Page 2006 - Business Finance
India October services activity jumps, boosted by stronger orders
(Reuters) - Activity in India's dominant services sector increased at its fastest pace in three months in October, driven by a strong pick-up in new business, a private survey showed on Monday.
Sale of IL&FS group among multiple options: Official
The government is considering the sale of IL&FS as a group among other options as a way out for the defaulting infrastructure lending company, Corporate Affairs Secretary Injeti Srinivas said on Monday.
Government says some shadow lenders face liquidity stress, puts pressure on RBI to ease
NEW DELHI (Reuters) - A top Indian government official on Monday said the nation's non-banking housing finance companies were facing liquidity stress, in comments that are likely to put more pressure on the Indian central bank to ease its policy towards the sector.
Cipla warns of headwinds in second half after second-quarter profit miss
(Reuters) - Cipla Ltd, India's second-largest drugmaker by market capitalisation, warned on Monday of "multiple headwinds" in the second half of the financial year after its quarterly profit fell short of analysts' estimates.
Oil market on alert as Iran sanctions hit
US sanctions against importers of Iranian oil threaten the crude oil market's precarious balance and risk surging prices, all under Saudi Arabia's watchful gaze, according to experts. "In the next weeks all eyes will be on Iranian exports, whether there will be some cheating around US sanctions, and on how quickly production will fall," said Riccardo Fabiani, an analyst for Energy Aspects. The US will from Monday target buyers of Iranian oil in order to deprive Tehran of its main source of income. Going after Iran's oil money will hit Tehran where it hurts, but it also means hitting a major pillar of the global oil market -- Iran is the OPEC cartel's third-largest producer -- with major consequences for world supply. Iran exported the equivalent of 2.5 million barrels a day in April, before the announcement of sanctions turned buyers away. "Even if the United States grants exemptions, Washington will demand that the volume imported from Iran be significantly reduced," said UBS analyst
FinTech NBFC Vivifi India Finance Scores 20,000 FlexSalary' Accounts in First Year of Operations
/ -- Two-third borrowers are below-prime individuals looking for emergency credit line Vivifi India Finance Private Limited (Vivifi), one of India's only few fintech non-banking finance companies (NBFC) to provide credit to non-prime borrowers, has achieved major traction across India in first year of its operations. Vivifi's flagship offering, FlexSalary, India's first emergency line of credit for those who need it most but find it difficult to avail the credit, has found takers across major cities and towns in India. (Logo: https://mma.prnewswire.com/media/779616/Flexsalary_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/779617/Vivifi_Logo.jpg ) Vivifi launched FlexSalary in August 2017 and in one year, the company is doing monthly run rate of 25,000 applications. The web traffic on http://www.FLEXSALARY.com has reached almost 3,00,000 unique visitors. While the initial web traffic/inquiries were from Telangana, the company now receives web traffic and loan applications from ...
Sensex down 150 points, rupee at 73
Broadly negative Asian markets and profit booking pushed the key equity indices in the red during the afternoon session of the trade on Monday.
LCR Capital Receives Multiple I-526 Approvals for Investors in its Four Seasons at the Surf Club Miami Project
/ -- LCR Capital Partners announced today that multiple I-526 approvals have been received by investors in its Four Seasons Hotel & Private Residences at the Surf Club project located in Miami Beach, FL. The I-526 approvals represent the completion of the first stage of the EB-5 immigration process for investors. These first approvals came in only 18 months - the United States Citizenship and Immigration Services' (USCIS) current average I-526 approval time is between 21 and 26 months. "We are excited to see I-526 approvals for our Four Seasons project," said Suresh Rajan, LCR Capital's CEO. "This is tremendous news for the 140 investors (and counting) involved in the project and provides an additional layer of confidence for future EB-5 project investors. We are happy for our clients and their families and look forward to continuing to serve them through the rest of the EB-5 process." LCR Capital is contributing a $100 million EB-5 loan investment in Fort Partners' development of
Dabur India Ltd down for fifth straight session
The stock is quoting at Rs 365.05, down 1.19% on the day as on 13:19 IST on the NSE. Dabur India Ltd jumped 6.57% in last one year as compared to a 0.59% rally in NIFTY and a 10.88% spurt in the Nifty FMCG index.
Asian markets retreat as trade deal euphoria fades
Asian markets fell Monday after Donald Trump's top economics adviser downplayed the chances of a quick deal to end the China-US trade war, taking the wind out of the sails of last week's rally. The US leader fuelled a surge in the region's equities Friday by tweeting that he had held positive talks with Chinese President Xi Jinping, before a report said he had even asked officials to draw up a draft bill with an eye on a potential agreement. But White House adviser Larry Kudlow later tempered expectations, telling CNBC "there's no massive movement to deal with trade". The news sent US markets into the red, snapping a three-day rally on Wall Street, and sending Asian investors rushing for the door. "Investors are far too wary of an empty promise," said Stephen Innes, head of Asia-Pacific trade at OANDA. "But ultimately, they will need to decide how much of President Trump's olive branch to China was a ploy to boost equity markets ahead of the US mid-term elections on Tuesday and how ...
Nifty, Sensex slip as financials, energy drag
(Reuters) - Indian shares fell on Monday in line with broader Asian markets after posting their best week since mid-2016, as investors were subdued ahead of a key U.S. Federal Reserve meeting.
NMDC Ltd rises for third straight session
The stock is quoting at Rs 116, up 1% on the day as on 12:49 IST on the NSE. NMDC Ltd is down 11.21% in last one year as compared to a 0.63% jump in NIFTY and a 12.69% jump in the Nifty Metal index.
Hindalco Industries Ltd soars 1.41%, rises for third straight session
The stock is quoting at Rs 243.85, up 1.41% on the day as on 12:49 IST on the NSE. Hindalco Industries Ltd is down 10.66% in last one year as compared to a 0.63% gain in NIFTY and a 12.69% gain in the Nifty Metal index.
Maruti Suzuki India Ltd spurts 1.26%, rises for third straight session
The stock is quoting at Rs 7225.05, up 1.26% on the day as on 12:49 IST on the NSE. Maruti Suzuki India Ltd is down 13.06% in last one year as compared to a 0.63% gain in NIFTY and a 20.15% gain in the Nifty Auto index.
Cipla quarterly profit dips nearly 11 percent, misses estimate
(Reuters) - Drugmaker Cipla Ltd posted a nearly 11 percent fall in second-quarter profit on Monday, much lower than analyst expectations.
Denis Chem Lab standalone net profit rises 331.71% in the September 2018 quarter
Sales rise 11.79% to Rs 32.70 crore
Goldcoin Health Foods reports standalone nil net profit/loss in the September 2018 quarter
Sales decline 20.00% to Rs 0.20 crore
Aaswa Trading and Exports reports standalone net profit of Rs 0.10 crore in the September 2018 quarter
Sales reported at Rs 0.67 crore
Market Creators standalone net profit rises 500.00% in the September 2018 quarter
Sales decline 24.07% to Rs 1.23 crore
Abirami Financial Services (India) reports standalone nil net profit/loss in the September 2018 quarter
Reported sales nil