Goindocal news of last 24 hours

SAIL Production Grows 2% in Apr-Dec

Tue, 08 Jan 2013 17:35:58 +0530

Steel Authority of India Ltd (SAIL), the country\'s largest state-owned steel company, reported 2% on-year growth in production of hot metal for the nine-month period of 2012-13.

India Govt OKs 12.5% Disinvestment of RCF

Wed, 26 Dec 2012 21:17:32 +0530

India's Cabinet Committee on Economic Affairs (CECA) on Wednesday approved the disinvestment of 12.5% stake of the Rashtriya Chemicals and Fertilizers Ltd, to raise much needed fund to reduce widening fiscal deficit.

Air India's Market Share Rises to 20.8% in Oct

Wed, 21 Nov 2012 21:02:09 +0530

India's struggling state-owned flagship carrier Air India showed some improvement in market share lately as Kingfisher Airlines struggled to remain in air due to debt burden and staff issues. According to domestic passenger released by Ministry of Civil Aviation, market share of Air India improved from 16.2% in May to 20.8% in October.

Chidambaram Opens IDBI Bank's 1000th Branch in TN

Tue, 20 Nov 2012 22:08:01 +0530

IDBI Bank, India's youngest new generation public sector universal bank, opened its 1000th branch in Kannangudi, Tamil Nadu on Sunday.

India's Steel Major SAIL Q2 Net Rises 12% on-yr to Rs 5.43 bln

Fri, 09 Nov 2012 21:18:33 +0530

India's state-owned Maharatna, Steel Authority of India Ltd (SAIL) reported 12% on-year rise in its profit after tax (PAT) for the July-September quarter at Rs 5.43 billion as against Rs 4.85 billion in corresponding quarter last year.

SBI Q2 Net Profit up 30% on-yr at Rs 36.58 bln

Fri, 09 Nov 2012 13:36:27 +0530

India's largest lender, State Bank of India (SBI) reported 30.18% on-year growth in its net profit for the July-September quarter of fiscal 2012-13 at Rs 36.58 billion as against Rs 28.10 billion in corresponding quarter in a year-ago period.

ONGC Q2 Net Profit Drops 32% on-yr to Rs 58.96 bln

Fri, 09 Nov 2012 13:38:23 +0530

India's state-owned oil & gas producer ONGC Ltd reported net profit at Rs 58.96 billion for July-September quarter, down 31.77% from Rs 86.42 billion in the corresponding quarter a year ago, due to lower average crude oil prices and a higher subsidy burden.

India Govt OKs 10% HAL Stake Sale

Thu, 08 Nov 2012 15:50:03 +0530

India\'s Cabinet Committee on Economic Affairs on Thursday approved the divestment 10% equity in Hindustan Aeronautics Ltd (HAL).This is one of the five PSUs, that government wants to sale some stake to raise proposed Rs 30,000 crore by end of fiscal 2012-13.

IDBI's Net Profit Goes Down by 6.3% to Rs 483 Crore

Wed, 31 Oct 2012 21:00:49 +0530

The Industrial Development Bank of India Limited (IDBI Bank), has reported a 6.3 % fall in its net profit at Rs 483.5 crore for the first quarter April-June of fiscal 2011-12 against Rs 516.89 crore in the same period a year-ago on the back of strong growth in wholesale banking.

NTPC Q2 Net Profit Jumps 30% on-yr to Rs 31.42 bln

Mon, 29 Oct 2012 21:31:32 +0530

India’s largest power generating company, NTPC Ltd reported 29.6% on-year rise in its net profit at Rs 31.42 billion for the July-September quarter (Q2) of FY13 as against Rs 24.24 billion in same quarter a year ago.

GAIL Q2 Net Profit Drops 10% on-yr to Rs 9.85 bln

Mon, 29 Oct 2012 21:26:11 +0530

India's state-owned natural gas distribution company, GAIL (India) Ltd reported 10% on-year drop in its net profit to Rs 9.85 billion for the July-September quarter of financial year 2012-13.

IOB Net Profit Falls by 31 % to Rs 158 Crore

Mon, 29 Oct 2012 23:25:46 +0530

Indian Overseas Bank (IOB), the Chennai based public sector bank, has also posted a fall in net profit like other PSU bank result released. IOB net profit has dropped down by 31 % to Rs 158.43 crore in 2nd quarter of FY 12-13 in compared to Rs 207.46 crore in same period last year.

PNB Net Profit Falls by 13 % to Rs 1065

Mon, 29 Oct 2012 23:27:23 +0530

Punjab National Bank (PNB), the third largest public lender, has announced disappointing quarterly result today. The public sector bank’s net profit has fallen by 13 percent to Rs 1065.58 crore in compared to Rs 1205.03 crore in corresponding quarter last year.

Bank of Baroda Q2 Net Profit Rises 11.6% on-yr to Rs 13 bln

Mon, 22 Oct 2012 17:58:11 +0530

India\'s one of the leading public sector banks, Bank of Baroda (BoB) has reported 11.6% on-year rise in its net profit at Rs 13.01 billion as against Rs 11.67 billion during the corresponding quarter last fiscal.

NABARD Awards for Rural Innovation in New Delhi

Fri, 19 Oct 2012 17:31:20 +0530

NABARD, National bank for agriculture and rural development, has organised the award function to felicitate innovators, who have used science and technology to build ingenious products and processes that are all set to change the face of rural India, yesterday at the New Delhi Municipal Council Convention Centre.

SBI Declines Processing Charges on Home, Auto Loans

Wed, 17 Oct 2012 20:15:54 +0530

The largest bank of Asia, State Bank of India has slashed its processing fee on home loans and car loans by half to beat competitors.

SBI Cuts Fixed Deposit Rates by 50 to 100 bps

Wed, 05 Sep 2012 20:13:01 +0530

India's largest lender, State Bank of India (SBI) announced cut in interest rate on fixed deposits across all maturity period by 50 basis points. Out of 9 maturity period, the 50 bps cut is for 6 maturity period, the bank said in a statement.

SBI signs MoU with the Japan Bank for International Cooperation

Fri, 31 Aug 2012 18:50:03 +0530

India's largest lender, State Bank of India (SBI) signed a memorandum (MOU) with the Japan Bank for International Cooperation (JBIC), for developing and strengthening a framework for supporting the business operations of Japanese small and medium enterprises.

GAIL Signs LNG Supply Agreement With GDF SUEZ

Tue, 28 Aug 2012 21:48:04 +0530

India's state-owned oil and gas major GAIL (India) Ltd has signed LNG supply agreement with GDF SUEZ for supply of 12 cargoes from 2013 to 2014, representing a total of 0.8 million tons.

Coal India Q1 Net Profit Rises 8% on-yr to Rs 44.69 bln

Mon, 13 Aug 2012 21:35:08 +0530

Coal India Ltd, the world's largest coal producer, reported net profit growth of 7.85% on-year for April-June quarter of fiscal 2012-13 at Rs 44.69 billion from Rs 41.4 billion in the year-ago period.

SBI Net Profit Jumps 10% on-yr in Q1, Stock Down 4.26% on Bad Loan

Fri, 10 Aug 2012 22:04:09 +0530

India's largest lender, State Bank of India (SBI) reported 137% on-year growth in its net profit for the April-June quarter of fiscal 2012-13 at Rs 37.52 billion, against Rs 15.83 billion in corresponding quarter in a year-ago period.

Ranbaxy Reports Net Loss of Rs 5.8 bln in Q1on Forex Loss

Thu, 09 Aug 2012 22:22:55 +0530

Ranbaxy Laboratories, India-based leading pharmaceutical company, reporting consolidated net loss of Rs 5.8 billion for the April-June quarter against profit of Rs 2.43 billion in a year ago period, as forex loss due to rupee depreciation inflated exception expenses.

SAIL Q1 Net Profit Drops 24% on-year to Rs 6.96 bln

Mon, 06 Aug 2012 21:40:19 +0530

India's state-owned Maharatna SteelAuthority of India Ltd (SAIL) reported 23.82% drop in its net profit at Rs 6.96 billion for April-June quarter as compared to Rs 8.48 billion in corresponding period last fiscal.

ICICI Bank Q1 Net Profit Beats Estimates, Rises 36% on-year

Fri, 27 Jul 2012 19:01:34 +0530

India's leading private sector lender ICICI Bank reported 36.3% jump in its net profit for April-June quarter of FY13 at Rs 18.15 billion against Rs 13.32 billion in the corresponding quarter a year ago. The bank's profit surged mainly driven by robust loan growth, high fee income and better asset quality.

Punjab National Bank Q1 Net Profit up 13% on-year at Rs 12.46 bln

Fri, 27 Jul 2012 18:56:29 +0530

Punjab National Bank, the second largest public sector lender of India, reported 12.7% on-year growth in its net profit for April-June quarter of fiscal 2012-13 at Rs 12.46 billion as against Rs 11.05 billion in corresponding quarter last year.

ONGC's Jan-Mar Qtr Net Profit Doubles to Rs 56.44 bln

Tue, 29 May 2012 20:58:00 +0530

India's largest oil exploration company Oil & Natural Gas Corporation Ltd's (ONGC) net profit for Jan-Mar quarter of fiscal 2011-12 doubled to at Rs 56.44 billion as compared to Rs 27.91 billion for the quarter ended March 31, 2011.

Bank of Baroda Become 2nd largest PSU Bank of the Country

Sun, 13 May 2012 14:32:52 +0530

Bank of Baroda (BOB) becomes the second largest public sector bank after crossing Punjab National Bank (PNB) in terms of annual profit in FY 12.

Bank of Baroda Q4 FY 12 Net Profit Jumps by 17.49 % to Rs. 1518 crores

Sun, 13 May 2012 14:31:49 +0530

Bank of Baroda (BOB) in terms of oversease branch network has reported net profit of Rs 1518.18 crore for the quarter ended March 31, 2012 with respect to Rs. 1292.35 crore for the same period last year 2011, up by 17.49 %.

Canara Bank Q4 Net Profit Dips by 7.7% to Rs 829 crore

Thu, 10 May 2012 16:15:39 +0530

The Bangalore based Public Sector Bank, Canara Bank's fourth quarter net profit dropped down by 7.7 % to Rs 829.09 crores.

PNB's Net Profit Goes Up by 18.67 % to Rs 1424 crores

Wed, 09 May 2012 16:41:20 +0530

Punjab National Bank (PNB) has reported a marginal growth of 18.67% in its net profit at Rs 1,424.06 crore in the quarter ended March 2012 as agaist the Rs 1200.90 crore in same period last year.

Dena Bank's Net Profit Jumps by 62 % to Rs 255 crore

Tue, 08 May 2012 18:19:40 +0530

Dena Bank has reported a 62 % rise in net profit for the fourth quarter ended March 2012 at Rs 254.79 crore as compared to Rs 157 crore in the year-ago period.

Central Bank of India's Posts Rs 105 crore Loss in Q4 of FY 12

Tue, 08 May 2012 15:47:07 +0530

Central Bank of India has posted Rs 105.23 crore loss in for the quarter ended March 31, 2012 as compared to net profit of Rs. 132.70 crore for the quarter ended March 31, 2011

HDFC's Net Profit Jumps by 16 % to Rs. 13.26 billion

Tue, 08 May 2012 09:04:01 +0530

Housing Development Finance Corporation (HDFC), has reported a 16.11 % rise in net profit for the fourth quarter ended March 31 at Rs13.26 billion as compared to Rs 11.42 billion in the year-ago period.

Andhra Bank's Net Profit Touches to Rs 400 crore

Mon, 07 May 2012 14:31:57 +0530

The South India based PSU Bank, Andhra Bank has posted Rs 399.67 crore net profit for the last quarter of 2011-12.

RBI Plans to Implement Basel-III in Upcoming Six Years in Phases

Mon, 07 May 2012 15:59:02 +0530

Reserve Bank of India has decided to implement the Basel-III norms in phase manner in upcoming six years. It has chalked out plan to implement the Basel-III norms cautious approach to avoid repetition of the 2008 crisis.

Reserve Bank of India has decided to implement the Basel-III norms in phase manner in upcoming six years. It has chalked out plan to implement the Basel-III norms cautious approach t

SBI Drops Down Term Deposit Rates by 25- 100 bps

Mon, 23 Apr 2012 16:07:09 +0530

State Bank of India has slashed retail term deposit rates across various tenors by 25 to 100 basis points with effect from April 24.

Bank of Baroda Reduces Base Rate and BPLR by 25 bps

Sat, 21 Apr 2012 09:33:14 +0530

Bank of Baroda (BoB), India’s largest public sector overseas branch networks operator of India, on Friday has announced that it has decreased Base Rate and BPLR by 25 bps each by 25 bps and .The bank has also reduced its deposit rates by 25 to 50 bps in various maturities.

GAIL�s APGDC Signs PFA with GDF Suez LNG UK for Setting up FSRU in AP

Wed, 18 Apr 2012 15:45:14 +0530

GAIL Gas Limited Signs PFA with GDF Suez LNG UK for setting up FSRU in Andhra Pradesh through its joint venture Andhra Pradesh Gas Distribution Corporation Limited (APGDC).

Govt Approves Air India Turnaround Plan, Rs 40 bln Equity Infusion in FY13

Thu, 12 Apr 2012 18:07:08 +0530

When private airliners are struggling to remain in air due several policy related issues, India's flagship carrier Air India today received a olive branch from Government of India in shape of turnaround plan (TAP).

BHEL Net Jumps by 14.3% to Rs. 68.7 billion

Tue, 03 Apr 2012 14:03:38 +0530

Bharat Heavy Electricals Ltd, the state run company, has announced today that its net profit has gone up by 14.3% to Rs 68.7 billion ($1.35 billion) for the fiscal year ended on March, 31 2012.

Coal India Misses FY12 Production Target, Achieves 453.84 MTs and Aims 470 MTs in FY13

Tue, 03 Apr 2012 13:33:22 +0530

The world's largest coal producer, Coal India Ltd (CIL) reported marginal 1% on-year growth in production at 435.84 Million Tonnes (MTs) for fiscal 2011-12.

Air India's FRP Approves by Consortium of Banks Led by SBI

Sun, 01 Apr 2012 11:27:31 +0530

Debt deadlock ends for Air India as consortium of banks led by SBI has approved its Financial Restructuring Plan (FRP) yesterday

SBI Allows Conversion of Home Loan at New Rates

Wed, 21 Mar 2012 10:45:31 +0530

State Bank of India (SBI), the largest bank of Asia, has allowed existing home loan borrowers to opt a lower interest rate through conversion of their loan.

NBCC Fixes IPO in Price Band of Rs 90-106, Aims to Raise Rs 1.27 bln

Tue, 20 Mar 2012 17:12:33 +0530

India's Minister of Urban Development (MoUD), Kamal Nath said Tuesday that the government has fixed the price band of Rs 90-106 a share for the initial public offer (IPO) of State-run National Buildings Construction Corporation (NBCC).

98% PSU Banks Fully Computerized: Survey

Thu, 15 Mar 2012 17:57:17 +0530

After decades of meaningful but slow approach, Indian banking system is on verge of achieving the milestone of 100% computerization very soon. According to Economic Survey 2011-12, in total 98% of public sector bank branches have been fully computerized.

PSU Bank's Priority Sector Lending up 19% in FY12: Survey

Thu, 15 Mar 2012 16:35:45 +0530

Economic servey: Credit Disbursement to Agri Sector Exceed Target by 19 % and Over 127 Lakh New Farmers Benefitted through banking inclusion.

Indian Railways Apr-Feb Earnings up 10.17% on-year

Thu, 08 Mar 2012 11:40:47 +0530

Indian Railways—under the Ministry of Railways, reported 10.17 % jump in its total earning to Rs 929.85 billion in first 11-months (April-February) period of fiscal 2011-12 as compared to Rs 844.02 billion in same period last fiscal.

Divestment: Govt Fails to Decide on ONGC, BHEL Stake Sale, to Meet Again

Wed, 15 Feb 2012 15:19:26 +0530

The Empowered Group of Ministers (EGoM) has decided to exercise the option of pursuing the auction route for disinvestment in Oil and Natural Gas Corporation (ONGC) and Bharat Heavy Electricals Limited (BHEL).

State Bank of India Q3 net profit up 15% at Rs 32.63 bln

Mon, 13 Feb 2012 15:14:12 +0530

India's largest bank, State Bank of India (SBI) reported 15.38% growth in its net profit at Rs 32.63 billion for the October-December (Q3) of fiscal 2011-12 as against Rs 28.28 billion in corresponding quarter of last fiscal.

ONGC Dec Qtr Net Profit Drops 5% to Rs 67.41 bln, Royalty Income Rs 31 bln

Wed, 08 Feb 2012 17:46:10 +0530

India's largest oil exploration and production company Oil and Natural Gas Corporation Ltd (ONGC) reported 4.82% drop in its net profit at Rs 67.41 billion for the October-December quarter of fiscal 2011-12 as compared to Rs 70.83 billion in the corresponding quarter last fiscal, the company said on Wednesday.