Page 116 - Business Finance
Tiger Logistics (India) consolidated net profit declines 60.97% in the March 2019 quarter
Sales rise 0.31% to Rs 97.20 crore
FDI Limit In Defence Sector Should Be Raised To 51%: Study
The increase in FDI limit will bring in the capital for establishing new facilities and scaling up current facilities while benefitting India through large scale job creation, noted the study titled, 'Indian aerospace manufacturing ecosystem,' conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with global advisory services firm BDO.
Bank credit growth eases to 12.71% as on 24 May 2019
Deposits rises 10.09% as on 24 May 2019
Dewan Housing Finance Corporation Ltd leads losers in 'A' group
GAIL (India) Ltd, Reliance Infrastructure Ltd, Shriram Transport Finance Company Ltd and Indiabulls Housing Finance Ltd are among the other losers in the BSE's 'A' group today, 06 June 2019.
Oil & gas stocks slide
Selling frenzy in index pivotals dragged the key indices sharply lower in mid-afternoon trade. At 14:26 IST, the barometer index, the S&P BSE Sensex, was down 598.43 points or 1.49% at 39,485.11. The Nifty 50 index was down 190.30 points or 1.58% at 11,831.35. Investors booked profits after the Reserve Bank of India (RBI) cut repo rate by 25 basis points, in line with market expectations. Oil & gas stocks dropped. Shares of index heavyweight HDFC declined.
Swiss regulators fine banks over forex rigging 'cartels'
Swiss competition authorities said Thursday they had fined five large banks some USD 90 million for collusion in foreign exchange trading, following steep fines recently imposed by Brussels. Barclays, Citigroup, JPMorgan, Japan's MUFG Bank and Royal Bank of Scotland (RBS) were hit with fines totalling around 90 million Swiss francs (USD 90.5 million, 80.6 million euros) after determining that the banks' traders had colluded to fix exchange rates using chat rooms, the Swiss Competition Commission (COMCO) said. The commission said Swiss banking giant UBS was not fined, since it first revealed the collusion to the authorities. "Traders of several internationally active banks have partially coordinated their conduct in two separate cartels," COMCO said in a statement, adding that they had fixed rates for a range of currencies, including US dollars, euros, British pounds and Swiss francs. The first cartel was dubbed the "Three-way banana split" -- after the name of the online chat forum ...
Eros International Media Ltd leads losers in 'B' group
UFO Moviez India Ltd, Himatsingka Seide Ltd, Sintex Plastics Technology Ltd and Chromatic India Ltd are among the other losers in the BSE's 'B' group today, 06 June 2019.
Volumes soar at Himatsingka Seide Ltd counter
Himatsingka Seide Ltd recorded volume of 14.62 lakh shares by 14:19 IST on NSE, a 11.35 times surge over two-week average daily volume of 1.29 lakh shares
Karnataka steel industry body calls for fresh auction on ore mines
Fresh auction of iron mines must be conducted to provide a level-playing field between captive and merchant miners, a Karnataka-based steel and iron ore industry body has demanded. The industry body also claimed that the concerns raised by merchant miners over the possible supply shortage post expiry of mining leases in March 2019 are "baseless" and "unfounded". In a letter to the Prime Minister's Office (PMO), Karnataka Iron and Steel Manufacturers' Association (KISMA) said, "In order to provide a level-playing field between captive and merchant miners, it is crucial that fresh auction of iron ore mines conducted and both be given a fair and equal chance to participate in the auction, considering that of all the iron ore mines allotted till date majority belong to merchant miners." Merchant miners have cited possible shortage of iron in the market post expiry of mining leases in March and have appealed for extension of leases up to 2030, it mentioned. KISMA said the extension as ...
India notifies tax info exchange pact with Marshall Islands
India has notified a tax information exchange agreement (TIEA) with the Marshall Islands, enabling bilateral sharing of banking information and allowing officials of one country to undertake tax examinations in the other, the finance ministry said Thursday. The TIEA for exchange of information with respect to taxes was signed on March 18, 2016 at Majuro, the Capital of the Marshall Islands. India notified the TIEA on May 21, 2019. "The agreement enables exchange of information, including banking and ownership information, between the two countries for tax purposes," a finance ministry statement said. The TIEA is based on international standards of tax transparency and exchange of information and enables sharing of information on request. "The agreement also provides for representatives of one country to undertake tax examinations in the other country," it added. The agreement will enhance mutual cooperation between India and the Marshall Islands by providing an effective framework for
Viaan Industries Ltd associates with Zee TV to present the second season of the country's first-ever interactive live gameshow - 'LagaoBoli'
Viaan Industries Ltd, popular gaming, entertainment and technology company promoted by leading entrepreneur Raj Kundra and celebrity Shilpa Shetty Kundra announce their partnership with Zee TV to air a unique live, interactive game show called 'LagaoBoli'. The format is an exclusive IP of Viaan Industries Ltd and will start airing from 18th August 2019 on Zee TV."LagaoBoli" is a new concept where TV viewers can bid LIVE for a brand new car or other products from the comfort of their home via the LagaoBoli app. The person who places the lowest unique bid will see their picture; name and location live on the TV channel.The bidding rules are such that the lowest unique bid with two decimal places wins the product. The game show will be hosted by Paritosh Tripathi and his crew who entertain the audience with spontaneous wit and humour. As part of the show, Paritosh also interviews celebrities every week. The show premieres on Zee TV at 6 pm on 18th August 2019.The germination of the ...
Pact for exchange of information with Marshall Islands notified
The India-Marshall Islands Tax Information Exchange Agreement (TIEA) was signed on March 18, 2016 at Majuro. It was notified in the Gazette of India (Extraordinary) on May 21 this year, according to a statement.The agreement enables exchange of information, including banking and ownership information, between the two countries for tax purposes. It is based on international standards of tax transparency and exchange of information and enables sharing of information on request.The agreement also provides for representatives of one country to undertake tax examinations in the other country. It will enhance mutual cooperation between India and Marshall Islands by providing an effective framework for exchange of information in tax matters which will help curb tax evasion and tax avoidance..
Prestige Group's Conrad Bengaluru and Sheraton Grand Bengaluru Whitefield win FIABCI World PRIX D'excellence Awards 2019
Two of Bengaluru's most popular hotels - Conrad Bengaluru and Sheraton Grand Bengaluru Whitefield, developed by the Prestige Group - India's biggest developer, were recently awarded the much sought-after and globally celebrated FIABCI World PRIX D'Excellence Awards 2019.A record 35 of the world's best property developments were conferred with the FIABCI World Prix D'Excellence Awards 2019 at a gala and glittering ceremony at Golden Palace in Moscow, Russia, on 31 May 2019. This ceremony was held in conjunction with the convening of the 70th FIABCI World Congress and attended by 400 real estate dignities from all over the world."These excellent property developments are already the best projects in their own respective countries, and they have now won at the international level. This unique award is given to the real estate projects that embody excellence in all disciplines involved in their creation, to make the world a better place to live, work and enjoy", said FIABCI World ...
RBI to issue revised NPA circular in 3-4 days
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the RBI will issue a new circular on non-performing assets (NPAs) in three to four days.
Soybean futures gain on upbeat demand
Soybean prices rose by Rs 24 to Rs 3,673 per quintal in futures trade Thursday on accumulation of bets by traders on firm demand. Marketmen said widening of portfolios by investors taking positive cues from spot market mainly influenced soybean prices. On the National Commodity and Derivatives Exchange, soybean delivery for July contracts advanced by Rs 24, or 0.66 per cent, to Rs 3,673 per quintal with an open interest of 93,960 lots. In a similar way, the delivery of August contracts edged up by Rs 15, or 0.41 per cent, to Rs 3,698 per quintal having an open interest of 15,120 lots.
India-China trade to cross USD 100 billion this year: Envoy
Bilateral trade between India and China is set to cross USD 100 billion this year, India's Ambassador to Beijing said Thursday as he inaugurated an Indian oleoresin extraction firm's 3rd manufacturing facility in the country to expand its business in the Chinese food market. Kochi-based Synthite Industries 46,000 sqm facility at Wucheng county in Dezhou in Shandong province was inaugurated by Indian Ambassador to China Vikram Misri along with local Chinese government officials. The company is said to be the world's largest producer of value added spices and extracts. In his address, Misri said the informal summit between the Prime Minister Narendra Modi and President Xi Jinping in Wuhan last year was a milestone and has been instrumental in taking our relations to a new height. Since then the leaders had met four times on the side-lines of various summits last year. He said the economic and commercial engagement between India and China constitutes a major component of the bilateral ...
Kabsons Industries reports standalone net loss of Rs 0.08 crore in the March 2019 quarter
Sales rise 16.41% to Rs 2.27 crore
Binayaka Tex Processors standalone net profit rises 85.83% in the March 2019 quarter
Sales rise 15.12% to Rs 47.35 crore
Master Chemicals reports standalone net loss of Rs 0.02 crore in the March 2019 quarter
Reported sales nil
Fiberweb (India) standalone net profit declines 72.93% in the March 2019 quarter
Sales decline 43.35% to Rs 37.25 crore