Page 3448 - Business Finance
Bombay Talkies reports standalone net profit of Rs 0.42 crore in the March 2018 quarter
Reported sales nil
Nothing to do with Agusta Westland helicopter scam: KRBL
As its stock price fell sharply by 20 per cent today, Basmati rice-exporting firm KRBL clarified that it has nothing to do with the Agusta Westland helicopter scam, and also not aware of the recent arrest of Gautam Khaitan who was associated with the company till 2013. "...we are totally unaware about his recent arrest by Enforcement Directorate (ED) as mentioned" in a media report, KRBL Ltd said in a regulatory filing. The company further said that it is "totally unaware about his internal workings" and the company is not in any way connected with Khaitan since 2013. Khaitan was an independent director from July 30, 2007 to April 18, 2013 and was associated with KRBL in his professional capacity, it added. "We would like to state KRBL Ltd has nothing to do with the Agusta Westland helicopter scam." The company said it would not like to comment on media reports and will inform the exchanges as and when any reportable event occurs, it said. Khaitan was arrested way back in 2013 by both
Alexander Stamps & Coin reports standalone net loss of Rs 0.12 crore in the March 2018 quarter
Sales decline 80.49% to Rs 0.48 crore
Vintron Informatics reports standalone net loss of Rs 3.82 crore in the March 2018 quarter
Sales rise 115.58% to Rs 8.30 crore
Indo Asia Finance reports standalone net loss of Rs 0.33 crore in the March 2018 quarter
Sales decline 66.67% to Rs 0.02 crore
Gokhale, Garg to participate in SDF conclave on infra funding
Foreign Secretary Vijay Gokhale and Economic Affairs Secretary Subhash Chandra Garg will participate in the two-day SAARC Development Fund (SDF) conclave, which will focus on infrastructure investments in the region. Niti Aayog CEO Amitabh Kant will deliver the keynote address at the conclave beginning July 2, an official statement said. Secretary (East), Ministry of External Affairs Preeti Saran will also present her views at the meet, SDF CEO Sunil Motiwal said in the statement. The conclave will focus on 'regional integration through project collaboration and investments'. Motiwal said the event aims towards strategic growth in south Asia region through project collaboration and regional integration. It aims to solicit cross-border project co-financing under the social, economic and infrastructure windows of SDF in eight SAARC member states. The thematic concepts to be discussed during the conclave for funding would be energy, transportation, ICT, trade and commerce, agriculture ..
Tata Motors shares plunge over 6%; m-cap drops by Rs 5,283 cr
Shares of Tata Motors slumped over 6 per cent today, wiping out Rs 5,283 crore from its market valuation amid concerns over auto tariff threat by the US. The stock dropped 5.94 per cent to settle at Rs 289.85 on BSE. During the day, it tanked 6.53 per cent to Rs 288. On NSE, shares of the company plunged 6.31 per cent to close at Rs 288.55. Led by the sharp fall in the stock, the company's market valuation tumbled Rs 5,283.2 crore to Rs 83,689.80 crore. The stock was the worst hit among blue chips on both key indices. In terms of equity volume, 13.75 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day. US President Donald Trump on Friday threatened to slap a 20 per cent duty on all cars imported from Europe unless the European Union removed its trade barriers and tariffs on dozens of American products which took effect. Meanwhile, Tata Motors-owned Jaguar Land Rover has lined up investment worth 13.5 billion pounds (around Rs 1.2
Japan Nikkei falls 0.8% on stronger yen, trade war fears
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Australia Market finishes 0.2% down
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China, EU to form group to modernize global trade rules
The vice president of the European Union's governing body says Europe and China will form a group aimed at updating global trade rules to address technology policy, subsidies and other emerging complaints in a bid to preserve support for international commerce. European Commission Vice President Jyrki Katainen said today that unilateral action by US President Donald Trump in disputes over steel, China's technology policy and other issues highlighted the need to modernize the World Trade Organization to reflect developments in the world economy. US officials have said the WTO, the Geneva-based arbiter of world trade rules, is bureaucratic and outdated and needs an overhaul. Katainen said he did not expect negotiations on updating trade rules to be easy but that they were necessary to save the environment for multilateral trade.
Harley-Davidson will not raise prices to cover tariff costs
(Reuters) - Harley-Davidson Inc said on Monday it would not raise retail or wholesale prices for its dealers to cover the costs of the retaliatory tariffs by the European Union on U.S. products.
Global stocks sink on trade fears, oil falls
LONDON (Reuters) - World stocks sank on Monday, hit by worries over a worsening trade dispute between the United States and other leading economies, while crude oil prices fell by over two percent as traders factored in an output rise agreed by major exporters.
"India's edible oil consumption to exceed 34 mn ton by 2030"
Growing population, economic growth and rising disposable income will drive India's vegetable oil consumption growth, which is expected to grow by three per cent annually to exceed 34 million tonnes by 2030, according to a report. "Increasing income, urbanisation, changing food habits and deeper penetration of processed foods will be key drivers of future consumption growth of edible oil in the country," RaboResearch report 'The Future of India's Edible Oil Industry: How Will India's Vegetable Oil Demand Shape Up by 2030'. The country's vegetable oil consumption was at 23 million tonne in 2017, it added. Because of current stagnant domestic vegetable oil supplies, import volumes will continue to fill the majority of the supply-and-demand gap over the next decade, it added. Palm oil, soy oil and sunflower oil are expected to penetrate regional markets further in the future, with the packaged edible oil segment leading the way for future growth of the industry, the report
PolicyBazaar raises more than $200 mn led by SoftBank Vision Fund
ETechAces Marketing & Consulting, which operates PolicyBazaar.com, today said it has raised over USD 200 million, led by SoftBank Vision Fund. The series F round also saw participation from existing investors, including InfoEdge (Naukri.com), a statement said. Yashish Dahiya, co-founder and Group CEO of EtechAces, said, "SoftBank's culture of backing disruptive businesses and industry leaders with long-term capital investment gels well with our own values and vision of creating a transparent and empowering financial products marketplace". "We hope to gain a lot from their global footprint and experience, he added. Founded in 2008, PolicyBazaar's investors include the likes of Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices. "We believe that the Indian insurance market continues to remain massively under-developed and PolicyBazaar, supported by SoftBank's capital and ecosystem, is ...
Gold pinned near six-month lows as dollar firms, trade risk supports
LONDON (Reuters) - Gold steadied off last week's six-month low on Monday as concerns over a global trade war ratcheted higher after a report said the United States plans to bar Chinese companies from investing in its technology firms.
India is a sweet spot where the rule of law prevails to attract investments
Lauding AIIB for its robust processes, Shri Goyal said that it is a matter of great pride that a concept that was floated in 2014 was able to mature in 6-7 months, and by 2015 we had a Multilateral Development Bank in place with India being the second largest stakeholder with over 8% stake. 'Shri Goyal said that AIIB has focused its investment in India on lending to rural infrastructure, energy and power, environmental protection, transportation and telecommunication, water supply and sanitation and urban development and logistics and it is a matter of great pride that India is the largest recipient of the $4.2 billion funds disbursed by it which constitutes 28% of its total investment so far. Attributing robust framework and easy to navigate policies being the key reasons for the investment flow into infrastructure in the country, the Union Finance Minister said that India is a sweet spot where the rule of law prevails to attract investments. Earlier participating in the Governors ..
European Markets Start On Tepid Note, Major Indices Down Around 1%
Stocks dropped in Europe with early moves witnessing substantial losses for the major indices. Commodity prices turned lower following a mixed action in Asia as worries over global trade flows hurt the sentiments. FTSE is down 1.16% as a new analysis has found that the UK's decision to exit the European Union has already slowed the nation's economic growth by a cumulative 2.1% as of the first quarter of 2018, compared to likely results had Brexit been rejected two years ago. The study also found that the referendum vote is now costing the British government £440 million (around $584 million) per week in lost tax revenue, challenging longtimeclaims by Brexit supporters that leaving the EU would improve government balance sheets. The study is from the London-based Center for European Reform.
India's digital leap to lead to social inclusion; data privacy key risk: Report
India's digital leap is expected to have substantial social impact, as it will lead to reduced income inequality and increased financial inclusion, but addressing data privacy will be critical, says a Morgan Stanley report. According to the global financial services major, India's digital leap will have substantial social impact across four key areas -- reducing income inequality, broadening and deepening financial inclusion, improving quality of life and enhancing agricultural productivity. But a significant risk stems from the Aadhaar data privacy debate. "There are two issues about privacy relating to Aadhaar. One is the possible compromise of the Aadhaar system, itself, and leakage of data. The second is the loss of data through the third-party users," Morgan Stanley said in a research note. While the first risk is somewhat mitigated by sophisticated encryption standards, the second risk is harder to control third parties collecting biometric data could be compromised, leading ..
India plans to participate in oil block auctions in UAE, says Dharmendra Pradhan
NEW DELHI (Reuters) - India is in talks with some UAE-based companies to jointly bid for oil blocks in UAE, India's oil minister said on Monday.
Will speak to Shiv Sena over Ratnagiri refinery: Pradhan
Petroleum Minister Dharmendra Pradhan said on Monday that he will personally speak to Uddhav Thackeray to allay his fears about the threat to farmers lands due to the proposed Ratnagiri refinery in Maharashtra.