Page 1049 - Business Finance
Shipping Corporation of India standalone net profit rises 119.72% in the December 2018 quarter
Sales rise 22.21% to Rs 1074.87 crore
Mercury Trade Links standalone net profit declines 66.67% in the December 2018 quarter
Reported sales nil
Timken India standalone net profit rises 188.22% in the December 2018 quarter
Sales rise 38.15% to Rs 384.85 crore
India Motor Parts & Accessories standalone net profit rises 12.82% in the December 2018 quarter
Sales decline 0.48% to Rs 130.57 crore
Hardcastle & Waud Mfg Co reports standalone net profit of Rs 0.09 crore in the December 2018 quarter
Sales rise 566.67% to Rs 0.80 crore
Borosil Glass Works standalone net profit rises 15.45% in the December 2018 quarter
Sales rise 44.06% to Rs 113.59 crore
Prime Minister Narendra Modi to Address Business Industry Stalwarts at Fifth Global Business Summit
/ -- Pre-eminent world and industry leaders from across the globe will congregate in New Delhi on February 22-23, 2019 to deliberate on the theme of 'Social, Sustainable, Scalable' 5th edition of The Global Business Summit to highlight dimensions of Purpose Driven Business The fifth Global Business Summit (http://www.et-gbs.com) scheduled to take place in New Delhi on February 22-23, 2019 will see visionaries and business leaders from across the world, including government representatives deliberate on issues related to sustainability, scalability and social change that have now become central to any growth agenda - global, regional or industry specific. Global and Indian speakers from across business, government, academia and media will discuss how economic growth can be achieved by adopting sustainable business practices at a time when the World Bank has issued a dire warning of 'darkening skies' for the world economy. Hon'ble Prime Minister Shri Narendra Modi will be the star ...
Tech Mahindra, KMD renew partnership for another 4 years
Scandinavian IT firm KMD said Thursday it has extended its business partnership with Tech Mahindra for another four years. Under the partnership, Tech Mahindra's services to KMD will include application outsourcing - SAP, Microsoft, testing, application development, application modernisation, ERP implementation, amongst others in a comprehensive "new age delivery portfolio". Tech Mahindra and KMD have been partners for last 12 years in application development, support and implementation area. The renewal is a part of KMD's strategy to expand global delivery set up to address customer need via new age delivery model and co-innovation, KMD said in statement. "We are confident of growing our engagement and delivering value to KMD. This also reinforces our commitment to the Danish market. We will continue to invest in local capabilities to serve the market," Tech Mahindra Head Continental Europe Aloke Palsikar said.
RBI surprises with rate cut; expect 25 bps cut in April: DBS
Singapore-based DBS Group said it expects a further rate cut in April after the RBI's decision to cut key repo rate by 25 bps on Thursday. The Reserve Bank of India's policy panel surprisingly reduced the repo rate, looking past the stickiness in core inflation and impact of an expansionary fiscal policy, said DBS in a commentary. DBS had expected a pause on rates. The wide cushion on real rates vs the region also provided the RBI with sufficient justification, added DBS in the commentary on the RBI cut of the repurchase rate by 25 bps to 6.25 per cent. "We revise our call to include a 25bp cut in April, before rates stabilise," wrote Economist Radhika Rao and Rates Strategist Eugene Leow at DBS Group Research. They noted RBI Governor Shaktikanta Das' remarks that "there is room to cut", saying it suggests "this is not a one and done easing". A sharp revision in the inflation outlook and limited spillover seen from a slippage in fiscal targets, paves the way for a shallow rate-cut ...
Fiat Chrysler shares fall 10 percent after weak 2019 guidance
MILAN (Reuters) - Fiat Chrysler (FCA) shares fell nearly 10 percent on Thursday after the carmaker gave a weaker-than-expected guidance for profits and industrial cash flow at the group this year.
Jindal Stainless to participate in Railways' tender for reconstruction of Pamban Bridge
Jindal Stainless Thursday said it will participate in a tender floated by Indian Railways for reconstruction of Pamban Bridge connecting Rameswaram on Pamban Island to Mandapam railway station on mainland in Tamil Nadu. "Rail Vikas Nigam Ltd , the extended engineering arm of Indian Railways, has included SS 2205 duplex stainless steel grade as an integral component for the fabrication of 4 spans/girders of the new bridge. The company is keen to bid and support Railways in this venture," the company said in a statement. Jindal Stainless Managing Director Abhyuday Jindal said, being a local manufacturer, the company is adept to supply an entire gamut of product range, from lean duplex to super duplex stainless steel. SS 2205 duplex grade of stainless steel has an excellent combination of strength, toughness and corrosion resistance, it added.
Turnover in F&O segment jumps
Nifty February 2019 futures at premium
Bannari Amman Sugars standalone net profit declines 37.44% in the December 2018 quarter
Sales decline 21.39% to Rs 361.86 crore
Kaya reports consolidated net loss of Rs 0.66 crore in the December 2018 quarter
Sales rise 4.61% to Rs 104.96 crore
S H Kelkar & Company consolidated net profit declines 21.33% in the December 2018 quarter
Sales decline 9.68% to Rs 254.51 crore
Chalet Hotels attracts small premium on debut
Shares of Chalet Hotels settle at Rs 290.40 on BSE, a premium of 3.71% over the initial public offer price of Rs 280.
RCom shares fall over 6 pc, group firms also tank
Shares of Reliance Communications fell Thursday, falling over 6 per cent, with group companies also tumbling. RCom stock tumbled 5.29 per cent to close at Rs 5.19 on the BSE. During the day, it tanked 10.40 per cent to Rs 4.91. On the National Stock Exchange, shares plunged 6.36 per cent to close at Rs 5.15. Shares of Reliance Communications recovered on Wednesday after three days of sharp fall, ending nearly 2 per cent higher. On Monday, RCom stock ended nearly 35 per cent lower and fell by another 28.5 per cent the next day after the company decided to opt for insolvency proceedings. Selling was also seen in other group shares Thursday, where Reliance Infrastructure plummeted 28.05 per cent, Reliance Power 21.96 per cent, Reliance Capital plunged 19.17 per cent and Reliance Naval and Engineering Ltd 5.35 per cent on the BSE. "RCom board of directors decides upon implementation of debt resolution plans through NCLT framework," the company had said in a statement on February 1. It is .
BPCL seeks LPG via term deal and spot gasoline in rare move
SINGAPORE (Reuters) - Indian Bharat Petroleum Corp Ltd is seeking liquefied petroleum gas (LPG) through a term contract and gasoline via a spot deal in a rare move as it looks to plug a supply gap, an industry source who tracks oil products said on Thursday.
P&G Hygiene and Health Care net down 5 pc to Rs 124 cr in Oct-Dec
FMCG major Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) Thursday reported a 5.42 per cent decline in profit after tax (PAT) to Rs 124.12 crore in the second quarter ended December 2018. It had posted a PAT of Rs 131.24 crore in the corresponding period last fiscal, PGHHCL said in a regulatory filing. Total income during the quarter stood at Rs 829.73 crore as compared with Rs 711.25 crore in the year-ago quarter, a rise of 16.65 per cent. The company follows July-June fiscal year. PGHHCL said its profit was impacted due to cost inflation and strategic investments on brand building initiatives to accelerate growth. Commenting on the quarterly performance, PGHHCL Managing Director Madhusudan Gopalan said: "We have delivered strong double-digit (sales) growth for the second consecutive quarter this year driven by robust volume growth, category development and execution excellence." He said the company would continue to focus on raising the bar on superiority of products, ...
Good news: RBI rate cut to bring down EMI on home loans
The lowering of key lending rates by the Reserve Bank of India (RBI) on Thursday has come as a pleasant surprise for homebuyers as it can lead to a monthly saving of about Rs 800 in the EMI on a home loan of Rs 50 lakh for 20 years.