Exim Bank's total business crossed Rs 1,37,774 crore during the year. It reported a 10 percent rise in net profit at Rs 742 crore for the fiscal year 2012-13, up from Rs 675 crore in the previous fiscal.
IT services is expected to be the largest overall spending category at Rs 13,200 crore in 2013, which confirms the strong focus on the financial services sector by IT services providers, many of which are leveraging their prominent position within this domestic market.
Daiichi Sankyo believes that certain former shareholders of Ranbaxy Laboratories concealed and misrepresented critical information concerning the US DOJ and FDA investigations, the Japanese company said in a statement on its website late on Wednesday, referring to the US Department of Justice and the Food and Drug Administration.
Ranbaxy slumped on Thursday after some reports said the Indian government too has initiated an investigation into its past documents and applications and it may face a huge penalty, if found guilty under the Drugs and Cosmetics Act.
Under pressure from the gas producing companies, the UPA government set up the Rangarajan Committee which came up with a formula that would double gas prices from the current USD4.2 per mmBtu (million metric British thermal units) to nearly USD8.8 per mmBtu.
In order to bring down the deficit by nearly Rs 15,000 crore, the finance ministry yesterday decided to change the pricing policy for petrol and diesel from trade parity to export parity. The move is likely to reduce the selling price of fuels and impact the profitability of the already ailing PSU oil marketing companies.
Hemant Kanoria, chairman and managing director of Srei Infrastructure denied being interested in Austria or any other European Union territory when asked by Reuters on May 7 about reports it was eyeing the Hypo unit.
As a result of Mr. Murthy's influence over Ms Roiz, she continued the relationship with him and ultimately, Ms Roiz became pregnant with Mr. Murthy's child, Roiz's lawyer claims. When he discovered this, Mr. Murthy pressured Ms Roiz to have an abortion.
Kotak Institutional Equities has retained its 'Add' rating on Larsen Toubro (LT) despite the company posted poor results. LT also declared a bonus of 1 share for every 2 share held by the shareholders.
Shapoorji Pallonji one of the country's largest developers, has called off its plans to foray into the real estate private equity space, as the company has not been able to raise a corpus of USD 500 million due to a conflict of interest.
Manmohan Singh presented the report card of the UPA government on Wednesday. Expressing his gratitude to Sonia Gandhi, he says Indiaâs international relations have improved, and the government is taking measures to tackle problematic issues.
Puravankara Projects will raise Rs 183 crore by offering 2.15 crore equity shares to institutional investors to meet the SEBI's norm of minimum 25 per cent public shareholding in the private sector listed companies by June.