Page 1989 - Business Finance
Lilly lifts earnings forecast as newer drugs provide boost
(Reuters) - Eli Lilly and Co topped Wall Street estimates for third-quarter profit on Tuesday and raised its yearly earnings target, led by stronger demand for its newer drugs such as diabetes treatment Trulicity and psoriasis medicine Taltz.
Pakistan to begin talks with IMF over yet another bailout
ISLAMABAD (Reuters) - Pakistan begins nearly two weeks of talks with the International Monetary Fund on Wednesday over what would be the South Asian country's 13th IMF bailout since the 1980s to help it end a spiralling current account crisis.
Adecco says global economic uncertainty is affecting hiring
ZURICH (Reuters) - Adecco Group, the world's biggest staffing group, said hiring had slowed since the start of the fourth quarter, confirming a weaker trend as economic uncertainty makes companies more cautious.
Rahul urges RBI Governor to stand up to government pressure
Congress President Rahul Gandhi on Tuesday urged Reserve Bank of India Governor Urjit Patel to stand up to the government that is asking the central bank for money to "fix the mess his (Prime Minister Narendra Modi's) genius economic theories have created".
ADIA, Citi analysts see ample oil supply to withstand Iran sanctions
ABU DHABI (Reuters) - U.S. sanctions on Iran are unlikely to impact the oil market due to a glut in supplies globally, but Iran's production capacity could be hit due to a possible squeeze in investments, the head of research at Abu Dhabi Investment Authority (ADIA) said.
Aditya Birla Capital Q2 net down 13% at Rs 195 crore
Aditya Birla Capital Tuesday reported a fall of over 13 per cent in consolidated net profit at Rs 195 crore for the second quarter of 2018-19. The company had registered a net profit of Rs 225 crore in the July-September period of 2017-18. Total revenue rose to Rs 3,590 crore in the reported quarter as against Rs 2,699 crore in the same period of 2017-18, it said in a regulatory filing. Aditya Birla Capital Ltd (ABCL) is the holding company of all the financial services businesses of the Aditya Birla Group. It has various entities engaged in the business of providing life insurance, asset management, private equity, corporate lending, structured finance, project finance, general insurance broking, wealth management, equity, currency and commodity broking and online personal finance management, among others. Stock of the company closed 0.94 per cent up at Rs 107.30 on BSE.
Power Grid board approves investments of Rs 911 cr
State-run Power Grid Tuesday said its board has approved investments of Rs 911.43 crore. As per a BSE filing, the board has approved system strengthening scheme at Tuticorin-11 and Bhuj PS at a cost of Rs 496.11 crore with commissioning schedule of 15-19 months from the date of investment approval. Besides, investment of Rs 241.38 crore was approved for for reliable communication scheme under central sector for northern region with commissioning schedule of 36 months. Reliable communication scheme under central sector for southern region was also cleared at an estimated cost of Rs 173.94 crore.
India raises trade deficit issue with China, seeks more market access
India on Tuesday expressed concerns over its increasing trade deficit with China and asked Beijing to give Indian products more access to the Chinese market in the fields of pharmacy, agriculture and information technology.
Qatar's ruler hopes Gulf crisis will end for sake of region
DOHA (Reuters) - Qatar's ruler voiced hope on Tuesday the country's bitter dispute with Saudi Arabia and its Arab allies would pass, saying it had harmed regional security by weakening a Gulf Arab bloc.
Thomson Reuters reports slightly higher quarterly revenue
TORONTO (Reuters) - Thomson Reuters Corp on Tuesday reported a 3 percent rise in quarterly revenue, excluding the effects of exchange rates, driven by higher sales at its Legal business, and said that it was on track to deliver a "solid" full-year performance.
Euro zone economy slowing, but not as much as feared
LONDON (Reuters) - Euro zone business growth slumped to a two-year low in October as growing trade tensions and tariffs, alongside rising political uncertainty, put a dent in exports and optimism, a survey showed on Tuesday.
Petrobras earnings soar on oil price rise, weaker currency
RIO DE JANEIRO (Reuters) - Brazil's state-controlled oil company Petroleo Brasileiro SA reported a surge in third-quarter net profit, helped by a pick-up in oil prices and the weakening of the real currency, the company said on Tuesday.
Deutsche Post says restructuring will start to pay off next year
BONN, Germany (Reuters) - Deutsche Post DHL Group expects a restructuring at its troubled post and parcel division to start bearing fruit next year, as it reported a smaller-than-expected decline in third-quarter operating profit.
Nifty November 2018 futures at premium
Turnover in F&O segment surges
Sri Krishna Constrc (India) to hold AGM
On 30 November 2018
Sensex ekes out small gains; Nifty end almost flat
Amid a divergent trend among various index constituents, the key benchmark indices settled with small gains. The Sensex settled a tad below the psychological 35,000 level after moving above and below that level amid volatility in intraday trade.
Quick Wrap: Nifty PSU Bank Index falls 2.23%
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Comviva Launches Unified Digital Experience Platform (UDxP)
/ -- A consolidated digital services delivery platform to accelerate an operator's transformational journey Empowers retail and enterprise customers to control and manage multiple services via digital self-care Comviva, the global leader in providing mobility solutions, has released a powerful, yet simple to use, Unified Digital Experience Platform (UDxP) that will accelerate a CSP's journey into digital services, by enabling them to deliver an integrated, automated, intelligent bouquet of services to customers, while ensuring a frictionless experience across channels. (Logo: https://mma.prnewswire.com/media/721519/Comviva_Logo.jpg ) Telecom service providers have provided the backbone to digitization for many industries. However, they have been slow to digitize their own operations and offerings, putting them at risk of becoming minor players in the emerging digital economy, leading them to lose market share and revenues. Comviva's UDxP platform will help operators rise up the value .
Manappuram Finance Q2 net jumps 41 pc to Rs 224 crore
Manappuram Finance Tuesday reported 41 per cent jump in consolidated net profit at Rs 224 crore for the quarter ended September 30, 2018. The company's net profit during July-September, 2017-18 stood at Rs 159.25 crore. Total income during the reported period went up to Rs 1,027.52 crore as against Rs 840.13 crore in year-ago quarter, the company said in a regulatory filing. On standalone basis, the net profit stood at Rs 193.80 crore during the reported quarter, up from Rs 170.71 crore in year-ago period. Standalone income rose to Rs 850.87 crore from Rs 717.99 crore. The company also declared an interim dividend of 55 paise per equity share of Rs 2 each. Stock of the company closed 2.25 per cent down at Rs 82.60 on BSE.
Sensex, Nifty end flat ahead of Muhurat Trading on Wednesday
Ahead of the Muhurat Trading along with the festivities of Diwali, the markets on Tuesday ended on a flattish note, with the Nifty holding 10,500-mark.During the close, Sensex closed up 40.99 points at 34991.91, while the Nifty ended higher by 6.00 points at 10530.00.Among sectors, which did not perform well were, automobiles, banks, consumption and PSU banks looked attractive.However, energy, IT and infrastructure gained the most.Yes Bank, TCS, and Zee Entertainment were the top gainers, while Vedanta, SBI, and Cipla lost the most, reported the Moneycontrol.On the results front, Voltas reported a net profit of Rs. 107 crore for the September quarter, a jump of 12 percent year on year to the profit of Rs 95.36 crore that was reported a year ago.The manufacturer of air conditioners posted revenue of Rs 1,421.36 crore for the quarter under review.