Page 2227 - Business Finance
MSC Cruises orders four deluxe cruise liners
Genova (Italy), Oct 19 (IANS/AKI) Italian shipbuilder Fincantieri said it has signed an agreement with MSC Cruises - the worlds largest privately-owned cruise company - for the construction of four ultra-luxury cruise ships at a cost of over 2 billion euros.
Indices extend slide
Weakness persisted on the bourses in afternoon trade as the key benchmark indices extended losses after a mild intraday recovery. At 13:28 IST, the barometer index, the S&P BSE Sensex, was down 494.28 points or 1.42% at 34,285.30. The Nifty 50 index was down 161.50 points or 1.55% at 10,291.55.
Australia: Stocks closed mixed
Shares of materials and resources companies were lower, following an overnight dip for several industrial metals. Sector giants BHP and Rio Tinto were down 0.3 and 1.7% respectively, and Fortescue Metals and South32 were both more than 2% lower.
Japan Nikkei extends losses on weak offshore tone, stronger yen
Shares of machinery-related players underperformed, with construction equipment maker Komatsu down 4.2%, while Kubota Corp lost 2.5% and Nabtesco Corp slipped 3.1%.
RBI eases norms to increase liquidity flow for NBFC sector
The Reserve Bank of India (RBI) on Friday came out with new measures to increase the liquidity flow to non-banking financial companies (NBFCs) and housing finance companies (HFCs).
Mindtree shares slump 18 pc post Q2 results on cautious biz outlook
Shares of IT firm Mindtree cracked 18 per cent Friday as the company's September quarter earnings failed to cheer investors. The scrip opened the day on a weak note and later plunged 17.66 per cent to Rs 806 on BSE. At NSE, shares of the company slumped 18 per cent to Rs 801.10. Trading sentiment in the stock were hit as the company maintained a cautious business outlook amid volatile macroeconomic scenario across the world. "We sense a cautious and a volatile macroeconomic scenario in the world and that will pose some challenges to the business environment. In addition, Q3 has a regular seasonality factors as well. Inspite of these headwinds, we are confident that we have a very strong pipeline," Mindtree CEO and Managing Director Rostow Ravanan had said in a conference call Wednesday. Mid-sized IT firm Mindtree Wednesday posted a 65.4 per cent rise in consolidated net profit at Rs 206.3 crore for the September quarter and exuded confidence of registering strong revenue growth for ...
Mphasis Q2 net profit up 37 pc to Rs 271 cr
IT company Mphasis Friday reported 37 per cent jump in consolidated net profit at Rs 271 crore for the quarter ended on September 30, 2018, compared to the year-ago quarter. The company had registered a net profit of Rs 197.6 crore in the year-ago period, it said in a statement. Total income of Mphasis increased by 19.5 per cent to Rs 1,962.4 crore during the reported quarter from Rs 1,642.2 crore in the corresponding quarter of 2017-18. "We are pleased with the health of our pipeline and continued strong execution across multiple sectors especially in New Gen Services, Nitin Rakesh, the chief executive officer and executive director of Mphasis, said in a statement. The company in September ended quarter won contracts worth Rs 1,485.96 crore, of which 77 per cent were for new generation services, according to the statement. Shares of the company, however, were trading down by 4.27 per cent at Rs 1,075.15 on BSE whose benchmark index Sensex plunged 1.21 per cent.
Hindustan Unilever Ltd up for third consecutive session
The stock is quoting at Rs 1578.75, up 1.07% on the day as on 12:49 IST on the NSE. Hindustan Unilever Ltd is up 26.31% in last one year as compared to a 1.3% jump in NIFTY and a 13.03% jump in the Nifty FMCG index.
RIL slumps after declaring Q3 result
Reliance Industries lost 4.63% to Rs 1,095.70 at 12:41 IST on BSE after the company declared Q3 result after market hours on Wednesday, 17 October 2018.
ITC Ltd gains for fifth session
The stock is quoting at Rs 288.55, up 0.73% on the day as on 12:44 IST on the NSE. ITC Ltd is up 8.05% in last one year as compared to a 1.37% gain in NIFTY and a 13.12% gain in the Nifty FMCG.
China steel prices slide as output hits record, GDP slows
MANILA (Reuters) - Chinese steel prices fell on Friday after data showed daily output in the world's top steel producer climbed to a record in September and China's economy slowed to the weakest pace since 2009.
Oil prices edge up, but set for weekly loss on stock build, trade row
SINGAPORE (Reuters) - Oil prices nudged higher on Friday on signs of surging demand in China, the world's second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity.
Banks Permitted To Reckon Gsecs Up To Amount Equal To Their Incremental Outstanding Credit to NBFCs
The Reserve Bank Of India (RBI) has decided that, with immediate effect, banks will be permitted to also reckon Government securities held by them up to an amount equal to their incremental outstanding credit to NBFCs and Housing Finance Companies (HFCs), over and above the amount of credit to NBFCs and HFCs outstanding on their books as on October 19, 2018, as Level 1 HQLA under Facility to Avail Liquidity for Liquidity Coverage Ratio (FALLCR) within the mandatory SLR requirement.
Current Upturn In Investment Cycle Estimated To Last Up To 2022-23 Says RBI Paper
The Reserve Bank of India recently placed on its website a Working Paper titled "India's Investment Cycle: An Empirical Investigation" under the Reserve Bank of India Working Paper Series. The Paper is authored by Janak Raj, Satyananda Sahoo and Shiv Shankar. The paper estimates the duration of the investment cycle and examines the determinants of investment activity in India.
Reliance Industries shares slump 7% post Q2 results
Shares of Reliance Industries Friday slumped 7 per cent despite the company reporting its highest ever quarterly net profit in the July-September quarter. The stock opened lower and declined further by 6.59 per cent to Rs 1,073.15 on BSE. At NSE, shares of the company dived 7 per cent to Rs 1,070.25. In terms of equity volume, 10.50 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning trade. Reliance Industries Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore in July-September as record earnings from petrochemical business and bumper earnings from retail business and telecom arm made up for a decline in refinery margins. The operator of world's largest oil refining complex however saw pre-tax earnings from the business decline for the second quarter in a row. It fell 19.6 per cent to Rs 5,322 crore as margins dipped. In the first quarter the pre-tax earnings had fallen 16.8 per cent. It earned USD 9.5
Corrected: Oil prices edge up, but set for weekly loss on stock build, trade row
(Corrects milestone in 5th paragraph to world's largest importer, not 2nd-largest)
Cement shares decline
Key barometers were trading in a narrow range near day's low in early afternoon trade. At 12:25 IST, the barometer index, the S&P BSE Sensex, was down 385.86 points or 1.11% at 34,393.72. The Nifty 50 index was down 115.10 points or 1.10% at 10,337.95.
Shiva Mills Ltd leads gainers in 'B' group
Vaswani Industries Ltd, Urja Global Ltd, Country Condos Ltd and Premier Polyfilm Ltd are among the other gainers in the BSE's 'B' group today, 19 October 2018.
Swedish truckmaker Volvo beats profit forecast
STOCKHOLM (Reuters) - Truckmaker Volvo's beat quarterly profit expectations on Friday buoyed by bullish demand for trucks and construction equipment and forecast high levels of demand in its main markets Europe and North America in 2019.
Social sectors poised to get private debt-capital boost (Comment)
The Global Steering Group for Impact Investments (GSG) launched a billion-dollar India Impact Fund at a summit held in Delhi last week. The fund will focus on providing debt capital to social enterprises in development sectors like finance, health, education and renewable energy.