Business

Asian shares ticked down as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran.

According to the lender, its net profit for the quarter under review decreased to Rs 1,020 crore from Rs 2,025 crore reported for the corresponding period of the previous fiscal.

A final close of the deal is expected within 10 days, although deal terms could still change and a deal isn't certain, Bloomberg reported.

The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.

While Tata Consultancy Services (TCS), Reliance Industries Ltd (RIL), ITC, HUL, HDFC, Infosys and Kotak Mahindra Bank saw rise in their market valuation for the week ended on Friday, HDFC Bank, Maruti Suzuki India and ONGC suffered losses.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

Airtel posted a consolidated net profit of Rs 82.9 crore (or 21 paisa per share) in January-March quarter of 2017-18 fiscal as compared to Rs 373.4 crore (or 93 paisa a share) in the same period of the previous fiscal.

Among the employees that opt out of reimbursements, 56 per cent of them do so for higher in-hand salary, thereby not using the full potential of the tax benefits offered to them, the Zeta employee benefits survey commissioned to Nielsen India said on Tues...

On Monday, the rupee had lost 36 paise to hit a fresh 13-month low of 66.48 against the US dollar as rising crude prices and sustained foreign fund outflows led to subdued forex market sentiment.

Kumar, additional secretary with the coal ministry, has taken over from Central Coalfields Ltd CMD Gopal Singh, who was appointed as interim chairman of the world's largest coal miner in September last year.

Forex dealers said, sustained demand for the American currency from importers and dollar strength against other currencies overseas, bolstered by rising US bond yields, weighed on the domestic unit.

"Our assumption that protectionism will rise, but that a trade war will be averted, means that global trade growth will continue to slow in 2019-22, to an average of 3.5 per cent a year," the EIU report said.

Petrol in the national capital now costs Rs 74.40 a litre, the highest since September 14, 2013, when rates had hit Rs 76.06. Diesel price at Rs 65.65 are the highest ever.

The Fugitive Economic Offenders Bill seeks to confiscate properties of economic offenders - like Nirav Modi- who have left the country to avoid facing criminal prosecution.

Operating ratio is an indicator of the financial health of Railways. It shows how much the Railways spends to earn a rupee. An operating ratio of 98.5% essentially means that the Railways spent 98.5 paisa to earn 100 paisa (Re 1) in the last financial yea...

Mounting government deficits and indebtedness leave countries vulnerable to shocks and hinder their ability to respond should their economies falter, the IMF said in a report.