The rupee declined by 12 paise to 64.10 against the US dollar in early trade today, extending weakness for the second day due to appreciation of the American currency overseas.

Besides, month-end demand for the American currency from importers weighed on the rupee but a higher opening in the domestic equity market capped the losses, forex dealers said.

ICICI Bank, India's biggest private sector lender by assets, reported a 12% rise in quarterly profit, beating estimates, and its bad loan ratio fell sequentially, sending its shares higher by more than 5%.

Net profit rose to Rs 2,976 crore ($465 million) for its fiscal first quarter to June 30, from Rs 2,655 crore reported a year earlier.

The Bombay High Court has asked Indian food safety authority and Nestle India to retest Maggi noodles, television channels reported on Friday.

Nestle has been at the centre of India's worst food scare in a decade, after a regulator in Uttar Pradesh in May found excess lead in a sample of its popular Maggi noodles.

Diversified group ITC has set a target of garnering a revenue of Rs 1 lakh crore by 2030 from its FMCG business, as it looks to increase presence in the segment, company's chairman Y C Deveshwar said today.

At present, revenue from FMCG business stands at around Rs 9,000 crore.

State-run telecom service provider Bharat Sanchar Nigam Ltd (BSNL) will invest Rs.6,000 crore over the next three years to set up some 40,000 Wi-Fi hotspots across the country, its chairman-cum-managing director Anupam Shrivastava has said.

"We are now thinking of rolling out wi-fi hotspot through capital expenditure model also. We are in the process of having our tender ready. We will be floating our tender and put our own equipment. We will be doing everything," Shrivastava told IANS in an interview.

German carmaker Mercedes-Benz today launched three ultra luxury vehicles -- S500 Coupe, S63 AMG Coupe and SUV G63 AMG 'Crazy Colour' edition -- priced between Rs 2 crore and Rs 2.60 crore (ex-showroom Delhi).

The company also introduced its exclusive 'designo' platform that allows customers to choose exclusive paints, high quality interiors, trims and features.

NTPC Ltd, the country's largest power generator, today reported a 3% decline in net profit for the first quarter ended June on the back of lower generation and Plant Load Factor (PLF), a measure of power plant efficiency and output.

The company reported a net profit of Rs 2,135 crore for the quarter as compared to Rs 2,201 crore for the same quarter last financial year (2014-15). Gross generation for the June quarter stood at 58.69 billion units (BUs), a 7% decline from 63.15 BUs in the year ago period, the company said in a statement.

Private sector lender Kotak Mahindra Bank posted a 26% drop in its consolidated net profit for the first quarter ended June 30, 2015. The bank posted net profit of Rs 516.57 crore compared to Rs 698.31 crore in same quarter previous fiscal.

The bank witnessed higher provisioning towards non-performing assets, which came mainly from the portfolio of ING Vysya Bank which was merged with Kotak Mahindra on April 1, 2015.

Shares of Yes Bank Ltd rallied 3% on Wednesday following the June quarter earnings announcement, which was more or less in line with the estimates. Net profit grew over 27.7% to Rs.551 crore compared with the year ago period.

The positive stock reaction could be attributed to buying at lower levels after the recent sell-off.

Nagpur: Yakub Memon, the lone 1993 Mumbai serial blasts convict facing gallows, was hanged to death on Thursday after his last ditch attempts to get a reprieve failed early this morning in the Supreme Court. Memon was hanged shortly before 7am at the Central Jail in Nagpur, top official sources said.

Earlier during the night, Supreme Court dismissed his last-minute attempt to escape the gallows by rejecting his plea for a stay on the death warrant. “Stay of death warrant would be a travesty of justice.

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