Page 2273 - Business Finance
OYO expands international presence with UAE foray
Hospitality firm OYO Monday said it has launched operations in the United Arab Emirates as part of its expansion plans in the Middle East. The company has launched the operations with over 10, full inventory franchised and operated hotels in Dubai, Sharjah and Fujairah in the UAE, OYO said in a statement. OYO plans to host guests in over 12,000 rooms, 150 Hotels and all 7 Emirates across United Arab Emirates, by 2020, it added. "With over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically UAE, is poised to grow substantially and with our market learning and expertise we are ready to tap this opportunity," OYO Founder and CEO Ritesh Agarwal said. The company has been at the forefront of the budget and mid segment hotels revolution in the markets it operates in, and can bring in its operational expertise and technology edge to the benefit of independent hotel owners, he added. The hospitality firm also said it is committed ..
Sugar stocks rally
The Sensex and the Nifty were trading with small losses in mid-afternoon trade. At 14:22 IST, the barometer index, the S&P BSE Sensex, was down 27.57 points or 0.08% at 34,706.01. The Nifty 50 index was down 2.40 points or 0.02% at 10,470.10. Sentiment continued to be fragile as rising oil prices and a weakening rupee added to woes during the earnings season, amid negative global cues.
Key indices bounce back amid volatility
Trading turned volatile as key indices bounced back in afternoon trade, backed by firmness in index pivotals. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 68.34 points or 0.20% at 34,801.92. The Nifty 50 index was up 21.25 points or 0.20% at 10,493.75. Sentiment continued to be fragile as rising oil prices and a weakening rupee added to woes during the earnings season, amid negative global cues.
Nissan delays UK pay talks until after Brexit clarity
LONDON (Reuters) - Japanese carmaker Nissan, which operates Britain's biggest car factory, has delayed the start of pay talks with its staff in the country until the terms of Brexit become clearer.
UBM India to Bring in the Maiden Edition of the Chennai Jewellery and Gem Fair
/ -- A gateway to the Indian jewellery market, with a special focus on South India's repertoire UBM India, the largest organizer of jewellery fairs in India, announced the launch of its premium international B2B jewellery fair in South India - the Chennai Jewellery & Gem Fair (CJGF). It is scheduled to be held between 20th - 22nd October, 2018 at the Chennai Trade Centre. The expo will be well-supported by the prominent jewellery association - the Chennai Jewellers Association and will showcase over 150 exhibitors. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/769002/CJGF_October.jpg ) (Photo: https://mma.prnewswire.com/media/769012/CJGF_Key_Dignitaries.jpg ) The CJGF owes its origins to the GJIIE, a show that UBM India had, over the years, nurtured as the gateway to the Indian jewellery market, particularly in South India. In its refurbished avatar, UBM India's new jewellery show in Chennai will truly provide an ...
Fundraising via debt placement slumps 38% to Rs 2 lakh cr in Apr-Sep FY19
Listed Indian companies raised over Rs 2 lakh crore in April-September this fiscal through private placement of corporate bonds, registering a sharp decline of 38 per cent from the year-ago level. In the entire 2017-18 fiscal, the capital raked in through the route stood at Rs 6 lakh crore, data with markets regulator Securities and Exchange Board of India (Sebi) showed. The funds have been raised mainly for business expansion, to support working capital requirements and retire their existing debt. In private placement of bonds, firms issue securities or bonds to institutional investors to raise capital. According to the data, companies listed on the BSE and NSE garnered Rs 2.01 lakh crore from debt on a private placement basis in the first six months of the current fiscal, much lower than Rs 3.24 lakh crore raised in April-September period of 2017-18. In terms of numbers, 1,173 issues were made in April-September this fiscal, as compared to 1,459 in the year-ago period. Market ...
IndusInd Bank second-quarter profit rises 4.6 percent
(Reuters) - IndusInd Bank Ltd posted a 4.6 percent rise in second-quarter profit on Monday, helped by higher interest income.
Axalta promotes sustainable coating practice at Indiaskills 2018
Axalta has announced that it supported India's Biggest Skill Competition "Indiaskills 2018", a biennial event that provides a platform to passionate participants to exhibit their skills on a national level.The winners of Indiaskills 2018 get an opportunity to represent India at 45th WorldSkills Competition at Kazan, Russia in 2019. Indiaskills is hosted by National Skill Development Corporation (NSDC) under the guidance of Ministry of Skill Development and Entrepreneurship (MSDE), Government of India. This is the third competition in a row that Axalta has supported and been a part of.Axalta's 'Sustainability Practice Award' is presented in the category of Car Painting and focuses on the contestant who has excelled at painting the car without the use of surplus resources and minimized waste. This initiative helps to nurture environmentally responsible mindset among young people to learn from and further, implement the practices in their daily lives and in their careers, ensuring a ...
German growth seen slowing in third-quarter on car registration bottlenecks
BERLIN (Reuters) - German growth is likely to be slower in the third quarter, the Economy Ministry said in its monthly report on Monday, citing as a reason bottlenecks in the car sector stemming from the introduction of new pollution standards known as WLTP.
Network 18 Media & Investments reports standalone net loss of Rs 433.96 crore in the September 2018 quarter
Sales rise 28.66% to Rs 21.19 crore
Network 18 Media & Investments reports consolidated net loss of Rs 67.87 crore in the September 2018 quarter
Sales rise 278.45% to Rs 1237.00 crore
'Continued liquidity stress may have deeper impact on NBFCs'
Non-bank financial companies (NBFCs) are likely to be impacted significantly if the liquidity situation, triggered by IL&FS default, continues to remain tight, according to a report. Infrastructure Leasing & Financial Services (IL&FS) and its subsidiaries are facing liquidity crisis and has defaulted on debt repayment. The default by IL&FS has also impacted other NBFCs and also mutual fund players. "Non-bank financial institutions (NBFI) will be significantly impacted if the liquidity distress in the country's capital markets, triggered by the default in September 2018 of IL&FS, prolongs for an extended period of time," rating agency Moody's said in a report. The rating agency's vice president and senior credit officer, Srikanth Vadlamani, said the authorities will continue to take measures to limit the scope and duration of the prevailing liquidity challenges, while most NBFIs can cope with multi-weeks of tight liquidity conditions. "However, ...
Sensex erases losses despite tick-up in wholesale prices
The key equity indices on Monday erased their initial losses, despite a tick-up in the wholesale price-based inflation index.
WPI up 5.13% in September as fuel prices continue to rise
The Wholesale Prices Index (WPI) in India grew 5.13 percent in September, driven by a rise in prices of fuel, noted the Commerce and Industry Ministry data.The wholesale inflation, which is measured by the WPI, rose 4.53 percent in the month of August this year versus 2.60 percent in September 2017.The prices of primary articles rose 2.97 percent, as against a fall of 0.15 percent in August.The index for 'Food Articles' group declined by 0.2 percent to 144.5 (provisional) from 144.8 (provisional) for the previous month due to lower price of fish-marine (12%), egg and urad (3% each), gram and ragi (2% each) and fruits & vegetables and peas/chawali (1% each). However, the price of betel leaves (18%), tea and pork (4% each), beef & buffalo meat and bajra (3% each), fish-inland, condiments & spices, maize and poultry chicken (2% each) and arhar, barley, mutton, wheat, masur and moong (1% each) moved up.Prices of fuel and power, which together have a weightage of 13.15 percent
Yes Bank allots 18.81 lakh equity shares
Under ESOP
Zee Entertainment Enterprises Ltd gains for fifth session
The stock is quoting at Rs 470, up 0.71% on the day as on 12:44 IST on the NSE. Zee Entertainment Enterprises Ltd is down 8.64% in last one year as compared to a 2.35% spurt in NIFTY and a 14.22% spurt in the Nifty Media.
Zee Media Corporation Ltd soars 3.83%, gains for fifth straight session
The stock is quoting at Rs 25.75, up 3.83% on the day as on 12:44 IST on the NSE. Zee Media Corporation Ltd is down 35.06% in last one year as compared to a 2.35% slide in NIFTY and a 14.22% slide in the Nifty Media.
New buyers drive growth during Snapdeal's Mega Diwali sale
The reach and popularity of online sales was fully visible during Snapdeal's five day Mega Diwali Sale as 38% of all orders placed during the sale are by new buyers.Snapdeal's value-savvy positioning connected well with the target audience - more than 75% of the orders were received from buyers in non-metro cities.During the sale, Snapdeal's orders grew 2.5X, driven by great value offers across categories like fashion, home goods, and kitchen accessories.The most popular items at Snapdeal during the sale were sarees, bedsheets, beard trimmers, epilators, utensils, mixer grinders, headphones, bluetooth speakers, pen drives, sunglasses, home security systems, men's slippers, men's watches, cleaning equipment like mops and refurbished phones.E-Gift cards for travel were also amongst the highest selling products, with users stocking up on these cards to save 20-30% on future travels.LED lights were one of the most popular items on all sale days. Users bought LED lights for home use and as
Shorter car ownership cycles, new car launches and rising aspirations give rise to unboxed cars
Listing of unboxed cars, i.e. owned for less than two years, are seeing an impressive growth on OLX, as per the second edition of the OLX Automobile Report.As per the report, there is an 18% y-o-y growth in 2018 over 2017. While 1.1 lac unboxed cars were listed on OLX between January - August 2017, the listings jumped to 1.3 lakh between January-August 2018.More impressively, buyer inquiries for such cars jumped 50% in 2018. While this is predominantly a metro trend at present, it is expected to play out in Tier 2 and Tier 3 cities in the coming months.This growth trend is strongly evident in the premium cars category, which is expected to dominate the pre-owned automobile sales this festive season. Listings for premium brands such as Audi, BMW, and Mercedes Benz have grown 49% in 2018. SUVs outsell sedans, on the whole, showcasing the buyer's penchant towards having a bit of muscle on the road. Maruti, Honda and Mahindra are the top brands in the unboxed cars segment on ...
Pitstop to invest USD 1 million in Singapore operations
India's first independent doorstep car services provider, Pitstop has formed a joint venture with Goldbell Group to launch an end to end platform for management of service and repair of vehicles in Singapore.The company will invest USD 1mn to expand operations in Singapore aimed at wider adoption among end customers and fleets by Q1 FY19."It is a proud moment for all of us. Technology knows no boundary. The vision is to enable convenient, transparent and trustworthy service and repair of automobiles in Singapore using our technology platform, similar to what we have been executing in India. Goldbell has an immense ground operations' experience with strong foothold in South East Asia. Complementing this is Pitstop's technological expertise. The association is strategic and advantageous for both parties. This opportunity also allows Pitstop a ground to make the platform more powerful with real time service and repair experience at scale." said Mihir Mohan, founder and CEO of ...