Page 1215 - Business Finance
Sambhaav Media forms LLP namely 'Sambhaav Nascent LLP'
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Nippon Paint launches car paint, repair service in India
Nippon Paint Friday said it has launched an initiative in the country offering body and paint repair services to car buyers. Under the concept of Nippon Paint X'press, the company is planning to open centres which would provide body and paint repair and car care services to retail customers while cutting process times. The company will open the first of the centres under the franchise route in Gurgaon followed by outlets in other major cities. "India is one of our key growth markets and our focus is on providing high quality, innovative products and solutions to our growing customer base in India," Nippon Paint India Managing Director Shae Toh Hock said in a statement. The company is introducing Green Efficiency, a unique paint system that delivers express painting solutions, while complying to EU 2004 emission norms, he added. "Not only is the whole painting system green and eco-friendly but highly productive too, something that is really needed in a fast-paced country like India," ..
Maruti shares tumble over 8%; m-cap drops by Rs 15,739 cr post Q3 earnings
Shares of Maruti Suzuki India Friday tumbled over 8 per cent after the company reported its second successive decline in quarterly net profit with a 17.21 per cent drop for the third quarter ended December 2018, also the steepest fall in nearly five years. The stock slumped 7.40 per cent to close at Rs 6,516.35 on the BSE. During the day, it dived 8.77 per cent to Rs 6,420, its 52-week low. The stock was the worst hit among the BSE's 30-blue chip share components. At the National Stock Exchange (NSE), shares of the company slumped 8.10 per cent to end at Rs 6,469.90. Led by the sharp fall in the stock, the company's market valuation also eroded by Rs 15,739.06 crore to Rs 1,96,845.94 crore on the BSE. The company said its net profit for the third quarter of the current financial year stood at Rs 1,489.3 crore, compared with Rs 1,799 crore in the corresponding period of the previous fiscal. Total income during the October-December 2018 quarter stood at Rs 20,585.6 crore, against Rs ...
ANAROCK Snags Exclusive Mandate for Swaminarayan City in Mumbai's Dombivali
/ -- Limited-edition housing at Mumbai's latest major pilgrimage destination Leading real estate services provider ANAROCK Property Consultants today announced that it has accepted an exclusive mandate to market 550 limited-edition flats in Swaminarayan City at Dombivali West, Mumbai. The project, which leverages excellent location along with a high spiritual aspiration quotient, is spread over 148 acres in Retigaon in Dombivli (West) - one of Mumbai's fastest-growing suburbs. Its proximity to the Ulhas River offers unmatched views of this famous water body. (Logo: https://mma.prnewswire.com/media/701435/ANAROCK_Logo.jpg ) Bappaditya Basu, Director & Head - Channel Partner Business, ANAROCK Property Consultants says, "The project's USP may be seen to be that it abuts India's largest Swaminarayan Temple coming up over 14 acres in Dombivali. However, Swaminarayan City also provides exceptionally high location value. In fact, the mounting housing demand in Dombivali had prompted the
DLF closes 11.5% down after CBI raids office
Stocks of realty major DLF on Friday closed 11.5 per cent lower after the CBI raided the company's office premises in Gurugram and other places, in connection with a case of alleged irregularities in allocation of land to the company.
I&B Ministry hikes advertisement rates for pvt TV channels
The government has hiked the advertisement rates offered by it to private TV channels, which would lead to an increase of about 11 per cent in the rates for most channels. Differential rate structures for news and non-news channels will be offered, depending on their overall reach in the country, an official statement said Friday. The move comes just days after the government hiked by 25 per cent the rates at which the Bureau of Outreach and Communication (BOC) releases its advertisements to the print media. Ministry of Information and Broadcasting has taken a decision to revise the advertisement rates offered by BOC to private TV channels, the statement said. The revised rates have been announced on the basis of a review committee constituted by the ministry which submitted its report on January 1, 2019, it said. The last hike for private TV channels took place in 2017, an official said. The revision would lead to an increase in rates of about 11 per cent over the rates of 2017 for ..
Chugh Firm and Taxmantra Partner to Serve a Greater Cross-section of Clients
/ -- TCF (The Chugh firm) and Taxmantra have partnered to render tax and regulatory service with a shared vision of creating a more valuable offering for businesses. TCF is a full-service Law and CPA firm headquartered in the US with offices around the globe. TCF has been in business since 1985 and specializes in the practice areas of Immigration, Corporate law, Taxation, Litigation, Employment, and Mergers and Acquisitions in the legal field, and provides accounting, bookkeeping and tax returns filing services. Taxmantra, with its presence in India and Singapore, have created a niche in the business set-up, Tax Advisory, cross-border transaction, and fundraising compliance for emerging technology ventures as well as matured companies. With this partnership, both firms would look to leverage their respective strengths to serve a wider cross-section of international clients, with more valuable offerings. Together, with international footprint into Singapore and SEA, deepening ...
Ram Info bags order from Energy Efficiencey Services
For smart street lighting in all gram panchayats of Andhra Pradesh
Board of Hatsun Agro Product Partly Paidup recommends interim dividend
Of Rs 1.6 per share
No one on Deutsche Bank board pushing for Commerzbank tie-up: union
BERLIN (Reuters) - No one on the supervisory board of Deutsche Bank is pushing for a near-term merger with rival Commerzbank, a Deutsche board member said.
China to lift cash injection by $37 billion for reserve assessment changes
BEIJING (Reuters) - China's central bank said on Friday it will release about 250 billion yuan ($37 billion) in additional cash to banks, due to changes in assessments for banks' targeted reserve requirement ratio (RRR) reductions announced in 2018.
BOJ's Kuroda says demographic changes could make c.bank's job difficult
DAVOS, Switzerland (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday changes in demographics, such as an ageing population, could make the central bank's job difficult by lowering the economy's long-term growth rate.
Maruti Suzuki's Q3 net profit down 17.2%
Automobile major Maruti Suzuki India on Friday reported a decline of 17.2 per cent in its net profit for the quarter ended December 31, 2018.
Emami acquires German personal care brand Creme 21 for undisclosed amount
Homegrown FMCG major Emami Friday announced acquisition of German personal care brand Creme 21, for an undisclosed amount. Creme 21, which has major business in Middle East and other focus markets, has been acquired at less than 1.5 times of its sales, said Emami in a statement. "This international acquisition is in line with the company's strategy for growth through the inorganic route," said the Kolkata-headquartered firm. The acquisition is being funded from internal accruals, it added. Emami Director Harsha V Agarwal said: "We plan to leverage our existing network of distribution and infrastructure to grow the brand. Creme 21 is an iconic German brand that has a high brand recall. The brand has good potential for growth and we expect it to add value to our growth trajectory." The German brand was acquired by Ms Antje J Willems Stickel in 2003. Creme 21 offers skin care and body care products, which include creams and lotions, shower gels, sun care range, and men's range. "With ...
Vodafone 'pauses' Huawei deployment in core network
LONDON (Reuters) - Vodafone, the world's second largest mobile operator, said it was "pausing" the deployment of Huawei equipment in its core networks until Western governments resolve concerns about the Chinese firm's activities.
Japan's Asahi defies Brexit blues with Fuller's beer buy
(Reuters) - Japanese brewer Asahi Group is buying the British beer business of Fuller, Smith & Turner for 250 million pounds ($327 million), including debt, furthering its overseas reach at a time of growing uncertainty over Brexit.
BSE to suspend trading in Bharti Defence, Todays Writing from Feb 1
Trading in the equity shares of two companies -- Bharati Defence and Infrastructure and Todays Writing Instruments -- will be suspended from February 1, following the commencement of liquidation proceedings, leading stock exchange BSE said. The decision has been taken in order to avoid market complications, BSE said in a circular. The move comes after the Mumbai Bench of National Company Law Tribunal (NCLT) on January 14, initiated liquidation process against Bharati Defence and appointed Vijay Kumar V Iyer as liquidator. Similarly, the Ahmedabad Bench of NCLT on November 30, 2018 had commenced liquidation process against Todays Writing and named insolvency professional Vishal Bidawatjika as liquidator. In two similar-worded circulars, the BSE said that trading in the equity shares of Bharati Defence and Todays Writing will be suspended with effect from February 1, 2019 in order to avoid market complications.
IndiGo to make major international expansion, says Dutta
IndiGo's new CEO Ronojoy Dutta Friday told the staff that the airline would be making a major expansion into international markets. Dutta's appointment as the CEO of InterGlobe Aviation, the parent of IndiGo, was made by the board on Thursday amid the carrier working on expansion of its presence. IndiGo is the country's largest airline in terms of domestic market share. In a message to the staff, Dutta said that IndiGo is playing a critical part in nation building by "building highways in the sky". "... our work is only beginning. While we have established a domestic network, we are only a bit player in the international market. "Foreign carriers carry 61 per cent of the traffic in and out of India, we carry only 6 per cent," he said. The airline is preparing for expansion in overseas markets and has announced daily direct flight from Delhi to Istanbul starting from March 20. According to him, there are supply chains of goods, services and capital that run across the world. "If India .
Nifty ends below 10,800 mark
Key benchmarks indices ended the volatile session with steep losses. The Sensex held above 36,000 mark while the Nifty ended below 10,800 level. Indices opened higher and hit fresh intraday high in morning trade. Benchmarks trimmed gains in mid-morning trade. After hovering in a narrow range in early afternoon trade, indices reversed trend and slipped into negative terrain in mid-afternoon trade. Barometers hit fresh intraday low in late trade.
Quick Wrap: Nifty Media Index registers a drop of 16.37%
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