India’s largest IT services company Tata Consultancy Services (TCS) posted its first-ever drop in the full year net profit on Thursday in a span of last 14 years since the firm got listed on Indian exchanges in 2004. But the shares of the market capitalisation leader TCS went on a joy ride on Friday to hit a record high level.

As international crude oil price touches a four year high of $74 a barrel, diesel price hits the highest level ever witnessed in India’s history, while petrol price has touched a near five-year high. Petrol and diesel prices on April 20 were hiked by 1 paisa and 4 paise respectively, according to Indian Oil’s website.

Private sector lender Yes Bank today said has received Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore. “This is a significant development in the overall augmentation of Yes Bank’s business model and will help in further diversification and expansion of financial services to the NRI diaspora,” Yes Bank MD and CEO Rana Kapoor said.

Commercial Vehicle major Ashok Leyland is expecting a 20 per cent growth in its bus business, as the segment is picking up growth from a slow pace last year.

In the previous year, the industry and the company had seen a decline of around 23 per cent owing to various reasons including confusion among customers regarding the delayed Bus Body Code. However, the company managed to increase its market share by 0.3 per cent.

NEW DELHI | MUMBAI: The GMR Group’s promoter holding company is seeking to restructure a portion of its Rs 4,000-crore debt liability as the Bengaluru-based infrastructure firm seeks flexibility in balance sheet to meet future capital requirements of its businesses.

More than a dozen lenders — including US private equity giant KKR’s NBFC arm, Yes Bank, Srei Infrastructure, HDFC, L&T and Piramal Group — have either given loan or subscribed to non-convertible debentures (NCD) of the parent. Lenders hold GMR Infra shares as collateral in some cases.

Bengaluru: Amazon India is the fastest growing marketplace in India and the most visited site on both desktop and mobile in the country, according to Amazon founder and chief executive officer (CEO) Jeff Bezos.

In a letter to shareholders early on Thursday, Bezos cited data from market analytics firms comScore and SimilarWeb to highlight Amazon’s dominance in India.

The benchmark BSE Sensex declined by about 80 points in early session today, in tandem with weak global cues amid rupee’s plunge below the 66 mark.

Besides, the release of the minutes of last Monetary Policy Committee (MPC) meeting on April 4-5, indicating the Reserve Bank of India may shift to a hawkish monetary stance in June, weighed on investor sentiment.

The State Bank of India (SBI) on Thursday said that the current and sudden surge in Currency in Circulation (CIC) could be superficial.

The leading Public Sector Bank (PSB) added that ATM withdrawals have declined in quarter four (Q4) on a sequential basis.

To catch manipulators, markets regulator Sebi has started looking at Facebook accounts of suspected persons, with 'friends' and 'likes' for posts being scanned in insider trading cases.

The watchdog checked the Facebook profiles of suspected persons to ascertain whether they were 'connected' in a case related to violation of insider trading norms.

With the National Company Law Tribunal (NCLT) rejecting the second round of bidding in the insolvency process of Essar Steel and asking the resolution professional (RP) and the committee of creditors (CoC) to review the first round of bidding, there is once again uncertainty on what to expect.

“The Insolvency and Bankruptcy Code (IBC) is a new law and today’s order would just help to make the IBC more robust,” said Alok Dhir of Dhir & Dhir Associates.

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