YES Bank moved higher to its record high of Rs 1,717, up 6% on BSE after the bank reported a better than expected year on year (Y-o-Y) jump of 32% in net profit at Rs 966 crore in the June quarter (Q1FY18). The bank had reported Rs 732 crore net profit in the same quarter an year ago.

Net interest income (interest earned minus interest expended) rose 44% Y-o-Y to Rs 1,809 crore from Rs 1,256 crore in the corresponding quarter of previous fiscal year.

New Delhi: The merger of Vodafone India Ltd and Idea Cellular Ltd is set to be completed ahead of time in 2018, the companies said on Tuesday.

The Vodafone-Idea merger will create India’s largest telecom firm, eclipsing Bharti Airtel Ltd and pose a formidable challenge to new entrant and disruptor Reliance Jio Infocomm Ltd.

State Bank of India (SBI) on Tuesday informed the Ahmedabad bench of the National Company Law Tribunal (NCLT) that the appointment of an interim resolution professional (IRP) will not impact Essar Steel’s operations. The court was hearing an insolvency petition filed by SBI and Standard Chartered Bank against Essar Steel as part of a dozen accounts picked by RBI for resolution under the Insolvency and Bankruptcy Code (IBC). The bank’s counsel was replying to Essar Steel’s counsel Mihir Thakore who wondered if an IRP would be capable to run the company. “An IRP may not be able to run the company like the management and board does.

State Bank of India (SBI) on Tuesday informed the Ahmedabad bench of the National Company Law Tribunal (NCLT) that the appointment of an interim resolution professional (IRP) will not impact Essar Steel’s operations. The court was hearing an insolvency petition filed by SBI and Standard Chartered Bank against Essar Steel as part of a dozen accounts picked by RBI for resolution under the Insolvency and Bankruptcy Code (IBC). The bank’s counsel was replying to Essar Steel’s counsel Mihir Thakore who wondered if an IRP would be capable to run the company. “An IRP may not be able to run the company like the management and board does.

Ford India is all set to launch the EcoSport facelift by the end of this year and for the first time, the compact SUV has been spied without any camouflage by Team-BHP. Clear images of the new EcoSport confirms major updates at the front such as a redesigned bumper and hexagonal grille with chrome accents and silver scuff plate at the bottom of the bumper. The vehicle will get projector headlamps with LED DRL's, roof rails and 17-inch alloy wheels.

US officials said on Tuesday they have seen increased North Korean activity at a site in the western city of Kusong that could be preparations for another missile test within days. The officials, speaking on condition of anonymity, said that over the past week intelligence has spotted equipment, possibly for launching an intercontinental ballistic missile (ICBM) or an intermediate-range missile, moving into Kusong. Earlier this month, North Korea said it had conducted its first test of an ICBM and mastered the technology needed to deploy a nuclear warhead via the missile.

Hyundai Motor's bleak results stretched into a 14th straight quarter as political headwinds continued to drag down sales in China, its biggest market, and higher incentives failed to boost business in the United States (US).

The South Korean firm — which together with affiliate Kia Motors is the world's No.5 automaker together — has been betting on a gradual earnings recovery, but the plan hit a roadblock with China's backlash over Seoul's decision to deploy an anti-missile system showing no signs of abating.

The Maharashtra government on Wednesday informed that Reliance Industries (RIL) has defaulted on payment of fine and additional surcharge of Rs 1,369.9 crore over the delay in construction of a convention-cum-exhibition centre in Mumbai.

The government gave this information in the state legislative assembly in a written reply to the question asked by Leader of Opposition Radhakrishna Vikhe Patil and some other MLAs.

Ram Nath Kovind (71) was on Tuesday sworn in as India’s 14th President.

After K R Narayanan, who served from 1997 to 2002, Kovind is the second Dalit to be elected to the country’s top constitutional post. He is also the first Bharatiya Janata Party (BJP) member to occupy the Rashtrapati Bhavan.

Expanding the horizon for traders in agri commodity futures, market regulator Sebi has expanded position limits across all spectrums at the client, member and exchange levels.

In a circular dated July 25, Sebi said stakeholders' feedback shows the current numerical value of overall client level position limits for agricultural commodity derivatives is inadequate and not in consonance with the deliverable supply of commodities. After due consultation with various stakeholders on the basis of CDAC (Commodity Derivatives Advisory Committee), the regulator has divided the client-level position limit for agri commodities in three broad category -- sensitive, broad and narrow.

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