Private sector lender Axis Bank reported a loss of Rs 2,189 cr for the Jan-Mar quarter, hit by costs that rose faster than revenues as well as higher provisions to account for eventualities. For the quarter, the company’s interest income increased by Rs 603 cr on year, but the interest that it paid out on […]
DB Corp, the publisher of newspapers such as Dainik Bhaskar, reported a sharp decline in its profits for the fourth quarter due to rising operating costs, particularly those related to raw materials. The company, however, was able to report a 10% year-on-year increase in its total revenue due to its strategy of rapidly growing its […]
The Indian National Congress has officially lent its support to the Janata Dal (Secular) led by HD Kumaraswamy to form the next government at the center. This was revealed by Congress Party’s local leadership. “It is for them to take a decision, we have extended our support,” said a Congress party spokesperson in Bangalore. “The […]
KARNATAKA ELECTION RESULTS – 2018 2018 Vote Share% 2013 Vote Share% BJP 105 36.5 40 19.9 INC 76 37.9 122 36.6 JDS 39 18.1 40 20.2 OTHERS 2 NA 2 NA Refresh The Bharatiya Janata Party is all set to fall temptingly short of the halfway mark in Karnataka Legislative Assembly, making it more […]
Politician Shashi Tharoor said his wife would never commit suicide, and termed the charges of abeting her suicide “unbelievable”. “I have taken note of the filing of this preposterous charge sheet & intend to contest it vigorously,” Tharoor said. “No one who knew Sunanda believes she would ever have committed suicide, let alone abetment on […]
India has withdrawn its decision to impose a duty of 7.5% (effectively around 10%) on imports of solar modules, and this could give a shot in the arm for the solar power industry, according to India Ratings. The move could also help achieve the government’s target of achieving total, grid-connected solar power capacity of 100 […]
Two companies belonging to the Aditya Birla Group issued clarifications that they were not impacted by an attempted hacking of computers as reported in media reports. Telecom services provider Idea Cellular and financial services firm Aditya Birla Capital said they were not impacted. However, a third firm, Ultratech Cement, said there was an attempt “to […]
Kishore Biyani, head of Future Group, outlined mega expansion plans for his retailing business for the next 12-15 months in the context of the entry of WalMart into India’s retailing sector. “Our plan is to add 1,000 small stores over the next 12-15 months,” Biyani told CNBC-TV18 in an interview. “Our plan is to open […]
Low-cost airline SpiceJet reported a resilient set of numbers for the Jan-Mar quarter despite increasing fuel prices, posting its 13th quarterly profit in a row. Despite worries over rising crude prices, the company managed a slight increase in its net profit to Rs 40.5 cr from Rs 38.6 cr a year ago. SpiceJet said the […]
Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into a news report that quoted Future Group founder Kishore Biyani […]
Parag Milk Foods, the maker of Gowardhan butter and cheese, reported pretax profits that more than doubled on year, benefiting from the higher leverage afforded by sales that went up by 21% on year. On a sequential basis, however, the company’s performance in Jan-Mar quarter was largely comparable to that of Oct-Dec. Operating profit (EBITDA) […]
Arvind Limited, one of the largest integrated textile and branded apparel players, reported an improved set of results for the Jan-Mar quarter, boosted by strong revenue growth. Pretax profit rose by Rs 32 cr (29%) on year to 142 cr. This was also 57% higher compared to the preceding quarter. Higher tax expenses (Rs 26 […]
Pharma player Strides Shasun said it has agreed in principle to merge its Australian business with the Australian operations of peer Apotex. Both have substantial businesses in Australia; Strides under the Arrow brand and Apotex under its primary brand. The merger will enable Strides, through the merged business, to become the leading player in the […]
India’s largest carmaker Maruti Suzuki unveiled a new look for Vitara Brezza, one of the most successful cars in its history. The company also announced that it is selling around 12,300 units per month, making it the most popular SUV in India. “The exterior and interior features have been given a makeover, enhancing the bold […]
Manpasand Beverages said it has inked a distribution tie-up with Parle Products, one of India’s largest food and beverage companies, for the Western Indian market. The move comes after a similar agreement for eastern India helped Manpasand increase its reach. Through this partnership, Manpasand Beverage said, it will have access to 45 lakh outlets pan-India […]
Adding yet another key win to their orderbook, Anil Ambani Group’s Reliance Infrastructure and partner Astaldi of Italy have won the prestigious Versova-Bandra sea link project at a cost of Rs 6,993.99 cr. They beat big names like joint ventures of Larsen & Tourbo and Samsung, as well as Hyundai and ITD. This is the […]
Reliance Jio has updated its website, jio.com, with a single, prepaid fiber broadband plan. “Currently our JioFiber services are Prepaid. We plan to launch the JioFiber Post-paid in due course of time,” the company said on its website. Under the single, prepaid plan, a user can get a monthly data quota of 100 GB as […]
Dish TV, India’s oldest direct-to-home service, has started using the satellite feed of Videocon D2h for its new customers in South India, more or less doubling the number of South Indian channels available on the platform. With this, the number of Tamil channels on Dish TV has jumped to 88, including 4 in HD, compared […]
Real Estate player Godrej Properties said Singapore-based Gamnat Pte Ltd wil invest Rs 1,000 cr in the company. The investment will be carried out at a share price of Rs 783.50, roughly equal to today’s opening price. Shares of the company shot up to Rs 813.55 after the news was announced, and are currently trading […]
Personal care products maker Emami Ltd reported a 12% growth in fourth-quarter revenue, but profit levels were impacted to due to a sharp increase in material costs and the write-off of a tax credit. The company posted revenue of Rs 617 cr for the quarter, but net profit fell to Rs 60 cr from Rs […]
