Smartphone shipments in India grew 15% in Q1 2017

Smartphone shipments in India registered a growth of 15 per cent annually in the first quarter of 2017, reaching 29 million units, a report said on Saturday.

According to findings by market research firm Counterpoint, Samsung continued to retain the top spot, followed by Xiaomi. Vivo, OPPO and Lenovo (that also includes Motorola) occupied the other three spots.

Together, all

Samsung regains top spot in Q1 smartphone market

South Korean giant Samsung Electronics regained the top status in the global smartphone market in the first quarter of the year, even before the release of its flagship Galaxy S8, a report said on Saturday.

According to market research firm IDC, the South Korean tech giant sold about 7.9 million smartphones during the January-March period to account for a market share of 22.8 per

Ambuja Cements net profit jumps 357%

Ambuja Cements Ltd, a part of the global conglomerate LafargeHolcim, on Friday reported a 357 per cent increase in its standalone net profit to Rs 247 crore for the quarter ended March 31, 2017 as compared to Rs 54 crore in the corresponding period of previous financial year.

The jump in net profit was attributed to sharp reduction in depreciation and amortisation expense along tax ex

Ujjivan Small Finance Bank aims Rs 2,500 cr deposits in 2017-18

Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18.

In a view to serving unbanked people, the small finance bank, which commenced its operation two months ago, plans to open 30 branches soon and 171 by end of this financial year.

"We target to mobilis

Kotak Mahindra to buy out Old Mutual stake in Kotak Life

Kotak Mahindra Bank on Friday said it has entered into an agreement to purchase the entire 26 per cent equity held by Old Mutual plc, UK, in Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life) for Rs 1,292.7 crore.

In a statement issued here, Kotak Mahindra Bank said it will buy out the stakes in line with its philosophy to deepen and expand in Indian financial services sector.<

IDFC's Q4 net profit up 4%

IDFC on Friday reported a rise of 3.84 per cent in its consolidated net profit for the fourth quarter of 2016-17.

The company's profit after tax stood at Rs 135 crore as compared to Rs 130 crore in the corresponding quarter of the previous fiscal.

According to the company, the total operating income stood at Rs 731 crore -- up 4.88 per cent -- from Rs 697 crore earned in

Global med-tech firms, India locked in tussle after stent price sting

NEW DELHI/MUMBAI - A group of global medical-technology companies plans to tell Indian officials next month that any further price control measures would risk future investments and make them less likely to introduce new products in the country, according to an industry source familiar with the matter.

The lobbying effort by Abbott Laboratories, Boston Scientific, Joh

Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive.

The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the son o

Ambuja Cements first-quarter profit jumps four fold on higher sales volume

India's Ambuja Cements, part of global conglomerate LafargeHolcim Ltd, on Friday reported an over four-fold surge in first-quarter net profit, as higher cement sales volume and favourable pricing offset rising costs.

Net profit jumped to 2.47 billion rupees ($38.41 million) in the quarter ended March 31, from 535.1 million rupees in the year-ago period, the cement major said. (htt

Federal Bank aims 3.25 percent net interest margin, growth across segments

MUMBAI  - Federal Bank , a mid-sized private sector lender, is targeting a net interest margin of 3.25 percent in the fiscal year that began in April by focusing on growing its books, improving loan recovery and deposit portfolio, its chief executive officer said.

The bank's net interest margin improved to 3.42 percent in the January-March quarter from 3.31 p

Sensex ends lower; posts biggest weekly gain in six

Indian shares ended lower on Friday, retreating from record highs hit this week as investors booked profits ahead of a long weekend, but indexes still posted their biggest weekly gain in six.

The benchmark BSE Sensex ended 0.37 percent lower at 29,918.40, but gained 1.88 percent for the week. The broader NSE Nifty closed down 0.41 percent at 9,304.05, but was up 2 percent for the week

Delhi High Court approves $1.18 billion settlement of Tata-DoCoMo dispute - TV

NEW DELHI -

The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo , allowing the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture, TV news channels reported on Friday.

India's central bank had blocked Tata's offer, saying a rule change in 2016 prevented foreign i

Bank of Maharashtra plans to raise up to Rs 2000 cr

Public-sector lender, Bank of Maharashtra said that is planning to raise equity capital through FPO/Rights issue/QIP etc, up to Rs 2000 crore, subject to the necessary approvals. “The Board of Bank in its meeting to be held on 04th May, 2017 at Pune interalia will consider the proposal of raising of equity capital through FPO/Rights issue/QIP etc., upto Rs.2,000/- crore at an appropriate

CEAT Q4 cons net dips 32.5% at Rs 66 cr

CEAT, a flagship company of the RPG Group, on Friday reported a 32.5 per cent decline in its consolidated net profit at Rs 66 crore for the fourth quarter ended March 31, 2017. The company had posted consolidated net profit of Rs 98 crore during the same quarter last year,” said CEAT in a filing to Bombay Stock Exchange.

The consolidated net sales of company rose by 5.2 per cent

Indiabulls Real Estate Q4 net rises 18.8% at Rs 79.81 cr

Indiabulls Real Estate Ltd reported a growth of 18.8 per cent in it’s consolidated net profit after taxes (PAT) at Rs 79.81 crore for the fourth quarter ended March 31, 2017. The consolidated PAT of the company stood at Rs 67.16 crore during the corresponding period a year ago, Indiabulls Real Estate Ltd said in a regulatory filing to the BSE.

However, its consolidated total inc

Jindal Stainless plans to raise up to Rs 600 cr via NCDs

Jindal Stainless said that it is planning to raise up to Rs 600 crore via non-convertible debentures (NCDs) on private placement basis. The company said in a BSE filing today that its board "approved the proposal" for issuance of NCDs, subject to the approval of the shareholders, for "an aggregate amount of up to Rs 600 crore, in one or more tranches, on a private placement basis

Kotak Mahindra Bank to buy Old Mutual`s stake in insurance arm

Private sector lender Kotak Mahindra Bank (KMB) has said that it is buying out British partner Old Mutual’s entire 26 per cent stake in its life insurance arm for Rs1,292.7 crore. “In line with its philosophy to deepen and expand in Indian financial services, KMB has entered into an agreement to purchase the entire 26% equity stake held by Old Mutual in Kotak Mahindra Old Mutual Lif

Paytm parent One97 set to raise over $1.8 billion from SoftBank - report

One97 Communications, owner of electronics payments provider Paytm, is set to raise more than 120 billion rupees ($1.87 billion) from Japan's SoftBank Group , the Economic Times reported on Friday citing sources.

The deal will value Noida-based One97 at about $9 billion and provide a 20 percent stake to SoftBank, the report said. (http://bit.ly/2pnWH8l)

Moreover, One97 p

Biocon net declines 62% in Q4

India's biotechnology major Biocon Ltd has posted Rs 127 crore consolidated net profit for the fourth quarter (January-March) of fiscal 2016-17 as against Rs 333 crore in the same period year ago, registering a whopping decline of 62 per cent year-on-year (YoY).

In a regulatory filing on the BSE on Thursday night, the city-based pharmaceutical company said consolidated revenue for

HIL net up 37.5 per cent in 2016-17

HIL Ltd of C.K. Birla group has posted Rs 54.6 crore net profit for fiscal 2016-17, registering 37.5 per cent annual growth from Rs.39.7 crore year ago.

In a regulatory filing on the BSE on Thursday, the city-based infrastructure and manufacturing major said net sales or income from operations for the fiscal under review at Rs 1,054 crore was 3.8 per cent lower than Rs 1,096 crore in

Growth in FMCG demand in rural areas to be double digit: Adi Godrej

Godrej Group Chairman Adi Godrej on Thursday said that the rural demand for fast moving consumer goods (FMCG) will likely to have a double digit growth with a good monsoon.

He also said the real estate demand, particularly the residential segment, will start picking from July onward and the Group will focus on affordable housing segment.

"If the monsoon is good, the agr

Reliance Capital Q4 net at Rs 417 crore

Reliance Capital, an Anil Ambani-led Reliance Group company, on Thursday said it closed the fourth quarter of the 2016-17 fiscal with a consolidated net profit of Rs 417 crore as against Rs 415 crore during the corresponding period of the previous year.

According to the company, its total income for the last quarter stood at Rs 5,086 crore, up from Rs 2,828 crore earned during the cor

Negative global cues pull Indian equities lower

Negative global cues and heavy selling pressure in banking and FMCG goods pulled the Indian equity markets lower during the early morning trade session on Friday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 32.65 points or 0.35 per cent to 9,309.50 points.

The barometer 30-scrip BSE Sensex, which opened at 30,064.60 points, traded at 29,954.74 point

Amazon revenue soars as cloud, retail businesses dominate

Amazon.com Inc's retail and cloud-computing sales rose in the first quarter, inching above Wall Street's expectations and sending the company's shares to an all-time high in extended trading.

The world's largest online retailer said on Thursday net sales rose 23 percent to $35.7 billion, just beating analysts' average estimate of $35.3 billion, according to Thomson

Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India  - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive.

The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the