Page 1167 - Business Finance
TRAI moves plea as Calcutta HC stays February 1 cable switchover plan
The Calcutta High Court Wednesday directed the Additional Solicitor General to explain whether a clause of negotiation between MSOs and LCOs in the Telecom Regulatory Authority of India (TRAI) notification for revenue sharing is illusory or not. The direction came on a TRAI prayer after the court on Tuesday stayed the implementation of its new tariff order and regulatory regime on a prayer by around 80 Local Cable Operators (LCOs). TRAI had unveiled the new tariff order and regulatory regime for the broadcast and cable sector, which would pave the way for consumers to opt for channels they wish to view, and pay only for them. It had said every channel should be offered a la carte, with a transparent display of rates on electronic programme guide. Although TRAI had prescribed a phased roadmap for customer onboarding by players, the pace for the same was sluggish at the beginning. The LCOs, who provide cable television connection to subscribers, claimed that the tariff order was heavily
JSW Energy climbs nearly 6% on Q3 earnings
Shares of JSW Energy jumped nearly 6 per cent on Wednesday after the company reported a threefold jump in its consolidated net profit to Rs 147.08 crore for the December 2018 quarter. The company's stock on the BSE gained 5.68 per cent to close at Rs 67.90. Intra-day, it rallied 8.87 per cent to Rs 69.95. At the National Stock Exchange, shares of the company advanced by 5.68 per cent to close at Rs 67.85 apiece. The company's consolidated net profit for the quarter ended December 31, 2017, was Rs 50.55 crore, JSW Energy said in a regulatory filing. Total income during the quarter was Rs 2,491.79 crore, against Rs 2,081.14 crore in the year-ago period.
Jet Airways denies being told to ground aircraft
(Reuters) - Debt-laden Indian carrier Jet Airways on Wednesday denied its aircraft had been grounded by GE Capital Aviation Services (GECAS), after media reports raised further concerns over the airline's ability to pay dues.
IOC shares drop over 2% after Q3 results
Shares of Indian Oil Corp (IOC) Wednesday fell over 2 per cent after it reported 91 per cent plunge in net profit for the December 2018 quarter. The scrip declined 2.07 per cent to close at Rs 134.65 on the BSE. Intra-day, it dropped 3.49 per cent to Rs 132.70. On the NSE, shares fell by 2.36 per cent to close at Rs 134.10. The company logged a profit of Rs 716.82 crore, or Rs 0.76 per share, in the third quarter of 2018-19, showing a decline of 90.9 per cent year-on-year. In the year-ago period, the profit stood at Rs 7,883.22 crore, the company said in a regulatory filing. The turnover rose to Rs 1.6 lakh crore from Rs 1.32 lakh crore.
AT&T misses phone subscriber estimates amid stiff competition
(Reuters) - AT&T Inc on Wednesday missed Wall Street estimates for net new wireless subscribers who pay a monthly bill, as the company struggled to attract customers in a saturated U.S. phone market.
ICICI Bank Q3 profit down 3% at Rs 1,605 cr
Private sector lender ICICI Bank Wednesday reported 2.7 per cent decline in its standalone net profit to Rs 1,604.91 crore for the third quarter ended December 2018. The bank had registered Rs 1,650 crore net profit in the corresponding October-December quarter of 2017-18. The total income rose to Rs 20,163.25 during the quarter as compared to 16,832.22 crore in the same period a year ago, ICICI Bank said in a statement.
Nifty January 2019 futures at discount
Turnover in F&O segment surges
No ECB? No sweat for euro zone bond markets
LONDON (Reuters) - For euro zone debt markets, life after the end of the European Central Bank's asset-buying buffer may not be that bad after all -- bonds from the bloc's three biggest markets have just enjoyed their best January in three years.
AT&T misses fourth-quarter phone subscriber estimates
(Reuters) - AT&T Inc on Wednesday missed fourth-quarter Wall Street estimates for net new wireless subscribers who pay a monthly bill, as the company struggled to attract customers in a saturated U.S. phone market.
Global stocks steady before Fed as Apple relief offsets Brexit complications
MILAN (Reuters) - World stocks and the dollar steadied on Wednesday ahead of policy guidance from the U.S. Federal Reserve, with Apple results providing relief while market confidence that a no-deal Brexit can be avoided took a hit.
Hexaware net profit rises 2% to Rs 123.4 cr in Dec quarter
Mid-sized IT services firm Hexaware Technologies Wednesday reported a 2 per cent rise in consolidated net profit at Rs 123.4 crore for the December 2018 quarter. The company had posted a net profit of Rs 120.9 crore in the year-ago period, Hexaware said in a statement. Its revenue from operations rose 24.6 per cent to Rs 1,252.4 crore from Rs 1,004.8 crore. Hexaware, which follows the January-December fiscal, said it expects its organic revenue growth to be 12-14 per cent in 2019 with majority of this growth happening in later part of the year. "On the back of strong bookings in 2018 and ongoing strength in client mining, we expect to deliver industry leading organic growth in 2019," Hexaware Technologies Chief Executive Officer and Executive Director R Srikrishna said. For the full year, the company's net profit was up 16.8 per cent to Rs 583.5 crore, while revenue from operations grew 17.9 per cent to Rs 4,647.8 crore as compared to 2017. In dollar terms, Hexaware saw its net profit
Election worries muddy waters for bond investors in India
MUMBAI (Reuters) - Doubts over how India will vote in the coming general election and fears that the government will overspend on persuading people to extend its mandate are keeping investors wary of buying bonds despite the lure of low inflation and possible interest rate cuts.
Anthem beats profit, to launch in-house pharmacy benefit unit early
(Reuters) - Health insurer Anthem Inc announced on Wednesday it was speeding up the launch of its in-house pharmacy benefits management business as it unveiled a better than expected quarterly profit.
China Market falls ahead of US-China talks, Fed decision
All eyes are on a Federal Open Market Committee meeting ending Wednesday. Although the Fed is expected to leave its short-term interest rate unchanged, the nuances of a press conference by Chairman Jerome Powell will be closely watched. Ahead of the start of the two-day FOMC meeting, speculation grew that Fed policymakers would discuss slowing or ending the U.S. central bank's move to shrink its balance sheet.
HCL Tech shares gain nearly 3% post Q3 earnings
Shares of HCL Technologies rose nearly 3 per cent Wednesday after the software services major posted a 19 per cent rise in consolidated net profit during the December 2018 quarter. The company's shares gained 2.82 per cent to close at Rs 1,016 on the BSE. Intra-day, stock jumped 4.72 per cent to Rs 1,034.75. On the NSE, it rose by 2.80 per cent to close at Rs 1,016.20. HCL Technologies Tuesday posted a 19 per cent rise in consolidated net profit at Rs 2,611 crore during the December 2018 quarter and expressed confidence in meeting the higher end of its 9.5-11.5 per cent revenue growth guidance for FY2019. The Noida-based company had registered a net profit of Rs 2,194 crore in the year-ago period. Its revenue grew 22.6 per cent to Rs 15,699 crore in the said quarter from Rs 12,808 crore in the year-ago period, beating street expectations.
Sebi slaps Rs 55 lakh fine on 9 entities for fraudulent trades in stock options
Markets regulator Sebi has imposed a total fine of over Rs 55 lakh on nine entities for fraudulent and manipulative trading in illiquid stock options segment of BSE. A fine of Rs 12.5 lakh was levied on BP Fintrade Private Ltd, Rs 7 lakh on Phool Chand Jain, Rs 6 lakh on Prognosis Securities. Besides, a fine of Rs 5 lakh each was imposed on Benko Traders, Bhavsagar Vyapaar, Pasha Finance, PAT Financial Consultants, Evergreen Technologies and Maa Samleswari Industries, according to separate Sebi orders. The Securities and Exchange Board of India (Sebi) conducted an investigation into the trading activity in illiquid stock options on BSE from April 2014 to September 2015 after observing large-scale reversal of trades in the bourse's stock options segment. The regulator observed that the entities repeatedly bought and sold stock options and executed reversal trades with the same set of entities for same quantity within a short span of time with substantial price difference. The rationale
NTPC net almost flat at Rs 2,385.41 cr, declares interim dividend, bonus shares
State-run power giant NTPC posted a Rs 2,385.41-crore net profit in the December 2018 quarter, almost flat as compared to the year-ago period, mainly on account of higher fuel and borrowing costs. The company board in its meeting on Wednesday has decided to pay interim dividend and issue bonus shares to its shareholders, according to a company statement. The company's standalone net profit was Rs 2,360.81 crore in the corresponding period of the previous fiscal, the statement said. Its total income during the third quarter was Rs 24,308.01 crore, a rise of 15.27 per cent compared with Rs 21,087.84 crore a year ago. During the nine months up to December 2018 also, the company's net profit was nearly flat at Rs 7,399.57 crore, compared with Rs 7,417.58 crore in the year-ago period. During the April-December 2018, NTPC's total income was Rs 69,633.95 crore, an increase of 13.06 per cent as against Rs 61,590.12 crore in the year-ago period. The company has reported a net profit of Rs ...
LIC Housing Finance reports 25.5 pc jump in Q3 profit
LIC Housing Finance Wednesday reported 25.5 per cent jump in December quarter profit at Rs 596.31 crore, mainly due to higher interest income. The company's profit was Rs 475.1 crore during the third quarter of 2017-18. As per a stock exchange filing, the company's total income stood at Rs 4,439.21 crore in the reported quarter. Interest income increased to Rs 4,414.15 crore from Rs 3,586.74 crore in the year-ago period. Total expenses too widened to Rs 3,579.62 crore from Rs 2,907.90 crore in the third quarter of 2017-18. The company's stock closed at Rs 434.15 on BSE, down 4.24 per cent from the previous close.
'India's Most Preferred' Shines a Spotlight on India's Most Favoured B2B Jewellery Brands
/ -- An initiative by UBM India UBM India, India's leading B2B exhibitions organiser, witnessed the 1st edition of its one-of-a-kind initiative, India's Most Preferred (IMP) for the B2B jewellery sector in India. UBM India's busy calendar of events for 2018 concluded with this exclusively crafted campaign, concurrently with the newly launched Mumbai Jewellery and Gem Fair at the Sahara Star in Mumbai. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/814126/IMP_Jewellery_Brands_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/814125/Brands_Felicitated_at_IMP.jpg ) IMP is a due diligence campaign that comprised a nationwide quest for India's most popular and favoured B2B jewellery brands to bestow on them, the exclusive privilege to license the most prestigious IMP logo; a benchmark to understand which brands have a higher mind space amongst stakeholders. The gala show witnessed a televised glamorous evening of style, insights, ...
Hong Kong Market ends higher in volatile trade
All eyes are on a Federal Open Market Committee meeting ending Wednesday. Although the Fed is expected to leave its short-term interest rate unchanged, the nuances of a press conference by Chairman Jerome Powell will be closely watched. Ahead of the start of the two-day FOMC meeting, speculation grew that Fed policymakers would discuss slowing or ending the U.S. central bank's move to shrink its balance sheet.