Infosys said its Q2 revenues grew sequentially by 2.9% in USD terms and 2.2% in constant currency terms. It said for the year, revenues are expected to grow 5.5%-6.5% in constant currency, which is lower than its previous guidance. Three months ago, it had maintained sales growth guidance at 6.5-8.5% on a constant-currency basis for […]
Asian Paints reported a 13.7% increase in its revenue for July-September quarter, and said net profit from continuing operations rose 7.5%. “The Decorative business in India registered high single digit volume growth in the current quarter,” said K.B.S. Anand, Managing Director & CEO of the company. “Hence there was a recovery from Q1 which was […]
In a first for the country, pet animals in urban areas of Punjab will be taxed at the rate of Rs 250-500 per head, television channel AajTak reported. UPDATE: The Punjab government has denied the AajTak report and said it had no plans to tax animals or pets. Hindustan Times reported that the government backed […]
GAIL India Ltd said it has started supplying piped natural gas to the city of Bhubaneswar in Odisha. The first phase has started with 255 houses in NALCO Nagar, and will soon be extended to nearby Jeevan Bima Colony and Maitri Vihar Colony covering a total of 1,000 houses, it said. It also said it […]
Cloud-based enterprise software provider Ramco Systems said it won a multi-million dollar order from a big British MNC financial group to provide managed payroll services. Ramco will help the company, part of the FTSE 100 index, to consolidate its payroll operations in 14 countries on a unified platform. It will cover 8500+ employees across Asia […]
Wallet app provider MobiKwik announced a tie-up with IndusInd under which it has launched an app exclusively for the bank’s 10 mln customers. The move is in line with the app company’s strategy to be a partner and solutions provider to traditional financial services companies such as banks, instead of recreating the whole banking infrastructure […]
Wallet players like Paytm, Mobikwik, PhonePe and AmazonPay have come up with cash back offers for Reliance Jio users who want to take advantage of the Rs 399 recharge scheme valid till today midnight. Last week, India’s largest wireless Internet provider said anyone recharging with Rs 399 to get 84 days of ‘free’ usage, will […]
Maruti Suzuki said it sold 1 lakh units of the 2017 Dzire sedan in just five-and-a-half months after it was released, making it the first car ever to do so. Dzire, built over the Swift platform, was initially targeted at those who wanted a roomy sedan with a dicky instead of the stylish hatchback that […]
Life Insurance Corporation of India, the single biggest shareholder in many listed companies in India, has withdrawn its insolvency case against DB Realty Ltd, the real estate developer said. The two companies have executed a debt settlement agreement on Oct 16, DB Realty said. With this, the case against the developer has been withdrawn and […]
Mid-sized IT services provider Persistent Systems reported 4.5% sequential USD revenue growth and 4.6% rupee revenue growth for the September quarter. On a year-on-year basis, dollar revenue rose 12.3%, while rupee revenue was up 8.1%. Operating profit, however, was up only 4.5% on year, but because of the poor performance in the preceding quarter, rose […]
The results of the bypoll held in Vengara assembly constituency in Kerala have confirmed the Congress-led UDF’s worries about losing support in the southern state. The results also showed that the BJP suffered a decline in popularity in Kerala in the last 18 months or so. The election, which comes a year-and-a-half after the last […]
Net bank deposits by non-resident Indians have fallen by nearly 90% so far this financial year as more and more foreign workers dipped into their bank accounts in the face of a crisis in the Gulf region, industry association ASSOCHAM said. Net bank deposits — the difference between total deposits and not withdrawals — came […]
State-owned telecom provider Bharat Sanchar Nigam Ltd will increase the speed cap on all its DSL and Fiber broadband plans to 10 Mbps. At present, most plans have a speed cap of 4 Mbps. However, higher speeds will be available only in areas which are relatively close to the telephone exchange. For example, the ADSL […]
Nila Infrastructures Limited said it got a contract worth Rs 107.3 cr from Jodhpur Development Authority to create 3,152 flats in Barli. The Company will also get 7.5 acres free of cost that can be sold or developed. The township, to be completed in four years, comprise 2,128 flats for economically weaker section at 325 […]
Private players such as Reliance Industries and Essar — owned by Russia’s Rosneft — have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said. From practically nothing in 2014, private players including Shell and […]
Gender activists and others waiting for today’s Supreme Court judgment on the entry of women into Kerala’s Sabarimala temple were slightly disappointed today after the court refused to rule one way or the other, instead referring the matter to a constitutional bench. The bench of Chief Justice of India Dipak Misra and Justices R Banumathi […]
The Reserve Bank of India has imposed a monetary penalty of ₹20 lakh on Religare Finvest for the failure to comply with the directions/orders issued by RBI on an assignment transaction. “An inspection of the company was conducted under section 45N of the RBI Act, 1934 during September-October 2015. During the inspection, it was observed […]
Mid-sized IT services provider Cyient reported revenue growth of 6.7% on quarter to $150.1, an increase of 10.0% on year. Out of this, services revenue accounted for $134.3 Mn, up 4.2% on quarter and 9.2% on year. Operating profit jumped 21.5% on quarter to Rs 21.41 bln. Earnings grew 26.9%to at 21.11 bln. “Q2 FY18 […]
India Ratings, a Fitch company, said it sees no chance for a revival in the fortunes of natural gas-based power generation plants in India. The country saw the setting up of several such plants, especially in Andhra Pradesh, at the turn of the century on expectations of a gas boom from the Krishna Godavari basin […]
Reliance Capital said the IPO of its subsidiary Nippon Life Asset Management will open on Oct 25 and close on Oct 27, with a price band of Rs 247 to Rs 252 per share. The offer will raise about 1,500 cr, out of which about Rs 600 cr will go to the company and the […]
