Page 355 - Business Finance
Ultramarine & Pigments standalone net profit declines 11.64% in the March 2019 quarter
Sales rise 0.29% to Rs 72.98 crore
Maharashtra Scooters standalone net profit declines 50.00% in the March 2019 quarter
Sales rise 6.98% to Rs 3.37 crore
Pioneer Agro Extracts standalone net profit declines 76.86% in the March 2019 quarter
Reported sales nil
Amara Raja Batteries standalone net profit rises 8.69% in the March 2019 quarter
Sales decline 0.89% to Rs 1566.73 crore
Shah Construction Company reports standalone net loss of Rs 0.31 crore in the March 2019 quarter
Sales rise 14.71% to Rs 1.56 crore
Bombay Cycle & Motor Agency standalone net profit rises 294.44% in the March 2019 quarter
Sales rise 17.03% to Rs 2.13 crore
Electrosteel Castings standalone net profit declines 21.40% in the March 2019 quarter
Sales rise 20.19% to Rs 673.25 crore
Welspun Enterprises consolidated net profit rises 17.30% in the March 2019 quarter
Sales rise 78.90% to Rs 725.07 crore
Lupin reports consolidated net profit of Rs 289.56 crore in the March 2019 quarter
Sales rise 8.73% to Rs 4325.93 crore
Polyester film demand in India to grow 10pc in next 5 yrs: Report
The demand for polyester film, used in packaging, electronics and other industries, is expected to grow by 10 per cent in India in the next five years, according to a report. Global demand for polyester film, known as BOPET film, would grow at 5.6 per cent in the next five years driven by electrical and electronics sector, high-end display screens (OLED) and photovoltic cells, the research report by Wood Mackenzie Chemicals said. "Forecast growth in Asia is expected to be significantly higher, particularly in China and India, where we expect to see growth of 6.6 per cent and nearly 10 per cent respectively," Robert Gilfillan, Wood Mackenzie Chemicals Head of Films and Flexibles, said. BOPET (biaxially-oriented polyethylene terephthalate) is a polyester film made from stretched polyethylene terephthalate (PET) and is used for its high tensile strength, chemical and dimensional stability, transparency, reflectivity, gas and aroma barrier properties, and electrical insulation. The global
NSE penalises Jet, IL&FS, Adanis for breach of listing norms
The National Stock Exchange (NSE) on Wednesday imposed fines and issued notices to 250 companies for not adhering to the Listing Obligations and Disclosure Requirements (LODR).
GSP countries like India to benefit from US trade war with China: Report
America's year-long trade war with China is pushing US companies to source more from GSP countries such as India, Thailand, Cambodia, Indonesia and Turkey, a report said Tuesday, warning that cancelling GSP benefits to India would only help China. The Coalition for GSP, a group of American companies and trade associations, in a report said the latest official trade figures shows that the Generalised System of Preference or GSP saved American companies USD 105 million in March, an increase of USD 28 million (36 per cent) from March, 2018 and the second-highest level on record. In the first quarter of 2019, the GSP saved American companies USD 285 million. That is USD 63 million more than the first quarter of 2018 -- itself a record-shattering year. The GSP is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries like India. On March 4, President ...
NSE fines 250 companies for non-compliance with listing regulations
The National Stock Exchange (NSE) Wednesday said it has penalised 250 companies, including two IL&FS group firms and Jet Airways, for non-compliance with various listing regulations for the quarter ended March 31, 2019. The total penalty imposed on the non-compliant companies is little over Rs 8.84 crore, according to NSE data. The move is in accordance with markets regulator Sebi's circular that had put in place a standard operating procedure to check non-compliance with provisions of (Listing obligations Disclosure Requirement) Regulations, NSE said. Fines have been levied in the range of Rs 1,000 to Rs 4.5 lakh. Penalty of Rs 4.5 lakh has been levied on 31 companies that include Adani Ports and Special Economic Zone, Power Finance Corporation, Bharat Electronics Ltd, Hindustan Copper Ltd, Bharat Heavy Electrical Ltd, Oil India Ltd and Indian Oil Corporation among others. The firms that have been fined Rs 4.5 lakh have violated Regulation 17 of LODR Regulations, pertaining to ...
Gold loses sheen, falls Rs 135 on tepid demand
Gold prices Wednesday dropped by Rs 135 to Rs 33,260 per 10 gram in the national capital on lacklustre demand from jewellers, according to the All India Sarafa Association. Silver prices too fell by Rs 100 to Rs 38,200 per kg on reduced offtake by industrial units and coin makers. Meanwhile, a possibility of US-China trade talks revival boosted financial market sentiment globally, prompting investors to take position in equities rather than other safe haven investments like bullion, analysts said. However, bucking the global trend, Indian stocks fell on Wednesday. Globally, spot gold was trading marginally higher at USD 1,299.40 an ounce, while silver was up at USD 14.92 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 135 each to Rs 33,260 and Rs 33,090 per 10 gram, respectively. On Tuesday, the precious metal had gained Rs 377. Sovereign gold, however held steady at Rs 26,500 per eight gram. Meanwhile, silver ready declined .
SBI Composite Leading Indicator Signals Contraction In GVA For Q4FY19 Towards 6%
State Bank Of India (SBI) says that its Composite Leading Indicator (CLI) which has a one-quarter lead over non-agricultural GDP growth is signaling a contraction in GVA for Q4 FY19 towards 6%. Interestingly, food inflation and retail inflation in general have not picked-up despite increase in MSP. Though credit growth has picked-up after dipping in FY17, but it has not been broad based with credit offtake seen mostly in Government and high rated customers. However, the bank still believes that the current slowdown could be transitory, if proper policies are adopted in interregnum.
Mahindra Partners invests Rs 206.5 cr in Centre for Sight
Mahindra Partners, the private equity and corporate venture capital arm of Mahindra Group, Wednesday announced an investment of Rs 206.5 crore in leading ophthalmology player Centre for Sight. As part of the transaction, the promoters of the company have also put in additional Rs 20 crore, taking the total investment to Rs 226.5 crore. Besides, Matrix Partners India has fully exited its stake in Centre for Sight. "We want to be a part of its (Centre for Sight) evolution and growth into the dominant Indian eye care brand," Mahindra Partners Managing Partner Parag Shah told reporters here. The company also fits into Mahindra's larger healthcare strategy which is focused on delivery side with a bias towards single specialty, he added. "This new investment aligns with the demographic catered to by our first healthcare investment, Medwell Ventures, which operates a home healthcare chain," Shah said. Centre for Sight CMD Mahipal S Sachdev said the association with Mahindra Partners would ...
Mustard seed futures up on positive demand
Mustard seed prices were trading up 0.23 per cent to Rs 3,907 per quintal in futures trade Wednesday as speculators raised their bets tracking positive demand at the spot market. Marketmen attributed the rise in mustard seed futures to pick-up in demand from oil mills amid tight arrivals from producing belts at the spot market. On the National Commodity and Derivatives Exchange, mustard seed for June contracts rose by Rs 9, or 0.23 per cent, to Rs 3,907 per quintal with an open interest of 46,790 lots. Mustard seed for July contracts, too, remained up by Rs 6, or 0.15 per cent, to Rs 3,946 per quintal in 11,560 lots.
Trading firms can apply for feed-grade corn import by May 31: ComMin
The Commerce Ministry has extended the timeline till May 31 for state trading enterprises (STEs) to submit applications for the import of feed-grade maize or corn. The Directorate General of Foreign Trade (DGFT), under the ministry, in a notice said that applications were invited from STEs for importing feed-grade maize under the TRQ (tariff rate quota) scheme at 15 per cent customs duty during 2019-20 fiscal year. The imports were allowed only for poultry firms on an actual user basis. As STEs were not able to submit applications till April, they have sought an extension of the timeline. "The last date for filing applications for import of feed-grade maize by the STEs is extended till May 31 this year," it said. In April, the directorate permitted the import of feed grade maize at a concessional import duty of 15 per cent with a view to meeting shortage of poultry feed in the country. Import of up to 1 lakh tonne feed grade maize is allowed on actual user condition. This decision ...
Coriander futures rise 1.57 pc on spot demand
Coriander prices rose by 1.57 per cent to Rs 7,450 per quintal in futures market Wednesday as participants built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions weighed on coriander futures. On the National Commodity and Derivatives Exchange, coriander contracts for June edged higher by Rs 115, or 1.57 per cent, to Rs 7,450 per quintal with an open interest of 28,260 lots. Similarly, contracts for July delivery were trading higher by Rs 127, or 1.71 per cent, at Rs 7,560 per quintal with an open interest of 7,060 lots. Market analysts attributed the rise in coriander futures to upsurge in demand at the physical market against tight supply.
HOEC gains after Q4 outcome
Hindustan Oil Exploration Company rose 3.4% to Rs 127.60 at 14:48 IST on BSE after net profit surged 191.55% to Rs 47.96 crore on 193.17% rise in total income to Rs 75.08 crore in Q4 March 2019 over Q4 March 2018.