New Delhi: State Bank of India (SBI) on Wednesday said it is planning to dilute stake in its card business through the initial public offer (IPO) route.

The country's largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited.

Coal India has posted a net profit of Rs 4,629.87 crore for the June quarter, a growth of 22.27 per cent, on the back of better realisation even as production and offtake volumes remained almost constant on an annual basis.

Revenue from operations during the quarter was Rs 24,938.99 crore compared with Rs 24,070.80 crore, a growth of 3.6 per cent.

The turmoil in Argentina and Hong Kong is prompting local investors to pay a premium for Bitcoin, with the leading cryptocurrency proving to be less of a refuge for everyone else than advertised. In Argentina, where the peso plunged on election uncertainty, Bitcoin was recently trading for as much as $12,000 on LocalBitcoins.com, a peer-to-peer platform, or 10% higher than on many international crypto exchanges.

Apollo Hospitals Enterprise (AHEL) has reported a 32% growth in its net profit for the quarter ended June 30, 2019 to Rs 79.30 crore as compared to Rs 60.20 crore in the same quarter last fiscal. Revenue grew 17% to Rs 2,229.20 crore as compared to Rs 1,910.40 crore in the same quarter last fiscal.

As on June 30, 2019, Apollo Hospitals had 7,348 operating beds across the network (excluding AHLL & managed beds), out of which 13 were new hospitals with 1,870 operating beds.

Amazon is in late-stage talks to acquire as much as 10% of Kishore Biyani’s Future Retail, people familiar with the negotiations said, as the US company moves to bolster its brick-and-mortar presence in one of the world’s fastest-growing retail markets.

India’s No. 2 retailer by turnover, Future is seeking a valuation of about Rs 2,000 crore ($281 million) from Amazon for the stake, according to the people, who asked not to be identified.

Reserve Bank of India (RBI) has said that housing finance companies (HFCs) will be treated as a category of non-banks for which it will release a revised regulator framework.

RBI move follows the Budget announcement which takes away the regulatory powers from the National Housing Bank (NHB).

Cinema exhibition industry has put up a brave face in front of Reliance Jio’s announcement that the company will launch a service next year, where its premium Jio Fibre subscribers will be able to watch a new release the same day on their television sets as its theatre audience.

The exhibitors – PVR Cinemas and INOX Leisure – have said that theatrical and at-home are two completely different experiences and it is the call of the producers to choose on which platform their content would be distributed for consumption.

As markets opened on Tuesday after a long weekend, Bharat Heavy Electricals Ltd (BHEL) shares tumbled 10%, hitting a new 52-week low of ₹51. Investor dismay is not surprising given the company’s deplorable performance in the June quarter.

The power equipment manufacturer reported an operating loss of ₹266 crore in April-June, a sharp contrast to ₹361 crore profit estimated by 14 brokerages polled by Bloomberg.

One of the leading global FMCG companies P&G has partnered with three startups to drive automation and other tech solutions at the manufacturing sites of P&G’s three popular brands viz Ariel, Tide and Pampers. Maharashtra based Goken Technology India Pvt. Ltd. and Greenovative Energy Pvt. Ltd. and Chennai based Infomine Software Solutions were selected by P&G “to pilot innovative digitization and energy optimization solutions at P&G’s Hyderabad plant,” the company announced in a statement.

Extending the fall on Tuesday, YES Bank shares fell over 10 per cent after plunging nearly 8 per cent in the last session. However, the share price saw slight correction, even as YES Bank announced that its board’s capital raising committee (CRC) will consider the issue price for equity shares in regard to qualified institutional placement (QIP) on Thursday. YES bank shares hit their 5-year low of Rs 95.25. The stock of YES Bank ended the day at Rs 73.60, down 8.50 points, or 10.35 per cent on NSE.

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