Business news

Feeling the automation heat? ITC Infotech to acquire smaller firms to ramp up digital services game

ITC Infotech is planning to buy out smaller companies valued in the range of Rs 320 crore in a bid to ramp up its game in the digital technology market and innovate AI and Internet of Things.

Jul 24, 2017

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HDFC Bank Q1 net profit rises 20%, despite increasing bad loans

The bank's net profit rose 20.2 percent to Rs 3,894 crore in the first quarter of fiscal year 2018

Jul 24, 2017

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Axis Bank gears up for competition as Amazon makes a bid in the range of Rs 500 crore for Freecharge

It was earlier reported that Axis Bank was leading the race to acquire digital payments platform Freecharge and was even said to be conducting due diligence.

Jul 24, 2017

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NPA crisis: Cleaning up bad loan mess is the priority, says RBI

Last month, the RBI referred 12 NPA accounts, accounting for 25 percent of bad loans in the banking system, for resolution under the Insolvency and Bankruptcy Code (IBC).

Jul 23, 2017

Home base: Not briefing Tata trusts on every move I make, says Chandra

Tata group will prune portfolio and sell underperforming firms, says chairman, points out that group has priorities other than Nano.

Jul 23, 2017

Unfair in retrospect: Builders take govt to court, say RERA is illegal

Allege law is retrospective as it brings "ongoing" projects under regulation and penalties.

Jul 23, 2017

Megahurts: 6 telecoms dodged license fee, spectrum charge, fudged income by over Rs 61,000 crore

Shorted revenues at Rs 7,697.62 crore; Bharti Airtel, Vodafone, Aircel, Idea, Reliance Communication and Sistema Shyam Teleservices Ltd named in CAG report.

Jul 22, 2017

Vijaya Bank net profit defies bad loan drag, jumps over 57% to Rs 255 crore

On the 12 stressed accounts chosen by the Reserve Bank of India last month under the insolvency and bankruptcy law, Vijaya Bank's total exposure is Rs 12,800 crore

Jul 22, 2017

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No change in the air: Trai rules out floor price for telecom services as of now

Consensus among telcos is that fixation of a floor price is not a workable idea.

Jul 22, 2017

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Investment dept told to prepare proposal for Air India sale

Dipam (Department of Investment and Public Asset Management) told to coordinate with Civil Aviation ministry.

Jul 22, 2017

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Malaysian company IHH Healthcare Berhad may still buy stake in Fortis: Report

A proposed fund-raising plan by IHH Healthcare subsidiary keeps hopes of buying a stake in Fortis Healthcare "alive", says BloombergQuint.

Jul 22, 2017

Adityanath to meet TCS COO; will it bring good news to Lucknow employees?

UP Chief Minister Yogi Adityanath will reportedly meet TCS' COO NG Subramaniam after August 10 and will speak to him regarding the firm's decision to shut down Lucknow operations.

Jul 22, 2017

I-T detected Rs 19,000 crore black money in ICIJ, HSBC cases: Jaitley

Income tax department's discovery follows probe into global leaks, including HSBC account holders in Switzerland

Jul 21, 2017

Reliance invests in Balaji Telefilms, Israeli startup incubator JII

JII will invest in early-stage startups in the field of big data, analytics, artificial intelligence, fintech, storage, Internet of Things, and computer vision.

Jul 21, 2017