Page 1250 - Business Finance
BOJ maintains massive stimulus as Kuroda warns of growing risks
TOKYO (Reuters) - The Bank of Japan cut its inflation forecasts on Wednesday but maintained its massive stimulus programme, with Governor Haruhiko Kuroda warning of growing risks to the economy from trade protectionism and faltering global demand.
DB Corp net profit slides 3 pc to Rs 76 crore
Media firm DB Corp Wednesday reported 3.17 per cent decline in consolidated net profit at Rs 75.62 crore for the December quarter 2018. The company had posted a net profit of Rs 78.1 crore in October-December period a year ago. Total income during the period under review was at Rs 661.63 crore, up 10.91 per cent year-on-year, DB Corp said in a BSE filing. Advertising revenue of the company was at Rs 481.3 crore as against Rs 426.1 crore in December quarter of 2017-18. Circulation revenue during the reported quarter rose 3 per cent to Rs 130.1 crore from Rs 126.2 crore a year ago. Shares of DB Corp were trading at Rs 178.60 apiece on BSE, down 0.31 per cent from the previous close.
Krebs Biochemicals & Industries Ltd leads losers in 'B' group
Beardsell Ltd, BIGBLOC Construction Ltd, Ratnamani Metals & Tubes Ltd and Kirloskar Pneumatic Company Ltd are among the other losers in the BSE's 'B' group today, 23 January 2019.
Sensex down over 120 points, Nifty below 10,900
Indian markets traded on a choppy note during Wednesday afternoon's trade session over concerns of slowing global economy and the ongoing US-China trade tension. Sensex lost over 120 points and the Nifty slid below the 10,900 mark.
Subaru halts bulk of global car output over part defect
TOKYO (Reuters) - Subaru Corp said its sole car factory in Japan, accounting for roughly 60 percent of global production, could be out of action for almost two weeks after it discovered a suspected defect in a power-steering component.
ITC clocks 4 pc rise in Q3 profit at Rs 3,209 cr
Diversified group ITC on Wednesday reported 3.84 per cent increase in standalone net profit at Rs 3,209.07 crore for the third quarter ended December 31, 2018. The company had posted a net profit of Rs 3,090.20 crore in October-December quarter a year ago, ITC said in a BSE filing. Gross revenue from sales was up 15.09 per cent to Rs 11,340.15 crore as against Rs 9,852.74 crore in the year-ago period. Total expenses stood at Rs 7,446.46 crore as against Rs 6,377.90 crore in the December quarter of 2017. Shares of ITC were trading at Rs 284.75 per scrip on BSE, down 1.73 per cent from the previous close.
'GST rollout biggest reform taken as part of systemic reform'
Union Minister Nirmala Sitharaman Wednesday termed the NDA government's 2017 rollout of the Goods and Services Tax (GST) as the "biggest reform" taken as part of a "systemic reform" and pitched India as a bright spot for investors. In her address at the Tamil Nadu government's second Global Investors' Meet (GIM), the Defence Minister said the government has ensured that systemic reforms were taken up with 'courage.' Prime Minister Narendra Modi has made it a point that systemic reforms were done in such a way that India's growth potential was realised fully, she said. "We maintain the growth well above 6.5 (per cent), sometimes touching seven and IMF's prediction is that we are likely to be over seven per cent in the coming years too." She said it was possible because the Modi government had made sure that that the systemic reforms were taken up "with courage,' GST being the biggest of them. "The biggest reform in the last 60 years was to make India as one market and ...
Volumes spurt at Hathway Cable & Datacom Ltd counter
Hathway Cable & Datacom Ltd notched up volume of 531.78 lakh shares by 14:14 IST on NSE, a 108.73 fold spurt over two-week average daily volume of 4.89 lakh shares
ITC December-quarter profit beats estimate
(Reuters) - ITC Ltd, India's biggest cigarette maker, posted on Wednesday a 3.85 percent rise in December-quarter profit, boosted by higher cigarette sales.
Raymond Q3 profit up 30 pc to Rs 40 cr
Diversified Raymond Group Wednesday reported an increase of 30 per cent in consolidated net profit at Rs 39.95 crore for the third quarter ended December 2018. The company had posted a net profit of Rs 30.71 crore in October-December period a year ago, Raymond said in a BSE filing. Total income during the reported period stood at Rs 1,705.68 crore, registering an increase of 12.69 per cent from the December quarter of 2017-18. Raymond's total expenses were at Rs 1,639.03 crore as against Rs 1,471.38 crore in the year-ago period. Revenue from the textile segment stood at Rs 847.73 crore, up 10.32 per cent from Rs 768.38 crore earlier. Revenue from shirting was at 159.25 crore as against Rs 149.34 crore in October-December 2017-18. While apparel segment was up 19.62 per cent to Rs 396.94 crore, garmenting saw a revenue of Rs 184.66 crore, a rise of 13.65 per cent from the year-ago period. The company's tools & hardware segment reported a revenue of Rs 99.94 crore in the reported ...
Announce accidental insurance, concessional credit for traders: CAIT to PM
Traders' body CAIT Wednesday demanded an incentive package from Prime Minister Narendra Modi for traders such as an accidental insurance coverage, credit at concessional rates and rationalisation of GST slabs. In a letter to the prime minister, the Confederation of All India Traders (CAIT) said: "We shall request you to either declare the package before Budget or include the same in the forthcoming Budget." Their demands include an accidental insurance of Rs 10 lakh for traders registered under the goods and services tax (GST); subsidy for purchasing computers and allied goods; national policy for retail trading and e-commerce; retail regulatory authority; and establishment of a trade promotion council. "It is also urged that the traders should be given loan by banks at a concessional rate of interest. So far, only 5 per cent of the small businesses could able to obtain loans and balance are dependent upon private moneylenders, relatives and other sources," CAIT said. On GST, it ...
U.S. Fed investigating Deutsche's role in Danske money laundering - Bloomberg
FRANKFURT (Reuters) - The U.S. Federal Reserve is investigating Deutsche Bank's role in a money laundering scheme that has embroiled both it and Denmark's Danske Bank, Bloomberg reported on Wednesday.
JNPT becomes the only Indian port to be listed among world's top 30 container ports
Jawaharlal Nehru Port Trust (JNPT), India's premier container port, has got listed among the top 30 container ports globally.JNPT notched up five spots to be 28th on the list compared to its previous ranking, according to the latest Lloyds report. This is a validation of all the efforts and strategic initiatives being implemented at JNPT in order to enhance overall port efficiency.Various new processes activated under the Ease of Doing Business initiative have helped in overall growth of the port business besides allowing the EXIM trade to save time and cost.According to an official statement, gaining operational efficiency and looking for solutions to better services is an on-going process so that the EXIM trade community benefits.JNPT also launched an App service to facilitate better tracking of consignment and ease the trade process for their EXIM partners. The App allows traders to access all the relevant information about consignment and port related updates regarding traffic and
Gold prices slip on weak global cues, muted demand; falls to 33,210 per 10g
Gold prices Wednesday fell by Rs 115 to Rs 33,210 per 10 gram at the bullion market, tracking a weak trend overseas and tepid demand from local jewellers, according to the All India Sarafa Association. Silver, however, staged a strong recovery of Rs 310 to Rs 40,160 per kg due to increased offtake by industrial units and coin makers. Traders attributed the decline in gold prices to a weak trend overseas and muted demand from jewellers at the domestic markets. Globally, gold fell 0.11 per cent to USD 1,284.30 an ounce but silver rose 0.16 per cent to USD 15.43 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity moved down by Rs 115 each to Rs 33,210 and Rs 33,060 per 10 gram, respectively. The precious metal had gained Rs 125 Tuesday. Sovereign gold, however remained flat at Rs 25,500 per piece of eight gram. Meanwhile, silver ready bounced back by Rs 310 to Rs 40,160 per kg and weekly-based delivery by Rs 311 to Rs 39,1987 per kg. Silver ...
Reliance Retail leaps to 94th spot on Deloitte's top retailers' list
Mukesh Ambani-led Reliance Retail has jumped 95 places on Deloitte's Global Powers of Retailing 2019 index, to reach the 94th spot as revenues soared on the back of growth in grocery, consumer electronics, and fashion and lifestyle businesses. While Deloitte ranked 250 firms globally for its annual report based on their retail revenues for financial year 2017, it factored revenue for the year ended March 2018 in case of Indian companies. Reliance Retail "was a new entrant in the Fastest 50 list FY2016 (released last year) and continued its rapid growth by nearly doubling its retail revenue (in local currency) in FY 2017. This was also reflected in its climb of 95 places to number 94 in the top 250," Deloitte said. Reliance Retail is a part of oil-to-telecom conglomerate Reliance Industries. The company's "retail segment witnessed robust operating performance, driven by major growth across its grocery, consumer electronics, and fashion and lifestyle businesses," it said. This was ...
Apollo Global to acquire RPC for 3.3 billion pounds
(Reuters) - RPC Group said on Wednesday Apollo Global Management agreed to buy Europe's biggest plastics packaging maker for 3.3 billion pounds ($4.28 billion) in cash, ending months of negotiations.
Radico Khaitan Q3 net jumps 49% to Rs 52.09 crore
Liquor firm Radico Khaitan Wednesday reported a 48.78 per cent jump in its net profit at Rs 52.09 crore for the quarter ended December 2018. The company had posted a net profit of Rs 35.01 crore during the same period of the previous fiscal. Total income during the quarter under review stood at Rs 2,081.12 crore. It was Rs 1,747.98 crore in the year-ago period, Radico Khaitan said in a regulatory filing. In a separate filing, the company also announced appointment of Sushmita Singha as an independent director to its board with effect from April 1, 2019. The company's brand portfolio includes After Dark Whisky, Contessa Rum, Magic Moments Vodka, Morpheus Brandy, Old Admiral Brandy and 8PM Whisky. The company's stock was trading 3.09 per cent higher at Rs 426 apiece on BSE.
NTPC Ltd sees sustained selling pressure
NTPC Ltd is quoting at Rs 142, down 0.56% on the day as on 13:19 IST on the NSE. The stock tumbled 18.39% in last one year as compared to a 1.44% slide in NIFTY and a 2.9% spurt in the Nifty Energy index.
Tata Motors-DVR trades flat
Tata Motors-DVR is quoting at Rs 95.6, unchanged on the day as on 13:19 IST on the NSE. The stock tumbled 58.61% in last one year as compared to a 1.44% slide in NIFTY and a 25.81% fall in the Nifty Auto index.
JD Wetherspoon warns on profit as costs bite ahead of Brexit
(Reuters) - British pubs group JD Wetherspoon Plc warned of lower pretax profit for the first half of its fiscal year, as it struggles with higher costs amid a slowdown in consumer spending ahead of Brexit.