Page 2092 - Business Finance
Bank of Baroda shares gain nearly 5 pc post Q2 earnings
Shares of Bank of Baroda Wednesday rose by nearly 5 per cent after the company reported an increase of 19.7 per cent in September quarter profit. The scrip of the company gained 4.59 per cent to Rs 115.05 on BSE. On NSE, shares of the company soared 4.31 per cent to Rs 114.75. State-owned Bank of Baroda Tuesday reported an increase of 19.7 per cent in September quarter profit at Rs 425.38 crore as it marginally improved the non-performing asset (NPA) position. The bank had posted a profit of Rs 355.36 crore in July-September quarter of 2017-18. Bank of Baroda's total income during July-September 2018 quarter stood at Rs 13,429.95 crore, up from Rs 12,490.39 crore in the year-ago period. Net NPA ratio declined to 4.86 per cent as on September 30, 2018 from 5.40 per cent as on June 30, 2018, and 5.05 per cent in the year-ago quarter.
Govt. to divest 3% stake in Coal India
Floor prices for OFS is Rs 266 per share
Cummins India Ltd leads gainers in 'A' group
Torrent Power Ltd, IRB Infrastructure Developers Ltd, UCO Bank and Dewan Housing Finance Corporation Ltd are among the other gainers in the BSE's 'A' group today, 31 October 2018.
Tech Mahindra spurts after good Q2 result
Tech Mahindra surged 7.13% to Rs 732.40 at 11:25 IST on BSE after consolidated profit after tax rose 18.5% to Rs 1064 crore on 4.3% rise in revenue to Rs 8630 crore in Q2 September 2018 over Q1 June 2018.
Sensex falls, set for worst month since February 2016
(Reuters) - Indian shares fell on Wednesday and were set for their worst month since February 2016, as the rupee weakened on speculation that the central bank governor might resign due to a widening rift with the government.
Govt's Coal India OFS opens for institutional buyers; scrip tanks 3 pc
The Government's three per cent stake sale in Coal India at a floor price of Rs 266 apiece opened for bidding by institutional investors Wednesday with a subscription of over 24 per cent shares on offer in initial hours of trade. This is the first big ticket share sale and first offer for sale (OFS) of the government in current fiscal, which will fetch at least Rs 5,000 crore to the exchequer. However, following a broader market trend, Coal India scrip slipped to Rs 266.95 apiece, down 3.24 per cent over previous close on the BSE. The government is selling over 18.62 crore shares or 3 per cent in Coal India Ltd (CIL) at a floor price of Rs 266 apiece. Of this, 14.89 crore share are offered to institutional investors Wednesday. The government also has an option to retain an over-subscription of another 6 per cent stake in the CIL OFS. According to NSE data, subscription for over 3.64 crore shares or 24 per cent of the shares on offer came in by 11:25 am. Bidding will go on till end of .
Global Markets: Asia stocks rise after grim October, set for worst month since 2011
TOKYO/SHANGHAI (Reuters) - Asian stocks were set to end the month up from 20-month lows on Wednesday amid pledges by China to support its domestic markets, but sentiment was fragile after equity markets bled trillions of dollars in a grim October.
Sensex, Nifty pare intraday losses
Key barometers sharply pared intraday losses in mid-morning trade. At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 41.09 points or 0.12% at 33,850.04. The Nifty 50 index was down 24.40 points or 0.24% at 10,174. Trading sentiment was affected amid worsening relationship between the Reserve Bank of India and the government.
ICRA places Z F Steering Gear (India) on 'Rating Watch' with developing implications
Term loan (Rs 50 crore) - ICRA A+; placed on rating Watch with developing implication
Indian Overseas Bank gets ratings revision from ICRA
The ratings consider the majority Government of India ownership and the demonstrated sovereign support through capital infusion over the past few years. ICRA also takes note of the Bank's established retail franchise supporting its good deposit base and adequate liquidity profile.
Baidu's fourth-quarter sales goal misses estimates as regulation, trade fears bite
BEIJING/SAN FRANCISCO (Reuters) - Chinese search engine operator Baidu Inc on Wednesday forecast fourth-quarter sales below analyst estimates, saying new regulations and uncertainty surrounding a Sino-U.S. trade spat has prompted clients to cut back on advertising.
IDFC to sell controlling stake in IDFC Infrastructure Finance to NIIF II
Private lender IDFC Ltd Wednesday said it will sell controlling interest in IDFC Infrastructure Finance Ltd to National Investment and Infrastructure Fund II, for an undisclosed amount. IDFC Ltd, IDFC Financial Holding Company Ltd (IDFC FHCL) and IDFC Infrastructure Finance Ltd (IDFC IFL) have entered into a definitive agreement with National Investment and Infrastructure Fund II (NIIF II) in this regard, IDFC said in a regulatory filing. "Pursuant to the said agreement, NIIF II shall acquire controlling interest in IDFC IFL from IDFC FHCL," the filing added. National Investment and Infrastructure Fund Limited (NIIFL) is an investor-owned fund manager, anchored by the Government of India in collaboration with leading global and domestic institutional investors. It manages over USD 3 billion of capital commitments across three funds including NIIF II, each with its distinct investment strategy, as per the company website. This acquisition will conclude on the receipt of the requisite ..
Team Lease Services consolidated net profit rises 43.03% in the September 2018 quarter
Sales rise 24.56% to Rs 1090.66 crore
Welspun Enterprises consolidated net profit rises 80.06% in the September 2018 quarter
Sales rise 68.36% to Rs 259.97 crore
Geefcee Finance reports standalone nil net profit/loss in the September 2018 quarter
Sales decline 99.01% to Rs 0.02 crore
Volumes soar at AIA Engineering Ltd counter
AIA Engineering Ltd clocked volume of 35310 shares by 10:47 IST on BSE, a 10.73 times surge over two-week average daily volume of 3290 shares
Breadth turns negative amid sudden selling pressure
The market reversed early trend and hit fresh intraday low in morning trade as a sudden selling pressure gripped shares. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 202.04 points or 0.60% at 33,689.09. The Nifty 50 index was down 68.40 points or 0.67% at 10,130. Trading sentiment was affected amid worsening relationship between the Reserve Bank of India and the government.
Coal India drops as Govt to dilute stake through OFS
Coal India lost 3.39% to Rs 266.55 at 10:14 IST on BSE after the government said it will sell stake in Coal India through an offer for sale.
StanChart beats forecasts with 31 percent third-quarter profit jump
HONG KONG/LONDON (Reuters) - Standard Chartered reported on Wednesday a better than expected 31.3 percent rise in quarterly profit before tax, as the British lender attempts to bring down stubbornly high costs and boost flatlining revenues.
Huawei set to launch new tablets, PCs in India
Chinese tech major Huawei plans to bring new tablets and PCs to India in addition to the planned launch of its flagship Mate 20 Pro smartphone, a top company official said at its headquarters here.