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Business News

  • RBI imposes penalty of Rs 5 cr on Bank of Baroda

    RBI imposes penalty of Rs 5 cr on Bank of Baroda  

    "The Reserve Bank of India has imposed a penalty of INR 50 million on Bank of Baroda... Pursuant to the internal audit of the Bank of Baroda, the Reserve Bank of India and investigative agencies in October 2015 were advised by the...

    25 Jul 2016, 12.00 pm  |  Source: PTI

  • GAIL, Gazprom renegotiating LNG deal, says sources

    GAIL, Gazprom renegotiating LNG deal, says sources   

    Shipments under the deal, initially expected to start in 2018/2019, are linked to crude oil prices which are rising while gas prices are expected to stay subdued for longer as major new production plants in Australia and the Unite...

    25 Jul 2016, 11.42 am  |  Source: Reuters

  • Oriental Carbon & Chem explains why effective tax rate is higher

    Oriental Carbon & Chem explains why effective tax rate is higher   

    Speaking to CNBC-TV18 Anurag Jain of Oriental Carbon & Chemical said that the demand was better in first quarter was better than the previous quarter.

    25 Jul 2016, 11.41 am  |  Source: CNBC-TV18

  • Glenmark gets FDA nod for skin ointment

    Glenmark gets FDA nod for skin ointment  

    "Glenmark Pharmaceuticals Inc, USA has been granted final approval by the US Food and Drug Administration (USFDA) for triamcinolone acetonide ointment USP, 0.5 percent," it said in a BSE filing.

    25 Jul 2016, 11.38 am  |  Source: PTI

  • Govt invites merchant bankers to manage NBCC share sale

    Govt invites merchant bankers to manage NBCC share sale  

    The government will appoint up to three merchant bankers for the share issue, which could fetch about Rs 2,200 crore to the exchequer at the current market price.

    25 Jul 2016, 11.28 am  |  Source: PTI

  • Managing portfolio quality crucial to growth: Equitas Holdings

    Managing portfolio quality crucial to growth: Equitas Holdings   

    Riding on the back of a good first-quarter performance, N Vasudevan, Managing Director of Equitas Holdings, says there is large unmet demand in the microfinance space which can be capitalised upon going ahead.

    25 Jul 2016, 11.09 am  |  Source: CNBC-TV18

  • Volumes likely to grow in double-digits for FY17: Havells India

    Volumes likely to grow in double-digits for FY17: Havells India   

    Anil Rai Gupta, Chairman and Managing Director, Havells India, said all of the company's verticals, except cables, saw 20 percent growth in the quarter.

    25 Jul 2016, 11.07 am  |  Source: CNBC-TV18

  • L&T Fin expects rural margins to grow on back of microfin biz

    L&T Fin expects rural margins to grow on back of microfin biz   

    In a post earnings interview, YM Deosthalee, Chairman of L&T Finance Holdings said that the whole entity has been restructured and the business is now divided in to three key focus areas - rural, housing and wholesale book segment...

    25 Jul 2016, 10.54 am  |  Source: CNBC-TV18

  • UFO Moviez sees ad revenues growing over 30% YoY

    UFO Moviez sees ad revenues growing over 30% YoY   

    Speaking to CNBC-TV18 Kapil Agarwal, Joint MD of UFO Moviez, said that 3i Research (Mauritius) is fully divested in the company.

    25 Jul 2016, 10.38 am  |  Source: CNBC-TV18

  • Optimistic on demand outlook in FY17: Persistent Systems

    Optimistic on demand outlook in FY17: Persistent Systems   

    Persistent Systems reported a 3.6 percent rise in rupee revenue to Rs 701.8 crore while its profit after tax fell 9.3 percent to Rs 73.2 crore. However, the company’s margins contracted by 80 basis points to 15.1 percent in the ...

    25 Jul 2016, 10.31 am  |  Source: CNBC-TV18

  • Thyrocare hopeful of growing revenues 25% in FY17

    Thyrocare hopeful of growing revenues 25% in FY17   

    Thyrocare’s revenue grew 21.7 percent to Rs 69.36 crore and operating profit margins improved to 39.4 percent in the first quarter of FY17.

    25 Jul 2016, 10.18 am  |  Source: CNBC-TV18

  • Forever Mark eyes 30% sales growth in India this year

    Forever Mark eyes 30% sales growth in India this year  

    "In India the demand has been explosive over the years. We saw about 35 per cent growth in 2015 in India but this year we are cautious with our estimates as the first half was hampered with jewellers strike that affected sales," F...

    25 Jul 2016, 9.52 am  |  Source: PTI

  • Jmatek plans to make India its export hub for SE Asia, Africa

    Jmatek plans to make India its export hub for SE Asia, Africa  

    The company, which is planning to invest Rs 100 crore to set up a design and development center and a new production unit, would also expand its presence in the domestic market with its range of AirTek aircoolers and dehumidifiers...

    25 Jul 2016, 9.52 am  |  Source: PTI

  • Wagh Bakri eyes Rs 1,150 cr turnover this fiscal

    Wagh Bakri eyes Rs 1,150 cr turnover this fiscal  

    With a better monsoon forecast for this year, the company aims to have a good fiscal after a lean period of 2-3 years.

    25 Jul 2016, 9.52 am  |  Source: PTI

  • Malaysian PM vows to strengthen trade ties with India

    Malaysian PM vows to strengthen trade ties with India  

    The event was organised by the Malaysia Kongu Tamilar Association, which represents 80,000 of the 200,000 Kongu Tamilar in the country.

    25 Jul 2016, 9.20 am  |  Source: PTI

  • Himalaya plans scaling up e-comm biz, targets Rs 100 cr by 2018

    Himalaya plans scaling up e-comm biz, targets Rs 100 cr by 2018  

    The Rs 2,000-crore company launched sales through its online portal himalayahealthcare.com in 2008, which it subsequently rebranded to himalayastore.com.

    25 Jul 2016, 9.20 am  |  Source: PTI

  • IndoStar Capital to launch housing finance arm soon

    IndoStar Capital to launch housing finance arm soon  

    "Four months ago, we applied for a home finance licence with the National Housing Board. We expect to get the permission in a month or so. If we get it by September, we hope to launch a home finance subsidiary by the later part of...

    25 Jul 2016, 9.18 am  |  Source: PTI

  • Cairn India deal to lift Vedanta`s rating & capex: Axis Cap

    Cairn India deal to lift Vedanta's rating & capex: Axis Cap   

    The deal will help Vedanta reduce its net debt, give access to Cairn's cash balance of about USD 3.5 billion, besides giving auxillary benefits such as improvement of credit rating and capex, says Nitesh Jain of Axis Capital.

    25 Jul 2016, 9.10 am  |  Source: CNBC-TV18

  • Improving asset quality led to lower Q1 slippages: Federal Bank

    Improving asset quality led to lower Q1 slippages: Federal Bank   

    The bank reported a 18.3 percent rise in net profit to Rs 167 crore in the first quarter while the gross non-performing assets (NPA) grew to 2.92 percent as against 2.84 percent quarter-on-quarter.

    25 Jul 2016, 9.08 am  |  Source: CNBC-TV18

  • Byju`s in advanced talks with investors to raise $50 mn

    Byju's in advanced talks with investors to raise $50 mn  

    The raised funds will be deployed to fuel international expansion and inorganic growth through global acquisitions, the company said in a press release.

    25 Jul 2016, 8.14 am  |  Source: PTI

  • Focussing on getting stuck projects operationalised: Essar Power

    Focussing on getting stuck projects operationalised: Essar Power  

    The company is burdened with Rs 20,369 crore debt and is evaluating possibilities of reducing it.

    25 Jul 2016, 8.14 am  |  Source: PTI

  • Tata Metaliks Rs 65 cr DI pipes capex to boost topline

    Tata Metaliks Rs 65 cr DI pipes capex to boost topline  

    "The capex of Rs 65 crore was done from internal generation to enhance DI pipe capacity by 50 per cent to help boost revenue," company officials told PTI.

    25 Jul 2016, 7.36 am  |  Source: PTI

  • Top seven cos add Rs 27,904 crore in market valuation

    Top seven cos add Rs 27,904 crore in market valuation  

    The combined market valuation of seven of the top 10 most valued Indian companies swelled by Rs 27,904 crore last week, with TCS leading the pack.

    24 Jul 2016, 3.30 pm  |  Source: PTI

  • Govt to set up a special court for all NSEL-related cases

    Govt to set up a special court for all NSEL-related cases  

    Government today decided to set up a special court to hear all NSEL related cases on a priority basis while also asked the Enforcement Directorate to expedite action to recover Rs 3,721 crore from defaulters, and regulator Sebi to...

    24 Jul 2016, 3.00 pm  |  Source: PTI

  • Q1 earnings to remain in focus; mkts to see volatility: Experts

    Q1 earnings to remain in focus; mkts to see volatility: Experts  

    Next batch of quarterly earnings from blue-chips Maruti Suzuki, HDFC and ICICI Bank, progress of monsoon and developments in Parliament regarding GST Bill would remain in focus for stock market this week, which is likely to see bo...

    24 Jul 2016, 2.26 pm  |  Source: PTI

  • Steel demand to grow 6% in FY17, outlook bright: JSW Steel

    Steel demand to grow 6% in FY17, outlook bright: JSW Steel  

    JSW Steel expects domestic steel demand to grow by about 6% in 2016-17, adding that the long-term outlook for the sector continues to be bright.

    24 Jul 2016, 1.48 pm  |  Source: PTI

  • RIL, BP spend Rs 4,500 cr to maintain gas output at KG-D6

    RIL, BP spend Rs 4,500 cr to maintain gas output at KG-D6  

    Reliance Industries and its partner BP plc of UK have invested over Rs 4,500 crore in the flagging eastern offshore KG-D6 block to maintain gas output at current level despite the steep natural decline that has set in in the seven...

    24 Jul 2016, 1.48 pm  |  Source: PTI

  • Lenders planning S4A breather for Alok Industries

    Lenders planning S4A breather for Alok Industries  

    SBI-led lenders to the troubled textile manufacturer Alok Industries are considering restructuring of over Rs 18,000-crore debt under the S4A (scheme for sustainable structuring of stressed assets), sources said.

    24 Jul 2016, 1.48 pm  |  Source: PTI

  • Essar Power may sell gas-based plants in Gujarat to pare debt

    Essar Power may sell gas-based plants in Gujarat to pare debt  

    Burdened by a whopping Rs 20,369 crore debt, private utility Essar Power is looking to sell two of its gas-based plants in Gujarat to reduce debt, a senior company official said.

    24 Jul 2016, 1.48 pm  |  Source: PTI

  • Boeing to deliver 2 Dreamliners to Air India this year

    Boeing to deliver 2 Dreamliners to Air India this year  

    US aircraft maker Boeing will deliver two Dreamliners to Air India this year and four more next year to complete the airline's order of 27 of these aircraft, even as the national carrier grapples with glitches in its fleet of 787-...

    24 Jul 2016, 12.40 pm  |  Source: PTI

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