Page 1029 - Business Finance
Board of Balkrishna Industries approves change in directorate
At meeting held on 08 February 2019
Wall Street set to drop at open as trade worries persist
(Reuters) - Wall Street was set for a lower opening on Friday, as a lack of progress on the U.S.-China trade talks ahead of a looming deadline added to investor nerves over slowing global growth.
FAO Food Price Index started the new year on firmer ground
FAO Food Price Index rises 1.8% in January 2019
Board of Polygenta Technologies approves change in directorate
At meeting held on 08 February 2019
Board of KRBL approves to challenge demand raised by IT dept
At meeting held on 08 February 2019
Invest in fixed deposits to override market volatilities
For most investors, SIPs have been at the forefront of their investment portfolio. Investors who are averse to risk, and looking to accrue high returns depend on SIPs and their power of compounding the rupee.However, off late, investors' hopes have been dimming due to the bleak returns that SIPs have garnered from the market. According to a report by NJ Wealth, SIP investors have been seen losing in 78 of 137 equity mutual fund schemes. Moreover, their average loss for 2 years has been calculated to be 1.5%.Are stocks heading south?Your mutual fund investment, whether in the form of SIPs or as a lump sum, is played across a range of stocks as per the type of fund you choose. The mutual fund expert or fund house distributes your money in such a way that you get every penny's worth directly from the stock market. Moreover, they take into consideration any and all market dips to buy extra units for your investment. However, the volatility of the stock market has not boded well for SIP ...
EaseMyTrip offers amazing discounts during Valentine's
EaseMyTrip.com, a leading travel company of India, has launched great discounts on hotels on the eve of Valentine's Day.The company is offering a discount of up to 40% on selected hotel properties. To avail discounts, customers have to apply coupon code 'EMTLOVE' on hotel bookings done from 6th to 10th February. The stay period for this offer is between 13th and 17th February 2019.A customer can avail a maximum discount of Rs. 5000 on a booking. The offer is valid for bookings done on EaseMyTrip's website, Mobile site, Android & iOS App. The offer is not only limited to couples.Easy Trip Planners Pvt. Ltd. (EaseMyTrip.com), the brainchild of Pitti brothers - Rikant & Nishant, was founded in May 2008. It is a dark-horse in the highly competitive online travel market. Over the period EaseMyTrip.com has evolved as a trusted brand in India's fast-growing travel industry.The company's business model is uniquely poised to tap the growing Online Travel Market where customers can book
Cochin Shipyard Q3 profit up 14 pc to Rs 130 cr
State-owned Cochin Shipyard Friday reported 14 per cent increase in net profit to Rs 129.72 crore for December quarter. The company had clocked a net profit of Rs 113.76 crore in the third quarter of 2017-18. Its total income for the latest quarter rose 15 per cent to Rs 766.15 crore as against Rs 666.04 crore in the same period last fiscal. Total expenses surged to Rs 569.21 crore in December quarter as against Rs 489.98 crore a year ago. Cochin Shipyard is one of the leading shipbuilding and repair companies in India, which claims to have an infrastructure that combines economy, scale, and flexibility. Incorporated in 1972, the company can build and repair the largest vessels in the country.
Investors' wealth plunges Rs 1.67 lakh cr as stocks tumble
Investors' wealth Friday eroded by Rs 1.67 lakh crore following a sharp sell-off in the broader market where the BSE index plummeted nearly 425 points. The 30-share Sensex cracked 424.61 points, or 1.15 per cent, to close at 36,546.48. Following the weak sentiment, the market capitalisation of BSE- listed companies dropped Rs 1,67,594.92 crore to Rs 1,41,07,190.48 crore. "Market slid as renewed worries over global trade and profit booking in the domestic market after the solid performance in the last one week due to interim budget and RBI policy," Vinod Nair, head of research, Geojit Financial Services Ltd said. From the 30-share pack, 25 stocks ended with losses where Tata Motors took the steepest hit of 17.28 per cent. Sectorally, the BSE metal index plunged 3.42 per cent, while the auto gauge shed 3.37 per cent. On the BSE, 1,616 stocks declined and 923 advanced, while 111 remained unchanged. Also, 321 stocks hit their 52-week low.
Smartworks consolidates leadership in Delhi NCR with two new centres
Smartworks, India's leading provider of agile workspaces, today announced the leasing of two new facilities in Delhi NCR; one on Delhi-Noida Expressway and the other in Gurugram. The two new centers span more than 3 lakh sq. ft. in total with a combined seating capacity of 6500 seats, providing impetus to the company's aggressive expansion plans. With these new spaces, Smartworks has increased its footprint in Delhi NCR to over 4 lakh sq. ft. spread across 6 centres.The Delhi-Noida Expressway center is a one of its kind state-of-the-art campus which will provide recreational facilities, F&B services, and a fitness center among other amenities. The two facilities are already 40% pre-booked showing the robust demand for agile workspaces. The two new centers boast top-of-the-line global systems like productivity-driven and tech-enabled workspaces as well as biophilic architecture.Members also have the option of configuring office spaces to stimulate greater employee productivity and .
Corrected: World's largest wealth fund to press firms for climate data at AGMs
(Corrects Feb. 7 article to show, in fourth paragraph, that a temperature rise of 2°C is equivalent to 3.6°F, not 35.6°F)
GST on residential properties likely to be reduced
A ministerial panel set up to look into GST-related issues of the real estate sector on Friday indicated that it would recommend taxing under-construction residential properties at 5 per cent, down from 12 per cent currently.
JK Lakshmi Cement Q3 net profit rises 71.7 pc to Rs 14.75 cr
JK Lakshmi Cement Friday reported 71.71 per cent increase in standalone net profit to Rs 14.75 crore for the third quarter ended December 31, helped by volume growth. The company had posted a net profit of Rs 8.59 crore in the October-December quarter a year ago, JK Lakshmi Cement (JKLC) said in a BSE filing. Its total income during the quarter under review was up 11.34 per cent at Rs 948.70 crore as against Rs 852.03 crore in the corresponding quarter previous fiscal. JK Lakshmi Cement reported 9 per cent volume growth during the quarter. "The company has been facing pressure of increased Pet Coke and diesel prices," said Whole-time Director of JKLC Shailendra Chouksey. "There has been softening in Pet Coke prices in recent times which will however get reflected in coming quarters," he added. JK Lakshmi Cement total expenses stood at Rs 928.93 crore compared to Rs 839.31 crore, up 10.67 per cent. Shares of JK Lakshmi Cement Ltd on Friday settled at Rs 300.10 on BSE, down 2.42 per ...
HC to examine issue of banks sharing customers' PAN data with credit rating agencies
The Delhi High Court Friday sought response of the Centre and the RBI on a PIL seeking to stop banks from sharing PAN and financial transaction data of clients with credit rating agencies without their formal consent. A bench of Chief Justice Rajendra Menon and Justice V K Rao issued notice to the Ministry of Finance and the Reserve Bank of India, seeking their stand on the plea. The plea claimed that sharing of a customer's Permanent Account Number (PAN) and other transactions with credit rating agencies like Transunion CIBIL Ltd affects the person's right to privacy. According to the petitioner, Abhijit Mishra, banks use the credit reports given by agencies like CIBIL to decide whether to grant loans, issue credit cards and even fix the rate of interest to be charged. The plea, filed through advocate Payal Bahl, Mishra has contended that the Central Board of Direct Taxes (CBDT) has not issued any notification regarding sharing of customers' PAN and other transaction details by the ..
Reliance buys additional stake in Future101, Genesis Colors
Billionaire Mukesh Ambani-led Reliance Industries has raised its stake in luxury apparel firms Future101 Design and Genesis Colors to strengthen its foothold in retail industry. Reliance Brands Ltd (RBL), a unit of RIL, "has acquired a further stake of 2.5 per cent in Future101 Design Pvt Ltd on February 7, 2019, for a consideration of Rs 1.99 crore, taking its total stake in Future101 to 15 per cent," the company said in a regulatory filing. Also, Reliance Retail Ventures Ltd (RRVL), a separate subsidiary of the company, acquired a further stake of 9.44 per cent in Genesis Colors Ltd (GCL), for Rs 45 crore taking its total stake in GCL to 29.07 per cent on the enhanced capital. "Consequently, the stake of RBL in GCL shall be 43.66 per cent and the aggregate equity shareholding of RRVL and RBL in GCL stands at 72.73 per cent," it said. Reliance said the acquisitions will help it to strengthen its foothold in the retail industry and support its long-term strategy to enhance its value ..
RBI Eases Norms For FPI Investment In Corporate Bonds
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Darkening 'global economic skies' pull world stocks lower
LONDON (Reuters) - Global stocks fell for a third straight day on Friday, and were set for their first weekly loss in seven, as investors worried about a broadening global economic slowdown and the lack of any sign of a resolution to the U.S.-China trade row.
Hasbro suffers as lack of Disney Princess movie adds to Toys "R" Us woes
(Reuters) - Toymaker Hasbro Inc missed estimates for quarterly profit on Friday as the absence of a major Disney movie release compounded its struggles to recover sales lost from the collapse of retailer Toys "R" Us, sending its shares down 10 percent.
Bharti Airtel unit to merge with Telkom Kenya
NAIROBI (Reuters) - India's Bharti Airtel said on Friday its unit Airtel Networks Kenya Ltd has agreed to merge with Telkom Kenya Ltd, the East African nation's smallest telecom operator.
NHPC net profit plunges 73 pc to Rs 182 cr in Q3
State-owned hydro power giant NHPC reported 73.51 per cent decline in its standalone net profit to Rs 182.18 crore in the quarter ended December 31, on lower revenues. The standalone net profit stood at Rs 687.93 crore in the same quarter previous fiscal, the comapny said in a statement. The company's total revenues came down to Rs 1,691.22 crore in third quarter from Rs 2,066.11 crore a year ago, the statement said. In April-December period, the company's net profit also came down to Rs 2,138.26 crore from Rs 2,569.23 crore in same period last fiscal. During the nine months its revenues also declined to Rs 6,899.71 crore from Rs 6,988.87 crore a year ago. The company's net profit was Rs 2,758.65 crore in 2017-18. Besides approving results, the company board also approved interim dividend at the rate of 7.10 per cent (Rs 0.71 per equity share) on the face value of paid-up equity shares of 10 each for 2018-19. The Board has fixed February 20, 2019 as the record date for ascertaining ...