Tata Communications reported a loss of Rs 209 crore for the fourth quarter ended March 31, 2017.

The gross revenue for the same quarter stood at Rs 4,300 crore.

"During the current quarter, based on the High Court order dated April 28, 2017, the company has made a provision of Rs 872 crore towards the contractual obligation under...Agreement as the difference between the fair market value of the shares to be acquired and the advance paid to Tata Sons for shares of Tata Teleservices," the company said in a statement.

The country's largest mortgage lender HDFC Ltd on Thursday reported a 21.6 per cent fall in its standalone net profit at Rs 2,044.20 crore for the quarter ended March 2017.

The Housing Development Finance Corporation (HDFC Ltd) had made a net profit of Rs 2,607.05 crore on a standalone basis during corresponding January-March period of 2015-16.

The SBI has declined to share the quantum of money lying in suspended bank accounts in which the interest amount of customers, who do not claim it due to religious reasons, is kept. Replying to an RTI query, the State Bank of India (SBI) said it does not maintain such information in its database “in normal course of business and extraction of the same will be voluminous and time taking activity”.

American tech major Adobe today signed a long-term deal to provide digital solutions to the merger-bound Idea Cellular, which will help the third biggest telco save on operational costs. The partnership will augment the Birla group company’s growth strategy through “enhanced customer retention as well revenue generation”, its managing director Himanshu Kapania said in a statement.

The Indian football team has jumped up a place to be ranked 100th for the first time ever in over two decades in the latest FIFA rankings released on Thursday. For the first time in 21 years and only the sixth time after Independence, the national football team has found a place in the top-100 of FIFA rankings.

This is India's best-ever FIFA ranking since April 1996 when they were also ranked 100. India's highest FIFA Ranking till date has been 94, achieved in February 1996. India, meanwhile, retained 11th spot in AFC.

Express Wi-Fi is one of Facebook’s many connectivity initiatives under its internet.org umbrella. Unlike more futuristic projects like the Aquila drone, though, the emphasis here is on existing Wi-Fi technologies and allowing local entrepreneurs to resell internet access.

In India, Facebook is currently working with a number of local ISPs and 500 local entrepreneurs, but that number is about to grow quite a bit.

Mumbai: Carlyle’s group’s $1-billion-plus holding in mortgage lender PNB Housing Finance Ltd is now the private equity fund’s third biggest holding in any listed company, the group’s co-founder Bill Conway said.

Carlyle is a global alternative asset manager with $162 billion of assets under management across 287 investment vehicles as of 31 March.

Mumbai: The stressed loans resolution package being prepared by the government will empower the Reserve Bank of India (RBI) to directly intervene in settling bad loan cases, said people aware of the matter. The central bank can effectively ask banks to sit down with defaulters and quickly sort out the Rs9.64 trillion bad loan mess. The Non Performing Assets (NPA) problem in the banking system is to a large extent confined to 50 large loan defaulters.

With consumer preferences inclined to newer features in cars, Maruti Suzuki is focusing on two pedal technologies like auto gear shift, automatic transmission (AT) and continuously variable transmission (CVT) in its vehicles across segments. The company first introduced the auto gear shift (AGS) with its hatchback Celerio and subsequently the technology became a part of WagonR and Alto. The company also introduced the CVT technology in its premium hatchback Baleno.

State-run Indian Oil Corporation plans capital expenditure (capex) of Rs 2,000 crore and commission around 1,000 km of pipelines in the current financial year to further augment its current pipeline network of around 13,000 km. According to Anish Aggarwal, director-pipelines, Indian Oil Corporation, same as last year a majority of the commissioning will be in the eastern part of the country.

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