Non-banking lender Indiabulls Financial Services said net profit for fiscal 2011 more than doubled to Rs743 crore, helped by growth in long-term, low-risk mortgage loans and falling delinquency levels. Diversified and long-duration liabilities and decreasing cost income ratio have also contributed to the growth in profit and revenue for the financial year ended 31 March, [...]
Indian equity benchmarks closed the session on a positive note though indices washed out half of their gains in the last one hour of trade due to TCS, BHEL and Bharti. Oil & gas, financial, metal, realty, power and select auto companies’ shares held the markets in green. The 50-share NSE Nifty touched the 5900 [...]
The key benchmark indices skidded in early trade soon as IT bellwether Infosys reported lower-than-expected Q4 numbers. The BSE 30-share Sensex was down 86.31 points or 0.44%. IT bellwether Infosys Technologies’ slumped 5.76% after the company reported a lower-than-expected 2.13% growth in consolidated net profit as per International Financial Reporting Standards at Rs. 1818 crore [...]
After retailing the Tata Nano in its Big Bazaar stores, Kishore Biyani’s Future Group is in talks with other car and two-wheeler manufacturers to sell their vehicles. “Nano was a successful experiment for us. We can also launch other cars in our stores. We are in talks with some of the companies,” said Biyani. Big [...]
Maruti Suzuki India shares slid 1.5% to Rs 1,278.65 on National Stock Exchange Thursday on company’s announcement that it will recall 13,157 diesel cars to inspect a faulty engine component. However, analysts say this incident will have limited negative impact on the company’s shares. The company, which is India’s top passenger car maker, had Wednesday [...]
The country’s largest power producer NTPC today reported flat growth in net profit to Rs 8,886 crore for the year ended March, 2011, on the back of state electricity boards buying less power from the grid. "We made the power plants available, but the state electricity boards did not draw power from those projects. This [...]
The key Indian stock indices remained in a consolidation mode for the second day in a row on Wednesday amid concerns over rising crude oil prices which in turn fueled worries over further hike in interest rates in the near term.Investors used the opportunity to book some profit following the recent rally. Realty stocks were [...]
Shares of Mahindra Satyam rose more than 9 percent on Wednesday, a day after the technology firm agreed to pay $10 million to settle U.S. probes into an accounting fraud that in 2009 became India’s biggest corporate scandal. "Looking at the amount they have had to pay compared to the severity of the violation, they [...]
Benchmarks ended in the positive territory, on the settlement day of March series F&O expiry, extending winning streak for eighth straight session. The rally in frontline stocks has been fuelled by the return of foreign institutional investors pumping dollars in the Indian market. The indices opened on a positive note in line with peers and [...]
Vodafone Group Plc (VOD) will buy an additional 33 percent stake in its Indian joint venture for $5 billion after partner Essar Group exercised an option to sell the holding in India’s third-largest mobile-phone operator. Essar exercised its put option over 22 percent of the venture, Vodafone said in an e-mailed statement today. Vodafone exercised [...]
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