Page 2953 - Business Finance
Sensex, Nifty hit fresh intraday high
Key equity indices firmed up once again and hit fresh intraday high in early afternoon trade. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 183.97 points or 0.49% at 38,071.53. The Nifty 50 index was up 38.15 points or 0.33% at 11,488.15. The Sensex was trading above the psychologically important 38,000 mark. The Sensex and the Nifty, both, hit fresh record high levels.
Market pares gains
The market pared gains in mid-morning trade as profit booking emerged at higher levels. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 82.82 points or 0.22% at 37,970.38. The Nifty 50 index was up 9.70 points or 0.08% at 11,459.70. The Sensex was trading a tad below the psychologically important 38,000 mark after moving above that level in morning trade.
Sensex crosses 38,000 mark
Key indices extended early gains and hit fresh intraday high in morning trade. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 152.99 points or 0.40% at 38,040.55. The Nifty 50 index was up 30.45 points or 0.27% at 11,480.45. The Sensex crossed the psychologically important 38,000 mark in morning trade.
Market opens higher
Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 75.53 points or 0.20% at 37,963.09. The Nifty 50 index was up 17.30 points or 0.15% at 11,467.30.
Sundram Fasteners standalone Q1 net profit at Rs 106.18 Cr
Sundram Fasteners Ltd, a TVS Group company, has recorded a 17.7 per cent rise in its April-June quarter net profits to Rs 106.18 crore. The city-based company had recorded net profits at Rs 90.17 crore during corresponding quarter of previous year. For the full year ending March 31, 2018 net profits of the company was at Rs 367.47 crore, Sundram Fasteners Ltd said in a BSE filing. Total income of the company for the quarter ending June 30, 2018 rose to Rs 986.28 crore from Rs 858.50 crore registered during same quarter of previous year. For the full year ending March 31, 2018 total income of the company was at Rs 3,502.34 crore. The shares of the company were trading at Rs 636 apiece, down by 0.89 per cent over previous close in BSE.
City Union Bank clocks Q1 net at Rs 161.65 cr up by 15.1%
Private sector City Union Bank has recorded a 15.1 per cent rise in its net profits for the quarter ending June 30, 2018 to Rs 161.65 crore. The Tamil Nadu-based bank recorded net profits at Rs 140.33 crore during corresponding period of previous year. For the year ending March 31, 2018 net profits of the bank stood at Rs 591.99 crore. Total income for the quarter ending June 30, 2018 grew to Rs 1,018.61 crore from Rs 960.86 crore registered during year ago period. For the full year ending March 31, 2018 total income of the bank was at Rs 3,934.52 crore. The total business of the bank for the quarter ending June 30, 2018 grew to Rs 61,812 crore from Rs 54,526 crore registered during same period of previous year. Gross NPA of the bank as on June 30, 2018 stood at 3.02 per cent (Rs 851 crore) while net NPA was 1.70 per cent (Rs 473 crore). The bank had announced the issue of Bonus shares to all its shareholders during May 2018. The process of allotment of bonus shares in ...
TV Today Network Q1 net jumps 97 pc to Rs 40.99 cr
TV Today Network today reported a 96.87 per cent jump in standalone net profit at Rs 40.99 crore for the quarter ended June 30, 2018. The company had posted a net profit of Rs 20.82 crore during the same period of the previous fiscal. TV Today Network Ltd had reported exceptional expense of Rs 13.78 crore in the June quarter of 2017-18. Total income during the quarter under review stood at Rs 189.34 crore. It was Rs 169.60 crore in the year-ago period, TV Today Network said in a regulatory filing. The company's stock was trading 2.06 per cent higher at Rs 443 apiece on BSE.
Oil regains some poise after three percent drop
LONDON (Reuters) - Oil inched up on Thursday, paring 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.
NMDC Ltd leads losers in 'A' group
Jaiprakash Associates Ltd, Ipca Laboratories Ltd, Aegis Logistics Ltd and Cummins India Ltd are among the other losers in the BSE's 'A' group today, 09 August 2018.
PVP Ventures Ltd leads losers in 'B' group
IVP Ltd, Thiru Arooran Sugars Ltd, Kaushalya Infrastructure Development Corpn Ltd and STL Global Ltd are among the other losers in the BSE's 'B' group today, 09 August 2018.
Sebi initiated probe in 117 new cases in FY'18
A total of 117 fresh cases were taken up for investigation by Sebi in 2017-18, marking a decline of 52 per cent from the preceding financial year, as per the markets regulator's latest annual report. The cases were related to alleged violation of securities law including market manipulation and price rigging. "During 2017-18, 117 new cases were taken up for investigation and 145 cases were completed compared to 245 new cases taken up and 155 cases completed in 2016-17," the report noted. Sebi said 34 per cent of the total cases taken up for investigation in 2017-18 pertained to market manipulation and price rigging. Besides, insider trading, takeover violation, among others, accounted for 15 per cent of the total cases, while 51 per cent were related to other violations of securities laws. The Securities and Exchange Board of India (Sebi)initiates investigation based on reference received from sources such as its integrated surveillance department, other operational departments and .
Volumes soar at Ipca Laboratories Ltd counter
Ipca Laboratories Ltd recorded volume of 11.8 lakh shares by 14:14 IST on NSE, a 9.13 times surge over two-week average daily volume of 1.29 lakh shares
Board of ICRA approves buyback of shares
At meeting held on 09 August 2018
Global Markets: Europe's stocks wilt; U.S. sanctions slam Russia's rouble
LONDON (Reuters) - European stock markets struggled on Thursday with trade war worries, Russia's rouble tumbled after the United States imposed fresh sanctions on the country and Turkey's lira dropped to a new low.
Board of Next Mediaworks approves draft composite scheme of arrangement & amalgamation
At meeting held on 08 August 2018
East India Securities to foray into commodities market
Board approves application for membership of MCX and NCDEX
Bharat Forge Q1 net up 34 pc at Rs 234 cr
Auto components major Bharat Forge today posted a 33.91 per cent increase in its net profit at Rs 234.45 crore for the first quarter ended June 30. The company had reported a net profit of Rs 175.07 crore in the same period of the previous fiscal. Total income during the quarter under review stood at Rs 1,513.91 crore. It was Rs 1,283.7 crore in the year ago period, Bharat Forge said in a BSE filing. The company said revenue from operations, part of total income, for the quarter ended June 30, 2018 is not comparable with the corresponding period a year ago due to implementation of GST since July 1, 2017. Bharat Forge Chairman and Managing Director B N Kalyani said the company has secured new business worth Rs 120 crore across domestic and export markets. "As part of our focus on enhancing our presence in the light material space, the board has approved setting up of Aluminum Forging facility in BF PMT in Tennessee, US," he added. This facility will be set up at a cost of USD 55 ...
Intel eyes $200 bn data centre market opportunity by 2022
With more and more data being generated, global chip-maker Intel is eyeing at $200 billion market opportunity in 2022 for its data-centric businesses, a top executive has said.
Varun Beverages Q2 net profit rises 25% to Rs 307 cr
PepsiCo's largest franchise bottler Varun Beverages today posted 24.92 per cent increase in its consolidated net profit to Rs 306.78 crore for the second quarter ended June 30, 2018. The company, which follows calendar year as its financial year, had posted a net profit of Rs 245.58 crore during the same period previous fiscal. Total income during the quarter stood at Rs 2,097.49 crore. It was Rs 1,938.67 crore in the corresponding period last fiscal, Varun Beverages (VBL) said in a regulatory filing. The company said consequent to the introduction of the Goods and Service Tax (GST) Act with effect from July 1, 2017, central excise, value added tax (VAT), and some other indirect taxes have been subsumed into GST. "Accordingly, the figures for the quarter ended June 30, 2018 is not strictly comparable to other periods presented which were gross of excise duty," it added. Meanwhile, the company's Board has recommended an interim dividend of Rs 2.5 per share. The company's stock was ...
IKEA opens first India store
Swedish home furnishings major IKEA today opened its first store in India, kicking off its retail journey five years after it received approval to invest in the country's single-brand retail sector. The company, which has employed 950 people directly and another 1,500 indirectly at its store here, plans to hire 15,000 in the coming years as it expands operations in India. IKEA Group CEO Jesper Brodin said the opening of the first store in India marks a milestone in the company's journey here which began over three decades ago through sourcing of products. "We have a long term commitment to India, which is an important market for us," he added. The store here is the first of 25 such outlets planned to be set up in India by 2025. In 2013, IKEA received nod from the government to invest Rs 10,500 crore in single-brand retail. IKEA had originally planned to open its first store in India by 2017, but it was delayed. The opening of its first store here was scheduled for July 19 this year ...