Oil & Natural Gas Corporation (ONGC), the country’s state-owned petroleum explorer and producer, reported a 19 per cent jump in net profit for the quarter ended June. However, it missed analyst estimates of earnings, due to higher discounts for oil marketing companies (OMCs).

The company recorded a net profit of Rs 4,782 crore during the three-month period, as against Rs 4,016 crore in the corresponding quarter last year (2013-14). This was lower than the Rs 5,850 crore median estimate of 29 analysts surveyed by Bloomberg.

New Delhi: Indian-origin mathematician Manjul Bhargava has been awarded the prestigious 2014 Fields Medal at the International Mathematical Union’s (IMU) International Congress of Mathematicians held in Seoul, South Korea.

The medal recognizes outstanding mathematical achievement for existing work and for the “promise of future achievement”.

HTC is planning to launch its video-clip making service called Zoe for all Android Devices. The news was first confirmed by Re/code and quickly revealed by Drew Bamford, the head of HTC’s user interface team. The app is expected to launch this week and the company will allow the other smartphones to run the Zoe app.

Zoe automatically creates video clips featuring photos and snippets from a user’s camera roll, applies a soundtrack and transitions to these highlight reels.

As an election campaigner, Narendra Modi promised sweeping market reforms to revive India's economy and put the country to work. As prime minister, he has dismayed admirers, apparently reverting to the script of the hapless government he defeated.

To some of the economists and business leaders who as his campaign cheerleaders dared to dream of a Thatcherite revolution, he seems not to be listening. Three months after his win, it is dawning on them that their views count for little.

Snapping its two-day winning streak, the benchmark BSE Sensex fell over 30 points in early trade today after industrial production declined to 3.4 per cent in June and retail inflation rose to 7.96 per cent in July.

The 30-share barometer fell by 30.26 points, or 0.11 per cent, to 25,850.51 with power, capital goods, realty, consumer durables and banking sector stocks leading the fall.

Gujarat chief minister Anandiben Patel on Tuesday launched 'SATHI', a software system aimed to improve capacity and skill of government employees.

An official statement said, SATHI, or System of Application of Technology for Human Resources Improvement, as it is known, has been launched for usage in social welfare schemes of the state government.

Market regulator Securities and Exchange Board of India (Sebi) has sought clarifications on the proposed Rs 750-crore initial public offer (IPO) of construction major HCC’s realty arm Lavasa Corporation.

Without disclosing the details of clarifications sought, Sebi has said “clarifications (are) awaited from lead manager” for the proposed public issue.

Stockbrokers, who paid a deposit to become members of Multi Commodity Exchange-Stock Exchange (MCX-SX)'s equity segment, are asking the bourse to return their money, even as volumes in the segment have completely dried up.

They have also written to the Securities and Exchange Board of India (Sebi) on the issue, according to information from two persons familiar with the matter. "The brokers have asked for a refund," said a senior industry official.

With major car players in India introducing compact SUVs, country’s second largest carmaker Hyundai Motor India Limited (HMIL) does not want to be left behind. Hyundai is ‘serious’ about entering the compact SUV segment and studying the market which according to the company is the fastest growing at present.

The compact SUVs already in the market include Ford EcoSport, Renault Duster, Nissan Terrano and Toyota Etios Cross.

State-run BHEL's net profit shrunk to Rs 193.50 crore for the quarter ended June 30, mainly due to drop in sales from power and industry segments. The company had reported a net profit of Rs 465.43 crore during the same period the last financial year, BHEL said.

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