The Securities Appellate Tribunal on Friday heard some arguments on Friday in real estate major DLF’s appeal against the heavy penalty imposed on it last year by the stock market regulator, Securities and Exchange Board of India (Sebi).The matter will next be heard on February 6.

The tribunal heard arguments by counsel for Sebi. Counsel for DLF answered queries the tribunal had previously sought clarification on, beside making its arguments against the Sebi order.

State-run power generator NTPC reported single-digit growth in earnings and a mraginal decline in revenues during the quarter ended December, extending its two-year run of muted earnings’ growth. The company reported a seven per cent year-on-year increase in its consolidated net profit in the quarter to Rs 3,074 crore against Rs 2,861 crore last year. The net sales were down 0.2 per cent y-o-y to Rs 18,739 crore. The NTPC has reported negative profit growth in three quarters.

Country's largest software exporter Tata Consultancy Services (TCS) said on Thursday it has been picked as the best IT service provider in Europe in terms of both customer satisfaction and performance, according to a survey.

The pan-European survey, conducted by Whitelane Research, polled 1,470 CEOs, CIOs, CFOs, COOs and CTOs from top IT spending European organisations controlling over 4,200 IT contracts across 13 countries. The survey evaluated performance and levels of satisfaction with 23 leading IT services companies operating in the continent.

Madhya Pradesh government on Thursday expressed confidence that Special Economic Zones (SEZ) of IT gaints Tata Consultancy Services (TCS), Infosys and one more company will be operational by 2017 in Indore. The SEZs of the three companies were notified in 2013.

"For SEZs of TCS, Infosys and Impetus, the state government has issued all no objection certificates. I had talks with representatives of the three companies and they have assured that their units will be operational by 2017," State Information Technology Minister Bhupendra Singh, told reporters.

Railway Minister Suresh Prabhu today hinted that there may not be any cut in train fares in spite of the fall in diesel prices.

“Actually, the Railways recover only 50 per cent of the passenger cost they bear. So, there is already a huge element of subsidy (and passengers are getting benefits as passenger fare is subsidised),” Prabhu told reporters here.

We maintain a ‘buy’ rating on HDFC Bank and raise price target to Rs 1,255 (earlier Rs 1,240). The stock trades at 5x adjusted book value (December 2014) and 21.4x 12-month rolling earnings (Dec 15). Our target implies a forward book multiple of 4.4x and 20.0x earnings versus last eight-year averages of 3.9x and 19.8x, respectively.

The BSE Sensex continued its record setting spree and hit a new peak of 29,844.16 and the NSE Nifty inched towards the 9,000-level in early trade today on robust fund inflows and sustained optimism over the upcoming Budget.

The 30-share index rose by 162.39 points, or 0.54 per cent, to hit a new peak of 29,844.16 (intra-day), breaking its previous record of 29,786.32 touched on January 28.

Ashok Leyland Ltd reported an abnormally high jump in profit for the December quarter, although investors were not impressed. In the year-ago December quarter, it reported an operating loss amounting to 5% of revenue. Last quarter, operating profit rose to 7.1% of revenue on the back of a 72% jump in net revenue.

But analysts had estimated an ever higher profit margin of 7.4%, more or less in line with the margins the company had reported for the September quarter. Besides, Ashok Leyland trades at steep valuations of 10 times enterprise value to Ebitda, based on estimates for 2016-17. Ebitda, or earnings before interest, taxes, depreciation and amortization, is a key measure of profitability.

New Delhi: India’s largest power producer NTPC Ltd has shortlisted two plants, one owned by Gautam Thapar’s Avantha Group and another by Adhunik Group, for potential acquisitions as it seeks to add capacity to meet future demand for electricity—a rare instance of a state-run entity purchasing domestic private sector assets.

The projects are Avantha Power and Infrastructure Ltd’s (APIL) 600 megawatt (MW) Jhabua Power Ltd (JPL) in Madhya Pradesh and Adhunik Thermal Energy Ltd’s 540MW Jamshedpur project in Jharkhand.

Mumbai, Jan. 29: Tata Motors today unveiled its plans for the domestic and overseas markets.

The company expects a capital outlay of Rs 4,000 crore for the Indian business and $5.3-5.6 billion for Jaguar Land Rover over the next 2-3 years.

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