Page 1010 - Business Finance
Suprajit Engineering consolidated net profit rises 38.81% in the December 2018 quarter
Sales rise 10.74% to Rs 405.62 crore
Hiring and Production Outlook Improves in Manufacturing: FICCI Survey
Export Outlook Continue to be Affected by Global Demand Factors
Reliance Realty to develop Maharastra's first Smart Fintech Centre
Reliance Realty, a wholly-owned subsidiary of Reliance Communications (RCom), would develop Maharastra's first and largest Smart Fintech Centre in Navi Mumbai.
Kia Motors joins hands with Axis Bank
Kia Motors Monday said it has tied up with Axis Bank for banking and financing solutions. As a part of this agreement, the private sector lender will now offer one-stop banking and financing solutions such as inventory funding, cash credit, auto loans and fast tags to the dealers and customers of Kia Motors. "This partnership with Axis Bank is in line with our endeavours to ensure an enjoyable and hassle-free ownership experience for our customers," Kia Motors India Executive Director and Chief Sales Officer Yong S Kim said in a statement. Axis Bank President and Head, Small and Medium Enterprises, JP Singh said the bank will offer services to the dealers and customers of Kia Motors, by providing solutions for their financing and payment needs, supported via its technology-enabled platform. The bank will offer these services pan India through its 3,964 branches. Kia Motors plans to launch its first model in India later this year.
India Cements Q3 profit falls 79.46% to Rs 3.13 cr
India Cements Monday reported a 79.46 per cent decrease in its standalone net profit at Rs 3.13 crore for the third quarter ended on December 2018. The company has reported a net sales of Rs 15.24 crore for the October-December quarter a year ago, India Cements said in a BSE filing. Its total income during the period under review was up 8.53 per cent at Rs 1,320.57 crore as against Rs 1,216.75 crore of the corresponding quarter last fiscal. India Cements' total expenses stood at Rs 1,317.44 crore as against Rs 1,201.51 crore, up 9.64 per cent. Shares of India Cements were at Rs 77.85 on BSE in afternoon session, down 2.50 per cent from its previous close on BSE.
Atishay Ltd leads losers in 'B' group
NACL Industries Ltd, Almondz Global Securities Ltd, Tainwala Chemicals & Plastics (India) Ltd and Salasar Techno Engineering Ltd are among the other losers in the BSE's 'B' group today, 11 February 2019.
Motherson Sumi turns volatile after earnings announcement
Motherson Sumi Systems was down 0.37% to Rs 134.55 at 14:25 IST on BSE after consolidated net profit rose 6.74% to Rs 389.06 crore on 13.75% increase in net sales to Rs 16,233.65 crore in Q3 December 2018 over Q3 December 2017.
Volumes jump at Eveready Industries India Ltd counter
Eveready Industries India Ltd saw volume of 15.29 lakh shares by 14:14 IST on NSE, a 13.7 fold spurt over two-week average daily volume of 1.12 lakh shares
MTNL seeks claims of up to Rs 500 cr from DoT
Cash-strapped MTNL has approached the Telecom Department seeking claims of about Rs 500 crore, under multiple heads, including rendering of communications services and reimbursement of employees-related payments made, according to a source. A source in Department of Telecom (DoT) said that the claims are spread over the last many years and that the request is currently under examination. "MTNL has raised claims dating back to the year 2000-01 onwards. In all, it has sought about Rs 500 crore on various grounds," the official with knowledge of the matter said. The claims by Mahanagar Telephone Nigam Ltd (MTNL) pertain to telecom facilities provided to the DoT, compensation for retirement benefits given to employees who were originally from the DoT (along with interest), and buildings of the state-owned corporation leased to Telecom Department, amongst others. The settlement of claims is critical for MTNL, which runs monthly salary tab of nearly Rs 180 crore and is yet to pay the wages .
TCS partners with JDA Software on supply chain solutions
Indian IT bellwether Tata Consultancy Services (TCS) on Monday announced a global partnership with JDA Software to build next-generation cognitive solutions to optimise supply chains for customers worldwide.
Board of Octaware Technologies approves change in directorate
At meeting held on 11 February 2019
Capital goods stocks edge lower
Key equity indices hovered in negative zone in mid-afternoon trade. At 14:15 IST, the barometer index, the S&P BSE Sensex, was down 113.26 points or 0.31% at 36,433.22. The Nifty 50 index was down 44.80 points or 0.41% at 10,898.80. Capital goods stocks edged lower.
Max Financial Q3 profit soars 41 pc to Rs 140 cr
Max Financial Services Monday reported a rise of 41 per cent in standalone net profit at Rs 139.89 crore for the third quarter ended December 31, 2018. The company's net profit stood at Rs 99.45 crore in the year-ago quarter. During September quarter 2018-19, the company reported a net loss of Rs 56.33 crore. Total income during the latest quarter rose to Rs 176.57 crore as against Rs 131.43 crore in the same period of the preceding fiscal, the company said in a regulatory filing. Consolidated figures were not given by the company. During the latest quarter, Max Financial acquired 14,170,817 shares of its subsidiary Max Life Insurance Co Ltd(MLIC), from Axis Bank for Rs 162.96 crore, thereby increasing its stake in MLIC from 70.75 per cent to 71.49 per cent, it said in the filing. Stock of the company was trading 2.21 per cent down at Rs 387 on BSE.
Govt's new schemes to focus on promoting exports of electronics: IT Secy
New schemes introduced by the government will focus not only on manufacturing of electronics in India, but also positioning the country as an export hub, a top government official said Monday. Speaking at MAIT's Electronics Manufacturing Summit 2019, Electronics and IT Secretary Ajay Prakash Sawhney said there has been a "widening and deepening" of the electronics manufacturing ecosystem in the country. He added that apart from various brands coming to the country to set up manufacturing base, their supply chain partners have also started participating. "I think we have to focus not just on manufacturing, this time we have to focus on exports. Many of our new policies that will replace the schemes that have run the course, they will focus on exports, we will focus on bringing in supply chain partners..." he said. The official said many multi-national companies are already using their Indian outfits for design and R&D of new products and services, and with electronics manufacturing
Coconics Unveils its First Range of Laptops at the Electronics Manufacturing Summit 2019 in Delhi
/ -- Coconics is a unique public-private Laptop and Server manufacturing company from the State of Kerala Launched three laptop models aimed at Government, Enterprise and Educational institutions Coconics, a recently launched unique public-private Laptop and Server manufacturing company, today unveiled its first range of laptops. The range includes three models. The laptop range is aimed at Government, Enterprise and Educational institutions and will be customized to cater to the varied requirements across sectors. (Logo: https://mma.prnewswire.com/media/820067/Coconics_Logo.jpg ) The three laptop models introduced by Coconics include CC11B, CC11A and C314A. CC11B is an 11 inch tablet cum notebook, with a sleek body, metallic casing and trendy look. This model is easy to carry around and specifically designed for frequent travelers. CC11A is an 11 inch lightweight laptop, designed specifically for the student's community. C314A is a drop and water resistant, 14 inches laptop ...
Dhoot Transmission acquires San Electromec for undisclosed sum
Auto component maker Dhoot Transmission Monday said it has acquired Bengaluru-based wire harness and control panel maker, San Electromec for an undisclosed sum. The Aurangabad-headquartered manufacturer of wiring harness for two-wheelers said the acquisition will help it enhance its portfolio, especially in railways, defence, construction and specialty vehicle segments. The company, however, did not share financial details and the quantum of stake acquired. This is the fourth acquisition by Dhoot Transmission after taking over Parkinson Harness Technology (UK), TFC Cable Assemblies (Scotland) and a JV into automotive switches and controllers with Carling Technologies, US. "With this acquisition, we aim to expand geographically, while adding new capabilities and client markets. It is our endeavour to support the existing San Electromec facility in every way and grow the enterprise as best as we can together," Dhoot Transmission Managing Director, Rahul Dhoot said in a statement. He ...
RBL Bank Ltd down for fifth straight session
RBL Bank Ltd is quoting at Rs 564.8, down 1.41% on the day as on 13:19 IST on the NSE. The stock jumped 16.5% in last one year as compared to a 3.29% rally in NIFTY and a 5.84% spurt in the Nifty Bank index.
Two Wheeler Exports Jump Nearly 20% This Fiscal
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Abu Dhabi's ADNOC seeks to expand downstream investment in Asia
NEW DELHI (Reuters) - Abu Dhabi National Oil Company is seeking to invest in more downstream assets, mainly in refining and petrochemicals, in strategic locations like India to find a stable outlet for its oil, said its chief executive officer, Sultan Ahmed Al Jaber.
Oil prices fall on rising U.S. rig count, Illinois refinery outage
SINGAPORE (Reuters) - Oil prices fell on Monday as drilling activity in the United States picked up and a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit.