Page 357 - Business Finance
India's leading gaming company receives NVIDIA Certification
CIRCLE gaming, India's leading home-grown gaming peripherals manufacturer and cafe operator, has received an NVIDIA certification. The Mumbai headquartered business has seen impressive growth since its inception in 2008.Sanjeev Kumar, the company's founder and managing director, started the company after a chance visit to a gaming cafe in China. Inspired by the enthusiasm of gamers across age groups, he saw an opportunity to offer high-quality gaming products like PC cabinets, keyboards, mice and power supplies at honest prices to an Indian audience looking for value.The firm forayed into the cafe business in 2016 and met with immediate success through a hybrid model of fully-owned and franchise venues. The NVIDIA certification is a testament to CIRCLE Gaming's passion and business acumen."Ever since we launched our first products in 2016, Circle Gaming has been nothing short of obsessed with creating a stellar experience for gamers in India. Today, our cafe business enables us to ...
Zuari Agro Chemicals gets revision in credit ratings from ICRA
Term Loans - Rating revised to [ICRA]BB (Negative) from [ICRA]BBB+ (Negative)
IIFL Holdings reports 30 pc jump in Q4 profit at Rs 373 crore
Diversified financial services group IIFL Holdings on Wednesday reported 30 per cent jump year-on-year profit after tax at Rs 373 crore during January to March 2018-19.For the entire financial year, the profit after tax was Rs 1,253 crore, marking an increase of 23 per cent in the year-on period.The consolidated income was Rs 1,276 crore for the quarter, up 32 per cent, and Rs 4,305 crore for the year, up 16 per cent year-on-year.While loan assets under management in the NBFC (non-banking financial company) business increased 29 per cent to Rs 34,904 crore, wealth assets moved up 28 per cent to Rs 1.69 lakh crore."In FY19, we have strengthened our position in all our core businesses," said IIFL Holdings Chairman Nirmal Jain. "This year, with reorganisation of the group, three businesses namely finance, wealth and securities will get listed independently."Jain said the finance business has grown strongly with improved margins despite sector headwinds, leveraging the company's strong ...
Jet Airways shares continue to fall for 3rd day; tank nearly 7 pc
Shares of Jet Airways continued to fall for the third straight session Wednesday, dropping nearly 7 per cent, after four senior executives, including chief executive Vinay Dube and his deputy Amit Agarwal, quit the ailing airline. After a weak opening, the scrip further tumbled 6.85 per cent to Rs 120.25 -- its 52-week low -- on the BSE. On the NSE, shares slumped 6.90 per cent to Rs 120. In top level exodus at grounded Jet Airways, four senior executives have quit the ailing airline. Amid lenders scrambling to find a suitor, the cash-starved carrier on Tuesday announced the exit of three executives -- Dube, Agarwal and Company Secretary Kuldeep Sharma -- while a source said the carrier's Chief People Officer Rahul Taneja has also put in his papers. Shares of Jet Airways had on Tuesday plunged over 7 per cent and had plummeted over 8 per cent Monday. Jet Airways stopped flying from April 17 after it ran out of cash.
ED arrests 3 in connection with ponzi scam
Three people, including two women, have been arrested by the ED in connection with an alleged multi-crore ponzi and investment fraud scheme that duped many investors in Telangana, the agency said Wednesday. It said Nowhera Shaikh, Molly Thomas and Biju Thomas were placed under arrest under the provision of the Prevention of Money Laundering Act (PMLA) on Tuesday in the case related to the Heera group of companies. They have been sent to 7-day Enforcement Directorate custody by a special court in Hyderabad, it said. The three were already in jail in a police case and the ED sought the court permission to take them in its custody. The case pertains to the fraudulent money circulation scheme perpetrated by the Heera group in Hyderabad and the ED filed a criminal case of money laundering in the instance based on a Telangana Police FIR and few other complaints. "Heera group is accused of fraudulently collecting investments from lakhs of innocent victims on the promise of providing very ...
Benchmarks trim gains; cement shares slide
The market trimmed gains in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was up 187.50 points or 0.50% at 37,506.03. The Nifty 50 index was up 40.05 points or 0.36% at 11,262.10.
Shiva Texyarn Ltd leads gainers in 'B' group
Shiva Mills Ltd, TTK Healthcare Ltd, Bhagyanagar Properties Ltd and SPML Infra Ltd are among the other gainers in the BSE's 'B' group today, 15 May 2019.
TTK Prestige Ltd leads gainers in 'A' group
SpiceJet Ltd, Heritage Foods Ltd, SRF Ltd and Jaiprakash Associates Ltd are among the other gainers in the BSE's 'A' group today, 15 May 2019.
Greenlam Industries acquires Decolan SA
Through its Singapore based subsidiary
Nestle India sizzles after good Q1 result
Nestle India rose 1.81% to Rs 10,399.55 at 11:08 IST on BSE after net profit rose 9.26% to Rs 463.28 crore on 9.33% rise in total income to Rs 3076.14 crore in Q1 March 2019 over Q1 March 2018.
Market holds near day's high; IT shares advance
Key equity indices held firm near day's high in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was up 199.48 points or 0.53% at 37,518.01. The Nifty 50 index was up 44.85 points or 0.40% at 11,266.90.
Tata Steel will continue to explore various business options in Europe: T V Narendran
Tata Steel has not given up on its plans of merging its business in Europe, a top company official said while terming the European Commission's feedback on the proposed joint venture with Thyssenkrupp as a "speed breaker". The company's aim is to make European business stronger for which it will continue to explore various business options including merger, Tata Steel Managing Director T V Narendran told PTI over phone. "This was something we were working on for last few years but European Commission based on the market feedback decided that it can not recommend JV...So (its) fine. I look (at) it like a speed breaker. These things happen," Narendran said on the collapse of Tata Steel's proposed joint venture (JV) with German conglomerate Thyssenkrupp. On May 10, Tata Steel and the German conglomerate decided to call off their proposed steel JV, expecting the deal to be rejected by the European Commission (EC) over "continuing concerns". Tata Steel and ThyssenKrupp had signed ...
Liventus Technology Services, India Announces Rebranding to PQube
/ -- New Brand Reflects the company's vision to help businesses improve processes, reduce costs, and scale/grow exponentially. - Supreeth Bhat, MD, PQube Liventus Technology Services Pvt. Ltd., a full-service Technology Services company with business consultants, programmers, marketing professionals, designers, and managers - all located in one firm with in-depth knowledge of both business and technology that is essential to its client's success announces that beginning today, the company will operate under the new brand name PQube Business Solutions. The new name for the firm reflects a realignment of the company's brand with its long-term vision and strategy for delivering transformative innovation services to the world's largest enterprises. The company comprises of a dedicated team who are full time developers, designers, marketing professionals, network managers, and business consultants. They are responsible for creating and managing dozens of E-commerce sites that generate ...
R Gandhi appointed as Additional Director on Yes Bank board
Former Reserve Bank of India Deputy Governor Rama Subramaniam Gandhi has been appointed as Additional Director on the board of Yes Bank.The appointment from May 14 is for a period of two years, the private lender said in a filing to stock exchanges late on Tuesday."This will significantly strengthen Yes Bank's board composition and the bank will immensely benefit from R Gandhi's experience and wisdom at the Yes Bank," it said.Gandhi was RBI Deputy Governor from April 2014 to April 2017. He was in charge of portfolios like banking operations and development, non-banking supervision and risk monitoring.Yes Bank had posted its first-ever quarterly loss of Rs 1,507 crore in the March quarter of fiscal 2018-19. Rating agencies ICRA and India Ratings have both downgraded the long-term ratings of the bank.
Volumes soar at Carborundum Universal Ltd counter
Carborundum Universal Ltd clocked volume of 6.75 lakh shares by 10:49 IST on BSE, a 233.38 times surge over two-week average daily volume of 2891 shares
Sensex, Nifty hit fresh intraday high
Key benchmark indices extended early gains and hit fresh intraday high in morning trade. At 10:40 IST, the barometer index, the S&P BSE Sensex, was up 185.68 points or 0.50% at 37,504.21. The Nifty 50 index was up 43.90 points or 0.39% at 11,265.95.
US-China trade war could make iPhones 3% more costly
The ongoing trade-war between the US and China has caused Apple's iPhone production costs to rise as much as 3 per cent because of the new retaliatory tariffs imposed by Beijing.
Stock markets open in the green, Nifty above 11,260
Equity benchmark indices opened higher on Wednesday tracking cues from Asian peers.At 10:15 am, the BSE S & P Sensex was up 185 points at 37,503 while the Nifty 50 gained 45 points to 11,267.At the National Stock Exchange, most sectoral indices were in the green during early hours. However, FMCG, media and PSU Bank were in the negative territory.Among the gainers were Bharat Petroleum Corporation, Indian Oil, Mahindra & Mahindra and HCL Tech.But Jet Airways slipped to Rs 123.55 per share, down over 4 per cent, after four top executives resigned a day earlier.The departure of Chief Executive Officer Vinay Dube, Chief Financial Officer Amit Agarwal, Company Secretary and Compliance Officer Kuldeep Sharma and Chief People Officer Rahul Taneja cast further doubts over the possible revival of the grounded airline.The others which lost included Zee Entertainment, Yes Bank, power utility major NTPC, Indiabulls Housing Finance and Tata Motors.Shares in Asia were led by strong gains .
Sensex, Nifty start on a positive note amid firm global cues
Domestic equity benchmarks BSE Sensex and NSE Nifty started on a positive note Wednesday tracking firm cues from global markets after US President Donald Trump hinted at the possibility of a trade deal with China in the future. After surging over 200 points in early session, the 30-share index was trading 98.07 points, or 0.26 per cent, higher at 37,416.60. The broader NSE Nifty was also trading 21.65 points, or 0.19 per cent, up at 11,243.70. In the previous session on Tuesday, the BSE bourse settled at 37,318.53, gaining 227.71 points or 0.61 per cent; and the Nifty ended at 11,222.05, 73.85 points or 0.66 per cent higher. Top gainers in the Sensex pack include Yes Bank, Tata Motors, Sun Pharma, Coal India, NTPC, Hero MotoCorp, Bajaj Auto, HUL, Bharti Airtel, Asian Paints, ONGC and HDFC, shedding up to 3.04 per cent. On the other hand, HCL Tech, Tata Steel, M&M, PowerGrid, Vedanta, RIL and TCS were the major gainers, rising up to 1.79 per cent. According to traders, investors ...
Rupee gains 23 paise to 70.21 vs USD in early trade
The rupee appreciated by 23 paise to 70.21 against the US dollar in opening trade Wednesday, driven by easing crude prices, higher opening in domestic equities and on US-China trade talk hopes. Forex dealers said, investors sentiments were buoyed after US President Donald Trump on Tuesday hoped that the world's top two economies would be able reach an agreement. The rupee opened strong at 70.32 at the interbank forex market then gained further ground and touched 70.21 amid a positive opening in domestic equities, displaying gains of 23 paise over its last close. The rupee Tuesday recovered 7 paise to close at 70.44 to the US dollar. "I think it's going to turn out extremely well, we're in a very strong position," Trump said. The President also described his relationship with President Xi Jinping of China as "extraordinary". When asked about the talks with China having "collapsed". He rejected that characterisation. "We have a very good dialogue... it'll always continue. We had a deal .