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.
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
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
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
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.
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
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.
The wider 51-scrip NSE Nifty touched the 9,600-mark for the first time in history during the mid-afternoon trade session on Friday.
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SYDNEY - A final investment decision by India's Adani Enterprises to develop its Carmichael coal mine project in Australia could be back on track as early as next week, pending sign-off of a government royalty arrangement.
Queensland state Premier Annastacia Palaszczuk, a proponent of the project, said on Friday that how much Adani will pay in royalties will
Healthy buying in metal and automobile stocks, and a strong rupee took the Indian equity markets to a record high during the mid-afternoon trade session on Friday.
The 30-scrip Sensitive Index (Sensex) of the BSE crossed the 31,000 mark for the first time to touch a new high of 31,034.30 points intra-day.
At 1.45 p.m., the Sensex traded at 31,008.24 points -- up
Shares of Glenmark Pharmaceuticals rose nearly 3 per cent on the Bombay stock Exchange after the drug maker said that it has received final approval from US FDA for its generic version Olmesartan Medoxomil Tablets, used in treatment of high blood pressure.
Following the announcement, shares of the company gained as much as 2.73 per cent to hit intra-day high of Rs 628.70 apiece on the
Shares of Dion Global Solutions rallied over 17 per cent on the Bombay stock Exchange after the financial technology company reported a consolidated net profit after minority interest of Rs 13.30 crore for the fourth quarter ended March 31, 2017, helped by decline in operating expenses.
The consolidated total income of the company rose by 31.86 per cent to Rs 80.04 crore in Q4 FY17 co
Idea Cellular said that with the latest launch of 4G service in Mumbai, it has become pan-India provider of broadband services on mobile phones, reported PTI. "With the launch of 4G LTE services in Mumbai, Idea declares pan-India mobile broadband operations in shortest possible time," Idea said in a statement.
Idea has 4G spectrum in 20 circles except Kolkata and Delhi where
MUMBAI - State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to manage a share sale of up to 150 billion rupees ($2.3 billion), IFR reported on Friday, citing two sources with knowledge of the plan.
A total 17 banks had bid to underwrite the so-called qualified institutional placement, for wh
Automotive components maker Bosch Ltd. on Thursday reported a 10 per cent year-on-year (YoY) decline in net profit to Rs 441 crore for the fourth quarter (Q4) of fiscal 2016-17 from Rs 491 crore in same period year ago.
Sequentially, however, net profit in Q4 zoomed a whopping 102 per cent quarter on quarter (QoQ) from Rs.218 crore in the third quarter (Q3) of FY 2017.
Telecom service providers should not give any discriminatory tariff to the same category of subscribers and all plans should be reported to the regulator within seven days of its launch, the Indian telecom regulator said on Thursday.
The Telecom Regulatory Authority of India (TRAI) directed "to ensure that all the tariffs offered to the consumers shall be in accordance with