HDFC Bank will not be able to raise much money by way of foreign investment even as the Foreign Investment Promotion Board (FIPB) on Friday regularised its current overseas investment structure. That is because the board turned down the bank’s plea to not treat the promoter stake as foreign investment. Besides, the bank will also have to deposit a penalty as it was in the breach of FDI guidelines.

The FIPB is of the view that HDFC Bank’ parent HDFC Ltd’s 22.50 per cent holding in the bank is foreign investment and, hence, the total foreign holding in the bank stands at 73.20 per cent, which includes FII, FDI, ADR and GDR, according to an official.

Tata Motors reported a 7% dip in consolidated net profit at Rs 3,291 crore for the quarter ended Septmeber 2014. It was Rs 3,542 crore in the smae period a year ago.

However, the consolidated total income rose 6% to Rs 60,783 crore as against Rs 57,100 crore in September 2013.

Realty major DLF has deposited Rs 50 crore with the Supreme Court and will pay the balance by November 25 to comply with its direction to deposit Rs 630 crore fine slapped by fair trade regulator CCI.

In August, the Supreme Court had said that the total amount should be deposited within 3 months with its Registry, pending the outcome of the appeal filed by the DLF against the May 19 order of Competition Appellate Tribunal's upholding the penalty imposed by CCI.

SCountry's largest lender State Bank of India's net profits for the second quarter ended September 2014 expanded by 30.5% at Rs 3,100 crore on robust growth in robust income comprising fees, commissions, and good interest income.

It had posted a net profit of Rs 2,375 crore in July-September 2013.

BHEL's Q2 net profit fell 72.5% to Rs 125 crore from Rs 456 crore in the year-ago quarter.

Net sales came in at Rs 6,027 crore compared to Rs 8,819 crore in the quarter ended September 30, 2014.

The government on Thursday raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year. The move may not result in an immediate hike in prices of petroleum products as oil marketing companies (OMCs) are likely to offset it by not announcing the reduction in rates expected this weekend.

The excise duty on normal or unbranded petrol was hiked from Rs 1.20 per litre to Rs 2.70 per litre and on unbranded diesel from Rs 1.46 a litre to Rs 2.96, a government notification said. The duty on branded petrol was raised from Rs 2.35 a litre to Rs 3.85 and on branded diesel from Rs 3.75 to Rs 5.25 per litre.

Saradha scam accused and former Trinamool MP Kunal Ghosh on Friday allegedly attempted suicide in Alipore Central Jail.

West Bengal Correctional Home Services Minister HA Swafi said, Kunal Ghosh allegedly tried to commit suicide by taking sleeping pills inside the jail.

Benchmark indices are likely to open on a volatile note amid the decline in select Asian markets which came under pressure on weak macro-data from China. Meanwhile, further decline in crude prices below the level of $80 a barrel will keep oil and gas shares in focus.

Earlier, the government on Thursday raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year.

The country's largest real estate player, DLF, has posted a nine per cent jump in its consolidated net profit at Rs 109 crore for the quarter ended September on the back of higher sales.

It had reported a net profit of Rs 100 crore in the same quarter the previous year.

The Securities and Exchange Board of India (Sebi) may soon require persons acting in concert to disclose their Permanent Account Numbers. The move is part of new transparency standards to be included in the listing regulations.

Sources in the know also indicate that board will also discuss regulations for uniform disclosure of share holding pattern and annual results to prevent selective leakage of price sensitive information.

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