Page 3039 - Business Finance
ONGC Q1 profit up 58% to Rs 6,144 cr
State-owned Oil and Natural Gas Corp (ONGC) today reported 58 per cent jump for the June quarter net profit on realising higher prices for its produce. Its net profit of Rs 6,143.88 crore, or Rs 4.79 per share, in the first quarter of 2018-19 fiscal was higher than Rs 3,884.73 crore, or Rs 3.03 a share, in the year-ago period. The company said in a stock exchange filing that its revenue from operations rose to Rs 27,212.83 crore from Rs 19,073.54 crore in April-June period of last fiscal.
Alibaba to deliver Starbucks coffee in China
Chinese e-tailer Alibaba on Thursday said it would soon deliver aromatic cuppas of American coffee brewer Starbucks across 30 Chinese cities.
Hindustan Copper to spend Rs 5,500 cr on expansion
Hindustan Copper Ltd (HCL)will spend Rs 5,500 crore over 6 years to expand its production capacity by six times to up to 20 million tonnes per annum (MTPA), a top official of the company said today. HCL has "very ambitious" expansion plans, the company's CMD Santosh Sharma told reporters here. "We have been working till date with a target of expanding to 12.4 million tonnes of copper ore production per annum. Now we have set our revised target at 20 million tonnes (MT), he said. The Cabinet had yesterday approved a fresh equity issue of 15 per cent by HCL which will help the state-run company raise over Rs 900 crore. Sharma said the company is aiming to enhance its capacity six times from present 3.6 MTPA to 20 MT by 2023-24. "The Capex requirement for the mine expansion plan is Rs 5,500 crore which is spread over next six years," he said. Last year, HCL's capex was close to Rs 600 crore. Right now the company is catering to around five per cent of domestic copper demand and aspires ..
SML ISUZU commences production on new assembly line
Production capacity increases to 24000 vehicles per annum
Cisco in advanced talks to buy Duo Security - sources
(Reuters) - Cisco Systems Inc is in advanced talks to acquire Duo Security, a venture capital-backed cyber security company, as it seeks to expand its offerings in cloud computing, according to people familiar with the matter.
Piaggio unveils new series of Ape CNG/LPG three wheelers
Piaggio Vehicles, the wholly-owned subsidiary of Italian auto major Piaggio group, today unveiled new series of Ape model of three wheelers in CNG and LPG variants in the domestic market. The launch coincides with the roll out of the 2.5 millionth Piaggio vehicle from its sole manufacturing facility in Baramati, Maharashtra. The Ape Xtra LDX and Ape Auto DX are part of the new industry-first water-cooled engine technology range, the company said, adding, the new range of vehicles will meet the growing demand for commercial vehicle mobility solutions particularly suited to intra-city travel. Diego Graffi, managing director and chief executive officer, Piaggio Vehicles, said the launch of the new vehicles, which comprises both passenger as well as cargo categories, is part of firm's plan to strengthen the alternative fuel product portfolio. "The emphasis on alternate fuel technology is growing every day in the country and hence we introduced an improved range of alternate
Quick Wrap: Nifty Realty Index registers a drop of 1.66%
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Odisha assures support to Taiwanese investors for petrochemical project
The Odisha government on Thursday assured Taiwanese investors of its cooperation for the proposed Rs 43,000 crore petrochemical cracker unit project in Paradip.
UC Berkeley, Quantela to boost smart cities initiative in India
The University of California-Berkeley (UC Berkeley) and global technology company Quantela on Thursday announced their partnership to establish smart city accelerator and innovation centres in India, a move that could boost government's "100 smart cities" initiative.
Incubation program deadline for energy startups extended
The Ministry of Commerce and Industry on Thursday extended the last date for energy sector startups to apply for a three-month incubation program with a cash grant of Rs 5 lakh, to August 10.
Cash logistics firm SIS acquires peer SLV Security for undisclosed sum
Security and cash logistics firm SIS has acquired a majority stake in SLV Security Services. The value of the deal was not diclosed. SIS said it would take 51 per cent stake in SLV which provides security services, electronic surveillance and security consulting. "This is the first strategic transaction for SIS since its IPO. Last year, the company had notified the stock market about its Rs 1,000 crore acquisition and investment corpus," SIS said in a statement today. Through this strategic partnership, the SIS - SLV combine shall secure the highest market share in Gurgaon - NCR market, it said. "We look forward to leveraging on our partnership to become a much more dominant player in the region and take us closer to our goal of being the number 1 security services company in India. Our M&A strategy is focussed on becoming the leader in key micro markets and NCR market is one of them," said Rituraj Sinha, Group Managing Director, SIS Group. SLV was founded by Vishal Swara and ...
Copper, brass slip on sluggish demand
Copper and brass utensils scrap slipped at the non-ferrous metals market here today on stockists' selling amid sluggish demand from industrial users. Elsewhere, nickel prices also slid owing to lower demand from alloy industries. Copper scrap heavy, copper armature, copper utensils and nickel prices eased by Rs 5 per kg each to Rs 451, Rs 447, Rs 423 and Rs 985 from Wednesday's closing level of Rs 456, Rs 452, Rs 428 and Rs 990, respectively. Copper cable scrap and copper billets moved down by Rs 4 per kg each to Rs 457 and Rs 485 as against Rs 461 and Rs 489 yesterday, respectively. Copper sheet cuttings edged down by Rs 3 to Rs 445 per kg as compared to Rs 448 previously and brass utensils scrap softened by Rs 2 per kg to Rs 340 from Rs 342.
Godrej Properties shares drop 2.5% as Q1 net falls
Shares of Godrej Properties today fell by 2.5 per cent after the company reported 65.41 per cent decline in consolidated net profit for the quarter ended June 30. The stock dropped 2.50 per cent to close at Rs 724.55 on BSE. Intra-day, it slipped 4.11 per cent to Rs 712.50. At NSE, shares of the company went down by 1.44 per cent to end at Rs 732.50. Realty firm Godrej Properties today said its consolidated net profit fell by 65.41 per cent to Rs 34.3 crore for the first quarter this fiscal. Its net profit stood at Rs 99.17 crore in the year-ago period. Total income, however, rose 18.96 per cent to Rs 1,066.73 crore in the quarter from Rs 896.71 crore in the same period last year, Godrej Properties said in a regulatory filing.
BSE to conduct mock trading sessions on Aug 4
Leading exchange BSE today said it will conduct mock trading sessions on Saturday. The sessions will be conducted for currency derivatives, equity derivatives and equity segments on August 4, the exchange said in three separate notices. "Trading members shall ensure that all user-ids approved for algorithmic trading, irrespective of the algorithm having undergone change or not, shall participate in the mock trading session," the BSE said. Algorithmic trading refers to high-frequency and automated execution of trades on the stock exchanges through pre-programmed software platforms installed on servers. The exchange has also sought feedbacks from the trading members for the sessions. "To be able to provide our members with a robust and efficient system for trading with better features, feedback from all members is very important", the BSE said. "We request all members to give their feedback for the mock trading session ...," the BSE said. The Securities and Exchange Board of India ...
FPIs buying vigour ebbs
Net inflow of Rs 179.23 crore on 1 August 2018
NHAI to Sign MoU with SBI for a Long Term, unsecured Loan of Rs 25,000 Crore
NHAI had invited an Expression of Interest from Scheduled Commercial Banks to fund Rs. 25000 Crore as an unsecured loan for 10 years with 3 years of moratorium on repayments. In response to this EOI, SBI offered to fund the entire requirement of Rs 25000 Crore based on one month MCLR.
TPG, KKR leading contenders to manage Abraaj's healthcare fund: sources
DUBAI (Reuters) - Buyout firms TPG and KKR & Co have emerged as leading contenders to run Dubai-based private equity firm Abraaj's troubled $1 billion healthcare fund, three sources familiar with the matter said.
Gold holds steady as the dollar marches higher
LONDON (Reuters) - Gold prices held steady on Thursday after an upbeat assessment of the U.S. economy by the Federal Reserve and new trade tensions between Washington and Beijing boosted the dollar and U.S. bond yields.
Home prices largely steady in Delhi-NCR during April-June: Report
Prices in the residential real estate sector were largely steady in the Delhi-NCR region, barring Gurgaon where prices rose marginally, a report said on Thursday.
Futuresoft Solutions win 2 accolades at IDG Media ChannelWorld 2018 Awards
FutureSoft Solutions (FSPL), a leading consulting, technology and next-generation systems integration company and was recently felicitated with 2 recognitions at ChannelWorld 2018 Awards. FSPL bagged the coveted Premier100 Award for 2018 for its future-ready approach as an enterprise IT channel partner.FSPL was also inducted into the Premier 100 Hall of Fame for winning the ChannelWorld Premier 100 Award for the fourth time in succession; a testimony of the company's strong performance year on year.Vipul Datta, Chief Executive Officer - FSPL said, "The awards are a testament of our commitment for proving best-in-class technology-enabled business solutions and services to our ever-growing customer base. I would like to thank all our esteemed clients for partnering with us and the entire team at FSPL for their persistent efforts. I am sure going ahead we will set new benchmarks in IT services and system integration powered by our strong focus on innovation."The ChannelWorld Premier 100 .