Page 337 - Business Finance
Land, labour reforms to push economic growth: N K Singh
Expressing concern over muted private investments, 15th Finance Commission chairman N K Singh Friday said in order to push economic growth, the new government should take on the challenge of introducing reforms in areas including land and labour. He also noted that fiscal rectitude is an important intergradient in sustaining long term economic growth and is the core of long term macro economic stability. Macro economic stability is one of the things that will guide India's high growth trajectory, he said at an event organised by Assocham here. On the reforms front, Singh said "one single thing that we could not reform was factors of production -- labour, land and capital. We were unable to achieve success on reforming factors of production." Labour laws remain extremely complicated and there is need to bring reform by revisiting some of the issues like long term contracts and dispute resolution, he said. Besides, there is a need to visit the area of cost, procedure and processes of ...
Asian markets mixed after US rally, pound down on Brexit woes
Asian markets were mixed Friday as another rally on Wall Street and data indicating a strong US economy were offset by the increasingly tense trade and technology stand-off between China and the United States. The Brexit saga also moved back into view, with the pound at three-month lows on renewed concerns Britain will leave the EU with no deal as Prime Minister Theresa May tries to push her divorce deal through again. And oil prices sank as trade worries overshadowed tensions in the Middle East where the US and Iran are growing increasingly hostile. New York's three main indexes rose for a third successive day on the back of better-than-expected housing construction data and a dip in US jobless claims, while solid earnings from Walmart and tech firms Cisco Systems and Nvidia reinforced optimism. The figures boosted sentiment after almost two weeks of volatility sparked by Donald Trump's threat, and implementation, of higher tariffs on Chinese imports. The move threw a spanner in the
Co-location case: NSE to appeal against Sebi order
NSE will appeal against a Sebi order in the co-location issue in which it has been penalised up to Rs 1,000 crore and barred from approaching market for the next six months at the Securities Applleate Tribunal (SAT).
Tata Elxsi Ltd spurts 1.86%, up for third straight session
Tata Elxsi Ltd is quoting at Rs 867.2, up 1.86% on the day as on 12:54 IST on the NSE. The stock is down 24.73% in last one year as compared to a 7.1% gain in NIFTY and a 17.85% gain in the Nifty IT index.
Jubilant Foodworks Ltd sees good gains
Jubilant Foodworks Ltd is quoting at Rs 1263.1, up 1.48% on the day as on 12:54 IST on the NSE. The stock is up 1.13% in last one year as compared to a 7.1% spurt in NIFTY and a 3.46% spurt in the Nifty FMCG index.
Bajaj Finance Ltd soars 5.59%, rises for third straight session
Bajaj Finance Ltd is quoting at Rs 3284.05, up 5.59% on the day as on 12:54 IST on the NSE. The stock is up 52.77% in last one year as compared to a 7.1% gain in NIFTY and a 16.11% gain in the Nifty Financial Services index.
Peppa Pig and her Brother George Finally Arrive in India
/ -- ~ Entertainment One charts an immersive experience and a host of surprises for their little fans in India ~ Kids and adults at the airport were in for a great surprise when adorable little Peppa Pig and her brother George arrived at the International Airport in Mumbai. Bags in hand, trolleys on the roll, and their friendly attitude on their sleeve - the characters were seen being greeted not only by their little fans but adults too. (Photo: https://mma.prnewswire.com/media/888878/Entertainment_One_Peppa_Pig.jpg) There has been a groundswell of affection for Peppa Pig since the animated TV series first launched in India in June 2016 on Voot Kids before making its debut on Nick Jr India in January 2017. It is now amongst the most popular shows on these platforms in India. Entertainment One (eOne) has unveiled details of its expansion in India with the launch of new categories, which are set to deepen the brand's retail penetration in the market. In association with Viacom18 ...
Bajaj Holdings & Investment Ltd spurts 3.24%, up for fifth straight session
Bajaj Holdings & Investment Ltd is quoting at Rs 3270, up 3.24% on the day as on 12:49 IST on the NSE. The stock is up 18.38% in last one year as compared to a 7.06% jump in NIFTY and a 16.04% jump in the Nifty Financial Services.
JK Tyre sales cross Rs 10,000 crore in FY 19
JK Tyre and lndustries said its sales during 2018-19 grew by 24 per cent at Rs 10,370 crore while operating profit was up 35 per cent at Rs 1,196 crore.Profit before tax for the year was Rs 270 crore on a consolidated basis. January to March quarter sales at Rs 2,706 crore also grew by 18 per cent over the corresponding period."FY19 was indeed a landmark year for the company. JK Tyre sales crossed the Rs 10,000 crore-mark while achieving a robust growth of 24 per cent over the previous year, surpassing the industry growth," said Chairman and Managing Director Raghupati Singhania."Despite Q4 profitability being impacted due to high raw material prices, the operating margins for the year as a whole increased by 35 per cent," he said in a statement late on Thursday after stock market closing hour.JK Tyre volumes grew by 20 per cent despite a slow down in the automotive sector in the second half of the year. The company could enhance its market presence across categories, led by the high .
iPhone installed base grows just 2% in Q1 2019
Apple iPhone installed base in the US has seen a downward trend for quite some time now and its estimated base saw a dismal growth in the first calendar quarter of 2019, new data Consumer Intelligence Research Partners (CIRP) has said.
Tata Consultancy Services fixes record date for final dividend
Record date is 06 June 2019
LeadSquared Raises USD 3 Million in Series-A Funding to Focus on Global Expansion
/ -- Bangalore-based sales execution, automation and predictive analytics platform LeadSquared, has secured USD 3 Million in Series-A funding from Stakeboat Capital. Jyoti Bansal, an existing investor in the company, and the founder of AppDynamics and Harness.io, has participated in this round again. LeadSquared plans to utilize the funding for expansion of its operations and customer acquisition globally. Commenting on the investment, Nilesh Patel, CEO of LeadSquared, said, "The funding comes right in time to propel our global expansion plans to action. We have lately been seeing an outpour in interest from US, South East Asian and Middle Eastern markets, and we plan to invest more in the regions, so the timing couldn't have been better." Chandrasekar Kandasamy, Managing Partner of Stakeboat Capital said, "We are excited to be part of LeadSquared's journey to excel as a sales execution platform. They have had exceptional success in Indian market and are well poised to succeed in ...
Shiva Texyarn Ltd leads gainers in 'B' group
Paisalo Digital Ltd, Patspin India Ltd, RattanIndia Infrastructure Ltd and Kitex Garments Ltd are among the other gainers in the BSE's 'B' group today, 17 May 2019.
Nifty crosses 11,300 mark; pharma shares decline
The market firmed up further and hit fresh intraday high in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 317.61 points or 0.85% at 37,711.09. The Nifty 50 index was up 93.10 points or 0.83% at 11,350.20. The Nifty was trading above 11,300 mark.
JK Tyre scrip drops 5.5 pc post Q4 results
Shares of JK Tyre & Industries Limited Friday dropped 5.5 per cent after the company reported a 78.81 per cent decline in consolidated net profit for the quarter ended March 2019. The scrip tumbled 5.24 per cent to hit its one-year low of Rs 75 on the BSE. On the NSE, shares declined 5.54 per cent to Rs 74.90 -- their 52-week low. The company's earnings came in post market hours Thursday. JK Tyre & Industries Thursday reported a 78.81 per cent decline in consolidated net profit at Rs 33.66 crore for the quarter ended March 2019 due to high raw material costs and expenses. The company had posted a consolidated net profit of Rs 158.87 crore in the year-ago period, JK Tyre said in a regulatory filing. Consolidated revenue from operations for the quarter under review stood at Rs 2,705.89 crore as against Rs 2,283.97 crore in the same period of 2017-18. The company said the cost of raw materials consumed was higher at Rs 1,436.82 crore as compared to Rs 1,420.08 crore. Total ...
ED questions Kochhars for 5th consecutive day
The Enforcement Directorate (ED) questioned former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar for a fifth consecutive day on Friday in connection with the Rs 1,875-crore Videocon loan case.
Amazon invests in British food courier Deliveroo
US online titan Amazon has taken a stake in Deliveroo, the British food delivery company said on Friday. Amazon is the single largest investor in a $575-million (514-million-euro) financing round, Deliveroo said in a statement. Other participants include existing Deliveroo investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks. "This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders," said Deliveroo founder and CEO Will Shu. "Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation. "This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate." The latest funding round takes the total amount that Deliveroo ...
Bajaj Finance shares continue to gain; jump nearly 6%
Shares of Bajaj Finance continued to gain for the second day Friday, rising nearly six per cent to hit 52-week high, after the company reported 50 per cent jump in net profit for March 2019 quarter. The scrip jumped 5.62 per cent to Rs 3,286.90 on BSE. On NSE, shares climbed 5.72 per cent to Rs 3,288 - its one-year-high. The scrip was the top gainer among the frontline companies on both key indices during the morning trade. Shares of Bajaj Finance Thursday climbed four per cent. Bajaj Finance Thursday reported 50 per cent jump in standalone net profit to Rs 1,114 crore for March 2019 quarter. The company registered a profit of Rs 743 crore in the corresponding quarter a year ago. Total income during the quarter rose to Rs 4,887.76 crore from Rs 3,424.99 crore in the year-ago period, the company said in a regulatory filing.
Cashback incentives to push Google Pay in India
To push its payments platform Google Pay in India, the search engine plans to offer cashback incentives on Android apps.
Kohinoor concludes the third edition of Consumer Electronics Show 2019
Fast-growing electronics retail chain Kohinoor, concluded the third edition of India's largest consumer electronic festival - Kohinoor Consumer Electronics Show 2019. With participation from over 50 Indian and International brands, the 2019 edition of the show attracted over 80,000 shoppers across 10 days."The Kohinoor Consumer Electronics Show has been growing with each passing edition. This year, we have seen a 25 per cent increase in participation as compared to last year's edition. We believe it is the brands promise that connects the most with customers and vice versa. This year, products were curated keeping in mind consumer demands and interests", said Vishal Mewani, Director, Kohinoor Tele Video."In short, we had thoughtful products for our consumers. Over 20 extremely innovative products were launched during the show. We will continue to stick to our brand promise of Selling Joyfully and look forward to yet another edition of the Kohinoor Consumer Electronics Show next year",