Page 1234 - Business Finance
CBI books V.N. Dhoot, Chanda Kochhar; raids in Videocon-ICICI Bank loan case
In a significant development, the CBI on Thursday lodged an FIR against ex-ICICI Bank chief Chanda Kochhar and her husband Deepak Kochhar and industrialist V.N. Dhoot besides four companies, and raided four locations in Maharashtra in connection with a Rs 3,250 crore loan involving the Videocon Group and ICICI Bank, informed sources said here.
Board of Vista Pharmaceuticals approves allotment of 1.89 lakh shares on conversion of warrants
At meeting held on 24 January 2019
Yes Bank vaults on high volume after Q3 result
Yes Bank jumped 15.48% to Rs 227.85 at 15:21 IST on BSE after the private sector bank declared Q3 December 2018 result during market hours today, 24 January 2019.
Electronic waste produced every year weighs more than all airlines ever built: WEF report
Indicating a major health and environmental crisis, the amount of electronic waste produced every year is set to grow to 120 million tonnes by 2050 from 50 million tonnes currently -- which already weighs more than all the commercial planes ever built, a report said. In the report released here in collaboration with the UN-E-Waste Coalition, the World Economic Forum (WEF) said the value of electronic waste produced every year is a staggering USD 62 billion already, which is worth three times the total silver production. It also said there is 100 times more gold in a tonne of mobile phones than in a tonne of gold ore. The report said the world is on the brink of a major health and environmental crisis, as the annual amount of electronic waste produced each year looks set to grow further to 120 million tonnes by 2050. With only 20 per cent of the electronics and plastics formally recycled each year, this looming health and environmental catastrophe also represents a unique USD 62 ...
Ghosn resigns as Renault boss as French group enters new era
Arrested car boss Carlos Ghosn resigned his position as chief executive and chairman of Renault, ending his leadership roles in the auto industry and signalling the start of new era for the French manufacturer. Ghosn, the most powerful man in car-making until his sensational arrest in Japan last November on financial misconduct charges, had already been sacked as chairman of Japanese auto groups Nissan and Mitsubishi. But the 64-year-old had held on to the top job at Renault, which has been run on an interim basis by one of his deputies while he languishes in a Japanese jail. French Finance Minister Bruno Le Maire confirmed to AFP that Ghosn tendered his resignation late Wednesday -- ahead of a Renault board meeting in Paris that would have seen him replaced. A senior director from the firm "received last night the letter of resignation from Carlos Ghosn," Le Maire said. As head of Renault since 2005, Ghosn was the keystone of its alliance with Nissan and Mitsubishi, forging an ...
UltraTech Cement posts Q3 net profit of Rs 390.43 crore
Aditya-Birla group firm UltraTech Cement Thursday reported a consolidated net profit of Rs 390.43 crore for the third quarter ended December 2018. It had reported a net profit of Rs 456.66 crore in the October-December quarter of the last financial year, UltraTech said in a BSE filing. UltraTech Cement's total income was at Rs 9,492.94 crore during the quarter under review. It was Rs 8,056.54 crore in the corresponding quarter a year ago. "Domestic sales volume jumped 15 per cent over Q3FY18," said UltraTech Cement in a statement. It further added, higher fuel and energy costs, coupled with rupee depreciation resulted in costs increasing by 11 per cent over Q3FY18. Additionally, interest costs are higher due to the loans raised for the acquisition of UNCL." UltraTech's total expenses stood at Rs 8,916.44 crore. The company informed that the result also includes cement plants of Jaiprakash Associates and Jaypee Cement Corp. Hence, the figure for nine months are not comparable. Over the
Jardine Matheson briefly loses $41 billion in market value after suspected 'fat finger'
SINGAPORE (Reuters) - Shares in Singapore-listed conglomerate Jardine Matheson Holdings Ltd briefly plunged 83 percent, or nearly $41 billion in market value, before recovering on Thursday in what traders said was likely a "fat finger" error.
BP invests in Chinese electric vehicle charging platform
LONDON (Reuters) - BP said on Thursday it had invested in Chinese start-up PowerShare, which links electric vehicle drivers to charging points and helps power suppliers balance distribution.
Yes Bank gets RBI nod for Ravneet Singh Gill to be CEO
(Reuters) - India's Yes Bank said on Thursday it got the central bank's approval to name Ravneet Singh Gill as its new chief executive officer.
Davos: Microsoft welcomes regulation on facial recognition technology - Nadella
DAVOS, Switzerland (Reuters) - Microsoft Chief Executive Satya Nadella said on Thursday that with the growth of facial recognition technology, he would "welcome regulation that will help the marketplace not be a race to the bottom."
Hyundai Motor suffers first net loss in 8 years as China sales skid
SEOUL (Reuters) - South Korea's Hyundai Motor surprised the market on Thursday by posting its first quarterly net loss in at least eight years as its vehicle sales slumped in the key China market.
UK Brexit minister Barclay says takes Airbus 'no deal' warning seriously
LONDON (Reuters) - British Brexit minister Stephen Barclay said on Thursday he took a warning from Airbus chief executive Tom Enders over the risks of a 'no deal' Brexit very seriously.
Jyothy Labs Q3 net profit up 30 pc to Rs 48 cr
FMCG firm Jyothy Laboratories Thursday reported a 29.85 per cent rise in standalone net profit to Rs 48.41 crore for the third quarter ended December 2018. The company had posted a net profit of Rs 37.28 crore for the corresponding period of the previous fiscal, Jyothy Laboratories said in a filing to the BSE. Standalone revenue from operations of the company stood at Rs 434.33 crore in the quarter, compared with Rs 408.78 crore for the corresponding period a year ago. "Last quarter, we witnessed diminished growth due to the unfortunate calamity in Kerala. The situation has stabilised and with the onset of the festive season this quarter, we have seen significant growth in our revenues and overall profits," Jyothy Laboratories Chairman and Managing Director M P Ramachandran said. Shares of Jyothy Laboratories were Thursday trading at Rs 181.40 per scrip on the BSE, down 5.89 per cent from the previous close.
HEG Ltd leads losers in 'A' group
Deepak Fertilizers & Petrochemicals Corp Ltd, Graphite India Ltd, GIC Housing Finance Ltd and Jyothy Laboratories Ltd are among the other losers in the BSE's 'A' group today, 24 January 2019.
Rocking Deals forays into offline business, ties up with Spice Hotspot
Online refurbished products' store Rocking Deals has tied up with technology products retailer Spice Hotspot Retail, making its way into the offline retail business.
Scholarships announced for Indian startups accelerating in Israel
A non-profit organisation along with a trade association of Indian IT and BPO industry has announced a USD 50,000 scholarship fund for Indian start-ups accelerating in Israel. The fund created by MassChallenge Israel, along with the Deshpande Foundation and the National Association of Software and Services Companies (NASSCOM), would also provide a unique opportunity to win up to half a million Israeli shekels (USD 1,35,000) in cash prizes, an official spokesperson of the MassChallenge Israel said. "A USD 50,000 scholarship fund has been created to support up to 10 Indian startups qualified for MassChallenge Israel's 2019 accelerator cycle," spokesperson for MassChallenge Israel Ido Atiya told PTI. MassChallenge was founded by John Harthorne and Akhil Nigam in 2010 with an aim to make it easy for entrepreneurs to launch and grow new ventures. Headquartered in the US its offices are in Boston, Israel, Mexico, Switzerland, Texas, and the UK. The selected Indian startups will join the ...
German firm, EKKI group to set up factory in Coimbatore
: City-based water technology major EKKI group has proposed to set up a manufacturing facility here through a joint venture with German pump company Homa group. The companies announced the signing of memorandum of understanding in the presence of Tamil Nadu Chief Minister K Palaniswami during the second edition of the Global Investors Meet which began in Chennai Wednesday. Under the pact which was inked in May last, Homa would have 50 per cent stake in the joint venture. The German firm would be investing nearly Rs 150 crore as part of its expansion plans globally and a part of the amount would be invested in the unit, a press release said. The new factory would create employment opportunities for nearly 100 people, the release said. EKKI group is engaged in the manufacture of pump systems under the EKKI and DECCAN brands, which are sold in more than 20 countries.
Anil Agarwal keen to bring Co that owns De Beers to India
After stunning the world by becoming the single largest shareholder in one of the world's best-known mining groups mining mogul Anil Agarwal, is keen to bring South Africa-based Anglo American to India for prospecting of coal, iron ore, copper and other minerals. Agarwal recently spent USD 2.4 billion to buy close to 22 per cent in Anglo, which owns 85 per cent of De Beers, the world's leading diamond company. "Anglo is already in India mostly because of the De Beers diamonds they sell. But I want to involve them more," said Agarwal, who is part of a business delegation accompanying South African President Cyril Ramaphosa to India. "We would be talking to them how we can involve them more (in India). They have huge branding and technology, be it diamonds, platinum, copper, iron ore and manganese, and coal," he said. "I have no doubt that they will come at some point of time to make an investment in India." He, however, hastened to add that there was no concrete investment proposal at .
Thirumalai Chemicals Ltd leads losers in 'B' group
Arrow Textiles Ltd, I G Petrochemicals Ltd, Tejas Networks Ltd and Oriental Hotels Ltd are among the other losers in the BSE's 'B' group today, 24 January 2019.
Volumes jump at CARE Ratings Ltd counter
CARE Ratings Ltd witnessed volume of 5 lakh shares by 14:14 IST on NSE, a 12.81 times surge over two-week average daily volume of 39054 shares