Page 1148 - Business Finance
Dabur India firms up after decent Q3 results
Dabur India rose 2.31% to Rs 440.80 at 15:07 IST on BSE after consolidated net profit rose 10.26% to Rs 367.21 crore on 11.84% increase in net sales to Rs 2,199.21 crore in Q3 December 2018 over Q3 December 2017.
Indiabulls Housing Finance profit jumps 9% in Q3 FY19
Indiabulls Housing Finance Ltd on Thursday announced its profit after tax jumped 8.9 per cent at Rs. 985.5 crore during October to December 2018 compared to Rs 905.3 crore in the corresponding period of previous year.At the same time, the country's second largest housing finance company said its total loan assets moved 16.2 per cent to Rs. 124,271 crore. They totalled Rs. 106,971 crore during Q3 2017-18.Over the past three years, the company has demonstrated the depth of diversified liabilities franchise by moving nimbly across instruments such as securitisation, institutional bonds, retail bonds, external commercial borrowings, masala bonds and bank term loans based on macro conditions around liquidity and interest rates."We are on track to deliver 15 to 16 per cent PAT growth in the current financial year," said Gagan Banga, Vice Chairman and Managing Director. "For the next financial year 2019-20, PAT will grow at between 17 and 19 per cent."The core strategy of company's business .
Microsoft Surface delivered double-digit growth: Satya Nadella
The revenue from Surface laptops increased 39 per cent in the second quarter and the category delivered strong double-digit growth in both consumer and commercial space, Microsoft CEO Satya Nadella has said.
WhatsApp announces 'Startup India-Grand Challenge'
In an effort to encourage entrepreneurs and small businesses in India, Facebook-owned messaging app WhatsApp on Thursday announced the "Startup India-WhatsApp Grand Challenge".
Dewan Housing Finance Corporation Ltd leads losers in 'A' group
Suzlon Energy Ltd, Ajanta Pharma Ltd, IL&FS Transportation Networks Ltd and Max Financial Services Ltd are among the other losers in the BSE's 'A' group today, 31 January 2019.
South Korea to combine world's two biggest shipbuilders in $2 billion deal
SEOUL (Reuters) - Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.
Government still in touch with Centre for early resumption of mining: Parrikar
Eleven months after mining in Goa was banned by the Supreme Court, which in its order had faulted the state government over renewal of mining leases, Chief Minister Manohar Parrikar on Thursday said that his government was still in touch with the Central government for early resumption of mining in "public interest".
Ker Budget; Movie tickets, beer and wine prices to be dearer
: Movie tickets and beer and wine prices are to be hiked and a 'flood cess' slapped in cash-strapped Kerala as the CPI(M)-led LDF government presented its first post-flood budget Thursday in an effort to mobilise additional resources to rebuild the state. As the southern state faced a severe financial crunch, Finance Minister T M Thomas Isaac presented the budget for the 2019-20 fiscal, giving thrust to a massive rebuilding exercise. He proposed 25 new projects to resurrect Kerala after the devastation caused by the deadliest flood of the century last August. "This is a budget for creating a new Kerala," Isaac said stating that Rs 1,000 crore has been earmarked for the 'Rebuild Kerala' initiative in the plan. Seeking to mobilise additional revenue, a 0.25 per cent "flood cess" would be levied on all goods coming under the Fifth schedule, including gold, silver and platinum ornaments on the value of supply, the minister said. "For supply of goods coming within the GST, ...
Unilever's results disappoint as new CEO takes charge
LONDON (Reuters) - Unilever reported lower-than-expected fourth-quarter sales on Thursday, hurt by inflation in Argentina and flat volume growth in developed markets, in its first set of results since new Chief Executive Alan Jope took charge.
Indices extend gains
Key indices extended gains and hit fresh intraday high in mid-afternoon trade. At 14:24 IST, the barometer index, the S&P BSE Sensex, was up 550.32 points or 1.55% at 36,141.57. The Nifty 50 index was up 150 points or 1.41% at 10,801.80. Intraday volatility was high due to the F&O contracts expiry of January 2019 series today, 31 January 2019.
Nu Tek India Ltd leads losers in 'B' group
Sathavahana Ispat Ltd, Sri Adhikari Brothers Television Network Ltd, Amin Tannery Ltd and Krebs Biochemicals & Industries Ltd are among the other losers in the BSE's 'B' group today, 31 January 2019.
World's top two shipbuilders in deal to merge: Seoul
The world's biggest shipbuilder, South Korea's Hyundai Heavy Industries, has reached a deal to acquire a majority stake in ailing number two Daewoo from the government, Seoul said Thursday. The world's top three shipbuilders are South Korean -- Samsung Heavy ranks third -- but the industry has been hammered in recent years by overcapacity and plunging ship prices. Daewoo Shipbuilding & Marine Engineering has struggled in particular and has repeatedly been bailed out by the government to avoid collapse, at a total cost of several billion dollars. Hyundai Heavy itself announced net losses of 633 billion won (USD 569 million) for 2018 on Thursday, blaming higher steel costs and lower demand. But the state-funded Korea Development Bank (KDB), which owns 55.7 per cent of Daewoo, said Hyundai had agreed to take over its stake. Rather than paying cash, the shipbuilder will split itself in two and issue KDB shares in a new holding company that will own Daewoo and most of Hyundai Heavy's ..
Volumes jump at EIH Ltd counter
EIH Ltd witnessed volume of 29.21 lakh shares by 14:14 IST on NSE, a 35.12 times surge over two-week average daily volume of 83182 shares
H&M shares slip as warehouse investment knocks profits
STOCKHOLM (Reuters) - Fashion retailer H&M reported an unexpected fall in quarterly pretax profit on Thursday as it invested in new warehouses to try to capture a bigger share of the fast-growing online market.
Exclusive: PetroChina to drop PDVSA as partner in refinery project - sources
SINGAPORE (Reuters) - PetroChina Co plans to drop Petroleos de Venezuela SA (PDVSA) as a partner in a planned $10 billion oil refinery and petrochemical project in southern China, said three sources familiar with the matter this week.
Sensex trades above 36,000 mark
The market extended gains and hit fresh intraday high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 484.10 points or 1.36% at 36,075.35. The Nifty 50 index was up 128.10 points or 1.20% at 10,779.90. Gains were supported by firmness in Infosys, Reliance Industries, HDFC Bank and HDFC. The Sensex crossed the 36,000 mark.
Thai retailer Central puts USD 200 million into ride-hailing app Grab
Thailand's biggest shopping mall owner, the Central Group, will pour USD 200 million into the Singapore ride-hailing and food delivery firm Grab, the companies said Thursday, as they look to reel in customers now buying everything from food to holidays online. The investment means Central, which is also a major hotelier and supermarket chain whose business interests stretch into Europe, will acquire a non-controlling stake in Grab's Thai entity. Tos Chirathivat, CEO of Central Group and scion of the kingdom's second richest family with a fortune estimated by Forbes of USD 21 billion, said the big buy-in will give his company's stores and hotels access to customers wherever they are. "It (Grab) has built a new platform which consists of food delivery, payment and other services," he said. "So we can link with it. They can sell or buy products at our malls and get them delivered home." He did not reveal how much of Grab's Thai unit he bought with the USD 200 million. Grab is a market ...
Dewan Housing slumps 20 percent after sources say government launches probe
NEW DELHI (Reuters) - Shares of Indian home loan provider Dewan Housing Finance Corp Ltd slumped 20 percent on Thursday, after government sources told Reuters a probe had been launched into allegations of financial mismanagement against the company.
Indonesia set for mega bank shake-up in bid to create national champion
JAKARTA (Reuters) - Indonesia will finalize in May a plan to put four state banks under a holding company, marking the sector's biggest shake-up since the Asian financial crisis as authorities try to create a lending powerhouse in Southeast Asia's biggest economy.
Indonesia president renews pledge to cut corporate taxes if re-elected
JAKARTA (Reuters) - Indonesia's President Joko Widodo has renewed a pledge to cut corporate tax rates in Southeast Asia's biggest economy if he is re-elected in April, an economic adviser said on Thursday, following a similar promise by his election opponent.