Page 3286 - Business Finance
Nifty July futures above 11,000
Turnover on NSE's F&O segment surges
FPIs step-up buying
Net inflow of Rs 798.67 crore on 11 July 2018
With 55% market share, private players across General Insurance sector post higher growth rate, ICRA
The General Insurance sector in the country grew at a slower rate of 17 percent in FY2018 after a robust growth of 32 percent in FY2017.As per ICRA research, the Private sector growth continued at a faster pace (22 percent Y-o-Y during FY2018), compared to the PSU growth of 13 percent during FY2018. Owing to the sizeable difference in growth rates, the share of the private players in the overall market improved to 55 percent in FY2018 from 53 percent in FY2017.According to the research paper analyses, the performance of 17 General Insurance Companies collectively representing around 94 percent of the Industry-wide Gross Premium Written (IGPW) but excluding ECGC, AIC of India and specialised health insurers in FY2018."We believe that private players will continue to display strong growth in Motor, while Health sector business (retail business) will continue the strong run in FY2019. Crop insurance growth for the private players will continue but not as rapidly as FY2016/17 growth ...
Midvalley Entertainment reports standalone net loss of Rs 1.22 crore in the June 2018 quarter
Sales reported at Rs 0.20 crore
Reliance Industrial Infrastructure standalone net profit rises 4.35% in the June 2018 quarter
Sales decline 12.54% to Rs 21.20 crore
Karnataka Bank standalone net profit rises 21.96% in the June 2018 quarter
Total Operating Income rise 5.79% to Rs 1407.64 crore
Sensex, Nifty jump amid negative market breadth
Key barometers registered strong gains in a steady session of trade led by index heavyweights Reliance Industries, HDFC and HDFC Bank. The barometer index, the S&P BSE Sensex, gained 282.48 points or 0.78% to settle at 36,548.41. The Nifty 50 index gained 74.90 points or 0.68% to settle at 11,023.20. An overnight slump in crude oil prices and positive global stocks boosted sentiment on the domestic bourses. The Sensex settled at a record closing high while the Nifty closed near its all time high.
Japanese banks MUFG, Mizuho to stop Iranian transactions
TOKYO (Reuters) - Japanese banks are moving to stop handling all Iran-related transactions to meet a November deadline set by the United States, after President Donald Trump in May pulled out of a nuclear programme agreement with Tehran.
Sensex ends at record closing high; Nifty ends over 11,000 mark
The BSE Sensex settled at the highest ever closing level on Thursday at 36,548.41 points after touching an intra-day record high of 36,699.53 points.
Buoyant media sector supports European shares
MILAN (Reuters) - A buoyant media sector following a new bid for British pay-TV firm Sky drove European shares higher on Thursday, helping them to stabilise after heavy losses in the previous session when fears of an escalating trade war hit markets.
EU too soft on fiscal rules, risks from high-debt states - auditors
BRUSSELS (Reuters) - The European Commission has applied fiscal rules with excessive flexibility, making them ineffective in reducing debt in highly indebted states such as Italy, auditors said on Thursday, warning of risks of spillovers from negative market reactions.
Sensex rises for fifth session; Reliance Industries hits $100 billion in market cap
(Reuters) - Indian shares rose for a fifth straight session on Thursday, with the benchmark Sensex posting its highest ever close, led by market heavyweight Reliance Industries Ltd.
Merit-based GST rate rationalisation possible in next council meet: Goyal
The GST Council may look at rationalising tax rates on some items on the basis of merit after ensuring right balance with revenue mop up, Finance Minister Piyush Goyal said today. The council, in its next meeting on July 21, will also discuss ease of filing returns as well as ease of assessment, he added. GST Council has already reduced rates on 328 items, so you may possibly find some chance (of rate reduction) where there is a meritorious reason. It has to be in balance with revenue consideration, Goyal said. When asked whether the GST Council could consider lowering rates in its next meeting, Goyal said the council had been very responsive to industry demands, and whenever there were inverted duty cases or any case that merited attention, rates were reduced to ensure ease of doing business. Under the GST regime, there are four rates -- 5 per cent, 12 per cent, 18 per cent and 28 per cent. Rolled out on July 1, 2017, GST had subsumed over a dozen local levies and transformed India ..
Karnataka Bank Q1 net profit surges 22% to Rs 163 cr
Private sector lender Karnataka Bank today posted a 21.9 per cent rise in net profit to Rs 163.24 crore for the first quarter this fiscal. The bank had reported a net profit of Rs 133.85 crore in the April-June quarter of 2017-18. The total income of the bank increased to Rs 1,616.44 crore as against Rs 1,547.93 crore a year ago, it said in a regulatory filing. In terms of asset quality, gross non-performing assets (NPAs) or bad loans rose to 4.72 per cent of gross loans as on June 30, 2018 from 4.34 per cent in the year-ago period. As a result, provisions other than tax and contingencies increased to Rs 222.06 crore for the June quarter of 2018-19 from Rs 198.88 crore. However, net NPAs stood at 2.92 per cent, down from 3.20 per cent. RBI last month granted banks, the option to spread provisioning for their mark to market (MTM) losses on all investments held in Available for Sale (AFS) and Held to Maturity (HFT) for the quarter ending June 30, 2018 equally over up to four quarters, ..
Ashok Leyland, HPCL launch co-branded fuel card
Hinduja Group flagship, Ashok Leyland in association with Hindustan Petroleum Corporation Ltd, today launched eN-Dhan fuel card that would offer customised solutions to commercial vehicle owners. After formally unveiling the card at a function here Ashok Leyland, Managing Director, Vinod K Dasari said, with 70 per cent of expenditure going towards fuel, the co-branded card would offer customised solutions to customers that would help them save about Rs 50,000 on their expenses per annum. "About 1.5 to 3 per cent savings would be there for customers when they use this card. We (Ashok Leyland) are the first to offer this facility", he told reporters. Stating that the co-branded card would be offered to customers as a 'closed user group', HPCL, Executive Director, T R Sundararam said, the card can be used at 15,000 HPCL outlets present across the country. "We are launching this card as a closed user group. It can be used only at HPCL petrol stations and not at other retail .
Govt sets up task force on ways to reduce import
The government has set up a high-level task force under the chairmanship of Cabinet Secretary P K Sinha to identify various items and policy interventions to reduce dependence on import, an official said. The task force includes secretaries from departments of commerce, industrial policy and promotion, skill development, revenue, defence production, steel, petroleum, electronics and telecommunications. It would suggest ways to cut import of those items which can be manufactured or explored in the country, the official added. The move assumes significance as India is heavily dependent on imports of several items such as oil, electronic hardware, machinery, ingredients for pharmaceuticals, gold and chemicals. On an average, India's imports stand at around USD 450 billion per year. In 2017-18, the inbound shipments grew about 20 per cent to USD 460 billion. Oil imports during the last fiscal rose 25.47 per cent to USD 109.11 billion. Although increase in imports of intermediates and raw .
Sensex scales new high; Nifty tops 11k-mark
The BSE Sensex vaulted over 282 points to end at a record high of 36,548.41 today on robust buying in energy, oil and gas and banking stocks. Oil-to-telecom conglomerate Reliance Industries jumped 4.42 pr cent to hit its all-time closing high, re-entering the USD 100 billion market cap club. An appreciating rupee, sustained buying by domestic institutional investors (DIIs), fresh foreign capital inflows and encouraging start to the earnings season contributed to the uptrend, brokers said. The 30-share barometer, after opening on a strong footing, gathered momentum to touch an all-time intra-day high of 36,699.53. However, it shed some ground on profit-booking, before finally finishing at 36,548.41, up by 282.48 points, or 0.78 per cent -- surpassing its previous record closing of 36,283.25 hit on January 29. The gauge has now gained 973.86 points in five sessions. The broader NSE Nifty index also reclaimed the 11,000-mark, touching a high of 11,078.30 before ending at 11,023.20, up ..
CCL produces 11.4 MT till July 11 this fiscal
The Central Coalfields Limited (CCL) has registered a record 11.4 million tonnes of coal production recording a growth of 13 per cent till July 11 in the first quarter of 2018-19 financial year. "It has registered a growth of 13 per cent till July 11," CCL Chairman-cum-Managing Director Gopal Singh said at a press conference here. The coal dispatch also witnessed double digit growth of 11 per cent with a dispatch of 17.7 of million tonnes of coal in quarter one, he said in a press release. With a commitment to 'Power for all,' the company supplied 12 per cent more coal to thermal power plants in the first quarter in comparison to the same period last year. The coal production target of CCL for the current fiscal is 76.35 million tonnes and the company will be expanding its ongoing projects in Magadh, Amrapali, Karo and Ashoka to boost production. In the last financial year, capital expenditure of the company was Rs 899 crore against the target of Rs 650 crore, 38.30 per .
Retail Sales In India Growing At An Impressive Rate Of About 15%; Reveals ASSOCHAM-Resurgent Study
In 2017, about 100 million consumers purchased online and the number is expected to cross 120 million by 2020 with the rise of digital natives, better infrastructure in terms of logistics, broadband and Internet-ready devices to fuel the demand in e-Commerce.
Market rallies on firm global stocks
Domestic stocks logged strong gains in a steady session of trade led by index heavyweights Reliance Industries, HDFC and HDFC Bank. The barometer index, the S&P BSE Sensex, gained 282.48 points or 0.78% at 36,548.41, as per the provisional closing data. The Nifty 50 index gained 74.90 points or 0.68% at 11,023.20, as per the provisional closing data. An overnight slump in crude oil prices and positive global stocks boosted sentiment on the domestic bourses.