Page 2948 - Business Finance
Hindustan Construction Company reports standalone net loss of Rs 19.72 crore in the June 2018 quarter
Sales rise 0.26% to Rs 933.09 crore
Goodyear India standalone net profit declines 12.90% in the June 2018 quarter
Sales rise 14.18% to Rs 534.63 crore
Blue Star standalone net profit rises 40.19% in the June 2018 quarter
Sales decline 3.43% to Rs 1382.93 crore
Jindal Steel and Power posts profit after 14 quarters
(Reuters) - India's Jindal Steel and Power Ltd posted its first profit in 15 quarters on Thursday and beat analysts' estimates, helped by higher iron and steel sales.
WTO outlook indicator shows global trade losing momentum in third-quarter
GENEVA (Reuters) - Global trade in goods is likely to lose momentum in the third quarter, with growth just above trend, as trade tensions slow export orders and automobile production and sales, the World Trade Organization said on Thursday.
Oil steadies as U.S. sanctions on Iran kick in
LONDON (Reuters) - Oil rose on Thursday, recouping some of the previous day's steep price slide, after the first round of U.S. sanctions against Iran came into effect, although confidence in crude demand has been hit by the escalating China-U.S. trade dispute.
Coffee Day Enterprises Q1 net down 20 pc to Rs 21 cr
Coffee Day Enterprises, which runs the popular Cafe Coffee Day chain, today reported 20.15 per cent decline in consolidated net profit at Rs 21 crore for the June quarter, 2018-19. The company had reported a net profit of Rs 26.3 crore in the year-ago period, Coffee Day Enterprises said in a BSE filing. Total income stood at Rs 1,002.8 crore during the quarter under review. It was Rs 830.4 crore in the year-ago period. As of June 2018, its cafe network stood at 1,742 outlets spread across 246 cities in India, it said. Shares of Coffee Day Enterprises today settled at Rs 271.95 apiece, down 0.31 per cent from the previous close on BSE.
Online hiring activity rebounds in July: Report
Following two successive months of decline, online hiring activity saw a rebound of 6 per cent in July on a month-on-month basis led primarily by the production and manufacturing sector, says a report. Following a decline of 8 per cent in June and 7 per cent in May 2018, the Monster Employment Index for India for July stood at 268, up from 254 in June. On a year-on-year basis, however, the index registered a 2 per cent decline. The production and manufacturing sector has seen 28 per cent growth in hiring demand in the past 6 months between January and July 2018. "This could be a result of the sustained impetus in domestic and export growth orders have encouraged firms to raise their staffing levels. Moreover, the retail sector has also shown a phenomenal growth surge which can be attributed to a spurt in online shopping owing to end of season sale and discounts," said Abhijeet Mukherjee, CEO, Monster.com, APAC and Gulf. The retail sector witnessed a 41 per cent year-on-year increase ..
US investor T Rowe Price moves HC over UTI's IPO issue
US investor T Rowe Price has approached the Bombay High Court seeking a direction to the finance ministry and Sebi to prevent four PSUs from stalling the Unit Trust of India's bid to come up with an IPO. In its petition, T Rowe Price International Ltd, which owns 26 per cent of the UTI Asset Management Company, claimed the four public sector undertakings State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda were trying to stall the company's proposed IPO. The petition, filed in the high court yesterday, has sought for implementation of the Sebi's rules and regulations and to extend the term of UTI's chief executive Leo Puri for another year to see the IPO through. According to T Rowe Price, the four PSUs, which together own 74 per cent in the UTI AMC, are not in favour of granting Puri a second term. "In the absence of confirming Leo Puri's appointment for a further period of 12 months, the performance of UTI shall be adversely affected and .
Quick Wrap: Nifty PSU Bank Index records a surge of 2.98%
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BLS International Services consolidated net profit rises 17.10% in the June 2018 quarter
Sales rise 3.17% to Rs 201.26 crore
Hyderabad-based Digital Marketing Company bags 2 National Awards
The Hyderabad-based Advertising and Digital Marketing Company, What's In a Name Creatives, and its Founder and CEO, Rajive Dhavan, won two coveted National Awards; "Best Use of Social Media in Marketing" and "Digital Marketing Professional of the Year", respectively. The awards were bestowed by the TIMES NETWORK, at an event held in Mumbai recently.Rajive Dhavan said, "From a tiny 1-room rented Apartment, and a small loan of Rs. 40,000, to bagging some of the most coveted national awards; it's been a fantastic journey so far. This milestone wouldn't have been possible without the continued support of an incredible set of clients, most of whom have been with us since our inception.""Our strategy has always been to stay a step ahead of the trend by re-inventing ourselves to remain relevant. That's the only way to sustain in today's rapidly-evolving and crowded market," Dhavan added when asked about their strategy.Dhavan along with his co-founder, Harini Prabhu, founded Whats In a Name ..
Centum Electronics reports consolidated net loss of Rs 19.57 crore in the June 2018 quarter
Sales rise 6.58% to Rs 197.90 crore
Tribune Media terminates deal to be bought by Sinclair
(Reuters) - Tribune Media Co has terminated its $3.9 billion deal to be bought by Sinclair Broadcast Group, the company said on Thursday, after regulators objected to the acquisition that had received support from U.S. President Donald Trump.
Viacom reports 3.7 percent drop in quarterly revenue
(Reuters) - Media company Viacom Inc reported a 3.7 percent fall in quarterly revenue on Thursday due to a drop in domestic advertising sales and fees it collects from cable TV operators.
Thyssenkrupp swings to loss on industrial woes
German conglomerate Thyssenkrupp, grappling with a leadership crisis and investor calls for a major revamp, reported a quarterly loss today as cost overruns in its industrial unit weighed on the bottom line. The Essen-based group said it booked a net loss of 131 million euros (USD 151 million) in the third quarter of its financial year, after seeing a 120-million-euro profit over the same period a year earlier. Thyssenkrupp, which makes everything from elevators and submarines to car parts, already announced last week it was slightly lowering its 2018 outlook because of slower sales and higher than expected costs in its industrial solutions division. Among the projects causing headaches were a marine project in Turkey, a cement plant in Saudi Arabia and a biofuel power plant in Australia, it said. The group's underlying, or adjusted operating profit, slumped 46 percent to 332 million euros, while revenues were up two percent to 11.2 billion euros thanks to a rise in overall sales and .
Builders hand over 1.93 lakh units in 9 cities during H1 2018: Report
Implementation of the new real estate law RERA from May last year has forced developers to focus on execution of projects, leading to 33 per cent rise in deliveries of flats to over 1.93 lakh units in 9 major cities during January-June 2018, says a report. According to the findings of News Corp-backed realty portal PropTiger, nearly 8.6 lakh units are scheduled to be handed over to buyers by 2019-end. It also said the developers delivered 1,93,061 units during first half of 2018 against 1,44,654 units in the corresponding period of last year. The top nine cities tracked by the company are - Ahmedabad, Bengaluru, Chennai, Gurugram, Hyderabad, Kolkata, Mumbai, Noida and Pune. Noida includes Greater Noida and Yamuna Expressway, while Mumbai includes Navi Mumbai and Thane. Gurugram includes Bhiwadi, Dharuhera and Sohna markets. "Since the advent of RERA, developers have shifted their focus on completing existing projects rather than launching new ones in order to avoid penalties. This has
Nickel, copper zinc climb on sustained demand
Most of the base metals including nickel, copper and zinc prices climbed at the non-ferrous metals market here today on stockists' buying amid sustained demand from industrial users. However, tin slipped owing to reduced offtake from alloy industries. Nickel prices rose by Rs 5 per kg to Rs 1,005 from Wednesday's closing level of Rs 1,000. Zinc gained by Rs 3 per kg to Rs 224 from Rs 221. Copper cable scrap and copper billets moved up Rs 2 per kg each to Rs 461 and Rs 489 as against Rs 459 and Rs 487, respectively. Copper scrap heavy, copper armiture, copper utensils scrap and copper sheet cutting edged-up by a Re per kg each to Rs 455, Rs 450, Rs 424 and Rs 446, respectively. However, tin fell by Rs 5 per kg to Rs 1,410 as compared to Rs 1,415 earlier.
Edible oils gain on sustained demand
Groundnut oil gained further at the Vashi oils and oilseeds wholesale market here today following sustained demand from stockists and retailers. Elsewhere, refined palmolein edged-up owing to mild offtake from retailers. In non-edible section, castor seeds bold and castor oil commercial both held stable in absence of any large-scale buying activity. Linseed oil rose further due to good demand from paint and allied industries. Moving the edible segment, groundnut oil climbed by Rs 10 to Rs 950 per 10 kg from Wednesday's closing level of Rs 940 and refined palmolein inched up by a rupee to Rs 667 per 10 kg. In the non-edibles segment, linseed oil moved up by Rs 5 to Rs 950 per 10 kg as compared to Rs 945. However, castor seed bold and castor oil commercial closing unchanged Rs 4,530 per 100kg and Rs 936 per 10 kg, respectively.
'Catastrophic' shutdowns expected at Rusal if U.S. sanctions remain
MOSCOW (Reuters) - Russian aluminium giant Rusal is concerned about an impending catastrophe if U.S. sanctions are not lifted, with some of its production halted as early as September, two sources close to the company said.