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HindustanTimes Sun,26 Oct 2014

Business

Tesco chairman resigns over profits fiasco

The chairman of Britain's biggest retailer Tesco will resign after the supermarket group was found to have overstated profits by £263 million, it announced on Thursday.

Modi's big bang reforms coming post Diwali

Modi government’s economic reform measures leading into Diwali — labour, diesel and coal — have lifted Indian stock markets by 3% in the last week alone. Now expect the trading New Year that begins Thursday to usher in bigger initiatives.

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

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.

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.

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.

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.

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

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.

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.

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.

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

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.

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.

AI Dreamliner loses ground contact, Italy scrambles jets

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.

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.

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