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Business Round-Up In India For The Week Ending August 1


Business news in India was largely dominated by results from some of the major corporates in India. Take a look at the news round-up during the week.

Markets end week lower

Markets were extremely volatile through the week, but managed to close the week lower as Monday's massive fall could not compensate for the gains of Thursday and Friday.

ICICI Bank results surprise positively

Business Round-Up In India For The Week Ending August 1
Results of ICICI Bank offered some cheer to the stock markets as the results were better than expected. The improvement in asset quality came as welcome boost and the shares of ICICI Bank rallied.

PSU Banking stocks rally on capital infusion plans

PSU Banking stocks rallied on Friday after the government said it would infuse fresh capital into public sector banks. Banking shares like Canara Bank, State Bank of India and Bank of Baroda saw a spectacular rally.

PNB Results better than expected

Shares in Punjab National Bank rallied after the bank's asset quality saw a marginal improvement. Hopes that asset quality in the banking sector had peaked offered good support to some of these stocks.

L&T results disappoint

Results of infra major Larsen and Toubro disappointed the markets as net profits fell sharply. The stock may open negatively on Monday .

BNP to acquire Sharekhan

BNP Paribas has said that BNP Paribas SA will acquire 100 per cent in one India's largest broking entity, Sharekhan.

I-T Dept addresses 85 per cent of taxpayers' grievances

Committing to improve the quality of service, the Income Tax Department today said it has addressed 85 per cent of the taxpayers' grievances and is working to improve the systems further.

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