Page 119 - Business Finance
6Degree launches its maiden multi-designer store in Bengaluru called 'Closet'
6Degree, one of India's biggest fashion platforms announces the launch of its maiden flagship multi-designer store 'Closet' in HSR Layout, Bengaluru on June 7, 2019.Led by Amit Bhardwaj and Nikhil Hegde, 6Degree has till date launched over 50 designer labels in premium and reputed fashion weeks like - Lakme Fashion Week and FDCI's India Fashion Week.The Closet also has an online shoppable platform which hosts many leading designers from the industry like Papa Don't Preach by Shubhika, Rocky S, Rabani and Rakha and many more. In its first maiden multi-designer store, it will showcase an array of range from Indian, Indo western to the bridal collection.The fashion-conscious denizens of Bengaluru can shop from a wide range of ensembles by Ajay Kumar, Jayanthi Ballal, Nikasha, Megha Jain Madan, Jyoti Kashmiri, AOM Couture, Gazal Mishra, Etika Sancheti, Sita Mikhail and other designers from Lakme Fashion Week and FDCI on the front."6Degree aims at enabling designer labels to gain ...
Kesar Enterprises Ltd leads gainers in 'B' group
N K Industries Ltd, Premier Polyfilm Ltd, Ujaas Energy Ltd and R&B Denims Ltd are among the other gainers in the BSE's 'B' group today, 06 June 2019.
Highlights of RBI's monetary policy statement
Following are the highlights of the second bi-monthly monetary policy announced by the RBI on Thursday: * Repo rate reduced by 25 bps to 5.75 pc for third time in a row * Reverse repo rate now stands at 5.50 pc, marginal standing facility (MSF) rate 6 pc * RBI changes policy stance to accommodative from neutral * Cuts GDP growth forecast to 7pc from 7.2 pc for FY20 * Raises retail inflation forecast for Apr-Sept to 3-3.1 pc and 3.4-3.7 pc in Oct-Mar * Projects upward bias in food inflation in near term due to rising prices of food items * Forecast risks to inflation trajectory from monsoon uncertainties, unseasonal spike in vegetable prices, crude oil prices, financial market volatility and fiscal scenario * Waives RTGS and NEFT charges to promote digital transactions * Sets up a panel to review ATM charges, fees levied by banks * To issue draft guidelines for 'on tap' licensing of small finance banks by Aug * Flags sharp slowdown in investments, moderation in private ...
RBI cuts key lending rate to boost growth
Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.
RBI supports growth stance with repo rate cut
As per the latest data by the Government of India, the economic growth has slowed down to a 20-quarter low of 5.8 per cent during the last quarter of FY 2018-19.
DHFL shares plunge over 18 pc as Icra, Crisil downgrade ratings
Shares of Dewan Housing Finance Corporation plunged over 18 per cent Thursday as domestic rating agencies Icra and Crisil downgraded rating on Rs 850 crore worth of commercial paper of DHFL. The scrip tumbled 14.96 per cent to Rs 94.90 -- its 52-week low -- on the BSE. At NSE, shares cracked 18.29 per cent to hit its one year low of Rs 91.30. Equity markets were closed Wednesday for Id-Ul-Fitr. Icra and Crisil Wednesday downgraded rating on Rs 850 crore worth of commercial paper of Dewan Housing Finance Corporation Ltd (DHFL) to 'default' from 'A4' due to the mortgage lender's deteriorating liquidity condition. The rating of the company, which defaulted on a debt repayment earlier this week, has been removed from watch with negative implications by both the rating agencies. Crisil, in a note, said the downgrade to 'default' or 'D' reflects delays in debt servicing by DHFL on some of its non-convertible debentures (NCDs) because of inadequate liquidity. The payments were due on June 4,
RBI raises retail inflation forecast for Apr-Sept FY20 to 3-3.1 pc
The Reserve Bank Thursday raised the retail inflation forecast marginally to 3-3.1 per cent for the first half of the current fiscal, tracking uptick in food prices - mainly vegetables, albeit expectations of a normal monsoon this year. In its first bi-monthly policy for FY20 in April, the Reserve Bank of India (RBI) had forecast the retail inflation to be hovering in the range of 2.9-3 per cent for six months till September. However, the retail inflation projection for the second half of this fiscal has been cut to 3.4-3.7 per cent as against RBI's previous projection of 3.5-3.8 per cent. Cutting benchmark lending rates for the third consecutive time, the apex bank slashed the repo rate - the short-term lending rate at which bank borrows from the RBI - by 0.25 per cent to 5.75 per cent in its second bi-monthly policy review of FY20. "The baseline inflation trajectory for 2019-20 is shaped by several factors. First, the summer pick-up in vegetable prices has been sharper than ...
Midstream struggling as diamond prices soften
Diamond markets are under pressure as profit margins have tightened and the trade war with China has fuelled uncertainty. US jewellery sales are robust, but the midstream is not profitable enough to support a sustainable supply chain.The RapNet Diamond Index (RAPI(tm)) for 1-carat diamonds fell 0.7 per cent in May and is down 1.7 per cent since the beginning of the year.(c) Copyright 2019, Rapaport USA Inc. Note: The price decreases reflected in this report are influenced by the inclusion of diamonds that were previously categorized below the RapSpec A3+ standard.Diamond trading was weak at the JCK Las Vegas show. Demand is selective, with buyers avoiding inventory purchases. Jewellery retailers are taking more goods on memo. Polished suppliers are offering technology and source verification as a value-added service.There is good demand for 0.60- to 1.99-carat, F-J, VS2-I1 diamonds. Buyers are insisting on well-cut stones. Polished below 0.50 carats is slow due to excess supply, weak .
RBI cuts repo rate by 25 basis points to 5.75 pc
The Reserve Bank of India (RBI) on Thursday cut repo rate for the third consecutive time this year to 5.75 per cent from the current 6 per cent amid falling economic growth and uncertain global scenario.The six-member monetary policy committee (MPC) headed by Governor Shaktikanta Das concluded its second meeting for the fiscal year 2019-20. On February 7 and April 4, the central bank had reduced the key lending rate by 25 basis points to infuse liquidity and push growth.Repo rate is the rate at which the RBI lends money to commercial banks. A repo rate cut allows banks to reduce interest rates for consumers on loans, and lowers equal monthly instalments on home loans, car loans and personal loans.India's economy grew just 6.8 per cent in 2018-19, according to government data. In the fourth quarter (January to March), the growth dipped to 5.8 per cent, marking a five-year low.Meanwhile, headline inflation stood at 2.9 per cent year-on-year in April, below the RBI's target of 4 per ...
RBI cuts interest rates for third time this year to boost growth
Slashing benchmark lending rates for the third time this year, the Reserve Bank of India cut its repo rate by 0.25 per cent Thursday and said its future monetary policy stance will be more accommodative. Amid concerns of a slow down in the economy, the central bank lowered its gross domestic product (GDP) forecast to 7 per cent for the current fiscal from 7.2 per cent projected earlier. The repo rate, at which the the central bank lends to the system, will come down to 5.75 per cent after the cut. While marginally increasing its inflation projection to 3-3.1 per cent for the first half of the fiscal year 2019-20, which is within the comfort range of 2-6 per cent set by the government, RBI cut the GDP growth targets sharply to 7 per cent for FY20 on weak global scenario and dip in private consumption. "The MPC (monetary policy committee) notes that growth impulses have weakened significantly A sharp slowdown in investment activity along with a continuing moderation in private ...
RBI reduces repo rate by 25 bps to 5.75%
Changes monetary policy stance to accommodative from neutral
Vakrangee Ltd leads gainers in 'A' group
Info Edge (India) Ltd, Inox Wind Ltd, Power Finance Corporation Ltd and Himadri Speciality Chemical Ltd are among the other gainers in the BSE's 'A' group today, 06 June 2019.
Maruti's dry car wash initiative helped save over 650 million litres of water in 2018-19
Maruti Suzuki India said on Thursday it saved over 656 million litres of water in 2018-19 across its workshops, which is 203 per cent higher against 216 million litres of water in 2016-17.Nearly 6.9 million vehicles were washed using dry wash system at Maruti Suzuki workshops during April 2018 to March 2019."All our service initiatives like dry wash and paperless service experience are designed to enhance customer comfort and convenience without compromising on environment," said company's Executive Director for Service Partho Banerjee."Dry wash at our dealer workshops help us do our bit to give back to the society. We request over 18 million customers who visit our workshops every year to opt for dry wash and help conserve water for our coming generations."The focus has been in major cities where water scarcity is prevalent. The top six cities -- Bengaluru, New Delhi, Hyderabad, Pune, Nagpur and Chennai -- helped to save maximum water to the tune of 160 million litres in 2018-19.On ..
Weak market breadth
Stocks were trading on a weak note in mid-morning trade on selling pressure in index pivotals. At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 154.52 points or 0.39% at 39,929.02. The Nifty 50 index was down 65 points or 0.54% at 11,956.65. Cement stocks declined.
Surya India standalone net profit declines 55.00% in the March 2019 quarter
Sales decline 0.88% to Rs 1.13 crore
Fourth Generation Information Systems reports standalone net loss of Rs 0.04 crore in the March 2019 quarter
Reported sales nil
Vardhman Concrete reports standalone net profit of Rs 0.22 crore in the March 2019 quarter
Sales reported at Rs 0.35 crore
BSEL Infrastructure Realty reports standalone net loss of Rs 17.42 crore in the March 2019 quarter
Sales reported at Rs 4.31 crore
Jindal Worldwide standalone net profit declines 4.64% in the March 2019 quarter
Sales rise 60.25% to Rs 711.25 crore
Garg Furnace standalone net profit rises 178.92% in the March 2019 quarter
Sales rise 32.09% to Rs 31.08 crore