Business news

Samsung Galaxy Note 7 mass recall after reports of device exploding while charging

Samsungs mass recall of the Galaxy Note 7 smartphones worldwide over faulty batteries may cut the Korean companys 2016 second-half operating profit by about 820bn won ($738m, Â£554m) as per an analyst report. Another report says the total cost borne the company could well amount to $1bn. The company announced a global recall of the recently launched Note 7 smartphone last week after receiving close to 35 official complaints of malfunctioning most of which were related to batteries that caught fire while being charged.

Sep 8, 2016

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IRB InvIT Fund files documents with regulator for IPO; IRB Infra shares rise 6%

IRB Infrastructure-backed IRB InvIT Fund will be the first real investment trust (ReIT) to come out with an IPO.

Sep 8, 2016

Tata Consultancy Services

TCS shares dip 5.66% after company issues bleak Q2 outlook

The firm's banking and financial sector clients in the United States are being cautious on discretionary spending.

Sep 8, 2016

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Supreme Court comes down heavily on industrialists making false promises

Clients facing trial promise to return after travel but never do so, the court observed while hearing Ravikant Ruia's plea. Ruia is facing trial in 2G scam.

Sep 7, 2016

Khat Sabha fiasco: Rahul Gandhi takes a swipe at BJP, compares cot-stealing villagers to Vijay Mallya

He said Vijay Mallya has not paid Rs. 9,000 crore, but is still called a "defaulter," while villagers who stole cots were called "thieves."

Sep 7, 2016

Spicejet

SpiceJet shares skyrocket 20% on sharp rise in Q1 net profit

The airline's net profit doubled to Rs. 142.9 crore for the June quarter on lower fuel and finance costs.

Sep 7, 2016

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Gold prices near 3-year high on heavy buying by jewellers

The buoyancy in sentiments led to the rise in gold prices, aided by lower chances of an interest rate hike by the U.S. Federal Reserve.

Sep 7, 2016

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ING Bank extends $25 million debt to Hong Kong-based fintech company WeLab

Amsterdam-based ING Bank had participated in a $160 million funding for WeLab in January this year, led by Khazanah Nasional Berhad.

Sep 7, 2016

Insurance Bill

ICICI Prudential Life IPO: Company gets Sebi approval for public offer

The issue size of the venture, in which ICICI Bank holds about 68% and Prudential Plc's stake is about 26%, is likely to be around Rs. 5,000 crore.

Sep 7, 2016

IB Times

SBI, Maruti Suzuki, Tata Motors hit new 52-week high as Sensex, Nifty extend rally

The BSE Sensex was trading above 29,000 points led by a rallying in blue-chips such as SBI, Maruti Suzuki and Tata Motors.

Sep 7, 2016

Wipro

Wipro wins three-year contract from Norway's railway company NSB

The three-year contract entails implementation of Wipro's BoundaryLess Data Center (BLDC) and LiVE Workspace solutions.

Sep 7, 2016

Oil pump jack in Russia

Oil edges up, gains limited amid scepticism over freeze deal

Oil prices hit a one-week high on Monday after Russia and Saudi Arabia agreed to cooperate on stabilising the oil market.

Sep 7, 2016

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Equitas Small Finance Bank starts operations with 3 branches

Equitas Small Finance Bank is a subsidiary of Equitas Holdings Ltd.

Sep 6, 2016

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Sensex gains sharply; close to all-time high

The 30-scrip BSE Sensex hit a new 52-week high on Tuesday and was just about 1,000 points away from its all-time high.

Sep 6, 2016

Vistara

Vistara offers discounted fares at Rs 949

The limited period offer bookings can be made between September 6 and 10.

Sep 6, 2016

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