Cognizant Technology Solutions Corp reported a better-than-expected quarterly profit on Thursday, as the IT services provider benefited from lower income tax compared with the year-ago period.

The company's net income rose 87 percent to $470 million, or 80 cents per share, from $252 million, or 41 cents per share, a year earlier.

Japan's Suzuki Motor Corp on Thursday posted a 43.8 per cent jump in its first-quarter operating profit, a sixth consecutive year-on-year rise, boosted by strong sales growth in its biggest market, India, and at home.

Operating profit at Japan's No 4 automaker came in at 85.1 billion yen ($769 million) in April-June, up from 59.2 billion yen a year ago and above an average forecast for 73.96 billion from eight analysts polled by Thomson Reuters.

The introduction of the Goods and Service Tax (GST) has pushed down activity in the services sector to a nearly four-year low in July even as manufacturing activity reels at an eight-and-a half-year low.

The widely-tracked Nikkei Purchasing Managers’ Index (PMI) on Thursday showed that PMI for the dominating sector of the Indian economy plunged to 45.9, its lowest level since September 2013. At an eight-month high, PMI had been 53.1 in the previous month of June.

In a setback to Congress party, the Supreme Court on Thursday refused to stay Election Commission's notification allowing None Of The Above (NOTA) option for Rajya Sabha poll.

The top court, however, agreed to examine constitutional validity of poll panel's notification to give an option of NOTA in elections.

Shares of state-owned oil refiners rallied by up to 5% on BSE in intra-day trade on report that the government will end subsidy on kerosene.

Indian Oil Corporation (IOC) gained 5% to Rs 388, while Hindustan Petroleum Corporation (HPCL) surged 4.4% to Rs 401 and Bharat Petroleum Corporation (BPCL) rose 3% to Rs 499 on BSE in intra-day trade. On comparison, the S&P BSE Sensex was down 159 points or 0.49% at 32,318 at 10:25 am.

India's largest lender State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors.

"The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures... Aggregating Rs 2,000 crore to various investors," State Bank of India (SBI) said in a regulatory filing on Thursday.

Bajaj Finance Ltd said on Wednesday it would buy nearly an 11 per cent stake in mobile payments wallet company One MobiKwik Systems Private Ltd for about Rs 225 crore ($35.36 million).

Bajaj Finance will enter into a subscription agreement with MobiKwik to buy 10 equity shares and 271,050 compulsory convertible preference shares (CCPS), Bajaj Finance said.

China has again extended by three months its technical hold on the US, France and UK- backed proposal to list JeM chief and Pathankot terror attack mastermind Masood Azhar as a designated terrorist by the UN.

China had in February this year blocked the US move to designate Azhar as a global terrorist at UN. The deadline for China to take action on its technical hold was till August 2.

Bata India hit its 52-week high of Rs 611, up 5% on BSE in early morning trade, after the company reported a 20% year-on-year growth in net profit at Rs 60.4 crore in June quarter (Q1FY18). The company engaged in footwear & accessories business had profit of Rs 50.5 crore in year ago quarter.

Net sales during the quarter under review grew 10% at Rs 743 crore against Rs 675 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxation, depreciation and amortisation (EBITDA) margin improved to 14.3% from 13.7%.

Mumbai, Aug 2 (PTI): The Reserve Bank of India on Wednesday lowered the benchmark lending rate by 25 basis points to six per cent, citing a reduction in upside risk to inflation.

cut in the benchmark lending rate, the RBI’s first since October 2016, takes it to a six-year low, and is expected to nudge down monthly payments for retail loans.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.