New Delhi: Hyundai Motor India Ltd (HMIL) on Monday reported a 1.5% increase in total sales at 52,515 units in May.

The company had sold 51,718 units in the same month last year, HMIL said in a statement.

Restructuring of Rs 119 bn faded an otherwise excellent quarter. Asset quality is much better than headline and much better than peers. Large corporate loans are still at risk. Cost curve is fully baked, to inflect sooner. High provision coverage and decent capital, it’s a story worth owning. We have cut earnings, and revise price target to Rs 360.

Better NIM and help from costs to boost core PPOP: Domestic NIM (net interest margin) improved by 6 basis points owing to interest income on income tax refunds (one-off), while foreign NIM improved 12bps sequentially. Better asset quality going forward should help NIM—low interest reversals.

NEW DELHI: GMR Infrastructure has reported a consolidated net loss of Rs 892 crore for the quarter ended March 31, 2015, impacted by various charges including higher finance costs.

The infrastructure giant with interests in airports, energy and highways had reported Rs 1,170 crore net profit for the January-March quarter of the 2013-14 fiscal.

Commercial vehicles major Ashok Leyland Ltd has posted a growth fo 40% in sales during the month of May, 2015, selling 9294 units compared to 6632 units sold during May, last year.

The sales of medium and heavy commercial vehicles (M&HCV) grew by 41%, to 6892 units during May, this year, compared to 4884 units during the same month of previous year.

After failing to get private partners to develop four of its coal bed methane (CBM) blocks twice, Oil and Natural Gas Corporation has now decided to go ahead and explore these blocks on its own at an invetsment of Rs 5,000 crore.

D K Sarraf, chairman and managing director ONGC said, "We have decided to expedite development in our CBM blocks. CBM does not require much of technology or expert knowledge. Since we were in this business, our team is familiar with the exploration plans."

Engineering and construction major Larsen & Toubro (L&T) today said it has bagged orders worth Rs 1,099 crore across various business verticals last month.

The company's power transmission and distribution business bagged orders worth Rs 517 crore in both international and domestic markets, including add ons, L&T said in a filing to the BSE.

Intel Corps’ intention of acquiring rival company Altera, finally seems to be shaping up as it prepares to announce the roughly $17 billion acquisition on Monday, a move that would allow it to boost revenue and help defend a crucial business.

Altera stockholders will receive about $54 a share, the amount which was rejected by them in earlier rounds of acquisition talks in April this year.

State-owned BHEL today said it has bagged a Rs 369-crore order for supply and installation of a power cycle piping (PCP) package for Barh project of NTPC.

"Bharat Heavy Electricals Limited (BHEL) has bagged a contract for supply and installation of a PCP package for Barh Super Thermal Power Project (STPP), stage-I (3x660 MW), of NTPC," BHEL said in a press release.

Auto-maker Mahindra & Mahindra today reported 3% decline in total sales at 36,706 vehicles in May.

It had sold 37,869 units in the same month last year, M&M said in a statement.

External Affairs Minister Sushma Swaraj said on Sunday Prime Minister Narendra Modi’s visits to 18 countries in 12 months helped push the government’s economic reform agenda.

Lauding her government’s aggressive foreign policy stance, Swaraj said the government had taken definitive steps towards “transformational diplomacy” and “diplomacy for development”, and was able to forge long-term bilateral ties with 101 countries.

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