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  • Union Bank to raise up to ₹7,400 crore

    18 May, 2018 3:17 PM 38

    Public sector Union Bank of India on Friday said it has got approval from its board to raise up to ₹7,400 crore in the current financial year by way of core equity capital or through bonds. The bank has capped the money to be raised from additional tier I (ATI) bonds or tier 2 bonds to ₹3,700 crore within the overall capital raising limit of ₹7,400 crore

  • Toyota adds Yaris to lineup

    18 May, 2018 3:16 PM 40

    Sedan starts from ₹8.75 lakh, to vie with City, Verna, Ciaz Toyota Kirloskar Motor on Friday introduced its new mid-segment sedan Yaris in India with an introductory starting price of ₹8.75 lakh ex-showroom all India. The top most model is priced at ₹14.07 lakh ex-showroom. The company is targeting sales of 4,000 Yaris units by the end of May. The model

  • Central Bank's Q4 net loss widens over 3-fold to Rs 2,114 cr

    18 May, 2018 1:40 PM 58

    Central Bank of India today said its net loss widened more than three-fold to Rs 2,114 crore in the March quarter due to higher provisioning for bad loans. The bank had reported a net loss of Rs 592 crore in the January-March quarter of the previous fiscal, 2016-17. Its total income during the fourth quarter of 2017-18 also declined to Rs 6,301.50 crore

  • Reserve Bank of India slaps ₹ 5 cr. fine on South Indian Bank

    18 May, 2018 1:27 PM 41

    The penalty is levied for non-compliance with RBI directives. The Reserve Bank of India (RBI) has slapped a penalty of ₹ 50 million on South Indian Bank Limited for non-compliance with the directions issued by it. The non-compliance pertains to Income Recognition and Asset Classification (IRAC) norms, Know Your Customer (KYC) norms and treasury function

  • RBI allows NRIs to raise stake in Parag Milk to 24 pc

    18 May, 2018 12:53 PM 49

    The Reserve Bank (RBI) has allowed non-resident Indians (NRIs) to raise their stake in Parag Milk Foods up to 24 percent from earlier limit of 10 percent. The Non Resident Indians (NRIs) investment limit under Portfolio Investment Scheme in Parag Milk Foods Ltd has been increased from 10 percent to 24 percent of its paid up capital, RBI said in a notification

  • Ashok Leyland’s Q4 net profit up by 40%

    18 May, 2018 11:31 AM 37

    Ashok Leyland, flagship of the Hinduja Group, reported a 40% jump in the fourth quarter net profit at ₹ 667 crore compared to ₹ 476 crore in same quarter the previous year. It also reported a 32% increase in its revenue to ₹ 8,772 crore for the fourth quarter ended March, 2018 as against ₹ 6,654 crore in the same quarter the previous year. Profit before

  • Bajaj Auto Q4 standalone profit rises 35% YoY to Rs 1,080 crore, meets estimates

    18 May, 2018 8:56 AM 66

    Bajaj Auto, India’s fourth largest two-wheeler maker, on Friday beat analysts' expectations with a 34.67 percent rise in net profit for the March quarter, led by a sustained growth in exports and a revival in domestic demand. The company's net profit came in at Rs 1,079.87 crore, compared to the Rs 1,042 crore average of 16 analysts’ estimates in a Reuters

  • Bajaj Finance's surge in 2 days pushes m-cap beyond Sun Pharma, IndusInd Bank

    18 May, 2018 8:37 AM 46

    Gaining around 20 percent in this calendar year so far, Bajaj Finance has managed to boost its market capitalisation as well. In fact, the rise in the stock between Thursday and Friday has pushed up its market cap beyond Sun Pharma and IndusInd Bank. Bajaj Finance saw its market capitalisation soaring to Rs 1,23,124.97 crore, followed by IndusInd Bank and Sun Pharma

  • Avenue Supermarts falls 7% as Radhakishan Damani to sell stake to meet MPS norm

    18 May, 2018 8:05 AM 44

    Promoter Radhakishan Damani will sell up to 1 percent stake in open market. Retail chain Avenue Supermarts share price fell 6.6 percent intraday Friday as promoter Radhakishan Damani will sell up to 1 percent stake in open market. "Promoter Radhakishan Shivkishan Damani has conveyed his intention to sell the equity shares of the company to comply with the requirements

  • Reliance Power quits Tilaiya project

    17 May, 2018 3:53 PM 58

    Sells stake to Jharkhand Urja Vikas Nigam for ₹112.64 crore. Reliance Power Limited has pulled out of the special purpose vehicle set up to develop an ultra mega power project at Tilaiya in Jharkhand. The company has informed the stock exchanges that it has sold its entire equity holding in the special purpose vehicle set to implement the project