ICICI Bank has reported 8.2 percent decline in profit for Q1 to Rs 2,049 crore from Rs 2,232.35 crore on year-on-year basis. The net interest income of the bank has been increased 8.4 percent to Rs 5,589.84 crore from Rs 5,158.52 crore YoY. During the quarter, the Gross non-performing assets increased 1.40 percent sequentially to Rs 43,147.64 crore as compared to Rs 42,551.54 crore of the previous quarter ended March 31, 2017. Net NPA improved to 4.86 percent from 4.89percent. Read EquityPandit's Technical Analysis on BankNifty

Shikha Sharma has been reappointed by Axis Bank as the Chief Executive Officer and Managing Director for a period of three years till June 2021. The bank has said in a BSE filing that "The Board of Director at its meeting held on 26th July 2017, approved the re-appointment of Smt. Shikha Sharma as the Managing Director & CEO of the Bank for a period of 3 years, w.e.f. 1st June 2018, subject to compliance with the prescribed formalities and receipt of requisite regulatory/statutory approvals." Read EquityPandit's Technical Analysis on BankNifty

On Thursday, Axis Bank has acquired the digital payment company FreeCharge from Snapdeal for Rs 385 crore. It has been an all cash transaction. According to Rajiv Anand, executive director at Axis Bank, "The two boards signed the sale process agreement today." He said that "The Idea behind acquiring FreeCharge was to get access to its 5 crore customer base, leverage its strong brand, use its technology platform and also integrate its quality team." The bank is going to retain FreeCharge's 200 member team that aims to run the digital payment platform as a separate entity. Read EquityPandit's Technical Analysis on BankNifty

On Thursday, the largest car maker of the country Maruti Suzuki, posted a flat profit growth of 4.4 percent to Rs 1,556 crore for June quarter. The company has informed in a BSE filing that the net sales for the quarter increased 16.17 percent to Rs 17,132.4 crore. During June quarter, the company has sold 3,94,571 vehicles including exports of 26,140 units which was 13.2 percent higher than that of last year. According to the company the growth in volumes, favourable product mix, higher non-operating income and cost reduction efforts contributed to rise in profit. It added, "However, costs were impacted by higher commodity prices, and sales promotion and marketing expenses." Read EquityPandit's Technical Analysis on Nifty Auto

A 4,40,000 sq ft centre has been built by Accenture in Bengaluru which is dedicated to showcasing the innovations it has created to global clients who visit the city as the company looks at growing its footprint in digital  offerings. Bhaskar Ghosh, group executive at Accenture Technology Services has said that "Innovation is a huge part of the agenda for us. We are moving from scaled delivery to innovation at scale. The idea of the centre is that any innovation from any of our centres should be available to all our clients." For Accenture, this is the first of its kind centre and it hopes to replicate it in other Indian cities as well. Read EquityPandit's Technical Analysis on Nifty IT

The Punjab National Bank (PNB) and Bajaj Allianz General Insurance have signed an agreement to distribute insurance products through the branches. A joint statement said that under this agreement, Bajaj Allianz General Insurance will offer personal lines of insurance products such as health, personal accident, home, motor and travel along with commercial line of insurance products such as prosperty, marine and engineering insurance, etc to the bank's customers. Sunil Mehta, MD of PNB has said that "Such type of insurance tie-ups leads our 100 million customers to various products under one roof." Read EquityPandit's Technical Analysis on BankNifty

Patanjali Ayurved and Uttarakhand government have decided to associate for promoting organic farming, tourism and producing medicinal herbal plants in the state. Trivendra Singh Rawat, Uttarakhand Chief Minister and Baba Ramdev at a meeting, explored the opportunities for working together in areas including establishing herbal villages, promoting consumption of cereals and setting up a large cowshed in the state. The Chief Minister terming these areas as game changers said that it would be bringing prosperity to the state. He said that his government would not hesitate for taking strong and bold decisions to fulfill the expectation of the people. Read EquityPandit's Technical Analysis on Nifty FMCG

The Steel Authority of India Ltd (SAIL), in 2016-17, supplied 6.20 lakh tonnes of rails to the Indian Railways. Vishnu Deo Sai, Minister of State for Steel has said in a written reply to Rajya Sabha that "Initially for 2016-17, Railways Board placed a bulk indent on SAIL for supply of 6,24,516 tonnes of rails, which was met by SAIL and it supplied 6,20,049 tonnes of rails during 2016-17 to Indian Railways." He further said that "However, the enhanced requirement of Railways i.e; supply of 8.2 lakh tonnes of rails during the year could not be met due to capacity constraints." He added that with the ramping up of the new 1.2 million tonne Universal Rail Mill at Bhilai Steel Plant, SAIL has now capacity to meet additional demand of Indian Railways. Read EquityPandit's Technical Analysis of Indian Stock Mark