Business news

Its official: Lenovo buys Motorola mobility

Lenovo Completes Acquisition Formalities of Motorola from Google

After the deal, Lenovo will handle the mobility device business part while Google will keep the patents portfolio.

Oct 31, 2014

Maruti Suzuki India Limited says car sales growth cooling

New Delhi, Oct 31 (ANI): India's biggest carmaker Maruti Suzuki India Limited said the growth in car sales will be slow in the second half of the year, dampening expectations of a rapid recovery in the country's automotive market. Maruti's Chairman RC Bhargava said sales momentum was now slowing, and growth over the 2014-2015 financial year would average out at about 10 percent. Indian car makers are launching new and upgraded models of their cars, betting on improved consumer sentiment and an economic recovery under Prime Minister Narendra Modi's new government. To fend off competition from rivals such as Honda Motor Co and Hyundai Motor Co, Maruti plans to launch new and upgraded models of its cars over the next 12 months, including in the premium segment where it has had little success in the past.

Oct 31, 2014

Sensex, Nifty Hit Record Highs

Good buying was observed in IT, capital goods and technology, media and entertainment (TECK) sectors; while selling pressure was seen in consumer durables sector.

Oct 31, 2014

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BSE closes points 248 up on Oct 30

New Delhi, Oct 30 (ANI): Trading at the Bombay Stock Exchange today closed 248 points up to stand at 27,346.33. At the National Stock Exchange the Nifty closed 78.75 points up to stand at 8,169.20. SRF and KAILASH were among the top gainers of Group A with an increase of 11.27% and 9.00% along with UNITECH and CENTURYTEX with an increase of 8.43% and 7.01% respectively, while the top losers of Group A include PIPAVAV DEFENCE AND OFFSHORE ENG LTD. and RAYMOND with a decrease of 4.93% and 4.83% along with IOB and CONCOR with a decrease of 4.03% and 3.45% at the close of the markets. The Auto sector is up 51.94 points at 18,314.87 while the banking sector is up 136.55 points at 19,167.15 and the reality sector is up 50.87 points at 1,530.56. The Indian currency is down 0.12% at Rs 61.43 per dollar.

Oct 30, 2014

A road sign stands next to the Bombay Stock Exchange building (Reuters)

Sensex Hits Record High of 27,358 Points; Oil and Gas, Tech Surge

The Sensex touched a high of 27,358.85 points and a low of 27,088.65 points in the trade so far.

Oct 30, 2014

Xiaomi Topples Huawei from Third Place in Global Smartphone War; Gets Closer to Samsung, Apple

Xiaomi has been the top seller in its home market of China and recently entered India, where it sells phones exclusively through e-commerce site Flipkart. Now, Xiaomi has toppled Huawei from third position and has further lessened the market share gap between the table toppers Samsung and Apple.

Oct 30, 2014

Andhra Bank's Net Profit Rises by 35%

The net profit was ₹144 crore, a jump of 35% quarter-on-quarter.

Oct 30, 2014

Fed Ends Bond Buying, Shows Confidence in US Recovery

The Federal Reserve on Wednesday ended its monthly bond purchase program.

Oct 30, 2014

ICICI Bank Q2 Net Profit Up 15% to ₹2,709 Crore; Beats Estimates

Net profit rose 15% to ₹27.09 billion ($440.88 million) for its fiscal second quarter ended Sept. 30.

Oct 30, 2014

People walk past the Bombay Stock Exchange (BSE) building in Mumbai (Reuters)

Sensex Hits Five-week High on Fed Optimism

Realty shares rose after the government relaxed rules for foreign investment in construction.

Oct 30, 2014

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BSE closes points 217.35 up on Oct 29

New Delhi, Oct 29 (ANI): Trading at the Bombay Stock Exchange today closed 217.35 points up to stand at 27,098.17. At the National Stock Exchange the Nifty closed 61.15 points up to stand at 8,088.75. SRF and NCC were among the top gainers of Group A with an increase of 20.00% and 7.66% along with BF UTILITIES LTD and MAX with an increase of 7.40% and 7.31% respectively, while the top losers of Group A include JUBILANT and PIIND with a decrease of 11.31% and 6.07% along with CEATLTD and ORIENTBANK with a decrease of 4.40% and 4.25% at the close of the markets. The Auto sector is up 316.86 points at 18,259.29 while the banking sector is down 42.95 points at 19,030.60 and the reality sector is up 42.82 points at 1,479.82. The Indian currency is up 0.2% at Rs 61.31 per dollar.

Oct 29, 2014

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Apple business booms after floods in Kashmir

Poonch, Oct 29 (ANI): The recent floods in Kashmir proved to be a boon for the apple business as the state witnesses a record sale of apples this season. The worst flooding in over a century had hampered the trade of Kashmiri apple, which is popular worldwide for its taste and juice. But now with ample production of good quality apples, there is a boom in the sale of the fruit. An apple trader, Mohammad Amin, said that in comparison to previous years, the sale of apples this year has increased.

Oct 29, 2014