Shares of Apollo Hospital Enterprises (AHEL) have surged 15% to Rs 1,087 per share on the BSE after the company posted a strong 70.86% year on year growth in net profit at Rs 601.6 million during the quarter ended June 30, 2018 (Q1FY19). It had a profit of Rs 352.1 million during the same period last year.

Bengaluru: India’s most valuable real estate firm DLF Ltd is planning to return to Hyderabad and Chennai, stepping out of its home market of National Capital Region (NCR), to develop new office and residential projects, a top executive said. The move follows the company achieving break-even in operating cash flow in the June quarter. After nearly eight quarters of spending more than cash inflows, DLF expects to start generating free cash flows from the December quarter.

New Delhi: Indian Oil Corp (IOC), the nation’s largest oil company, plans to invest Rs 20,000 crore in city gas distribution projects in the next five to eight years as it bets big on gas business to complement its traditional oil refining and marketing business, Chairman Sanjiv Singh said on Monday.

Mumbai: State-run Hindustan Petroleum Corp. Ltd (HPCL) has sought shareholder nod to borrow as much as 12,000 crore by selling debentures and bonds, according to its FY18 annual report. “Approval of the members of the company by way of special resolution is sought for private placement of unsecured/secured redeemable non-convertible bonds (NCDs)/debentures up to 12,000 crore (from domestic as well as overseas markets)

Mumbai: ITC Ltd, Wipro Consumer Care & Lighting Ltd and Cadila Healthcare Ltd are readying to submit binding offers to buy Kraft Heinz India’s popular nutritional drink brand, Complan, two people directly aware of the development said. All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard—managing the transaction, the people cited above said, requesting anonymity as the discussions are private.

Maruti Suzuki has released another teaser image of the new Ciaz facelift before its official launch takes place in India this month. The latest teaser image features one of Ciaz facelift's tail lamps, which seem to pick come inspiration from that of a BMW's. Maruti teased the new Ciaz last week as well when it released a video showing the updated sedan's headlamp design.

BENGALURU: Infosys is eyeing a slice of $5-billion opportunity in offering cybersecurity solutions to its 2,000-plus enterprise customers, that is expected to grow 10-12% CAGR in the the next five years.

Narsimha Rao Mannepalli, head of cloud, infrastructure and security (CIS) at Infosys, said there is renewed governance focus from the board on cybersecurity, and the company is betting on it in a big way, adding talent and restructuring a lot of their internal talent to this business segment.

Reversing all its early gains, the Indian rupee nosedived to its life-time low of 69.62, tumbling by 79 paise against the US dollar in morning trade today in line with weakening domestic equities and global markets rout.

Increased demand for the US currency from importers and banks amid fresh foreign fund outflows mainly hit the rupee sentiment, forex traders said.

The country’s second-biggest carmaker, Hyundai, showcased its India-centric electric sedan concept car Ionic at the Auto Expo 2018, held in Greater Noida in February this year. Now, the South Korean automobile giant is reportedly planning to bring an electric sports utility vehicle (SUV) and sedan to India, according to a news report in the Economic Times.

Lack of funds is leading to more problems than just non-payment of salaries at national carrier Air India. According to the Indian Commercial Pilots Association (ICPA), Air India has grounded 23 per cent of its present fleet, mainly due to lack of spares and poor maintenance.

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