Page 3283 - Business Finance
Govt spending on infra projects to propel demand for commercial cooling products: Toshiba Carrier
The government's spending on infrastructure coupled with a revival in the real estate sector will spur demand for commercial cooling products, Toshiba Carrier Corporation (TCC) said today. TCC, which provides cooling solutions for the commercial sector, is a JV between Japan's Toshiba and US-based United Technologies, which owns Carrier Air Conditioner. The company today unveiled new products to expand its offerings here. "Our overall business in India is growing in double digits from last 3-4 years," United Technologies -Climate, Controls & Security, India Region Managing Director Arun Bhatia said. "The government is spending on infrastructure and we are definitely seeing our pipeline on that side going up as new metro, hospitals, airports are coming up, while on the private side, commercial real estate is coming back," he added. Bhatia also expects high-end residential projects as well as the Smart City scheme to give a further fillip to demand. The company is working with ...
Moody's upgrades Lodha Developers' rating outlook to positive
Rating agency Moody's has upgraded the outlook of realty major Lodha Developers (LDL) to positive from stable on expectation of improvement in the company's operating sales. Lodha Developers plans to raise about Rs 5,500 crore through its proposed initial public offer (IPO). "The positive outlook on LDL's ratings reflect our expectation that the improvement in the company's operating sales and collections will be sustained and will lead to an improvement in its financial profile, such as to support a higher rating over the next 12-18 months," Moody's Assistant Vice President and Analyst Saranga Ranasinghe said. Moody's Investors Service has affirmed LDL's B2 corporate family rating (CFR) and also the B2 backed senior unsecured debt rating of the US-dollar denominated bonds issued by Lodha Developers International Ltd and guaranteed by LDL. Moody's has also changed the outlook on the ratings to positive from stable, the agency said in a statement. "We expect LDL's operating sales to ...
CPI inflation rises to 5% in June 2018
Core CPI Inflation moves up to 6.35% in June 2018
Board of SRS Real Infrastructure appoints directors, CFO and company secretary
At meeting held on 12 July 2018
Goldman Sachs, Prysmian, others lose challenge against EU cartel fine
LUXEMBOURG (Reuters) - Investment bank Goldman Sachs, the world's biggest cablemaker Prysmian, Nexans and eight other cable companies on Thursday lost their challenge against a 302 million euros ($353 million) EU cartel fine.
RCom alleges govt of bias in Idea-Vodafone merger case; DoT denies charges
Reliance Communications has alleged DoT of adopting discriminatory approach by demanding bank guarantee from the company for one-time spectrum charges, while approving Vodafone-Idea merger without making similar demand, sources said today. However, the allegations have been rejected by the telecom department. In a letter dated July 10, 2018 to telecom secretary Aruna Sundararajan, debt-ridden telecom firm Rcom referred to conditional approval given to Idea Cellular and Vodafone India to go ahead with their merger deal without insisting on any bank guarantee (BG) against pending one-time spectrum charges (OTSC) of Vodafone, as per the sources. "We request DoT not to adopt any such discriminatory, inconsistent and unfair stand against RCom as compared to a completely opposite and favourable stand for Vodafone, and to instead release the bank guarantees of Rs 2000.1 crore immediately," RCom said. The telecom department has demanded payment of Rs 3,976 crore for one-time spectrum charge .
Oil prices flat as IEA warns of output capacity limits
LONDON (Reuters) - Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world's oil supply cushion "might be stretched to the limit" due to production losses.
Dubai warns of action against China on Djibouti trade zone
Dubai today threatened to take legal action against China for building an international free trade zone in Djibouti on a terminal disputed with the strategic Horn of Africa nation. The warning came one week after Djibouti launched the first phase of Africa's biggest free trade zone, developed by China, months after scrapping a concession agreement with Dubai's global port operator DP World. China, which has the only foreign military base near the Red Sea terminal, is developing and financing the free trade zone as it considers Djibouti an important part of its USD 1 trillion "Belt and Road" global investment initiative. "DP World reserves the right to take all available legal actions, including claims for damages against any third parties that interfere or otherwise violate its contractual rights," the port operator said in a statement. The tiny nation of Djibouti overlooks the Bab al-Mandab strait at the mouth of the Red Sea on the key shipping lane through the Suez Canal to Europe ..
Wall Street bounces back on deals, earnings hope
(Reuters) - U.S. stocks opened higher on Thursday, recovering from a selloff a day earlier as higher oil prices and merger activity helped offset fears of a Sino-U.S. trade war.
Rupee climbs to 1-week high as crude dives, ends at 68.57
The rupee today surged by 20 paise to end at a one-week high of 68.57 against the US dollar buoyed by a steep fall in crude prices and a strong rally in equity markets. Forex market witnessed a revival in sentiment after crude prices plunged the most in two years on supply glut worries after Libya said its four oil export terminals were reopening, ending a standoff that had closed most of its oil output. The benchmark Brent crashed over 7 per cent yesterday before regaining some lost ground in early Asian trade at USD 74.80 a barrel. The Indian currency gained further ground even as the US dollar was strong in global markets amid trade war concerns between the US and China. It touched a high of 68.50 in early trade. The home currency also made a strong comeback against the British pound, euro and Japanese Yen. A strong rally in equities buoyed by optimism about robust corporate earnings season also a progressing monsoon also lent support to the rupee. The BSE- Sensex closed at a fresh
Wall Street set to rebound as deals, earnings hope dim trade fears
(Reuters) - The three main U.S. indexes were set to open higher on Thursday as oil prices rose and a couple of big deals helped rekindle optimism and offset fears of a Sino-U.S. trade war.
Fiscal pressures emerging for several states: RBI
Fiscal pressures are emerging for several states on the expenditure side, under committed heads, said a Reserve Bank of India (RBI) report, released here on Thursday.
Retail inflation hits five-month high of 5 pc in Jun
Retail inflation spiked to a five-month high of 5 per cent in June on costlier fuel, despite easing food prices, reducing possibilities of an interest rate cut by the Reserve Bank in its upcoming monetary policy review. The retail inflation based on Consumer Price Index (CPI) stood at 4.87 per cent in May. It was 1.46 per cent in June 2017. The earlier high was in January this year at 5.07 per cent. As per the data released by the Central Statistics Office (CSO), the inflation in the food basket was 2.91 per cent, compared to 3.1 per cent in May, due to slower rate of price rise articles such as fruits, vegetables and cereals. The inflation in fuel and light category, however, went up to 7.14 per cent as against 5.8 per cent in May. The CSO said the price data for CPI inflation were collected from selected towns by the Field Operations Division of NSSO (National Sample Survey Office) and from selected villages by the Department of Posts. The data further showed that inflation in ...
Industrial production growth moderates to 3.2% in May 2018
13 out of 23 manufacturing industry groups show positive production growth in May 2018
RIL's market-cap re-enters $100-bn mark; shares hit 52 week high
Supported by a surge in share prices, stocks of Reliance Industries hit $100-billion market capitalisation (m-cap) mark on Thursday, for the second time after first reaching the landmark level on October 18, 2007.
CV industry sales to grow by 9-11% in current fiscal: Icra
Domestic commercial vehicle (CV) industry is expected to grow in the range of 9-11 per cent this fiscal, driven by pick up in the infrastructure projects and industrial activity, as per a report by ratings agency Icra. Robust demand from consumption-led sectors and the rural market is also expected to help the growth of the industry, it said. During the first quarter of the current fiscal, the CV volumes grew by 51 per cent. Last fiscal the industry had witnessed a growth of 20 per cent. "Icra maintains a stable outlook for the domestic CV industry, expecting it to grow in the range of 9-11 per cent during FY2019," the ratings agency said. Elaborating further, Icra Vice President & Sector Head - Corporate Ratings Shamsher Dewan said demand for trucks continues to remain strong, driven by pickup in construction activity and overall healthy cargo demand. "In particular, North India has reported healthy momentum in demand for tractor trailers and MAVs haulage trucks attributable to ..
Outcome of board meeting of Panth Infinity
Held on 12 July 2018
Shriram City Union Finance schedules board meeting
On 25 July 2018
Nifty reclaims 11,000-mark, up 74.90 points
The Nifty 50 index rallied by 74.90 points to close at 11,023.20 today on buying in energy, banking, finance service and infra sectors. An overnight slump in crude oil prices and positive global cues raised sentiment on the domestic bourses. Overseas, shares in Europe and Asia edged higher despite lingering concerns around the US-China trade war. The NSE Nifty rose by 74.90 points or 0.68 per cent to end at Rs 11,023.20 -- its highest closing level since January 31, 2018 -- after hovering in a range of 11,078.30 and 10,999.65. It is 148 points away from its all-time high of 11,171.55 hit on January 29, 2018. It saw an intra-day movement of about 78.65 points. Broader markets declined. The NSE Mid-Cap and Small-Cap indices fell 0.44 per cent and 0.18 per cent, respectively. Among the sectoral indices, Energy rose 2.68 per cent, followed by PSU bank 1.12 per cent, Finance Service 0.98 per cent, Bank 0.78 percent, Private Bank 0.68 per cent, Infra 0.45 per cent, FMCG 0.44 per cent and .
Piramal Realty eyes Rs 2,200 cr sales revenue from Mumbai housing project
Piramal group's real estate firm Piramal Realty today said it expects Rs 2,200 crore sales revenue from the second tower of its luxury housing project in south Mumbai. The company had tied up with Omkar Realtors for housing project 'Piramal Mahalaxmi' that has over 2 million sq ft of development potential. The total investment is estimated at Rs 2,600 crore to develop the entire project, which will have three towers. Piramal Realty said in a statement that the company has launched the second tower in this project. The 70-storeyed 'Central Tower' would have 150 units with starting price of Rs 6.64 crore. "Excellent connectivity, lifetime views, competitively priced residences with a premium address in a city such as Mumbai will continue to remain the unique selling point of Piramal Mahalaxmi. Together, the two towers will represent a new era of contemporary living," said Piramal Realty CEO Naaman Atallah. When contacted, a company official said: "We are expecting a total sales ...