Page 3272 - Business Finance

India's Exports Up Nearly 19% Over Year In April-June 2018

India's exports during June 2018 were valued at US $ 27.70 Billion as compared to US $ 23.56 Billion during June 2017 exhibiting a positive growth of 17.57 per cent. In Rupee terms, exports were valued at Rs. 187800.20 crore in June 2018 as compared to Rs. 151844.56 crore during June 2017, registering a positive growth of 23.68 per cent. Cumulative value of exports for the period April-June 2018-19 was US$ 82.47 Billion (Rs 552781.61 crore) as against US $72.21 Billion (Rs 465472.04 crore) registering a positive growth of 14.21 per cent in Dollar terms and 18.76 per cent in Rupee terms over the same period last year.

US tariff on steel import may indirectly affect India: Minister

Union Steel Minister Chaudhary Birender Singh today said the 25 per cent tariff imposed by the US on steel import can 'indirectly' affect the domestic sector. US President Donald Trump has imposed a 25 per cent import tariff on steel and 10 per cent on aluminium. Singh had earlier said the US' levy of heavy tariffs on imported steel and aluminium would not have any major impact on steel production in India as steel export to US was only 3.3 per cent of total exports. However, today speaking at a conference here, he said: "The US decision to impose 25 per cent tariff on steel imports will have negligible direct impact (on India's export) as India's share of US Steel imports is very small as compared to other countries but there might be an indirect impact". The minister said India may be exporting very less amount of steel to the US but other countries export in huge quantity to that country and with high tariffs in place they may start looking for new steel consuming markets like ...

IHH to takeover Fortis; to rebrand hospital chain to Gleneagles in future

Fortis Healthcare board today approved Rs 4,000-crore offer from Malaysia's IHH Healthcare for 31.1 per cent stake in it, valuing the cash-strapped firm at Rs 8,880 crore thus ending months of takeover battle. IHH Healthcare, which is expected to gain majority control of India's second-largest hospital chain after a mandatory open offer for an additional 26 per cent stake, said in the long term it would rebrand Fortis hospitals into its own Gleneagles chain. The Malaysian healthcare major which offered to infuse the capital at Rs 170 per share pipped rival Manipal-TPG combine's Rs 2,100-crore offer at Rs 160 per share. "The transaction is expected to be completed within seven business days of receipt of shareholders' and CCI's approval, which will be obtained concurrently with shareholders' approval and can take approximately 60-75 days," Fortis Healthcare said in a statement. Commenting on the development, Fortis Healthcare Chairman Ravi Rajagopal said the IHH proposal offered a more

HCL Tech shares down over 2 pc, mcap drops by Rs 2,831 cr

Shares of HCL Technologies today fell by over 2 per cent a day after the company said its board has approved up to Rs 4,000 crore buyback plan. The stock declined 2.03 per cent to close at Rs 984.85 on the BSE. Intra-day, it lost 2.75 per cent to Rs 977.60. On the NSE, shares of the company went down by 2.25 per cent to end at Rs 983.35. The company's market valuation fell by Rs 2,830.83 crore to Rs 1,37,131.17 crore. In terms of equity volume, 3.31 lakh shares of the company were traded on the BSE and over 57 lakh shares changed hands on the NSE during the day. HCL Technologies yesterday said its board has approved up to Rs 4,000 crore buyback plan, involving up to 3.63 crore shares at a price of Rs 1,100 per equity share. In a regulatory filing yesterday, HCL Technologies said: "...the board of directors of the company, in its meeting ... have approved the buy-back of up to 3,63,63,636 fully paid up equity shares of the company of face value of Rs 2 each...at a price of Rs 1,100 per

Odisha's single-window portal receives 300 investment proposals

The government of Odisha's Single Window for Investor Facilitation and Tracking (GO-SWIFT) has received 300 proposals from investors across the country, an official said on Friday.

Indian Pharma Industry's Revenues Estimated To Have Surged 7.4% In 2017

The Indian pharmaceuticals market witnessed growth at a compound annual growth rate (CAGR) of 5.64%, during 2011 to 2016, with the market increasing from US$ 20.95 billion in 2011 to US$ 27.57 billion in 2016. The industry's revenues are estimated to have grown by 7.4% in 2017, according to a latest update from the Commerce Ministry.

Citigroup profit rises 16 percent on lower taxes, higher fee income

(Reuters) - Citigroup Inc reported a 16 percent increase in quarterly profit on Friday, as the Wall Street bank benefited from lower taxes, higher fee income and strength in its consumer banking business in Mexico.

Crown Tours reports standalone net loss of Rs 0.10 crore in the June 2018 quarter

Sales rise 51.28% to Rs 1.18 crore

Cyient standalone net profit rises 8.79% in the June 2018 quarter

Sales rise 15.89% to Rs 383.70 crore

Cyient consolidated net profit declines 4.11% in the June 2018 quarter

Sales rise 19.55% to Rs 1080.00 crore

Adinath Exim Resources standalone net profit rises 100.00% in the June 2018 quarter

Sales rise 900.00% to Rs 0.10 crore

3i Infotech standalone net profit rises 123.39% in the June 2018 quarter

Sales rise 5.99% to Rs 58.70 crore

Dhruv Estates reports standalone net loss of Rs 0.02 crore in the June 2018 quarter

Reported sales nil

3i Infotech consolidated net profit declines 27.92% in the June 2018 quarter

Sales rise 1.12% to Rs 241.98 crore

Infosys standalone net profit rises 2.58% in the June 2018 quarter

Sales rise 13.93% to Rs 17056.00 crore

Infosys consolidated net profit rises 3.70% in the June 2018 quarter

Sales rise 12.00% to Rs 19128.00 crore

Outcome of board meeting of Boston Leasing & Finance

Held on 12 July 2018

Music Broadcast to hold board meeting

On 24 July 2018

India can become 5th largest economy next year: Jaitley

Buoyed by recent World Bank figures, Union Finance Minister Arun Jaitley has said India is likely to become the fifth largest economy next year, surpassing Great Britain, if the country continues its projected growth trajectory.

Ramgopal Polytex to conduct board meeting

On 20 July 2018