Private lender YES Bank posted its first quarterly loss, of Rs 1,507 crore, during the January-March 2019 period on account of a fall in non-interest income and a sharp increase in provisioning for bad loans, mainly due to defaults by the Infrastructure Leasing & Financial Services (IL&FS) group and Jet Airways. It had reported a net profit of Rs 1,179 crore in the fourth quarter of FY18.

Mumbai: Based on the recommendations of the Kotak panel, the Securities and Exchange Board of India had decided to restrict royalty payments to 2%. Royalty payment is the fee paid by Indian subsidiaries to overseas parent companies for the usage of the brand.

Equity benchmark BSE Sensex jumped over 150 points in early trade Friday led by banking stocks amid unabated foreign fund inflow.

The 30-share index was trading 152.41 points or 0.39 per cent higher at 38,883.27, and the NSE Nifty rose 50.90 points or 0.44 per cent to 11,692.70.

Axis Bank on Thursday swung to a profit of Rs 1,505.06 crore for the three months to March 2019 against a loss of Rs 2,188.74 crore in the corresponding quarter a year ago. The bottomline was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The private lender witnessed a 20.63% y-o-y rise in net interest income (NII) to Rs 5,706 crore. Provisions fell 62.23% y-o-y to Rs 2,711.43 crore.

Maruti Suzuki has decided to bring the curtains down on diesel vehicles from its stables beginning next fiscal. The company, which is the country’s largest passenger vehicle manufacturer, will thus be the first company to go completely non-diesel with the Bharat Stage VI (BS VI) emission norms kicking in from April 1, 2020.

All models with diesel engines less than 1.5 litres will be phased out, Maruti Suzuki chairman RC Bhargava said on Thursday. “In small cars, the cost of upgrading diesel engines to BS VI standards will be substantial.

From debuting in 1991 as an action hero to interviewing Prime Minister Narendra Modi on all things ‘apolitical’ right in the middle of the general elections, Bollywood actor Akshay Kumar has certainly come a long way. Consider how the actor, who ranked 76th in the global Forbes Top Earning 100 Celebrities 2018 list, also secured the third spot in the Duff & Phelps Celebrity Valuation Report 2018, with a total brand valuation of $67.3 million, behind only Virat Kohli and Deepika Padukone. This was one rank up from 2017 for Kumar, when he featured at number four.

The Centre’s push to convert all Coal India Ltd (CIL) mines as profit-making mines has resulted in the closure of underground mines across subsidiaries since underground operations are not cost-effective.

The Centre’s push to convert all Coal India Ltd (CIL) mines as profit-making mines has resulted in the closure of underground mines across subsidiaries since underground operations are not cost-effective.

FMCG major Nestle India said Thursday its shareholders have cleared a proposal for the continuation of royalty payments to its Swiss parent firm Societe des Produits Nestle SA. Shareholders also approved the proposal to seek their mandatory approval every five years for the fixation of royalty payment.

All resolutions, including the “one for continuity of royalty payments” were approved with an overwhelming majority at the 60th Annual General Meeting (AGM) in New Delhi, a company statement said.

Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that may curb near-term profits and will up the ante for retail rivals such as Walmart Inc.

Shares rose as much as 2 per cent in after-hours trade on Thursday as Amazon said faster shipping will come to customers around the world and said its profit more than doubled in the first quarter, trouncing estimates thanks to soaring demand for its cloud and ad services.

US President Donald Trump’s move to pressure Iranian oil importers is turning into a headache for India’s government in the midst of a re-election battle.

Indian Prime Minister Narendra Modi, whose government is one of the world’s biggest importers of Iranian crude, is now facing opposition attacks over his inability to win concessions from Washington. Criticism that his diplomacy has failed to guarantee continued access to cheaper Iranian oil comes in the middle of India’s weeks-long general election, which began on April 11.

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