Business news

Hudco lists at 22% premium to issue price

The Hudco IPO was oversubscribed 79 times; the share listed at Rs 73.45 on the BSE.

May 19, 2017

State Bank of India Q4 results: Will SBI declare bonus shares, the first in its history?

State Bank of India (SBI) will be declaring its Q4 and FY2017 results on Friday; shareholders would hope for a bonus issue, the first in the bank's history.

May 18, 2017

Quess Corp beats TCS, Infosys, Wipro in hiring

Business services provider Quess Corp hired more than TCS, Infosys and Wipro did in 2016-17, apart from posting upbeat results.

May 18, 2017

Cisco Systems to lay off 1,100 employees as part of restructuring plan

Cisco Systems announced on Wednesday that it would lay off 1,100 employees. The company, based in San José, California, had announced 5,500 job cuts in August 2016.

May 18, 2017

JSW Steel Q4 net profit rises three-fold, revenues up 60%

For the fourth quarter (Q4) ended March 2017, JSW Steel's standalone net profit stood at Rs 1,003 crore and total income at Rs 16,952 crore.

May 17, 2017

Hindustan Unilever net profit, revenues rise modestly for March quarter

Standalone net profit and revenues grew 6 percent in Q4, Hindustan Unilever said in a statement to the BSE on Wednesday.

May 17, 2017

Over 90% startups in India fail in first five years: IBM

Startups in the country are facing funding roadblocks both at entry and exit stages.

May 17, 2017

Wipro launches blockchain-based solutions

The Bengaluru-based IT company says the solutions were defined, designed and co-developed with clients at Wipro's Blockchain Innovation Lab.

May 17, 2017

Mukesh Ambani tops Forbes list of Global Game Changers

Reliance Industries chairman Mukesh Ambani successfully forayed into mobile telecom with Reliance Jio last year and has many other achievements to his credit, says the Forbes List of Global Game Changers.

May 17, 2017

Paytm Payments Bank to commence operations from May 23

In a communication, One97 Communications says Paytm Payments Bank has received final licence from RBI.

May 17, 2017

Tata Steel leads Sensex rally, up 8% after upbeat Q4 results

Fourth quarter (Q4) profit before exceptional item rose sharply to Rs. 3,352 crore, revenues were up 30 percent on higher output and pricing for Tata Steel, triggering a rally in share price.

May 17, 2017

IBM India refutes reports of mass layoffs in the coming months; appraisal may affect a few

IBM India has about 1,50,000 employees in the country and it was earlier said that about 5,000 of them were likely to be shown the door in the next few months.

May 17, 2017

Terralogic, Matrium Technologies to jointly serve customers in Southeast Asia

The new entity is registered in Australia as Matrium Terralogic PTY Ltd. and will do business as Matrium Terralogic.

May 16, 2017

Brigade Hospitality Services' Nirupa Shankar hopes for 'achchhe din' this fiscal

Demonetisation hit real estate firms hard last year and this fiscal, the companies have to contend with RERA and GST; still the sector is optimistic, says Nirupa Shankar, director, Brigade Hospitality Services Ltd.

May 16, 2017

Ford likely to cut 10 percent of its global workforce in a bid to increase profits

Ford is likely to cut about 10 percent of its salaried workforce worldwide as the brand aims to boost its profits and stock.

May 16, 2017