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HindustanTimes Fri,01 Aug 2014

Business

Maruti Suzuki Q1 net up 20.7% at Rs. 762.28 crore

Driven by robust sales, cost reduction and forex gains, the country's largest carmaker Maruti Suzuki India on Thursday reported 20.69% increase in net profit at Rs. 762.28 crore for the first quarter ended June 30, 2014-15.

Samsung profit falls as smartphone sales slow

Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

WTO faction discussing customs deal without India

New Delhi wants the deal, which must be approved on Thursday, be accompanied by a parallel agreement giving it more freedom to subsidise and stockpile food grains than allowed under WTO rules.

Govt rules out any tax amnesty scheme; vows re-look at GAAR

The government on Wednesday said it will not come up with any tax amnesty scheme to unearth black money as it acts as a disincentive to honest tax payers.

Innovation to be key in Infosys’ strategy, says Vishal Sikka

Innovation and building new solutions to meet cuastomer needs will be centre to Infosys’ strategy, said Vishal Sikka, who is set to take over as the CEO and MD of the software services firm on Friday. The new leadership team will  broadly stick to the plan put in place by founders, he added.

Indian airline companies headed for $1.4 bn loss in 2014-15: CAPA

Indian airlines are headed for another large loss in 2014-2015 with risks peaking for some carriers, a report by aviation consultancy firm Centre for Asia Pacific Aviation (Capa) has said.

HCL Tech Q4 Net up 53.7% to Rs. 1,834 crore, beats estimates

India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7% jump in its consolidated net profit to Rs. 1,834 crore for the fourth quarter ended June 30, 2014.

Sensex surges 96 pts to reclaim 26K level; Airtel up, L&T down

Solid gains in Bharti Airtel, ICICI Bank and HDFC shares helped the benchmark Sensex on Wednesday log its first rise in three sessions and end about 96 points higher to reclaim the 26K level despite sharp losses suffered by L&T.

A billion dollar bet: Seven reasons why Flipkart is hot in the market

It is not really a coincidence when Amazon.com announces that it would invest $2 billion (Rs 12,000 crore) in India exactly a day after Flipkart announces it has raised a record $1 billion in the latest round of funding. Read: Amazon to invest $2 billion more in India

Sun Pharma to seek shareholders nod for Ranbaxy acquisition

Mumbai-based Sun Pharmaceutical Industries will seek shareholders nod for its $4 billion acquisition of Ranbaxy Laboratories in a court convened meeting on August 22.

Third try? S Africa’s MTN in talks to buy Tata’s telecom arms

South Africa’s largest telecom operator, MTN, is looking to foray into the Indian market again, this time by acquiring Tata Teleservices and Tata Maharashtra Ltd, sources with said.

Amazon lines up $2 billion for expansion in India

Amazon, which launched its India operations in June last year, has been making a big push into the country’s rapidly-growing online retail market. Even though a late entrant, the company has big plans for India.

$1 billion in its war chest: What Flipkart can learn from Alibaba

India's internet retailing sector grew 20% last year by value, according to Euromonitor International. Yet it's hard to see any single player in India emerging with Alibaba-like market share. Amazon says to invest $2 bn more in India, a day after Flipkart $1bn funding

Gold falls 0.11% on weak global cues

Tracking weak trend overseas, gold futures fell 0.11% to Rs. 27,835 per 10 grams on Wednesday as speculators reduced their exposures amidst a weak global trend.

BlackBerry to acquire German security solutions firm

BlackBerry will acquire German security solutions firm Secusmart GmbH as part of its efforts to ramp up enterprise service offerings. Secusmart provides anti-eavesdropping solutions, among other things, for government organisations.
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