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.

New Delhi: ONGC Corp. Ltd and other state-run explorers may have to pay about Rs.10,900 crore in fuel subsidy after the finance ministry has agreed to provide only Rs.5,085 crore in cash subsidy for the December quarter.

Out of the Rs.15,981 crore of revenue losses fuel retailers incurred on selling LPG and kerosene at government-controlled rates in October-December, the finance ministry has agreed to make good only less than one-third or Rs.5,085 crore by way of cash subsidy, sources said.

Mumbai: ICICI Prudential Life Insurance has initiated a process to sell up to a 5% stake in the life insurance venture, said a person familiar with the development, adding that the process is in the early stages. He declined to be named.

Long-term investors like sovereign funds, pension funds and other financial investors have evinced interest in picking up stake in the life insurance joint venture between ICICI Bank Ltd (74%) and Prudential Plc (26%).

Mumbai: Mahindra and Mahindra Ltd (M&M) on Friday reported a net profit of Rs.942.14 crore in the December quarter, marginally up 0.87% from a year ago despite lower sales and higher employee cost.

The company has posted a net profit of Rs.934.06 crore in the year-earlier period.

FMCG major ITC has entered into an agreement with Johnson & Johnson to acquire its brands, ‘Savlon’ and ‘Shower To Shower’, in India.

This acquisition will be ITC’s first purchase in the personal care segment.

Shares of Bharat Heavy Electricals Limited (BHEL) were trading lower by 3% at Rs 260 on NSE after reporting a disappointing set of numbers for the quarter ended December 2014 (Q3).

The stock opened at Rs 251 and has seen a combined 5.89 million shares changing hands on the counter till 1024 hours on NSE and BSE.

Shares of State Bank of India (SBI) has rallied 7% to Rs 304 on NSE after the state-owned bank said its gross non-performing assets (NPA) as a percentage to total advances rose marginally at 4.90% as on December 31, 2014 (Q3FY15) compared to 4.89% in September quarter. Gross NPA stood at 5.73% at the end of December 2013 quarter.

Net NPA stood at 2.80% in December 2014 quarter against 2.73% in preceding quarter and 3.24% in the same quarter last year.

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