Page 2256 - Business Finance
Crisil Q3 net jumps 30% to Rs 90 cr on new client additions
The S&P-controlled domestic rating agency Crisil Ratings Tuesday reported a 30 per cent growth in net income at Rs 90 crore, driven by new new client additions and focus on efficiencies in the September quarter. Total income rose 10 per cent during the third quarter at Rs 454.22 crore, while consolidated income from operations inched up 4 per cent to Rs 425.46 crore, the company said in a statement. It declared an interim dividend of Rs 7 per share. Crisil attributed new client additions and ongoing focus on efficiencies for the 30 per cent growth in profit after tax at Rs 90.01 crore from Rs 69.42 crore in the corresponding quarter of the previous year. For the nine months to September, its consolidated income from operations rose 5 per cent to Rs 1,281.46 crore, while consolidated total income rose 8 per cent to Rs 1,335.20 crore boosting net income 19 per cent to Rs 249.35 crore. "During the quarter, our sharp focus on driving superior customer value and relevant .
Aviation stocks fly high; Jet Airways soars over 8%
Aviation stocks were in high demand Tuesday, surging up to 8.4 per cent on falling global crude oil prices. Shares of Jet Airways soared 8.41 per cent, lnterGlobe Aviation 5.74 per cent and SpiceJet 4.24 per cent on the BSE. Rise or fall in oil prices impacts margins of airlines. Besides, shares of oil marketing companies BPCL and IOC also remained strong, rising up to 2.06 per cent on falling crude oil prices. Brent was trading 0.25 per cent lower at USD 80.58 a barrel on Tuesday. Meanwhile, the equity benchmark Sensex continued its winning run for the third straight session Tuesday, rising 297.38 points to close at 35,162.48.
Wall Street gains after strong earnings from blue-chips
(Reuters) - U.S. stocks rose broadly on Tuesday, led by technology and healthcare shares, as upbeat earnings from blue-chip companies helped ease jitters over the impact of the ongoing U.S.-China trade war and other global issues on corporate profits.
U.S. Judge approves settlement between SEC, Musk
(Reuters) - A U.S. judge on Tuesday approved the settlement between the Securities and Exchange Commission, Tesla Inc and its Chief Executive Officer Elon Musk.
Corrected: Johnson & Johnson edges past profit estimates, lifts outlook
(Reuters) - Johnson & Johnson reported slightly better-than-expected quarterly profit on Tuesday and pushed its full-year forecast higher, as demand for its cancer drugs Zytiga and Imbruvica helped offset falling sales of arthritis treatment Remicade.
Morgan Stanley profit beats on strength in equity trading, underwriting
(Reuters) - Morgan Stanley reported a better-than-expected quarterly profit on Tuesday, driven by higher revenue in its stock trading and equity underwriting businesses.
Infosys sticks to revenue growth guidance as quarterly profit rises
MUMBAI/BENGALURU (Reuters) - Infosys Ltd retained its revenue forecast for the current financial year, with the chief of India's second largest IT firm saying the demand for its services remained strong.
Equity trading strength boosts profits at Morgan Stanley, Goldman
(Reuters) - Wall Street's top investment banks reported better-than-expected quarterly profits on Tuesday, helped by strength in stock trading and equity underwriting, wrapping up what has been a strong quarter for the big U.S. banks.
Congress demands probe into ONGC turning debt-ridden
Congress on Tuesday demanded a Supreme Court-monitored probe into allegations of the state-run Oil and Natural Gas Corporation (ONGC) turning debt-ridden due to government decisions. The party accused the Modi government of "systematically attempting to destroy the public sector".
DCGI asks company to recall Ozurdex Intravitreal implants
The Drug Controller General of India (DCGI) has asked a pharmaceutical company to recall one of its products, Ozurdex Intravitreal Implant, a steroid eye implant for macular edema, after the company admitted that a silicone particle has been detected in it. During a routine manufacturing inspection, a silicone particle, approximately 300 microns in diameter, was observed in dispensed Ozurdex implants, a statement by the Allergan India Private Limited said. The silicone particle has been confirmed to originate from the needle sleeve. The silicone sleeve is an intrinsic part of the Ozurdex product and the particle is not an external contaminant, it said. Batches of Ozurdex already distributed in India are affected by this defect. Generally, most batches have 2 to 4 per cent defective units, but defect rates as high as 22 per cent have been reported, the company statement said. "Ozurdex batches known to be affected are being recalled from the Indian market. New stocks of Ozurdex that are
Lenovo to raise mobile production capacity in India by up to 10 fold in 2019
PC and mobile maker Lenovo plans to ramp up its smartphone production capacity up to 1 million units per month in 2019, a top official of the company said Tuesday. "We make mobile phones in India at our partners factory. At present we have production capacity of 100,000 per month which we plan to increase in the range of 500,000 to 1 million units per month by the end of 2019," Lenovo Group Vice President Edward Chang told PTI. The capacity expansion does not include volume of Motorola phones -- a brand which is owned by Lenovo. The company has entered into an exclusive partnership with e-commerce platform Flipkart to sell its phone in India. The company launched three smartphones in sub-Rs 10,000 price segment -Lenovo K9 for 8,999 and two model of Lenovo A5 for 5,999 and Rs 6,999 a unit at an event today. "We have partnered exclusively with Flipkart because the share of online and offline market will be equal in India by 2020. This means it is 60-70 million units business opportunity
India, Tanzania sign two MoUs
India and Tanzania on Tuesday signed two Memoranda of Understandings (MoUs ) in presence of External Affairs Minister Sushma Swaraj and Tanzanian Foreign Minister Dr. Augustine Mahiga, in the national capital.The agreements were signed following India-Tanzania 9th Session of Joint Commission on Economic, Technical and Scientific Cooperation in New Delhi.The MoUs are between Foreign Service Institute of India and Centre for Foreign Relation, Tanzania and National Research Development Corporation and Tanzania Industrial Research and Development Corporation.In a tweet, External Affairs Ministry spokesperson Raveesh Kumar said, comprehensive discussion held on stepping up cooperation in trade and investment, defence and security, development partnership, Science and Technology, oil and natural gas, culture and people-to-people relations.He said, the relationship between the two countries are on the foundation of shared ideological commitment and has blossomed into a closer partnership.
Pradhan urges Rosneft to enhance presence in fuel retail sector
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Tuesday urged Russian energy company Rosneft to enhance its presence in the Indian fuel retailing sector."Met Global Head of Downstream and Member of Management Board @RosneftEN, Didier Casimiro on the sidelines of #IndiaEnergyForum. Urged Rosneft to enhance their presence in the Indian fuel retailing sector. Last year Russia had made its largest FDI in Oil and Gas sector in India," Pradhan wrote on Twitter."Rosneft is also partnering with Indian OMCs in Russian projects such as Sakhalin-1, Vankorneft and Taas-Yuryakh. Explored further enhancing Indian presence in Russian Oil and Gas fields, also invited them to invest in India's Gas infrastructure," he added.Pradhan, meanwhile, also met Neil Saunders, president and Chief Executive Officer of oilfield equipment for Baker Hughes, a GE company (BHGE), on the sidelines of second India Energy Forum.During the meet, he urged Saunders to take advantage of the ...
Investor wealth soars Rs 5.30 lakh cr in three days of mkt rally
As the equity market continued its winning run for the third straight session Tuesday, investor wealth soared Rs 5.30 lakh crore in the rally since Friday. In the three trading sessions, the BSE benchmark Sensex has gained 428.9 points. The 30-share Sensex stayed in the positive zone during the Tuesday session and settled 297.38 points higher at 35,162.48. Led by the positive broader market trend, the market capitalisation of the BSE-listed companies soared Rs 5,30,936.25 crore to Rs 1,41,01,338.84 crore. "After opening the week on a positive note, stock markets in India continued to trade today on a firm clip. Buying at lower levels and some relief at the macro data level encouraged traders to take long positions in the market," said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund. Meanwhile, the rupee strengthened by 35 paise to 73.48 against the US dollar in the forex market. "Positive Asian markets cues, half a per cent fall in crude and appreciating rupee ...
U.S. industrial output rises, but momentum slowing
WASHINGTON (Reuters) - U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter.
U.S. industrial output rises in September
U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter.
China fines pharma firm $1.3 billion in vaccine scandal
Chinese authorities have slapped a fine and asset seizure totalling a whopping $1.3 billion on a pharmaceutical company over a vaccine scandal that fuelled public fears of domestically-made medicine, drug regulators said Tuesday. The massive fine is the latest move by authorities to punish Changchun Changsheng Biotechnology company, based in northeast Jilin province, over the faulty rabies vaccine. The firm's chairwoman and 14 other people were arrested in connection with the scandal in July, while a slew of national, provincial and local officials have been sacked. The manufacturer of rabies vaccines was ordered to cease production after it was found to have fabricated records. Authorities say the suspect rabies vaccines did not enter the market. But the case provoked outrage from consumers fed up with recurring product-safety scandals, particularly in the drug sector. The company was handed a fine and asset seizure totalling 9.1 billion yuan ($1.3 billion), the China National Drug ..
Wall Street opens higher led by tech stocks
(Reuters) - U.S. stocks opened higher on Tuesday, led by technology stocks, as upbeat earnings from blue-chip companies helped ease jitters over the impact of an ongoing U.S.-China trade war and other global issues on corporate profits.
Infosys net up 10.3 per cent in second quarter
Software major Infosys on Tuesday reported Rs 4,110 crore consolidated net profit for the second quarter of fiscal 2018-19, registering 10.3 per cent annual growth from Rs 3,726 crore in the same period a year ago and 13.8 per cent sequential growth from Rs 3,612 crore quarter ago.
Infosys Q2 net profit rises 10.3 per cent
Software major Infosys on Tuesday reported a consolidated net profit of Rs 4,110 crore, a 10.3 per cent on-year rise for the quarter ended September 30.