MUMBAI State Bank of India (SBI) posted quarterly results that indicated the nation's lenders may see a slower build-up of bad loans, but questions remain on how quickly and smoothly they can get rid of $146 billion of such debt that has already piled up.
MUMBAI ICICI Bank Ltd on Friday reported a bigger-than-expected 34 percent fall in second-quarter profit partly due to a smaller gain from the sale of a stake in a business, but bad loans remained stable.
MUMBAI HDFC Bank Ltd, India's second-biggest lender by assets, made a record quarterly profit from higher interest and fee income and said retail and wholesale lending was growing.
BENGALURU/MUMBAI Vishal Sikka, the chief executive brought in to turn around India's Infosys three years ago, resigned on Friday, blaming a "continuous drumbeat of distractions" and a long-running row with the founders over company strategy. | Video
* India's Infosys' chairman says there will be no change to
our buyback plan
NEW DELHI/BENGALURU Hindustan Petroleum Corp plans to buy low-sulphur oil from the United States in the next few months for its 166,000 barrel per day (bpd) Vizag refinery in southern India, company executives said on Friday.
The NSE Nifty edged up on Wednesday, hovering near the 10,000-point mark it breached for the first time in the previous session, with stocks such as Vedanta Ltd gaining on solid quarterly results.
MUMBAI Central Depository Services (India) Ltd soared some 80 percent its debut on Friday, as investors flocked to a firm that has just one rival to compete with and robust earnings prospects as the nation's equity markets rack up new highs.
MUMBAI/BENGALURU Reliance Communications' balance sheet troubles, which have wiped off more than a third of its value this month, have thrown into sharp relief the squeeze afflicting India's telecoms sector: fickle users, wafer-thin margins and crippling debt.
BANGALORE/MUMBAI Tech Mahindra Ltd, India's fifth-largest software service provider, posted a lower-than-expected fourth-quarter consolidated profit on Friday, weighed down by weak margins and higher cost of services.