Page 3447 - Business Finance
Quick resolution to bank NPAs problem unlikely: Rahul Bajaj
Indian banks are unlikely to see a quick resolution to their 'terrible state' of being saddled by a huge overhang of NPAs despite the new bankruptcy process in the country, according to Bajaj Auto Chairman Rahul Bajaj. The veteran industrialist also said the country is facing insufficient investments and the current share of gross fixed capital formation to GDP is not enough to support steady-state growth of 7.5 per cent to 8 per cent. Addressing shareholders of the company in its Annual Report for 2017-18, Bajaj cited the insufficient investments and current state of the banks as two "particularly important" reasons for the slowdown in India's GDP growth. The Indian economy on yearly basis grew at a four-year low of 6.7 per cent in 2017-18, down from 7.1 per cent in the previous fiscal. The previous low was recorded in 2013-14 at 6.4 per cent. Describing the present situation faced by many banks in India as a "terrible state", he said, "Saddled by a huge overhang of bad loans or ...
Board of Zuari Agro Chemicals approve fund raising up to Rs 500 crore
At meeting held on 25 June 2018
China: Market falls 1.1%
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Indrajit Power Pvt reports standalone net loss of Rs 4.29 crore in the March 2018 quarter
Sales rise 47.02% to Rs 91.87 crore
Tulsi Extrusions reports standalone net loss of Rs 5.70 crore in the March 2018 quarter
Sales decline 70.74% to Rs 3.52 crore
Niraj Cement Structurals reports standalone net profit of Rs 0.48 crore in the March 2018 quarter
Sales rise 2.55% to Rs 35.34 crore
Pochiraju Industries reports standalone net loss of Rs 2.64 crore in the March 2018 quarter
Reported sales nil
Cat Technologies reports standalone net loss of Rs 0.05 crore in the March 2018 quarter
Reported sales nil
Shamrock Industrial Co reports standalone net loss of Rs 0.07 crore in the March 2018 quarter
Reported sales nil
Dugar Housing Developments reports standalone net loss of Rs 0.03 crore in the March 2018 quarter
Reported sales nil
Linaks Microelectronics reports standalone net loss of Rs 0.17 crore in the March 2018 quarter
Sales rise 27.27% to Rs 0.42 crore
Surbhi Industries reports standalone net loss of Rs 1.19 crore in the March 2018 quarter
Sales rise 13.63% to Rs 6.67 crore
Sai Jeevadhara Finance reports standalone net loss of Rs 0.03 crore in the March 2018 quarter
Sales reported at Rs 0.01 crore
Trans Medicare reports standalone net loss of Rs 0.12 crore in the March 2018 quarter
Reported sales nil
Nirav Commercials reports standalone net profit of Rs 2.91 crore in the March 2018 quarter
Sales rise 17.42% to Rs 1.55 crore
Geetanjali Credit and Capital reports standalone net profit of Rs 0.01 crore in the March 2018 quarter
Sales decline 50.00% to Rs 0.03 crore
Tilaknagar Industries reports consolidated net loss of Rs 61.74 crore in the March 2018 quarter
Sales rise 72.04% to Rs 258.90 crore
Sumeet Industries reports standalone net loss of Rs 34.01 crore in the March 2018 quarter
Sales decline 9.40% to Rs 268.48 crore
SREI Infrastructure Finance standalone net profit rises 45.42% in the March 2018 quarter
Sales decline 31.77% to Rs 440.12 crore
Govt working to boost Air India's operational efficiencies: Goyal
The government is giving a new thrust to strengthen Air India's management practices and operational efficiencies while the disinvestment plan would depend on various circumstances, Finance Minister Piyush Goyal said today. The strategic disinvestment plan for debt-laden Air India did not take off after it failed to attract any bidder when the deadline for submitting preliminary bids ended on May 31. Against this backdrop, Goyal said there is a new thrust being given to further strengthen management practices and improve operational efficiencies of the airline. "In the next 18 months, you will see the visible change," the minister told reporters on the sidelines of a conference here. About the failed disinvestment proposal, a senior government official said the rise in oil prices has stressed out a lot of companies in India as well as internationally. "If you see the balance sheets of all airline companies worldwide, (they have) suddenly taken a turn to the worse in the last three to .