Sachin Tendulkar backed celebrity fashion and memorabilia company, Universal Sportsbiz Pvt. Ltd. (USPL) has raised Rs 8 crore from Temasek Venture’s lending platform InnoVen Capital India. The raised funding will be used to accelerate growth plan and in brand building via multimedia campaigns.

“We will be focused on unlocking the true potential of celebrity lines business by building enhanced awareness and providing access and availability,” said USPL Founder Anjana Reddy. Founded in April 2012, USPL started with its brand Collectabillia, which sold sports memorabilia and fashion accessories, including Tendulkar’s autographed bats and Lionel Messi’s laptop covers.

Gold prices stabilised on Tuesday holding just above a five-year low, but investors still see further price falls a day after the metal tumbled 4 per cent.

Reflecting losing interest in gold, holdings in top gold fund SPDR Gold Trust fell to the lowest since 2008.

BSE Sensex plunged over 270 points down after the Parliament’s first monsoon session failed to impress traders.

Indian equity benchmarks continue to trade choppy with Sensex and Nifty swinging between negative and positive territory.

HDFC Bank, the country's second largest private sector lender, today reported a 21% rise in net profit to Rs 2,695.7 crore on the back of an increase in net interest income and robust other income.

Net interest income, the difference between interest earned and interest expended, increased by 23.5% to Rs 6,389 crore in the quarter ended June as compared to Rs 5,171.6 crore in the same period a year ago.

Aiming for a dominant position in the mass-market sports utility vehicle (SUV) segment in India, Korean auto major Hyundai today launched Creta with price starting at Rs 8.59 lakh (ex-showroom New Delhi).

Creta is being launched globally for the first time in India. The roll-out of the five-seater SUV in the country would be followed by launches in other international markets.

Revenues from top 10 clients have grown by 5.9 per cent sequentially compared to the decline in the previous quarter. Infy's revenue from its top client has grown by 10.5 per cent sequentially.Revenue growth rates across verticals are fast catching up with some of its peers, which could lead to a re-rating of the stock even if earnings upgrades do not happen for FY16.

Commercial vehicles maker, Ashok Leyland Limited (ALL), is embarking on a "platform strategy" to regain the market share that it lost in the domestic light commercial vehicle (LCV) segment, according to its president (LCV, defence) Nitin Seth.

"Our target is to go back to the 18% market share, which we used to hold earlier. Towards this, we are looking at bringing in more variants based on our existing three platforms -- DOST (LCV), Partner (mini-truck) and MiTR (mini-bus)," he told Business Standard.

YES Bank has filed an appeal against the Bombay High Court judgment in the YES Bank and Madhu Kapur case. The court order was made public on June 17 but had been stayed for operations for a period of five weeks which ends on Tuesday.

However, with the new appeal, the order had been stayed for operations till August 4, which is the next date for hearing. According to the judgment, the court had termed “invalid” the appointment of two directors on YES Bank's board and declared that the proposed appointments of three others — Rajat Monga, Sanjay Palve and Pralay Mondal — were void.

Maruti Suzuki will launch its premium dealership Nexa on Thursday. Meant for buyers of premium cars, these dealers will only stock the company’s upcoming crossover, the S-Cross, to begin with.

This is the Indian automobile industry’s first experiment with creating a new sales network. The decision to set up Nexa follows the Indian buyers’ preference for more space and better features in cars.

NEW DELHI: Shares of NIIT Ltd extended gains for the second straight session and hit their fresh 52-week high of Rs 67.30 in intraday trade on Monday. Including Monday's gains, the stock has rallied over 28 per cent since Friday. The scrip has gained about 14 per cent in intraday trade today on the BSE.

This was in addition to 11.23 per cent surge, the scrip witnessed on the exchange in the preceding session, thanks to a 25-fold jump in the Q1 net profit, the company reported during the trading session.

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