Page 1368 - Business Finance
Nu Tek India Ltd leads losers in 'B' group
Kirloskar Electric Company Ltd, Kanani Industries Ltd, SMS Lifesciences India Ltd and Ansal Housing Ltd are among the other losers in the BSE's 'B' group today, 10 January 2019.
Volumes jump at Indian Energy Exchange Ltd counter
Indian Energy Exchange Ltd witnessed volume of 8.97 lakh shares by 14:14 IST on NSE, a 19.74 times surge over two-week average daily volume of 45419 shares
Jaguar Land Rover to cut 5,000 UK jobs: Report
Jaguar Land Rover is set to announce up to 5,000 job cuts on Thursday, the BBC reported, after being buffeted by slumping sales in China and concerns over Brexit. The iconic British carmaker, which is owned by India's Tata Motors and employs more than 40,000 people in Britain, could not immediately be reached for comment when contacted by AFP. Marketing, management and administration roles are expected to be those most affected, the BBC report said. According to the broadcaster, the job layoffs are part of a ?2.5 billion (USD 3.2 billion, 2.75 billion euro) cuts programme. The report said JLR had been hit by a slump in Chinese sales, a downturn in diesel vehicle sales and fears about Britain's competitiveness after Brexit. The carmaker has already moved to ensure it will still have a plant inside the European Union after Britain's planned departure from the bloc on March 29. In October, JLR opened a 1.4-billion-euro (USD 1.6-billion) factory in Nitra, western Slovakia, its first in ...
Saudi Arabia passes bond test as investors look past Khashoggi
DUBAI (Reuters) - Saudi Arabia drew a strong response on Wednesday in its first test of international bond market sentiment since coming under intense scrutiny in October from foreign governments and investors over the murder of journalist Jamal Khashoggi.
Volkswagen says sold record 6.24 million vehicles worldwide in 2018
BERLIN (Reuters) - German carmaker Volkswagen on Thursday said it had sold a record 6.24 million vehicles around the world last year, a 0.2 percent increase compared with 2017.
New York's Chrysler Building put up for sale
Chrysler Building, the art deco skyscraper that has been a key part of the New York city skyline for nearly 90 years, is up for sale.
Indices decline further; breadth turns negative
The Sensex and the Nifty hit fresh intraday low in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 111.67 points or 0.31% at 36,101.24. The Nifty 50 index was down 48 points or 0.44% at 10,807.15. Investors booked profits after market gained in past four trading sessions. Negative global cues also spoiled sentiment.
Tibet receives over 30 mn tourists in 2018
More than 30 million tourists visited Tibet in 2018, up 31.5 per cent year-on-year, an official report revealed on Thursday.
Continental enhances production of airbag control units in India
Technology firm Continental Thursday said it has added a second assembly line at its Bangalore-based plant to manufacture airbag control units (ACUs) to cater to enhanced demand. The company has taken the step as airbag business in India is growing steadily and being driven by legislation and consumer organisations. "We are continuing to invest in India to support its growing market. With the increase in safety awareness and legislative norms in India, demand for safety technologies is at an all-time high," Continental Automotive India Managing Director Prashanth Doreswamy said in a statement. Continental is prepared to address this need, he added. "We are fully committed to making mobility safer in India, and to supporting OEMs in adopting technologies efficiently," Doreswamy added. The company said its first assembly line for ACUs started production in 2016 and is currently working at full capacity, supplying to domestic market and exporting to Japan and Thailand. "Adding the second
Castor seed prices up by Rs 8 on firm bets
Castor seed prices rose by Rs 8 to Rs 5,340 per quintal in futures trade Thursday after investors widened their bets amid firm trends. Marketmen said apart from rising demand from consuming industries, shortage of stocks in the spot markets mainly influenced the castor seed futures here. At the National Commodity and Derivatives Exchange, castor seed for delivery in February was trading higher by Rs 8, or 0.15 per cent, to Rs 5,340 per quintal, clocking an open interest of 1,07,280 lots. Castor seed for delivery in March rose by Rs 26, or 0.48 per cent, to Rs 5,420 per quintal having an open interest of 3,200 lots.
Silver futures surge 0.38% on global cues
Silver futures rose by 0.38 per cent to Rs 39,670 per kg Thursday after speculators raised bets, driven by a firm trend overseas. At the Multi Commodity Exchange, silver for delivery in March was trading higher by Rs 149, or 0.38 per cent, to Rs 39,670 per kg in a business turnover of 1,234 lots. In a similar manner, the white metal to be delivered in far-month May rose by Rs 172, or 0.43 per cent, to Rs 40,213 per kg in 2,142 lots. Analysts said widening of positions by traders in sync with a firm trend overseas mainly influenced the silver prices at futures trade here. In the international market, silver traded higher at USD 15.75 an ounce in Singapore.
Sensex, Nifty trade lower over sharp rise in crude oil prices
Sensex and Nifty traded lower during the afternoon session of the trade on Thursday over a sharp rise in crude oil prices and decline in financial stocks.
Toll collections may witness double-digit growth in FY'20: ICRA
Toll collections are likely to witness a double-digit growth in the next financial year, propelled by an increase in commercial vehicle sales and wholesale price index (WPI), rating agency ICRA said Thursday. "Driven by strong growth in medium and heavy commercial vehicles (M&HCV), along with an increase in WPI, toll collections are likely to witness a significant growth in 2019-20," ICRA said in a statement. A high growth in automotive sales would subsequently lead to growth in traffic volumes, it said. Typically, commercial vehicles account for around 65-70 per cent of the total vehicular movement on a majority of national highways. Passenger vehicles account for the remaining 30-35 per cent. The latest commercial vehicle (CV) sales trend is encouraging with the M&HCV cargo segment witnessing a robust growth of 38 per cent during first eight months of 2018-19, Rajeshwar Burla, Assistant VP & Associate Head, Corporate Ratings, ICRA said. "Further, the average increase in .
Norway considering whether to exclude Huawei from building 5G network
OSLO (Reuters) - Norway is considering whether to join other western nations in excluding China's Huawei Technologies from building part of the Nordic country's new 5G telecommunications infrastructure, its justice minister said on Wednesday.
Bandhan Bank third-quarter profit rises 10 percent, but asset quality worsens
(Reuters) - India's Bandhan Bank Ltd, which is set to buy mortgage provider Gruh Finance Ltd, posted a 10.4 percent rise in third-quarter profit on Thursday, boosted by a surge in interest income.
Bandhan Bank Q3 net profit rises 10 pc to Rs 331 cr
Private sector lender Bandhan Bank Thursday reported a 10.3 per cent rise in net profit to Rs 331.25 crore for the third quarter ended December 31, 2018. The bank had recorded a net profit of Rs 300.04 crore in the October-December quarter of last fiscal. Total income of the lender also increased to Rs 1,883.65 crore during the October-December 2018 as against Rs 1,336.42 crore over the corresponding period of the previous fiscal, Bandhan Bank said in a statement. The gross non-performing assets (NPAs) rose to 2.41 per cent of the total advances during the quarter, against 1.67 per cent at the end of third quarter of the previous fiscal. However, net NPAs of the bank declined to 0.80 per cent in the quarter from 0.70 per cent of the net advances. During the December quarter, the Net Interest Income (NII) grew by 53.5 per cent at Rs 1,124 crore as against Rs 732 crore in the corresponding quarter of the previous year. Net Interest Margin (NIM) for the December quarter stood at 70.3 per
China December export growth seen cooling again, import pace seen faster: Reuters poll
BEIJING (Reuters) - China's December export growth likely cooled for a second month as global demand eased and front-loading of U.S.-bound cargoes faded, which could give Beijing more incentive to defuse trade tensions with the United States.
Oil drops by 1 percent on U.S. supply surge, caution after U.S.-China trade talks
SINGAPORE (Reuters) - Oil prices fell by more than 1 percent on Thursday on swelling U.S. supply and amid caution after talks between the United States and China finished without any concrete details on a resolution to their trade disputes.
GST Council meeting underway, major relief expected for MSMEs, housing, cement industry
The 32nd meeting of the GST Council has started in New Delhi on Thursday. Chaired by Finance Minister Arun Jaitley, the meeting aims to provide relief to small tax payers.Amongst the key proposals that will be taken up for discussion on Thursday include raising the annual revenue threshold for GST from the current Rs. 20 lakh to Rs. 75 lakh for MSMEs and lowering the GST rates on under-construction houses and flats from the current 12 per cent to 5 per cent. The GST on cement is also likely to be reduced to 18 per cent from the current 28 per cent.Also on the agenda is the raising of turnover limit for businesses availing composition scheme from the current Rs 1 crore to Rs 1.5 crore. The ministers are also likely to extend the composition scheme to service providers with Rs 50 lakh annual turnover.
EEPC for timely, affordable bank credit for exporters to boost shipments
The Reserve Bank and the government need to ensure timely and affordable bank credit for exporters to boost outbound shipments, EEPC India said Thursday. Engineering Exports Promotion Council (EEPC) said there was a sharp annualised drop of over 54 per cent in the gross bank credit deployment in the export sector. "Against a gross credit deployment of Rs 434 billion (Rs 43,400 crore) till October-end 2017, the figure dropped 54.6 per cent year-on-year to Rs 197 billion (Rs 19,700 crore) in 2018," the council said in a statement. EEPC India Chairman Ravi Sehgal said while several global factors such as trade war between the US and China and uncertainties over Brexit are hitting the export demand, the cost of credit remains a big concern for exporters. "Subdued flow of credit is also seen in the engineering segment as well, as per RBI data. Credit is the lifeline of the industry and exporters and the situation need to be addressed sooner than later," he added. Besides, exporters are ...