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

Tata, L&T among 17 bidders for Mumbai Trans Harbour Link project

 Tata and L&T were among 17 top construction companies which bid for the three packages of the ambitious Rs 18,000 crore Mumbai Trans Harbour Link project, an official said here on Wednesday.

These 17 bids have come from among the 29 contractors who were previously shortlisted for the three packages of the 22-km Mumbai Trans Harbour Link project, work on which is expecte

HDFC Bank expands foreign exchange offering in Kerala

 HDFC Bank Ltd. on Wednesday, announced the expansion of its foreign exchange offering in Kerala by increasing the product range to include 20 currencies.

It now also offers the Haj Umrah ForexPlus card, which is aimed at meeting the requirements of Haj pilgrims, customers, as well as businesses.

Pilgrims can use this card to make all payments during the pilgr

Tata Group considers restructuring tech, infra businesses: Bloomberg

India's salt-to-software Tata Group is considering a plan to streamline its technology and infrastructure businesses, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

The restructuring plan would involve moving several of its technology businesses under Tata Consultancy Services Ltd, the country's top software services exporter, the report said 

Sterlite Tech Quarterly Result net zooms 61% at Rs 60.6 cr

Optical fibre maker Sterlite Technologies today posted about 61 per cent jump in its consolidated net profit at Rs 60.59 crore for the quarter ended June 2017. The company had registered net profit of Rs 37.74 crore in the same period a year ago, the company said in a filing to the Bombay Stock Exchange. "Over 150 countries have announced national and rural broadband plans, with India at t

BSNL offers waiver of landline installation charges

The BSNL on Wednesday said it has decided to waive off installation charges for new landline/wireline broadband/fibre-to-the-home (FTTH) connections in all circles.

The Bharat Sanchar Nigam Limited (BSNL) said it has also launched a scheme offering "ADSL WiFi modem at Rs 1,500 with five-year warranty and 100 per cent cash back" to the broadband customers who subscribe u

Indian banks face $37 billion hit from top 50 stressed assets: CRISIL

MUMBAI - Indian banks may have to write off 60 percent of the value of bad loans from their 50 large stressed asset accounts, or a hit of 2.4 trillion rupees ($37.31 billion), ratings agency CRISIL said on Wednesday.

The 50 stressed companies, which account for 4 trillion rupees in soured loans, are largely from the metals, construction and power industries and account for nearly half

Rising global potash demand puts Indias buyers on the back foot as contract talks start

MUMBAI - Improved global demand for potash, a widely used fertilizer, will likely lead to India signing more costly import contracts in 2017 than last year, even as the country's demand is set to drop after the government reduced farmer's subsidies in April.

Potash contracts signed by India, one of the world's top buyers of the crop nutrient, help set the

India steel ministry says increased Canadian coking coal import likely

NEW DELHI - India plans to increase its import of coking coal from Canada in a bid to diversify its import basket, the steel ministry said in a statement on Wednesday.

India was in talks with Canada's Teck Resources Ltd for long-term purchase agreements after a cyclonic disruption in Australia cut supplies earlier this year, Reuters reported earlier this month.

IndiGo, other major airlines lift ban on TDP MP Diwakar Reddy

Budget passenger carrier IndiGo on Wednesday revoked the ban on flying TDP MP J.C. Diwakar Reddy on its flights after he expressed regret over an incident of unruly behaviour committed last month.

Following IndiGo's decision, all major domestic airlines -- Air India, Jet Airways, IndiGo, SpiceJet and Vistara -- also revoked the ban. 

On its part, IndiGo said: "

Equity markets bounce back, healthcare stocks surg

 A day after suffering their steepest fall of the current fiscal, Indian equity markets recovered and provisionally closed with appreciable gains on Wednesday on the back of positive global cues and healthy buying in healthcare, metal and banking stocks.

At 3.30 p.m., the wider Nifty of the National Stock Exchange (NSE) provisionally closed at 9,901.90 points -- higher by 74

Reliance Home Finance top line grows 58%

Reliance Home Finance Ltd on Wednesday said it closed the first quarter of the current fiscal with a 58 per cent increase in its total income.

In a statement issued here, the company said it closed the first quarter with a total income of Rs 374 crore logging a year-on-year (YoY) growth of 58 per cent.

Reliance Home Finance is a subsidiary of Reliance Capital Ltd.<

NTPC a key enabler of Indias electricity transformation

A recent Morgan Stanley report has downgraded the Indian utilities industry. It highlighted that renewable energy is becoming so cheap that thermal power, mostly coal, is uncompetitive.

This is a highly significant market signal which will likely be accompanied by growth in the already impressive list of high calibre international investors moving into India's renewables sector, i

IIFCL launches new credit rating system for infra projects

India Infrastructure Finance Company Ltd (IIFCL) launched a new credit rating system with in-built credit enhancement structures for infra projects, reported PTI. The new rating system will address the concerns like the expected loss (EL) of a project entity. It will also enable better risk based pricing and long term funding avenues, IIFCL Deputy Managing Director Sanjeev Kaushik said.