Aam Aadmi Party (AAP) chief Arvind Kejriwal will be sworn-in as the Chief Minister of Delhi here on Saturday.

He will be administered the oath of office and secrecy by Delhi's Lieutenant Governor Najeeb Jung at the Ramlila ground at 12 noon.

HDFC Bank on Saturday reported a 20% growth in net profit to Rs 2,794.5 crore for the quarter ended December 2014. The jump in profit is largely on account of higher Other Income and Net Interest Income (NII).

NII, the difference between interest income and interest expenditure, grew 23% to Rs 5,699.9 crore, compared with Rs 4,634.8 crore in the third quarter of the previous financial year.

Asset management firms ICICI Securities Primary Dealership (ICICI Sec PD), Reliance Capital AMC (RCap AMC) and HSBC AMC have emerged as top bidders for managing the huge corpus of retirement fund body Employees’ Provident Fund Organisation(EPFO).

EPFO’s apex decision-making body, the Central Board of Trustees (CBT), will take a final call on appointing fund managers for three-year terms, beginning April 1, in a meeting on Tuesday.

Reliance Communications has reported an 86 per cent year-on-year increase in its consolidated net profit to Rs 201 crore for the quarter ended December, on the back of high data usage and lower finance costs.

It had posted a net profit of Rs 108 crore in the same quarter previous year. The consolidated revenue increased by 5.4 per cent to Rs 5,435 crore in the quarter from Rs 5,157 crore in the same quarter previous year.

Helped by a gain from offloading control of a subsidiary company, utility and tractor vehicle market leader Mahindra & Mahindra (M&M) on Friday posted a one per cent growth in its net profit for the quarter ended December.

The stand-alone net profit for the quarter stood at Rs 942 crore against Rs 934 crore posted in the same quarter last year. However, nearly Rs 300 crore, which was part of the exceptional item list, arose from the shares in Tech Mahindra that M&M received as a result of the merger of Mahindra Engineering Services, a subsidiary of M&M, with the information technology (IT) company.

The government on Friday suffered a setback in the coal block auction process as the high court here provided relief to several companies, which were disqualified from participating in the bidding process on one or the other ground.

The hearing on the issue was conducted in phases till late this evening before two separate benches, which heard the petitions filed by Jindal Steel and Power Ltd (JSPL) and Jindal Power Ltd (JPL), Sesa Sterlite, Sarda Energy and Minerals Ltd, Usha-Martin, Monet Ispat, Utkal Coal Ltd and Jayaswal Neco Industries Ltd.

The Rs 2,122-crore stand-alone net loss by Tata Motors in the recently concluded quarter was the highest reported by the company. The figure, though including a one-time charge linked to the disputed Singur land, was its ninth quarterly operational loss.

The poor performance at home extends beyond two years. Capacity utilisation at its factories is lower than the competition’s. The company's monthly passenger and commercial vehicle sales are lower than in 2010.

ITC on Friday said it had entered into an agreement with health and pharmaceuticals major Johnson & Johnson to buy two of its brands — Savlon, a brand of antiseptic soaps and liquids, and Shower to Shower, a prickly heat powder.

The deal, signed between ITC, Johnson & Johnson Ltd India and Johnson & Johnson Pte Ltd Singapore, marks ITC’s first acquisition in the personal care segment. The move is part of the company’s strategy to diversify its non-cigarette fast-moving consumer goods (FMCG) portfolio, which recorded revenue of Rs 8,100 crore in 2013-14.

Indian markets on Friday rose the most in about three weeks, primarily due to State Bank of India (SBI) recording an improvement in asset quality in the December quarter. Hope of reform-oriented announcements in the Union Budget and the fact that inflation stayed well below the Reserve Bank of India (RBI)’s target boosted sentiment. A rise in global equities, owing to strong gross domestic product growth posted by Germany, further bolstered investor risk appetite.

Capital market regulator Securities and Exchange Board of India (Sebi) has directed Navi Mumbai-based Shah Group Builders to return money collected from investors through issue of equity shares. The regulator also has barred the company and its directors Nalin V Shah, Nirav N Shah and Neelam N Shah from accessing the securities market or issuing any advertisement for soliciting money from public.

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