Idea Cellular partners with Adobe to enhance customer experience

Global software major Adobe and Aditya Birla Group-promoted Idea Cellular announced on Thursday a partnership under which Adobe Experience Cloud will empower the telecom giant to deliver personalised customer experiences to its subscribers.

Announcing the alliance at Symposium 2017 -- conference for customer experience and business transformation -- here, Adobe said the partnership en

Godrej Prop scripts Q4 turnaround; posts Rs 63 cr net profit

Godrej Properties, real estate development arm of the Godrej Group, on Thursday reported consolidated net profit of Rs 63 crore in the fourth quarter ended March 31, 2017, a significant turnaround from net loss of Rs 12 crore in the same period last year. The consolidated total income of company rose by 21 per cent to Rs 475 crore in Q4 FY17 from Rs 392 crore in Q4 FY16.

Adjusted EBIT

Banking rules revamp to make bad loan resolution more effective - finance secretary

NEW DELHI  - India's revamp of its banking regulations will make the mechanism to deal with bad loans more effective, Finance Secretary Ashok Lavasa said on Thursday, although he declined to share details of the amendments.

Finance Minister Arun Jaitley said late on Wednesday that the federal cabinet had taken some significant decisions related to the banking

India's service sector growth nearly stalls in April, prices rise - PMI

 Growth in India's dominant services industry came close to stalling in April as new orders slowed to a trickle, forcing companies to spend more on aggressive advertising campaigns as they fought for business, a private survey showed on Thursday.

The Nikkei/IHS Markit Services Purchasing Managers' Index slumped to a three-month low of 50.2 in April from March's 51.5,

India's cabinet takes decision on banking sector -Arun Jaitley

NEW DELHI  - India's cabinet has taken significant decisions on the country's banking sector, Finance Minister Arun Jaitley said, declining to give further details, saying it needed a Presidential accord.

"Some significant decision has been taken on the banking sector in the cabinet, but propriety demands that the government should announce this only

Key Indian equity market indices open higher

Cheering the decisions of Cabinet Committee on Economic Affairs, the key Indian equity market indices on Thursday opened higher.

The Sensitive Index (Sensex) of the BSE, which had closed at 29,894.80 points on Wednesday, opened higher at 30,069.72 points. Minutes into trading, it was quoting at 30,041.39 points, up by 146.59 points, or 0.49 per cent.

At the National Stock Ex

Ordinary Indians rush into stocks, spurring a rally as well as risks

By Rafael Nam and Abhirup Roy

MUMBAI  - With red-and-white headphones draped around her neck, 22-year-old Indian IT security consultant Abdhija Sharma looks like she would be more at home discussing the latest music or Bollywood movies than compound returns on equity investments.

But at an office in a Mumbai suburb one recent Saturday, surrounded by ban

ICICI Bank`s stand-alone Q4 net profit up 189%

Private sector lending major ICICI Bank on Wednesday reported an exponential rise of 189 per cent in its stand-alone net profit for the fourth quarter (Q4) of Fiscal 2016-17.

The bank's net profit rose to Rs 2,025 crore from Rs 702 crore reported in the fourth quarter of FY 2015-16.

The net interest income increased by 10 per cent on a year-on-year (YoY) basis to Rs 5,96

Cabinet makes local steel mandatory in govt projects

By Neha Dasgupta

NEW DELHI - India's cabinet on Wednesday approved a proposal to make the use of local steel mandatory for government's infrastructure projects, Finance Minister Arun Jaitley said, aimed at boosting the sales of local companies.

The ministry's flagship National Steel Policy, which seeks to outline a roadmap to increase the country

ICICI Bank sees bad loan additions falling significantly

MUMBAI - India's ICICI Bank Ltd expects additions to its bad loans to be "significantly lower" this financial year, its chief executive said on Wednesday, as the lender reported a smaller than expected rise in quarterly profit.

India's third-biggest lender by assets said its standalone net profit nearly tripled to 20.25 billion rupees ($315.7 million

Alembic Pharma Q4 net up 2.4% at Rs 93.04 cr

Vadodara-based drug maker Alembic Pharmaceuticals Ltd on Wednesday reported a rise of 2.4 per cent in its consolidated net profit after taxes (PAT) at Rs 93.04 crore for the fourth quarter ended March 31, 2017, hurt by higher expenses. “The consolidated net profit of the drug maker stood at Rs 90.83 crore during the same period a year ago,” Alembic Pharmaceuticals Ltd said in a fili

Ajanta Pharma Q4 net up 4.64% at Rs 114 cr

Drug firm Ajanta Pharma today reported a 4.64 per cent rise in its consolidated net profit at Rs 114.02 crore for the fourth quarter ended March 31, mainly on account of robust sales. The company had posted a net profit of Rs 108.96 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to BSE. Its consolidated total income rose to Rs 479.20 crore for the quar

Shanthi Gears Q4 net up 10% at Rs 6.16 cr

Shanthi Gears, a Murugappa Group company, on Wednesday reported a 10 per cent growth in its net profit at Rs 6.16 crore for the fourth quarter ended March 31, 2017. “The company had posted net profit of Rs 5.60 crore during the same quarter last year,” said Shanthi Gears in a filing to Bombay Stock Exchange. The total income from operations rose by 21.03 per cent to Rs 58.15 crore d

DHFL Q4 net zooms nearly 12-fold to Rs 2,218 cr

Dewan Housing Finance Corporation Limited (DHFL), on Wednesday reported nearly 12-fold growth in its standalone net profit at Rs 2,218 crore for the fourth quarter ended March 31, 2017, which includes one-time exceptional gain of Rs 1,969.43 crore on stake sale in its insurance arm DHFL Pramerica Life Insurance to its wholly owned subsidiary DHFL Investments Ltd. “The company had posted s

Marico Q4 net rises 25.5% at Rs 170.91 cr

Packaged consumer goods maker Marico Ltd reported a rise of 25.5 per cent in it’s consolidated net profit after tax at Rs 170.91 crore for the Jan-Mar quarter of FY 17, led by growth in domestic market.

The consolidated net profit of the FMCG firm stood at Rs 136.18 crore during the corresponding quarter of last fiscal, Marico Ltd said in a filing to the Bombay Stock Exchange. I

White House welcomes Infosys move to hire 10,000 Americans

The White House has welcomed the announcement by global software major Infosys to hire 10,000 American workers in the next two years, calling it a "political victory".

"We're glad to see companies like Infosys see opportunity in the American economy again," said Ninio Fetalvo, a White House spokesman, in a statement to the Washington Post.

Infosys on

NSE, BSE gives `No Objection` to listing of Reliance Home Finance

 The country's two bourses National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have given their consent for the independent listing of Reliance Home Finance, Reliance Capital Ltd, part of Anil Ambani-led Reliance Group, said on Wednesday.

In a statement here, Reliance Capital said it has received the requisite "No-Objection" from both National Stock Exchan

Indian equities close flat on negative global cues

Negative global cues and heavy selling pressure in healthcare, oil and gas, and banking stocks led the Indian equity markets to close on flat-to-negative note on Wednesday.

Market observers said investors were cautious ahead of the outcome of the two-day US Federal Open Market Committee (FOMC) meet, due later in the evening.

The wider 51-scrip Nifty of the National Stock Exc

Mahindra pulls the plug on electric car sales in UK

LONDON/NEW DELHI - Mahindra & Mahindra has stopped selling its electric car in the United Kingdom due to meagre sales and is winding up operations there, according to a document seen by Reuters, in a setback for the Indian automaker's global ambitions.

Mahindra's exit from the UK comes less than a year after it launched the e2o car in a market it cons

TVS Motor posts 8.4% growth in April sales

Two and three-wheeler manufacturer TVS Motor has clocked a 8.46 per cent growth in its sales, including exports, in April. The city-based company sold 2,46,310 vehicles during the month as against 2,27,096 units in the year-ago period.

Total two wheeler sales grew by 8.39 per cent to 2,41,007 units last month from Rs 2,22,350 units, it said in a release. Sale of two wheeler in domesti

India may make local steel mandatory in government infrastructure projects - source

NEW DELHI  - The cabinet may clear a proposal on Wednesday to make usage of local steel mandatory for government's infrastructure projects, an official with direct knowledge of the matter said, aimed at boosting sales of local companies and global steel makers' investments.

The ministry's flagship National Steel Policy, which seeks to outline a roadma

0.43% div announced under SBI Savings Fund - Direct Plan

SBI Mutual Fund has announced 0.4334 per cent dividend under dividend payout option of scheme named as “SBI Savings Fund - Direct Plan” on the face value of Rs 10 per unit. The record date for the dividend was April 28.

The investment objective of the open-ended scheme is to provide the investors an opportunity to earn, in accordance with their requirements, through capita

Punjab & Sind Bank raises Rs 1,000 cr from bonds

State-owned Punjab & Sind Bank said that it has raised Rs 1,000 crore through issuing bonds to fund business growth. The fund raised through Basel-III compliant AT-1 Bonds, the bank said in a filing to the Bombay Stock Exchange.

The issue was fully subscribed and bids for Rs 1,000 crore with coupon of 10.90 per cent were accepted, it said. Under the Basel-III norms, AT-1 bonds com

Bajaj Auto April sales nearly flat at 3,29,800 units

Bajaj Auto, an Indian two-wheeler and three-wheeler manufacturing company, on Wednesday reported flat sales at 3,29,800 units in the month of April, 2017. “The company had sold 3,30,109 units in the same month last year,” said Bajaj Auto in a filing to the Bombay Stock Exchange.

Domestic sales during the month dipped by 21 per cent to 1,77,887 units from 2,26,133 units in

Majesco Q4 loss narrows to $0.8 million

Majesco, a core insurance software and consulting services firm, on Wednesday said it has reported a net loss of USD 0.8 million, or USD (0.02) per share for the fourth quarter ended March 31, 2017, compared to net loss of USD 1.5million, or USD (0.04) per share in the year ago period. Revenue for the fourth quarter ended March 31, 2017 decreased to USD 28.2 million as compared to USD 32.3milli