Motors`Quartyerly result consolidated net profit up 32%

Commercial vehicle manufacturer Eicher Motors on Wednesday reported a rise of 31.9 per cent in its consolidated net profit for the first quarter (Q1) of 2017-18.

The consolidated net profit of the commercial vehicle and motorcycle brand Royal Enfield's manufacturer increased to Rs 435 crore from Rs 330 crore for the corresponding quarter of 2016-17.

According t

SEBI to hear J.Kumar Infraprojects on`shell company`classification

 The Securities Appellate Tribunal (SAT) on Wednesday asked the securities market regulator SEBI to hear J.Kumar Infraprojects Ltd objecting to being classified as a `shell company', said the company's attorney.

"The company had approached SAT today (Wednesday) against SEBI, NSE and BSE classifying it as a `shell company'. The SAT had asked SEBI to hear the compa

McLeod Russel looks at entering packet tea segment

Tea producer McLeod Russel India is looking to enter the packet tea market, the company's Managing Director said on Wednesday.

"We are seriously looking into entering the packet tea segment. The company will take this step soon. It is now in a study phase," Aditya Khaitan, the company's Vice Chairman and Managing Director, said here.

The company's board

Nalco registers Rs 129 crore profit in Q1

The National Aluminium Co Ltd (NALCO) has registered a net profit of Rs 129 crore in the first quarter (Q1) of the current fiscal 2017-18, compared to Rs 135 crore in the corresponding previous fiscal.

According to the reviewed financial results for the first three months of the this financial year, taken on record by the Board of Directors in a meeting held here on Wednesday, operati

Mahanagar Gas Quarterly result net profit up 34.08% at Rs 124.33 cr

The company reported standalone net profit of Rs 124.33 crore for the quarter ended June 30, 2017 as compared to Rs 92.73 crore in the same period last year, registering a year-on-year growth of 34.08 per cent. Net revenue of the company rose moderately by 9.83 per cent at Rs 582.85 crore in April-June quarter of this fiscal as against Rs 530.70 crore in the corresponding period last year.

Triveni Turbine Quarterly result net profit down 56.11% at Rs 9.62 cr

The company reported standalone net profit of Rs 9.62 crore for the quarter ended June 30, 2017 as compared to Rs 21.92 crore in the same period last year, registering a year-on-year decline of 56.11 per cent. Net revenue of the company declined substantially by 23.57 per cent at Rs 121.21 crore in April-June quarter of this fiscal as against Rs 158.58 crore in the corresponding period last yea

Polaris Consulting net down by 24 per cent

City based Polaris Consulting and Services Ltd on Wednesday said it closed the first quarter of the current fiscal with a 24.2 per cent decline in its net profit despite a growth in total income.

The company in a statement issued here said its first quarter revenues stood at Rs 554.9 crore against Rs 501.90 crore earned for the period ended June 30, 2016.

Polaris s

Sensex falls; pharma stocks slump

Indian shares ended lower on Wednesday, their third straight session of falls, dragged down by healthcare and financial stocks amid mounting tensions between the United States and North Korea.

The benchmark BSE Sensex closed down 0.68 percent at 31,797.84, its lowest close in over three weeks.

The broader NSE Nifty ended 0.71 percent lower at 9,908.05, its lowest close since

Tata Motors first-quarter profit rises 42 percent

Tata Motors Ltd posted a 42 percent rise in quarterly profit on Wednesday.

Profit was 31.82 billion rupees ($498.73 million) in the first quarter ended June 30, compared with 22.36 billion rupees a year earlier, the company said.

The automaker, owned by the software-to-salt conglomerate Tata Group, said its total income fell about 10 percent to 599.72 billion rupees.

Ajanta Pharma Quarterly result net profit falls 21% at Rs 95 cr

Ajanta Pharma today reported a 20.71 per cent decline in consolidated net profit to Rs 94.79 crore for the first quarter ended June 30, mainly due to de- stocking in trade channels ahead of GST implementation. The company had posted a net profit of Rs 119.55 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a BSE filing.

The company's revenue from op

Veena Textiles posts Quarterly result net loss of Rs 0.07 cr

The company reported standalone net loss during the quarter stood at Rs 0.07 crore as compared to net loss of Rs 0.02 crore in the previous year quarter. Net revenue of the company rose three fold by 3850.00 per cent at Rs 1.58 crore in April-June quarter of this fiscal as against Rs 0.04 crore in the corresponding period last year.

During April-June quarter, operating expenses increa

City Union Bank Quarterly result net profit up 13.59% at Rs 140.32 cr

The bank reported standalone net profit of Rs 140.32 crore for the quarter ended June 30, 2017 as compared to Rs 123.53 crore in the same period last year, registering a year-on-year growth of 13.59 per cent. Interest income of the bank rose by 6.91 per cent at Rs 825.53 crore for the quarter ended June 30, 2017 as against Rs 772.20 crore in the corresponding period last year.

During

Zydus Cadila gets USFDA nod to market hypertension drug

Drug firm Zydus Cadila has received the US health regulator's nod to market Diltiazem Hydrochloride capsules, used to treat high blood pressure, angina (chest pain) and certain heart rhythm disorders, in the American market. The company has received final approval from the US Food and Drug Administration (USFDA) to market Diltiazem Hydrochloride extended release capsules USP in strengths of

Lupin receives approval for Nikita (Pitavastatin) Tablets

Leading pharma major, Lupin has said that it has received a 505 (b) (2) NDA approval for its Nikita (Pitavastatin) Tablets 1 mg, 2 mg and 4 mg from the United States Food and Drug Administration (FDA). “Lupin’s Nikita (Pitavastatin) Tablets 1 mg, 2 mg and 4 mg are Pitavastatin Sodium, an alternate salt product of Kowa Company Ltd’s Livalo (Pitavastatin Calcium) Tablets,”

Bank of India records profit in Q1

State-run Bank of India (BoI) on Wednesday reported a net profit of Rs 87.71 crore in the first quarter which ended on June 30, compared with a loss of Rs 741.36 crore in the year-ago period.

The lender's provision for non-performing assets (NPAs) in the quarter under review stood at Rs 2,156.21 crore, down by 12 per cent from Rs 2,452.61 crore in the corresponding quarter last fi

Get ready for first filing deadline, GST chief says

NEW DELHI - Millions of companies in India are still not ready to file their first returns under the new Goods and Services Tax (GST) ahead of an Aug. 20 deadline, a top official told Reuters, urging them not to leave things to the eleventh hour.

Navin Kumar, chairman of the GST Network, also said barely half of the 34 service providers accredited to help firms bulk-f

Ashiana Housing posts Quarterly result net profit of Rs 4.61 cr

The company reported standalone net profit during the quarter stood at Rs 4.61 crore compared to net loss of Rs 3.80 crore in the previous year quarter. Net revenue of the company rose three fold by 462.23 per cent at Rs 65.05 crore in April-June quarter of this fiscal as against Rs 11.57 crore in the corresponding period last year.

During April-June quarter, operating expenses increa

Wipro partners First Book to donate books in Boston area

Wipro Limited, a leading global information technology, consulting and business process services company has said that it has partnered First Book, a nonprofit social enterprise to donate four thousand new books to students in the Boston area. The books will be distributed to registered First Book members in the Boston area, providing additional education resources in the community where Wipro

BHEL secures export orders from Chile, Estonia

Bharat Heavy Electricals Ltd (BHEL) has said that it has expanded and consolidated its footprint in the international market by securing export orders from Chile and Estonia. “With maiden orders for transformer bushing from Niquel Electric, Chile and Electronic cards from SCANFIL OY Vana Sauga, Estonia, BHEL has now expanded its global footprint to 82 countries across all the six inhabite

PNB puts 9 large stressed accounts under IBC resolution

Punjab National Bank (PNB) has put nine of its large stressed accounts for resolution under Insolvency and Bankruptcy Code 2016 (IBC), reported PTI. The stressed assets, including restructured and gross non-performing assets (GNPAs), declined to Rs 68,772 crore as on June 30, 2017 from Rs 75,564 crore as on June-end in 2016. "For resolution of large ticket advances, 9 large stressed accoun

Chandrasekaran defends Corus Steel acquisition

Defending the acquisition of Corus Steel in Britain, Tata Steel Chairman N. Chandrasekaran on Tuesday said all allegations were "incorrect" as this decision was part of the long-term strategies to grow through international acquisitions.

"During this period, certain specific issues relating to acquisition of Corus were raised. It is now evident that such allegation