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Indian Descent Investment Adviser admits to $9M Facebook Stock Fraud
New York, Aug. Aug 14: An investment adviser of Indian descent has admitted to a $9 million-fraud involving Facebook stock Thursday, the Federal Bureau of Investigation announced.
Gignesh Movalia, the founder of OM Global Investment…
Indian Oil Corp Q1 Net Profit more than doubles to Rs.6,436 cr
New Delhi, Aug 13: State-run oil marketer Indian Oil Corp (IOC) on Thursday reported it has more than doubled its first quarter net profit to Rs.6,436 crore, compared to the Rs.2,522.94 crore earned in the year-ago period, on the back of…
BSE Sensex closes 37 Points up; Nifty ends at 8,376 Points
Mumbai, Aug 13: Positive macro-economic data points increased hopes of a rate cut and buoyed a barometer index of the Indian equity markets to close in the positive territory on Thursday after three days of continued losses this week.…
India will need 1,740 New Airplanes in 20 Years: Boeing
Mumbai, Aug 13: World's leading aircraft manufacturer Boeing on Thursday said it forecast a demand for 1,740 new airplanes worth around $240 billion over the next 20 years in India.
"India's economy and the country's potential for air…
Facebook invests $20 mn in India under FBStart Initiative
New Delhi, Aug 13: Social media platform Facebook on Thursday said that it has given benefits to Indian app developers worth $20 million since 2014 under its FBStart initiative to help them build as well as monetise their apps.
FBStart…
Spectrum Sharing Norms are no Game-Changers
New Delhi, Aug 13: Although spectrum sharing norms approved by the government may help in reducing the menace of call drops in India, the levy of additional usage charge and disallowing trading of airwaves have dampened the mood of telecom…
Hero Cycles founder O.P. Munjal dies in Ludhiana at 86
Chandigarh, Aug 13: O.P. Munjal, founder chairman of bicycle giant Hero Cycles, died in Punjab's Ludhiana city on Thursday, family sources said.
Munjal, 86, was admitted to the Hero Heart Institute at Ludhiana's Dayanand Medical College…
Tata Power Profits fall 5 Percent in First Quarter of 2015-16
Mumbai, Aug 13: Tata Power posted a net profit of Rs.242.42 crore for the first quarter of fiscal 2015-16, a decline of 5 percent in profits from the same quarter in fiscal 2014-15, the company said on Thursday.
According to the audited…
ONGC Q1 Net Profit rises 14 Percent to Rs.5,460 crore
New Delhi, Aug 13: State-run explorer Oil and Natural Gas Corp (ONGC) on Thursday posted a 14.2 percent growth in net profit for the first quarter ended June at Rs.5,460 crore.
The company had recorded a profit of Rs.4,782 crore in the…
India’s Gold Demand falls by 25 Percent in Second Quarter
Chennai, Aug 13: Even though India's gold demand fell by 25 percent during the second quarter of 2015 due to a buoyant stock market and softening of the rural economy, the World Gold Council (WGC) expects the overall demand for the year to…