July 21: Through the camera lens
July 21: Through the camera lens
Kashmiri people perform transactions at a bank in Srinagar
Private sector lender Kotak Mahindra Bank on Thursday posted a 27% growth in June quarter consolidated net profit led by higher loan growth and better asset quality.
The bank said its net profit in the June quarter rose to Rs 416 crore from Rs 328 crore a year ago. Its net interest income (NII) grew to Rs 920 crore from Rs 725 crore a year ago.
Kotak, in which private equity Warburg Pincus LLC holds more than 9%, said its net interest margin, a key gauge of profitability, for the quarter-ended June fell to 5% from 5.4% a year ago.
A worker cleans a Hero Honda logo inside its showroom in HyderabadHero Honda Motors, India's largest motorcycle maker, on Thursday posted a better-than-expected 13% rise in quarterly net profit, driven by strong demand and volume growth.
The company reported net profit of Rs 558 crore ($125.5 million) for the first quarter ended June, compared with Rs 492 crore a year earlier. Net sales rose to Rs 5,638 crore from Rs 4,265 crore.
The Porsche logo is displayed during the second media day of the 80th Geneva Car Show at the Palexpo in Geneva
German sportscar maker Porsche could revive the classic two-seater race car 550 Spyder that would be cheaper than the Boxster, chief cxecutive Matthias Mueller told a German newspaper.
"I can imagine that such a modern version of the famous James Dean Porsche would be well-received by our customers," daily Handelsblatt cited Mueller as saying in an interview published on Thursday.
A man walks towards the Google China headquarters in Beijing
Google Inc has held preliminary talks about buying wireless developer InterDigital Inc, the Wall Street Journal said on Thursday, citing people familiar with the matter.
On Tuesday InterDigital had said its board was evaluating strategic alternatives, including a possible sale of the company or of its patents.
The announcement came weeks after a rival consortium of technology giants acquired Nortel Networks' thousands of patents for $4.5 billion.Google had made the initial bid for Nortel's assets but lost out to a group comprising Apple, Research In Motion, Microsoft Corp, EMC Corp, Ericsson and Sony.
InterDigital holds and licenses around 8,800 mostly telecommunications patents that range from basic wireless system designs and processes to increase network coverage, to saving battery life and the efficient use of bandwidth.
A vendor exchanges money with a customer at a shop selling garlic, onions and potatoes at a wholesale market in Mumbai
India's food price index rose 7.58% and the fuel price index climbed 11.89% in the year to July 9, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 8.31% and 11.89%, respectively.
The primary articles price index was up 11.13%, compared with an annual rise of 11.58% a week earlier.
The Reserve Bank of India (RBI) is expected to raise its key policy rate by a further 25 basis points next week after inflation accelerated in June and may hike once more by the end of the year, before pausing its long tightening campaign, the latest Reuters poll showed on Wednesday.
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