Page 2146 - Business Finance
Almost 2/3 of world stocks now in 'bear' territory, BAML says
(Reuters) - Global stocks are looking oversold, with 63 percent of shares in "bear" market territory, up from 58 percent last week, Bank of America Merrill Lynch said on Friday.
Retail prices of petrol, diesel may reign easy in next few days
As the debate over prices of petroleum products is raging in the country, official sources on Friday expressed hope that the retail prices of petrol and diesel may reign easy in next few days.As per the assessment, the retail prices of petrol and diesel may reign easy in the next few days, they said.The retail selling price of petrol and diesel is dependent on the international prices of petrol and diesel and the Rupee- US Dollar exchange rate. This is because large proportion of country's requirement is met through imports, they added.According to the official sources, the retail prices of petrol and diesel have increased in the recent months due to increase in the international prices and depreciation of rupee.Official sources said that it was decided on October 4, 2018, that Government would reduce the excise duty on petrol and diesel by Rs. 1.50 per litre in order to provide relief to the consumers from escalating prices.Besides, OMCs were asked to reduce their margin of Rs.1 per .
Market slumps on weak global stocks
Key benchmark indices dropped sharply on last trading of the week on weak global stocks. The barometer index, the S&P BSE Sensex, lost 340.78 points or 1.01% at 33,349.31, as per the provisional closing data. The Nifty 50 index lost 94.90 points or 0.94% at 10,030. Intraday volatility was high. Weak global stocks weighed adversely on the domestic bourses.
JSPL to enhance Angul plant's capacity to 20 mtpa by 2030
The Jindal Steel and Power Ltd (JSPL) has set a target to increase its Angul plant's capacity to 20 mtpa by 2030, a top company official said Friday. This was revealed by JSPL chairman Navin Jindal, who earlier in the day met Odisha steel and mines secretary R K Sharma here. "We have plans to invest additional Rs 50,000 crore for enhancing the Angul plant's capacity from 6 mtpa to 20 mtpa in next 12 years," Jindal told reporters. He said this time there would be not much borrowing as the company has decided to make investment from internal sources as well from equity shares from strategic investors. "We will embark upon a new journey from 2021 to increase the Angul plant's capacity from 6 mtpa to 20 mtpa by 2030. The Centre has set a target to produce 300 mtpa steel by 2030-31 and we will also contribute to it," Jindal said. He said the company has prepared the road map for enhancing the capacity of its Angul plant. Claiming that JSPL's Angul plant has been doing very ...
Sensex extends losses as new F&O series opens weak
The BSE Sensex tumbled almost 341 points to end at a fresh seven-month low of 33,349.31 Friday as the November derivatives series began on a subdued note amid weakness in the rupee and negative leads from global markets. On a weekly basis, both key indices Sensex and Nifty recorded their second straight week of losses by falling 966.32 points, or about 3 per cent, and 273.55 points, or 2.7 per cent, respectively. Continuous fall in the rupee, which depreciated to 73.45 (intra-day) against the dollar, and prevailing liquidity crunch remain key dampening factors, brokers said. Most Asian markets skidded to multi-month lows and European shares opened sharply lower on worries over corporate earnings and global growth. Disappointing quarterly earnings from Maruti Suzuki, Yes Bank and a few others accelerated the selling momentum, brokers said. The Sensex moved in the range of 33,776.80 and 33,298.43 before settling down by 340.31 points, or 1.01 per cent, at 33,349.31. This is its lowest ..
Dr. Reddy's second-quarter profit soars past market estimates
(Reuters) - Dr.Reddy's Laboratories posted a better-than-expected rise in second-quarter profit as higher sales in some emerging countries offset a marginal decline in business in North America, a key market for the Indian generic drugmaker.
Analysis: Steel capacity set to expand just as demand growth ebbs
LONDON/TOKYO (Reuters) - Spurred by a steel-price rally, firms are pouring money into new plants that are set to start producing just as growth in demand for the construction material shrinks, industry executives say, challenging the market's prevailing bull narrative.
Arvind gets NCLT approval for scheme of arrangement
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Need to align regulatory standard with best global practices: Rajiv Kumar
Financial Services Secretary Rajiv Kumar Friday said the government is not seeking relaxation in the RBI's Prompt Corrective Action (PCA) framework but emphasised the need to align banking regulations with best global practices. He also said that domestic regulation are more conservative and stringent as compared to international best practices. "Nobody can stand on its leg if you ease anything...Therefore what is being talked about is that it (our regulations) is aligned to best practices, which exist in the world. Take it from the best, align it to it, and don't keep it higher than that. So, no relaxation of any norm," he said when asked if the government has sought relaxation of PCA framework of RBI. PCA framework puts restrictions on financially weak with the objective to halt the deterioration and reverse the trend. As many as 11 out of 21 banks are under the RBI's watchlist. Of these, two banks, Dena Bank and Allahabad Bank, are facing restrictions on business expansion. Last ...
Godawari Power & Ispat standalone net profit rises 173.46% in the September 2018 quarter
Sales rise 56.70% to Rs 712.51 crore
Hindustan Media Ventures standalone net profit declines 70.23% in the September 2018 quarter
Sales decline 2.44% to Rs 205.74 crore
Lakshmi Electrical Control Systems standalone net profit rises 25.83% in the September 2018 quarter
Sales rise 30.62% to Rs 56.10 crore
Empire Industries standalone net profit rises 187.15% in the September 2018 quarter
Sales rise 38.68% to Rs 125.37 crore
Z F Steering Gear (India) standalone net profit declines 17.03% in the September 2018 quarter
Sales decline 0.99% to Rs 108.85 crore
Yes Bank sinks on management woes, IL&FS exposure
(Reuters) - Uncertainty around the succession plans for Yes Bank Ltd's chief executive and exposure to debt-laden Infrastructure Leasing and Financial Services (IL&FS) sent the lender's stock to a four-week low on Friday, a day after it reported a weaker-than-expected quarterly profit.
ITC second-quarter profit rises about 12 percent, beats estimates
(Reuters) - ITC Ltd, India's biggest cigarette maker, posted a near 12 pct rise in September-quarter profit on Friday, boosted by higher cigarette revenue.
New-look China rich help drive billionaire wealth to $8.9 trillion: report
LONDON (Reuters) - The world's billionaires saw their collective wealth rise 19 percent to $8.9 trillion in 2017, led by growth in China, which minted two new billionaires every week, according to a new report.
Dr. Reddy's second-quarter profit surges nearly 70 percent
(Reuters) - Indian drugmaker Dr. Reddy's Laboratories posted a 69.7 percent jump in second-quarter profit on Friday, helped by new product launches.
Varun appointed brand ambassador for Maruti Suzuki Arena
Bollywood actor Varun Dhawan has been announced as the brand ambassador for Maruti Suzuki Arena channel.
Equitas Holdings Ltd leads losers in 'A' group
Ujjivan Financial Services Ltd, Gujarat Mineral Development Corporation Ltd, Yes Bank Ltd and Infibeam Avenues Ltd are among the other losers in the BSE's 'A' group today, 26 October 2018.