Page 1195 - Business Finance

TV18 Broadcast gets revision in credit ratings from ICRA

Further, the rating for Company's Commercial Paper Programme remain unchanged at ICRA A1+; Outstanding.

Network 18 Media & Investments gets revision in credit ratings from ICRA

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CEAT Q3 net profit dips 36 pc to Rs 52.24 cr

Tyre maker CEAT Monday reported a 36 per cent dip in its consolidated net profit to Rs 52.24 crore for the quarter ended December 2018. The company had posted a net profit of Rs 82.10 crore for the corresponding period of the previous fiscal, CEAT said in a filing to the BSE. Its consolidated total income stood at Rs 1,717.95 crore for the quarter, against Rs 1,580.78 crore for the same period a year ago. CEAT Managing Director Anant Goenka said: "Our Q3 revenue, year-on-year, has witnessed an upward growth on the back of a strong performance in two-wheelers and commercial vehicle segments." From a product launch perspective, the company is excited with the launch of the Gripp X3 and Milaze X3 products, he added. Shares of Ceat Ltd closed at Rs 1,151.95 per scrip on the BSE, down 3.10 per cent from the previous close.

Caterpillar profit, forecast fall short of estimates; shares tumble

(Reuters) - Caterpillar Inc fell short of analysts' estimates for both fourth-quarter profit and its full-year 2019 outlook on Monday, sending its shares down 5 percent as it suffered from a slowdown in construction business in China.

Analysis: Aramco's rating ambitions face Saudi economic curb

DUBAI (Reuters) - Saudi Aramco is pushing for a top credit rating ahead of its first international bond sale, but Saudi Arabia's sluggish economy may curb the state-owned oil firm's ambitions.

Nvidia cuts fourth quarter revenue estimate on weak China demand

(Reuters) - Nvidia Corp on Monday cut its fourth-quarter revenue estimate by half a billion dollars, hurt by weak demand for its gaming chips in China.

S&P Global enters China's credit rating market amid trade war

Chinese bank regulators approved the registration of S&P Global's Chinese entity on Monday, giving the US tech firm access to the country's credit rating market, as the China-US trade war grinds on. The People's Bank of China -- China's central bank -- said S&P Global's Beijing-based subsidiary has successfully registered and has received the green light to conduct bond rating in China's interbank bond market. "As a next step, the People's Bank of China will... support even more foreign credit rating organisations that conform to regulations and have international influence to enter the Chinese market," the bank said in a statement. Opening up China's credit rating industry is "an important part" of steadily growing China's financial market, it said. S&P Global's entry into China comes as Beijing and Washington are locked in a bruising trade war that has spooked markets worldwide. Since last year, the world's two largest economies have exchanged tit-for-tat tariffs on more

Orient Electric Q3 profit down 3 pc to Rs 11.76 cr

CK Birla group firm Orient Electric on Monday reported a decline of 3.36 per cent in net profit to Rs 11.76 crore for the third quarter ended December 31, 2018. The company had reported a profit of Rs 12.17 crore in October-December 2017, Orient Electric said in a BSE filing. However, the total income during the reported quarter was up 21.47 per cent to Rs 422.71 crore as against Rs 347.97 crore in the year-ago period. Total expenses were at Rs 404.98 crore as compared to Rs 329.25 crore in the corresponding period of 2017-18. Revenue from electrical consumer durables was at Rs 284.67 crore and from lighting and switchgear segment at Rs 135.75 crore. In a separate filing, Orient Electric informed that its board on Monday approved an interim dividend of Rs 0.50 (50 per cent) per equity share of face value of Re 1 each for 2018-19. Shares of Orient Electric on Monday settled 3.93 per cent down at Rs 139.35 apiece on BSE.

Indo Amines gets business license for subsidiary in Changzhou, China

Indo Amines Sales (Changzhou), is the wholly owned subsidiary of the company with the object of wholesale and retailing of raw chemicals, textile, rubber products, metal materials, import and export of goods and technologies and other related activities or projects.

Oil falls as U.S. adds new rigs, China weakness rattles market

LONDON (Reuters) - Oil fell nearly 2 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest January gain for 14 years.

Global growth concerns, Q3 results dent equity market; banking stocks tank (Roundup)

Global growth concerns, along with disappointing quarterly results and heavy selling pressure in banking, automobile, healthcare and consumer durables stocks dragged the Indian equity market into the red on Monday.

Sun Network projects positive revenue impact from Trai order

Expecting a positive revenue impact from the Trai's proposed regulations, South India's leading broadcaster Sun TV Network Ltd was on expansion mode investing Rs 300 crore in 2-3 years foraying into channels beyond south Indian languages. Telecom Regulatory Authority of India (Trai) in its new directive proposed to be rolled out February 1, wants the customers to pay only for channels they would want to view. "We have to wait and see how it pans out. I think it will have a positive impact on subscription revenue," Sun TV president R Mahesh Kumar said here Monday. There will be a major impact on distribution landscape in the south, he said, without elaborating. "Analog connection in Tamil Nadu, one of our major market, is still at 35-40 per cent," he said at the launch of the Sun Bangla, a general entertainment channel, in city. Sun Bangla is the first non-south Indian language channel of the Sun TV Networks. "Sun Bangla will start airing from February 3 and we hope to ...

Board of Persistent Systems approves buyback of shares up to Rs 225 cr

At meeting held on 28 January 2019

Board of GCM Capital Advisors approves change in directorate

At meeting held on 28 January 2019

Burglars stun PNB branch in Tamil Nadu

In a major robbery, burglars broke open the walls of the Punjab National Bank (PNB) in Samayapuram in Tamil Nadu's Tiruchirappalli district and emptied some lockers of its contents, police said.

Dropbox to buy electronic signature firm HelloSign for $230 million

(Reuters) - Data sharing and storage company Dropbox Inc said on Monday it would buy electronic signature company HelloSign for $230 million in cash, which will expand its portfolio of workflow-related products.

Bank of India aims for fourth-quarter profit as it tackles bad loans

(Reuters) - Bank of India Ltd aims to return to profit in the January-March quarter as it focuses on reducing bad loans, its chief executive said on Monday, after the state-run lender logged its biggest quarterly loss since at least 2005.

Tata Motors partners with Nitol Motors to launch new LPT 1212 LCV in Bangladesh

Tata Motors Monday said it, along with its authorised distributor Nitol Motors, has launched the all-new Tata LPT 1212 light commercial vehicle in Bangladesh. The vehicle has been designed for the modern commercial vehicle customer of Bangladesh, with superior performance and high load-carrying capacity, Tata Motors said in a statement. Nitol Motors Chairman Abdul Matlub Ahmed said: "With our partner Tata Motors, we are confident about making a significant impact in the light truck segment with Tata LPT 1212 and thus winning a significant market share." Nitol Motors is the largest distributor of Tata Motors in Bangladesh. "The much-awaited Tata LPT 1212 has been specifically designed keeping in mind the unique local Bangladesh market loading requirements and duty cycle," Tata Motors Commercial Vehicles International Business Head Rudrarup Maitra said. With various product enhancements such as a powerful engine, high ground-clearance, bigger clutch diameter and tyre size, this vehicle .

Caterpillar forecasts 2019 profit below estimates

(Reuters) - Caterpillar Inc forecast full-year profit below analysts' estimates on Monday, indicating a slide in global demand stemming from China would worsen after it reported revenue in line with expectations for the last three months of 2018.

Tata Power reports PAT lower owing to low coal profits

Tata Power, India's largest integrated power company with an installed capacity of 10,857 MW, on Monday reported a consolidated profit after tax of Rs 205 crore for the December quarter. The performance was lower from Rs 628 crore in the same period of previous year due to lower profits from coal business.However, revenue for the quarter stood at Rs 7,571 crore, up by 16 per cent from Rs 6,506 crore. The company's renewable segment EBITDA was higher at Rs 511 crore in Q3 FY19 as compared to Rs 471 crore in Q3 FY18."All our businesses continue to perform well," said Praveer Sinha, CEO and Managing Director of Tata Power. "Our renewable business has added 356 MW over previous year and have a healthy order book of 1,255 MW" he said.The company has launched residential solar rooftops in Mumbai, New Delhi, Ajmer, Bhubaneshwar and Bangalore. However, profit after tax is adversely affected due to coal companies profitability that is under pressure due to domestic market pricing obligation ...