Bodal Chemicals Q2 net profit down 23.11% at Rs 26.18 cr

The company reported standalone net profit of Rs 26.18 crore for the quarter ended September 30, 2017 as compared to Rs 34.05 crore in the same period last year, registering a year-on-year decline of 23.11 per cent. Net revenue of the company declined moderately by 19.89 per cent at Rs 262.51 crore in July-September quarter of this fiscal as against Rs 327.70 crore in the corresponding period l

DCM Shriram Industries Q2 net profit down 32.89%

The company reported standalone net profit of Rs 21.30 crore for the quarter ended September 30, 2017 as compared to Rs 31.74 crore in the same period last year, registering a year-on-year decline of 32.89 per cent. Net revenue of the company rose moderately by 19.38 per cent at Rs 421.49 crore in July-September quarter of this fiscal as against Rs 353.06 crore in the corresponding period last

Equity indices close lower after volatile trade session

After a volatile trade session, the key Indian equity indices on Wednesday provisionally closed on a lower note as investors booked profits in metals, capital goods and banking stocks.

According to market observers, the benchmark indices gave up all their morning gains to close in the red for the second day in a row as traders were cautious ahead of the US Federal Reserve's policy

Kirloskar Electric posts Q2 net loss of Rs 23.17 cr

The company reported standalone net loss during the quarter stood at Rs 23.17 crore as compared to net loss of Rs 12.50 crore in the previous year quarter. Net revenue of the company declined substantially by 34.21 per cent at Rs 83.69 crore in July-September quarter of this fiscal as against Rs 127.20 crore in the corresponding period last year.

During July-September quarter, operati

Panasonic launches Eluga I9 for Rs 7,499

Panasonic India on Wednesday expanded its Eluga range by launching Eluga I9 smartphone with 2.5D curved screen for better picture quality and enhanced viewing experience for Rs 7,499.

The 4G VoLTE-enabled smartphone features a 5-inch HD display and an eight-hour video Playback support for content consumption with its 2,500 mAh battery. The device will be available from December 15 on

Ashapura Minechem posts Q2 net loss of Rs 10.15 cr

The company reported standalone net loss during the quarter stood at Rs 10.15 crore as compared to net loss of Rs 12.04 crore in the previous year quarter. Net revenue of the company declined moderately by 14.42 per cent at Rs 49.20 crore in July-September quarter of this fiscal as against Rs 57.49 crore in the corresponding period last year. During July-September quarter, operating expenses dr

Sundaram Multi Pap posts Q2 net loss of Rs 16.89 cr

The company reported standalone net loss during the quarter stood at Rs 16.89 crore compared to net profit of Rs 1.38 crore in the previous year quarter.  Net revenue of the company rose substantially by 70.16 per cent at Rs 26.12 crore in July-September quarter of this fiscal as against Rs 15.35 crore in the corresponding period last year. During July-September quarter, operating expenses

CCCL Q2 loss narrows to Rs 17.33 cr

Consolidated Construction Consortium (CCCL) on Tuesday reported standalone net loss of Rs 17.33 crore during the quarter ended September 30, 2017, as compared to net loss of Rs 34.57 crore in the previous year quarter. “Net revenue of the company declined moderately by 10.18 per cent at Rs 113.86 crore in July-September quarter of this fiscal as against Rs 126.77 crore in the correspondin

Bank of Maharashtra to raise Rs 313.55 cr via QIP

State-run lender Bank of Maharashtra (BOM) on Tuesday said its board has approved allotment of over 12 crore shares under Qualified Institutional placement to raise up to Rs 313.55 crore.

"In respect of the qualified institutions placement (QIP), the Equity Issue Committee of the Board of Directors of the bank at its meeting held today approved the allotment of 12,27,21,827 equit

Neuland Labs completes acquisition of API plant

Drug maker Neuland Laboratories on Tuesday said that it has completed the purchase of a manufacturing facility owned by Arch Pharmalabs located at Gaddapotharam, near Hyderabad, for an undisclosed amount.

As on November 22, 2017, the Board of Directors of the Company has approved the deal for purchase of a manufacturing facility, comprising of land, buildings, plant, machinery and equ

Supreme Court halts government takeover of Unitech management

NEW DELHI  - India's Supreme Court halted on Wednesday a government takeover of the management of realty firm Unitech Ltd, while it was dealing with dozens of petitions over the company's failure to deliver apartments and honour its deposits.

The National Company Law Tribunal (NCLT), which deals with insolvency and company disputes, last week allowed the

Boeing to make aircraft components near Bengaluru

Global aerospace major Boeing would make aircraft components and subsystems at a new facility it would soon set up on the city's outskirts, a senior official said on Tuesday.

"The state government on Monday approved Boeing's proposal to set up an engineering and technology facility with electronics and avionics manufacturing and assembly at an investment of Rs 1,152 crore

Infosys to offer back-office service on Tradeshift platform

Software major Infosys' back office arm on Tuesday said it would offer business process management expertise in finance, accounting and procurement domains on Tradeshift's cloud-based platform.

"Our partnership with Tradeshift will enable clients to digitise their source-to-pay and other supply chain processes," said the IT major in a statement here.

As the

SpiceJet to launch six new frequencies

Budget passenger carrier SpiceJet on Tuesday said that it will launch six new frequencies to cater to the surge in demand.

According to the airline, new seasonal flights will be effective from December 22, 2017 and will continue till February 5, 2018.

"The airline will operate the new daily direct flights on the Chennai-Kochi, Chennai-Kolkata and Kolkata-Port Blair rout

Markets open in red on Wednesday

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.

The Sensex of the BSE after opening at 33,229.73 points touched a high of 33,248.92 and low of 33,123.44 points.

On Tuesday the Sensex closed at 33,227.99 points.

The Sensex is trading at 33,179.21 points down by 53.56 points or 0.16 per cent.

InterGlobe Aviation founders to sell 2.91 percent stake for $197 million

InterGlobe Aviation Ltd, the owner of India's biggest airline IndiGo, on Tuesday said two of its founder group companies will in this week sell a combined 2.91 percent stake in the company worth about 12.65 billion rupees ($196.5 million).

Acquire Services Pvt Ltd plans to sell about 8 million shares in InterGlobe while IGE (Mauritius) Pvt Ltd will offload 3.2 million shares in a

Syndicate Bank seeks up to $186.4 million in share sale - sources

MUMBAI- Indian state-run Syndicate Bank Ltd has launched a share sale to institutional investors, seeking to raise up to 12 billion rupees ($186.4 million) to help boost its capital ratio, sources with direct knowledge said on Tuesday.

The deal has a base size of up to 7 billion rupees with an upsize option of up to 5 billion rupees, the sources said, adding the bank

Warburg Pincus to acquire 20% stake in Airtel`s DTH arm for $350 million

Bharti Airtel and Warburg Pincus, a global private equity firm, on Tuesday announced that an affiliate of Warburg Pincus will acquire up to a 20 per cent equity stake in Bharti Telemedia Limited, the DTH arm of Airtel, for approximately $350 million.

In this deal 15 per cent stake will be sold by Bharti Airtel and the balance by another Bharti entity which holds 5 per cent stake, a co

SEBI probes prescient messages in WhatsApp groups

MUMBAI  - The Securities and Exchange Board of India (SEBI) is "seriously" looking into the issue of prescient messages on company results circulated by market insiders in private WhatsApp groups, its chairman said on Tuesday, a sign the investigation is gaining momentum.

The comments by SEBI Chair Ajay Tyagi come weeks after a Reuters investigation doc

IOC shuts FCCU at Paradip refinery after fire

NEW DELHI - Indian Oil Corp has shut the fluidised catalytic cracking unit (FCCU) at its Paradip refinery, a company spokesman said. FCCU was shut after a fire broke out at a nearby facility at about 1100 hours local time. The east coast refinery has a capacity of 300,000 barrels per day

(Reporting by Nidhi Verma; editing by Jason Neely)

Reliance considers listing telecoms unit Jio by early 2019: Bloomberg

MUMBAI  - India's Reliance Industries Ltd is holding internal talks about listing its telecoms unit Jio by late 2018 or early 2019, Bloomberg reported on Tuesday, citing people it did not identify.

A Reliance spokesman said the article was "speculative", and said the company did not comment on media speculation and rumours as a matter of policy.

Jharkhand gives 175 acres to Adani Power

The Jharkhand government on Tuesday gave 174.84 acres of acquired land to Adani Power Ltd to set up a 1600 MW power plant in the state.

Jharkhand Chief Secretary Rajbala Verma handed over the documents of the land to Adani Power CEO Rajesh Jha at the state secretariat. The company needs 970 acres to set up the plant in Godda district.

"This power plant will generate 10,

Caution ahead of macro-data release subdue key indices

Caution ahead of macro-data release subdue key indices

Key Indian equity indices on Tuesday were dragged lower by heavy selling pressure in interest sensitive stocks like banking, auto and capital goods.

According to market observers, investors traded with caution ahead of the release of macroeconomic data points -- the Consumer Price Index (CPI) and Index of Industrial Prod

Bhagawati Oxygen Q2 net profit down 40.00% at Rs 0.12 cr

The company reported standalone net profit of Rs 0.12 crore for the quarter ended September 30, 2017 as compared to Rs 0.20 crore in the same period last year, registering a year-on-year decline of 40.00 per cent. Net revenue of the company declined moderately by 10.86 per cent at Rs 1.97 crore in July-September quarter of this fiscal as against Rs 2.21 crore in the corresponding period last ye

Sambandam Spinning Mills Q2 net profit down 90.02%

The company reported standalone net profit of Rs 0.57 crore for the quarter ended September 30, 2017 as compared to Rs 5.71 crore in the same period last year, registering a year-on-year decline of 90.02 per cent. Net revenue of the company declined moderately by 12.45 per cent at Rs 38.11 crore in July-September quarter of this fiscal as against Rs 43.53 crore in the corresponding period last