Housing Development Finance Corporation (HDFC), India’s largest mortgage lender, net profit increased by only 1.21 percent to Rs 1,360.98 crore from Rs 1,344.66 crore in the April-June quarter a year ago.

The loan book jumped by 13.6% to Rs 2,31,224 crore at the end of June quarter compared to Rs 2,03,384 crore a year ago. In the last twelve months, loans worth Rs 10,949 crore were sold and after adding this amount the lender recorded a growth in the individual loan portfolio of 23%. The growth in the non-individual loan portfolio was recorded at 10%.

MUMBAI: The story goes that some months ago an investor expressed impatience with Idea Cellular's stance that the Indian consumer wasn't ready for 4G or next-generation, high-speed network technology.

The investor suggested that this belief was misplaced, given that the competition was very busy on this front.

Facebook Inc plans to scale up its service to offer free basic Internet on mobile phones, an executive said, after introducing the application in 17 developing countries over the past year.

In a blog post released to mark the first year of the initiative, Facebook said it will open a portal allowing any mobile operator to offer the service under its Internet.org platform. Facebook currently partners with specific operators to launch the service in different countries.

Bus ticketing website redBus has launched services in Malaysia and Singapore as a part of its overseas expansion drive.

Travelers can now book inter-city bus tickets between Singapore & Malaysia and between cities within Malaysia, under the domain www.redbus.sg and native mobile apps on iOS and Android, ibiboGroup which owns redBus announed today.

NEW DELHI: Security in the national capital has been beefed up and a red alert has been sounded following a terror attack in Punjab, police said on Monday.

"The security in the national capital, which is always kept on high alert, is beefed up around Independence Day. However, following the attack in Punjab's Gurdaspur district, a red alert alert has been issued here," a police officer told IANS.

Finance Minister Arun Jaitley today said that the government will take a view on the draft Indian Financial Code, which proposes to dilute powers of the RBI chief, after receiving comments from stakeholders.

“FSLRC has made its recommendations, which have been made public for comments. After the comments are received, it is only then that the government will take a view,” he told reporters here.

The Securities and Exchange Board of India (Sebi) is not in favour of providing the details of the participatory note (PN) holders to the income tax department as desired by the Special Investigative Team (SIT) on black money.

A senior Sebi official told The Financial Express, “It will tantamount to a roving inquiry and that is not right and will hurt investment into the country as no investor would invest after knowing that his details are being given to the income tax department”.

Markets extended losses in noon trade on Monday tracking a sharp sell-off in Chinese stocks. Further, the review of P-Notes norms by market regulator Sebi and issue of levying minimum alternate tax (MAT) on foreign portfolio investors continued to weigh on investor sentiment.

At 13:08PM, the 30-share Sensex was down 429 points at 27,684 and the 50-share Nifty was down 126 points at 8,396.

IL&FS Transportation Networks Ltd today said it has bagged Rs 2,288.18-crore worth project from NHAI for four-laning of Amravati-Chikhli section of NH-6 in the state of Maharashtra.

"The company has been awarded the project through issuance of a letter of award dated July 24, 2015 by NHAI. The company had quoted a grant of Rs 183.05 crore for project," IL&FS Transportation Networks Ltd said in a BSE filing.

A shift in investment from bank deposits to instruments like mutual funds and government securities has trimmed treasury profit for Reliance Industries to just over 29 per cent of the net income in the June quarter, from 40 per cent for many quarters.

Trading profit, which used to average around 40 per cent in the past years, has narrowed to just about Rs 1,832 crore which is 29.4 per cent of the overall net income of Rs 6,222 crore in the quarter to June of the firm, according to the Q1 numbers released by it.

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