Riding on six-year high refining margins and strong petrochemicals earnings, Reliance Industries Ltd (RIL) posted a 4.4 per cent increase in consolidated net profit for the June quarter of 2015-16 at Rs 6,222 crore. For the year-ago period, net profit stood at Rs 5,957 crore. The refining and petrochemicals segment contributed 91 per cent to gross sales and 95 per cent to the operating profit, boosting RIL’s overall profitability.

A Bloomberg poll of analysts had expected the firm to post a profit of Rs 6,211 crore, growth of 4.3 per cent.

TVS Motor Company Ltd has posted a 25% increase in net profit to Rs 90.2 crore for the quarter ended June 30, 2015 from Rs 72.3 crore for the quarter ended June 30, 2014.

Total Income has increased to Rs 2630.8 crore for the quarter ended June 30, 2015 from Rs 2313.6 crore for the quarter ended June 30, 2014, an increase of 13.71%.

Mumbai: HDFC Bank Ltd has emerged as the leader in mobile banking with 38.2% market share in FY15, followed by ICICI Bank Ltd, according to data compiled by BNP Paribas Securities India Pvt. Ltd. Most of the state-run banks, which account for more than 70% of the banking assets in the country, are clear laggards in this segment, with just 17% share in total mobile transaction value.

With urban customers and those below 35 years of age clearly preferring mobile banking, market leaders in this segment stand a better chance of becoming their primary bank. Lenders who win the battle in this space will be able to bolster their low-cost deposit base and fees.

Mumbai: Pioneer Natural Resources Co., one of the biggest shale gas companies in the US and partner of Mukesh Ambani’s Reliance Industries Ltd (RIL) in the Eagle Ford Shale acreage, has cut the guidance for production of shale gas and oil for the current calendar year from Eagle Ford.

In a note to investors on 23 July, Pioneer said the company had to cut the production guidance in Eagle Ford Shale due to “lower than estimated production” because of technical and weather-related delays in the second quarter of the current calendar year. This led to a drop in the number of wells brought under production in the second quarter.

Amazon.com Inc shares surged more than 17 percent on Thursday as the online retailer posted an unexpected quarterly profit, pushing its market value above that of Wal-Mart Stores Inc, the world’s largest retailer.

Combined with a bullish forecast for the third quarter, upbeat comments from company executives on Amazon’s Prime delivery service and rapid growth in its cloud computing service, Amazon delivered the kind of results Wall Street is looking for.

BSE Sensex ended 258.53 points down at 28,112.31 while NSE Nifty fell 68.25 points to settle at 8,521.55

At 3:10 pm, BSE Sensex trades 264.81 down at 28,106.03. NSE Nifty trades 74.10 points down at 8,515.70.

At 3:00 pm, BSE Sensex trades 219.32 down at 28,151.52. NSE Nifty trades 55.50 points down at 8,534.30.

India has earned about $100 million launching 45 foreign satellites till date and revenue from its commercial space missions is poised to grow with another 28 foreign satellites planned to be put into orbit between 2015 and 2017.

This information was given by Science and Technology Minister Jitendra Singh in a written reply in the Lok Sabha on Wednesday while providing details of revenue earned by Antrix--the commercial arm of the Indian Space Research Organisation (ISRO)--from launch of foreign satellites.

Benchmark indices continue to trade in the negative zone due to persistent selling on the back of weak corporate earnings amid weakness in the global peers.

At 12:15 PM, the Sensex was lower by 84 points at 28,286 and Nifty slipped by 20 points at 8,569.

Falling for the third consecutive day, the rupee weakened by another 20 paise to trade at 63.97 against the dollar in early trade today on appreciation of the American currency against other major currencies globally as the US Federal Reserve prepares to hike rates.

Besides, increased demand for dollar from importers and a lower opening in the domestic equity market, weighed on the local currency, forex dealers said.

Axis Bank, the country’s third-largest private sector bank, today reported a 18.72% rise in net profit to Rs 1,978 crore in the April-June quarter as compared to Rs 1,666 crore in the same quarter of the previous financial year.

Gross NPA came in at 1.38% compared to 1.34% q-o-q. Net NPA was 0.48% compared to 0.44% q-o-q.

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