Page 2089 - Business Finance
StanChart warns of trade war risks after third-quarter profit beats expectations
HONG KONG/LONDON (Reuters) - Standard Chartered warned on Wednesday an escalating Sino-U.S. trade war was weighing on business sentiment in its core emerging markets, after posting a better than expected 31 percent rise in quarterly profit before tax.
Hindustan Zinc Ltd leads losers in 'A' group
Navin Fluorine International Limited, Vakrangee Ltd, Kwality Ltd and Manpasand Beverages Ltd are among the other losers in the BSE's 'A' group today, 31 October 2018.
Startups Are Future Of India
Startups are future of India, noted Suresh Prabhu, the Minister of Commerce & Industry, according to a latest press release. The Minister went on to say that Indian startups in order to be successful have to learn to convert an idea into a business plan. He further said that the Startup community is the future of India and will be the platform through which the millions of youth of this country will be gainfully employed. Commenting on the partnership, Chris Daniels, Vice President, WhatsApp said that India has a great ecosystem of startups which are making huge impact in all sectors of the Indian economy.
Singapore's PropertyGuru raises $144 million funding from KKR
SINGAPORE (Reuters) - PropertyGuru Group, which operates real estate portals and apps in Southeast Asia, said on Wednesday it has secured a S$200 million ($144 million) investment from private equity firm KKR & Co Inc as it seeks to grow its services.
Soybean prices fall on scanty demand
Soybean prices fell by Rs 15 to Rs 3,318 per quintal in futures trade. At the National Commodity and Derivatives Exchange, soybean for the most-traded delivery in December fell by Rs 15 or 0.45 per cent to Rs 3,318 per quintal. Soybean for delivery in January 2019, also dipped by Rs 12 or 0.35 per cent to Rs 3,410 per quintal.
Market spurts amid positive global cues
The market surged in mid-afternoon trade after the government clarified on tussle with the Reserve Bank of India and said that it respects and nurtures central bank's autonomy. At 14:21 IST, the barometer index, the S&P BSE Sensex, was up 343.12 points or 1.01% at 34,234.25. The Nifty 50 index was up 117.05 points or 1.15% at 10,315.45. Positive global cues also boosted sentiment.
Escorts Q2 profit up 32 pc at Rs 103 cr
Engineering and farm equipment maker Escorts Wednesday posted 32.4 per cent increase in net profit at Rs 102.7 crore for the second quarter ended September 30, 2018. The company had reported a net profit of Rs 77.6 crore in the corresponding period last fiscal. Revenue from operations rose 15.4 per cent to Rs 1,398.4 crore in the reported quarter as against Rs 1,211.7 crore in the corresponding period last fiscal, Escorts said in a statement. "We are also building in strategic technology partnerships to bring in the global best for product efficiency and performance to offer best customer experience," Escorts Chairman and Managing Director Nikhil Nanda said. The company's construction equipment portfolio with recent collaborations has also widened and offers product variability across the applications, he added. "Railways business has a strong order pipeline and is constantly developing technology for sector comfort and safety. We are completely aligned to the national focus on ...
Volumes soar at Indoco Remedies Ltd counter
Indoco Remedies Ltd recorded volume of 1.98 lakh shares by 14:13 IST on NSE, a 7.94 times surge over two-week average daily volume of 24929 shares
Refined soya oil futures dip 0.07pc
Refined soya oil prices for November dipped by 0.07 per cent to Rs 752.8 per 10 kg in futures trading. Similarly, in futures trading at the National Commodity and Derivatives Exchange, refined soya oil for delivery in December fell by Rs 0.75, or 0.1 per cent to Rs 753.2 per 10 kg with an open interest of 30,510 lots. The fall in the prices were mostly due to lack in demand, traders said.
Facebook wants to go big with Stories
Facebook wants to make Stories bigger than its News Feed. At the company's third-quarter earnings call, CEO Mark Zuckerberg stressed on how important Stories is for the growth of Facebook.Stories, which originated on Snapchat first and then imitated over Instagram and WhatsApp, has not been a great success on Facebook's main app. Now, the company expects Stories to outpace News Feed in the near future, Mashable reported.As for the investors, the question remains on how the company will be able to monetize from the Stories format. Meanwhile, Zuckerberg said that soon ads in Stories will perform as well as they do in the News Feed.
Oil rises 1 percent ahead of U.S. sanctions on Iran
LONDON (Reuters) - Oil prices rose more than 1 percent on Wednesday as markets braced for the imposition of U.S. sanctions on Iran next week and as stock markets clawed back some of their recent losses.
Forcepoint opens new Centre of Excellence in Bengaluru
Global cyber security leader Forcepoint on Wednesday announced opening a new Centre of Excellence in Bengaluru for its global customer services and hire 200 people by the end of next year.
Garden Reach sails smoothly after new order win
Garden Reach Shipbuilders & Engineers surged 6.89% to Rs 90 at 14:03 IST on BSE after the company entered into contract with Ministry of Defence for construction and delivery of four survey vessels for Rs 2435.15 crore.
Indices hold gains
Key benchmark indices were trading firm in afternoon trade led by strong gains in index heavyweights HDFC and Infosys. At 13:12 IST, the barometer index, the S&P BSE Sensex, was up 100.79 points or 0.3% at 33,991.92. The Nifty 50 index was up 44.20 points or 0.43% at 10,242.60.
L'Oreal shares surge after company posts higher third-quarter sales
PARIS (Reuters) - L'Oreal's shares rose sharply on Wednesday after the cosmetics and fashion group reported higher third-quarter sales, with turnover driven by booming demand in Asia.
Sensex reclaims 34,000 despite rupee nearing 74
The key domestic indices recovered from early losses on Wednesday, with the S&P BSE Sensex reclaiming the 34,000-mark even as the rupee slipped close to 74 per dollar.
Focussed on security, privacy to help users communicate in everyday life: WhatsApp
WhatsApp Vice President Chris Daniels Wednesday said the company is focussed on values like security and privacy to ensure that its product remains a utility that helps users communicate in everyday life. The Facebook-owned company, which has been asked by the Indian government to put in place a mechanism to clamp down fake messages on its platform, also announced its partnership with Invest India to help entrepreneurs and small and medium enterprises expand their businesses. "...we keep the company focussed on four values -- simplicity, quality, security and privacy. Everything we do in the company focusses on those values and delivering that value to users and ensuring that our product remains a utility that they can use to communicate in everyday life," Daniels said here. Out of WhatsApp user base of 1.3 billion people, more than 200 million people are in India -- the single largest market for the popular messaging platform. The government has been pushing WhatsApp to find a ...
Chidambaram slams Centre for citing never-used clause in RBI Act
Slamming the government for citing a never-used clause of the RBI Act, former Union finance minister P Chidambaram on Wednesday alleged that the BJP dispensation is "hiding facts" about the economy and is "desperate". The senior Congress leader said that the governments he was a part of in the past had never used Section 7 of the Reserve Bank of India Act of 1934, under which a direct order can be issued by the government to the central bank to carry out its wishes in "public interest". "If, as reported, Government has invoked Section 7 of the RBI Act and issued unprecedented 'directions' to the RBI, I am afraid there will be more bad news today. "We did not invoke Section 7 in 1991 or 1997 or 2008 or 2013. What is the need to invoke the provision now? It shows that government is hiding facts about the economy and is desperate (sic)," he said in a series of tweets. The government has sent at least three letters on different issues under Section 7 (1) of the Reserve Bank of India Act ..
Samsung Electronics enjoys record Q3 despite smartphone struggles
Samsung Electronics on Wednesday posted record quarterly operating and net profits as solid demand for its memory chips cushioned the fallout from slowing smartphone sales -- but warned of tougher times ahead. The South Korean tech giant -- the world's top maker of smartphones and memory chips -- has recovered from a series of setbacks, including a humiliating recall and the jailing of its de facto chief, to post a series of record-breaking numbers. The profits have been driven by its mighty semiconductor unit, which provides chips for its own devices as well as competitors including Apple. But that run was coming to an end, Samsung signalled in a statement, saying it expected "overall earnings across the company to decline" in the fourth quarter because of seasonal factors in the semiconductor market. Going into 2019, "earnings are forecast to be weak for the first quarter" for the same reason, it added, before business conditions improved. For July-September, Samsung reported an ...
Oracle Financial Services Software Ltd drops for fifth straight session
The stock is quoting at Rs 3518.2, down 0.1% on the day as on 13:19 IST on the NSE. Oracle Financial Services Software Ltd tumbled 0.4% in last one year as compared to a 1.77% slide in NIFTY and a 36.67% spurt in the Nifty IT index.