Page 3083 - Business Finance

General Atlantic gets CCI nod to buy stake in IIFL Wealth

Investment firm General Atlantic Singapore Fund has received fair trade regulator CCI's approval to buy over 5.66 lakh shares of IIFL Wealth Management. Asset management firm IIFL Wealth is a subsidiary of IIFL Holdings. In a tweet today, the Competition Commission of India (CCI) said it has approved "acquisition of 5,66,500 equity shares of IIFL Wealth Management Ltd by General Atlantic Singapore Fund, pursuant to exercise of its pre-emptive rights". According to the notice submitted to the CCI, General Atlantic Singapore Fund had proposed to subscribe to 5,66,500 equity shares of IIFL Wealth Management, following the exercise of its pre-emptive rights under the shareholders agreement dated October 24, 2015. In January 2016, the regulator had approved General Atlantic Singapore Fund's acquisition of 21.61 per cent stake in IIFL Wealth Management. General Atlantic Singapore Fund is managed and advised by entities controlled by General Atlantic Service Company. IIFL Wealth Management ..

Pfizer beats profit estimates on higher sales of Prevnar, Xeljanz

(Reuters) - U.S. drugmaker Pfizer Inc posted a better-than-expected quarterly profit on Tuesday, driven by higher sales of pneumonia vaccine Prevnar and arthritis drug Xeljanz.

Maha food rule can reduce multiplex profits by 200bps: Crisil

The multiplex industry is likely to see its operating profit diminish by 200 basis points or by around Rs 100 crore, if half of the movie-goers in the state carry their own food and beverages, according to Crisil. The rating agency estimates that multiplexes in the state will be required to increase ticket prices by Rs 70 to offset the impact on the food and beverages (F&B) division, while observing that such a sharp hike may not go well with movie-goers. The state government this month made it clear that while there can not be any ban on carrying outside eatables to the theatres, strict action would be taken against overcharging multiplexes from August 1. A public interest litigation on this is pending before the Bombay High Court. Maharashtra accounts for roughly a quarter of the revenues of multiplex operators, and non-ticket segments comprising F&B and advertising are highly profitable and subsidise losses on ticket sales. The agency noted that non-ticket ...

Punjab National Bank announces MCLR rates for different tenures

With effect from 01 August 2018

H.G. Infra Engineering consolidated net profit rises 43.06% in the June 2018 quarter

Sales rise 36.00% to Rs 450.17 crore

Oberoi Realty consolidated net profit rises 238.65% in the June 2018 quarter

Sales rise 240.71% to Rs 888.26 crore

S P Capital Financing consolidated net profit declines 20.00% in the June 2018 quarter

Sales rise 15.09% to Rs 0.61 crore

Allied Digital Services standalone net profit declines 9.38% in the June 2018 quarter

Sales rise 0.68% to Rs 17.82 crore

Asian Hotels (East) standalone net profit rises 32.66% in the June 2018 quarter

Sales decline 0.57% to Rs 24.57 crore

Kothari Petrochemicals reports standalone net profit of Rs 1.89 crore in the June 2018 quarter

Sales rise 71.04% to Rs 75.94 crore

Inani Securities standalone net profit declines 40.00% in the June 2018 quarter

Sales decline 22.95% to Rs 0.47 crore

General Insurance Corporation of India standalone net profit rises 97.74% in the June 2018 quarter

Sales rise 14.14% to Rs 14584.27 crore

Manraj Housing Finance reports standalone net loss of Rs 0.61 crore in the June 2018 quarter

Reported sales nil

Natural Capsules reports standalone net profit of Rs 0.47 crore in the June 2018 quarter

Sales rise 27.55% to Rs 14.26 crore

Gillanders Arbuthnot & Company reports standalone net profit of Rs 0.32 crore in the June 2018 quarter

Sales rise 4.48% to Rs 159.36 crore

Allied Digital Services consolidated net profit declines 7.39% in the June 2018 quarter

Sales rise 10.91% to Rs 58.85 crore

Nath Bio-Genes (India) standalone net profit rises 28.89% in the June 2018 quarter

Sales rise 25.08% to Rs 126.96 crore

Redington India standalone net profit declines 32.08% in the June 2018 quarter

Sales rise 5.14% to Rs 3570.55 crore

Mahanivesh (India) reports standalone net loss of Rs 0.03 crore in the June 2018 quarter

Sales decline 99.10% to Rs 0.02 crore

Geefcee Finance reports standalone net loss of Rs 0.03 crore in the June 2018 quarter

Sales decline 98.02% to Rs 0.02 crore