Page 1200 - Business Finance
Tencent-backed Maoyan prices HK IPO at lower end, raises $250 million
HONG KONG (Reuters) - Maoyan Entertainment, China's top movie-ticketing platform by sales that is backed by Tencent, priced its Hong Kong IPO at the bottom of an indicative range to raise $250 million, according to a term sheet seen by Reuters.
No place for cane growers in farm package
A big relief package for the distressed farmers in the country is set to be announced soon but the sugarcane growers, who have pending arrears of around Rs 19,000 crore, are likely to be left out as a fallout of the tiff between the millers and the government.
Market drops sharply as pivotals slide
Local stocks dropped sharply led by slide in ICICI Bank, Reliance Industries and ITC. The barometer index, the S&P BSE Sensex, lost 368.84 points or 1.02% at 35,656.70, as per the provisional closing data. The Nifty 50 index lost 119 points or 1.1% at 10,661.55, as per the provisional closing data. The Sensex settled below 36,000 mark while the Nifty fell below 10,700 mark.
World markets slip on China worries; dollar steady ahead of trade talks
LONDON (Reuters) - World shares fell into the red on Monday, with equities markets from Asia to Europe buffeted as Chinese industrial profits fell and investors stayed cautious ahead of a busy week including Sino-U.S. trade talks and the Federal Reserve's policy meeting.
Nissan says it's target of SEC inquiry after report of probe on executive pay
TOKYO (Reuters) - Nissan Motor Co Ltd said on Monday it was the target of a U.S. Securities and Exchange Commission (SEC) inquiry, widening a scandal involving the Japanese firm and its ousted Chairman Carlos Ghosn over his alleged financial misconduct.
RBL Bank Q3 profit jumps 36 pc to Rs 225 cr
RBL Bank Monday reported a rise of 36 per cent in net profit at Rs 225.20 crore for December quarter 2018-19 on healthy margins and decline in bad loan proportion. The private sector lender had registered a net profit of Rs 165.30 crore in October-December period of the previous financial year. Total income increased 42 per cent to Rs 1,029.20 crore as against Rs 725.50 crore in December quarter of 2017, the bank said in a statement. Net interest income was up 40 per cent to Rs 655.10 crore during December quarter 2018 as against Rs 467.30 crore in the year-ago period. Net interest margin -- a key gauge of profitability--improved year-on-year to 4.12 per cent in the reported quarter from 3.89 per cent. On asset front also, the bank showed improvement with gross non-performing assets (NPAs) falling to 1.38 per cent of gross advances as on December 31, 2018 from 1.56 per cent in the year-ago period. Net NPAs or bad loans were also trimmed to 0.72 per cent of net loans from 0.97 per cent
UBM India's Initiative 'India's Most Preferred' Shines a Spotlight on India's Favourite Brands in the Gems & Jewellery Sector
/ -- UBM India, India's leading B2B exhibitions organiser, witnessed the 2nd edition of its one-of-a-kind initiative, India's Most Preferred (IMP), for the jewellery retail sector in India. UBM India's busy calendar of events for 2018 concluded with this exclusively crafted campaign, concurrently with the newly launched Mumbai Jewellery and Gem Fair at the Sahara Star in Mumbai. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/814126/IMP_Jewellery_Brands_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/814125/Brands_Felicitated_at_IMP.jpg ) IMP is a due diligence campaign that comprised a nationwide quest for India's most popular and favoured jewellery brands to bestow on them, the exclusive privilege to license the most prestigious IMP logo; a benchmark to understand which brands have a higher mind space amongst stakeholders. The gala show saw a televised glamorous evening of style, insights, entertainment and celebration in ...
BJP 'invites' Rahul Gandhi to visit cable-stayed Goa bridge
The BJP Monday took a dig at the Congress and its chief Rahul Gandhi against the backdrop of the inauguration of a 5.1 kilometre long cable-stayed bridge, christened Atal Setu, on the Mandovi River. The BJP "requested" Gandhi to "visit" the bridge, named after late BJP patriarch and former PM Atal Bihari Vajpayee, to see how the ruling party was "transforming" India. Rahul Gandhi and UPA chairperson Sonia Gandhi are in Goa since Saturday on a private visit. The cable-stayed bridge, the third on the Mandovi River, was opened to public on Sunday at a function attended by Union Minister Nitin Gadkari and Goa Chief Minister Manohar Parrikar. Tweeting from its official handle Monday, the BJP said, "Dear Shri @RahulGandhi, We have come to learn that you are currently on a vacation in Goa. We request you along with all Congress MLAs to visit the Atal Setu, the 3rd longest cable stayed-bridge in india over river mandovi and witness how @BJP4India is #TransformingIndia." All ...
ED attaches properties of Alchemist Group
The Enforcement Directorate (ED) on Monday said it has attached properties worth Rs 239 crore of the Alchemist Group, a firm related to Trinamool Congress MP Kanwar Deep Singh, in connection with a probe into a money laundering to the tune of Rs 1,900 crore.
Zee stock shoots up 15% on reaching deal with lenders
The Zee Entertainment Enterprises Ltd (ZEEL) stock hit the circuit breaker on the BSE Sensex on Monday after Zee and Essel Group Chairman Subhash Chandra said that the company management has successfully arrived at an understanding with lenders to whom the shares held by the group's promoters have been pledged.
FSS Paynalytix and FSS Secure3D win big at Technoviti Awards 2019
FSS (Financial Software and Systems), a global digital payment and financial technology company, announced its AI and ML-driven innovations - FSS Paynalytix-As-a-Service and FSS Secure3D - have won top honors at the 2019 edition of the annual Technoviti Awards.The award was presented by Suresh Prabhakar Prabhu, Union Minister Commerce, Industry & Civil Aviation, at a glittering ceremony at the 'International Trade Fair and Conference on Banking Technology, Equipment and Services' in Mumbai, India.FSS Paynalytix-As-a-Service, a Big Data payment analytics solution, enables banks and payment service providers to leverage a wealth of transactional data to deepen customer engagement, improve operating efficiencies, grow revenues and manage risk.The solution collates vast repositories of transaction data from the Switch as well as discrete Issuance, Acquiring and Reconciliation payment systems to generate actionable business intelligence along the dimensions of customer, market, product
India, China conclude trade talks on market access
India and China have successfully concluded talks on examining market access and quarantine issues for India's agriculture and allied products, it was announced on Monday.The two countries signed the protocol for exports of Indian tobacco leaves to China last week. Quality tobacco on par with international standards is available in India at competitive prices, and there is good potential for export of Indian tobacco to China.Commerce Secretary Anup Wadhawan was on a two-day official visit to Beijing on January 21 and 22 during which he met GACC Vice-Minister Zhang Jiwen, according to an official statement.Wadhawan appreciated the General Administration of China Customs (GACC) for expeditiously addressing long-pending agricultural market access issues for Indian products following understanding reached at the informal summit in Wuhan last year between Prime Minister Narendra Modi and President Xi Jinping.The revival of the phytosanitary protocol with China will pave the way for revival
Nissan says it's 'cooperating fully' with inquiry by US SEC
Nissan Motor Co. says it has received an inquiry from the US Securities and Exchange Commission. The Japanese automaker said in a statement Monday that it "can confirm that we have received an inquiry from the SEC, and are cooperating fully. We cannot provide further details." The statement followed reports by both Japanese and foreign media that the US financial markets watchdog was considering investigating Nissan over its pay to executives in the United States. Nissan's ex-chairman Carlos Ghosn is facing charges in Japan of falsifying financial statements by under-reporting his compensation and of breach of trust related to his handling of investment losses and payments to a Saudi businessman. Ghosn has been detained since his arrest on Nov. 19. He has said he is innocent of any wrongdoing.
Renault Nissan Alliance in India partners with NSDC
Renault-Nissan Alliance India has inked a pact with National Skill Development Corporation (NSDC) to train workforce at its Chennai plant for future technologies. Through this partnership, NSDC will assist the Renault-Nissan workforce develop competency standards in emerging automotive manufacturing technologies, Renault Nissan Alliance said in a statement. "Through our partnership with NSDC, which is a first for the Corporation, we will aim to get 10 per cent of employees trained in the first year to be able to support the growth and expansion plans of the Alliance in India," Renault-Nissan Alliance India HR Director Jayakumar David said. NSDC MD & CEO Manish Kumar said the automotive and auto component manufacturing industry has been growing steadily over the last few years. "Hence, we see tremendous potential to skill and up-skill the Indian youth and support the sectoral growth. We look forward to a successful collaboration with the Alliance in India to achieve the envisioned .
PolicyBazaar aims to collect Rs 3,500 crore premium in FY19
: Insurance portal Policybazaar which has recently raised around Rs 1,360 crore through a fresh round of investment, has said it aims to collect Rs 3,500 crore premium by the end of the current fiscal, a senior company official said. It collected premium of about Rs 1,800 crore in FY18, Head of Communications and spokesperson of Policybazaar.com Group of Companies Aman Dhall told PTI. "The company is on track to achieve over Rs 3,500 crore premium mark. Our focus would continue to create awareness around protection products that provide coverage against death, disease and disability," he said. "We believe that protection products will be the driver of future insurance growth. We are confident of reaching 10 million customers by CY20," Dhall added. According to him, calendar year 2018 ended with a collection of Rs 2,500 crore premium on its platform, emerging as the single largest insurance distributor in India (outside of banks). Overall, Policybazaar.com accounts for 25
Godrej Properties posts Rs 42 cr profit in Q3 FY'19
Godrej Properties Monday reported a consolidated net profit of Rs 41.63 crore for the third quarter of 2018-19 on higher sales. It had posted a net loss of Rs 54.75 crore in October-December 2017, the company said in a regulatory filing. Total income rose to Rs 430.70 crore in the reported quarter from Rs 308.29 crore in the year-ago period. Godrej Properties is a real estate arm of business conglomerate Godrej group. Shares of Godrej Properties were trading at Rs 747.40 apiece, up 0.24 per cent from the previous close, on BSE.
Piramal Enterprises clocks 23 pc rise in Q3 profit to Rs 603 cr
Piramal Enterprises on Monday reported 23 per cent rise in consolidated net profit at Rs 603.27 crore for December quarter 2018, mainly on account of strong performance in financial services and pharma businesses. The company had posted a net profit of Rs 490.47 crore in October-December 2017, Piramal Enterprises said in a filing to BSE. Consolidated revenue from operations stood at Rs 3,489.08 crore in the reported quarter as against Rs 2,858.36 crore in the same period a year ago. "We continue to consistently deliver strong performance during the quarter, despite volatile business environment," Chairman Ajay Piramal said. Revenue was up 22 per cent to Rs 3,489 crore and net profit grew 23 per cent to Rs 603 crore, led by growth across financial services and pharma businesses, he added. "Our group's credibility, robust track record and balance sheet strength enabled us to get enough liquidity from banks and mutual funds, despite tightened liquidity for the sector over the last few ...
Mahindra partners with Greaves Cotton for BS-VI engines
Mahindra & Mahindra (M&M) Monday said it has partnered with engineering firm Greaves Cotton to source BS-VI emission norms compliant powertrain solutions. As a part of the partnership, Greaves Cotton will provide affordable BS-VI powertrain solutions to Mahindra, which will be used in Mahindra three wheelers, M&M said in a statement. "We have made significant progress in developing production ready fuel agnostic powertrain solutions for the last mile mobility solutions and services," Greaves Cotton Ltd President Engines Business, Debashis Mitra said. M&M Powerol & Spares Business President CPO Hemant Sikka said Mahindra is always keen to partner with suppliers who have complete alignment with its strategy. "Working closely with Greaves Cotton, Mahindra aims to meet this demand and provide excellent products and services to its customers," he added.
Xelpmoc Design and Tech IPO sees good demand
Receives bids for 66.40 lakh shares
HEG Ltd leads losers in 'A' group
Adani Power Ltd, Linde India Ltd, Dewan Housing Finance Corporation Ltd and Adani Ports & Special Economic Zone Ltd are among the other losers in the BSE's 'A' group today, 28 January 2019.