Business

  • Subrata Roy
    Aug 03, 2015 23:02 IST

    You are in jail by choice, SC bench tells Sahara chief

    The Supreme Court on Monday came down heavily on Sahara group chief Subrata Roy for delaying the sale of properties to refund Rs 36,000 crore including interest to its investors and asked Securities and Exchange Board of India (Sebi) to move an application seeking appointment of a receiver for sale of the company’s properties.

  • Industry
    Aug 03, 2015 23:24 IST

    Manufacturing growth hits 6-month high on export orders

    The data comes a day ahead of the RBI’s monetary policy review. In its last policy review on June 2, the central bank had cut its repo, or key lending rate by 0.25 percentage points for the third time this year, to spur investment and growth.

  • Air India
    Aug 03, 2015 23:37 IST

    Air India set to renew fleet insurance, invites bids

    In 2014, Air India had to battle with a 15% increase in premium, most of which was due to the market hardening after the Malaysian Airlines crash.

  • Nokia Here maps
    Aug 03, 2015 23:06 IST

    Audi, Mercedes, BMW team up to buy Nokia's Here maps

    The deal allows auto makers BMW, Mercedes and Audi to offer new premium features in their luxury cars, shaking up the pecking order between car makers, parts suppliers and software rivals such as Uber, Google or Apple.

  • investment adviser
    Aug 03, 2015 23:07 IST

    Cloud on India, PE firms selling out to one another

    Most of the private equity (PE) deals which have been completed in 2015 have been secondary transactions with private equity (PE) firms selling their stake in an investee company to each other.

  • Hero MotoCorp announces 2014 lineup
    Aug 03, 2015 22:57 IST

    Hero Moto profit surges 33% on low input costs

    India’s largest two-wheeler manufacturer Hero MotoCorp on Monday reported a 33.33% growth in its net profit at Rs750.34 crore for the quarter ended June 30, largely due to a significant drop in prices of raw materials even as its suffered a 1.2% decline in turnover due to lower sales.

  • Maggi
    Aug 03, 2015 19:52 IST

    No job cuts due to Maggi ban, says Nestle India's new MD

    Suresh Narayanan was made the MD of Nestle India at a time when it is facing an unprecedented situation due to nationwide ban on Maggi noodles. Nestle India had recalled its previous managing director Etienne Benet on July 24 and replaced him with the Indian - Narayanan who was heading the company's operations in Philippines.

  • Greece Debt
    Aug 03, 2015 14:50 IST

    Greek manufacturing collapsed in July as banks close doors

    Greek manufacturing activity plunged in July to its lowest level on records going back 16 years because of a shortage of new orders and significant supply issues caused by a three-week bank shutdown, a survey revealed on Monday.

  • Snapdeal
    Aug 03, 2015 12:26 IST

    Snapdeal to raise $500mn from Alibaba, SoftBank, Foxconn

    E-commerce giant Snapdeal is set to raise $500 million in investment from Alibaba Group Holding Ltd, SoftBank Group Corp and Foxconn, the trading name of Hon Hai Precision Industry Co Ltd, a person familiar with the matter said on Monday.

  • Budget, black money
    Aug 03, 2015 14:39 IST

    HSBC profit falls 3.8% in Q2, Brazil sell-off agreed

    HSBC announced on Monday that net profit fell 3.8% in the three months to June, as the company agreed to sell its Brazilian business for $5.2 billion to Brazil's Banco Bradesco.

  • Gold
    Aug 03, 2015 12:36 IST

    Gold struggles after biggest dip in two years

    Gold steadied not far above a 5-1/2-year low on Monday, struggling to scale higher at the start of the month after its deepest loss in two years in July, as expectations for a near-term hike in US interest rates kept sellers nearby.

  • HCL Technologies CEO Anant Gupta
    Aug 03, 2015 11:30 IST

    HCL Tech Q4 net profits slips 2.8% to Rs 1,783 crore

    India's fourth-largest software services firm HCL Technologies reported a 2.8% decline in its consolidated net profit on Monday, amounting to Rs 1,783 crore for the fourth quarter.

  • Bombay stock exchange
    Aug 03, 2015 10:27 IST

    Sensex rises 72 points ahead of RBI policy meet

    The BSE banking index spurted by 0.99%. Continuing its upward journey for the fourth straight day, the 30-share BSE barometer rose 72.50 points to close at over one-week high of 28,187.06.

  • Rupee
    Aug 03, 2015 08:05 IST

    Now there's an app that delivers forex at your doorstep

    Now, all you need is to swipe your phone to get the best foreign exchange rate in town! And, if that is not enough get it delivered at your door step, too. Thanks to a new smartphone app for forex introduced by the country’s first foreign exchange aggregator, FXKart.

  • Indian Rupee
    Aug 03, 2015 09:54 IST

    Rupee closes 9 paise higher at 64.04 against USD

    The rupee recovered 17 paise at 63.96 against the dollar in early trade on Monday, snapping its two-day losing run, on fresh selling of the US currency by exporters amid fall in global crude prices.