Page 2272 - Business Finance
Indians prefer short breaks over one long vacation: Survey
Indians have changed the way they have been holidaying very significantly over the past few years. Instead of one big break, they now prefer multiple short breaks in addition to one big family vacation, according a Yatra.coms five-year comparative survey data.
Cloudera gets new country-head
: US-based information technology firm Cloudera Monday announced the appointment of Vinod Ganesan as its country-head with immediate effect. Earlier, Ganesan was serving in Hitachi Data Systems as head (banking and financial service), a press release said. "India is a critical market for us...With Ganesan's rich industry experience and business acumen, he is the ideal choice for Cloudera," vice-president of the company for Asia-Pacific and Japan Mark Micallef said in the release. Ganesan has over 20 years of experience in the IT industry, the release added.
myGate raises Rs 65 crore in funding led by Prime Venture Partners
Mobile-based security management solutions provider myGate Monday said it has raised Rs 65 crore in funding led by existing investor Prime Venture Partners. myGate is a mobile-app-based system that allows gated communities to manage operations at the entry and exit gates. Using the platform, all visitor entries and exits are logged digitally, with complete visibility and control of the resident. It has been implemented across over 1,000 gated communities in Bengaluru, Hyderabad and Pune will use the funds to accelerate expansion into cities like Chennai, Mumbai and Delhi-NCR, a statement said. "Technology is pervasive and it was only a matter of time for the security at gated communities to be transformed using smart and intelligent solutions ... (we) will use the funds to invest in technology to further enhance our... solutions," myGate co-founder and CEO Vijay Arisetty said. The statement said myGate is on a rapid expansion mode in "10 cities including Chennai, Mumbai and Delhi NCR .
Nifty, Sensex end higher; IT stocks lead
(Reuters) - Indian shares ended higher for a second straight session on Monday after a weak start, in a recovery led by IT stocks benefiting from a depreciating rupee, while consumer discretionary stocks capped the gains.
Sensex extends gains in choppy trade; up 132 pts despite weak macro data
The benchmark BSE Sensex extended gains for the second straight day by surging about 132 points on Monday on sustained buying by domestic institutional investors despite disappointing macro-economic data and uninterrupted foreign fund outflows. The NSE index Nifty ended above the 10,500-mark. However, investor mood remained cautious due to fresh weakness in the rupee on rising crude oil prices and a subdued trend at other Asian markets, following worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and signs of tighter monetary policy by the US Federal Reserve. The rupee again breached the 74-mark against the US dollar to quote at 74.05 (intra-day) in the forex market. Brent crude, the international benchmark, was trading higher by 0.98 per cent, to USD 81.79 per barrel. Meanwhile, inflation based on wholesale prices rose to a two-month high of 5.13 per cent in September, mainly due to hardening of food prices and rise in cost of petrol and diesel, according
Zee Learn consolidated net profit rises 24.25% in the September 2018 quarter
Sales rise 108.42% to Rs 126.05 crore
IndusInd Bank Q2 net up 4.5% to Rs 920 cr
Private sector lender IndusInd Bank Monday reported a 4.5 per cent growth in net profit at Rs 920.25 crore for the July-September quarter compared to the year-ago period. The bank had a net profit of Rs 880.10 crore in the second quarter of last fiscal. Total income of the bank rose to Rs 6,755 crore during the September quarter, from Rs 5,395 crore in the same period in 2017-18 fiscal, IndusInd said in a filing to BSE. Gross non-performing assets (NPA) of the bank rose marginally to 1.09 per cent during the quarter, from 1.08 per cent in the same period last year. Provisioning of bank rose to Rs 590.27 crore during the quarter, from Rs 293.75 crore in the year-ago period. Shares of IndusInd Bank closed trading at Rs1626.85, down 1.48 per cent over the previous close on BSE.
Volatile session ends with modest gains
The market ended the volatile session with modest gains, backed by firmness in index pivotals. The barometer index, the S&P BSE Sensex, rose 131.52 points or 0.38% to 34,865.10, as per the provisional closing data. The Nifty 50 index rose 40 points or 0.38% to 10,512.50, as per the provisional closing data.
Raise issues with TN chief secretary, planters told
Principal secretary of labour and employment, government of Tamil Nadu, Sunil Paliwal Monday assured the planters in the state to raise their problems with the chief secretary of the state Girija Vaidyanathan. This assurance from Paliwal comes following a request from planters at the 65th annual conference of the planters association of Tamil Nadu that the committee, comprising secretaries of labour, forest and revenue departments, was to ensure discussion on issues affecting the industry and suggest relief. But no such discussions had been held for several years now, the planters said. Paliwal said he would request the chief secretary to revive the committee and include more principal secretaries of various departments in the committee. He said he would try to come out with a roadmap for the sector in the wake of various issues being faced by the planters. The principal secretary further said he would consider the demand to allow the use a portion of their plantations .
B'desh GDP may go up by 2 pc once Padma bridge is operational: Hasina
Bangladesh will be able to achieve two per cent more economic growth once the Padma multi-purpose road and rail bridge, joining Dhaka with Jessore in the country's west, is completed, Prime Minister Sheikh Hasina has said. Hasina unveiled on Sunday the name plaque of the bridge and Padma Bridge Rail Link Construction Project at a rally in Munshiganj on the outskirts of capital Dhaka. The 25-metre-wide and 10-km-long double-decker bridge is being built with Chinese assistance over Padma River, one of the three major rivers in Bangladesh. A four-lane road would be built on the upper deck while a broad gauge single railway line will be on the lower deck. Bangladesh in May signed a USD 3 billion loan deal with China's Exim Bank to construct the Padma bridge rail link which is among the eight projects under the direct supervision of the Fast Track Project Monitoring Committee, headed by Hasina. The country's current GDP growth is 7.86 per cent and it would be possible to increase that by ..
SBI launches 6-day YONO shopping festival
State Bank of India said Monday its digital service platform YONO will launch a six-day shopping festival beginning October 16 in which customers using the app for shopping via online portals can avail discounts. The YONO shopping festival would provide discounts up to 40 per cent from top 14 e-commerce merchants in electronics, fashion, home furnishing, gifting, jewellery, accessories and travel space. Besides, SBI credit and debit card holders would get an additional 10 per cent cash back over and above the discounts provided by the merchants, State Bank of India said in a statement. The YONO shopping festival would begin from October 16 and will continue till October 21. SBI MD (Retail & Digital Banking) P K Gupta said YONO has continued to gain momentum and popularity with an average addition of 25,000 customers per day since it was launched last year.
MG Motor to drive in electric SUV in India by first half of 2020
MG Motor India, a wholly-owned arm of China's SAIC Motor Corp, will roll out a locally manufactured pure-electric SUV by first half of 2020, within one year of its first product launch in the country, a top company official said Monday. The company is all set to drive in its first product, a mid-sized SUV with petrol and diesel powertrains, in the second quarter of 2019. MG Motor would manufacture both the products at its Halol plant in Gujarat, which it acquired from General Motors last year. "MG will launch a globally-competitive pure-electric SUV in India to make our contribution to India's energy and environmental strategies," SAIC Motor Executive Director International Business Michael Yang told reporters here. Yang, however, did not share details regarding the size as well as range of the electric SUV. MG Motor India President and Managing Director Rajeev Chaba said SAIC has proven technology in terms of EVs and the company is gearing up for a long haul in India in terms of ...
IndusInd Bank standalone net profit rises 4.56% in the September 2018 quarter
Total Operating Income rise 29.22% to Rs 5438.09 crore
SREI Infrastructure Finance Ltd leads losers in 'A' group
Rajesh Exports Ltd, Avenue Supermarts Ltd, Kwality Ltd and Jyothy Laboratories Ltd are among the other losers in the BSE's 'A' group today, 15 October 2018.
WPI inflation rises to 5.13% on costlier fuel, hardening of food prices
Inflation-based on wholesale prices spiked to a two-month high of 5.13 per cent in September, mainly due to hardening of food prices as well as rise in cost of petrol and diesel. The Wholesale Price Index (WPI) based inflation stood at 4.53 per cent in August and 3.14 per cent in September last year. According to the government data released Monday, food articles witnessed hardening of prices with deflation at 0.21 per cent September as against 4.04 per cent in August. Deflation in vegetables was 3.83 per cent in September, compared to 20.18 per cent in the previous month, indicating relative rise in prices. Inflation in 'fuel and power' basket in September was 16.65 per cent. Individually, in petrol and diesel it was 17.21 per cent and 22.18 per cent, respectively, and for LPG it was 33.51 per cent. ICRA Principal Economist Aditi Nayar said while crude oil prices have cooled in the recent sessions, and the excise duty and VAT cuts would provide some relief for fuel prices, the weaker
IL&FS Engineering & Construction Co Ltd leads losers in 'B' group
Arihant Foundations & Housing Ltd, Nu Tek India Ltd, Tokyo Plast International Ltd and CL Educate Ltd are among the other losers in the BSE's 'B' group today, 15 October 2018.
Watch the Live Stream of Honor 8X India Launch on 16th October 2018 at 11:30 am IST
/ -- Honor, the sub-brand of Huawei, is all set to launch the Honor 8X in India on 16th October, 2018. The launch event will be held in New Delhi at 11:30 am IST. (Logo: https://mma.prnewswire.com/media/682098/Honor_Logo.jpg ) Watch the launch of Honor 8X live on https://www.youtube.com/watch?v=lhkeNy1rUC0. Viewers watching the livestream of the Honor 8X launch can participate in an exciting Honor #Best8XMoments contest wherein viewers have to take five screenshots of their favourite moments from the launch and share in the comments section of the Facebook or Twitter contest post. The lucky winner will get a chance to win the Honor 8X. Embodying the slogan 'Beyond Limits', the Honor 8X will bring together seamless user experience and AI technology with beautiful and stylish design to consumers. Aiming to improve the experience for smartphone users, the Kirin 710 processor in Honor 8X will support in providing increased speed, more personalized data, and a better understanding of the ..
MT Educare consolidated net profit rises 98.28% in the September 2018 quarter
Sales decline 5.89% to Rs 58.16 crore
Volumes jump at Brigade Enterprises Ltd counter
Brigade Enterprises Ltd saw volume of 2.34 lakh shares by 14:14 IST on NSE, a 11.6 fold spurt over two-week average daily volume of 20187 shares
8K Miles moves police, Sebi against Quantum,Kumar Sharebrokers
Cloud computing firm 8K Miles Software has filed criminal complaints with Chennai police and Sebi against Quantum Global Securities and Kumar Sharebrokers for "illegally" selling 8.42 per cent of shares of its promoter and chairman Suresh Venkatachari. According to the complaint filed on September 17, the Mumbai-based Quantum and Delhi-based Kumar Sharebrokers "fraudulently and without permission" sold nearly 25.7 lakh shares accounting for 8.42 per cent of total equity held in his demat accounts with them, during the first quarter of this fiscal year. "We filed a forgery, cheating and criminal conspiracy against these brokers. Our charges also include fraud, dealing without authorisation, and criminal breach of trust, along with cheating and fabrication. While Quantum sold around 23 lakh and Kumar sold around 3 lakh shares-illegally and criminally," Venkatachari told PTI Monday. It has now sought help to recover losses to the tune of Rs 150 crore, he said. When asked .