Shares of Kotak Mahindra Bank today fell by nearly 5 per cent after the company reported 25.8 per cent decline in net profit for the first quarter.

The stock declined by 4.43 per cent to Rs 684.40 at BSE.

On the NSE, the scrip fell by 4.6 per cent to Rs 683.80.

Retirement fund body EPFO will kickstart the process of investing in the stock market on August 6 with an initial corpus of around Rs 5,000 crore to be invested through ETFs in the current fiscal.

“We are making our first investment in equity (market) on August 6 in Mumbai. The Labour Minister (Bandaru Dattatreya) will preside over the function,” EPFO’s Central Provident Fund Commissioner K K Jalan said while addressing an Assocham conference.

The Directorate General of Civil Aviation on Friday ordered the removal of Air India chief of air safety Captain AS Soman for not maintaining flight monitoring data, sources said.

Soman was appointed Air India's air safety chief in January this year.

The rupee declined by 12 paise to 64.10 against the US dollar in early trade today, extending weakness for the second day due to appreciation of the American currency overseas.

Besides, month-end demand for the American currency from importers weighed on the rupee but a higher opening in the domestic equity market capped the losses, forex dealers said.

ICICI Bank, India's biggest private sector lender by assets, reported a 12% rise in quarterly profit, beating estimates, and its bad loan ratio fell sequentially, sending its shares higher by more than 5%.

Net profit rose to Rs 2,976 crore ($465 million) for its fiscal first quarter to June 30, from Rs 2,655 crore reported a year earlier.

The Bombay High Court has asked Indian food safety authority and Nestle India to retest Maggi noodles, television channels reported on Friday.

Nestle has been at the centre of India's worst food scare in a decade, after a regulator in Uttar Pradesh in May found excess lead in a sample of its popular Maggi noodles.

Diversified group ITC has set a target of garnering a revenue of Rs 1 lakh crore by 2030 from its FMCG business, as it looks to increase presence in the segment, company's chairman Y C Deveshwar said today.

At present, revenue from FMCG business stands at around Rs 9,000 crore.

State-run telecom service provider Bharat Sanchar Nigam Ltd (BSNL) will invest Rs.6,000 crore over the next three years to set up some 40,000 Wi-Fi hotspots across the country, its chairman-cum-managing director Anupam Shrivastava has said.

"We are now thinking of rolling out wi-fi hotspot through capital expenditure model also. We are in the process of having our tender ready. We will be floating our tender and put our own equipment. We will be doing everything," Shrivastava told IANS in an interview.

German carmaker Mercedes-Benz today launched three ultra luxury vehicles -- S500 Coupe, S63 AMG Coupe and SUV G63 AMG 'Crazy Colour' edition -- priced between Rs 2 crore and Rs 2.60 crore (ex-showroom Delhi).

The company also introduced its exclusive 'designo' platform that allows customers to choose exclusive paints, high quality interiors, trims and features.

NTPC Ltd, the country's largest power generator, today reported a 3% decline in net profit for the first quarter ended June on the back of lower generation and Plant Load Factor (PLF), a measure of power plant efficiency and output.

The company reported a net profit of Rs 2,135 crore for the quarter as compared to Rs 2,201 crore for the same quarter last financial year (2014-15). Gross generation for the June quarter stood at 58.69 billion units (BUs), a 7% decline from 63.15 BUs in the year ago period, the company said in a statement.

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