Eurofins Scientific to acquire Tata`s Advinus Therapeutics

Tata Industries on Thursday said that laboratory testing major Eurofins Scientific will acquire its preclinical contract research company Advinus Therapeutics.

"Tata Sons, Tata Industries and Rallis India announced today that they, along with individual shareholders of Advinus Therapeutics (Advinus), have signed a definitive agreement with Eurofins Scientific (Eurofins) for Eurof

RIL proposes to buy stake in Balaji Telefilms

Industrialist Mukesh Ambani-led Reliance Industries Ltd (RIL) on Thursday said it plans to acquire 24.92 per cent equity stake in media and entertainment industry firm Balaji Telefilms Limited (BTL) for a consideration of Rs 413.28 crore.

"RIL proposes to acquire 2.52 crore equity shares of BTL, constituting 24.92 per cent of the post-issue paid-up capital of BTL... for cash cons

Jio to raise Rs 20,000 cr through rights issue

Reliance Jio on Thursday announced that it will sell optionally convertible preference shares through rights issue to existing shareholders to raise Rs 20,000 crore.

Jio is a wholly-owned subsidiary of RIL.

In a regulatory filing with both the Bombay Stock Exchange and the National Stock Exchange, Reliance Jio Infocomm Ltd said its board of directors at a meeting on Thursday

HPCL sees more scope for foreign buys after ONGC deal

By Nidhi Verma

NEW DELHI - State refiner Hindustan Petroleum Corp Limited (HPCL) sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp (ONGC), its chairman M. K. Surana said.

The Indian cabinet on Wednesday cleared state-run ONGC to acquire the government's 51.1 percent

Bajaj Auto Q1 consolidated net profit down over 19%

Two- and three-wheeler major Bajaj Auto on Thursday reported a decline of more than 19.52 per cent in its net profit for the first quarter (Q1) of 2017-18.

The automobile major's net profit decreased to Rs 836.74 crore for the quarter ended June 30, 2017, from Rs 1,039.70 crore reported in the corresponding period of 2016-17.

According to the company, its total income fo

RIL Q1 consolidated net up by 28%

Indian oil-to-telecoms conglomerate Reliance Industries Ltd posted a nine percent rise in first-quarter standalone profit on Thursday, helped by higher margins from its core petrochemicals business.

Profit on a standalone basis, which only accounts for the company's refining, petrochemicals and oil and gas exploration businesses, rose to 81.96 billion rupees ($1.27 billion) for th

India urges final solution to WTO food stockpiling issue

Noting how protectionism in some developed nations is impacting the multilateral trading system, India has again urged WTO members to realise a permanent solution to the issue of public stockholding for food security, the Indian Commerce Ministry said on Thursday.

"During her meeting with the Director General WTO, the Commerce and Industry Minister mentioned the kind of outc

Alembic Pharma Quarterly Result net dips 36% at Rs 66 cr

Drug firm Alembic Pharmaceuticals today reported a 35.73 per cent dip in its consolidated net profit to Rs 66.67 crore for the quarter ended June, mainly on account of transitional provision of GST. The company had posted a net profit after tax, share of associates, joint venture and minority interest of Rs 103.74 crore for the same period a year ago, Alembic Pharmaceuticals said in a BSE filin

NIIT Technologies Consolidated Quarterly Result net surges 79.5% at Rs 51.3 cr

NIIT Technologies today posted 79.5 per cent jump in consolidated net profit to Rs 51.3 crore for the first quarter ended June 30, 2017. NIIT's net profit stood at Rs 28.6 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange. The company's revenues increased by 5.7 per cent to Rs 708.9 crore in the said quarter from Rs 670.7 crore in the April-June per

NSE files consent application for resolution of co-location issue

The National Stock Exchange of India (NSE) on Thursday said it has filed an application with stock market regulator Sebi for settlement of its co-location issue under the consent process.

"This application has been filed under the settlement regulations of Sebi. Sebi will review the application and get back to NSE on the future course of action," the stock exchange majo

Wipro announces up to $1.7 billion share buyback as second-quarter forecast disappoints

By Tanvi Mehta and Sankalp Phartiyal

BENGALURU/MUMBAI - Wipro Ltd, India's third-largest software services exporter, announced an up to 110 billion rupee ($1.71 billion) share buyback on Thursday, overshadowing a tepid revenue forecast that fell short of market expectations.

Bengaluru-headquartered Wipro said it expects revenue from its core IT services

Sensex ends lower; Infosys biggest drag

Indian shares fell on Thursday, dragged down by IT stocks such as Infosys Ltd , while investors await quarterly results from Wipro Ltd and Reliance Industries Ltd due later in the day.

The broader NSE Nifty closed 0.27 percent lower at 9,873.30, while the benchmark BSE Sensex fell 0.16 percent to 31,904.40.

Wipro shares closed 0.7 percent lower, while Reliance Industries end

Reliance General Insurance posts Rs 44 cr net profit

 Reliance General Insurance on Thursday said it closed the first quarter with its gross written premium going up by 41 per cent year-on-year and 22 per cent growth in its profit after tax.

The company board also approved listing of the shares in the stock exchanges to unlock value for the shareholders.

In a statement issued here, the company said it has booked

iVOOMi launches Me 4 and Me5 budget smartphones in India

Chinese electronic major iVOOMi on Thursday launched two new affordable smartphones -- 'Me 4' and 'Me 5' -- series in India at Rs 3,499 and Rs 4,499, respectively.

'Me 4' features 4.5-inch display while 'Me 5' has 5-inch HD-IPS display along with 2.5D curve glass. Both run Android 7.0 Nougat.

"We are glad to launch the extension

Jet Airways cutting pilot pay to trim costs, sources say

By Aditi Shah

NEW DELHI - Jet Airways, India's second-largest airline by market share, plans to slash pay of dozens of its junior pilots by as much as 50 percent in a cost-cutting move, according to two sources and letters seen by Reuters.

The airline, in letters sent to pilots earlier this month, has proposed they either take 30-50 percent salary and st

Mahindra Comviva partners Saregama for mobile content

Mobile solutions provider Mahindra Comviva on Thursday announced partnership with entertainment services provider Saregama to expand the digital content offerings to its telecom clients.

Saregama will provide Mahindra Comviva with digital content of over 117,000 musical tracks.

"This partnership will prove to be a big game changer in telecom's transformati

Hindustan Zinc quarterly Result profit rises 81 percent

 Hindustan Zinc Ltd , India's biggest zinc miner, posted an 81 percent jump in quarterly profit on Thursday, boosted by higher income from zinc operations and an increase in the metal prices.

Net Profit rose to 18.76 billion rupees ($291.16 million) in its fiscal first quarter ended June 30 from 10.37 billion rupees a year earlier, the company, which is a unit of Vedanta Ltd

Bajaj Auto first-quarter profit falls about 6 percent

Bajaj Auto Ltd posted a 5.6 percent fall in quarterly profit on Thursday as sales were hit by the changeover to BS-IV compliant vehicles and the transition to the new Goods and Services Tax (GST).

Profit was 9.24 billion rupees ($143.48 million) in the first quarter ended June 30, compared with 9.78 billion rupees a year earlier, the country's fourth largest automaker by market ca

Karnataka Bank eyes agri credit of Rs 6,800 cr in FY`18

Karnataka Bank said it is targetting Rs 6,800 crore agri credit in the current financial year, reported PTI. This constitutes 18.09 per cent of adjusted net bank credit as against the minimum regulatory requirement of 18 per cent, the bank said in a statement.

The private sector lender said it achieved the target of 18 per cent agriculture advance target in the fiscal ended March and

Lakshmi Vilas Bank to raise Rs 1,256 cr via various modes

Lakshmi Vilas Bank plans to raise over Rs 1,250 crore through various instruments, reported PTI. The decision was taken at the bank's annual general meeting held on July 18, 2017, the lender said in its annual report for 2016-17. The bank further said that it will tap both domestic and global markets for the funding. The private sector bank said it will issue 5 crore equity shares, which on

Mastek Quarterly Result cons net jumps over 6-fold at Rs 14.7 cr

Mastek, a global IT technology firm, has reported over six-fold jump in its consolidated net profit at Rs 14.7 crore for the first quarter ended June 30, 2017. “The consolidated net profit of the firm stood at Rs 2.3 crore during the same period a year ago,” said Mastek in a filing to the Bombay Stock Exchange on Wednesday. The consolidated total revenue from operations rose by 41.4

Havells India Quarterly Result net dips 17% at Rs 120.36 cr

Havells India, one of the largest electrical equipment companies, has reported a 16.78 per cent year-on-year decline in its standalone net profit at Rs 120.36 crore for the first quarter ended June 30, 2017. “The standalone net profit of the firm stood at Rs 144.64 crore during the same period a year ago,” said Havells India in a filing to the Bombay Stock Exchange on Wednesday.

Bajaj Finance`s Quarterly Result standalone net profit up 42%

Bajaj Finance on Wednesday reported a surge of 41.98 per cent in its standalone net profit after tax (PAT) to Rs 602 crore for the first quarter (Q1) of the 2017-18.

On a standalone basis, the company's net PAT for Q1 stood at Rs 602 crore as compared to Rs 424 crore reported during the corresponding quarter of last fiscal.

During the quarter under review, the

Q1 FY2018 Results Total Income at Rs. 658.73 Crores EBIDTA expands to Rs. 76.28 Crores PAT at Rs. 23.58 Crores EPS of Rs. 14.39 per share

Mumbai, Maharashtra, July 19, 2017: Sutlej Textiles and Industries Limited (BSE: 532782 / NSE: SUTLEJTEX), a leading manufacturer and exporter of value added dyed yarns (synthetic & cotton mélange) with presence in Home Textiles, today reported its financial results for the quarter ended 30th June 2017.

 

Commenting on the resu

Sensex muted; Kotak Mahindra gains, Mindtree falls

Indian shares were largely flat on Thursday, as investors parsed through earnings, buying into stocks such as Kotak Mahindra Bank Ltd that beat results while hitting those such as Mindtree Ltd <MINT.NS> that missed estimates.

Analysts said quarterly results were likely to remain the main driver of the market in the weeks ahead, at a time when strong gains have raised concerns ab