The country's largest cigarette maker, ITC Ltd, posted a 19.5% jump in quarterly net profit on Friday, meeting market expectations. ITC said net profit rose to 19.28 billion rupees ($352 million) for the quarter ended March 31.
Shares in JM Financial Ltd rose as much as 10% at the pre-open today after the company said yesterday former Citigroup chief executive Vikram Pandit was buying a stake in the Indian financial services company.
A $1.6-billion writedown of its goodwill and assets in its European operations last Monday has triggered fresh speculation that Tata Steel is poised to divest more assets and factories in Europe.
HT reports.
The sell-off chorus gets louder
It was a tough quarter for Wal-Mart Stores Inc. The world's largest retailer reported today that its first-quarter profit edged up slightly, but the company struggled with a sales slump in its namesake business.
A federal judge in Kansas City, Kansas, ordered Dow Chemical Co to pay $1.2 billion in a price-fixing case involving chemicals used to make foam products in cars, furniture and packaging, according to court documents.
A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.
Heineken UK has acquired a 3.21% stake in Vijay Mallya’s flagship United Breweries, which owns best-selling beer brands such as Kingfisher and Zingaro, among many others, the company said in a regulatory filing with the Bombay Stock Exchange.
Subway, the US-based restaurant chain, is now looking at increasing its vegetarian options to suit the Indian palate in a plan to grow the number of outlets to 4,000 over a decade from the current 350,
Rachit Vats reports.
The Audit Bureau of Circulations (ABC) on Wednesday released the circulation figures for the period of July–December, 2012. Average certified copies of Hindi language dailies was over 15 million and together with weekly newspapers and magazines it was over 17 million.
AirAsia today announced the appointment of Singapore-based management consultant Mittu Chandilya as the chief executive officer (CEO) of its India venture.
Govind Shrikhande, the mustachioed and mild-mannered managing director of India’s early retail chain Shoppers Stop, set up in 1991, is betting on toys, kids and partners to drive the company’s bookstore business Crossword, which is struggling in the age of e-commerce, and was rumoured to have recently been put on the block. Rachit Vats reports.
Taking a cue from sporting clubs of the West, domestic T20 franchises are wooing fans with an array of merchandise products and services - official jerseys, accessories , members' clubs - to cash in on their potential customer base. Himani Chandna Gurtoo reports.
HT Media Limited (HTML) on Tuesday announced an 82% growth in its net profit during the fourth quarter ending March 31, 2013 to
Rs. 40.1 crore from
Rs. 22 crore during the same quarter of the previous year.
HT reports.
Shares of drug maker Ranbaxy Laboratories ended 3.6% up at Rs. 455.50 on Tuesday after crashing 4% in early trade on the Bombay Stock Exchange following a $500-million (about Rs. 2,750 crore) fine imposed by US authorities on the company for selling adulterated medicines in the US and lying about it to the authorities.
In a move that is likely to soothe frayed nerves of anxious investors, the government is likely to bring to Cabinet a proposal to hammer out an out-of-court settlement with Vodafone on its
Rs. 11,200-crore tax dispute.
HT reports.
All's well that end's well