Page 366 - Business Finance
Gold rises by Rs 377 on robust demand
Gold prices Tuesday rose by Rs 377 to Rs 33,395 per 10 gram in the national capital due to rise in domestic demand, according to the All India Sarafa Association. Tracking gold, silver too gained Rs 300 to Rs 38,300 per kg on increased offtake by industrial units and coin makers. Traders said apart from uptick in local demand, further escalation of trade war between the US and China boosted gold's safe-haven appeal, thereby leading to upward movement in prices of yellow metal. In a retaliatory move, China on Monday said it would raise tariffs on US goods worth nearly USD 60 billion. Globally, spot gold was trading at USD 1,298 an ounce, while silver was at USD 14.83 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 377 each to Rs 33,395 and Rs 33,225 per 10 gram, respectively. However, sovereign gold stood steady at Rs 26,500 per eight gram. Meanwhile, silver ready surged by Rs 300 to Rs 38,300 per kg, while weekly-based ...
Board of Magadh Sugar & Energy recommends divided and bonus issue of shares
At meeting held on 14 May 2019
DCM update on scheme of arrangement
Scheme becomes effective from 13 May 2019
Westlife Development consolidated net profit rises 7.85% in the March 2019 quarter
Sales rise 12.05% to Rs 339.17 crore
SRF gains after strong Q4 result
SRF advanced 5.52% to Rs 2,601.10 at 15:21 IST on BSE after consolidated net profit rose 54.06% to Rs 190.89 crore on 27.98% increase in net sales to Rs 2034.81 crore in Q4 March 2019 over Q4 March 2018.
Indian enterprises going whole hog on Cloud adoption: AWS
India has just started to see a significant Cloud adoption by the enterprises and the Amazon Web Services (AWS), the Cloud arm of retail giant Amazon, is fast bringing in new services and capabilities to help both the existing customer base and new customers solve all sorts of fresh problems deliver enhanced experiences, a top company executive said here on Tuesday.
MRPL profit down 41 pc at Rs 319 crore in Q4 of FY19
ONGC subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) on Tuesday reported a net profit of Rs 319 crore in the fourth quarter of 2018-19 as against Rs 542 crore in the corresponding period of the previous fiscal, registering a decline of over 41 per cent.Gross refining margin (GRM) of the company came down to 5.01 dollars a barrel against 7.87 dollars a barrel during the corresponding period. GRM is the difference between the price of crude and end products like diesel and petrol.Total throughput of the refinery stood at 4.29 million tonnes during the fourth quarter of 2018-19 as against 4.31 million tonnes in Q4 of previous fiscal, MRPL said in a statement.At the same time, gross turnover of the company stood at Rs 17,744 crore with exports at Rs 6,955 crore as against Rs 18,746 crore with exports at Rs 5,128 crore.The net profit of the company declined to Rs 332 crore for the fiscal 2018-19 as against Rs 2,224 crore for the financial year 2017-18.The board of directors has
Westlife Development expands its brand extensions in FY 2019
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Jet Airways (India) Ltd leads losers in 'A' group
Sterlite Technologies Ltd, Relaxo Footwears Ltd, Reliance Communications Ltd and Edelweiss Financial Services Ltd are among the other losers in the BSE's 'A' group today, 14 May 2019.
Growth benefits must go to 7.3 billion people in developing countries: Prabhu
Commerce and Industry Minister Suresh Prabhu said on Tuesday that the World Trade Organisation (WTO) must address concerns of 7.3 billion people living in developing countries so that benefits of growth percolate to them.The multilateral trading system is a collective responsibility of all countries who have a stake in it, he said."It is the duty of countries to successfully address conflicting interests, motives and ideologies to preserve and strengthen this valuable institution," he said while addressing leaders at the concluding session of two-day WTO ministerial meeting of developing countries."The principles of non-discrimination, predictability, transparency, the tradition of decision-making by consensus and, most importantly, the commitment to development underlying the multilateral trading system are too valuable to lose," said Prabhu.In his address at the dinner on Monday, Prabhu said trade tensions show no signs of abating and protectionist tendencies are on the rise. This ..
Pritish Nandy Communications Ltd leads losers in 'B' group
Sambhaav Media Ltd, Shiva Mills Ltd, Beardsell Ltd and Salona Cotspin Ltd are among the other losers in the BSE's 'B' group today, 14 May 2019.
Just Dial gains after robust Q4 result
Just Dial advanced 2.13% to Rs 563.40 at 14:19 IST on BSE after net profit rose 60.55% to Rs 62.55 crore on 21.84% rise in total income to Rs 264.50 crore in Q4 March 2019 over Q4 March 2018.
Volumes soar at Solar Industries India Ltd counter
Solar Industries India Ltd recorded volume of 1.15 lakh shares by 14:18 IST on NSE, a 16 times surge over two-week average daily volume of 7167 shares
Castor seed futures fall by Rs 18 per quintal
Castor seed prices fell by Rs 18 to Rs 5,990 per quintal in futures trade Tuesday as traders trimmed positions in line with a weak trend at the physical markets. Marketmen said taking negative cues from the spot markets on persistent supplies from growing belts mainly exerted pressure on castor seed futures here. On the National Commodity and Derivatives Exchange, castor seed for July contracts drifted down by Rs 18, or 0.3 per cent, to Rs 5,990 per quintal, with an open interest of 38,800 lots. Similarly, the delivery for March shed by Rs 36, or 0.59 per cent, to Rs 6,062 per quintal in an open interest of 25 lots.
HMSI partners with IDFC FIRST Bank to offer financing solutions
Honda Motorcycle & Scooter India (HMSI) Tuesday said it has partnered with IDFC FIRST Bank to provide financing solutions across the country. The two partner have signed a memorandum of understanding (MoU) under which facilities like loans up to 100 per cent of vehicle cost, zero processing fee, down payment of Rs 999 and extended loan tenure of 48 months, among others will be offered to the two-wheeler maker's customers, HMSI said in a statement. Commenting on the development, HMSI Senior Vice President, Sales & Marketing Yadvinder Singh Guleria said with increased cost of ownership, post insurance premium hike and new brake regulations in two-wheelers, more and more customers are availing finance to own two-wheelers. "We believe that consumer shift towards finance will accelerate even more in coming year and our partnership with IDFC FIRST Bank Ltd as our new additional retail finance partner is truly a win-win situation for our valued customers," he added. IDFC FIRST Bank ..
Coriander futures rise 0.66 pc on spot demand
Coriander prices rose 0.66 per cent to Rs 7,285 per quintal in futures market Tuesday as participants built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions boosted coriander futures. On the National Commodity and Derivatives Exchange, coriander for May contracts edged higher by Rs 48, or 0.66 per cent, to Rs 7,285 per quintal with an open interest of 1,280 lots. Market analysts attributed the rise in coriander futures to a surge in demand in the physical market against tight stocks position. On similar lines, the delivery for June contracts was trading higher by Rs 45, or 0.61 per cent, to Rs 7,385 per quintal with an open interest of 28,880 lots.
Cottonseed oil cake futures drop by Rs 22 per quintal
Cottonseed oil cake prices fell by Rs 22 to Rs 2,737 per quintal in futures trade Tuesday as investors cut down their bets taking negative cues from the physical market. Marketmen attributed the slide in cottonseed oil cake futures prices to a weak trend in spot market due to soaring stocks on constant supplies against slackness in demand from soap, paint and lubricant industries. On the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the most-traded July contract fell by Rs 22, or 0.8 per cent, to Rs 2,737 per quintal with a business turnover of 10,290 lots. Cottonseed oil cake for delivery in August contracts dropped by Rs 16.5, or 0.6 per cent, to Rs 2,756 per quintal with an open interest of 3,150 lots.
Nickel futures fall 0.06 pc on low demand
Nickel prices drifted lower by 0.06 per cent to Rs 832.70 per kg in futures trading Tuesday as speculators trimmed their positions amid muted spot demand. On the Multi Commodity Exchange, nickel for delivery in May declined by 50 paise, or 0.06 per cent, to Rs 832.70 per kg in a business turnover of 13,423 lots. Analysts said apart from low demand from alloy-makers in spot markets, profit-booking by speculators weighed on nickel futures prices. On similar lines, the metal for delivery in June contracts was trading lower by Rs 1.19, or 0.22 per cent, to Rs 866.50 per kg in 2,349 lots.
Edelweiss Financial Q4 net profit falls 3.3 pc to Rs 232 cr; FY19 net up 15 pc
Edelweiss Financial Services Tuesday reported a decline of 3.3 per cent in its consolidated net profit to Rs 232 crore in the fourth quarter of the fiscal ended March 2019. The company had posted a net profit of Rs 240 crore during the corresponding January-March quarter of 2017-18. Its total revenue during the March quarter of 2018-19, however, went up by 14 per cent to Rs 2,942 crore as against Rs 2,586 crore in the same quarter of 2017-18, it said in a regulatory filing. For the full year 2018-19, the company's net profit grew 15 per cent to Rs 995 crore as against Rs 863 crore a year ago. Total revenue during the fiscal was up by 22 per cent to Rs 10,886 crore from Rs 8,920 crore in fiscal ended March 2018. "We have remained resilient in the tough market conditions due to the sheer strength of our diversified business model which helped us post steady profits in FY19 despite a flat balance sheet. We continue to focus on strengthening the balance sheet through raising equity as ...
Asian markets tumble after Wall St battering as China retaliates
Asian markets extended a global sell-off Tuesday following hefty losses on Wall Street that came in response to China's hike in tariffs on $60 billion of US imports, ramping up tensions in a trade war between the global economic titans. The move by Beijing was followed by a warning of further action such as dumping US Treasuries and came days after Washington more than doubled levies on USD 200 billion of Chinese goods and Donald Trump said he was looking at more than USD 300 billion more. The stand-off has sent shockwaves through trading floors, where most dealers had a little over a week ago been confident the two sides were close to a deal. World markets have rallied for most of the year on the back of optimism about an agreement. Hong Kong led losses as the market reopened after a long weekend. The Hang Seng Index sank 1.5 percent while Shanghai shed 0.7 percent and Tokyo ended down 0.6 percent, marking its seventh straight loss. Sydney and Singapore each dropped 0.9 percent, ...