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Government to sell 5% stake in NTPC

Government to sell 5% stake in NTPC

Feb. 23 | New Delhi: PTI reported that, Government is set to sell 41.22 crore shares or 5% (Rs. 5,030 core) stake in NTPC Ltd via offer-for-sale (OFS) on Tuesday. India’s largest power producer NTPC is the first company to hit the markets under the revised...

Axis Bank Q1 Net up 18.7% at Rs. 1,978 cr as Bad Loans Rose

Axis Bank Q1 Net up 18.7% at Rs. 1,978 cr as Bad Loans Rose

Jul. 25 | India’s third-largest private bank by assets, Axis Bank Ltd, on Friday reported that net profit in the three months ended 30 June rose 18.7% to Rs.1,978.44 crore from Rs.1,666.76 crore despite steep rise in provisions. Net interest income (the difference...

Lupin to acquire Gavis for $880 mn

Lupin to acquire Gavis for $880 mn

Jul. 23 | Lupin Ltd, India’s fourth-largest drug-maker by sales, on Thursday said it is acquiring US generics company Gavis for $880 million (over Rs 5,610 crore) to strengthen its presence in its largest market, the US. Lupin Ltd Chief Executive Officer Vinita...

Air India to get sovereign guarantee for $300 mn through ECB

Air India to get sovereign guarantee for $300 mn through ECB

Jul. 22 | National carrier Air India might soon get the USD 300 million (over Rs 1,900 crore @ Rs 64 to a dollar) loan through external commercial borrowing (overseas loans), the government will provide guarantee for the loan, a senior Civil Aviation Ministry official...

Cong Leader wanted Passport for Coal Scam Accused: Sushma Swaraj

Cong Leader wanted Passport for Coal Scam Accused: Sushma Swaraj

Jul. 22 | New Delhi: External Affairs Minister Sushma Swaraj, Wednesday, took on the Congress camp with a sensational counter-attack, said she will disclose the name of a senior Congress leader who allegedly pressured her to give a diplomatic passport to Santosh...

World Bank Cuts Global Growth forecast for 2015

World Bank Cuts Global Growth forecast for 2015

Jan. 14 | The World Bank has cut its forecast for global growth in 2015 and low oil prices through 2016 due to disappointing economic prospects in the euro zone, Japan, Russia and some major emerging economies that offset the benefit of lower oil prices. The World...

SBI Net Profit Declines by 13.6% in Q1

SBI Net Profit Declines by 13.6% in Q1

Aug. 12 | The country’s largest lender State Bank of India (SBI) on Monday reported 13.6% decline in standalone net profit to Rs. 3,241.08 crore for the quarter ended June 30, 2013, due to higher operating expenses and sluggish growth in interest income. The...

RBI To impose Rs 5.63 Lakh Fine On SBI For Violation

RBI To impose Rs 5.63 Lakh Fine On SBI For Violation

Aug. 7 | The Reserve Bank of India (RBI) on Wednesday said it imposed a fine of about Rs. 5,62,555 on State Bank of India (SBI) for violation of currency chest norms. “The above penalty has been levied in connection with the deficiencies/lapses observed...

Crompton Greaves Q1 net drops 30%

Crompton Greaves Q1 net drops 30%

Aug. 6 | Mumbai – Mumbai-based transformer and switchgear products manufacturer Crompton Greaves Ltd. reported a higher stand-alone net profit for the first-quarter on increased income. The company’s first-quarter consolidated profit fell 30.06% from...

Apple’s Q3 Results Beat As iPhone Sales Surge

Apple’s Q3 Results Beat As iPhone Sales Surge

Jul. 24 | The world’s largest technology company, Apple Inc’s, said on Tuesday that profit fell 22% as gross margins slid below 37% from more than 42% in the year-ago quarter. Apple said it sold 31.2 million iPhones, a record for the June quarter,...