Maruti Suzuki posted a net profit of Rs 2,398 crore in the quarter-ended September 2016, up 61.4% from the Rs 1,486 crore posted in the preceding quarter.

Compared to the net profit in the same period last year (Rs 1,497 crore), the July-September net profit was up 60.2%.

The Supreme Court (SC) on Wednesday dismissed a Special Leave Petition filed by National Spot Exchange (NSEL) seeking relief against a High Court order on applicability of Maharashtra Protection of Interests of Depositors (MPID) Act on its affairs. NSEL had pleaded for a stay on proceedings of attachment of assets of the bourse and its directors initiated by the MPID court in Mumbai.

The bench of A K Sikri and N V Ramana called the petition frivolous and imposed costs.

TVS Motor has reported a 33.4 per cent growth in profit during the quarter ended September 2016 at Rs 177.39 crore, as against Rs 132.96 crore in the corresponding period last year.

The company has reported a revenue growth of 20.6 per cent for the quarter ended September 2016. Total revenue grew to Rs 3,726.31 crore in the quarter ended September 2016, as against Rs 3,089.42 crore recorded in the quarter ended September 2015.

Government-owned Oil and Natural Gas Corporation (ONGC) on Thursday reported a 6.3 percent increase in net profits at Rs 4,975 crore in the second quarter of current financial year as against Rs 4,681 crore in the same quarter last year.

The ONGC board also recommended a bonus issue ratio of 1:2, that will provide one bonus share for every two existing shares held. The recommendation will be subject to the approval of shareholders.

The stock market stayed weak the for third straight session as the benchmark Sensex fell nearly 104 points and the NSE Nifty broke below the 8600-mark on Thursday, with participants liquidating bets in view of October derivatives expiry.

Besides, weak Asian cues following a slide in oil prices weighed on sentiment, brokers said. The 30-share index was trading lower by 103.69 points, or 0.37%, to 27,732.82. The gauge had lost 342.57 points in the previous two sessions.

Nasscom, the country’s software lobby, will revise its growth forecast downward from 10-12 per cent this year. This is after its biggest members such as Tata Consultancy Services, Wipro, Cognizant and Infosys have struggled to grow faster in a more uncertain global environment.

These companies are seeing clients shift to faster adoption of automation, cloud and digital technologies, while cutting on traditional information technology (IT) services. Both Infosys and Cognizant have cut their annual revenue forecast, for these reasons. Nasscom says this is a good indication of where the sector is headed.

The Securities and Exchange Board of India (Sebi) will seek a detailed report from the Tata group companies to look into possible violation of corporate governance and listing norms referred by Cyrus Mistry in his five-page letter to Tata Sons board members.

"We are taking note of each and every development and will act immediately if there is any hint of possible violation of corporate governance and listing norms or any other regulation under our jurisdiction," a senior official said.

Seoul: Hyundai Motor Co., whose executives are taking a pay cut because of an earnings slump, posted a drop in quarterly profit after labour strikes hurt production in South Korea.

Operating profit declined 29% to 1.07 trillion won ($943 million) in the three months ended 30 September, the Seoul-based company said on Wednesday. That compares with the 1.22 trillion won average of 23 analysts’ estimates compiled by Bloomberg. Net income fell for a 11th consecutive quarter, also missing analysts estimates.

Idea Cellular Ltd, India’s third largest telco, on Tuesday said it had not violated any norms in issuing points of interconnection (PoIs) to rival Reliance Jio Infocomm Ltd for which the telecom regulator has proposed a penalty of Rs950 crore.

The Telecom Regulatory Authority of India (Trai) on Friday recommended penal action against the country’s top three telcos, to the extent of Rs50 crore per circle, for deliberately blocking calls made from Jio’s network.

India and New Zealand today decided to amend the bilateral tax treaty and expressed commitment to work towards a comprehensive free trade agreement with a view to boost economic ties.

The two sides also vowed to press for successful negotiations of the Regional Comprehensive Economic Partnership (RCEP), said the joint statement issued after the meeting of Prime Minister Narendra Modi with New Zealand counterpart John Key.

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