IT/ITes

  • An image of Lakshmi, is placed between monitors displaying share price index at a share trading market in the northern Indian city of Chandigarh

    The BSE Sensex rose more than 1.5 percent on Thursday to snap a three-day losing streak as lenders such as ICICI Bank surged on value buying, earnings expectations and hopes of gains in bond portfolios ...

  • To match feature INDIA-EDUCATION/

    BANGALORE/MUMBAI (Reuters) - Wipro (WIPR.NS), India's third-biggest IT services exporter, posted forecast-beating quarterly profit on Thursday and said it expects a stronger year ahead on increased spending by overseas clients. The company is part of a $100 billion-plus Indian outsourcing sector that generates about 90 …

  • Bangalore, April 17 (IANS) India's third largest software exporter Wipro Thursday projected higher average revenue of $1,735 million ($1.74 billion) from its flagship IT services business for first quarter ...

  • Bangalore, April 17 (IANS) India's third largest software exporter Wipro Ltd has reported net profit of Rs.2,230 crore for fourth quarter (January-March) of fiscal 2013-14, registering an increase of 41 ...

  • Mumbai, April 17 (IANS) A benchmark index of Indian equities markets closed 352 points or 1.58 percent up Thursday, breaking a three-day losing streak. All the sectors ended trade in green. The rally was ...

  • A man walks past Bombay Stock Exchange building in Mumbai

    Reuters Market Eye - The BSE Sensex and the Nifty rise more than 1 percent each. IT outsourcers recover from steep falls on Wednesday after Tata Consultancy Services Ltd and HCL Technologies Ltd post better-than-expected ...

  • HCL Technologies' Q3 net up IANS - 13 hours ago

    New Delhi, April 17 (IANS) IT services exporter HCL Technologies posted 59 percent increase in net profit in the quarter ended March 31, a company statement said here Thursday. The net profit stood at ...

  • People walk in front of the HCL Technologies Ltd office at Noida

    IT services exporter HCL Technologies(HCLT.NS) beat market expectations with a 59 percent rise in March-quarter profit, helped by increasing demand for outsourcing services. Consolidated net income for the three months ended March 31 rose to 16.24 billion rupees from 10.2 billion rupees in the same period a year earlier, …

  • Shares in HCL Technologies rise after the company reported a better-than-expected net profit for January-March quarter on the back of increasing demand for outsourcing services. The Indian IT services ...

  • Disappointing results from Google Inc and IBM may unnerve investors shaken by a strong recent selloff in tech stocks, underscoring the challenges the Internet and IT sectors face as corporate report cards come due in coming weeks. IBM blamed weak hardware sales for its lowest quarterly revenue in five years, worsened by …

  • Tata Consultancy Services Ltd (TCS.NS), India's largest IT services exporter, expects a further rise in revenue growth in the new financial year, it said on Wednesday, after reporting a better than expected 51.5 percent increase in the last three months. Over the last two years TCS has been increasing its profits at a …

  • New Delhi, Apr.16 (ANI): The digital and technology adoption is driving performance improvement and increase in market reach.

  • Sensex slumps 207 points, at 2-1/2 week closing lo … Reuters - Wed 16 Apr, 2014 4:39 PM IST

    The BSE Sensex and the Nifty on Wednesday fell to their lowest close in 2-1/2 weeks as software stocks slumped on caution ahead of India's top IT services provider Tata Consultancy Services' earnings report ...

  • Mumbai, April 16 (IANS) A benchmark index of the Indian stock markets Wednesday fell 208 points or 0.92 percent, as capital goods, information technology (IT) and technology, entertainment and media (TECK) ...

  • Software stocks drag Sensex to 2-1/2 week closing  … Reuters - Wed 16 Apr, 2014 3:41 PM IST
    Bombay Stock Exchange building is pictured next to a police van in Mumbai

    The BSE Sensex and the Nifty fell on Wednesday to mark their lowest close in 2-1/2 weeks as software stocks slumped on caution ahead of India's top IT services provider Tata Consultancy Services' quarterly ...

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Oil & Gas

  • Brent crude oil slipped towards $109 a barrel on Thursday, after hitting a six-week high in the previous session, as traders assessed whether rising tensions in Ukraine could disrupt supplies from Russia. With Russian troops massing on the border with Ukraine and three separatists killed overnight in eastern Ukraine, the …

  • China's economy is doing better than official data suggests, the Commerce Ministry said a day after figures showed growth at an 18-month low, adding that targets for exports and imports this year should be met despite some caution over the trade outlook. Ministry spokesman Shen Danyang said a rise in export deliveries, …

  • New Delhi, April 16 (IANS) The Aam Aadmi Party (AAP) Wednesday alleged that the UPA government was going ahead on the award of hydrocarbon fields in the country's western offshore to the Essar group despite no contract having been signed by the two parties, which can potentially cause a loss of Rs.52,000 crore to the national …

  • China Inc joins the big league in oil and gas serv … Reuters - Tue 15 Apr, 2014 3:09 AM IST
    AERIAL VIEW OF A SHIPYARD OF CHINA STATE SHIPBUILDING CORP IN SHANGHAI.

    State-run and privately controlled Chinese rig makers, oil and gas services and engineering firms are showing up in the supply chain everywhere from the Middle East, the North Sea and North America to frontier areas like Mozambique. Helped by strong government support, plentiful labour and an abundant supply of raw materials …

  • New Delhi, April 13 (IANS) Uganda, sitting on a "pile of uranium", is seeking India's knowhow to develop its reserves and open up new vistas of energy cooperation between historically linked countries, a visiting Ugandan minister has said. Ephraim Kwamuntu, Ugandan minister of water and environment, said his country was …

  • Vedanta full-year oil and gas output rises Reuters - Thu 10 Apr, 2014 4:14 PM IST

    REUTERS - London-listed Vedanta Resources Plc said its average gross oil and gas production increased 6 percent during the financial year ended March 31, driven by higher output at its Rajasthan block ...

  • New Delhi, April 9 (IANS) State-run explorer Oil India Limited (OIL) Wednesday announced it has become the first Indian company to make a foreign currency bond issuance worth $1 billion in its debut US dollar bond sale programme. "Oil India has made an inaugural $1 billion dual-tranche US Dollar (USD) unsecured bond issue …

  • Ascent of the Advisor India Today Group - Tue 8 Apr, 2014 12:04 AM IST

    Consultancy firms thrive amid a wilting economy as more and more companies rush to them for all kinds of fixes.

  • Wall Street falls on broad weakness, Pfizer drags Reuters - Mon 7 Apr, 2014 10:41 PM IST
    Traders work on the floor of the New York Stock Exchange April 7, 2014. REUTERS/Brendan McDermid

    U.S. stocks fell on Monday, putting the S&P 500 on track for its biggest three-day drop in two months, as investors rotated into defensive names to protect against further declines. Momentum shares - stocks ...

  • Wall St flat as momentum stocks stabilize; Pfizer  … Reuters - Mon 7 Apr, 2014 8:48 PM IST
    A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York April 4, 2014. REUTERS/Lucas Jackson

    U.S. stocks were little changed on Monday, as recent weakness in so-called momentum names appeared to abate while a decline in shares of Pfizer weighed on the market. Declines in momentum shares - fast-growing ...

  • SGS moving climate project audit business to India … Reuters - Wed 2 Apr, 2014 3:07 PM IST

    International certification firm SGS (VTX:SGSN.VX - News) is moving its Britain-based auditing business for clean energy projects to India in an attempt to cut costs, the company's head of environmental services said on Wednesday. Geneva-based SGS is one of the main auditors of projects under the U.N.'s Clean Development …

  • Vice president launches 'compendium' on energy IANS - Wed 26 Mar, 2014 6:58 PM IST

    New Delhi, March 26 (IANS) Vice President Hamid Ansari Wednesday released the book "The Political Economy of Energy and Growth" edited by Delhi Lt. Governor Najeeb Jung, who is known for his expertise in the energy sector. The book, published by Oxford University Press, covers a wide range of global energy debates, such …

  • India seeks $90 bln investment in infra projects from … Contify Investment - Wed 26 Mar, 2014 5:39 PM IST

    New Delhi: The Indian government has requested Qatar to invest in the Delhi-Mumbai industrial corridor project worth $90 billion and other infrastructure projects in the country, Livemint reported. E M S Natchiappan, minister of state for commerce said that Qatar will also be able to make profits by investing in various …

  • ONGC, Russia's Rosneft may join forces on oil flow … Reuters - Tue 25 Mar, 2014 10:07 PM IST
    An engineer of Oil and Natural Gas Corp (ONGC) works inside the Kalol oil field in Gujarat September 12, 2009. REUTERS/Amit Dave/Files

    Rosneft (MCX:ROSN.ME - News), the world's top listed oil producer by output, may join forces with Indian state-run Oil and Natural Gas Corp (NSI:ONGC.NS - News) to supply oil to India over the long term, the Russian state-controlled company said on Tuesday. Rosneft CEO Igor Sechin, an ally of President Vladimir Putin, …

  • New Delhi, Mar.25 (ANI): The Confederation of Indian Industry (CII) on Tuesday expressed its concerns and reservations on the Election Commission's decision to defer the government's proposal on gas prices, ...

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Banking & Finance

  • Infosys records 25% rise in net profit in Q4 FY'14 Contify Investment - Tue 15 Apr, 2014 4:27 PM IST

    April 15: Indian information technology firm Infosys Ltd has registered a 25% surge in its net profit for the fourth quarter in the 2013-14 fiscal at Rs 29.92 billion as against Rs 23.9 billion for the ...

  • Micromax keen to purchase stake in Korea's Pantech Contify Investment - Tue 15 Apr, 2014 4:27 PM IST

    April 15: Indian mobile handset maker Micromax Informatics Ltd has shown interest to acquire stake in the Korean mobile phone manufacturer Pantech in order to expand its business in the region. Samsung ...

  • Fitch revises Tata Steel's outlook to stable from  … Contify Investment - Tue 15 Apr, 2014 4:27 PM IST

    April 15: Indian steel manufacturer Tata Steel and its European unit Tata Steel UK Holdings has received a negative to stable outlook from Fitch Ratings with hopes of improvement in the firm's financial books in the near-to-medium term, reported Business Standard. Tata Steel's long-term foreign currency issuer default …

  • Lodha purchases land from Clariant India for Rs 11.54 … Contify Investment - Tue 15 Apr, 2014 4:27 PM IST

    April 15: Indian real estate firm Lodha group has purchased an 88 acre land parcel from Clariant India for Rs 11.54 billion at Rs 131.1 million per acre located in Thane, Maharashtra, reported Business Standard. At a floor space index (FSI) of 8 million square feet, the deal is amounted at Rs 1,442.5 per square feet.  …

  • Banks offload Rs 100 bln bad loans in Mar 2014 Contify Banking - Mon 14 Apr, 2014 11:57 PM IST

    April 14: Indian banks have sold non-performing assets (NPAs) of around Rs 100 billion to asset reconstruction companies (ARCs) in March this year, which is so far the highest single-month figure. The total assets, including restructured assets, were recorded at 10.2% as on December 31, 2013 and the total NPAs of the banks …

  • Punjab National Bank rolls out 120 branches on Foundation … Contify Banking - Mon 14 Apr, 2014 11:57 PM IST

    April 14: State-run lender Punjab National Bank has unveiled 120 branches across the country on the eve of 120th Foundation Day of the bank on April 12. The 120th branch has been launched near the birth place of the bank's founder Lala Lajpat Rai, the bank stated in a statement. The bank had also received capital infusion …

  • Gruh Finance net profit surges by 21.3% at Rs1.76 bln … Contify Banking - Mon 14 Apr, 2014 11:57 PM IST

    April 14: Housing Development Finance Corporation's (HDFC) arm Gruh Finance has recorded 21.3% rise in net profit at Rs 1.76 billion in the last fiscal ended on March 31, 2014 as compared to Rs 1.45 billion a year ago. For the March quarter, the housing finance company recorded 16.7% jump in net profit at Rs 736 million …

  • AI gets $200 mln funding from BoI to buy 3 Dreamli … Contify Investment - Mon 14 Apr, 2014 11:57 PM IST

    April 14: Air India has received a $200 million loan from the state-owned lender Bank of India (BoI) in order to purchase three Dreamliners aircraft at a certain rate of interest, stated official sources. Both BoI and State Bank of India have been involved in financing purchase of aircraft in the past.

  • AI to reap revenues from in-flight advertising, re … Contify Investment - Mon 14 Apr, 2014 11:57 PM IST

    April 14: State-owned airline Air India Ltd is likely to rent out the excess property it owns all over the country to banks and other firms at about Rs 1 billion and carry out in-flight advertising to generate more revenues, stated a senior company official. It also aims to rent more floors at its 22-storeyed Air India …

  • Bharti may enter into JV with France's Carrefour Contify Investment - Mon 14 Apr, 2014 11:57 PM IST

    April 14: Mobile operator Bharti Group promoter Sunil Mittal is in discussions with French retail firm Carrefour to carry out a cash-and-carry joint venture following its six-year strategic partnership break-off with Walmart Stores Inc in October last year, reported The Economic Times. Bharti is likely to acquire 74% stake …

  • Ambuja Cement to invest Rs 8.02 bln in ongoing pro … Contify Investment - Mon 14 Apr, 2014 11:57 PM IST

    April 14: Holcim Group's Ambuja Cement is planning to invest Rs 8.02 billion in many ongoing projects, which are currently under construction, reported Business Line. The company had made investments worth Rs 7.25 billion in various projects and had registered 4.5 million tonnes cement capacity addition in 2013. It is …

  • SEBI to issue new order on Jet-Etihad deal this we … Contify Investment - Mon 14 Apr, 2014 11:57 PM IST

    April 14: The Securities and Exchange Board of India (SEBI) may issue new order in the Jet and Etihad Airways deal after reexamining any possible new information on the deal this week, reported Business Line. The deal is supposed to affect the control in Jet following its 24% stake buyout by Etihad at Rs 20.58 billion, …

  • State Bank of Hyderabad expends Rs 119.1 mln on CSR … Contify Banking - Mon 14 Apr, 2014 7:25 PM IST

    April 14: State Bank of Hyderabad, an associate bank of country's largest lender State Bank of India, has spent Rs 119.1 million towards its corporate social responsibility in the last fiscal, The New ...

  • FinMin considers fixed tenure for CMDs of PSU bank … Contify Banking - Mon 14 Apr, 2014 7:25 PM IST

    April 14: The ministry of finance is planning to accord a fixed term to chairman and managing directors (CMDs) of public sector banks, a senior ministry official informed. CMDs of PSU banks have a retirement age of 60 years. Last week, the ministry had declined the proposal of the Reserve Bank of India to split the post …

  • Syndicate Bank rolls out eight branches in Andhra  … Contify Banking - Sat 12 Apr, 2014 4:45 PM IST

    April 12: Indian state-run lender Syndicate Bank has rolled out eight branches in Andhra Pradesh, increasing its branch network in the state to 500. Accordingly, the number of branches operate by the bank across the country now stands at 3,260.

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