Page 1135 - Business Finance
Jet Airways accepts Etihad's bailout terms, says report; shares rise
NEW DELHI (Reuters) - Jet Airways Ltd has agreed to most conditions set by shareholder Etihad Airways for offering a lifeline to the debt-laden Indian carrier, the Business Standard newspaper said, sending Jet's shares soaring as much as 18 percent on Friday.
Vedanta slumps after weak Q3 numbers
Vedanta fell 16.66% to Rs 164.60 at 10:51 IST on BSE after consolidated net profit fell 21.06% to Rs 1,574 crore on 2.84% decrease in net sales to Rs 23,669 crore in Q3 December 2018 over Q3 December 2017.
Escorts tractor sales up 12.7% at 5,991 units in Jan
Farm equipment manufacturer Escorts Agri Machinery Friday reported 12.7 per cent increase in tractor sales at 5,991 units in January. The company had sold 5,316 units in January 2018. Domestic tractor sales during last month stood at 5,762 units as against 5,160 units in January 2018, up 11.7 per cent, Escorts said in a BSE filing. Exports last month grew to 229 units compared with 156 units sold in January 2018.
Global Markets: Asian shares go flat as China data disappoints
SYDNEY (Reuters) - Asian shares crept back from four-month highs on Friday as a dismal survey on Chinese factory activity dulled optimism about the prospects for a Sino-U.S. deal on tariffs.
Rs 13,000 crore assets attached already, how far will this go: Asks Vijay Mallya
Fugitive liquor baron Vijay Mallya on Friday took to Twitter to complain about how every morning he wakes up to "yet another attachment by the Debt Recovery Tribunal (DRT) officer" and that already Rs 13,000 crore of his assets had been attached, against the Rs 9,000 crore owed by him.He wondered "how far will this go and well beyond" and whether it was "justified".Mallya, 63, who fled to India in March 2016, tweeted, "The DRT Recovery Officer recently attaches my group assets worth over Rs 13,000 crore in India on behalf of the Consortium of Banks. Yet the narrative is that I ran away with the claimed amount of Rs 9000 crore causing loss to the Public Sector Banks. Where is justice or fair play?"He added, "Every morning I wake up to yet another attachment by the DRT Recovery Officer. Value already crossed Rs 13,000 crore. Banks claim dues including all interest of Rs 9,000 crore which is subject to review. How far will this go and well beyond? Justified?"Mallya said that banks had ...
Positive market breadth
Key benchmark indices are trading with modest gains in morning trade. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 168.34 points or 0.46% at 36,425.03. The Nifty 50 index was up 45.40 points or 0.42% at 10,876.35. Investors are awaiting the interim budget to be announced today, 1 February 2019.
India factory activity unexpectedly accelerates in January - PMI
BENGALURU (Reuters) - Indian manufacturing activity unexpectedly accelerated in January, helped by a strong increase in domestic demand and production, according to a private survey that also showed a marginal rise in inflationary pressure.
Sensex gains 170 points in early trading ahead of the Budget
Scrips opened on a firm note on Friday ahead of the interim Union Budget with the Sensex gaining over 170 points.At 10:00 am, the S&P BSE Sensex was up 170 points at 36,426. The Nifty 50 was also ruling 48 points higher at 10,879.Bharti Airtel, Hero Motorcorp and Bajaj Finance were trading higher but Vedanta tumbled 18 per cent.Banking stocks including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra also gained.In currency markets, the Indian rupee opened higher at 71 per dollar against the previous close 71.08.Meanwhile, Asian indices were mostly showing gains on the back of flows into equities.
MoS Railways expects more investment
Minister of State for Railways Manoj Sinha on Friday morning said that he was expecting more investment in railways from the Interim Budget for 2019-20, which Finance Minister Piyush Goyal will present in the Lok Sabha at 11 am."The way the Central government has increased the investment in railways, from installing CCTV cameras to Wi-Fi, I believe investment in railways will certainly be increased," Sinha told ANI.Railways capital expenditure for the year 2018-19 had been pegged at Rs 1,48,528 crore. A large part of the Capex was devoted to capacity creation. As many as 4,000 kilometers of electrified railway network was slated for commissioning during 2017-18. There was provision for adequate number of rolling stock-12,000 wagons, 5,160 coaches and approximately 7,00 locomotives were to be procured during 2018-19. Over 3600-km of track renewal was targeted during the current fiscal.
Vedanta slumps 20 percent on worries about Cairn India investment
(Reuters) - Shares of Indian miner Vedanta Ltd slumped about 20 percent on Friday to a 30-month low in heavy trade, on concerns about one of its transactions in the third quarter.
NCC bags orders worth Rs 4089.7 crore in January
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Australia Market modestly higher
Local share market commenced trading with firm footing today, following the mostly positive cues overnight from Wall Street amid upbeat corporate earnings results and on optimism about U.S.-China trade talks. However, most of the earlier gains steamed out after a private survey showed that China's manufacturing activity contracted more than expected in January, reinforcing fears of a slowdown in the world's second-largest economy. Investors are also cautious as they look ahead to the U.S. jobs data for January due later in the day.
Tamil Nadu Petro Products announces change in directorate
With effect from 31 January 2019
Bharti Airtel firms up after Q3 results
Bharti Airtel rose 2.33% to Rs 314.30 at 9:43 IST on BSE after consolidated net profit fell 71.81% to Rs 86.20 crore on 0.99% increase in net sales to Rs 20,519.20 crore in Q3 December 2018 over Q3 December 2017.
Amazon logs $72.4 bn revenue, annual sales cross $200 bn
Fuelled by the growth in its Cloud arm, Amazon Web Services (AWS) and advertising business, Amazon's revenue hit $72.4 billion in the fourth quarter that ended December 31 -- up 20 per cent from the same period a year ago.
Sensex, Nifty steady ahead of budget presentation
MUMBAI/BENGALURU (Reuters) - India's financial markets were steady on Friday morning as traders remained on the sidelines, awaiting details on the extent to which the government will spend on populist measures in a pre-election budget due later in the day.
Escorts tractor sales grow 12.7% in Jan 2019
Domestic tractor sales in January 2019 at 5,762 tractors registering a growth of 11.7% against 5,160 tractors in January 2018. Export for the month of January 2019 at 229 tractors registering a growth of 46.8% as against 156 tractors sold in January 2018.
Market drifts higher in early trade
Trading for the day began on a positive note. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 112.87 points or 0.31% at 36,369.56. The Nifty 50 index was up 31.05 points or 0.29% at 10,862. Investors are awaiting the interim budget to be announced today, 1 February 2019.
Vedanta Ltd Slips 19.09%, S&P BSE Metal index Shed 4.9%
Vedanta Ltd has lost 17.24% over last one month compared to 8.15% fall in S&P BSE Metal index and 1.27% rise in the SENSEX
Hero MotoCorp Ltd Surges 2.03%, S&P BSE Auto index Gains 1.05%
Hero MotoCorp Ltd has lost 12.51% over last one month compared to 7.04% fall in S&P BSE Auto index and 1.32% rise in the SENSEX