Sensex, Nifty hit record; rupee at 20-month high

MUMBAI  - The Sensex and Nifty rose to record highs on Wednesday, buoyed by solid company earnings reports and global market gains, while the rupee hit a 20-month high against the dollar.

The benchmark Sensex rose 0.6 percent to a high of 30,134.69 points, surpassing its last record in March 2015, while the broader Nifty saw similar gains, hitting an all-time hig

IDFC Bank's Q4 net profit up 7%

IDFC Bank on Tuesday reported a rise of seven per cent in its net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 176 crore from Rs 165.1 crore reported in the fourth quarter of 2015-16.

The operating income of the bank rose by just one per cent to Rs 558.4 crore during the January-March quarter of 2016-17 from Rs 554.5 earned

LIC Housing Finance's Q4 net profit up 18%

LIC Housing Finance on Tuesday reported a rise of 18 per cent in its stand-alone net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 529.19 crore from Rs 448.02 crore reported for the corresponding quarter of 2015-16.

According to the company, its net interest income for the quarter under review increased by 27 per cent to Rs

Shapoor Mistry resigns from Indian Hotels board

NEW DELHI  - Shapoor Mistry, the elder brother of former Tata Sons Chairman Cyrus Mistry, has resigned as a director of the board of Indian Hotels Co, the company said on Tuesday.

Indian Hotels runs the Tata group's luxury hotels and resorts business.

The Shapoorji Pallonji family own a roughly 18 percent stake in Tata Sons, with Tata Trusts - a gro

Coca-Cola to cut 1,200 jobs, boosts savings target

Coca-Cola Co said on Tuesday it would cut about 1,200 jobs as the beverage maker expands its savings target amid falling demand for fizzy drinks globally.

Shares of the Dow component were up marginally at $43.39.

Coca-Cola and rival PepsiCo Inc's soda sales have taken a hit as consumers in North America and Europe increasingly shun sugary drinks.

Global soda sa

Wipro growth forecast hit by healthcare, weak retail

MUMBAI/BENGALURU - Wipro Ltd, India's third-biggest software services exporter, said cancellations of healthcare projects and weak retail spending in its key U.S. market would hit revenue growth.

Headquartered in the technology hub of Bengaluru, Wipro said on Tuesday that its consolidated net profit grew 0.4 percent to 22.67 billion rupees ($353 million) in its fi

Indian farmers should pay tax, adviser says, challenging government

NEW DELHI - A senior adviser to the Indian government proposed on Tuesday that farmers pay tax, in remarks that challenged government policy in a country of 1.3 billion people where there are only 37 million income tax payers.

Economist Bibek Debroy, a member of the Policy Commission that serves as the government's own think-tank, told a news conference that farme

Welspun India Q4 cons PAT dips 21.5% at Rs 153.80 cr

Textile firm Welspun India on Tuesday reported a 21.5 per cent decline in its consolidated net profit after taxes (PAT) at Rs 153.80 crore during the three months ended March 31, 2017. “The Mumbai-based company had posted consolidated PAT of Rs 195.90 crore in the corresponding period of previous fiscal, said Welspun India in a filing to Bombay Stock Exchange. The consolidated total reven

Zydus gets USFDA final nod for anti-hypertensive tablets

Pharma major Cadila Healthcare Ltd on Tuesday said it has received final approval from the US health regulator to market anti-hypertensive drug - Olmesartan Medoxomil tablets. “The company has received final approval from the USFDA to market Olmesartan Medoxomil tablets, in strengths of 5 mg, 20 mg and 40 mg,” Cadila Healthcare Ltd said in a filing to the Bombay Stock Exchange on Ap

Can Fin Homes Q4 net jumps 49% at Rs 70.87 cr

Can Fin Homes, engaged in the business of housing finance, on Tuesday reported a 49.35 per cent growth in its standalone net profit at Rs 70.87 crore during the three months ended March 31, 2017. “The Canara Bank promoted company had posted standalone net profit of Rs 47.45 crore in the corresponding period of previous fiscal, said Can Fin Homes in a filing to Bombay Stock Exchange. The t

Reliance Home Finance profit zooms 3-fold to Rs 130.74 cr during H2 FY’17

Reliance Home Finance, a part of Reliance Capital, on Tuesday reported an over threefold jump in its net profit at Rs 130.74 crore during the six months ended March 31, 2017.

“The Anil Ambani-led company had posted net profit of Rs 41.84 crore in the corresponding period of previous fiscal, said  Reliance Home Finance in a filing to Bombay Stock Exchange. During H2 FY17, th

Nifty ends above 9,300 for first time

The NSE Nifty ended above the 9,300 level for the first time on Tuesday, helped by a string of strong quarterly results including from Reliance Industries Ltd and positive global cues.

The broader Nifty closed up 0.96 percent at 9,306.60. The index earlier hit a record high of 9,309.20, surpassing its previous milestone set on April 5.

The benchmark BSE Sensex ended 0.97 per

Coca-Cola`s profit plunges 20 pct on bottling refranchising costs

Coca-Cola Co reported a 20 percent drop in quarterly profit, largely weighed down by higher costs related to refranchising its North America bottling operations.

Net income attributable to the company's shareholders fell to $1.18 billion, or 27 cents per share, in the first quarter ended March 31, from $1.48 billion, or 34 cents per share, a year earlier.

Revenue fell 11

Wipro posts small rise in quarterly profit; outlook muted

MUMBAI - India's No.3 software services firm Wipro Ltd reported a small rise in quarterly profit on Tuesday, driven by revenue growth from financial solutions and healthcare customers.

The company however, said it expects quarterly revenue, on a sequential basis, to fall or stay flat in the ongoing quarter.

The muted growth outlook comes as Indian softwa

Indian Bank Q4 net profit jumps over three-fold to Rs 319.70 cr

Public sector lender Indian Bank on Tuesday reported an over threefold jump in its standalone net profit at Rs 319.70 crore during the January-March quarter of 2017-18, helped by strong growth in net interest income, operating profit and tax credit.

“The lender had posted standalone net profit of Rs 93.62 crore in the corresponding quarter of previous fiscal, said Indian Bank in

Indiabulls Housing Finance Q4 cons net jumps 24.4% at Rs 840.5 cr

Indiabulls Housing Finance Ltd. (IBHFL), a private housing finance company, on Monday reported a 24.42 per cent growth in its consolidated net profit at Rs 840.53 crore during the January-March quarter of 2017-18, driven by strong growth in individual home loan.

“The company had posted consolidated net profit of Rs 675.50 crore in the corresponding quarter of previous fiscal, sa

Coal India's sales outlook remains positive despite muted demand

Despite muted demand from consumers, downgrading of mines and challenges from the renewable energy sector, the sales outlook of Coal India, the country's largest miner, for 2017-18 looks positive with an expected growth of around 4-6 per cent, analysts and stakeholders say.

They also hold the miner, now contributing 84 per cent of the country's coal production, is better

Infosys opens delivery centre in Croatia

Infosys Ltd has opened a delivery centre in Croatia to offer research and development (R&D) and engineering services to its global clients in Eastern Europe, said the software major on Tuesday.

"The delivery centre marks our expansion into Eastern Europe's heavy engineering sector, meet near-shoring requirements, support engineering clients worldwide and offer R&

Nifty ends above 9,300 for first time

The NSE Nifty ended above the 9,300 level for the first time on Tuesday, helped by a string of strong quarterly results including from Reliance Industries Ltd and positive global cues.

The broader Nifty closed up 0.96 percent at 9,306.60. The index earlier hit a record high of 9,309.20, surpassing its previous milestone set on April 5.

The benchmark BSE Sensex ended 0.97 per

RIL's Q4 consolidated net up 12.3%, annual profit rises 18.8%

 Industrialist Mukesh Ambani-led Reliance Industries Limited's (RIL) consolidated net profit for the fourth quarter (January-March) of 2016-17 moved up by 12.3 per cent, a company statement said here on Monday.

The company posted net profit of Rs 8,046 crore for the fourth quarter of 2016-17 compared to Rs 7,167 crore clocked during the corresponding period in 2015-16.

Rallis India's consolidated Q4 net profit down 8.8%

Agro-chemicals major Rallis India on Monday reported a decline of 8.82 per cent in its consolidated net profit for the fourth quarter of 2016-17.

The Tata Group company's net profit declined to Rs 3l crore from Rs 34 crore reported for the corresponding quarter of 2015-16.

The company's total comprehensive income dropped by 8.57 per cent to Rs 32 crore from

TCS, Infosys got only 8.8% of H-1B visas, says Nasscom contradicting US official

Indian IT industry's apex body has said that the two top companies -- TCS and Infosys -- got only 8.8 per cent of H-1B visas for placement of workers in the United States.

"Of the six Indian IT companies, software majors TCS (Tata Consultancy Services) and Infosys received 7,504 H-1B visas in FY 2015, which is 8.8 per cent of the total H-1B visas," said the National

RIL overtakes TCS as most valuable company

Industrialist Mukesh Ambani-led Reliance Industries (RIL) on Monday regained its position as the most valued company of the country in terms of market capitalisation (m-cap).

The company's shares on the BSE closed higher by 1.19 per cent or Rs 16.65 to Rs 1,416.40 from its previous close at Rs 1,399.75. This lifted RIL's m-cap to Rs 4,60,518.80 crore.

The c

PNC Infratech completes road project in Rajasthan

Leading infra major, PNC Infratech Limited has said that it has received a letter from National Highways Authority of India regarding the achievement of Financial Closure on April 03, 2017 for the project 'four laning / two laning with paved shoulders from 0.00 km to 83.453 km of Dausa-Lalsot-Kauthun section of NH-11 A (Extension) in the state of Rajasthan under NHDP IV, on Hybrid Annuity M

LIC launches two Aadhaar based policies

Life insurance behemoth LIC has introduced two endowment assurance plans for individuals having Aadhaar card, reported PTI. While the Aadhaar Shila is a plan exclusively designed for women, the other scheme Aadhaar Stambh is meant for men.

Absolute amount assured on death under Aadhaar Stambh is 100 per cent, whereas for Aadhaar Shila it is 110 per cent of basic sum assured. These pla