Bank of Baroda (BoB) on Thursday reported a 28% year-on-year rise in its consolidated net profit at Rs 826.13 crore for the June quarter of 2019-20 financial year. This is the lender’s first earnings announcement after it merged Dena Bank and Vijaya Bank with itself.

In the year-ago period, Bank of Baroda’s consolidated net profit was at Rs 645.71 crore.

Cairn India Holdings Limited (CIHL), an overseas subsidiary of Vedanta Ltd, will exit its entire investment in Anglo American Plc, Vedanta said on Friday.

In December 2018, Cairn India Holdings purchased an economic interest through a structured investment in equity shares of Anglo-American Plc from Volcan Investments for a total consideration of Rs 3,812 crore.

Tata Motors did far worse than expected in the June quarter, with a consolidated loss of Rs 3,680 crore.

Most brokerages had expected a loss of around Rs 2,000 crore. This is its fourth loss in five quarters, with sales volume down 21 per cent over the year-ago period.

SoftBank Group’s founder Masayoshi Son launched a second Vision Fund, seeking to extend his reign as the world’s most influential technology investor.

The Japanese conglomerate will commit $38 billion to Vision Fund 2 with the goal of raising a total of $108 billion, SoftBank said Friday. Apple Inc, Microsoft Corp, sovereign wealth fund of Kazakhstan and a number of Japanese finance companies are also expected to contribute capital, SoftBank said.

New Delhi: Ailing telecom firm BSNL has lost the mandate for rolling out mobile service project in Arunachal Pradesh and two districts of Assam on recommendation made by an inter-ministerial panel headed by Niti Ayog CEO Amitabh Kant.

The project was funded through Universal Services Obligation Fund (USOF) -- which was formed by the Centre to help fund projects in rural areas -- with an outlay of ₹1,460 crore.

New Delhi: Amazon Seller Services Private Limited on Thursday moved against a Delhi High Court interim order, which had restrained e-commerce marketplaces such as Amazon, Flipkart and Snapdeal from advertising, displaying or offering for sale products belonging to Amway, Modicare and Oriflame without their consent.

Country’s largest lender, State Bank of India (SBI) has revised their export related service charges. This has been done to improve the ease of doing business and provide clear visibility of cost structure to exporters. While revising the charges, SBI has taken into consideration the views from various export promotion councils.

WhatsApp, which has over 400 million users of its messaging service in India, plans to roll out its much-awaited payments service in the country later this year, more than a year after it began testing the offering here.

The Facebook-owned company has been testing its payments service in the country since last year with about a million users, but could not launch full-fledged services as it has been awaiting regulatory approvals.

Shriram Transport Finance Company Ltd is raising $200 million (around Rs 1,420 crore) from International Finance Corporation and other investors through a securitisation structure

IFC, the World Bank's private-sector investment arm, said the structure would help mitigate foreign exchange risks and attract patient capital from pension funds, insurance firms, and foreign institutional investors.

Mumbai: Domestic equity benchmark BSE Sensex rallied over 300 points in early trade on Thursday tracking gains in HDFC twins and Infosys ahead of July derivatives expiry, amid positive global cues.

The 30-share index was trading 309.16 points or 0.82 per cent higher at 38,156.81 at 0945 hours; and the broader Nifty also surged 81.15 points or 0.72 per cent to 11,352.45.

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