Maruti Q4 earnings drop 35%, posts best-ever annual profit

Saturday, 26 Apr 2014 | PNS | New Delhi

Continued tough market conditon took a toll on country’s largest carmaker as it reported a 35.46 per cent decline in its net profit at Rs 800.05 crore in the fourth quarter ended December 31.But, for the full financial year 2013-14, the company registered its highest annual net profit. The company had...

Reliance Cap eyes MCX stake, slams bourse for non-cooperation

Saturday, 26 Apr 2014 | PNS | New Delhi

Reliance Capital, which is looking to acquire Jignesh Shah-led Financial Technologies' stake in Multi Commodity Exchange (MCX), has complained to the regulator FMC about “lack of co-operation” and non-sharing of key information by the commodity bourse and the seller. In a strongly-worded letter sent to Forward Markets Commission (FMC), a copy...

Much remains to be done on financial inclusion: Chakrabarty

Saturday, 26 Apr 2014 | PTI | Mumbai

Outgoing Reserve Bank Deputy Governor K C Chakrabarty on Fridaytermed his stint at the central bank as “very satisfactory,” but said there are certain things which still remain unaccomplished, especially on the financial inclusion front. The commercial banker-turn-central banker, who announced his decision to quit last month - two months before...

ICICI Bank Q4 net up 15% at Rs2,652 cr; 35% jump in fee income

Saturday, 26 Apr 2014 | PNS | Mumbai

Backed by healthy growth in non- interest income, ICICI Bank on Friday reported 15 per cent jump in its standalone net profit for the quarter four (Q4) of financial year 2014 (FY14). But asset quality limited the bottom line growth of the country's largest private lender. Net profit on standalone...

Axis Bank net up 18% at Rs1,842 crore

Saturday, 26 Apr 2014 | PNS | Mumbai/ NEW DELHI

Axis Bank on Friday posted a 18 per cent jump in profit at Rs1,842 crore for the fourth quarter ended March 2014.The country's third largest private sector lender had posted a post-tax net of Rs1,555 crore during the corresponding quarter of 2012-13. During the quarter, total income increased to Rs10,178.63...

Nokia completes Microsoft deal without Chennai plant

Saturday, 26 Apr 2014 | PNS | New Delhi

Finally after a month's delay, Finnish handset maker, Nokia announced the completion of the sale of its handset business to software giant Microsoft. Keeping one of its largest facilities, the Chennai manufacturing plant out of the deal, Nokia in its statement said that it expects the value of the transaction...

Chief of Google+ quits after 8 yrs

Saturday, 26 Apr 2014 | PTI | New York

Vivek Gundotra, chief of Google's social networking venture 'Google+', is leaving the Internet company after nearly eight years. Gundotra, who was serving as the Senior Vice President (Social) at Google, announced his departure in a post on Google Plus, a social network that was created about three years ago.“Today I'm announcing...

Mkt nervous on weak rain forecast,steep losses for FMCG shares

Saturday, 26 Apr 2014 | PNS | New Delhi

Forecast of below normal monsoon this year coupled with heavy profit booking dragged the benchmark Sensex down from its new all-time high. Sensex slid by 188.47 points to 22,688.07 after touching a new record high of 22,939.31. Shares of FMCG firms like ITC and HUL, whose sales in rural areas are...

Biocon reports 54.51% dip in consolidated net profit

Saturday, 26 Apr 2014 | PTI | Bangalore

Biocon on Friday reported a 54.51 per cent decline in its consolidated net profit at Rs 113.08 crore for the fourth quarter of the last financial year. The company had posted a net profit of Rs 248.61 crore in the same period of 2012-13, which the company attributed to one-time exceptional...

GMR sticks to $1.4 bn claim for Male contract termination

Saturday, 26 Apr 2014 | PTI | New Delhi

With a legal tussle on between the Maldivian Government and GMR over termination of a contract to develop Male international airport, the Indian infrastructure firm today said it stood by its compensation claim of $1.4 billion. The two sides are currently in arbitration before the Singapore Court of Appeal and preliminary...


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Business Corner

18 Mar 2018 | PNS

AAI conducts international workshop for utilizing GAGAN In keeping with the Prime Minister’s objective of using technology as a means of development and co-operation, Airports Authority of India has now offered GPS-aided Geo Augmented Navigation (GAGAN) to SAARC and Southeast Asian countries in order to allow them to reap the significant benefits that accrue from such an advanced navigation system. AAI conducted a two-day workshop on March 15 and 16, 2018...

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Bank shooting: ‚ÄėGuard not properly trained‚Äô

20 Mar 2018 | PNS | Dehradun

Police investigation in the case of a security guard of district cooperative bank in Champawat shot dead two of his colleagues following an altercation on March 16 revealed that the guard Dinesh Bora contracted through a local security agency was not properly trained. Bora had reportedly shot dead the bank cashier Lalit Bisht and peon Rajesh Verma at the bank in Khetikhan...

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