Page 1174 - Business Finance
Truckmaker Volvo releases brake on special dividend after strong fourth quarter
STOCKHOLM (Reuters) - Swedish truckmaker Volvo said on Wednesday it would pay a special dividend of 5 Swedish crowns ($0.5523) per share after reporting fourth-quarter profit marginally ahead of expectations and repeating its 2019 market demand outlook.
Oil edges up on Venezuela sanctions, but economic outlook weighs
SINGAPORE (Reuters) - Oil prices rose on Wednesday as concerns about supply disruptions following U.S. sanctions on Venezuela's oil industry outweighed pressure from a darkening outlook for the global economy.
Kia Motors Commences Trial Production at its Anantapur Plant in Andhra Pradesh
/ -- Latest stage of production for Kia's new flagship SUV for India Trial production ceremony attended by Honorable Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu; and Korean Ambassador to India, Shin Bongkil Construction of the new 536-acre manufacturing plant in Anantapur, Andhra Pradesh now complete Kia provides new Soul EV to the government of Andhra Pradesh as a part of its Future Mobility Partnership Kia Motors, the world's eighth largest automaker, today commenced trial production at its state-of-the-art manufacturing facility in Anantapur, in the state of Andhra Pradesh. This important step not only signifies the completed construction of the new 536-acre manufacturing facility, but also marks the arrival of Kia's new flagship car for India, the Kia SP2i - an exciting new SUV based on the Kia SP Concept, first showcased at India's Auto Expo 2018. (Photo: https://mma.prnewswire.com/media/814882/Kia_Motors_India.jpg ) The Kia SP2i will bring Kia's exacting ...
Axis Bank shares jump over 6 pc after Q3 results
Shares of Axis Bank Wednesday jumped over 6 per cent to its 52-week high level after the company reported over two-fold jump in its third quarter net profit. The shares of the bank rose by 6.38 per cent to Rs 703 -- its 52-week high -- on BSE. Similarly, at NSE, its shares jumped 6.44 per cent to its 52-week high of Rs 703.35. Axis Bank Tuesday reported over two-fold jump in net profit to Rs 1,680.85 crore for the third quarter ended December 31. The bank had posted a net profit of Rs 726.44 crore in the corresponding period of the previous fiscal. The net interest income grew 18 per cent to Rs 5,604 crore in the third quarter this fiscal. Total income during the quarter under review rose to Rs 18,130.42 crore as against Rs 14,314.63 crore in the year-ago period, Axis Bank said in a regulatory filing. Net non-performing assets (NPAs) stood at 2.36 per cent of the net advances as on December 31, 2018, down from 2.56 per cent by the end of December 2017.
POSCO fourth-quarter operating profit up 10 percent, matches estimates
SEOUL (Reuters) - South Korean steelmaker POSCO's fourth-quarter operating profit rose 10 percent on increased sales and higher profit margins, according to Reuters' calculations, meeting analysts' forecasts.
Ducon Infratechnologies Ltd leads gainers in 'B' group
Rollatainers Ltd, Pitti Engineering Ltd, Uniply Industries Ltd and Manaksia Steels Ltd are among the other gainers in the BSE's 'B' group today, 30 January 2019.
Global Markets: Shares steady on Apple relief as investors eye Fed, U.S.-China talks
TOKYO (Reuters) - Asian equities steadied on Wednesday as investors awaited Federal Reserve policy guidance and the outcome of high level trade talks between the United States and China, while drawing relief from Apple Inc's earnings.
Novartis sees 2019 growth as it sheds eyecare unit, narrows focus
ZURICH (Reuters) - Swiss drugmaker Novartis sees mid-single-digit sales growth from its core businesses in 2019 as it sheds its Alcon eyecare unit and a U.S. generics pills business to focus on newer high-tech drugs.
The latest innovations from Taiwan unveiled at Convergence India 2019
TAITRA (Taiwan External Trade Development Council), the foremost non-profit trade promotion organization in Taiwan, promotes COMPUTEX 2019 and Taiwan Excellence at Convergence India.COMPUTEX has been one of the leading global ICT, IoT, and startup tradeshows with a complete supply chain and IoT ecosystems. Taiwan Excellence, initiated by the Ministry of Economic Affairs (MOEA), honors Taiwan's most innovative products that provide tremendous value to users worldwide.From 29th to 31st of January, COMPUTEX d&i awards and Taiwan Excellence pavilion will witness the best in technology and innovation from Taiwan, exclusively showcased at Pragati Maidan, Hall 10, Booth 52.In sync with global ICT trends, COMPUTEX is moving forward on Building Global Technology Ecosystems. As one of the best ICT shows on the rise, TAITRA is confident to attract more exhibitors from around the world with expanded exhibition space and also to exceed last year's overwhelming number of 42,284 international ...
RPP Infra bags orders worth Rs 252.9 cr
RPP Infra Projects Wednesday said it has received three new orders worth Rs 252.9 crore in the domestic market. "The company has secured an order worth Rs 194.7 crore from the Tiruppur City Municipal Corporation for construction of 12 elevated service reservoirs. The project is expected to be completed within 36 months," RPP Infra Projects said in a regulatory filing. RPP Infra said it has also received a letter of intent (LoI) from state-owned Bharat Heavy Electricals Ltd (BHEL) worth Rs 40.2 crore in Tuticorin, Tamil Nadu, for the fabrication and erection of structural steel for their power house, to be completed within 24 months. The company said the third order is a letter of acceptance (LoA) for its bid to build a storm water drain for the Thoothukudi Smart City in Tamil Nadu, worth Rs 18 crore. RPP Infra said its order book at the end of first half of this fiscal stood at Rs 1,500 crore. Shares of RPP Infra were trading 2.05 per cent higher at Rs 119.50 apiece on BSE.
Thailand's Central plans to invest $200 million in Singapore's Grab
BANGKOK (Reuters) - Thai retailer Central Group plans to acquire a stake in Southeast Asian ride-hailing startup Grab for $200 million, two sources with direct knowledge of the matter told Reuters.
Graphite India Ltd leads gainers in 'A' group
HEG Ltd, Force Motors Ltd, DCM Shriram Ltd and Vakrangee Ltd are among the other gainers in the BSE's 'A' group today, 30 January 2019.
DHFL extends recent decline
Dewan Housing Finance Corporation fell 5.38% to Rs 160.90 at 11:24 IST on BSE even as the company issued clarification after market hours yesterday, 29 January 2019.
Indices sink in negative zone
A bout of volatility was seen in mid-morning trade as the key indices erased intraday gains to sink in negative zone. At 11:15 IST, the barometer index, the S&P BSE Sensex, was down 29.18 points or 0.08% at 35,563.32. The Nifty 50 index was down 17.50 points or 0.16% at 10,634.70. Realty stocks fell.
DCM Shriram reports 19% jump in net revenues
DCM Shriram Limited has reported 19 per cent rise in its net revenues to Rs 2,115 crore during third quarter ending December 31, 2018 from Rs. 1,784 crore in the corresponding period of previous year.The profit after tax rose to Rs. 226 crore, up 6 per cent from Rs. 213 crore. Earning per share was Rs 14.42 compared to Rs. 13.14 in Q3 FY18, the company informed the National Stock Exchange on Wednesday."The company delivered satisfactory performance despite continuing challenges in sugar business and rising input costs in other businesses," said Ajay Shriram, Chairman and Senior Managing Director, and Vikram Shriram, Vice Chairman and Managing Director, in a joint statement."The performance reflects positive results of the initiatives taken over past few years to strengthen cost competitiveness, enhance capacity and capacity utilisation and value add through integration. The rationalisation of bulk fertiliser business is almost over which has released capital for growth initiatives," ..
For US-China trade talks, hopes are high, expectations low
US and Chinese negotiators start two days of high-level talks Wednesday aimed at settling a six-month trade war that has weakened both sides, shaken financial markets and clouded the outlook for the global economy. Yet the odds seem stacked against any substantive resolution this week to the standoff between the world's two biggest economies. Perhaps the best that might be hoped for, analysts say, is for the two sides to agree to keep talking. The differences between Beijing and Washington are vast. The United States is essentially demanding that China downsize its aspiration to become a supreme world leader in such fields as robotics and electric cars. "A comprehensive deal that fundamentally changes their system I don't think that's possible," said Christopher Adams, a former US trade official.
Volumes soar at Nava Bharat Ventures Ltd counter
Nava Bharat Ventures Ltd clocked volume of 5.46 lakh shares by 10:48 IST on BSE, a 8.17 times surge over two-week average daily volume of 66888 shares
HCL Tech gains after Q3 earnings
HCL Technologies rose 2.48% to Rs 1012.65 at 10:53 IST on BSE after consolidated net profit rose 2.8% to Rs 2605 crore on 5.6% increase in revenues to Rs 15699 crore in Q3 December 2018 over Q2 September 2018.
Cook reveals why iPhones not selling in emerging markets like India
Although Apple CEO Tim Cook skipped mentioning India directly during the company's earnings call with analysts, he stressed that there are several factors why iPhone sales are not picking up in the emerging markets.
LG Display warns of panel price weakness as wearables boost Q4 profit
SEOUL (Reuters) - South Korea's LG Display Co Ltd on Wednesday warned of weaker panel prices in the year ahead due to global economic uncertainty and U.S.- China trade tensions, as it posted a jump in quarterly profit thanks to surging sales of wearable screens.