Page 1039 - Business Finance
Excel Crop Care standalone net profit declines 80.90% in the December 2018 quarter
Sales decline 10.30% to Rs 232.00 crore
AGC Networks consolidated net profit rises 150.85% in the December 2018 quarter
Sales rise 20.73% to Rs 234.69 crore
Emami Ltd eases for fifth straight session
Emami Ltd is quoting at Rs 384.5, down 3.31% on the day as on 13:19 IST on the NSE. The stock jumped 1.49% in last one year as compared to a 4.96% rally in NIFTY and a 12.17% fall in the Nifty FMCG index.
Indiabulls Ventures Ltd sheds more than 4%
Indiabulls Ventures Ltd is quoting at Rs 302, down 4.22% on the day as on 13:19 IST on the NSE. The stock jumped 1.49% in last one year as compared to a 4.96% rally in NIFTY and a 10.48% fall in the Nifty Financial Services index.
Exide Industries Ltd slips for fifth straight session
Exide Industries Ltd is quoting at Rs 211.35, down 3.16% on the day as on 13:19 IST on the NSE. The stock jumped 1.49% in last one year as compared to a 4.96% rally in NIFTY and a 24.77% fall in the Nifty Auto index.
Mahindra & Mahindra quarterly profit falls 11.4 percent on lean demand
(Reuters) - Automaker Mahindra & Mahindra Ltd on Friday posted an 11.4 percent drop in third-quarter profit, as the demand for passenger vehicle sales softened and its MHCV segment came under pressure due to new axle loading norms.
BHEL develops breakthrough indigenous technology for Railways
In a major technological breakthrough, Bharat Heavy Electricals Limited (BHEL) has successfully developed a state-of-the-art regeneration system through in-house research and development efforts for Indian Railways' fleet of conventional electric locomotives.The country's first such regenerative 5000 HP WAG-7 electric locomotive was flagged-off by Ghanshyam Singh, Member Traction and Ex-Officio Secretary at the Ministry of Railways, in the presence of BHEL Chairman and Managing Director Atul Sobti.Directors on the board of BHEL and senior officials from Indian Railways were also present on this occasion at the company's Jhansi plant, said the company in a statement issued on Friday.The idea of developing the energy efficient regeneration system was mooted by Indian Railways and BHEL responded to it by successfully developing the technology in-house, giving an impetus to the 'Make in India' initiative. With this, a new line of business has opened for BHEL and the company has expanded ..
Tamil Nadu budget earmarks Rs 28,757 crore for education sector
The Tamil Nadu government on Friday presented the state budget for fiscal year 2019-20 with revenue deficit expected to come down to Rs 14,315 crore as against the projected figure of Rs 19,319 crore.The budget, presented by Deputy Chief Minister O Panneer Selvam who holds the finance portfolio, announced an allocation of Rs 28,757 crore for school and education department. A new arts and science college will be established at Rameswaram named after former President A P J Abdul Kalam.To strengthen state infrastructure, a sum of Rs 13,606 crore has been allocated for the development of highways and ports. At the same time, Rs 6,256 crore has been earmarked for housing and urban development.A project for sustainable housing for the urban poor has been proposed to the Asian Development Bank at a cost of Rs 5,000 crore.Along with the World Bank, the state government will launch a new initiative to provide accommodation for 38,000 poor people living in Chennai along river banks at a cost ..
Chinese demand boosts L'Oreal cosmetics sales
PARIS (Reuters) - Strong Chinese demand for luxury skin creams helped Lancome owner L'Oreal beat sales forecasts in the fourth quarter, as did a pick-up in its lagging mass market division.
Oil prices slip on economy fears, but OPEC cuts provide backstop
SINGAPORE (Reuters) - Oil markets fell on Friday, pulled down by worries over a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.
Passenger vehicle sales slide 1.87% in January
The passenger vehicle sales downtrend continued in January as high interest cost and financing constraints dented demand.
Chana futures fall 0.19 per cent on muted demand
Chana prices declined 0.19 per cent to Rs 4,268 per quintal in futures trade Friday after participants reduced their exposure amid subdued demand at the spot market. Profit-booking at higher levels also weighed on the sentiment. At the National Commodity and Derivatives Exchange, chana for delivery in March was trading lower by Rs 8, or 0.19 per cent, at Rs 4,268 per quintal with an open interest of 41,780 lots. The far-month June delivery rates also fell by Rs 9, or 0.21 per cent, to Rs 4,351 per quintal with an open interest of 2,920 lots. Traders trimming bets on easing demand in physical market against adequate stocks, mainly led to the fall in chana prices at futures trade here, marketmen said.
Birkin bag maker Hermes says Chinese sales momentum still strong
PARIS (Reuters) - French luxury handbag label Hermes said on Friday that sales momentum in its Chinese stores stayed strong in the fourth quarter, adding to reassuring signals from rivals over enduring demand in one of the industry's biggest markets.
Germany's foreign trade hit a fresh record in 2018
BERLIN (Reuters) - The volume of Germany's foreign trade hit a record in 2018, the Federal Statistics Office said, underlining how exposed Europe's largest economy is to a global trading system that is under threat from protectionism and the threat of a trade war.
TN to tap technology to improve fiscal management: Deputy CM
: The Tamil Nadu government will tap technology and switch over to an integrated financial system to help improve the state's fiscal management, Deputy Chief Minister O Panneerselvam said Friday. The Integrated Financial and Human Resources Management System (IFHRMS), a first of its kind in the country, ensures digitisation of the treasury system, seamlessly integrating it with human resource and budget management, Panneerselvam, who holds the Finance portfolio, said while presenting the budget for the year 2019-20, here. "The government recognises the importance of an efficient tax administration to improve resource mobilisation. I am glad to state that Tamil Nadu is undertaking major e-governance initiatives aimed at improving fiscal management," he said. He said the initiative was formally rolled out by Chief Minister K Palaniswami last month, adding the entire state would fully migrate to IFHRMS by April. Panneerselvam said with the implementation of the system, the
Castor seed prices up by Rs 14 on firm bets
Castor seed prices rose by Rs 14 to Rs 5,150 per quintal in futures trade Friday after investors widened their bets amid firm trends. Marketmen said apart from rising demand from consuming industries, short position of stocks in the spot market mainly led to the rise in castor seed futures. At the National Commodity and Derivatives Exchange, castor seed for March was trading higher by Rs 14, or 0.28 per cent, to Rs 5,150 per quintal, clocking an open interest of 26,390 lots. Castor seed for April edged higher by Rs 18, or 0.35 per cent, to Rs 5,228 per quintal having an open interest of 136,385 lots.
Visa boosts offer for Earthport in battle with Mastercard
(Reuters) - Visa Inc on Friday sweetened its offer for payment company Earthport Plc to about 247 million pounds ($319.84 million), pushing past rival Mastercard Inc's earlier bid and setting up a showdown for the assets.
Jet Airways board meet on Feb 14 to approve Dec quarter results
Jet Airways, which is grappling with acute financial problems, Friday said its board will meet on February 14, to approve the unaudited financial statements for the third quarter and nine months ended December 31, 2018. "The meeting of the board of directors of the company shall be held on February 14, 2019, inter alia, to approve the unaudited financial statements for the third quarter and nine months ended December 31, 2018," Jet Airways said in a filing to the BSE. Shares of the company fell by 2.24 per cent to Rs 231.30 on the BSE. Meanwhile, in a filing to stock exchanges Thursday, Jet Airways said four planes have been grounded due to non-payment of amounts outstanding to lessors under lease agreements. "The company is actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity," it said. Cash-starved Jet Airways has mopped up Rs 250 crore from advance sale of tickets to its customer ...
MRPL posts Rs 268 cr net loss in Q3
Mangalore Refinery and Petrochemicals Friday reported a net loss of Rs 268 crore in December quarter 2018 after refinery margins turned negative. The company logged a profit of Rs 970 crore in October-December 2017-18, as per a company statement. It lost USD 0.64 on turning every barrel of crude oil into fuel in the third quarter of 2018-19 as compared to earning USD 9.27 on turning every barrel of crude oil into fuel in the same period of previous year. In value terms, Mangalore Refinery and Petrochemicals Ltd (MRPL) lost Rs 148 crore in refinery margins as compared to a gain of Rs 1,973 crore in December quarter of 2017-18. Turnover rose 16 per cent to Rs 20,250 crore. Exports were up 54 per cent at Rs 8,852 crore. MRPL processed 4.38 million tonne of crude oil in October-December 2018, down from 4.49 million tonne a year ago. The company posted a profit of Rs 13 crore during April-December 2018 on a turnover of Rs 54,539 crore. It had earned a profit of Rs 1,682 crore in the same ..
Initial Incremental Capital Investment of 8-10% in a Building's Green Development can be Recovered in 2-3 Years due to Large Savings in Energy and Resource Costs: Colliers International India
/ -- CREDAI Bengal, in association with its knowledge partner Colliers International India released a report titled 'Planning the sustainable way: challenges and the road ahead' at the Bengal Global Business Summit, 2019 in Kolkata While sustainability has been taught as the core of urban planning and architecture for years, its widespread adoption is yet to pick up in India. Urban planning in India needs to be a creative and scientific process to meet the enormous goals of upgrading the cities to support the growing population, while providing momentum to support the government's 2015 Smart Cities Mission. India is home to ~1.34 billion people, almost 18% of total mankind, and one of the few countries witnessing urbanization at the rate of +34%. India has shown the inclination to exceed the sustainable targets and has come a long way in implementing the Sustainable Development Goals (SDGs), with a focused policy level thrust by the government. According to Indian Green Building ...