Indraprastha Gas Ltd. Q4 net up 23% on higher sales

The state-run Indraprastha Gas Ltd (IGL) supplying cooking gas and vehicle fuel to Delhi, Noida, Greater Noida and Ghaziabad has reported a 23 per cent rise in net profit for the fourth quarter ended March at Rs 133.5 crore, buoyed by better turnover and sales.

The supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the National Capital Region had posted a net

Reliance Communication`s Q4 consolidated revenues at Rs 4,524 cr

 Reliance Communications' consolidated revenues for the fourth quarter of 2016-17 stood at Rs 4,524 crore, down 8.1 per cent, a company statement said here on Saturday.

The earnings before interest, tax, depreciation and amortization (EBITDA) margin declined to 24 per cent, compared to 24.5 per cent in the quarter before, the statement said.

The statement

Rates and results to guide equity markets

Macro-economic data points, along with quarterly results and a decision on the Goods and Services Tax (GST) sub-rates on gold, will form the major themes for the Indian stock markets during the upcoming week, market observers say.

Already at dizzying heights, potential triggers like news on monsoon progress, global geo-political situation and crude oil prices could unleash "

Reliance Communications hit by Indian mobile price war

By Sankalp Phartiyal

MUMBAI - Indian mobile phone network operator Reliance Communications Ltd posted its second straight quarterly loss on Saturday, hit by the price war which has broken out in the world's second-biggest mobile market by number of users.

The launch last year of rival Reliance Industries' new Jio 4G broadband service with free voice

Fairfax Financial to sell 12.2 percent of ICICI Lombard

MUMBAI - Canada's Fairfax Financial Holdings plans to sell a 12.2 percent stake in its Indian joint venture insurer ICICI Lombard in a deal that will value the company at 203 billion rupees ($3.15 billion), the Indian company said on Saturday.

Red Bloom Investment Ltd, a company wholly owned by private equity investment funds managed by Warburg Pincus, is buying a

Adani Power's consolidated Q4 net loss at Rs 4,960.53 cr

 Adani Power on Saturday reported a consolidated net loss of Rs 4,960.53 crore for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net loss during the quarter under review stood at Rs 4,960.53 crore from a profit of Rs 1,021.19 crore in the corresponding period of 2015-16.

The consolidated net profit for the quarter was hit by th

Nalco records Rs 268 cr profit in Q4

National Aluminium Company Limited (Nalco) said on Saturday that it registered a growth of 25.23 percent with a net profit of Rs 268 crore in the fourth quarter of 2016-17 against Rs 214 crore during the same period of the previous fiscal.

However, the standalone net profit for the full fiscal year has dropped.

The company has posted a net profit of Rs 669 crore, c

Government mulling exiting Air India: Arun Jaitley

Finance Minister Arun Jaitley on Saturday said the government was considering exiting Air India operations.

"There are many private airlines like Jet Airways, IndiGo, GoAir. If 86 per cent of the aviation market can be handled by private sector, then 100 per cent can also be handled by the private sector," Jaitley told DD News in an interview. 

Natio

JSPL commissions Odisha`s largest integrated steel plant

 Jindal Steel and Power Ltd (JSPL) on Saturday made operational the largest integrated steel plant of Odisha with the commissioning of the country's largest blast furnace at Angul.

The Angul steel plant has been expanded from two million tonne per annum (MTPA) to six MTPA. With the commissioning of the blast furnace, JSPL became India's fourth largest steelmaker afte

Sensex, Nifty mount new peaks, investors bullish on robust earnings

Amidst cross-border tensions with Pakistan and geo-political worries, the Indian equity markets closed the week's trade in a celebratory mood, with the benchmark BSE Sensex and NSE Nifty touching fresh record highs of 31,000 and 9,600 points respectively.

Markets observers opined that robust corporate results, rupee appreciation and expectations of further economic reforms from th

DLF's Q4 consolidated net profit at Rs 136 cr

Real estate major DLF on Friday reported a consolidated net profit of Rs 136 crore for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net profit during the quarter under review stood at Rs 136 crore from a loss of Rs 181 crore in the corresponding period of 2015-16.

However, the real estate major's consolidated revenue for the fourth quart

Telcos need to rejig their costing, prices under GST: Government

After the Goods and Services Tax (GST) regime comes into effect, the telecom companies will need to re-work their costing and prices, the Finance Ministry said on Friday.

"After GST regime, telecom companies would be required to re-work their costing and credits' availability and rejig their prices and ensure that the increased availability of credit is passed on to the custo

Amul to start operations in Bihar, Assam

The Kaira District Co-operative Milk Producers' Union -- the makers of Amul -- is setting up a Rs 250-crore processing plant in West Bengal, and is expanding operations in the state's districts and also foraying into Bihar and Assam, officials said here on Friday.

"We are expanding milk procurement operations in districts like Malda, Darjeeling, Howrah and East Midnapore

Tata Chemicals posts 32% rise in Q4 net profit

Tata Chemicals on Friday reported close to 32 per cent rise in its consolidated net profit to Rs 343.02 crore in the fourth quarter ended March 31, 2017, from Rs 260.21 crore in the corresponding period a year ago.

The company's revenue from operations, however, saw a 15.8 per cent fall to Rs 3,002.33 crore during the quarter from Rs 3,565.20 crore in same period in the previous f

ITC net profit up 12.1 per cent in Q4

Cigarette-to-hotel-to-FMCG major ITC Ltd on Friday posted a 12.13 per cent rise in its standalone net profit to Rs 2,669.47 crore for the quarter ended March 31, 2017, from Rs.2,380.68 crore in the year ago period.

The diversified company's revenue from operation during the quarter increased to Rs 15,008.82 crore from Rs 14,138.78 crore in the corresponding period of the previous

New Sustainability Index from S&P BSE expected in 2017-18

Asia Index Pvt Ltd, a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, is planning to introduce a new Sustainability Index in India aiming to capture holistic sustainability parameters, a top company official said here on Friday.

According to the official, the new index is expected in the current fiscal. S&P BSE Indices have two sustainability indices -- S&P BS

Sun Pharma says 2018 sales may fall as U.S. market gets tougher

By Zeba Siddiqui

MUMBAI - India's largest drug group Sun Pharmaceutical Industries Ltd said on Friday its U.S. sales might fall this year because of pressure on drug prices, signalling tough market conditions in the United States for generic drugmakers.

"The U.S. generics industry is facing rapidly changing market dynamics, (and) increased competiti

Indian Hotels' MD and CEO Sarna resigns

Mumbai,  Tata Group promoted Indian Hotels Company on Friday said that its Managing Director and Chief Executive Officer Rakesh Sarna has resigned for personal reasons.

According to the company, the Board of Directors of Indian Hotels Company (IHCL) has accepted the resignation of Sarna, who will continue in his current position till September 30, 2017.

ONGC reports 6 percent fall in fourth-quarter net profit

MUMBAI - Oil and Natural Gas Corporation Ltd  India's biggest hydrocarbon explorer, reported a 6 percent fall in fourth-quarter net profit to 43.40 billion rupees ($673 million) hurt by a one-time provision.

Analysts on average had expected a profit of 49.91 billion rupees.

Total income of 262.34 billion rupees was up almost 30 percent on highe

Government to hire five banks for up to $993 million IOC share sale

MUMBAI- The government is set to hire Citigroup, Deutsche Bank, Goldman Sachs, ICICI Securities and SBI Capital for a 3 percent stake sale in Indian Oil Corp  that could raise as much as 64 billion rupees ($993 million), IFR, a Thomson Reuters publication, reported on Friday.

The government owns 58.3 percent of IOC, the country's biggest state-owned oil refin

Tech Mahindra net down 33% in Q4

Software major Tech Mahindra on Friday reported Rs 590 crore consolidated net profit for the fourth quarter of 2016-17, registering 33 per cent decline from Rs 876 crore in the same period last year.

In a regulatory filing on the BSE, the city-based IT firm said consolidated revenue for the quarter under review grew 9.9 per cent to Rs 7,733 crore from Rs 7,039 crore in the same period

India`s BSE index ends above 31,000, sets record

REUTERS - The benchmark BSE Sensex rallied on Friday to end above 31,000 for the first time, as higher derivatives rollover led to strong follow-up buying in index heavyweights such as Reliance Industries and ITC Ltd .

The Sensex closed up 0.9 percent at 31,028.21, after hitting a high of 31,074.07.

T

ITC fourth-quarter profit up marginally, misses estimates

Diversified consumer company ITC Ltd posted a 12 percent growth in March-quarter profit as its biggest segment, cigarettes, witnessed growth in sales.

Profit rose to 26.69 billion rupees ($413.93 million) in the fourth quarter ended March 31, from 23.81 billion rupees a year earlier, the conglomerate said on Friday. http://bit.ly/2rnMf4i

Analysts on average expected the comp

Hindustan Petroleum March-quarter profit beats estimate

 State-run oil marketing company Hindustan Petroleum Corp Ltd  reported a 31 percent jump in March-quarter net profit on Friday, beating street estimates, as income from operations grew.

Net profit rose to 18.19 billion rupees ($282.12 million) in the fourth quarter ended March, from 13.88 billion rupees a year earlier, the company said in a statement. 

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