Ashok Leyland bags Karnataka order for over 3,000 buses

 Hinduja Group's flagship company Ashok Leyland on Monday said that it has bagged an order for 3,019 buses worth Rs 650 crore.

According to the company, the order has come from the Karnataka State Road Transport Corporation (KSRTC).

"This order, one of the largest from a state transport undertaking for a single OEM (original equipment manufacturer), w

Ambuja Cements June-quarter consolidated profit rises 12 percent

Ambuja Cements Ltd, part of the world's No.1 cement producer LafargeHolcim Ltd, posted an about 12 percent increase in quarterly consolidated net profit on Monday, boosted by higher cement sales volume.

Consolidated net profit rose to 7.18 billion rupees ($111.59 million) in the quarter ended June 30 from 6.42 billion rupees a year earlier, the cement maker said in a statement.

Bharti Infratel first-quarter consolidated profit falls about 12 percent, misses estimates

Telecom tower infrastructure provider Bharti Infratel Ltd on Monday said its consolidated profit fell about 12 percent in the first quarter, hurt by higher tax expenses.

Consolidated profit after tax for the three months ended June 30 came in at 6.64 billion rupees ($103.20 million), while total income grew about 9 percent to 16.07 billion rupees. (http://bit.ly/2tTdu3E)

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Mahindra and Mahindra Finnance Services standalone Quarterly Result net down 45.52%

Net sales of the company rose moderately by 16.54 per cent at Rs 1,592.37 crore for the quarter ended June 30, 2017 as against Rs 1,366.43 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 47.38 per cent to Rs 795.74 crore from Rs 539.92 in year ago period. Other Income grew by 15.78 per cent at Rs 10.71 crore versus (Jun'16 Rs 9.25 crore).

Wendt India standalone Quarterly Result net down 55.87%

Net sales of the company declined by 0.46 per cent at Rs 30.07 crore for the quarter ended June 30, 2017 as against Rs 30.21 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 5.92 per cent to Rs 27.02 crore from Rs 25.51 in year ago period. Other Income grew by 27.03 per cent at Rs 0.47 crore versus (Jun'16 Rs 0.37 crore). Operating Profit

India sets up panel to revive loss-making steelmaker SAIL: minister

NEW DELHI- India has set up a panel to turn around loss-making Steel Authority of India Ltd (SAIL) and help the state-owned company increase production, Minister of State for Steel Vishnu Deo Sai said in the lower house of Parliament on Monday.

Reuters reported in March that an expert panel was set up to revive SAIL after a government review found the company to be fa

KKR to buy WebMD in $2.8 bln deal

Online health publisher WebMD Health Corp said on Monday it agreed to be bought by private equity firm KKR & Co in a deal valued at about $2.8 billion.

The deal brings together WebMD's websites, such as WebMD.com, Medscape.com and MedicineNet.com, and those owned by KKR unit Internet Brands Inc, including DentalPlans.com and AllAboutCounseling.com.

KKR will pay $66.5

Reliance Nippon Life Asset Management Quarterly Result profit up 27%

Reliance Nippon Life Asset Management on Monday said its profit after tax increased by 27 per cent to Rs 103 crore for the first quarter ended June 30, 2017.

According to Reliance Nippon Life Asset Management, its revenues for Q1 FY18 stood at Rs 378 crore -- up 23 per cent.

"The company continues to strengthen its position by reaching out to the masses and by

Shares end at record close, Nifty nears 10,000

The NSE Nifty ended at a record closing high on Monday, coming within striking distance of breaching the 10,000 mark for the first time ever, as Reliance Industries Ltd and HDFC Bank gained after their recent earnings.

The broader index ended up 0.52 percent at 9,966.40, its highest close ever, while the benchmark BSE Sensex ended 0.68 percent up at an all-time closing high of 32,245.

United Spirits Quarterly Result net jumps 43.61% at Rs 62.90 cr

United Spirits Ltd (USL) said that it has reported 43.61 per cent jump in its standalone net profit at Rs 62.90 crore for the quarter ended June 30, 2017, helped by an interest cost saving of Rs 70 crore despite witnessing drop in sales. The company had posted a net profit of Rs 43.80 crore in the previous year quarter, it said in a filing to the Bombay Stock Exchange. During the quarter under

JioPhone will force incumbents to protect subscribers: Jefferies

Reliance Jio's newly launched JioPhone aimed at over 50 crore feature phone users will pose a stiff challenge to incumbents to protect their subscriber market share, investment banking firm Jefferies has said.

"The monthly plan compares favorably against the blended ARPU (average revenue per unit) of top three incumbents, but it does provide a cap. Even though the pricin

Vijaya Bank Quarterly Result net jumps 57.55% at Rs 254.69 cr

Private sector lender Vijaya Bank on Saturday reported a 57.55 per cent year-on-year growth in its standalone net profit at Rs 254.69 crore for the quarter ended on June 30, 2017. “The standalone net profit of the bank stood at Rs 161.66 crore in the same quarter last year,” said Vijaya Bank in a filing to the Bombay Stock Exchange. Interest income of the bank declined by 1.78 per c

SREI Infrastructure standalone Quarterly Result net up 9.5% at Rs 28.5 cr

Net sales of the company declined substantially by 30.70 per cent at Rs 428.93 crore for the quarter ended June 30, 2017 as against Rs 618.92 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses dropped by 88.68 per cent to Rs 41.14 crore from Rs 363.45 in year ago period.

Operating Profit slipped by 1.34 per cent to Rs 388.96 crore as against Rs 394

NSE asks trading members to upload GSTIN by July 25

Top stock exchange NSE has asked trading members to submit their goods and services taxpayer identification number (GSTIN) in electronic format by July 25, reported PTI. In case of the failure to upload the GSTIN within prescribed timeline, the exchange would issue invoice for taxable services without the requisite registration number, which could consequently result in "loss of input tax

Thirumalai Chemicals standalone Quarterly Result net jumps 92% at Rs 30 cr

Net sales of the company rose substantially by 70.70 per cent at Rs 284.49 crore for the quarter ended June 30, 2017 as against Rs 166.66 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 65.96 per cent to Rs 233.24 crore from Rs 140.54 in year ago period.

Other Income grew by 2.97 per cent at Rs 2.43 crore versus (Jun'16 Rs 2.36

IIFL Holdings standalone Quarterly Result net zooms to Rs 19.63 cr

Net sales of the company rose three fold by 671.52 per cent at Rs 34.41 crore for the quarter ended June 30, 2017 as against Rs 4.46 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 12.07 per cent to Rs 1.95 crore from Rs 1.74 in year ago period. Operating Profit surged by 1031.01 per cent to Rs 32.46 crore as against Rs 2.87 crore in the year

Divis Lab standalone Quarterly Result net down 41.5% at Rs 176 cr

Net sales of the company declined moderately by 18.37 per cent at Rs 821.20 crore for the quarter ended June 30, 2017 as against Rs 1,005.97 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses dropped by 4.62 per cent to Rs 576.38 crore from Rs 604.33 in year ago period. Other Income grew by 81.97 per cent at Rs 29.68 crore versus (Jun'16 Rs 16.31 crore).

Coal India invites power producers for linkage auction

State-run Coal India Ltd (CIL) has invited applications from independent power producers to take part in the auction of coal linkages under the Scheme for Harnessing and Allocating Koyala Transparently in India (Shakti), a notice said on Monday.

The miner asked "interested entities" to register on the website of auction firm MSTC Ltd "on or before August 7, 2017&qu

Karnataka Bank aims to achieve export credit of Rs 2500 cr

Karnataka Bank Ltd has said that it is aiming to achieve an export credit target of Rs 2,500 crore during the current financial year. Commenting on the issue at the forex business conference of the bank in Mangaluru on Friday, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said that exports from India have been exhibiting a positive growth in the last few months.<

NIIT conducts seminar for engineering aspirants in Odisha

NIIT Limited, a global leader in skills and talent development has said that it has conducted a seminar on ‘Digital Transformation: Impact, Challenges & opportunities’ for engineering aspirants in the city. “Prof (Dr.) P.P Mathur, Vice-Chancellor, KIIT University; Dr. Saranjit Singh, Director IEC, KIIT University and Dr. Prachet Bhuyan, Associate Dean T&P, KIIT Univers

Strides Shasun gets USFDA nod to launch allergy drug in US

Drug maker Strides Shasun on Monday said that it has received approval from the United States Food & Drug Administration (USFDA) for allergy drug Cetirizine Hydrochloride capsules, 10 mg. ‘This is the first approval for a Softgel product after the recent US FDA inspection at the Company’s Bangalore facility,” said Strides Shasun in a filing to the Bombay Stock Exchange.

India sets up panel to quicken government`s stake sale in HPCL to ONGC

NEW DELHI  - India has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp  to explorer Oil and Natural Gas Corp , Oil Minister Dharmendra Pradhan said.

The Indian cabinet last week decided to sell the government's 51.1 percent stake in refiner and fuel retai

HDFC Bank awaits farm loan waiver details after higher first-quarter provisions

HDFC Bank Ltd said it was waiting for details on farm loan waiver plans announced by several states, after recording higher provisions driven by delinquencies in its agriculture loan book over the first quarter.

Four key states including Uttar Pradesh, which has a population around the same size as Brazil's, have recently said they would waive off billions of dollars in farm loans

Nifty hits record high, moves closer to 10,000 mark

The NSE Nifty rose to a record high on Monday, inching closer to the 10,000 mark, as market heavyweight Reliance Industries Ltd  continued to surge on optimism about its outlook for the core business and telecom venture.

The broader Nifty rose as much as 0.54 percent to 9,968.95, surpassing the previous record set a week earlier, while the benchmark BSE Sensex climbed 0.67 percen

Q1, derivatives expiry to guide equity markets

Ongoing quarterly results, along with derivatives expiry and global cues will guide the key equity markets during the upcoming week, market observers said.

Analysts pointed out that the Parliament's monsoon session, as well as the direction of foreign funds' flow will be the other major themes for the upcoming week.

"Markets will continue to be influenced by sto