Private sector lender Axis Bank reported 18.4 per cent rise in its net profit to Rs. 1,899.76 crore for the third quarter ended December FY15.

The third largest private sector bank’s net profit in the corresponding October-December quarter of FY14 stood at Rs. 1,604.11 crore.

Chinese tech giant Lenovo today unveiled the country’s most affordable 4G LTE smartphone, priced at Rs 6,999 as it looks to cash in on the booming demand for high-speed data services.

Lenovo’s A6000 was unveiled at the CES in Las Vegas last week. The device has been aggressively priced to compete with Xiaomi’s Redmi Note 4G (Rs 9,999) and Yu’s maiden device — Yureka (Rs 8,999).

The challenge facing the Bharatiya Janata Party (BJP) in Delhi – bigger than winning the hearts of the city’s sizeable Dalit population or negating Arvind Kejriwal’s ‘disclosure a day’ against its leaders – is to get its middle class support base to the polling booths on the day of voting on February 7.

The Securities and Exchange Board of India (Sebi) on Thursday notified the Prohibition of Insider Trading (PIT) Regulations, 2015to replace a two-decade framework.

In addition to broadening the definitions of unpublished price-sensitive information (USPI), insider and connected persons, the legal perspective suggests graver consequences for company officials involved in selective exchange of information.

State-owned Bharat Heavy Electricals Limited (BHEL) has bagged a contract from the Karnataka Power Corporation Limited (KPCL) for setting up a Combined Cycle Power Plant (CCPP), valued at Rs 1,202 crore on engineering, procurement and construction (EPC) basis. The contract involves supply and commissioning of a fuel-efficient Advanced-class Gas Turbine.

Private sector lender YES Bank plans to seek approval from regulators for entering into the asset management and primary dealership business.

“With a view to complete the overall bouquet of financial products to its customer franchise, the bank plans to set up an asset management company (AMC), primarily to channelise the savings of retail investors in equity and debt capital markets.

Bajaj Auto, the country’s third biggest two-wheeler maker, reported a five per cent decline in net profit for the December quarter, hit by falling demand for its motorcycle range in the domestic market.

The Pune-based company posted net profit of Rs 861 crore, against Rs 905 crore in the same quarter a year before. The profit, however, beat the market estimate of Bloomberg, which expected it to be Rs 836 crore.

The earnings of Tata Consultancy Services (TCS) for the quarter ended December last year met industry estimates but failed to impress analysts, unlike the earnings of its peer, Infosys.

TCS’ net profit and revenue narrowly missed the Bloomberg consensus estimates of Rs 5,493 crore and Rs 24,534 crore, respectively. The company paid 100 per cent variable pay, which might have hit its profit for the quarter.

New Delhi: After choosing not to take the lifeline in 2013, GMR Infrastructure Ltd has now written the roads ministry asking for its payments in a key roads project to be rescheduled if it is to restart work on it, two of the ministry’s officials said on condition of anonymity.

The move comes 10 months after the government approved a policy to allow road developers strapped for finances to reschedule their financial commitments including the up-front so-called premium they pay the National Highways Authority of India (NHAI) for the rights to build highways and collect toll.

India will press the US for not extending the provisions of the country’s Border Security Act – which almost doubled the H1B and L1 visa fees – beyond 2015, when Prime Minister Narendra Modi meets US President Barack Obama later this month.

A senior official told The Indian Express that the visa concerns and long-pending totalisation agreement are the two major issues India wants to resolve during the visit of the US President in Delhi to attend the Republic Day ceremony on January 26.

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