Page 2927 - Business Finance
Industrial output expands 7 pc in June
Industrial output recorded a growth of 7 per cent in June on account of higher output in mining, manufacturing and power generation segments. Factory output growth measured in terms of the Index of Industrial Production (IIP) was revised upwards for May at 3.9 per cent from previous estimate of 3.2 per cent estimated earlier, according to data released by the Central Statistics Office (CSO) today. The cumulative growth for the period April-June 2018 stands at 5.2 per cent over the corresponding period of the previous year. The manufacturing sector, which constitutes 77.63 per cent of the index, grew by 6.9 per cent in June, as against a decline of 0.7 per cent in the year-ago month. Power generation segment saw a rise of 8.5 per cent during the month as compared to 2.1 per cent growth a year ago. The mining sector output recorded an impressive growth of 6.6 per cent in June as against 0.1 per cent in June 2017.
HDFC Bank's deputy managing director resigns
(Reuters) - HDFC Bank on Friday said its Deputy Managing Director Paresh Sukthankar has resigned and will vacate his post in 90 days.
Peruvian avocado export to India to touch $200,000
In the first year of operations, Peru has exported avocados worth over $70,000 to India, which is about 11 per cent of the fruit's total export, as per a statement from Peruvian Embassy.
Zomato strengthens presence in tier II; adds 7 more cities
Online food delivery platform Zomato on Friday announced its expansion of operations to seven cities including Dehradun, Agra, Patna, Mysore, Ranchi, Raipur and Aurangabad, making its presence stronger in tier II cities."We're heads down focused on growing this business and are excited to bring Zomato's food delivery services to these cities. India is our largest focus market and growth in tier II and tier III cities has been really encouraging for us," said CEO, Zomato, Mohit Gupta."We want to continue to reach out to more users in India, and make their interactions with restaurant much more seamless as compared to what they are right now," added Gupta.Earlier, Zomato launched its platform across 25 new cities in India, including Trivandrum, Vijayawada, Raipur, Madurai, Jodhpur, Thrissur, Ajmer amongst others.With this move, Zomato further plans to launch in multiple new cities every month.As a leading global restaurant discovery, food ordering and table reservations platform, Zomato
Mutual funds remain net buyers
Net inflow of Rs 14.79 crore on 7 August 2018
HDFC Bank Deputy MD Paresh Sukthankar resigns
Paresh Sukthankar has resigned as Deputy Managing Director of HDFC Bank today, the bank said without citing any reasons. "We hereby inform you that Paresh Sukthankar has tendered his resignation as Deputy Managing Director of the bank, to be effective 90 days from the close of business hours of today," HDFC Bank said in a regulatory filing. The bank said its board of directors places on record its appreciation for the contribution made by Sukthankar in his long association with the bank. Stock of the bank closed 0.17 per cent down at Rs 2,115 on BSE.
Ericsson to add 300 U.S. jobs as 5G demand picks up
STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson said on Friday it would add around 300 jobs in the United States to meet rising demand for next-generation 5G equipment.
Outcome of board meeting of Vaghani Techno-Build
Held on 10 August 2018
Global Markets: Bank stocks dive, euro falls as Turkey turmoil spreads
LONDON (Reuters) - A plunge in the Turkish lira rocked global equities and emerging markets on Friday, and fears of more turmoil sent investors scurrying for safety in assets like the yen and U.S. government bonds.
Turkey lira crashes to new lows as market alarm grows
Turkey's embattled lira today hit new record lows against the US dollar and euro, losing over seven percent in value as strains with the United States showed no sign of abating and fears grew over the exposure of European banks. The lira was trading at 5.95 to the dollar, a loss on the day of 7.5 percent. Earlier, it had crashed some 12 percent through the 6.00 level for the first time in history, trading at one point at more than 6.20 lira per dollar. The lira has now lost over a third of its value against both the dollar and the euro this year, with the currency battered by both concerns over domestic economic policy and the political situation. Versus the euro on Friday the lira lost 7.0 percent to trade at 6.8. But President Recep Tayyip Erdogan, who had remained unusually silent all week as the lira bled value almost daily, appeared to express confidence over the situation. "We will not lose the economic war," state-run TRT Haber television quoted Erdogan. The state-run Anadolu ..
Govt received 537 complaints against Sahara Q Shop
Corporate Affairs Ministry has received 537 complaints till date against Sahara Q Shop for not returning the matured amount to investors, Union Minister P P Chaudhary said today. Following the complaints, the ministry has ordered inquiry, he added. "The ministry has received 537 complaints till date against Sahara Q Shop Unique Products Range Ltd of Sahara Group for not returning the matured amount to investors," Chaudhary, who is the Minister of State for Corporate Affairs said. Separately, he said that 77 "vanishing" companies remained untraced after having raised funds through initial public offers (IPOs). Vanishing companies are those firms which cease to file their statements of return after raising capital, and whereabouts of their registered office or directors are not known. From the initial public offerings (IPOs), which were issued during 1992-2005 period, a total of 238 firms were identified as vanishing companies. "Due to the continuous efforts of the ministry, 129 ...
CreditAccess Grameen IPO fully subscribed
Receives bids for 4.11 crore shares
FPIs continue buying
Net inflow of Rs 411.49 crore on 9 August 2018
Nifty August futures at small premium
Turnover on NSE's F&O segment drops
Oil steady as Iran sanctions balance impact of trade war
LONDON (Reuters) - Oil prices steadied on Friday as concerns that a global trade dispute will slow economic growth and demand for fuel were balanced by U.S. sanctions against Iran that look set to tighten supply.
'Over 31k realty projects under Rera so far; Maha leads race'
As many as 31,500 real estate projects across the country have been registered under Rera so far, with Maharashtra alone accounting for almost 54 per cent of the same, a report said. Around 17,125 projects in Maharashtra have been registered under Rera so far, according to a joint report by industry body Ficci and Grant Thornton. The Real Estate (Regulation & Development) Act, 2016 came into full force from May 1, 2017, and all the states and Union territories (UTs) were supposed to notify their respective Rera rules, create online portals and appoint permanent regulators by now. All the under-construction projects, along with real builders and agents, were supposed to be registered under their respective state's Reras. However, as per the survey, out of a total of 35 states and UTs in the country, excluding Jammu & Kashmir, just 24 states and UTs have notified Rera rules so far, with around 25,000 real estate developers and 23,000 real estate agents having ...
Global Economy: Tariffs and sanctions turmoil may overshadow EU, German growth data
BERLIN (Reuters) - U.S. tariffs and sanctions policies are likely to keep investors on their toes in the coming week as European politicians and policymakers continue their summer break, while economic data from Germany and the euro zone will also be in focus.
Khattar for making disclosure of valuable assets kept in lockers mandatory
Haryana Chief Minister Manohar Lal Khattar today drew the attention of the union government to the issue of liability for the loss of valuable items deposited in the bank lockers. He suggested making disclosure of valuable assets kept in lockers mandatory. With this, the banks can easily buy a group insurance policy for the hirers of lockers, he said. In a letter written to Union Finance Minister Piyush Goyal, the chief minister said that if for some reasons, this is considered impractical, customers can at least be given a choice to disclose. The chief minister said that even if the banks do not get the lockers of even the subset of willing customers insured, this would help the bank and the government in quickly dealing with the claims, should an eventuality arise. This, he said, would be big step forward since the Reserve Bank of India has not yet framed any parameters for assessing such losses. Moreover, this would be consistent with Government of India's drive to curb black money
Eicher Motors shares surge 5.5 pc post June qtr earnings
Shares of Eicher Motors today surged 5.5 per cent after the company reported its best consolidated net profit in a quarter at Rs 576 crore in the April-June period. The company's stock jumped 5.55 per cent to settle at Rs 29,010.65 on the BSE. Intra-day, it soared 6.16 per cent to Rs 29,177.70. On the NSE, shares of the company advanced by 5.15 per cent to close at Rs 28,853. Eicher Motors yesterday reported its best consolidated net profit in a quarter at Rs 576 crore in the April-June period, driven by robust motorcycle sales. The company posted 25 per cent rise in net profit in the first quarter ended June 30 from Rs 460 crore in April-June period of 2017-18. Consolidated total revenue from operations stood at Rs 2,548 crore for the quarter under review, the company's highest-ever so far in a quarter. It was at Rs 2,255 crore in the year-ago period. During the period under review, the maker of niche Royal Enfield bikes sold 2,25,286 units, registering a growth of 23 per cent over ..
Outcome of Board of Fraser and Company
Held on 10 August 2018