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Page 354 - Business Finance

Videocon case: Kochhars questioned by ED for 3rd day

Former ICICI Bank CEO and Managing Director Chanda Kochhar and her husband Deepak Kochhar on Wednesday deposed before the Enforcement Directorate for the third consecutive day for questioning in connection with the Rs 1,875-crore Videocon loan case.

Updated On : 15 May 2019 | 5:11 PM IST

Union Bank of India shares tumble over 10% after Q4 results

Shares of Union Bank of India Wednesday tumbled over 10 per cent after the company's net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19. The scrip dropped 10.03 per cent to close at Rs 71.30 on the BSE. During the day, it tanked 10.72 per cent to Rs 70.75. At the NSE, shares plunged 10.27 per cent to close at Rs 71.15. In terms of volume, 26.32 lakh shares of the company were traded on the BSE during the day, while over three crore shares were traded on the NSE. The bank Tuesday reported a net loss of 3,370 crore in the quarter ended March 2019 as compared with a net loss of Rs 2,583 crore in the corresponding quarter year ago. For fiscal 2018-19, the bank reported a net loss of Rs 2,948 crore as against Rs 5,247 crore in 2017-18. The bank's gross NPA improved to 14.98 per cent from 15.73 per cent, while net NPAs stood at 6.85 per cent compared to 8.42 per cent.

Updated On : 15 May 2019 | 5:01 PM IST

RIL, SBI, Jubilant Foodworks May 2019 futures most active

Turnover in F&O segment rises

Updated On : 15 May 2019 | 4:55 PM IST

Quick Wrap: Nifty Media Index falls 3.74%

Updated On : 15 May 2019 | 4:55 PM IST

Board of Aditya Birla Fashion & Retail approves fund raising via NCDs up to Rs 1250 cr

Updated On : 15 May 2019 | 4:55 PM IST

Tata Chem's consumer biz to be merged with Tata Global Beverages

Tata Chemicals Ltd Wednesday said it will demerge its consumer product business and merge it with Tata Global Beverages Ltd. Consumer product business of Tata Chemicals comprises manufacturing of edible common salt, spices and protein food. Each shareholder of Tata Chemicals Ltd will get 1.14 new equity shares of Tata Global Beverages Ltd for every one equity share they held in the company. "The proposed transaction will create a focused consumer products company with a combined turnover and EBITDA of Rs 9,099 crore and Rs 1,154 crore respectively," the company said in a regulatory filing. EBITDA is Earnings Before Interest, Tax, Depreciation and Amortisation.

Updated On : 15 May 2019 | 4:46 PM IST

Jet Airways shares continue to fall; drop over 5 pc as top execs de-board airline

Shares of Jet Airways continued to fall for the third straight session Wednesday, dropping over 5 per cent, after four senior executives, including chief executive Vinay Dube and his deputy Amit Agarwal, quit the ailing airline. The scrip declined 4.18 per cent to close at Rs 123.70 on the BSE. During the day, it tumbled 6.85 per cent to Rs 120.25 -- its 52-week low. On the NSE, shares tanked 5.31 per cent to close at Rs 122.05. In terms of traded volume, 18.18 lakh shares were traded on the BSE and over one crore shares changed hands on the NSE during the day. Shares of Jet Airways had on Tuesday plunged over 7 per cent and over 8 per cent Monday. In top level exodus at grounded Jet Airways, four senior executives have quit the ailing airline. Jet Airways stopped flying from April 17 after it ran out of cash. "We wish to inform that Vinay Dube, Chief Executive Officer (CEO), has resigned from services of the company with immediate effect due to personal reasons," Jet Airways said in

Updated On : 15 May 2019 | 4:36 PM IST

EIL signs pact for 1.5 mt refinery in Mongolia

State-owned Engineers India Ltd (EIL) Wednesday said it has signed an agreement to provide project management consultancy for a new 1.5 million tonne refinery being set up in Mongolia. The pact was signed with Mongol Refinery State Owned LLC, the company said in a statement here. The contract was signed in the presence of D Sumyaabazar, Minister of Mining and Heavy Industry of Mongolia. India had extended a USD 1 billion (about Rs 7,000 crore) line of credit to Mongolia during the visit of Prime Minister Narendra Modi in 2015. The Mongolian government is in the process to set up 1.5 million tonne per annum greenfield crude oil refinery in Sainshand province, under the line of credit extended by India. EIL had carried out a Detailed Feasibility Study for the project and was subsequently pre-qualified and shortlisted for providing project management consultancy services to Mongol Refinery for the project.

Updated On : 15 May 2019 | 4:36 PM IST

HDFC ties up with IMGC for mortgage guarantee-backed home loan

HDFC Wednesday said it has partnered with India Mortgage Guarantee Corporation (IMGC) for a mortgage guarantee-backed home loan. Mortgage guarantee is a financial product which compensates lending institutions for losses that may arise if a home owner defaults on a mortgage loan. The risk of the home loan gets transferred from the bank/FIs to the mortgage guarantee company. With this partnership, HDFC will be able to further penetrate home loan market and access an enlarged customer base, it said in a release. It will help the company offer more loan to a home loan customer on an enhanced eligibility as also it helps customers to avail loans beyond their retirement period. HDFC said the finer details of the product are being worked out and will be known to market soon. "Mortgage-guarantee is already a popular product in international market and this partnership will help diversify our offerings to a wider segment of customers. "This will also help us to support the government's ...

Updated On : 15 May 2019 | 4:36 PM IST