Page 2932 - Business Finance
Veejay Lakshmi Engineering Works reports standalone net loss of Rs 0.97 crore in the June 2018 quarter
Sales decline 5.28% to Rs 22.79 crore
Dynamatic Technologies reports standalone net profit of Rs 8.12 crore in the June 2018 quarter
Sales rise 50.16% to Rs 139.87 crore
Arfin India standalone net profit rises 8.74% in the June 2018 quarter
Sales rise 30.11% to Rs 112.05 crore
Shyama Infosys reports standalone nil net profit/loss in the June 2018 quarter
Sales decline 16.67% to Rs 0.05 crore
Sensex settles below 38,000 ahead of IIP data
Key benchmark indices logged modest losses on last trading day of the week led by index pivotals State Bank of India (SBI), Reliance Industries (RIL) and ICICI Bank. The barometer index, the S&P BSE Sensex, fell 155.14 points or 0.41% to settle at 37,869.23. The Nifty 50 index fell 41.20 points or 0.36% to settle at 11,429.50. The Sensex settled below the psychological 38,000 level after falling below that level in early trade.
Quick Wrap: Nifty PSU Bank Index registers a drop of 3.80%
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Sensex retreats from record high on financials
(Reuters) - Indian shares fell on Friday, after touching record highs for four straight sessions, dragged down by financials such as State Bank of India and ICICI Bank Ltd.
Wall Street Weekahead: U.S. broadcasters in line for political ad windfall
(Reuters) - Local TV companies such as Sinclair Broadcast Group and Gray Television are set for a significant political advertising boost this year as candidates and special interest groups are spending heavily to woo voters in mid-term elections.
Euro zone banks punished for Turkish exposure
FRANKFURT (Reuters) - Euro zone bank shares tumbled on Friday on concerns about their exposure to Turkey as the lira fell to yet another record low with a defiant government showing few, if any signs, it is ready to take decisive steps to stabilise the currency.
India to save Rs 12,000 cr by blending ethanol in petrol: Modi
India expects to save up to Rs 12,000 crore in foreign exchange over the next four years through blending ethanol in petrol, Prime Minister Narendra Modi said on Friday.
Omkar Realtors to invest Rs 700 cr on 2nd phase of Mumbai slum redevelopment project
Mumbai-based Omkar Realtors today said it will invest about Rs 700 crore to develop the second phase of its new mixed-use housing project at Andheri in Mumbai. The company will develop 600 flats in the second phase in a price range of Rs 93 lakh to Rs 2.65 crore. This project is a part of 65 acre slum redevelopment project 'Omkar International District' where the company would be developing around 14,000 units for slum dwellers and another 9,000 units for sale. It will also have 4 million sq ft of commercial development. "We are launching the second phase of our 65-acre redevelopment project," Omkar Realtors Senior Vice President Rahul Maroo told reporters here. The company has started seeking expression of interest (EoI) from prospective buyers. Asked about the investment, he said the project cost for second phase is about Rs 700 crore. In December last year, Omkar Realtors announced the first phase wherein it is investing about Rs 1,700 crore to build 1,200 flats. Maroo said the ...
Outcome of board meeting of Indostar Capital Finance
Held on 10 August 2018
Negative global cues subdue equity indices
Geo-political concerns over global protectionist measures along with profit booking dragged the Indian equity market in the red on Friday.
JLR July sales down 21.6% at 36,144 units
Tata Motors-owned Jaguar Land Rover today reported 21.6 per cent decline in global retail sales at 36,144 units in July. Sales of Jaguar brand were down 15.2 per cent at 10,992 units last month, while those of Land Rover stood at 25,152 units, a decline of 24 per cent, the company said in a statement. "We have had challenges to navigate in key markets this month," Jaguar Land Rover Chief Commercial Officer Felix Brautigam said. Retail sales for July were down in China by 46.9 per cent, reflecting continued market volatility in the first month of the duty change as well as trade tensions, JLR said. In Europe sales were also down by 26.5 per cent and the UK were down by 18.3 per cent, impacted by the industry-wide issue of delays in WLTP (Worldwide Harmonised Light Vehicle Test Procedure) certification of 2019 model year vehicles, it added. Sales were also down by 9.5 per cent in North America, the company said. "We are also adapting to the impact of tariff changes in the Chinese ...
SBI shares end nearly 5% lower; m-cap drops by Rs 10,709 cr on Q1 loss
SBI shares ended nearly 5 per cent lower today, wiping out Rs 10,708.93 crore from the market valuation after the lender reported a hefty loss of Rs 4,876 crore for the June quarter. The stock dropped 3.79 per cent to settle at Rs 304.45 on BSE. Intra-day, it plunged 4.85 per cent to Rs 301.10. At NSE, shares of the company slumped 4.63 per cent to end at Rs 302.70. The stock was the worst hit among the blue chips on both the key indices. Led by the drop in the stock, the company's market valuation plunged Rs 10,708.93 crore to Rs 2,71,709.07 crore. In terms of equity volume, 64.62 lakh shares of the company were traded on BSE and over 11 crore shares changed hands at NSE during the day. The country's largest lender SBI today reported a hefty loss of Rs 4,876 crore for the June quarter due to higher bad loans. The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal, SBI said in a regulatory filing. The bank's gross non-performing assets ...
Apollo Hospitals Q1 net up 71% at Rs 60 cr
Apollo Hospitals today posted a 71.02 increase in its standalone profit after tax (PAT) at Rs 60.2 crore for the first quarter ended June 30. The company had reported a PAT of Rs 35.2 crore in the April-June quarter of 2017-18. Revenues grew by 16 per cent to Rs 1,910.4 crore for the first quarter as compared with Rs 1,650.4 crore in the same period of previous fiscal, Apollo Hospitals said in a statement. Shares of Apollo Hospitals today ended 1.81 per cent down at Rs 946.55 on the BSE.
Sebi looking into Jet Airways deferring quarterly results announcement
Regulator Sebi is looking into Jet Airways' deferring the announcement of June quarter results following reservations expressed by the airline's audit committee while stock exchanges have also sought information from the company, sources said. The board of directors of Jet Airways, which is grappling with financial woes, on August 9 deferred the matter of consideration of the unaudited financial results for the June quarter. Sources said that Sebi is looking into the airline delaying June quarter results after the carrier's audit committee expressed reservations. The regulator is concerned about any possible lapses in terms of disclosure and corporate governance norms by Jet Airways. Sebi is also in touch with the stock exchanges on the Jet Airways matter, they added. The BSE said the disclosure by Jet Airways regarding the delay in first quarter results lacked "certain information" and asked the airline to submit complete information that is available with it, for compliance with ...
Exclusive: FTSE Russell may give mainland China stocks more weighting than MSCI
HONG KONG (Reuters) - Index provider FTSE Russell could give a greater weighting to mainland Chinese stocks than rival MSCI if it decides to include them in its flagship indices next month, its chief executive told Reuters.
Analysis: Banks' post-Brexit 'fragmentation' plans hold risks and costs
LONDON (Reuters) - Banks that move some of their business and staff out of London to cities scattered across Europe after Brexit could be taking on extra risks and costs without being sure of boosting revenues.
Ashok Leyland arm to supply electric double-decker buses in London
Hinduja Group flagship Ashok Leyland today said its subsidiary Optare PLC has received order for 31 units of electric double-decker buses from Transport for London (TfL). The order is for 31 Optare Metrodecker EV double-decker buses to be bought by Metroline which will be added to London's fleet by next summer, Ashok Leyland said in a statement. "Double-decker buses in London have been iconic and is a matter of prestige for the city. It is a moment of great pride not only for us but for our country, as our subsidiary, Optare wins such a crucial and environmentally significant order," Ashok Leyland Managing Director Vinod K Dasari said. The company has been investing intelligently in developing e-mobility solutions for various markets, he added. "Our commitment and investment in Optare was a strategic move which will give us long-term benefits not only in terms of revenue but also in terms of developing the technology. E-mobility business for us is growing fast and Optare will play a ..