State Bank of India (SBI) reported a net loss of Rs 48.75 billion for the April-June 2018 period (Q1), its third straight quarterly loss, on account of huge provisions for erosion in value of its investment in bonds and an increase in operating expenses due to wage revision and enhanced limits for gratuity.

However, its asset quality profile improved with a fall in bad loans and improvement in provision for stressed assets. Also, its net interest income (NII) and margins were better in Q1 compared to the same quarter last year.

DLF Cybercity Developers (DCCDL), in a joint venture with Singapore’s sovereign wealth fund GIC, is planning to double the size of its portfolio to almost 60-million square feet over the next decade, the company said while announcing its results for the June quarter.

India’s largest real estate firm reported a 56 per cent increase in its consolidated net profit to Rs 1.72 billion for the first quarter. Its net profit stood at Rs 1.1 billion in the year-ago period, the company said in its BSE filing.

Ahead of the Independence Day, the Delhi Police inducted India's first all-woman Special Weapons and Tactics (SWAT) team for anti-terrorist operations.

After rigorous training of around 15 months from specialists all across India and abroad, 36 women commandos from the northeastern states have been inducted into this squad. While 13 members are from Assam, rest of them hail from Arunachal Pradesh, Sikkim and Manipur.

Apollo Hospitals Enterprise (AHEL) has said Malaysian group IHH Healthcare’s acquisition of Fortis Healthcare would create a healthy competition, clarifying it is very early to say whether it would end the 50: 50 Apollo Gleneagles Hospitals (Kolkata) joint venture with IHH Healthcare.

MUMBAI: Ford Motor’s India is close to posting a net profit, driven by strong gains in domestic sales and booming exports that helped the automaker’s local unit post a 20% expansion in turnover for the third consecutive year.

In fiscal 2018, Ford India’s domestic operations crossed a billion dollars in turnover for the first time. Exports accounted 2.4 times local sales, taking the total turnover to $3.4 billion.

New Delhi: Maruti Suzuki India Ltd is building a website where car buyers can compare prices, in a direct challenge to platforms such as CarWale and CarDekho, which provide similar services. The country’s largest carmaker expects such a platform to help generate sales leads, one person aware of the plans said, as online queries generate data and user information that can be shared with its own dealers.

Retreating from its lifetime high, the BSE Sensex dropped 106 points in opening trade on Friday on profit-booking in recent gainers amid a weak trend at other Asian markets.

The 30-share barometer fell by 106.02 points or 0.27 per cent to 37,918.35, with banking, PSU, metal, realty and FMCG stocks falling up to 0.30 per cent.

Telecom operators body Cellular Operators Association of India on Thursday urged telecom secretary Aruna Sundararajan to address the issue of frequent suspension of internet services by state governments, especially Rajasthan, which has suspended such services for more than 140 times in the last one year.

Petroleum minister Dharmendra Pradhan on Thursday said national oil explorer ONGC is the promoter of oil marketing company HPCL and “there should be no confusion about it”. FE had earlier reported that though HPCL was taken over by ONGC in January this year, the former is yet to recognise the upstream major as its promoter in the mandatory quarterly filings with the stock exchanges.

Hitting a six-month high, the ICICI Bank stock gained 4.64% and ended the session at Rs 332.95 on Thursday on the back of optimism that the bad loan cycle may be nearing an end. ICICI Bank’s stock has risen 28.40% from its July low. In a note to investors, Credit Suisse said ICICI Bank has been reflecting low new NPL formation over the past few quarters.

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