Private sector lender Kotak Mahindra Bank has posted a 30.3% increase in net profit to Rs 938.31 crore for the third quarter ended December 31.

The bank had recorded a consolidated net profit of Rs 719.57 crore in the October-December quarter last fiscal, Kotak Mahindra Bank said in a statement today.

NEW DELHI: Buy when there's blood in the street. For ONGC Videsh, this advice from 18th century British nobleman Baron Rothschild - of the Rothschild banking family - still holds true.

At a time when depressed oil and commodities prices have left companies gasping, the overseas acquisition arm of state-run ONGC has made a killing by replacing a $1.7-billion loan with cheaper credit and longer payback time.

Melbourne, Jan 18 (Reuters): World tennis was rocked on Monday by allegations that the game's authorities have failed to deal with widespread match-fixing, just as the Australian Open, the first Grand Slam tournament of the year, kicked off in Melbourne.

Tennis authorities rejected reports by the BBC and online BuzzFeed News, which said 16 players ranked in the top 50 had been repeatedly flagged to the Tennis Integrity Unit (TIU) over suspicions they had thrown matches in the past decade.

New Delhi: Increased output by Coal India Ltd (CIL) has resulted in savings of about Rs.17,000 crore and the state-run miner is set for a record production of 550 million tonnes (MT) this fiscal, coal secretary Anil Swarup said.

Coal India is the single largest producer of dry fuel in the world and the government has set a target of doubling its production to 1 billion tonnes by 2020.

Mumbai: Mukesh Ambani-controlled telecom unit Reliance Jio Infocomm Ltd (R-Jio) and Anil Ambani-led Reliance Communications Ltd (R-Com) on Monday signed so-called Agreements for Change for spectrum allotment in the 800 MHz band across nine circles from R-Com to R-Jio, and for spectrum sharing in the 800 MHz band across 17 circles.

As part of the enhanced strategic collaboration, both companies also intend to enter into reciprocal Intra Circle Roaming (ICR) arrangements, the companies said in a joint statement.

Mumbai: State Bank of India will be more cautious in converting loans into a majority equity holding under the strategic debt restructuring (SDR) scheme after a surge in such cases raised questions over the ability of banks to sell these stressed assets within the 18 months given to them.

The top management of India’s biggest lender has asked its officials to invoke SDR only in cases where there is clarity on a potential buyer, two people with direct knowledge of the development confirmed.

The Reliance Industries-operated KG-D6 gas block, once regarded as capable of transforming India’s energy sector, could cease to produce by 2020, sources privy to the situation say. The existing fields in the block are drying up faster than assumed earlier and the explorer may not spend on development of newer areas in the absence of ‘remunerative’ gas prices, they told FE.

Production from the block — officially called KG-DWN-98/3 — peaked in the last quarter of FY10, when it touched 60 million metric standard cubic metre per day (mmscmd), and has since plummeted to the current level of 9.5 mmscmd.

The TVS Apache RTR 200’s specifications and official images have been leaked ahead of its launch on January 20, 2016. The details of the new Apache 200 have been leaked in Indonesia, where as well the product will be launched the same day.

The TVS Apache RTR 200 will be powered by a 197.75cc, air-cooled, single-cylinder with with 4 valves. This engine, mated to a 5-speed gearbox, develops 20.23bhp at 8,500rpm and 18.1Nm at 7,000rpm. Weighing 148kg, the vehicle can achieve the 60kmph mark from standstill in 3.9 seconds at a top speed of 130kmph.

IT services major, Wipro, reported a 2% rise in profits to Rs 2,243 crore for the third quarter, while revenue grew 7.23% to Rs 12,860 crore.

Wipro, the third largest IT services firm, showed IT services revenue grew sequentially or over the previous quarter by 0.3% to $1.84 billion, meeting its forecast and analyst expectations. Operating margins, calculated as sales minus costs, stood at 20.2%, which was impacted marginally due to spending on backup plans during the Chennai floods.

In a notable change of stance, Air India has decided not to oppose the scrapping of the ‘5/20 rule’, making it easier for the government to abolish the law.

In a recent meeting with the civil aviation ministry, Air India chairman and managing director Ashwani Lohani said the airline would not oppose the proposed scrapping the rule.

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