Infosys completes acquisition of 75% stake in ABN AMRO Bank subsidiary Stater

IT services major Infosys Friday said it has completed the acquisition of 75% shareholding in ABN AMRO Bank’s wholly-owned cNV. In March, the country’s second largest IT services firm had said it will acquire 75 per cent stake in Stater for 127.5 million euros (about ?989 crore). ABN AMRO continues to hold the remaining 25 […]

‘PM Narendra Modi’ hits theatres today

NEW DELHI: A day after the Lok Sabha election results, Prime Minister Narendra Modi’s delayed biopic hits theatres this week. PM Narendra Modi directed by Omung Kumar starring Vivek Oberoi inhabits muddled, post-truth territory as a biopic, says The Indian Express. As a hagiography though, genuflecting at the altar of the man, it’s perfect. It’s […]

Oil set for biggest weekly drop of the year as US, China trade war bites

Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess the outlook for global growth, drowning out concern over multiple supply risks. Futures in New York rose as much as 0.9% Friday after plunging 5.7% the day before. Crude is being caught up in a stampede […]

Equity market gets a reality check as election season ends

Mumbai: The first reaction of investors to Indian Prime Minister Narendra Modi’s landslide election win was to bid up local assets. The euphoria didn’t last long. Stocks fell after rallying to records and the rupee slid as investors refocused on domestic realities, and posted modest gains on Friday. While Modi’s sweeping victory allayed fears of […]

Glenmark Pharma falls 1% after USFDA issues VAI status

Glenmark Pharma shares fell over a percent intraday on May 24 after a media report indicated company’s Goa facility received Voluntary Action Indicated (VAI) status. The stock was quoting at Rs 559.25, down Rs 3.45, or 0.61 percent on the BSE, at 10:44 hours IST. It fell 11 percent in last one month. Sources told […]

Cipla Q4 consolidated net profit more than doubles to ?367 crore; board okays plan to raise ?6,000 crore

IndusInd Bank Q4 profit falls to ?360 crore, asset quality deteriorates

Private sector lender IndusInd Bank today reported a fall in net profit in the fourth quarter, hurt by higher provisions for bad loans. Net profit fell to ?360 crore for the quarter ended March 31, 2019, as compared to ?953 crore in the year earlier period. Provisions for bad loans increased to ?1,560 crore in […]

Reliance topples IOC to become the biggest Indian company

New Delhi: Richest Indian Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries has toppled state-owned Indian Oil Corp (IOC) to become the country’s biggest company by revenue. Reliance in the 2018-19 fiscal year that ended 31 March, reported a turnover of ?6.23 lakh crore. In comparison, IOC posted a turnover of ?6.17 lakh crore for the fiscal, […]

United Breweries Q4 net profit falls 25.26% to Rs 67.92 crore

United Breweries Ltd (UBL) on Tuesday reported 25.26 per cent fall in its standalone net profit of Rs 67.92 crore for the fourth quarter ended March 2019. The company had posted a net profit of Rs 90.88 crore in the January-March period a year-ago. Its total income during the quarter under review was up 5.84 […]

Tata Motors slips 3% on dismal Q4 numbers; CLSA maintains sell

Shares of Tata Motors declined 3.6 percent in the early trade on May 21 after company reported weak set of numbers for the quarter ended March 2019. The company has reported a 49 percent fall in its consolidated net profit at Rs 1,108 crore. The company had reported a profit of Rs 2,175 crore in […]