Page 1172 - Business Finance

Market extends gains

Key equity indices extended gains in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 152.69 points or 0.43% at 35,745.19. The Nifty 50 index was up 25.10 points or 0.24% at 10,677.30.

Volvo's truck order intake slips, taking shine off bonus payout

STOCKHOLM (Reuters) - Sweden's Volvo said on Wednesday that its fourth-quarter truck order intake fell by 14 percent to 59,535 trucks, a total below analysts' forecasts, but announced a special dividend after strong cash generation.

Kerala economy is fine: Economic Survey

Kerala's Gross State Domestic Product (GSDP) grew from 6.22 per cent (2016-17) to 7.18 per cent (2017-18), according to the latest Economic Survey presented in the Assembly on Wednesday.

Transrail Celebrates 35 Glorious Years of Engineering Excellence

/ -- Integrated Power Transmission and Distribution Company, Transrail Lighting Limited is celebrating 35 glorious years of being in the business. On the occasion of the coral anniversary, Transrail encouraged its vast pool of employees to come up with an interesting logo for its 35th anniversary. More than 100 employees participated, and the best designed logo was chosen which will be present on all Transrail collaterals for the year. The INR 1,900 crore EPC major, Transrail started with a humble beginning as Transrail Engineering Company (TEC) - a partnership firm, which commenced business with the first Foundation on 132 kV Ode - Anand Transmission Line for Dodsal / GEB. It quickly scaled up and got converted into a private Company in 1986. In the year 1993 one more Company was established under the name of Associate Transrail Structures Limited (ATSL) and the Tower Manufacturing business started. After establishing an impressive performance track record, India's leading civil ...

Malaysia's December exports pick up, boosting trade surplus

KUALA LUMPUR (Reuters) - Malaysia's exports grew better than expected in December, boosting the country's trade surplus as imports dipped sharply from a month earlier, government data showed on Wednesday.

Interim Budget 2019: Govt may increase farm credit target to Rs 12 trn

The agricultural credit flow has increased consistently over the years, exceeding the target set for each fiscal

Andhra Governor lauds state, hits out at Centre

Andhra Pradesh Governor ESL Narasimhan on Wednesday commended the state for its substantial achievements even as he put the blame on the central government for not responding to its financial and infrastructural requests, despite four and half years after bifurcation.Addressing the Andhra Pradesh Legislative Assembly and Council before the budget session, which began on Wednesday, the Governor said, "Countless requests made by the state to the Union government for financial and infrastructural handholding to bring our infant state to a level playing field with its neighbouring States have literally fallen on deaf ears.""Had the centre cooperated, our success rate would have been much better," he said. The Governor said that many of the commitments under 'AP Re-organization Act' remained unfulfilled even after bifurcation of the state in 2014."The shocking decision of union government to take back funds of Rs.350 crore credited to the state exchequer for taking up developmental works ..

Jubilant FoodWorks Q3 net jumps 46.16% to Rs 96.5 crore

Jubilant FoodWorks Wednesday reported 46.16 per cent jump in standalone net profit at Rs 96.5 crore for the quarter ended December 31, 2018, helped by increase in same-store sales growth of Domino's Pizza. Same-store sales growth (SSG) refers to the year-over-year growth in sales for restaurants in operation for two whole years. The company had posted a net profit of Rs 66.02 crore during October-December quarter previous financial year. The company's total income increased by 18.07 per cent to Rs 942.85 crore as against Rs 798.5 crore in the year-ago period, Jubilant FoodWorks said in a BSE filing. Domino's Pizza reported SSG of 14.6 per cent in the quarter under review. Jubilant FoodWorks operates Domino's Pizza and Dunkin' Donuts chains in India. Dunkin' Donuts broke even in the third quarter of 2018-19 on the back of strong growth in the core portfolio of donuts and beverages, as also disciplined cost management, the company said. At present, the company operates 1,200 Domino's ...

Bajaj Auto Q3 profit up 20 pc to Rs 1,220.77 cr

Bajaj Auto Wednesday reported 20.49 per cent increase in consolidated net profit at Rs 1,220.77 crore for December quarter 2018-19, on account of higher sales volume. The company had posted a net profit of Rs 1,013.16 crore in the same quarter of 2017-18. Total income during the reported quarter went up 19.49 per cent to Rs 7,879.34 crore as against Rs 6,595.22 crore in the year-ago period, Bajaj Auto said in a BSE filing. Total sales volume stood at 12,59,828 units, up 26 per cent as against 10,01,469 units in the same quarter of 2017-18, it said. The company's domestic motorcycle sales in the third quarter stood at 6,44,093 units compared to 4,66,431 units in the year-ago period. The Pune-based company said total exports were at 5,24,717 units in the reported quarter as compared to 4,24,915 units in the same period last year, an increase of 23 per cent. Shares of Bajaj Auto were trading 1.32 per cent lower at Rs 2,533 apiece on BSE.

MG Motor India ropes in Adobe to better customer experiences

MG Motor India Wednesday said it has roped in tech major Adobe to provide end-to-end digital solutions platform in India ahead of the launch of its SUV MG Hector. As part of its digital transformation strategy, the company said Adobe will help MG India build and consolidate a common platform, including its brand website, dealer websites, and digital screens. "With the implementation of Adobe Analytics, MG India will leverage insights derived from digital interactions between the brand and its customers across these channels, to further deliver personalised customer experiences," it added. "With the car buying decisions of customers increasingly being influenced by digital media, it is imperative to provide a seamless yet not in-the-face customer experience at all instances during digital customer interaction," MG Motor India President and Managing Director Rajeev Chaba said. With Adobe on board, he said the company can facilitate an experiential customer journey and map and monitor ..

Fed likely to hold rates steady as it navigates data blind spots

WASHINGTON (Reuters) - In the six weeks since a confident U.S. Federal Reserve raised interest rates in response to a "strong" U.S. economy, consumer confidence dropped, wholesale prices weakened, financial markets wobbled and home sales fell.

Ghosn says arrest was result of 'plot and treason': Nikkei

Detained auto tycoon Carlos Ghosn believes his arrest and the charges against him are the result of a "plot and treason" at his former employer Nissan, he told the Nikkei newspaper Wednesday. The Japanese business daily quoted Ghosn as saying he had "no doubt" that the charges against him were motivated by Nissan executives opposed to greater integration of the firm with its French alliance partner Renault. This is the first press interview Ghosn has given since his stunning arrest on November 19 and it was conducted in the Tokyo detention centre where he has languished ever since. The 64-year-old has been denied bail several times, with the court considering him a flight risk and concerned that he could attempt to destroy evidence. But he again stressed that he "won't flee. I will defend (myself)", according to the Nikkei. "All the evidence is with Nissan and Nissan forbids all employees to talk to me," he added. Even his own lawyer has said it is unlikely he will be released before .

Bajaj Auto third-quarter profit jumps nearly 16 percent

(Reuters) - Bajaj Auto Ltd posted a higher profit on Wednesday, exceeding analysts' expectations, as the company sold more motorcycle units during the quarter.

OnePlus best-selling, Samsung led premium smartphone segment in 2018

Samsung led the premium smartphone segment in India in 2018 with 34 per cent share, followed closely by OnePlus at 33 per cent, Counterpoint Research said on Wednesday.

Silver futures surge 0.37% on global cues

Silver futures traded higher by 0.37 per cent at Rs 40,414 per kg Wednesday after speculators raised bets, driven by a firm trend overseas. Silver for delivery in March traded higher by Rs 148, or 0.37 per cent, at Rs 40,414 per kg in a business turnover of 15,495 lots at the Multi Commodity Exchange. In a similar manner, the white metal to be delivered in far-month May, too, rose Rs 132, or 0.32 per cent, to Rs 41,020 per kg in 3,085 lots. Analysts said widening of positions by traders, in sync with a firm trend on global markets for precious metals, influenced silver prices at futures trade here. In the international market, silver traded higher at USD 15.97 an ounce in Singapore Wednesday.

Gold futures up Rs 52 as participants create position

Gold prices rose by Rs 52 to Rs 32,952 per 10 gram in futures trading Wednesday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 52, or 0.16 per cent, to Rs 32,952 per 10 gram, in a business turnover of 5,523 lots. Similarly, the April rate of the precious metal was up by Rs 31, or 0.07 per cent, at Rs 32,984 per 10 gram, with a business volume of 115 lots. Analysts said raising of bets by participants, taking positive cues from global market as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up gold prices at futures trade here. Globally, gold rose 1.01 per cent to trade at USD 1,315.67 an ounce in Singapore.

Ghosn says allegations result of Nissan executives opposing integration plans with Renault

TOKYO (Reuters) - Carlos Ghosn said Nissan executives opposed to his plan for closer ties with automaking partner Renault SA were behind the financial misconduct allegations against him.

Indian Oil Corp third-quarter profit plunges about 91 percent

(Reuters) - Indian Oil Corp Ltd (IOC) reported nearly 91 percent slump in quarterly profit on Wednesday, as a plunge in global crude prices took a toll on margins of oil refiners and marketing companies.

LVMH shares rally after strong annual results

PARIS (Reuters) - LVMH shares surged higher on Wednesday after LVMH struck a "cautiously" confident tone for the year and said sales had picked up in China in the fourth quarter.

UK public inflation expectations fall sharply in January: Citi/YouGov

LONDON (Reuters) - The British public's expectations of future inflation have fallen sharply this month, though uncertainty about the future path of inflation has risen due to the unclear prospects for sterling from the Brexit process, a monthly survey showed.