Page 338 - Business Finance
Venkys (India) Ltd leads gainers in 'A' group
Phillips Carbon Black Ltd, Just Dial Ltd, Reliance Nippon Life Asset Management Ltd and Bajaj Finance Ltd are among the other gainers in the BSE's 'A' group today, 17 May 2019.
China's Luckin raises $561 mln as it hopes to topple Starbucks
Chinese coffee chain Luckin, battling to dethrone Starbucks in the Asian giant, has raised $561 million ahead of its Wall Street listing, an IPO consulting firm said Thursday. The Chinese company, which will debut on the Nasdaq Friday, set its share price at $17, at the high end of the range it announced in May. It sold 33 million American depository receipts (ADRs) after initially marketing 30 million, said Renaissance Capital, which specializes in initial public offerings. The listing values the firm at more than $3.9 billion, according to Bloomberg. ADRs allow foreign companies to list in America without being subject to strict rules that apply to US-based companies. Luckin plans to use the funds to expand its network and lure new customers. Since it was founded in 2017, the chain has built 2,370 stores in China as of March 31, focusing on offering customers quick grab-and-go service at its small stores or fast delivery to their homes and offices. It uses a variety of coupons like .
India International Hospitality Expo 2019 to attract 25,000 visitors
After an astounding success of its maiden edition in 2018, India International Hospitality Expo (IHE) is all set to host its second edition in 2019. The 4-day one of kind hospitality event will be held from 7-10 August 2019 at India Expo Centre and Mart, Greater Noida Expressway.With unparalleled patronage from industry leaders and government institutions in 2018, this year, IHE has expanded its reach targeting 650 exhibitors, showcasing the best from the global hospitality industry. IHE 2019 promises to be the bigger, better, grander and most comprehensive sourcing hub for hospitality, retail, F and B, food processing, baking, housekeeping, architects and design enthusiasts.The four-day long event will witness the biggest exposition spread over 45,000 square metres of expo space, conferences, gastronomic demonstrations and competition areas for both hospitality professionals as well as hospitality students. This makes IHE 19 the biggest hospitality exposition in South Asia till ...
Neuland Labs slumps after poor Q4 result
Neuland Laboratories lost 5.58% to Rs 677.05 at 11:06 IST on BSE after net profit fell 16.4% to Rs 6.73 crore on 8.4% rise in total income to Rs 174 crore in Q4 March 2019 over Q4 March 2018.
Motilal Oswal Mutual Fund Announces change in fund manager
With effect from 17 May 2019
Sensex, Nifty trade in a range; metal shares decline
Key benchmarks were stuck in a narrow band near day's high in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 215.08 points or 0.58% at 37,608.56. The Nifty 50 index was up 55.35 points or 0.49% at 11,312.45. The Nifty was trading above 11,300 mark.
JK Tyre sales cross Rs 14,000 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 crores 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
Ujjivan Small Finance Bank appoints Nitin Chugh as MD, CEO from Dec 1
Ujjivan Small Finance Bank, a subsidiary of the listed entity Ujjivan Financial Services, Friday announced the appointment of Nitin Chugh as its MD and CEO for a period of three years with effect from December 1, 2019. The Reserve Bank of India (RBI) has approved Chugh's appointment, Ujjivan Financial Services said in a BSE filing. "This appointment comes at the end of a succession planning process undertaken by the bank as the present tenure of Samit Ghosh as the MD and CEO of the bank will conclude on November 30, 2019 (the date of his attaining the age of 70 years)," the company said. Ujjivan Financial Services said the bank's board had proactively initiated the whole exercise of identifying the successor to Samit Ghosh well in advance to enable a smooth transition for his incoming successor. "Chugh will join the bank by August 2019 as president and will work closely with Samit Ghosh, existing MD and CEO, to ensure a smooth transition. Chugh will take charge of the position of MD ..
Volumes spurt at Dr Lal Pathlabs Ltd counter
Dr Lal Pathlabs Ltd registered volume of 1.78 lakh shares by 10:49 IST on BSE, a 137.89 fold spurt over two-week average daily volume of 1289 shares
Market holds firm near day's high
Key equity indices were trading near day's high in morning trade. At 10:35 IST, the barometer index, the S&P BSE Sensex, was up 224.91 points or 0.60% at 37,618.39. The Nifty 50 index was up 57.55 points or 0.51% at 11,314.65.
Sensex opens 100 points higher, banks gain
The benchmark Sensex opened over 100 points higher on Friday led by gains in the finance and banking stocks.
PayPal declines to come to Pakistan: Official
PayPal will not come to Pakistan despite the governments efforts to convince the American company, which operates a worldwide online payment system that supports online money transfers, to introduce its services in the country, said a senior official.
KDDL gets reaffirmation in credit ratings from ICRA
Fund based - Cash Credit and Term Loans - [ICRA] BBB+ (Stable) Non-fund based - Bank Guarantee, Letter of Credit and Buyer's Credit - [ICRA] A2 Fixed Deposits - [ICRA] MA- (Stable)
Markets open higher led by rally in select heavyweight stocks
Equity benchmark indices opened higher on Friday led by a rally in heavyweight stocks like Reliance Industries, HDFC and ITC.However, investors remained cautious ahead of the exit polls on May 19.At 10:15 am, the BSE S & P Sensex was up 187 points at 37,581 while the Nifty 50 gained 46 points at 11,304. Sectoral indices at the National Stock Exchange were mixed.Among the early gainers was Bajaj Finance which was up nearly 4 points to Rs 3,231.70. Zee Entertainment, Hero MotorCorp, Yes Bank and Bajaj Auto gained between 1.8 and 2.6 per cent.But Hindalco slumped 3.5 per cent after reporting poor corporate results while Tata Motors was down 2.8 per cent. The other losers were Bharat Petroleum Corporation, Tata Steel and Ultra Cement.Meanwhile, Asian equities were mixed. While Japan's Nikkei bounced 1.5 per cent, Shanghai stocks slipped amid the fallout from US President Donald Trump's move to block China's Huawei Technologies from buying vital American technology..
Blue Dart drops after weak Q4 result
Blue Dart Express lost 4.94% to Rs 2,788.40 at 10:05 IST on BSE after net profit dropped 62.32% to Rs 12.86 crore on 8.58% rise in total income to Rs 783.98 crore in Q4 March 2019 over Q4 March 2018.
Hatsun Agro Product Ltd Strengthens its Portfolio With the Launch of New Dairy Products
/ -- - Plans to strengthen retail presence in Maharashtra Hatsun Agro Product Ltd, India's leading private sector dairy company, has strengthened its dairy product portfolio with new launches heading into summer 2019. The new range in the sunrise segment includes Hatsun Yoghurt Shake and Hatsun Cheese Spread with a string of other new products under research & development to suit the Indian taste palette. The Yoghurt Shake is available in Mango, Strawberry and Blueberry flavours. Hatsun Cheese spread is a delectable offering launched at an affordable price point to encourage and ensure usage of Cheese among all sections of the consumers. The cheese spread comes in an innovative 50 gram packaging that is priced at Rs. 20, a first in the segment. The yoghurt products from Hatsun contain micro nutrients and good bacteria that help in good gut health, better digestion and better immunity. With no artificial flavours, no artificial colours and no preservatives, Hatsun Yoghurt Shake ...
Hindalco Industries Ltd Slides 2.21%
Hindalco Industries Ltd has lost 11.22% over last one month compared to 11.01% fall in S&P BSE Metal index and 4.27% drop in the SENSEX
Bajaj Finserv rises after robust Q4 outcome
Bajaj Finserv rose 0.38% to Rs 7,655.55 at 09:20 IST on BSE after consolidated net profit rose 31.66% to Rs 838.74 crore on 43.5% rise in total income to Rs 12995.47 crore in Q4 March 2019 over Q4 March 2018.
Dish TV India Ltd Spikes 1.91%
Dish TV India Ltd has lost 27.11% over last one month compared to 1.46% fall in S&P BSE Tech index and 4.55% drop in the SENSEX
lnfibeam Avenues and Alrowad Information Technology Solution form strategic alliance
ALROWAD is the leading business information technology, systems integrator and consultancy company in the United Arab Emirates and GCC region, specialized in providing innovative, cutting-edge and industry specific solutions that boosts profitability, efficiency, effectiveness and efficacy for both private and public sectors. Its services include systems integration, online and smart solutions, application development, business consultancy, managed services, business process reengineering, quality assurance, research and development, security solutions and business analytics.