Page 2270 - Business Finance
Oil prices rise on Saudi tensions; demand outlook drags
LONDON (Reuters) - Oil prices rose on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, although concerns over the long-term demand outlook dragged on sentiment.
Novo Nordisk could close biopharma acquisition this year - CEO
COPENHAGEN (Reuters) - Novo Nordisk might be able to complete an acquisition within its struggling biopharma business this year, its chief executive told Reuters on Monday.
Network18 Media Q2 loss at Rs 68 crore
Network18 Media & Investments today reported a consolidated net loss of Rs 67.87 crore for the second quarter ended September 30, 2018. It had reported a net loss of Rs 70.70 crore in July-September quarter a year ago, Network18 said in a BSE filing. Total consolidated income from operations during the reported quarter stood at Rs 1,200.34 crore. It was Rs 331.40 crore in the same period last fiscal. The company said results are not comparable consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 1, 2018. "Consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 2018, and TV18 Home Shopping Network and NW18 HSN Holdings Pic ceasing to be subsidiaries and becoming associates... the figures for the current quarter and half year are not comparable with those of the corresponding periods," the company said. Its total expenses during the quarter was Rs 1,227.38 crore. Commenting on ..
Ewire Softtech Acquires Cashier Prepaid Cards
/ -- Aims at Offering First-of-its-kind Innovative Services in the Financial Industry Ewire Softtech Private Limited announced that it has acquired Cashier Prepaid Cards - a financial technology services company based in Bangalore, India. The acquisition on undisclosed amount, grants Ewire Softtech access to 100,000 Prepaid Card users across the country and multiple corporate groups and establishments for payments and other financial services. (Logo: https://mma.prnewswire.com/media/711154/CASHIER.jpg ) "Acquisition of Cashier Prepaid Cards is a major milestone in the journey of Ewire to establish its presence in India and support the country's digitization drive. It is in this context that I am happy and thrilled to announce the acquisition to develop a future-driven digital banking solution which will act as a complete Virtual Bank. More importantly, it will enable India in achieving its core objective which is Digital Financial Inclusion," said Mr. Rakesh Kumar Upadhyay - Working ..
PM warns of high oil prices hurting global economic growth
Prime Minister Narendra Modi Monday warned oil producers like Saudi Arabia that high crude prices are hurting the global economy and sought a review of payment terms to provide a temporary relief to the local currency. India, the world's third-biggest oil consumer, has been over the past two months battered by high crude oil prices that have sent retail petrol, diesel and LPG rates to record high, posed inflationary risks and together with a sliding rupee threatened to upset its current account deficit. Also, unrelenting fuel price rise since mid-August has negated cut in taxes and subsidy. With Saudi Arabia Oil Minister Khalid A Al-Falih and a UAE minister listening, Modi at his third annual brainstorming with the chief executives of top global and Indian oil and gas companies underscored how crude oil prices at a four-year high were hurting global growth. Sources privy to the deliberations said Modi also asked chief executives why no new investments in oil and gas exploration and ..
TV18 Broadcast Q2 net profit at Rs 40.36 crore
Media firm TV18 Broadcast today reported a consolidated net profit of Rs 40.36 crore for the second quarter ended September 30, 2018. The company had reported a net profit of Rs 7.33 crore in the July-September quarter of the previous fiscal. Its total income during the quarter under review stood at Rs 1,201.50 crore. It was Rs 234.97 crore in the corresponding quarter last fiscal, TV18 Broadcast said in a BSE filing. The company said consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 1, 2018, the figures for the current quarter are not comparable with those of the earlier quarters. "Consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 1, 2018, the figures for the current quarter and half year are not comparable with those of the corresponding periods," the company said. Its total expense was at Rs 1,146.10 crore during the quarter. Shares of TV18 Broadcast today settled at ..
Trident shares surge 20% on robust Q2 show
Shares of Trident Monday rose by 20 per cent after the company reported an over two-fold jump in its standalone net profit for the quarter ended September 30, 2018. The stock jumped 19.76 per cent to end at Rs 69.10 on the BSE. Intra-day, it soared 19.93 per cent to Rs 69.20. On the NSE, shares of the company surged 19.98 per cent to close at Rs 69.35. On the equity volume side, 16.63 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day. Trident Monday reported an over two-fold jump in its standalone net profit to Rs 109.14 crore for the quarter ended September 30, 2018. The company had posted a net profit of Rs 50.90 crore in the same period of the previous fiscal, Trident said in a BSE filing. Standalone revenue from operations of the company rose to Rs 1,391.50 crore for the quarter under consideration as against Rs 1,120.53 crore for the same period a year ago.
Bank of America profit beats on lower costs, loan growth
(Reuters) - Bank of America Corp reported a better-than-expected rise in quarterly profit on Monday as the second-largest U.S. lender benefited from cost cuts, while higher interest rates and loan growth helped offset weaker bond trading revenue.
Gold hits near 12-week high as falling markets burnish appeal
BENGALURU (Reuters) - Gold prices jumped nearly 1 percent on Monday to hit a near 12-week high as Asian shares resumed their fall and investors grappled with the impact of the ongoing Sino-U.S. trade war and higher U.S. interest rates.
Avenue Supermarts shares tank over 6% post Q2 earnings
Shares of Avenue Supermarts, which runs the D-Mart supermarkets chain, Monday fell over 6 per cent after the company's September quarter earnings failed to meet market expectations. The stock slumped 5.50 per cent to end at Rs 1,333.15 on the BSE. During the day, it tanked 7.14 per cent to Rs 1,310. On the NSE, shares of the company dropped 6.23 per cent to close at Rs 1,323.70. In terms of the equity volume, 2.15 lakh shares of the company were traded on the BSE and over 20 lakh shares changed hands on the NSE during the day. Avenue Supermarts Saturday posted 18.1 per cent jump in its net profit to Rs 225.7 crore for the quarter ended September 30. The company had reported a net profit of Rs 191.04 crore in the corresponding quarter a year ago. Its revenue from operations in the quarter under review stood at Rs 4,872.5 crore, up 38.9 per cent, as against Rs 3,506.9 crore in the year-ago period, Avenue Supermarts said in a BSE filing.
HUL shares fall nearly 3% after Q2 results; m-cap drops by Rs 9,101 cr
Shares of Hindustan Unilever Ltd (HUL) Monday fell by nearly 3 per cent even as the FMCG major reported a 19.51 per cent increase in net profit for the September 2018 quarter. The scrip ended 2.68 per cent lower at Rs 1,526.60 on the BSE. During the day, it tanked 4.35 per cent to Rs 1,500.40. The stock was the worst hit among the 30-Sensex components. On the NSE, shares of the company fell by 2.48 per cent to settle at Rs 1,530.55. The company's market valuation tumbled Rs 9,101.69 crore to Rs 3,30,455.31 crore on the BSE. In terms of the equity volume, 2.92 lakh shares of the company were traded on the BSE and over 39 lakh shares changed hands on the NSE during the day. HUL Friday reported a 19.51 per cent increase in net profit to Rs 1,525 crore for the September 2018 quarter on account of double digit growth across the categories. The company had posted a net profit of Rs 1,276 crore during the same period last fiscal. Sales during the quarter under review stood at Rs 9,138 crore .
Competition law reforms to remove high entry barriers:MCA Secy
The corporate affairs ministry Monday said the focus of further reforms will be on designing of competition law to remove high entry barriers and provide easy access for those suffering from anti-competitive conduct. While addressing a 'roadshow on competition law', jointly organised by the Competition Commission of India (CCI) and industry body CII, corporate affairs secretary Injeti Srinivas stressed the need for demystifying competition law by hardwiring the principles into business philosophy and government policy framework. "The focus of further reforms will be the designing of competition law in the country to remove high entry barriers and provide easy access for those suffering from anti-competitive conduct," he said. Srinivas also highlighted the role of the competition law review committee, which has been mandated to consider the challenges posed to competition law and offer solutions. The committee will consider whether more benches are required, calculation ..
BlackRock and Blackstone CEOs withdraw from Saudi conference - source
LONDON (Reuters) - BlackRock Chief Executive Larry Fink and Blackstone Group CEO Stephen Schwarzman will no will no longer attend a high profile conference in Saudi Arabia, a source familiar with the matter told Reuters on Monday, becoming the latest senior executives to withdraw amid concerns about a missing journalist.
Infibeam Avenues to manage digital platform of Sintex Group
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Alkali Metals standalone net profit rises 135.29% in the September 2018 quarter
Sales rise 10.32% to Rs 15.72 crore
Victory Paper & Boards (India) reports standalone net loss of Rs 0.03 crore in the September 2018 quarter
Sales reported at Rs 0.33 crore
South Indian Bank standalone net profit rises 1523.38% in the September 2018 quarter
Total Operating Income rise 10.44% to Rs 1696.51 crore
Reliance Industrial Infrastructure standalone net profit declines 21.93% in the September 2018 quarter
Sales rise 7.15% to Rs 21.28 crore
Indiabulls Housing Finance consolidated net profit rises 21.22% in the September 2018 quarter
Sales rise 26.13% to Rs 3980.39 crore
Sensex rises 130 points, Nifty settles above 10,450-mark
Key equity indices reversed initial losses to end higher, as global crude oil prices eased and as investors cheered lower-than-expected gains in wholesale prices.