Snehal khanna Blog

Revenue rises 7% to Rs 10,314 cr LATEST NEWS : ITC Ltd reported almost 6% rise in net profit at Rs 2,640 cr for the September quarter as against Rs 2,500 crore in year-ago period. Revenue increased 7% to Rs 10,314 crore as compared to Rs 9,661 crore in September 2016. Diversified group ITC Ltd today reported a 5.59 per cent increase in its standalone net profit at Rs 2,639.84 crore for the quarter ended September 2017, riding on lower expenses. The company had posted a net profit of Rs 2,500.03 crore during July-September of 2016, ITC Ltd said in a regulatory filing. Total income during the quarter under review was Rs 10,258.13 crore as against Rs 14,091.96 crore in the year-ago period. The company said total income from operations during the quarter is not comparable with the previous periods due to introduction of GST from July 1. Consequent on introduction of GST, central excise, VAT etc have been replaced by the one unified tax. In accordance with Indian ac...

Ahmed El Sheikh to replace Shivakumar, who will join Aditya Birla group LATEST NEWS : Nearly four years after joining PepsiCo India as its Chairman and Chief Executive Officer, D Shivakumar, 57, has called it quits. The company announced on Monday that Shivakumar would be leaving PepsiCo India on December 31. Leading the company at a time when the Rs 14,000-crore domestic soft-drink market was reeling under a slowdown, Shivakumar, who is called Shiv, would join Aditya Birla group as head, corporate strategy and business development. This is effective January 2018, it is reliably learnt. Aditya Birla group has already internally announced Shivakumar’s appointment, persons in the know said. He would report directly to group Chairman Kumar Mangalam Birla. Sanjeev Chadha, chief executive officer of Asia, Middle East and North Africa (AMENA) sector, PepsiCo, said that Ahmed El Sheikh, senior vice-president and general manager for the company’s Egypt & Jordan regio...

Softbank would in all probability invest in Flipkart and not continue its association with Snapdeal LATEST NEWS :  After five months, countless man hours of deliberation and numerous board meetings, the biggest consolidation in the Indian e-commerce history between Snapdeal and Flipkart has been called off, sources said. Sources added that Softbank would in all probability invest in Flipkart on its own and not continue its association with Snapdeal. The Snapdeal founders Kunal Bahl and Rohit Bansal, as well as early stage investor Nexus Venture Partner and smaller shareholders such as PremjiInvest, had  all along expressed reservations about the deal. While Snapdeal board’s resolution is still to be out, sources said that Softbank, as well as Snapdeal, would come out with a statement announcing that the deal with Flipkart has been called. Sources close to the deal said that the board finally agreed that it would be better for Snapdeal to continue the operation...

It looks like IBM is betting on Vaswani to replicate the success he had with Dell LATEST NEWS :  Suresh Vaswani , who helped build Dell’s IT services arm and led the firm till its sale to Japanese NTT Data, is set to join IBM in August to drive the global technology delivery of the world’s largest computer services firm. Vaswani will replace Peter Lynt, general manager of delivery, solutions and transformation of global technology services, who is set to retire later this month, according to an internal note viewed by Business Standard. He will be based in the US, driving the delivery of services for clients globally. An IBM spokesperson could not comment till the time of going to press while Vaswani was not reachable. It looks like IBM is betting on Vaswani to replicate the success he had with Dell — by pushing higher-value services and offsetting the decline in traditional services. Vaswani had built the services business for Dell in India as its chairman, help...

However, net interest income rises 8% to Rs 5,589 cr LATEST NEWS :     Country's largest private lender ICICI Bank reported 8% dip in net profit at Rs 2,049 crore for quarter ending June 2017 as against Rs 2,232 crore a year ago. However, net interest income rose 8% to Rs 5,589 crore as compared to Rs 5,158 crore in June 2016. Gross NPAs in Q1FY18 were 7.99% versus 7.89% in Q4FY17 and net NPAs were 4.86% in Q1FY18 versus 4.89% in Q4FY17. Net loans to companies whose facilities have been restructured were Rs 2,370 crore as compared to Rs 4,265 crore in March 31, 2017. On Thursday, the lender's stock on BSE closed 1% lower at Rs 307. READ THIS : Official: SSC releases admit cards for 2017 CGL Exam I

It alleged non-implementation of the interconnect user charges (IUC) report has given a huge benefit to them LATEST NEWS  :   In a strong attack on incumbent operators, Reliance Jio has alleged that non-implementation of the interconnect user charges (IUC) report of the Telecom Regulatory Authority of India (TRAI) in 2011 has given a huge benefit of over Rs 100,000 crore to the three major operators in the last five years. In 2011 TRAI had recommended that the IUC charges be cut to half from 20 paisa to Rs 10 paisa and gradually shift to the bill and keep model by 2014 in an affidavit to the Supreme court. Instead of moving to a zero IUC model in 2014  it was only brought down to 14 paisa with the mandate that it will be relooked after three years. Jio says that the three incumbents benefited due to the non-implementation of this recommendation. The surplus recovery that the three incumbent operators have made is based on the net present value (whi...

The revised prices are for ex-showroom Delhi and will vary from state to state Latest news  : Honda Cars India has brought down prices of its models by up to Rs 1.31 lakh with immediate effect to help customers reap GST benefits. The company has cut price of its hatchback Brio by up to Rs 12,279 and that of compact sedan Amaze by up to Rs 14,825. Besides, it has slashed price of Jazz by up to Rs 10,031 and that of its recently launched model WR-V by up to Rs 10,064. Price of mid-sized sedan City has been reduced in the range of Rs 16,510 and Rs 28,005. The BR-V prices will come down by up to Rs 30,387. Its premium SUV CR-V has also seen a price drop of up to Rs 1,31,663. Honda is yet to decide on the revised pricing of Accord Hybrid. The revised prices are for ex-showroom Delhi and will vary from state to state. Read this: GST benefit: Ford India slashes car prices by 4.5%

Latest news : Chinese handset maker Vivo has successfully retained the title sponsorship to the cash-rich twenty-20 tournament, the Indian Premier League (IPL). The company will pay the Board of Control for Cricket in India (BCCI) a total of Rs 2,199 crore over the next five years. The next closest bid was made by Oppo at Rs 1,432 crore for five years. Currently, Oppo holds the Team India sponsorship rights and, interestingly, both Vivo and Oppo are part of the same parent group. The base price for bidding was Rs 600 crore for five years, or Rs 120 crore per year. The new title sponsorship rate is a huge mark-up over what Vivo was paying the BCCI since 2016. The Chinese handset maker came in as the title sponsor in 2016 after global beverage giant Pepsi pulled out of its five-year deal with the BCCI citing the match fixing and betting scam the governing body of cricket and the annual T-20 tournament found themselves embroiled in. While Pepsi was to pay the BCCI Rs 396 crore ...

The OnePlus flagship smartphone has been one of the most anticipated devices of the year Latest news : Chinese smartphone maker OnePlus has launched its flagship OnePlus 5 in India at Rs 32,999 for the base model with 6GB RAM and 64GB storage, and at Rs 37,999 for the 8GB RAM and 128GB storage variant. The smartphone would be made available in the country exclusively through e-commerce site Amazon starting 4:30 pm on June 22. The flagship smartphone has been one of the most anticipated devices of the year so far. The OnePlus 5, coming with better camera, technical specifications and operating system than predecessor OnePlus 3T, but is it all enough to make it the flagship killer? Let’s look at the features and specifications of the smartphone. Read this : Karbonn unveils AI-based smartphone 'Aura Note 2' As confirmed before the official announcement, the OnePlus 5 is powered by Qualcomm Snapdragon 835 processor, which has Snapdragon X16 LTE modem support...

The smartphone is launched with four new Moto Mods Latest news : Extending its Moto Z series, Lenovo-owned Motorola on Thursday launched Moto Z2 Play smartphone for Rs 27,999 in the country.Coming in lunar gray and fine gold colour variants, Moto Z2 Play will be available across all leading mobile stores and Flipkart from June 15. "Smartphone's premium category is growing at the fastest rate in India and Moto is heading in the same direction. Premium category will grow at 28 per cent this year in India and Motorola is focusing on this category," Sudhin Mathur, Managing Director of Motorola India, told IANS. Powered by Octa-core Qualcomm Snapdragon 626 processor, Moto Z2 Play has a 4 GB RAM and 64 GB internal which can be expanded up to 2TB. The device runs on Android 7.1.1 Nougat operating system. The device features a 5.5 Full-HD Super-AMOLED display and a fingerprint sensor which doubles up as home button. Moto Z2 Play sports 12MP rear camera tha...

the charge of Rs 25 is applicable only for withdrawals from SBI Buddy through ATMs. Amid a public outcry in Kerala over a State Bank of India (SBI) announcement levying charges on ATM cash withdrawals from June 1, the largest public lender on Thursday clarified that the charge of Rs 25 is applicable only for withdrawals from SBI Buddy through ATMs. "Rs 25 per transaction charge is applicable only for mobile wallet app SBI Buddy using ATM. This is applicable only for State Bank Buddy customers," the bank said here in a statement. The clarification comes after the SBI in a notification indicated that all ATM withdrawals will be charged a fee of Rs 25, which was later replaced with the corrected notification. READ THIS: Solar power tariff sees unprecedented fall, tumbles to Rs 2.44 a unit The bank said that the number of free withdrawals from ATMs remained unchanged. Jan-Dhan account holders with the SBI can avail of four free withdrawals in a month fr...

PIXI 4 phablet houses speakers enhanced by French software company Arkamys Alcatel on Monday launched an entry-level, six-inch phablet packed with polaroid software for the Indian consumers at Rs 9,100. Following the success of PIXI series, the 4G, VoLTE-enabled PIXI 4 (6) phablet houses speakers enhanced by French software company Arkamys. "Looking at affordability of data packages and availability of video content on demand, we expect growth in 6-inch 4G VoLTE segment. The new PIXI 4 with 6-inch screen will continue the legacy of improvised polaroid software, better movie experience and faster browsing," said Praveen Valecha, Regional Director, Alcatel India, in a statement. Alcatel has recently partnered with Advanced Computers as its offline distribution partner. "The partnership will ensure us to reach more customer base in the market," Valecha added. The device has Android 5.0 Marshmallow, Quad Core 1.0 GHz processor, G sensors and ...

Google is expected to unveil its plans for Android O features and functionality at Google I/O Just days ahead of the its annual developer conference "Google I/O", Google has announced to end the Android "Nougat" Beta and will soon launch Android "O" Beta. "Thank you for your interest in the Android Beta Programme. The beta for Android Nougat has concluded, and all devices that were opted in have been updated to the current public version," Google said in an update to the Android beta website. "If you are still running a beta version of Nougat you may download the latest full OTA image for your device and sideload it. This will not wipe your device. We'll update this site when the Android O Beta Programme begins," the update added. Read this: OnePlus 5 coming next month? Here's all we know about the smartphone so far To date, Google had been providing Beta versions of Android Nougat (versions 7.x) alongsid...

India is one of the world's largest and among the fastest growing smartphone markets Oppo , a Chinese smartphone manufacturer, launched selfie-centric F3 smartphone at Rs 19,999 in India. The Oppo F3 is a trimmed down version of Oppo F3 Plus, which was launch in March with a staggering price tag of Rs 30,990. The selfie-centric smartphone features dual-camera at the front and that is the major selling point of the device. The dual-camera set up at the front sports one 16-megapixel (MP), 1.3-inch sensor, f/2.0 aperture camera and wide-angle 8 MP camera. On the rear, the Oppo F3 Plus sports a 13-megapixel 1.3-inch sensor with phase detection autofocus (PDAF), and LED flash Read this: Infographic: Samsung leads India's smartphone market, followed by Xiaomi On the front, the 16 MP camera allows 76.4-degree scene capturing, which is ideal for normal selfies. However, to capture group selfies and to bring more objects in the frame, the 8 MP shooter at the front spor...

IT major expects process to be concluded by the end of the second quarter Cognizant Technology Solutions has floated a voluntary separation option for its employees at the senior management level, at a time when the company is accelerating its move towards digital technology. This move comes as the company has initiated efforts to trim down its workforce at a larger level this year compared to last year. The Nasdaq-listed company confirmed the development and said that this is part of its overall strategy to accelerate the shift to digital and to deliver high-quality, sustainable growth. Read this: Tata Sons to invest Rs 2,000 crore more in telecom arm Sources in the company have said that the option has been given to top executives, from the associate director to the top level, including board members and vice-presidents. They added that the compensation would depend on the rank and it would be minimum nine months salary. Further, the sources said that talks were go...

The funding, expected to materialise in 3 weeks, to help push firm's banking and finance investments Alibaba-backed online marketplace company Paytm , which is in a rapid expansion mode, is in talks for a fresh round of funding for investment in banking and finance, besides other expansion plans. The company, it is learnt, is looking to raise around Rs 12,000 crore from Japan’s SoftBank, in the single-largest investment in an e-commerce company. The funding, it is believed, could materialise within the next three weeks, though Paytm Founder and Chief Executive Officer Vijay Shekhar Sharma did not comment on it. Read this : Paytm parent One97 set to raise over $1.8 billion from SoftBank: report Paytm, in tie-up with MMTC’s Swiss venture PAMP SA, on Thursday launched a wealth-management platform that allows you to invest in gold for as low as Re 1, in the first such initiative anywhere in the world. It announced the launch of ‘Digital Gold’, a vertical to allow i...

Board approves bonus issue in the ratio of 1:1; standalone net rises 20% on sequential basis Wipro , India's third largest software exporter said fourth quarter profits grew 0.4% to Rs 2,267 crore on revenues of Rs 13,987.5 crore, a jump of 2.6% The Bengaluru-based IT services firm said IT services revenue grew 2.7% over the previous quarter to $1.96 billion. For the fourth quarter, Wipro had projected growth between $1.9 billion-$1.94 billion or 1-2%. Read this: Wipro Q4 results out today: Five key things to watch out for Wipro has forecast its IT services revenue in the first quarter of the fiscal 2018 to be in the range of $1.92 billion to $1.96 billion. “We delivered revenues within the guidance range in our fourth quarter,” said Abidali Z Neemuchwala, Chief Executive Officer of Wipro. “We are confident that the recovery in Energy & Utilities and our demonstrated strength in Digital will help us improve our growth trajectory during the course of the c...

It was after a long gap Maruti came up with a product that was priced well above Rs 1 million mark S-Cross , the most expensive vehicle from Maruti Suzuki, has managed to cross a milestone of 50,000 units in sales. Launched in August 2015, the vehicle had seen an initial phase of weakness due to its pricing and competition from Hyundai’s Creta, launched days before S-Cross. Raed this: Maruti 's new Dzire will roll out on 16 May: What to expect The country’s largest car maker has sold over 46,000 units of S-Cross in domestic market since launch, data with Siam showed. More than 4,000 vehicles have been exported to different destinations. The vehicle, positioned as a crossover, had seen challenges post the launch. Within a couple of months of the launch in August 2015, there was a sizeable discount of up to Rs 90,000 on S-Cross. Maruti admitted it went wrong on pricing of the 1.6 litre vehicle.  When the S-Cross was launched, the 1.6-litre option was priced at Rs 1...

India’s largest information technology (IT) services firm Tata Consultancy Services is likely to report “sustained” growth numbers for the fourth quarter of 2016 financial year continuing the momentum from Q3. After second largest software exporter Infosys’ forecast for a sluggish growth in FY18 at 6.5 to 8.5 per cent, TCS commentary on business will indicate how the Indian IT industry sail through challenges such as protectionism, stricter visa norms in the US and automation. TCS surprised the streets in October-December quarter with nearly 11 per cent growth in net profit to Rs 6,778 crore on a year-on-year basis and 2.9 per cent growth on a sequential basis. Revenues were up by 8.7 per cent at Rs 29,735 crore year-on-year and grew 1.5 per cent quarter-on-quarter. Estimates of key brokerage firms suggest revenue growth of the company should range between 4.4 and 5.4 per cent year-on-year basis, while it is expected to grow between 1.5 to 2 per cent on sequential basis in Q4 in c...