Negative global cues subdue equity markets

 Negative global cues along with profit booking dragged the Indian equity markets lower during the early morning trade session on Tuesday.

According to market analysts, both the key indices BSE Sensex and NSE Nifty opened on a negative note as stocks of bluechip firm ITC fell by around 13 per cent.

However, losses were contained due to positive quarterly resul

Tata Motors to launch SUV Nexon during festive season

 Automobile major Tata Motors on Monday said that it will launch SUV Nexon during the upcoming festive season with two new engine options.

According to the company, it has added two new engines - the 1.2L turbocharged petrol and the 1.5L diesel -- to its powertrain portfolio. These engines will debut in the new SUV.

"Both these engines have been designed

India`s HDFC Life revives IPO plan as Max Life deal struggles

MUMBAI - India's HDFC Standard Life Insurance Co Ltd said on Monday it had revived a planned initial public offering, as it struggles to get regulatory approval to buy smaller rival Max Life.

Indian mortgage lender Housing Development Finance Corp Ltd and its joint venture partner Britain's Standard Life Plc plan to sale a combined maximum of 20 percent i

Investments in India will continue to grow: Limaye to NSE employees

The National Stock Exchange of India's (NSE) new Managing Director and Chief Executive Officer Vikram Limaye who took charge on Monday told the company's employees that investments in India will continue to grow and have a positive effect on the Indian markets.

"The economy is on a growth path and given political and macro-economic stability, investments in India wil

India raises tax on cigarettes

NEW DELHI - India has raised the total tax on cigarettes resulting in an increase of as much as 792 rupees ($12.31) for every 1,000 cigarettes, adding about 50 billion rupees ($777 million) in revenues for the government, finance minister Arun Jaitley said.

The higher rate will be effective from July 18, Jaitley told reporters in New Delhi on Monday.

The new

Resolving regulatory probe of NSE is top priority: CEO

By Abhirup Roy

MUMBAI - The new chief executive of India's embattled National Stock Exchange (NSE) said on Monday his immediate priority was to resolve a regulatory investigation facing the country's largest bourse and improve relations with stakeholders.

Vikram Limaye took over the NSE on Monday, with the exchange facing a probe from market regulato

Gruh Finance Q1 net jumps 20% at Rs 72.24 cr

Gruh Finance said that it has reported 20 per cent growth in its standalone net profit at Rs 72.24 crore for the first quarter ended June 30, 2017 (Q1FY18). The company had posted net profit of Rs Rs 60.18 crore in the similar period of the previous year, it said in a filing to the Bombay Stock Exchange. Total income from operations stood at Rs 398.12 crore, which was up by 14.95 per cent year-

Shriram Transport raises Rs 300 cr via NCDs

Shriram Transport Finance on Monday said that the company has raised Rs 300 crore through allotted of Secured Redeemable Rated Listed Non-Convertible Debenture on private placement basis.

“The Allotment Committee - NCDs of the company in its meeting held today, approved and allotted 3000 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs 10 lakh each,

Gulshan Homz to invest Rs 400 cr on two projects in Delhi-NCR

Gulshan Homz said it will invest Rs 400 crore over next three years to develop two housing projects in Noida and Greater Noida, reported PTI. The company will build nearly 1,900 housing units in the two projects. Noida-based Gulshan Homz has launched 768 units in a 5.3 acre housing project 'Gulshan Botnia' on Noida Expressway for about Rs 48 lakh per unit.

In another project n

Jubilant Food Works Q1 net jumps 26% at Rs 23.84 cr

Jubilant FoodWorks, which holds the master franchise for Domino's Pizza and Dunkin' Donuts in India, on Monday reported a 26 per cent year-on-year growth in its standalone net profit after tax (PAT) at Rs 23.84 crore for the first quarter ended June 30, 2017, driven by robust Same Store Sales growth. PAT also reflects the adverse impact of Rs 9 crore on account of restaurants closure.

Reliance Industrie Ltd. crosses Rs 5 lakh crore m-cap mark for first time

The market capitalisation (m-cap) of industrialist Mukesh Ambani-led Reliance Industries (RIL) crossed the Rs 500,000 crore-mark for the first time on Monday.

According to market observers, RIL became only the second company after Tata Group's multinational IT firm Tata Consultancy Services (TCS) to cross the Rs 5 lakh crore mark in terms of m-cap.

On Monday, RIL's m

Religare Securities says suffers cyber attack

MUMBAI - Religare Securities has suffered a "virus attack of medium severity" but its systems, operations and sensitive client information "remain secure and unaffected", it said in a statement on Monday.

Religare added the attack had been "proactively handled" and noted "necessary damage control steps" had been initiated.

(Reporting b

ACC`s April-June quarter consolidated net profit up 33%

Cement and ready mixed concrete producer ACC on Monday reported an increase of 32.6 per cent in its consolidated net profit for the second quarter (Q2) of 2017.

The net profit rose to Rs 326 crore from Rs 246 crore reported for the second quarter of last year.

Besides, the company's consolidated sales turnover (net of excise duty) rose 17.8 per cent to Rs 3,329

Court dismisses Essar Steel appeal against bankruptcy proceedings

MUMBAI - The Gujarat High Court on Monday dismissed Essar Steel India Ltd's appeal against a central bank order that asked creditor banks to start insolvency proceedings against the steelmaker, lawyers on the case said.

The ruling is a boost to the government, which in May tweaked Indian banking laws to empower the Reserve Bank of India (RBI) to tackle the country

GST Council may go for more rate revisions

The Goods and Services Tax (GST) Council on Monday evening will hold a meeting through video-conferencing to discuss some rate revisions "which need urgent attention".

The meeting, called at a short notice, would be chaired by Finance Minister Arun Jaitley through video-conferencing as state Finance Ministers were not in the national capital.

Jaitley had

Sensex, Nifty post record closing highs; banks advance

Indian shares posted their highest ever closing levels on Monday, tracking gains in global markets, with financial firms such as ICICI Bank Ltd leading the way.

The broader NSE Nifty closed 0.3 percent higher at 9,915.95, while the benchmark BSE Sensex rose 0.17 percent at 32,074.78.

(Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)

Intex launches 'Aqua Selfie' at Rs 6,649

Domestic smartphone maker Intex Technologies on Monday unveiled its camera smartphone 'Aqua Selfie' for selfie lovers at Rs 6,649.

The 4G/VoLTE smartphone, available on offline channels from July 17, comes with a front and back LED flash-powered 5MP front and 8MP rear camera.

"For today's selfie-struck generation, we have brought the 'Aqua Self

Twitter rated best platform for B2B marketing

Twitter has been rated the best platform when it comes to B2B marketing, a new report said on Monday, adding that people prefer Facebook-owned Instagram as their favourite channel for sharing image-based content.

According to the report by digital communications and technology agency Pulp Strategy, Twitter leads the charts when it comes to B2B marketing, garnering 47 per cent mar

Tata Sponge Odisha plant gets nod to raise capacity to 425,000 tonnes

Tata Sponge Iron has received environment clearance to raise the capacity of its Keonjhar facility in Odisha to 425,000 tonnes per annum. "In May 2017, the company has received an approval from the Ministry of Environment, Forest and Climate Change, Government of India, for enhancement of DRI production by 35,000 tonne (i.E. From 3,90,000 TPA to 4,25,000 TPA) in the existing facility locat

Panasonic unveils `P55 Max` with massive 5,000mAh battery

Panasonic India on Monday launched 'P55 Max' smartphone that features a massive 5,000mAh battery and 13MP camera with Quad LED flash for excellent low-light photography for Rs 8,499.

'P55Max' has 5MP front camera and will be available on Flipkart from July 17. 

"The long lasting 5,000mAh battery ensures the seamless functioning without int

MOIL, Steel Ministry ink pact to meet 12.50 LT production target

The country's top manganese ore producer MOIL said it has signed an MoU with the steel ministry to meet production target of 12.50 lakh tonnes and a capex of Rs 205.8 crore in the current fiscal, reported PTI. "The company has recently signed the MoU with the ministry for the FY 2017-18. The said MoU, includes targets for achievement of various performance parameters which inter alia,

BSNL launches Rs 330-cr optical transport network

Union minister Manoj Sinha launched state-run telecom major BSNL's Rs 330-crore 100G Optical Transport Network (NG-OTN, reported PTI. NG OTN is aimed at providing a 99.99 per cent uptime and will be covering 100 cities across the country, an official statement said. Network Operating Centre (NOC) has been made operational at Bengaluru for round the clock support. The project has already cov

Bank of India reports losses, expects to return to black in Quarterly Result

Bank of India (BoI), which had been reporting losses for last two consecutive financial years, expects to return to black in the second quarter of the current financial year. "Our operating profit is very robust and net interest income is strong. But we had been making losses as were making higher provisioning for NPAs. We hope to make net profits in the second quarter of current fiscal&qu

Karnataka Bank Quarterly Result net jumps 10% at Rs 134 cr

Private sector lender, Karnataka Bank has posted a 10.13 per cent rise in net profit at Rs 133.85 crore for the first quarter of the current fiscal. The bank had reported a net profit of Rs 121.54 crore in the April-June quarter of 2016-17, it said in a filing to the Bombay Stock Exchange. During the quarter under review, the total income of the bank increased to Rs 1,547.93 crore as against Rs