Page 3080 - Business Finance
US, Japan to begin trade deal talks on August 9
The US and Japan will begin negotiations on August 9 to reach a bilateral trade agreement, it was announced here on Tuesday.
India's fiscal deficit in June touches 68.7% of year's target
India's budgetary fiscal deficit rose further in June and stood at Rs 4.29 lakh crore touching 68.7 per cent of the current year's target, official data showed on Tuesday.
IIFL Holdings Q1 net profit up 36 pc at Rs 345 cr
IIFL Holdings has reported a rise of 36 per cent in its consolidated net profit at Rs 344.55 crore for the first quarter ended June of the current fiscal. The company's net profit in the corresponding April-June period of 2017-18 fiscal stood at Rs 252.71 crore. Total income in the quarter ended June of 2018-19 fiscal increased to Rs 1,806.37 crore from Rs 1,434.62 crore, IIFL Holdings said in a regulatory filing. IIFL Holdings is mainly engaged in the business of investment banking. Stock of the company closed 0.36 per cent down at Rs 673.10 apiece on the BSE.
BOJ seeks to make its ammunition last longer as options dwindle
TOKYO (Reuters) - The Bank of Japan pledged to keep its massive stimulus in place but made tweaks to reduce adverse effects of its policies on markets and commercial banks, reflecting the central bank's view that its inflation target remains stubbornly out of reach.
Dabur shares jump over 7 pc after Q1 results
Shares of FMCG major Dabur India today soared over 7 per cent after it reported 24.59 per cent rise in consolidated net profit for the first quarter ended June 30. The scrip of the homegrown FMCG firm jumped 6.96 per cent to settle at Rs 420.25 on the BSE. Intra-day, it surged 9 per cent to Rs 428.60 -- its 52-week high. On the NSE, shares of the company advanced by 7.25 per cent to end at Rs 422. Dabur India today reported 24.59 per cent rise in consolidated net profit to Rs 330 crore for the first quarter ended June 30, 2018-19, driven by volume growth in key categories. It had posted a net profit of Rs 264.86 crore in the April-June period of the last fiscal, Dabur India said in a BSE filing. The total income of the company for the quarter under review was at Rs 2,154.33 crore. It was Rs 1,871.34 crore in the corresponding quarter of 2017-18.
DCM Shriram Q1 profit down 6 pc at Rs 218 cr due to losses in sugar biz, income up marginally
DCM Shriram today reported 6 per cent decline in its consolidated net profit at Rs 218.34 crore for the first quarter of this fiscal due to losses in sugar business. Its net profit stood at Rs 233.47 crore in the year-ago period, the company said in a regulatory filing. Total income from operations, however, rose marginally to Rs 2,077.66 crore during April-June period of 2018-19 fiscal from Rs 2,065.03 crore in the corresponding period of the previous year. "Margin and working capital pressures in sugar business led to PAT going down by 6.5 per cent," the company said in a statement. The national capital-based DCM Shriram is engaged in various businesses including chloro-vinyl, sugar, fertilisers, seeds, cement and Fenesta window system. "All our businesses have done well except sugar segment," the company's chairman and senior MD Ajay Shriram told PTI about the company's quarterly performance. The company sold sweetener at a loss of Rs 7 per kg during the quarter, he said, adding ...
Britain's car industry cautions: No-deal Brexit is our nightmare
LONDON (Reuters) - A no-deal Brexit would seriously damage the car industry in Britain and the European Union by raising costs and sowing chaos for carmakers and consumers alike, the head of Britain's car industry warned on Tuesday.
Chawla takes charge as Southern Naval Commander
Vice Admiral Anil Kumar Chawla on Tuesday took over as Flag Officer Commanding-in-Chief of the Southern Naval Command (SNC) as Flag Officer Commanding-in-Chief.
India's June infrastructure output growth hits seven-month high of 6.7 percent
NEW DELHI (Reuters) - India's annual infrastructure output grew 6.7 percent in June from a year ago, government data showed on Tuesday, its fastest pace in seven months.
Fortive to buy software maker Accruent for $2 billion
(Reuters) - Industrial products maker Fortive Corp said on Tuesday it would acquire software maker Accruent from Genstar Capital for about $2 billion in cash.
Tata Motors Q1 net loss at Rs 1,862 cr
Tata Motors Group today reported a consolidated net loss of Rs 1,862.57 crore for the quarter ended June 30, 2018. The company had reported a net profit of Rs 3,199.93 crore in the April-June quarter of 2017-18. Total revenue from operations however rose to Rs 67,081.29 crore as compared with Rs 59,818.22 crore in the year-ago period, Tata Motors said in a regulatory filing. On standalone basis, the company reported a net profit of Rs 1,187.65 crore. It had reported a net loss of Rs 463.14 crore in the first quarter of 2017-18. Total revenue from operations grew to Rs 16,803.11 crore during the quarter from Rs 10,366.19 crore in the same period of 2017-18. Standalone volume rose 59 per cent to 1,76,868 units driven by robust sales of commercial and passenger vehicles. JLR revenue however declined 6.7 per cent to 5.2 billion pounds. Commenting on the domestic business, Tata Group Chairman Natarajan Chandrasekaran said the company continues to gain market share while strongly improving .
Jindal Steel & Power bags prestigious order from Indian Railways
For supply of 1 lakh tonnes of rails
Procter & Gamble quarterly sales below estimates, shares fall
(Reuters) - Procter & Gamble Co's quarterly sales fell below Wall Street estimates on Tuesday, as the consumer products company had a disappointing performance at its grooming unit that makes Gillette razors and shaving products.
Tata Motors reports first quarter loss
(Reuters) - India's Tata Motors Ltd reported on Tuesday a loss for the three months through June, hurt by higher raw material costs.
Tata Motors reports first-quarter loss
(Reuters) - India's Tata Motors Ltd reported on Tuesday a loss for the three months through June, hurt by higher raw material costs.
Canada's Shopify posts bigger quarterly loss as costs soar
(Reuters) - Shopify Inc, which helps companies build their online stores, reported a bigger quarterly loss on Tuesday as marketing and research costs surged.
Smelter closure hurts India's Vedanta, first-quarter profit lags estimate
(Reuters) - Vedanta Ltd on Tuesday reported a 2 percent rise in first-quarter profit, but missed analysts' estimates, as closure of its copper smelter in South India offset higher volumes at its aluminium and oil & gas businesses.
Fiscal deficit shows improvement in Q1 on higher revenue
Government's finances have shown improvement in the June quarter of 2018-19 with fiscal deficit working out to 68.7 per cent of the Budget Estimate, mainly on account of higher revenue collection, official data reveal. The deficit was at 80.8 per cent of BE in the April-June quarter of last fiscal. In actual terms, the fiscal deficit or gap between the total expenditure and receipts was Rs 4.29 lakh crore. The government had budgeted to cut fiscal deficit to 3.3 per cent of GDP in the current fiscal, from 3.53 per cent in 2017-18. The fiscal deficit target for the current financial year is Rs 6.24 lakh crore. As per the data released by the Controller General of Accounts (CGA), the tax collection at end-June was Rs 2.37 lakh crore or 16 per cent of the BE. The total receipts of the government were Rs 2.78 lakh crore during April-June quarter or 15.3 per cent of the BE. In the similar period of 2017-18, the collection was 13.1 per cent of the BE. The CGA data showed that total ...
Indices settle at record high
Domestic stocks extended their recent record-setting spree on buying demand in index pivotals. The barometer index, the S&P BSE Sensex, rose 112.18 points or 0.30% to settle at 37,606.58. The Nifty 50 index rose 36.95 points or 0.33% to settle at 11,356.50. Both the Sensex and the Nifty hit record high on intraday as well as closing basis. Investors awaited the Reserve Bank of India's monetary policy decision tomorrow, 1 August 2018.
Godrej Consumer Products consolidated net profit rises 79.88% in the June 2018 quarter
Sales rise 12.69% to Rs 2448.52 crore