Page 2147 - Business Finance
ITC Q2 profit up 12% at Rs 2,955 cr
Diversified group ITC Friday reported 11.92 per cent rise in standalone net profit to Rs 2,954.67 crore for the quarter ended September 30, 2018. The company had posted a net profit of Rs 2,639.84 crore in the second quarter of 2017-18, ITC said in BSE filing. Revenue from operations stood at Rs 11,272.51 crore as compared to Rs 9,763.92 crore in the year-ago period. Shares of ITC were trading at Rs 278.50 per scrip on BSE, down 3.05 per cent from the previous close.
Tainwala Chemicals & Plastics (India) Ltd leads losers in 'B' group
RPP Infra Projects Ltd, Poddar Housing & Development Ltd, Shakti Pumps (India) Ltd and Sambhaav Media Ltd are among the other losers in the BSE's 'B' group today, 26 October 2018.
Sterlite Tech Leverages Red Hat Technology to Enable Programmable Networks of the Future
/ -- The Company will develop open and agile solutions that help accelerate digital transformation in the global communications industry Sterlite Tech [BSE: 532374] [NSE: STRTECH], a global data networks solutions company, today announced that it will develop and deliver software-enabled programmable solutions using Red Hat's portfolio of open, enterprise-grade technologies. The solutions will enable communication service providers, enterprises and citizen networks to realise the full potential of web-scale Network Function Virtualisation Infrastructure (NFVI) platform, for their network automation and Software Defined Network (SDN) initiatives. (Logo: https://mma.prnewswire.com/media/568301/Sterlite_Logo.jpg ) Given the volume and variability in data demand by end users in today's digital landscape, the networks of today and tomorrow need to be higher-speed, more secure, programmable and more reliable. To enable this, Sterlite Tech will leverage Red Hat's suite to help develop a ...
IT stocks slide
Fresh selling in index pivotals once again pulled the key benchmark indices near intraday low in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 269.50 points or 0.8% at 33,420.59. The Nifty 50 index was down 80.75 points or 0.8% at 10,044.15. Intraday volatility was high. IT stocks declined.
ITC slips after Q2 earnings
ITC fell 3.39% to Rs 277.50 at 14:28 IST on BSE after net profit rose 11.93% to Rs 2,954.67 crore on 14.80% increase in total income to Rs 11,776.63 crore in Q2 September 2018 over Q2 September 2017.
Volumes spurt at Equitas Holdings Ltd counter
Equitas Holdings Ltd notched up volume of 603.5 lakh shares by 14:14 IST on NSE, a 42.26 fold spurt over two-week average daily volume of 14.28 lakh shares
Singapore fuel oil margins near record as crude tumbles, supplies shrink
SINGAPORE (Reuters) - Asian fuel oil refining margins climbed to a near record high on Friday, boosted by falling crude oil prices and tightening supplies of the fuel amid refinery upgrades and looming U.S. sanctions on Iranian oil exports next month.
RBS sets $128 million aside to cover Brexit uncertainty
LONDON (Reuters) - Royal Bank of Scotland has set an extra 100 million pounds ($128 million) aside to account for possible bad loans as a result of Brexit uncertainty, in the first concrete sign this is clouding the outlook of a big British bank.
World stocks head for worst losing streak in over half a decade
LONDON (Reuters) - Global stocks slid lower on Friday and were set for their worst week in more than five years, as anxiety over corporate profits added to fears about global trade and economic growth.
Raymond spurts after decent Q2 outcome
Raymond rose 11.97% to Rs 694.50 at 14:10 IST on BSE after consolidated net profit rose 4.76% to Rs 65.20 crore on 15.81% rise in net sales to Rs 1847.75 crore in Q2 September 2018 over Q2 September 2017.
Maruti ropes in Varun Dhawan as brand ambassador for Arena network
Maruti Suzuki India (MSI) Friday said it has roped in Bollywood star Varun Dhawan as brand ambassador for its Arena sales channel. The company retails models like Swift, Virata Brezza and Dzire from the Arena channel while others like Baleno, Ciaz and S-Cross are sold from the Nexa dealerships. MSI is currently working on transformation of its retail network across the country under the Arena label. "Varun exemplifies the evolving Indian youth who is trendy, social and confident and like to be connected at all times," MSI Senior Director Marketing & Sales RS Kalsi said in a statement. Over 100 new Maruti Arena showrooms are already operational in just one year of launch of the initiative, MSI said.
Reliance General Q2 profit up 20% at Rs 56 crore
Reliance General Insurance Company (RGI) Friday reported 20 per cent rise in profit at Rs 56 crore for the second quarter ended September 30, 2018. Gross written premium too surged 20 per cent to Rs 2,025 crore during the quarter, it said in a statement. RGI said its market share in the general insurance business rose to 4.5 per cent from 4.3 per cent in the second quarter of 2017-18. Combined ratio improved to 106 per cent in the reported quarter from 109 per cent in the year-ago period, it added. "The industry will benefit from favourable regulatory enactments such as compulsory long term insurance for motor vehicles and enhancement in the compulsory personal accident cover. "We remain focussed on our journey of profitable growth. For the second quarter this fiscal, our premium grew 20 per cent against industry growth of 13 per cent," RGI ED & CEO Rakesh Jain said. RGI, a wholly-owned subsidiary of Reliance Capital, offers insurance solutions for motor, health, home, property, ..
Edelweiss Financial Services net jumps 53 pc to Rs 276 crore in Q2
Edelweiss Financial Services Ltd (Edelweiss) Friday reported a jump of 53 per cent in its consolidated net profit at Rs 276.38 crore in second quarter ended September driven by a healthy core income. The company had registered a net profit of Rs 180.88 crore in the similar July-September period of 2017-18. Total income (consolidated) during the period grew to Rs 2,672.59 crore in the September quarter of 2018-19, as against Rs 2,030.23 crore in the same period of the preceding fiscal, Edelweiss said in a regulatory filing. The interest income during the period rose to Rs 1,712.98 crore from Rs 1,170.04 crore. There was however, a fall in dividend and rental income, but an increase in fee and commission income. The basic earnings per share (not annualised) improved to Rs 3.08 for each share during the second quarter of the current fiscal against Rs 2.31 a year ago same period. Total assets of the company as on September 30, 2018 stood at Rs 67,821.96 crore. On standalone basis, the net
Global LNG: Asian spot prices drop to over two-month low on higher supply
SINGAPORE (Reuters) - Asian spot prices for liquefied natural gas fell to an over two-month low this week amid increased supply and lower demand especially in Japan which is expecting a warmer-than-usual winter and the restart of nuclear reactors.
Aston Martin drives in all new Vantage in India priced at Rs 2.86 cr
British luxury brand Aston Martin Friday launched all new version of its sports car Vantage in India priced at Rs 2.86 crore (ex-showroom). The company, which had launched DB 11 model in India in 2016, now plans to ramp up its presence in the country over the next few years. "We see India as a very important market with great potential and that is why we are emphasising a lot on this market. We are doing a lot of study in emerging markets so that we can increase our presence here," Nancy Chen, Head of Sales Operations for Aston Martin, South and Southeast Asia, told PTI. Chen said globally the company aims to launch seven new products over the next seven years under its Second Century Plan. "Each of these seven new models would also be launched in India, that's how important the Indian market is to us," she added. When asked about cumulative sales in India so far Chen declined to comment but said the company sales have been growing in double digits since the launch of sports coupe DB .
Sensex down 143 points, Nifty below the 10,200 points
Negative global cues, along with a depreciating domestic currency, pulled the Sensex down 140 points during the afternoon session of the trade on Friday.
Aptech standalone net profit declines 76.94% in the September 2018 quarter
Sales decline 11.83% to Rs 30.62 crore
Aptech consolidated net profit declines 61.85% in the September 2018 quarter
Sales decline 9.34% to Rs 50.64 crore
Shriram Transport Finance Company standalone net profit rises 22.60% in the September 2018 quarter
Sales rise 20.85% to Rs 3937.99 crore
Jubilant Foodworks Ltd eases for fifth straight session
The stock is quoting at Rs 1056.85, down 1.61% on the day as on 13:19 IST on the NSE. Jubilant Foodworks Ltd jumped 30.29% in last one year as compared to a 2.27% slide in NIFTY and a 8.56% spurt in the Nifty FMCG index.