HindustanTimes Thu,23 Oct 2014


HDFC profit rises 7% to Rs. 1,358 cr; revenue up 12%

India’s largest private sector mortgage lender, Housing Development Finance Corp, on Wednesday posted a 7% year-on-year rise in standalone net profit to Rs. 1,358 crore during the second quarter against Rs. 1,266 crore in the year-ago period.

Asian Paints net at Rs. 347 crore

kid's play area
Asian Paints Ltd on Wednesday reported a consolidated net profit of Rs. 347.30 crore on the back of net sales of Rs. 3,586.75 crore for the second quarter ended September.

Biocon net flat at Rs. 102 cr; revenue up 3%

Biotechnology firm Biocon on Wednesday reported a flat growth in its consolidated net profit to Rs. 102.05 crore for the second quarter ended September against Rs. 102.15 crore last year.

Ex-Infy CFO Pai to invest in more ventures

Former Infosys CFO and board member Mohandas Pai, along with Manipal Group MD Ranjan Pai, will invest in three more venture funds, taking their investments in private equity ventures to $100 million in 10 funds that finance over two dozen early-stage companies.

Digging deep: Foreign firms may get to mine coal in India

Coal mines

Foreign companies with units or joint ventures in India may eventually be allowed commercial coal mining in India and dig deep into the mines that that are estimated to contain the world’s fifth largest coal reserves.

DLF seeks interim relief from capital market ban

Hit hard by a Sebi order barring it from capital markets, realty giant DLF on Wednesday appealed for an interim relief from the Securities Appellate Tribunal to allow it to redeem thousands of crores worth funds locked in mutual funds and other securities.

Rupee ends flat, outlook positive


Wednesday's closing for rupee is the strongest level since 61.1 against US dollar on October 13, 2014. In the forwards market, premium recovered on fresh payments by banks and corporates.

Tribunal to hear DLF's plea against Sebi order


The Securities Appellate Tribunal will hear on Wednesday realty giant DLF's appeal against the Sebi order that barred the company and six top executives from accessing capital market for three years.

Govt sets deadline of six months for rolling out Direct Tax Code and GST

Narendra Modi

The government has set itself a deadline of six months to implement Direct Tax Code (DTC) and Goods and Services Tax (GST) as part of its action plan to ease the doing business in India.

Global firms may get to mine coal commercially

Foreign companies with units or joint ventures in India may eventually be allowed commercial coal mining in the country that is estimated to contain the world’s fifth-largest coal reserves.

Wipro Q2 net up 8%, misses forecasts

Facing headwinds in business from its top clients, India’s third-largest IT services company, Wipro, narrowly missed market expectations with a 7.9% year-on-year rise in consolidated net profit to Rs. 2,080 crore during the July-September quarter.

Maruti to launch automatic Alto K10 next month

India’s largest car maker, Maruti Suzuki, is set to roll out an automatic version of its bestselling small car, Alto K10, next month at under Rs. 4 lakh, making it one of the cheapest automatic cars in the world.

Sensex up 212 points at 1-month high as Samvat 2070 draws to a close

Bombay Stock Exchange
Samvat year 2070 ended with a bang as Sensex on Wednesday soared 212 points to finish at one-month high and Nifty jumped 68 points to close just shy of 8,000 mark on optimism festive sales will boost earnings.

AI Dreamliner loses ground contact, Italy scrambles jets

A security personnel

The Italian Air Force had to scramble fighter jets to escort an Air India Boeing 787 Dreamliner flight from Delhi to Rome last week after the plane lost radio contact with Air Traffic Control following a failure of its communication system, HT has learnt.

Gold is glittering this Dhanteras

Delicate design
Gold is glittering this Dhanteras as jewellers are experiencing good sales driven by better prices compared to last year. Last year, there was a supply crunch of gold in the market after the government hiked its import duty to 15% to curb higher import as that was causing imbalance in the current account deficit in the country.

HDFC Bank net up 20% to Rs. 2,382 cr

India’s second largest private sector lender HDFC Bank on Tuesday reported a 20% year-on-year rise in net profit to `2,382 crore during the July-September quarter, helped by higher interest earned from loans.

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