YES Bank has moved higher by 2.5% to Rs 1,324 on the National Stock Exchange (NSE) after the bank reported a better-than-expected 31% year on year (YoY) growth in net profit at Rs 802 crore for the quarter ended September 30, 2016 (Q2FY17). The private sector lender had profit of Rs 610 crore in year ago quarter.

“Net Interest Income grew 30.5% YoY to Rs 1,446 crore on back of robust growth in advances & CASA. Net interest margin (NIM) expanded to 3.4% in Q2FY17 from 3.3% a year ago,” YES Bank said in a statement.

Days after the State Bank of India (SBI) blocked 6,00,000 debit cards over reports of security breach, clouds of suspicion hover above the heads of customers who fear falling prey to financial fraud.

"Card network companies like the NPCI, Mastercard and Visa had informed various banks in India about a potential risk to some cards owing to a data breach. Accordingly, State Bank of India (SBI) has taken precautionary measures and blocked cards of certain customers identified by the networks,"said a company statement on Thursday.

The petroleum ministry’s technical arm Directorate General of Hydrocarbons (DGH) is likely to take into consideration capital and operational expenditure incurred by Reliance Industries (RIL) while computing the penalty being imposed on the firm in regard to its commercial production of gas migrated from state-run ONGC’s 98/2 area to RIL’s KG-D6 block.

Public sector bank State Bank of India (SBI) has stated that it will re-issue approximately six lakh debit cards to customers after cards were blocked due to a malware-related security breach in a non-SBI ATM network, reported Times of India.

Customers who have used their cards only at SBI ATMs have not been affected. SBI's chief technology officer (CTO), Kumar Bhasin, told TOI, "A few ATMs have been affected by a malware.

In a major breakthrough in speech recognition, researchers at Microsoft claim to have developed the first technology that recognises the words in a conversation as well as humans do.

A team of researchers and engineers in Microsoft Artificial Intelligence and Research created a speech recognition system that makes the same or fewer errors than professional transcriptionists.

Wipro, India's third largest software exporter is expected to see subdued growth and see pressure on margins in the second quarter.

Wipro, which is expected to post results on Friday, has 0-1 per cent sequential growth in revenue; while pointing to factors like uncertainties in the BFSI vertical, continued weakness in energy vertical may arrest its revenue growth towards the lower end of the range.

MUMBAI: Market came under a spell of volatility on Wednesday as the Sensex slipped into the negative zone from a positive start after profit-booking resurfaced at FMCG, auto and realty counters despite higher Asian cues.

Investors went in for profit-booking after Tuesday's biggest single-day rebound in close to five months. But oil and gas, healthcare, energy, utilities, consumer durables, power and IT sectors saw continued buying interest.

Mumbai/New Delhi: Infrastructure conglomerate GMR Group has initiated discussions with SembCorp Industries Ltd of Singapore and US-based Lone Star Funds for selling a significant stake in GMR Chhattisgarh Energy Ltd (GCEL), a 100% subsidiary of GMR Energy Ltd (GEL), three people familiar with the matter said. The move is part of the group’s efforts to bring down its debt that stood at Rs43,400 crore at the end of September.

Thanks to its efforts at improving efficiency in exploration, government-owned ONGC has broken the declining trend in its oil and gas output from onshore assets that prevailed for the past four years.

The production from onshore assets rose nearly 3% to 1.498 million tonnes in the second quarter of FY17 from 1.454 million tonnes in the first quarter of the fiscal.

With a bumper Navratri behind them, carmakers are gearing up for a big Diwali. Dealers for the country’s top two players — Maruti and Hyundai — told FE retail sales have risen 15-16% during the nine-day-long festival driven by fairly chunky discounts. Channel checks by Bank of America Merrill Lynch reveal retail sales are 10-15% higher for most passenger vehicle makers.

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