The New Indian Express Business News

  • Business

    HCL Infosystems Q1 loss narrows to Rs 35.7 crore

    NEW DELHI: IT firm HCL Infosystems today reported a consolidated loss of Rs 35.7 crore for the April-June quarter. The company had posted a net loss of Rs 154.6 crore in the previous January-March quarter, HCL Infosystems said in a BSE filing. The company's net sales were at Rs 1,148.2 crore in April-June against Rs 1,069.1 crore in January-March. As required under Section 2 (41) of the...

    • 5 hrs ago
  • Business

    Force Motors Q1 net up 46% at Rs 51.46 cr

    NEW DELHI: Force Motors today reported a 46.11 per cent increase in net profit at Rs 51.46 crore for the first quarter ended Jue 30. The company had posted a net profit of Rs 35.22 crore in the same period last fiscal, Force Motors said in a BSE filing. Total income from operations stood at Rs 854.1 crore compared with Rs 717.74 crore in the year-ago quarter, up 18.99 per cent, it said.

    • 8 hrs ago
  • Business

    Time to scale up cyber security to meet emerging threats: Deputy Governor, RBI

    NEW DELHI: Banks need to put in place preventive measures such as appropriate controls framework around the systems, reconciliation of transactions in on real / near real time basis, controls over the message creation and transmission, applying timely security patches to the interfaces, if any, close monitoring of transactions and disabling USB, and Internet access on...

    • 12 hrs ago
  • Business

    UK and China regulators discuss framework for financial projects

    British and Chinese watchdogs are discussing an agreement that will pave the way for financial services between the countries. Britain has been pushing to deepen its financial services ties with China, which has agreed to cross-border financial services. HONG KONG: British and Chinese securities watchdogs are discussing an agreement that will pave the way for landmark...

    • 13 hrs ago
  • Business

    UP claims increase in state GDP

    LICKNOW: The Uttar Pradesh (UP) government has claimed a steady increase in the state's GDP and per capita income.UP Minister for Economics and Statistics Mehboob Ali has informed that owing to the various schemes run by the state government, there has been an increase in the per capita income.He said that the per capita income of the state was Rs 35,358 in 2012-13, which went up to Rs 44,197 in 2014-15 and...

    • 14 hrs ago
  • Business

    Honda to double Best Deal outlet count to 200 by end of 2018

    CHENNAI: Honda Motorcycle & Scooter India (HMSI) is planning to double the number of its Best Deal outlets to 200 by the end of 2018, trying to leverage the huge potential in this space. HMSI, whose scooter brand Activa last month became the largest selling two-wheeler in the country, opened the 100th Best Deal outlet in Mumbai on Friday and the outlets, part of the regular Honda...

    • 20 hrs ago
  • Business

    Only encouraging low performers to seek other opportunities: Flipkart

    BENGALURU/NEW DELHI: India's largest e-commerce firm Flipkart on Friday evening dismissed reports that it was downsizing or laying off staff. Instead, it said in reply to an email query that as in any industry, low performers were being "encouraged to seek opportunities outside". Reports on Friday morning states that Flipkart has asked about 300-600 employees...

    • 20 hrs ago
  • Business

    FDI rises 7 per cent to $10.55 billion in first quarter

    NEW DELHI: The foreign direct investment (FDI) into the country grew by 7 percent to $10.55 billion during the first quarter of the current fiscal, according to data from the Department of Industrial Policy and Promotion (DIPP). Foreign investment inflows were at USD 9.88 billion in January-March 2015, according to data of the Department of Industrial Policy and Promotion (DIPP). The...

    • 20 hrs ago
  • Business

    Capping drug prices saved consumers Rs 5k crore

    NEW DELHI: Following the government's initiative to revise and lower the prices of drugs to ensure access to affordable medicines to the patients, the consumers have saved around Rs 5,000 crore, said the government on Friday. The price revision is a part of the Drug price Control Order (DPCO) of 2013, which revised 404 formulation under India's National List of Essential Medicines (NLEM),...

    • 20 hrs ago
  • Business

    Rs 600 crore capex this year: Royal Enfield

    NEW DELHI: The motorcycle division of Eicher Motors, Royal Enfield, is planning to invest Rs 600 crore this financial year in a new manufacturing plant at Vallam Vadagal, Tamil Nadu, in expanding its Research and Development centres and in product development. Its capital expenditure last year was in the region of Rs 500 crore. Siddhartha Lal, MD, Eicher Motors, said that by the end of this year, total...

    • 20 hrs ago

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