Calcutta, Nov. 29: The State Bank of Hyderabad expects to maintain its profitability in the second half of the fiscal with bad loans remaining under control.

The bank's September-quarter net profit grew 21 per cent to Rs 375.31 crore over the year-ago period. Gross non-performing assets (NPAs) stood at 4.92 per cent, lower than the year-ago period.

New Delhi: The Supreme Court on Monday dismissed a plea seeking a probe by the Central Bureau of Investigation (CBI) into the allegations regarding Congress vice-president Rahul Gandhi’s citizenship.

Earlier this month, Bharatiya Janata Party (BJP) leader Subramanian Swamy had alleged that Gandhi had declared himself a British citizen for floating a private company in London from 2003 to 2009.

This year’s India International Trade Fair 2015, Delhi, (IITF) has something new besides handicraft, food, gadgets and machines. Vying with the other stalls is one from the market regulator, Securities and Exchange Board of India (Sebi), whose pavilion is named ‘Bharat Kaa Share Bazaar’. Next to Sebi’s pavilion is one by the Reserve Bank of India (RBI). The main purpose is to engage public to increase financial literacy and investor awareness.

Paris: French president Francois Hollande and India’s Prime Minister Narendra Modi will on Monday launch an international solar alliance aimed at eventually bringing clean and affordable solar energy within the reach of all.

The launch will coincide with a summit of world leaders at the start of two weeks of talks on the outskirts of Paris to seek a new global deal on curbing climate change, by shifting from fossil fuels towards renewable energy.

New Delhi: Nasscom Foundation, a non-profit organisation that’s part of software services industry lobby group Nasscom, on Tuesday said it had partnered with SAP India to establish 25 national digital literacy mission (NDLM) centres in 12 cities across India.

Nasscom Foundation is the government’s industry partner for NDLM, which aims to make more than five million individuals digitally literate in India over the next four years. Part of the Digital India initiative, it envisages making one person in every family digitally literate, imparting IT training to 5.25 million Indians.

IDEA has signed an agreement to purchase Videocon’s 1800MHz spectrum in Gujarat and Uttar Pradesh-West circles. These are 2x5MHz blocks each, and are conditional on approvals.

The purchase price is R33 bn, or ~$500m, which seems expensive. Videocon acquired this spectrum back in 2012 for roughly R13 bn. But more relevant is the recent March-2015 auction, and these prices are almost double the final auction price then.

NEW DELHI: In an unprecedented move to protect its pilots from being poached by other airlines, Air India is planning to make its new entrants sign a bond of up to Rs 1 crore.

Pilots joining the airline will have to pay this amount if they quit before a certain period during which AI has not recovered the cost of training incurred on them.

BENGALURU: Infosys plans to add at least two members to its board in the next six months even as it intends to stick to its strategy of having a lean board with not more than two executive directors to ensure faster decision-making, two executives familiar with the matter said. The company, India's second largest software exporter, has an eight-member board at present.

It is keen to fill the vacancies created by the exit of former ICICI Bank chairman KV Kamath earlier this year and departure of Carol M Browner, a former director of the White House Office of Energy and Climate Change Policy, last week. Infosys is looking for candidates with experience in areas such as financial services, government regulations and technology, the executives said.

Shares of automobile companies are in focus with the Bombay Stock Exchange (BSE) S&P BSE Auto index hitting a three-month high ahead of Ashok Leyland, Maruti Suzuki India and Tata Motors inclusion in the MSCI India index. The changes will be implemented as of the close of November 30, 2015.

Tata Motors, Maruti Suzuki India, Ashok Leyland and Bajaj Auto were up 2% each, while Mahindra & Mahindra up 1% on the BSE in late morning deals.

The Nifty closed 2nd consecutive week in positive territory. It was traded in very thin range during week. But it’s slowly inching upwards as anticipated last week. It made high of 7,959.30 levels. All the other indices such as midcap, small cap, bankex, etc, closed weekly in positive territory. Broader market is out performing at current levels of market. Its good sign for bulls for short term till it shows sign of reversal.

Short term out look for the market remains positive till Nifty trades above 7,823 levels & expecting targets in the range of 8,000-8,116 levels in short term. Medium term outlook for the market still remains negative till Nifty trades below 8,655 levels.

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