Engineering conglomerate Larsen & Toubro (L&T) on Wednesday reported a 36 per cent year-on-year rise in consolidated net profit to Rs 12.14 billion during the April-June quarter, against Rs 8.92 billion a year ago, helped by increase in revenue and improved operational efficiency.

Capital market regulator Securities and Exchange Board of India (Sebi) on Wednesday proposed Unified Payments Interface (UPI)-based payments for retail investors investing in initial public offerings (IPO). The move will help cut down the time taken between closing of an IPO and listing of the security from current six days to just three days, Sebi said. It will also do away with physical movement of application forms.

Food safety regulator FSSAI on Wednesday said there is still confusion among consumers about nutraceuticals because of misinformation, and called for adoption of self-regulation by industry players.

Food Safety and Standards Authority of India (FSSA) Chairman Ashish Bahuguna said the industry has bigger responsibility to ensure quality and safe products to consumers.

New Delhi: Power equipment maker BHEL on Wednesday posted about 93 per cent jump in standalone net profit to Rs 155.58 crore in the first quarter of current fiscal on higher revenues.

Its net profit was Rs 80.82 crore in the April-June quarter of last fiscal, 2017-18, the company said in BSE filing.

India’s ministries of finance and power are discussing a plan to sell government’s stake in hydro-power producer NHPC Ltd. to its state-run peer NTPC Ltd., the nation’s biggest electricity generator by capacity, according to people familiar with the matter.

The government’s 73.67 percent stake in NHPC is worth about 182 billion rupees ($2.6 billion) as per current prices, according to Bloomberg calculations.

Seeking intervention in the case filed by Japanese pharma major Daiichi Sankyo for execution of the HC’s January 31 order that upheld the enforceability of the Rs 3,500-crore arbitral award passed against the Singh brothers and others, the bank told Justice Jayant Nath that it has equal rights over the assets of Singh and its dues shall be recovered from sale of the listed shares.

Call drops deteriorated in May with the percentage inching up to 0.60% during the month compared with 0.52% in April 2018, latest Trai data show. This is against three consecutive months of good performance when the rate fell to 0.54% in February and remained flat at 0.52% during March and April, respectively.

Mahindra’s Truck and Bus Division (MTBD), the commercial vehicle arm of Mahindra Group, on Tuesday unveiled its new range of intermediate commercial vehicles (ICVs) called Furio, in a bid to increase its market presence in the commercial vehicles (CVs) segment.

Under the range, MTBD will be launching 21 products ranging from 6.5T to 16T, seven of which will be launched with BS-IV engine and the rest complying with BSVI norms.

Maruti Suzuki India (MSI) today said it is recalling 1,279 units of new Swift and Dzire models to inspect for a possible fault in the airbag controller units.

MSI in a statement said it will proactively and voluntarily undertake a recall for 1,279 vehicles (566 new Swift and 713 new Dzire) manufactured between May 7 to July 5, 2018.

Aiming to generate revenues from new segments, state-run telecom player BSNL is targeting Rs 650 crore from its partnerships with virtual network operators (VNOs).

BSNL has tied-up with VNOs Plintron and Aerovoyce to start the services. Besides, it has introduced the first robotic process automation in the organisation which will enable the firm to save Rs 300 crore annually.

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