NCLT refuses to hear ICICI Bank’s insolvency plea against Era Infrastructure

In a setback to ICICI Bank, the National Company Law Tribunal (NCLT) has rejected the private lender’s plea to initiate insolvency proceedings against Era Infrastructure (India), citing “duplicacy” of... Read more »

JLR sales drop 13% at 39,185 units in April

Tata Motors-owned Jaguar Land Rover (JLR) today obtained retail sales of 40,385 units for April, down 2.3 per cent from the same month last year. There has been a... Read more »

ArcelorMittal’s first quarter sees net income drop 66% to $400 million

Steel giant ArcelorMittal Thursday reported more than a 66 per cent drop in its net income to $0.4 billion for the quarter ended March 31, 2019. The world’s largest... Read more »

India’s fiscal deficit reaches 4.52% of GDP in February-end says report

India’s fiscal deficit was at Rs 8.51 lakh crore in February-end reaching 4.52 per cent of GDP, a senior Finance Ministry source told a news agency. The receipts are... Read more »

Reliance acquires British toy company Hamleys, set to become a front runner in the global toy retail industry

Reliance Brands Limited, a subsidiary of Reliance Industries and C Banner International Holdings has acquired 100% shares of Hamleys Global Holdings Limited, the parent of Hamleys brand from C... Read more »

PNB Housing net profit for the quarter up 51% to Rs 380 crore

PNB Housing Finance Thursday secured a 51 per cent increase in its consolidated net profit to Rs 379.77 crore for the fourth quarter ended March 2019. The company’s net... Read more »

Apollo Tyres Q4 net profit drops 66% because of repayment default by IL&FS

Shares of Apollo Tyres hit a 26-month low of Rs 185 apiece, down 5 per cent intra-day on the BSE on Thursday, after the company reported a drop of 66 per... Read more »

Yes Bank share jumps 6%, even after a downgrade by India Ratings

Yes Bank shares went up 6 per cent in late morning deals on Thursday after slipping nearly 2 per cent in early trade after ratings agency India Ratings (Ind-Ra)... Read more »

IL&FS resolution to be addressed, green cos’ Rs 12,000 cr debt to be settled by July: Official

Loan exposure worth Rs 12,000 crore of almost 55 green companies of crisis-hit IL&FS group is likely to be settled by July end, a senior government official said as... Read more »

Titan hits a 14.4% increase in profit for Q4 at Rs 348 crore

Watches and accessories maker Titan Company Ltd on Wednesday secured a 14.4% jump in its consolidated net profit for the quarter ended March 31, while revenue at the maker... Read more »