Page 1336 - Business Finance
Apar Industries announces board meeting date
On 29 January 2018
Essel Propack to declare Quarterly Result
On 23 January 2019
Instant view: India's Dec retail inflation rate drops to 2.19 percent, lowest since June 2017
BENGALURU (Reuters) - India's retail inflation rate dropped to 2.19 percent in December from a year earlier, the lowest level since June 2017, government data showed on Monday. The decline was helped by a fall in food prices and smaller increases in fuel costs.
Automakers staring at production stoppage due to restrictions on steel imports: SIAM
Automobile industry body SIAM Monday said vehicle manufacturers are staring at production stoppage if there is no resolution of the issues over restrictions imposed on domestic manufacturers using imported steel. Last month, the government had extended the deadline for automobile makers to use Bureau of Indian Standards (BIS) certified locally produced high grade steel till February. The automobile manufacturers had sought a year's time, expressing their inability to source high grade steel locally soon citing inconsistent quality. "Yes, our production will get hampered if it is not resolved. We are making representation to the government regarding the matter," Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera told reporters here. He further said nearly 90 per cent of the steel used in automobile production is manufactured in India and only around 10 per cent of high grade steel, which is used for meeting safety standards among others, is not manufactured ...
Indian paint industry estimated to reach Rs.70,000 crores by 2021-22: IPA
The 29th Indian Paint Conference, the largest trade-show of the estimated Rs. 500 billion (Rs. 50,000 crores) Indian Paints and Coatings industry was organized in Agra from 11th to 13th January 2019.The 3-Day Conference organized by Indian Paint Association (IPA), the apex body of the Indian paint industry was inaugurated by Sumit Sawhney, CEO & MD - Renault India and Jayant Krishna, former Executive Director & Chief Operating Officer, National Skill Development Corporation (NSDC) in presence of stalwarts from the Indian paint industry and senior officials from industry bodies like CII.Speaking on the occasion, Abhijit Roy, President - IPA said, "The Indian Paint Industry currently valued at around Rs. 50,000 Crores is poised to grow at a healthy rate and is expected to reach around Rs.70, 000 Crores by 2021-22. There is a strong co-relation between the Indian Paint Industry and the GDP growth of the country. It has historically surpassed India's GDP growth by 1.5 to 2 ...
Paisabazaar.com hits USD 1 Bn annualized loan disbursal run-rate
India's largest marketplace for financial products Paisabazaar.com announced today that it has become the country's first independent digital platform to reach an annualized loan disbursal rate of USD 1 billion.Since its inception in February 2014, Paisabazaar.com has witnessed 150X growth and is the clear marketplace leader for lending products, according to industry estimates.Unsecured loans, which include personal loans and business loans, form the majority share of the disbursals taking place through the Paisabazaar platform. Currently, Paisabazaar.com disburses ~Rs. 480 crore of unsecured loans every month, with a dominant share of these loans going to salaried prime customers, who have an in-hand monthly income of over Rs. 25,000 and credit score more than 750."The milestone of reaching USD 1 billion run-rate is significant because it shows the size of the Indian lending market. If one looks at unsecured loans alone, even at such high volumes that Paisabazaar is doing, we are ...
TukTuk ride launches ride hailing services in Noida
Modernizing the concept of three-wheeler tuk-tuks, a Noida based transportation network company TukTuk Ride launched its first on-demand cab service in the city on Monday.The application build startup claims to facilitate cabs and bikes with no surge pricing and flat rates. The company plans to present an array of exciting innovative modern transportation services, specifically designed to meet the demands of different customers.The driver-centric platform offers comfortable cab services with experienced, well trained, skilled and more regulated drivers; delivering the first-class service. They also look forward to providing a better option for riders to choose between enormous services like Rent Luxury Bike, Logistics, Cabs, electronic bike, Delivery, and much more.During the launch, Yash Kapoor, Founder, TukTuk Ride, said, "We aim to establish ourselves as a leader in the field of cab services in the next 5 years. TukTuk intends to introduce a quick, affordable and high-quality cab .
CPI inflation declines to 2.19% in December 2018
Core CPI inflation flat at 5.73% in December 2018
Rupee falls 43 paise to end at near 1-month low against US dollar
The rupee Monday plunged by 43 paise to close at nearly one-month low of 70.92 against the US dollar amid weak industrial output growth data, fall in domestic equity markets and sustained foreign fund outflows. A weak US dollar against major global currencies and fall in crude oil prices, however, capped losses of the domestic currency. At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 70.50 and touched a high of 70.44 per US dollar in early trade. But it pared early gains later and fell to an intra-day low of 70.95 against the US dollar. The domestic currency, however, recovered some lost ground and finally settled for the day at 70.92 per dollar, down 43 paise over its previous closing. This is the lowest closing level since December 17 when the rupee closed at 71.56 per dollar. On Friday, the rupee had weakened by 8 paise to close at 70.49 against the US dollar. HDFC Securities Head PCG & Capital Markets Strategy V K Sharma said weaker economic data,
Yes Bank shares jump over 6 pc, m-cap rises by Rs 2,704 cr
Shares of Yes Bank surged over 6 per cent Monday following reports that executive Rajat Monga and CEO of a foreign bank have been shortlisted to succeed Managing Director and Chief Executive Officer Rana Kapoor. The stock zoomed 6.22 per cent to settle at Rs 195.40 on the BSE. Intra-day, it surged 7.63 per cent to Rs 198. At the NSE, shares of the company jumped 5.83 per cent to end at Rs 195 apiece. The stock was the biggest gainer on both the exchanges during the day. The company's market valuation also moved up by Rs 2,703.63 crore to Rs 45,182.63 crore on the BSE. In terms of equity volume, 82.82 lakh shares of the company were traded on the BSE and over nine crore shares changed hands at the NSE during the day. Currently, Monga is the senior group president of financial markets at Yes Bank. "There are only two names that have been selected by the bank as final candidates for the recommendation of the Reserve Bank to replace incumbent Rana Kapoor who has to step aside on January ..
Retail inflation slows to 18-month low of 2.19 pc in Dec
Retail inflation declined to an 18-month low of 2.19 per cent in December 2018 mainly on account of sliding prices of fruits, vegetables and fuel. The inflation based on the Consumer Price Index (CPI) was 2.33 per cent in November and 5.21 per cent in December 2017. The previous low inflation was 1.46 per cent in June 2017. According to the data released by the Ministry of Statistics and Programme Implementation, food inflation remained in the negative zone at 2.51 per cent compared to (-) 2.61 per cent in the November. The rate of price rise in vegetables, fruits and protein-rich eggs continued to decline. However, there was a marginal increase in prices of meat, fish, and pulses. Fuel and light inflation was 4.54 per cent in December, down from 7.39 per cent in November on back of reduction in prices of petrol and diesel. Another data released earlier in the day showed that inflation based on wholesale prices fell to an eight-month low of 3.80 per cent in December, 2018, on ...
Global Markets: China trade shock hits global stocks, commodities
LONDON (Reuters) - Global stock markets and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world's second-largest economy and sparked fears of a sharper slowdown in global growth.
Wave Estate invests Rs 200 cr to bring affordable housing in Mohali
After 100 per cent sale out of Dream Homes at Wave City in Ghaziabad, Wave Infratech on Monday said it has invested Rs 200 crore to bring the same economical housing under Wave Estate for the real estate market of Punjab.
Confirmed signs of easing growth momentum in most major economies: OECD CLI
Stable growth momentum remains for India
Saudi's Riyad Bank picks Goldman to advise on talks with NCB: sources
DUBAI (Reuters) - Saudi Arabia's Riyad Bank has chosen Goldman Sachs to advise on its merger talks with National Commercial Bank, two sources familiar with the matter said.
Nifty January 2019 futures at modest premium
Turnover in F&O segment rises
Jet Airways shares zoom over 16% on resolution plan reports
Shares of Jet Airways soared over 16 per cent Monday amid reports of likely finalisation of a resolution plan. The stock surged 16.13 per cent to close at Rs 294.40 on BSE. Intra-day, it jumped 17.15 per cent to Rs 297. At NSE, shares of the company zoomed 15.67 per cent to close at Rs 293.40. On the equity volume front, 35.21 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day. Meanwhile, BSE has sought clarification from Jet Airways on January 14, 2019, with reference to news that Jet has rallied on likely finalisation of resolution plan. As per reports, the resolution plan is likely to be finalised after lender's meet this week.
Nepal SBI Bank earns a net profit of Rs 202 crore
Nepal SBI Bank, a subsidiary of State Bank of India, has posted a net profit of Rs 202.35 crore in 2017-18 and mobilised total deposit of Rs 8,422.73 crore, the bank announced at its Annual General Meeting concluded here on Monday. During the 25th Annual General Meeting, the bank announced 10.79 per cent cash dividends and 5 per cent bonus shares to its shareholders out of the profit earned last year. "The bank has attained the present position in banking gradually but steadily in the past 25 years," said a statement issued by the bank on the occasion. The bank, said, it will leverage its position to expand the customer base by exploring new market segments and expanding delivery channels for its products while at the same time, providing customer service of high standard by enabling its employees. "The bank's large network of branches and ATMs will help serve people residing in all areas of Nepal. This wide range of presence helps the bank build up larger customer base with low cost .
Lululemon raises fourth-quarter forecast
(Reuters) - Canadian athletic apparel maker Lululemon Athletica Inc on Monday raised its forecast for fourth-quarter profit and revenue, driven by strong sales during the holiday season.
EbixCash acquires Essel Forex, Weizmann Forex
EbixCash World Money, the Indian subsidiary of US-based software company Ebix Inc, on Monday said it has acquired two India-based companies Essel Forex and Weizmann Forex.