TVS Motor Co has reported a 16.3% growth in its net profit for the quarter ended December 31, 2017 to Rs 154.35 crore, compared with Rs 132.67 crore in the same quarter last fiscal, even as revenues have grown at a faster 23.5% (after adjusting for excise and GST) to Rs 3,685 crore. The lag in profit growth was mostly due to lower income and higher taxes. Tax expenses increased sharply by 51% to Rs 56.01 crore in Q3 FY18 from Rs 37.13 crore in the year-ago period.

Idea Cellular on Tuesday said that it has partnered with domestic handset maker Karbonn to offer cashbacks worth Rs 1,500 and Rs 1,000 on smartphones and feature phones, respectively. This is Karbonn’s second such tie-up. It had partnered with Bharti Airtel last year to offer cashbacks on a select range of smartphones under the operator’s ‘Mera Pehla Smartphone’ offer.

State Bank of India (SBI), the country’s largest lender, on Tuesday raised interest rates on deposits of over Rs 1 crore by 40-125 basis points (bps). This is the second time the bank has raised rates on bulk deposits in as many months. Rates on one-year deposits were raised by 100 bps to 6.25%, while those on deposits with maturities of two years or more were hiked by 75 bps to 6%.

MUMBAI: With one in every two car buyers surfing online to decide their brand purchase, Mahindra & Mahindra, India's largest utility vehicle maker has decided to revamp it's digital platform by engaging with experts BCG, Microsoft and Dassualt to engage with prospective buyers right through their purchasing cycle.

NEW DELHI: Introduction of goods and services tax has come as a boon in a totally unexpected way for Hyundai Motor, the second largest producer of passenger vehicles in India.

The new nationwide indirect tax system has allowed the company to do a stockyard rationalisation, as it doesn't have to keep finished products locally for tax optimisation.

US President Donald Trump today urged the Congress to pass a legislation that promotes merit- based immigration, a move that would benefit hundreds of thousands of Indian professionals.

He proposed a pathway to citizenship for almost 1.8 million illegal immigrants who were brought in the US by their parents at a young age.

Key indices on Wednesday opened lower over weak global cues. The benchmark BSE sensex opened lower around 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80.

At 9:48 AM, Nifty was down with 6.30 points at 11,043.35, while Sensex was at 35,973.68.

Facebook Inc said on Tuesday it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings.

"We've created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency," Facebook's product management director, Rob Leathern, said.

The government and World Bank on Tuesday signed a $100 million (about Rs 6,400 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.

The funding aimed at promoting rural enterprises, facilitate their access to finance, and create employment opportunities for youth particularly women, the finance ministry said in a statement.

State-owned thermal power giant, NTPC has listed $6 billion (about Rs 40,000 crore) medium-term note (MTN), a debt instrument on IndiaInternational Exchange at IFSC, GIFT City (India INX).

With this, NTPC has become India's first quasi-sovereign company to list at India INX. Company officials said the listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.

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