Page 314 - Business Finance
ICCPL, India's top public relation agency posts a robust 100 per cent growth in FY 18-19
Integrated center for consultancy pvt Ltd (ICCPL), country's leading PR agency has posted a robust growth of over 100 per cent in FY 18-19. The growth has been majorly because of its expansion in newer cities and the increased number of clients in Delhi/NCR.ICCPL during FY 18-19 expanded its business in newer cities like Chandigarh, Hyderabad, Kolkata, Lucknow and Mumbai and also acquired clients in respective cities. Along with expansion, the agency has strengthened its base in Delhi/NCR by increasing its clientele and also expanding its domain to newer sectors like co-working, start ups, e-commerce, and technology along with its strong hold in real estate, education and hospitality.Real estate has been ICCPL's core forte of working and with the sector reviving, the agency saw an increase of over 50 per cent in its clientele for real estate and acquired new clients like Arihant, Fairwealth, Sushma Group, Realistic Realtors, ABA Corp, Housing.com, Proptiger, Bhutani Group, GBP, Wealth
Indian success expected to contribute to Singapore firm's growth
Singapore, May 20 (ANI): Singapore conglomerate Sembcorp Industries Limited (Sembcorp) reported a net profit of SGD 93 million (USD 68 million) for the first quarter of 2019. This is a 20 per cent improvement compared with the SGD 77 million achieved in the corresponding period of last year.It's urban and energy businesses grew but its marine business was a drag on performance as a result of lower business volumes from its rigs and floaters and offshore platform projects. Net profit from the marine division fell to SGD 239,000 from SGD 2 million a year ago.Despite better profit overall, revenue for the first three months of the year ending March 31st was down 10 per cent from a year ago, falling from SGD 2.8 billion to SGD 2.5 billion. The company follows the calendar year in its financial reporting.The bright spot in its performance is the recovery of its Indian energy business under its Indian subsidiary Sembcorp Energy India Limited (SEIL).SEIL reported a 12 per cent rise in ...
Stocks jump as exit polls predict NDA win
Domestic stocks logged strong gains on first trading day of the week led by index heavyweights HDFC, Reliance Industries and HDFC Bank. The barometer index, the S&P BSE Sensex, surged 1,421.90 points or 3.75% at 39,352.67. The Nifty 50 index surged 421.10 points or 3.69% at 11,828.25. Sentiment was boosted after most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls.
EU firms 'caught in crossfire' of US-China trade war
European firms are "caught in the crossfire" of the US-China trade war and fewer are optimistic about their future in the world's second-largest economy, a business survey showed Monday. The clash between Beijing and Washington does not benefit European companies, contrary to what some might have hoped at the beginning of the dispute last year, according to the European Union Chamber of Commerce in China. "Now the trade tensions are seen as another uncertainty on the business environment, something that won't be sorted out quickly whether there is a deal or not," said chamber vice president Charlotte Roule. "The trade tensions, according to our members, are not good for business". According to the survey, the trade war is one of the top concerns for European firms in China (23 per cent), after the Chinese economic slowdown (45 per cent), the global economy (27 per cent) and rising labour costs in China (23 per cent). The study, which received replies from 585 firms, was conducted in .
IKEA's parent Ingka Group invests in Livspace
Home design and renovation platform Livspace said IKEA's parent Ingka Group has invested an undisclosed sum in the India-based company. "Ingka Investments, the investment arm of Ingka Group (Ingka Holding B.V and its controlled entities), has made a minority investment in the company. Ingka Group is a strategic partner in the IKEA franchise system, representing 90 per cent of the total IKEA retail sales through 367 stores in 30 markets including India," Livspace said in a statement. With Ingka's strong global footprint and Livspace's disruptive technology platform, the investment enables a sharing of expertise between the two companies, it added. Livspace said it will deploy its newly raised funds across areas such as developing new home interior solutions and products, market expansion as well as growing its offline footprint. "On one hand, the investment gives us the opportunity to create one of the best omni-channel interiors and furniture purchase experience for homeowners. On the
Hong Kong Market falls 0.57%
Market sentiment has been hurt after reports that further trade talks between Beijing and Washington are now being put on hold. The news came after the U.S. President Donald Trump and his administration imposed sanctions on Chinese giant telecom company Huawei. U.S.-based firms are now required to have a license if they want to conduct business with the Chinese company.
Dr Reddys to spend upto USD 300 million on R&D in FY 20
: Dr Reddys Laboratories is planning to spend upto USD 300 million on research and development (R&D) during this financial year, a senior official of the company has said. President, CFO and global head (HR) of Dr Reddy's Saumen Chakraborty, during an 'earnings call', said the drug- maker spent USD 226 million during the last fiscal against USD 264 million in FY 18. The R&D spend for the quarter (January-March FY 19) is Rs 366 crore, that is USD 53 million and EBIT 9.19 per cent of the sales for the quarter, he said. The spend is lowered by 16 per cent year-on-year and is flat on a sequential quarter basis. The spend for FY 19 is Rs 1,551 crore. That is USD 226 million as against USD 264 million in FY 18, Chakraborty said. "We expect the overall R&D for FY 20 would be in the range of USD 250 million to USD 300 million," he said replying to a query. The company would continue to focus on R&D for some interesting pipeline of proprietary products. But, on ..
China Market extends losses
Market sentiment has been hurt after reports that the U.S. President Donald Trump and his administration imposed sanctions on Chinese giant telecom company Huawei. U.S.-based firms are now required to have a license if they want to conduct business with the Chinese company.
Sebi slaps Rs 1 cr fine on En Aromatic & Petro Chemicals
Markets regulator Sebi levied a fine of Rs 1 crore on En Aromatic & Petro Chemicals Ltd for indulging in illegal fund raising and failing to comply with the public issue norms. The regulator during its investigation found that the company had issued redeemable cumulative preference shares (RCPs) to over 89,000 investors between 2003-2004, and 2010-2011. The firm had raised nearly Rs 61.5 crore through the RCPS offer. The firm while supplying certified statement for mobilisation of funds through issuance of RCPs stated that "the issue of preference shares is through private placement and therefore the company does not need to file prospectus/red herring prospectus with the ROC," Sebi noted in its order dated May 17. However, Sebi said that an offer made for subscription of shares or debentures to 50 persons or more amounts to public issue and is not considered an issue of shares or debentures by private placement. Thus, the "noticee was required to comply with various public issue .
TV Today Q4 net falls 38 pc to Rs 20.21 crore
Media firm TV Today Network Monday reported a 38.02 per cent fall in standalone net profit at Rs 20.21 crore for the fourth quarter ended March 31, 2019. The company had reported a net profit of Rs 32.61 crore during the corresponding quarter last year. Total income during the quarter under review stood at Rs 180.61 crore, down 4.61 per cent from Rs 189.35 crore during the same period last year, the company said in a BSE filing. Shares of TV Today Network were trading 3.18 per cent lower at Rs 274 apiece on the BSE.
GSK Pharma Q4 net profit rises 16.56 pc to Rs 123 cr
Drug firm GlaxoSmithKline Pharmaceuticals Monday reported a 16.56 per cent rise in its standalone net profit to Rs 123.03 crore for the quarter ended March 31. The company had posted a net profit of Rs 105.55 crore for the corresponding period of the previous fiscal, GlaxoSmithKline Pharmaceuticals said in a filing to the BSE. Its standalone revenue from operations stood at Rs 751.22 crore for the quarter under consideration. It was Rs 748.62 crore for the corresponding quarter a year ago. For the fiscal year ended March this year, the company posted a net profit of Rs 425.36 crore as against Rs 351.98 crore for the previous fiscal year. Standalone revenue from operations for the fiscal year ended March 2019 stood at Rs 3,128.53 crore. It was Rs 2,895.88 crore for the year-ago fiscal. The company said its board has recommended a dividend of Rs 20 per equity share on a face value of Rs 10 each for the year ended March 31. Shares of GlaxoSmithKline Pharmaceuticals were trading at Rs ...
Outcome of board meeting of T.V. Today Network
At meeting held on 20 May 2019
Board of Capital India Finance approves grant of 3.05 lakh shares under ESOP
At meeting held on 20 May 2019
Ashok Leyland ready to ride on Elon Musk's India dream
Tesla CEO Elon Musk who has been moving back and forth on his India dream for couple of years and unable to take the next big step now has an invitation from commercial vehicles major Ashok Leyland.
Rising demand lifts chana futures by 1.43 per cent
Chana prices went up by 1.43 per cent to Rs 4,678 per quintal in futures trade Monday as participants expanded their positions, driven by rising demand in the spot market. On the National Commodity and Derivatives Exchange, chana for delivery in July was trading higher by Rs 66, or 1.43 per cent, at Rs 4,678 per quintal with an open interest of 1,38,180 lots. Similarly, chana for delivery in August was trading higher by Rs 64, or 1.36 per cent, at Rs 4,786 per quintal with an open interest of 14,310 lots. Analysts said widening of positions by traders, following rising demand in the spot market against restricted supplies from producing regions, mainly led to the rise in prices.
Zee Learn Q4 PAT zooms 79 pc to Rs 31 crore
Zee Learn has posted a 79.4 per cent increase in consolidated profit after tax to Rs 31.28 crore for the quarter ended March 31, on the back of higher revenue from operations. The company had posted a consolidated profit after tax (PAT) of Rs 17.43 crore in the year-ago period, Zee Learn said in a filing to the BSE on Friday. The consolidated revenue from operations during the January-March quarter increased to Rs 165.34 crore, compared with Rs 89.77 crore a year ago. "During the year, we expanded operating margins, improved the quality of our product mix, generated sufficient cash flow for operations and continued to streamline our product portfolio. "These results reflect our unrelenting commitment to all the stakeholders and our intense focus on disciplined execution within our core businesses," Zee Learn Chief Executive Officer Debshankar Mukhopadhyay said. "The overall performance of the company for this year and the past few years has been good. The company has now got all the ..
ACEF Collaborates With NetBiz for Global Customer Engagement Awards
/ -- Celebrating outstanding achievements by influential brands in customer engagement, marketing and CSR sectors, the Global Customer Engagement Forum and Awards welcomed guests and dignitaries to its 8th edition on 25th April, 2019. ACEF received over 730 entries from 200 companies, with awards in several categories including, Effective use of Market Research, Successful use of CSR Activity, Most Admired OOH Agency of the Year, Effective use of Media, Creativity, Innovation, Effectiveness and Successful use of Technology. The event was held at The Westin Hotel, Mumbai with the theme 'Artificial Intelligence for Enterprises - Accelerate 10X'. Entrepreneurs and leaders from across the media industry were invited to speak on various topics for the forum of artificial intelligence, such as: Future of Advertising & Media in the AI World Innovation with AI in OOH Enterprise Future Depends on AI Innovations Use of AI across Media & Entertainment How Brands Can Get Ready to Use
Gold imports rise 54 pc to USD 3.97 billion in April
Gold imports increased 54 per cent to USD 3.97 billion in April, widening the country's trade deficit and fuelling worries about the current account deficit (CAD). Imports of the precious metal stood at USD 2.58 billion in April 2018, according to data from the commerce ministry. Increase in gold imports pushed the country's trade deficit to a five-month high of USD 15.33 billion in April. The country's current account deficit (CAD) widened to 2.5 per cent of GDP in the third quarter of the last financial year from 2.1 per cent a year ago, primarily on account of a higher trade deficit, though the foreign exchange reserves continued to soar. CAD is the difference between outflow and inflow of foreign exchange. After recording a negative growth in imports in February, gold imports started registering double-digit growth. In March, it grew 31 per cent to USD 3.27 billion. India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In volume terms,
Refined soya oil futures gain 0.15% on spot demand
Refined soya oil prices advanced 0.15 per cent to Rs 739.7 per 10 kg in futures trade Monday as speculators raised their positions on the back of spot demand. On the National Commodity and Derivatives Exchange, refined soya oil for June contracts went up by Rs 1.1, or 0.15 per cent, to Rs 739.7 per 10 kg with an open interest of 41,270 lots. On similar lines, the oil for July contracts was trading higher by 95 paise, or 0.13 per cent, to Rs 726.5 per 10 kg in 16,550 lots. Analysts said, expanding of positions by traders following positive demand at the spot market mainly kept refined soya oil prices to trade higher.
Japan Market gains on solid GDP growth data
The positive start came after government data showed the world's third-largest economy grew at an annualised rate of 2.1%, accelerating slightly from the previous quarter's growth backed by net export gains.