Lanco Infratech is likely to face liquidation as a resolution plan by Thriveni Earthmovers was not approved by its committee of creditors (CoC), the company said in a regulatory filing on Thursday. One of the 12 large cases to be sent to the National Company Law Tribunal (NCLT) last year, Lanco’s 270-day insolvency deadline ends on May 4. Lanco Infratech owed banks Rs 43,502 crore at the end of fiscal 2017.

L&T Finance Holdings on Thursday reported a 28.5% year-on-year (y-o-y) rise in consolidated net profit for the quarter ended March, 2018 to Rs 405.99 crore on the back of a 31% y-o-y growth in total income to Rs 2,938.44 crore. Its net interest margin (NIM), a key measure of profitability, improved by 27 basis points (bps) sequentially to 5.32%.

key indices on Friday opened mildly lower tracking weak Asian cues. The BSE benchmark Sensex was down 92.18 points at 35,012.69 and the 50-share NSE Nifty fell 32.85 points to 10,646.80.

Asian shares were steady while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming US payrolls data for fresh catalysts.

PNB Housing Finance has posted growth of 36 per cent in its net profit to Rs 2.2 billion in the March quarter from Rs 1.5 billion during the corresponding quarter of the previous financial year.

On an annual basis, the housing company’s net profit increased 58 per cent to Rs 8.3 billion at the end of 2017-18, from Rs 5.23 billion at the end of 2016-17.

BSNL has introduced a new prepaid recharge pack for its customers. After launching the STV 99 and STV 319 prepaid recharges, the state-run telco now offers unlimited calls and 1GB data per day to the prepaid customers at Rs 349 for a validity of 54 days. The new recharge pack by BSNL aims to take on the recent offerings by the incumbents such as Airtel, Jio, Vodafone, and Idea.

NASA has said that it successfully demonstrated a new nuclear reactor power system that could enable crewed missions to the Moon, Mars and destinations beyond. NASA announced the results of the demonstration, called the Kilopower Reactor Using Stirling Technology (KRUSTY) experiment on Wednesday at its Glenn Research Center in Cleveland.

Global rating agency Standard and Poor's (S&P) on Thursday said rating assigned to various instruments issued by Axis Bank were unaffected by the sharp rise in its non-performing assets.

The increase in bad loans was part of a balance sheet clean-up exercise underway in the Indian banking system, the rating agency said.

Calcutta: Coal India has registered a 16.7 per cent growth in production in April along with rising offtake and increased rake loading.

The coal mining public sector undertaking produced 44.84 million tonnes (mt) of coal in April 2018, an increase of 6.4mt compared with 38.44mt produced in April 2017.

Dell Technologies has teamed up with Microsoft to deliver a joint Internet of Things (IoT) solution to help vertical customers simplify deploying their end-to-end IoT solutions, from the edge to the Cloud. The tech giants would build a secure and intelligent edge-to-Cloud solution that would feature Dell Edge Gateways, VMware Pulse IoT Center and Microsoft Azure IoT Edge technologies. The solution will be available for purchase in the second half of 2018, the companies announced at the Dell Technologies World 2018 here.

Vedanta Cairn, operator of the prolific Barmer field in Rajasthan, bid aggressively, while eight other companies, including state-run ONGC, Oil India, Indian Oil and GAIL (India) also put in their bids for the 55 hydrocarbon blocks offered under the Open Acreage Licensing Policy (OALP), a critical part of the March 2016-launched Hydrocarbon Exploration Licensing Policy (HELP).

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