Page 2128 - Business Finance
Myntra expands in-house brands portfolio with 'Sztori'
Myntra Monday said it has expanded its in-house brands portfolio with the launch of 'Sztori', a move that will help the Flipkart-owned company tap into the multi-billion plus-size apparel segment. "Post identifying a white space opportunity in the segment, Myntra set out to design and develop merchandise under a new brand to cater to the category and make wearers look fashionable with multiple style options at affordable prices," Myntra said in a statement. The brand will offer a range of products for men and women in large to 4 times large sizes with prices ranging from Rs 799-1,999. "Plus-size clothing is in great demand and it was time we offered something substantial in the category, opening up more avenues and possibilities for our customers," Manohar Kamath, CXO and Head Myntra Fashion Brands, said. He added that research estimates that this segment will account for USD 5-6 billion in the USD 40-billion Indian online fashion apparel market by 2020. "...(this) is approximately ...
India tops as Asia's most investment savvy economy: StanChart
India is Asia's most investment savvy economy and more than two-thirds of the country's affluent class prefer to use various investment products to achieve their financial goals and greater social mobility, says a study. According to a new Standard Chartered study of 11,000 emerging affluent consumers across Asia, Africa and the Middle East, 68 per cent of Indian people belonging to this segment are using investment products to achieve their financial goals, as compared to an average figure of 57 per cent. For the purposes of this study investment products' refers to fixed income investments, stocks, equities, mutual funds, unit trusts, investment-linked insurance, self-invested pension funds, real estate investment trusts (REITS) and real estate property funds. As per the study, the number one financial goal for India's emerging affluents is saving towards their children's education which is also the top savings priority across the markets in the study. "It is exciting to see that ...
Vakrangee Ltd leads losers in 'A' group
Infibeam Avenues Ltd, Indian Energy Exchange Ltd, Hexaware Technologies Ltd and Gujarat Alkalies & Chemicals Ltd are among the other losers in the BSE's 'A' group today, 29 October 2018.
Mr. Gangadharan Unni Kartha Joins Kuliza as Global Delivery Head
/ -- Mr. Gangadharan Unni Kartha joins Kuliza to strengthen its overall delivery and resource management for its flagship product Lend.In Mr. Unni brings over 24 years of experience and expertise in delivery management to Kuliza. Previously, Mr. Unni has held senior leadership positions in leading IT-enabled organizations and multinational banks in the Asia Pacific region. He has led several business transformation programs for banks and was responsible for overall delivery management and resource management to better serve the customers. (Logo: https://mma.prnewswire.com/media/745030/Kuliza_Logo.jpg ) On joining Kuliza, Mr Unni said, "The lending landscape is in the midst of unprecedented transformation and Kuliza is at the forefront of delivering world-class implementations for global financial institutions. I am pleased to add my experience and expertise to the team as the company continues to grow and expand globally. " "Mr. Unni brings tremendous experience and knowledge that ...
Tata Power Q2 net jumps 85% to Rs 393.36 crore
Tata Power Monday reported a 85.11 per cent jump in consolidated net profit at Rs 393.36 crore for the quarter ended September 2018, mainly on account of regulatory income of Rs 274 crore in respect of earlier years. The company had reported a net profit of Rs 212.5 crore in the corresponding quarter last year. Its total income stood at Rs 7,437.18 crore in the quarter ended September 2018. It was Rs 7,006.74 crore in the second quarter of 2017-18, Tata Power said in a BSE filing. The company said during the quarter ended September 2018, pursuant to receipt of true-up tariff order from the regulatory commission for the years 2014-15, 2015-16 and 2016-17, it has recognised net income of Rs 92 crore comprising of a credit of Rs 274 crore in regulatory income and a charge of Rs 182 crore to revenue from operations. Shares of Tata Power were trading 14.29 per cent higher at Rs 78.80 apiece on the BSE.
Indian Construction Equipment sector grew 24% in FY18: ASSOCHAM-Feedback study
The Indian Construction Equipment industry grew despite the hiccups of emission and GST during April and July 2017, respectively. Demonetisation also had a negligible effect on the industry growth, conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with consulting firm Feedback.
Volumes jump at J K Cements Ltd counter
J K Cements Ltd saw volume of 6.19 lakh shares by 14:14 IST on NSE, a 67.32 fold spurt over two-week average daily volume of 9201 shares
Invest in India, Modi tells Indian community
Prime Minister Narendra Modi on Monday urged the Indian community in Japan to invest in India to maintain cultural ties with their motherland.
Engage more with India, Modi tells Japanese businessmen
Prime Minister Narendra Modi on Monday invited Japanese businessmen to engage more with India to speed up the investment process in New Delhi.
Huge potential in ICT, aerospace, healthcare, agri, infra to boost eco ties with India: Italy
Huge potential exists in sectors like information and communications technology (ICT), aerospace, healthcare, agri, infrastructure and transport to boost trade and investments between India and Italy, a top Italian official said Monday. Italy's Deputy Minister for Economic Development Michele Geraci said that his government is finalising a programme to attract more foreign investments by cutting red-tape, increasing fiscal incentives, and speeding up the procedures of legal disputes. "Italy and India are two countries with an enormous potential of cooperation - from ICT to aerospace, from healthcare to agri-food and food processing, from infrastructure and transport to energy and green economy," Geraci told PTI in an e-mail interview. He said that all these fields would become the main pillars of future economic bilateral cooperation between the two nations. The Italian minister said that Indian IT engineers are among the best-skilled in the world and they can help Italy in pushing ...
Digitalisation to make most financial firms irrelevant by 2030: Gartner
Nearly 80 per cent of heritage financial services firms globally will go out of business, become commoditised or exist only formally but not competing effectively by 2030, Gartner said on Monday.
Shares trade with small gains
Key benchmark indices were trading with small gains in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 61.03 points or 0.18% at 33,410.34. The Nifty 50 index was up 14.50 points or 0.14% at 10,044.50.
Divi's Labs gallops after stellar Q2 result
Divi's Laboratories jumped 13.32% to Rs 1,420.90 at 14:12 IST on BSE after net profit surged 92.31% to Rs 397.65 crore on 47.77% rise in total income to Rs 1365.05 crore in Q2 September 2018 over Q2 September 2017.
Sensex up 530 points over value buying; banking stocks gain
Despite negative global cues and lingering macro economic woes, the key domestic indices -- the S&P BSE Sensex and NSE Nifty50 -- gained over 1.50 per cent on the back of value buying by investors during the afternoon session on Monday.
Tata Power second-quarter profit soars 88.5 percent
(Reuters) - Tata Power Co Ltd posted an 88.46 percent surge in second-quarter profit on Monday, underpinned by higher revenue from its power business.
ICICI Bank in focus after weak Q2 result
ICICI Bank's net profit dropped 55.84% to Rs 908.88 crore on 2.67% fall in total income to Rs 18262.12 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours on Friday, 26 October 2018.
S&P ratings relief lifts Italy's bond market
LONDON (Reuters) - Italy's 10-year government bond yield fell to a one-week low on Monday, narrowing the gap over safer German peers, on relief that ratings agency Standard & Poor's left the country's credit rating unchanged.
Motherson Sumi Systems Ltd down for fifth straight session
The stock is quoting at Rs 224.4, down 0.69% on the day as on 13:19 IST on the NSE. Motherson Sumi Systems Ltd tumbled 38.5% in last one year as compared to a 1.78% slide in NIFTY and a 24.04% fall in the Nifty Auto index.
HSBC sees little impact on Saudi Arabia investment after Khashoggi murder-CEO
LONDON (Reuters) - Saudi Arabia is unlikely to see significant impact on its foreign trade and investment flows following the killing of journalist Jamal Khashoggi, the chief executive of Europe's biggest bank HSBC said on Monday.
Lenovo Announces Partnership With NetApp at Transform 2.0 in India
/ -- At Transform 2.0, Lenovo (HKSE: 992) (ADR: LNVGY) announced a series of partnerships and solutions designed for business customers that demonstrate the company's ongoing Intelligent Transformation strategy. The strategy reflects Lenovo's unique business perspective on how to build end-to-end solutions with smart features that transform businesses and improve the user experience. Intelligent Transformation will reinvent and restructure entire systems of production, management, and governance worldwide. It is driven by emerging technologies, including artificial intelligence, augmented reality, the Internet of Things, blockchain and 5G connectivity. Lenovo excels in these competencies - based in the cloud, distributed through infrastructure, including networks and delivered by devices. The announcements respond to the appetite for new devices and computers that meet the demands of customers and consumers, harnessing the potential of data, cloud computing and machine learning. Yang .