Country’s largest car maker Maruti Suzuki India today said its compact car Celerio has achieved one lakh sales mark in the domestic market in less than 1.5 years after its launch in the country.

Launched in February last year at the Delhi Auto Expo, Celerio is credited with introducing auto gear shift technology in the Indian automobile industry.

IT major Tata Consultancy Services reported a 3.3% sequential decline in profit after tax at Rs 5,709 crore in the April-June quarter and on annual basis it declined 13%.

It may be recalled that in the previous quarter ending March 2015, the company announced a cumulative bonus payout of Rs 2,628 crore to employees. If the payout is not factored in, profit for the quarter stands at Rs 5,906 crore.

Indian data to be released in coming days is likely to show consumer price inflation nudged up slightly in June and factory output growth little changed in May, pointing to a gradual improvement in industry, according to a Reuters poll.

The median forecast from a survey of 30 economists this week put inflation at 5.10 percent in June compared to May’s 5.01 percent.

MUMBAI: Government owned State Bank of India and second largest private bank HDFC Bank are most active in addressing customer complaints and queries on social media while Yes Bank has the highest market share of buzz on social media, says a report released by Simplify 360. The report analysed 9 banks wherein it collected data and counting the mentions for each company on Twitter and Facebook.

Mumbai: Analysts have slashed their profit estimates for Indian lenders by the most in two years amid renewed concerns over the nation’s sluggish credit growth and rising bad loans.

Twelve-month earnings projections for members of the S&P BSE India Bankex Index fell 3% last month after the banks published their reports for the year ending 31 March, estimates compiled by Bloomberg show.

Microsoft Inc’s future in mobile devices likely hinges on the software maker’s ability to convince developers to create apps for the phone version of Windows 10 after its ill-fated Nokia acquisition helped trigger 7,800 layoffs.

The job cuts announcement is an acknowledgement that its 2013 $7.2 billion purchase of Nokia was never going to help paltry sales of its Windows Phone, and that it needed a new approach.

MUMBAI: Public sector lender Bank of BarodaBSE 1.55 % today cut base rate by 10 basis points to 9.9 per cent effective from July 13, 2015.

In a filing to the Bombay Stock Exchange, Bank of Baroda said that is reduced Base Rate by 10 basis points from 10.00 per cent to 9.90 per cent and also to reduce Bench-mark Prime Lending Rate (BPLR) by 10 basis points from 14.25 per cent to 14.15 per cent. The reduction in both rates will be effective from July 13, 2015.

BSE Sensex and NSE Nifty were butchered in last session under influence of Chinese free fall. Today, the start is likely to be cautious and some stabilization can be expected after the steep fall.

Traders will be getting some support with global rating agency Standard & Poor’s statement that the confidence level in India continues to grow amid indications of slower growth ahead for the Asia-Pacific region.

Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.

TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.

YES Bank has completed the placement of Rs 554 crore of Basel-III compliant Tier-II bonds at a coupon rate of 9.15 per cent with a tenor of 10 years.

The issue closed on June 29 and the bank said it witnessed strong demand from investors, including insurance companies and pension and provident funds, resulting in a total subscription. The management said the capital had been raised to augment the bank's capital base and to employ it for growth.

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