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Business

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  • Sensex rises 110 points in early trade on global cues

    13 February, 2015 4:54 AM 14

    Continuing its rising streak for the fourth consecutive session, the benchmark BSE Sensex gained over 110 points in early trade on Friday on the back of a firming trend in the global market. However, discouraging Index of Industrial Production and retail inflation data limited the gains. The 30-share barometer moved up by 110.17 points, or 0.38 per cent, to 28,915.27 with healthcare

  • Rupee gains 26 paise against dollar in early trade

    13 February, 2015 4:46 AM 5

    Strengthening by 26 paise, the rupee on Friday rose to 62.05 against the dollar in early trade at the Interbank Foreign Exchange on fresh selling of the greenback by exporters and banks. Forex dealers said that besides selling of the dollar, a higher opening in the domestic stock market supported the rupee. The rupee had shed six paise to hit a fresh

  • MRF Q1 net up 80 %

    12 February, 2015 7:35 PM 8

    MRF has reported 4.8 per cent growth in its total income from operations (net) to Rs.3,353.01 crore in the first quarter ended December 31, 2014, up from Rs.3,200.57 crore in the same period in the previous year. The net profit has risen by 80 per cent to Rs.323.51 crore from Rs.179.89 crore. Net earnings per share stood at Rs.762.78 (Rs.10 face value)

  • Flipkart targets sales worth $8 b in 2015

    12 February, 2015 7:27 PM 7

    Leading online market place Flipkart is looking at sales worth $8-billion in the current year. The company has announced its ambitious plan at a Town Hall organised in a college auditorium in the city on Wednesday. The company is also targeting to sell one billion goods on its platform annually within a couple of years. In March last, Flipkart hit an annualized

  • Maharashtra bets on ease of doing business to woo investment

    12 February, 2015 7:25 PM 16

    The Maharashtra Government is attracting investment by changing several norms to ensure ease of doing business in the State. “Our basic focus is on ease of doing business. Maharashtra has always been a preferred destination for investors. The only problem it faced recently is the absence of ease of doing business due to bureaucratic delays and corruption

  • Hindalco net profitrises 8 per cent

    12 February, 2015 7:21 PM 7

    Hindalco, the flagship of the Aditya Birla group, announced 8 per cent jump in its net profit for the third quarter of 2014-15 at Rs.359 crore. The company’s revenues rose 18 per cent to Rs.8,603 crore during the quarter and operating profit was up 36 per cent at Rs.1,135 crore. The profitability would have been even better but for the increased allocation

  • Power Grid to raise Rs.1,500 crore

    12 February, 2015 7:18 PM 18

    Power Grid Corporation of India will raise Rs.1,500 crore through bonds to meet the capital expenditure plans for this year, its Chairman and Managing Director R. N. Nayak said. “For this financial year, we have capital expenditure plan of Rs.22,000 crore, out of which Rs.17,700 crore has already been spent. We need another Rs.1,500 crore to meet our capital

  • SAP India launches new suite

    12 February, 2015 7:11 PM 21

    SAP India on Thursday announced the launch of its new business suite SAP S/4 HANA, to help Indian customers. The new product is fully built on the advanced in-memory platform and SAP Labs India played an integral role in its architecture development, the company said. “As Indian enterprises aim to enter new markets and engage with their consumers across

  • Reliance Power to set up solar projects in Rajasthan

    12 February, 2015 6:59 PM 19

    Reliance Power and the Rajasthan Government, on Thursday, signed a memorandum of understanding (MoU) to develop 6,000 MW of solar power projects in the State in the next ten years. The MoU was signed here in the presence of Chief Minister Vasundhara Raje and Reliance Power Chairman Anil Dhirubhai Ambani. The Chief Minister also dedicated to the nation

  • Tata Steel buys three service centres in Nordic region

    12 February, 2015 6:57 PM 11

    Tata Steel has announced the acquisition of three services centres in Sweden, Finland and Norway to strengthen its offering to manufacturers in the region. A statement from the company said that Tata Steel in Europe, which is Europe’s second largest steel maker, had reached an agreement with steel producer SSAB to buy its strip products service centres