Page 342 - Business Finance
Walmart earnings jump 80 per cent to USD 3.8 bn, US sales strong
Walmart reported a jump in first-quarter earnings Thursday on higher US store sales and eCommerce growth following heavy investment in new "omnichannel" retail ventures. The world's biggest retailer reported profits of USD 3.8 billion. That's an increase of 80 per cent from the year-ago period when results were dented by a one-time earnings hit following US tax reform. Shares rose in pre-market trading.
Stock markets overcome volatility, close in positive zone
Equity benchmark indices erased volatility of the morning session and gained in the last trading hours on Thursday.The S & P BSE Sensex opened at 37,179, jumped to a high of 37,519 and finally settled at 37,393. The Nifty 50 too witnessed a volatile session but closed 100 points up at 11,257.Except for pharma, all sectoral indices at the National Stock Exchange were in the green. Investors attributed the swings to wait-and-watch sentiment in the market and mixed quarterly corporate results ahead of the exit polls.Zee Entertainment was a prominent gainer which closed over 9 per cent up at Rs 351.70.Tata Chemicals gained more than 8 per cent after Tata Group on Wednesday transferred all its branded food businesses to Tata Global Beverages, which will be renamed as Tata Consumer Products.Bharat Petroleum Corporation gained 4.8 per cent, Bajaj Finance 4 per cent, Indian Oil Corporation and Ultra Cement 3.8 per cent each.But InterGlobe Aviation was down 8.8 per cent down after reports .
Bajaj Finance shares jump 4 pc after Q4 earnings
Shares of Bajaj Finance Thursday climbed four per cent after the company reported a 50 per cent jump in standalone net profit for the March 2019 quarter. The scrip gained 3.64 per cent to close at Rs 3,111.80 on the BSE. Intra-day, it rose 4.29 per cent to Rs 3,131.50. It was the top gainer among the 30 Sensex companies. On the National Stock Exchange (NSE), shares climbed 4 per cent to close at Rs 3,124 apiece. In terms of traded volume, 3.40 lakh shares were traded on the BSE and over 36 lakh on the NSE. Bajaj Finance Thursday reported a 50 per cent jump in standalone net profit to Rs 1,114 crore for March 2019 quarter. The company had registered a net profit of Rs 743 crore in the corresponding quarter a year ago. Its 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. The company's board has recommended a dividend of Rs 6 per equity share or 300 per cent of a face value of Rs 2. Gross ...
Reliance-BP makes 1st bid for oil block; Vedanta bids for 30, ONGC 20, OIL 16
Reliance Industries and its British partner BP plc have made their first bid for an oil and gas exploration acreage in over eight years by bidding for one of the 32 blocks up for auction in latest licensing round that saw mining major Vedanta putting in as many as 30 bids while state-owned ONGC vying for 20. Bidding for 14 blocks on offer in the Open Acreage Licensing Policy (OALP) round-II and another 18 oil and gas blocks and 5 coal-bed methane (CBM) blocks on offer in OALP-III closed on Wednesday. Official sources said Vedanta, which had walked away with 41 out of the 55 blocks offered in OALP-I last year, bid for 30 areas. Oil and Natural Gas Corp (ONGC) bid for 20 blocks while Oil India Ltd (OIL) bid for 16. Indian Oil Corp (IOC), GAIL (India) and SunPetro bid for two blocks each, they said. RIL-BP made an offer for one block in the Krishna Godavari basin. This is the first time that BP is bidding for an exploration acreage in the country. It had entered the country buying 30 per
Market ends with modest gains
Domestic stocks ended with modest gains, supported by firmness in index pivotals. Gains were boosted by index heavyweights Infosys, ICICI Bank and HDFC Bank.
Quick Wrap: Nifty Media Index gains 2.26%
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Hong Kong Market ends edge up
City stocks opened lower after more conciliatory messages from Washington on trade. The U.S. President Donald Trump signed on Wednesday an executive order forbidding U.S. companies from using telecommunications equipment made by foreign companies deemed national security threats. The order apparently targets Chinese information technology giant Huawei Technologies Co. But stocks displayed some resilience around the midmorning as investors moved to hunt bargains. In the afternoon, the market struggled for direction.
7th Edition of Concrete Show India Commences in Mumbai
/ -- An industry expo presenting over 150 top-of-the-line Indian and global construction and infrastructure companies Concrete Show India (CSI) 2019, the three-day (16th-18th May, 2019) trade show hosted by UBM India, commenced today at the Bombay Convention and Exhibition Centre, Mumbai. It is the only expo in the country exclusively dedicated to the Construction and Infrastructure sector covering key areas including roads and highways, housing, airports, ports, power, rail, dams & bridges. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg) (Logo: https://mma.prnewswire.com/media/884507/CSI_2019_Logo.jpg) (Photo: https://mma.prnewswire.com/media/888329/Concrete_Show_India_7th_edition.jpg) The expo was inaugurated by Chief Guest - Shri Nagendra Nath Sinha (IAS), Chairman, National Highway Authority of India along with key dignitaries - Dr. Keshav C Tayade, Head Quality Assurance, Jt General Manager, Maharashtra Metro Rail Corporation Ltd; Mr. S M Ramchandani, Retd, Jt ..
Pakistan's currency reaches all-time low against US dollar
Pakistan's currency has reached a new all-time low against the dollar after the government last week reached a preliminary agreement with the IMF for USD 6 billion bailout. The Pakistani rupee dropped to 147 rupees to the dollar on Thursday morning. The rupee was traded at 141 to the dollar earlier this week, prompting government officials to meet with currency dealers to discuss how to stabilize the currency. Last week, Pakistan in a preliminary agreement with the International Monetary Fund agreed to follow a market-determined exchange rate. Currently, Pakistan's central bank controls the currency exchange rates. Pakistan is currently facing significant economic challenges, with declining foreign exchange reserves, diminishing growth and increasing trade deficit.
Turnover in F&O segment jumps
Nifty May futures at premium
Bharat Forge achieves strategic milestone with Daimler AG
Bharat Forge exclusively supplies machined crankshafts for the 13L & 15L engine platforms to Detroit Diesel, USA. Additionally, Bharat Forge also shares the 13L platform with Daimler's Mannheim plant in Germany. These flagship engines of Daimler AG are considered to be among the most technology enabled high performance heavy duty engines in commercial vehicles.
China Market extends gains on policy easing hopes
The strength in the stock market after weak April activity data indicated that the expectations of economic data and policy support are more important than actual readings. China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the US rumbles on. Growth in industrial output slowed more-than-expected to 5.4% in April from a year earlier, pulling back from a surprisingly strong 4-1/2-year high of 8.5% in March. Retail sales were also worse-than-expected, with the headline number rising 7.2%; the slowest pace since May 2003.
JSW Energy reports consolidated net profit of Rs 3.87 crore in the March 2019 quarter
Sales rise 8.42% to Rs 1924.58 crore
Archidply Industries reports standalone net profit of Rs 0.59 crore in the March 2019 quarter
Sales rise 7.66% to Rs 86.91 crore
Saven Technologies standalone net profit declines 24.39% in the March 2019 quarter
Sales rise 38.81% to Rs 2.79 crore
Savani Financials reports standalone net profit of Rs 0.01 crore in the March 2019 quarter
Sales decline 25.00% to Rs 0.03 crore
Bajaj Finance standalone net profit rises 49.92% in the March 2019 quarter
Sales rise 42.83% to Rs 4886.54 crore
Tasty Bite Eatables standalone net profit rises 3.48% in the March 2019 quarter
Sales rise 15.13% to Rs 85.21 crore
Deepak Spinners reports standalone net profit of Rs 1.46 crore in the March 2019 quarter
Sales decline 0.84% to Rs 108.62 crore
Arvind Fashions consolidated net profit declines 9.21% in the March 2019 quarter
Sales rise 1.53% to Rs 1168.96 crore