TopNews

Mumbai - The benchmark Sensex gained 289.83 points to reclaim 29,000 mark and Nifty jumped 94 points to end above 8,800 level Friday on stellar SBI earnings, rising hopes of a pro-growth budget and positive global cues.

Logging their fourth successive session of gains, benchmark indices wrapped up the week in style after ending in the red for the preceding two weeks.

Shares of FMCG, healthcare, banking, auto and metal sectors were the major gainers of the day.

Country's largest public sector lender SBI today reported over 30 percent jump in net profit December quarter. Its shares zoomed nearly 8 percent, adding about 86 points alone to Sensex's 289.83 point surge.

New Delhi - Bharat Petroleum Corporation Limited (BPCL) on Friday reported a net profit of Rs 551.16 crore for the December quarter on the back of full compensation for losses on fuel sales.

The company had reported a net loss of Rs 1,088.94 crore in the corresponding period of previous fiscal, BPCL said in a regulatory filing.

The government paid Rs 1,079.92 crore in cash subsidy while upstream oil producers like ONGC extended an assistance of Rs 2,332.88 crore to make up for all the losses that the firm had incurred on selling domestic LPG and PDS kerosene at rates lower than cost.

BPCL earned USD 1.54 on turning every barrel of crude oil into fuel in the quarter as compared to a gross refining margin of USD 1.76 per barrel in third quarter of previous fiscal.

Mumbai - Home-grown auto major Mahindra & Mahindra on Friday reported a consolidated net profit of Rs 930.32 crore for the third quarter ended December 31, 2014.

M&M had posted a consolidated net profit of Rs 1,230 crore in the same period last fiscal.

Its revenue stood at 18,371.91 crore in the latest quarter, as against 20,679.92 crore in the same period last fiscal, the company said in a regulatory filing.

The company said the figures are not comparable from the year-ago levels due to the merger of its associate companies.

Mumbai - Reliance Infrastructure has signed an agreement with US-based Innovari on expanding Automated Demand Side Management (ADSM).

The MoU, inked during US President Barack Obama's visit to India, will reduce power purchase for Reliance Infrastructure and ensure reduction in carbon footprints for consumers, Reliance Infrastructure said in a BSE filing.

"This further extends the existing strong business relationship between Reliance Group and companies from the United States such as Caterpillar, Bucyrus, Atlas Copco, Forst Solar, etc in areas of solar power, power generation equipment, LNG imports, coal mining, and entertainment," Group President, Corporate Affairs, A Sethuraman said.

Mumbai - Improvement in asset quality and high interest income pushed State Bank of India's net profit in December quarter by 30 percent to Rs 2,910 crore, boosting the shares of country's largest lender by 6.8 percent.

The bank had reported a net profit of Rs 2,234 crore in the October-December quarter of previous fiscal, SBI said in a statement.

The gross non-performing assets (NPAs) as a percentage of total advances came down to 4.90 percent at the end of third quarter from 5.73 percent in the year-ago period while net NPAs stood at 2.80 percent.

During the quarter, the net interest income increased by 9.20 percent to Rs 13,777 crore as against Rs 12,616 crore in the October-December period of last fiscal.

New Delhi - Having taken India to World Cup glory in 1983 by his all-round performance, Mohinder Amarnath feels the current side lacks "genuine" all-rounders and the bowlers are trying to bowl too quick instead of focussing on line and length.

"In one-day cricket all-rounders make a lot of Difference. And in this team I don't see any genuine all-rounders. See when we play in India or the sub-continent then the conditions are to our liking, so probably anybody can bat, so it doesn't mean you become a genuine all-rounder," Amarnath told PTI in an exclusive interview on the sidelines of a 'Royal Stag Barrel Select Perfect Strokes' event, here.