Page 1151 - Business Finance
Asian slowdown in fourth quarter spoils the picture for Swatch Group
ZURICH (Reuters) - Swatch Group said business slowed in the last three months of 2018 hit by a downturn in Asia and weak sales in France, leading it to post lower-than-expected results for the full year.
Thermax opens manufacturing facility in Andhra
Thermax Limited, a leading energy and environment solutions provider, on Thursday inaugurated its new manufacturing facility in Andhra Pradesh's Sri City.
ICICI Bank case: Srikrishna committee report vindicated CBI's stand
The report prepared by the Srikrishna committee which was tasked to investigate allegations of violation of regulations against ICICI Bank CEO Chanda Kochhar, has vindicated the CBI's stand in the case, said a CBI source.The premier probe agency will take cognisance of the submitted report and conduct further investigation on the same, the CBI source added.In its report, the Justice (retired) BN Srikrishna Committee has found that Chanda Kochhar worked in violation of the ICICI Bank's Code of Conduct. The report, which was discussed in the ICICI Bank board meeting on Wednesday, found Kochhar's role in violation of the bank's "framework for dealing with conflict of interest and fiduciary duties, and in terms of applicable Indian laws, rules and regulations".The much-awaited report on the role of Kochhar in the Rs 3,250-crore loan given to Videocon was submitted on Wednesday, following which the firm decided to take back bonuses paid to her since 2009. Kochhar, however, has said that ...
Venkys (India) Ltd leads gainers in 'A' group
EIH Ltd, Avanti Feeds Ltd, HEG Ltd and Graphite India Ltd are among the other gainers in the BSE's 'A' group today, 31 January 2019.
Prospects for Budget 2019 (IANS Budget Exclusive)
Lets start with the facts. While developing economies lose momentum, Indias momentum seems to tell another story:
Crude oil futures soften by 0.46 pc
Crude oil futures declined by 0.46 per cent to Rs 3,888 per barrel as speculators cut bets to take profits off the table despite strong global cues. At the Multi Commodity Exchange, crude oil for delivery in February contracts fell by Rs 18, or 0.46 per cent, to Rs 3,888 per barrel with a business turnover of 14,041 lots. Analysts said domestic sentiments turned weak despite oil prices rose in global markets and on account of profit-booking by speculators at current levels. However, globally, West Texas Intermediate (WTI) crude oil strengthened by 0.70 per cent to USD 54.61 a barrel, while Brent, the international benchmark, rose 0.86 per cent to USD 62.23 a barrel.
Nifty, Sensex gain on upbeat macro indicators; IT stocks climb
(Reuters) - Indian shares rose on Thursday, in line with broader Asian markets as a dovish stance by the U.S. Federal Reserve boosted sentiment, while gains in ICICI Bank Ltd lifted both indexes after the lender posted an improvement in asset quality.
Indiabulls Housing Fin Q3 net profit falls 14% to Rs 985.51 cr
Indiabulls Housing Finance Thursday reported a 13.72 per cent fall in consolidated net profit at Rs 985.51 crore for December 2018 quarter. The company had posted a net profit of Rs 1,142.32 crore in the corresponding quarter of the previous fiscal. Total income grew 7.20 per cent to Rs 4,480.21 crore during the quarter under review from Rs 4,179.01 crore in the year-ago period, Indiabulls Housing Finance said in a BSE filing. Indiabulls Housing Finance said during the quarter ended December 31, 2017, the company had sold approximately one-third of its stake in OakNorth Holdings for Rs 767.78 crore and recorded a one-time gain on sale of investments of Rs 542.44 crore. Gross non-performing asset (NPA) stood at 0.79 per cent of total advances in the quarter under review. The board of directors of the company also authorised it to issue secured non-convertible debentures and unsecured non-convertible debentures, in the nature of subordinate debt up to Rs 25,000 crore and Rs 1,000 crore,
Thermax inaugurates its state-of-the-art manufacturing facility at Sri City, Andhra
Constructed on a 40-acre plot in the Domestic Tariff Zone at Sri City with an investment of Rs. 166 crore (23 Mn USD) in Phase I, the unit has a capacity to produce 400 machines per year.
Sensex regains 36,000
Strong buying demand in index pivotals propelled the key benchmark indices to intraday high in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 416.29 points or 1.17% at 36,007.54. The Nifty 50 index was up 102.15 points or 0.96% at 10,753.95. The Sensex regained the psychological 36,000 mark. IT stocks gained.
Board of Indiabulls Housing Finance approves fund raising up to Rs 26k cr
At meeting held on 31 January 2019
EIH spurts after good Q3 numbers
EIH rose 12.53% to Rs 202.45 at 11:07 IST on BSE after net profit rose 49.80% to Rs 63.89 crore on 22.61% rise in net sales to Rs 443.92 crore in Q3 December 2018 over Q3 December 2017.
NTPC gains after Q3 earnings
NTPC rose 1.12% to Rs 140.35 at 10:57 IST on BSE after net profit rose 1% to Rs 2385.41 crore on 16.1% increase in net sales to Rs 24,120.36 crore in Q3 December 2018 over Q3 December 2017.
Volumes jump at EIH Ltd counter
EIH Ltd witnessed volume of 1.1 lakh shares by 10:48 IST on BSE, a 11.67 times surge over two-week average daily volume of 9392 shares
Domestic gold demand dips 1.40% to 760.4 t in '18; up 4%
Higher prices and some government measures among other negatives pulled down domestic gold demand by a marginal 1.40 per cent to 760.4 tonne in 2018, while global consumption inched up 4 per cent, according to the annual report from the World Gold Council. The council attributed the marginal decline in domestic demand to fewer auspicious wedding days, higher price volatility and various transparency measures implemented by the government. In 2017, the country consumed 771.2 tonne gold, which declined to 760.4 tonne in 2018, the WGC said in its annual report Thursday. On the other hand, the council said global demand rose 4 per cent to 4,345.1 tonne in 2018 mainly driven by the central banks in the second half of the year. In 2017, global consumption had stood at 4,159.9 tonne. Various central banks bought 74 per cent more gold, adding 651.5 tonne more to their official gold reserves in 2018, compared to 374.8 tonne in 2017, the report said. Given the forthcoming ...
South Korea shipbuilder Hyundai Heavy eyes stake in rival Daewoo - source
SEOUL (Reuters) - South Korea's Hyundai Heavy, the world's biggest shipbuilding group, is interested in buying into second-ranked Daewoo, a person with direct knowledge of the matter said, in what could create an entity controlling over 20 percent of the global market.
Thailand's Central Group confirms $200 million investment in Grab's local unit
BANGKOK (Reuters) - TksThailand's Central Group, the country's largest retail conglomorate, confirmed on Thursday it will invest $200 million in a local entity of Singapore-based ride-hailing application Grab.
ICICI Bank shares rise on board decision to revoke ex-CEO Chanda Kochhar's financial entitlements
(Reuters) - Shares of ICICI Bank Ltd gained nearly 3 percent on Thursday, a day after the private sector lender posted an improvement in asset quality and an investigation found former chief executive Chanda Kochhar had violated internal bank policies.
Tesla CFO Deepak Ahuja quits, shares tank
After Tesla reported $139 million profit for the fourth quarter of 2018, generating a record $7.2 billion in revenue, its Founder and CEO Elon Musk dropped a bomb, saying the company's Indian-origin Chief Financial Officer Deepak Ahuja will be retiring.
Positive market breadth
Stocks held onto gains in morning trade after an initial upmove. At 10:23 IST, the barometer index, the S&P BSE Sensex, was up 206.97 points or 0.58% at 35,798.22. The Nifty 50 index was up 49.35 points or 0.46% at 10,701.15.