Page 1184 - Business Finance
Team Lease Services consolidated net profit rises 37.28% in the December 2018 quarter
Sales rise 27.69% to Rs 1172.23 crore
Godrej Consumer Products consolidated net profit declines 1.48% in the December 2018 quarter
Sales rise 3.56% to Rs 2696.42 crore
HCL Technologies consolidated net profit rises 25.54% in the December 2018 quarter
Sales rise 22.56% to Rs 15699.00 crore
Lloyds Steels Industries standalone net profit rises 3150.00% in the December 2018 quarter
Sales decline 4.46% to Rs 35.81 crore
ERIS Lifesciences standalone net profit rises 6.71% in the December 2018 quarter
Sales rise 25.51% to Rs 226.76 crore
Johnson Controls-Hitachi Air Condition. India reports standalone net loss of Rs 7.58 crore in the December 2018 quarter
Sales rise 15.23% to Rs 434.89 crore
Board of Ganesh Holdings approves change in directorate
At meeting held on 29 January 2019
Axis Bank Q3 net profit jumps over two-fold to Rs 1,681cr
Private sector lender 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 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. Gross NPAs (or bad loans), however, worsened to 5.75 per cent of the gross advances, up from 5.28 per cent a year ago. In value terms, the gross NPAs stood at Rs 30,854.67 crore in December quarter as against Rs 25,000.51 crore in the same period previous year. Net bad loans were Rs 12,233.29 crore as against Rs 11,769.49 crore. The bank ...
Axis Bank third-quarter profit beats estimates
(Reuters) - Axis Bank Ltd more than doubled net profit in its last quarter led by former Chief Executive Shikha Sharma, driven by higher interest income and recoveries from written-off accounts.
Punjab govt doubles registration fee of sale deeds
The Punjab government on Tuesday doubled the registration fee of documents related to sale deeds. The decision to increase the registration fee of various documents related to sale deeds was taken at a meeting of the state cabinet presided by Chief Minister Amarinder Singh, an official spokesman said. The fee for all registrable documents except leases has been increased from Rs 200 to Rs 400, while the fee for registration of power of attorney has been hiked from Rs 2,000 to Rs 4,000, he said. He said that the registration fees of all sale deeds except leases of immovable property has been doubled. The Cabinet also passed a proposal of the Local Government Department for release of funds to the tune of Rs 298.75 crore to Urban Local Bodies (ULBs) for infrastructure development under the Urban Environment Improvement Programme (UEIP).
After adoption of kulhads, rlys now gives linen supply order to KVIC
In what comes as a double New Year bonanza for artisans, railways has ordered all its zones to procure linen items from KVIC, days after instructions were issued to Varanasi and Raebareli to use terracotta kulhads from the government organisation in stations to serve tea and other items. Earlier this month, the railways had decided to use locally- produced, environment-savvy terracotta products manufactured by the Khadi and Village Industries Commission (KVIC) like kulhads, glasses and plates for serving catering items to passengers at these two railway stations. In an order issued on January 17 by the Railway Board, railways said that first priority for procurement of linen items - two bedsheets, pillow cover and face towel - should be given to KVIC and then to ACASH- Association of Corporations & Apex Societies of Handlooms. It also stated that only if these two bodies fail to meet the the requirements should the zonal railways approach open market. "Railways would not only ...
Zee Media independent director quits after company 'upheavals'
The massive plunge in Zee Entertainment Enterprises Ltd (ZEEL) stock last week following a media report which said that Zee promoters Essel Group was involved in money laundering has had a fallout in the quick resignation of an independent director of the group company Zee Media Corp.
BSE stock options: Sebi fines Rs 64 lakh on 4 entities
Markets regulator Sebi Tuesday imposed a penalty totalling Rs 64 lakh on four entities for engaging in 'non-genuine' transactions, which created misleading impression of trading in the BSE's stock options segment. Individually, the markets watchdog levied a fine of Rs 21 lakh on Nouvelle Advisory Services, Rs 18 lakh on Mammon Concast, Rs 15 lakh on Mani Heart Care and Rs 10 lakh on GCK Stock, Sebi said in four separate orders. The orders are in line with Sebi's announcement in April 2018 to take action in a phased manner against 14,720 entities for fraudulent trade in illiquid stock options segment. Since October, the regulator passed more than 50 orders against such entities. The Securities and Exchange Board of India (Sebi) conducted an investigation into the trading activity in illiquid stock options on the BSE from April 2014 to September 2015 after observing large-scale reversal of trades in the bourse's stock options segment. The probe found that these four entities were ...
Sensex ends 64 points lower, Nifty settles at 10,652
Uncertainties in the global market and caution ahead of the interim budget kept the major equity indices in a tight range on Tuesday, which lead to both key indices ending on a flat to negative note. Sensex closed 64 points lower.
Stake sale in SE Asia biz will help Tata Steel reduce debt: S&P
S&P Global Ratings Tuesday said Tata Steel's plan to sell majority stake in its Southeast Asia business will help the company reduce debt by about 3 per cent without impacting its business position. As part of its strategic plan to exit non-core markets and focus more on the fast-growing home market, Tata Steel Monday signed an agreement to sell 70 per cent stake each in its two Southeast Asian arms to the HBIS Group of China for around USD 480 million. Tata Steel's wholly owned subsidiary T S Global Holdings signed definitive agreements with HBIS Group to divest majority stake in its South-East Asia business. "We expect the stake sale to bring in cash of USD 327 million and transfer out USD 160 million in debt. This would help reduce debt by about 3 per cent, without having a major impact on Tata Steel's business position," the US-based rating agency said in a statement. The agreement to sell stake will also marginally improve leverage for the domestic steel giant, it said.
Nifty January 2019 futures at steep premium
Turnover in F&O segment falls
IT searches on retail outlets, real estate players
Income Tax (IT) officials on Tuesday searched the premises of popular retail outlets and real estate companies on the suspicion of tax evasion, said an official.
Key barometers settle with modest losses
Key indices ended with modest losses after a volatile session of trade. Selling in Reliance Industries, HDFC twins and L&T put pressure on bourses. Firmness in ITC, TCS and ICICI Bank supported bourses are lower levels.
Quick Wrap: Nifty Energy Index declines 1.28%
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Installation of anti-pollution devices: NGT raps oil companies for failing to deposit 1 cr fine
The National Green Tribunal Tuesday rapped the public sector oil companies for not depositing Rs 1 crore fine with the CPCB for their failure to install anti-pollution vapour recovery systems at fuel stations and warned that their directors would be sent to jail in case of non-compliance or delay. The fine was slapped on public sector oil firms Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited. Vapour recovery device is an instrument to capture displaced vapours that emerge from inside a vehicle's fuel tank when petrol or diesel is dispensed into it. A bench headed by NGT chairperson Justice Adarsh Kumar Goel took exception that despite its September 28, 2018 direction, the order was yet to be complied. It directed that cost imposed by the Central Pollution Control Board (CPCB) has to be deposited within one week. "This is a matter of environment and you are playing with the lives of people. So we will also play with your .