Page 3716 - Business Finance
Kamat Hotels (India) standalone net profit declines 31.20% in the March 2018 quarter
Sales rise 16.93% to Rs 49.11 crore
TMT (I) reports standalone net loss of Rs 0.05 crore in the March 2018 quarter
Sales rise 900.00% to Rs 0.30 crore
Indsil Hydro Power & Manganese standalone net profit rises 883.85% in the March 2018 quarter
Sales rise 25.30% to Rs 52.70 crore
Sathavahana Ispat reports standalone net loss of Rs 87.43 crore in the March 2018 quarter
Sales decline 83.46% to Rs 50.07 crore
Rajath Finance reports standalone net loss of Rs 0.28 crore in the March 2018 quarter
Sales decline 40.00% to Rs 0.21 crore
Asia gold demand tepid as prices stuck in narrow range
MUMBAI/BENGALURU (Reuters) - Gold demand in most Asian centres remained sluggish this week with prices stuck in a tight range, while an inauspicious period for buying the yellow metal dampened demand in major consumer India.
Global LNG prices climb to highest since February on limited supply
SINGAPORE (Reuters) - Asian spot liquefied natural gas (LNG) prices rose this week to their highest since February as buying interest from China remained firm and as supply is expected to be limited during maintenance in August.
TVS Motor logs 10% sales growth in May
Two and three wheeler maker TVS Motor Company Ltd on Friday said it closed last month with 10 per cent sales growth.
Sensex sheds 95 pts; banking, PSU stocks slip
Markets saw a price correction on the first session of the new June series derivatives today, with the Sensex losing over 95 points and the Nifty closing below the 10,700-mark. Weakness in banking stocks offset gains in auto despite robust GDP numbers for the January-March quarter amid sustained foreign fund outflows. Leads from other Asian markets too were not supportive on renewed global trade war worries. The 30-share Sensex closed lower by 95.12 points, or 0.27 per cent, at 35,227.26 after shuttling between 35,438.22 and 35,177.35 on alternate bouts of buying and selling. It had rallied 416.27 points yesterday on optimistic buying by participants ahead of GDP numbers. Also, the NSE Nifty shed 39.95 points, or 0.37 per cent, to finish at 10,696.20. During the session, it moved between 10,764.75 and 10,681.50. Markets started on a positive note after data showed that India's January-March 2018 GDP growth soared to a seven-quarter high of 7.7 per cent, spurred by robust performance .
Business conditions improve, but at a slower pace in May 2018: Nikkei India Manufacturing PMI
Nikkei India Manufacturing PMI fell from 51.6 in April 2018 to 51.2 in May 2018
Fortis board says to consider offers from four bidders
(Reuters) - The Fortis Healthcare said on Friday its board had decided to consider offers from four parties in a fresh round of bidding for the hospitals operator, following a fierce takeover battle involving five suitors.
Centre to incorporate electronics manufacturing specifics in segments ruled by imports in new National Electronics Policy: MeitY secy
"It is very important for us to also grow seriously in many other segments where imports are ruling the market, we have huge scope in India for - medical electronics, automotive electronics, power electronics, defence electronics and we are hoping to sit with industry to understand as to what will it take specifically to make it happen in India and that is going to be part of the new national policy on electronics, which we are coming out with, said Mr Ajay Prakash Sawhney, secretary, Ministry of Electronics and Information Technology (MeitY).
Toyota to consolidate electronics parts operations within Denso
TOKYO (Reuters) - Toyota Motor Corp reached an agreement with its main supplier Denso Corp to consolidate all core electronics component operations of both companies within Denso, Japan's largest automaker said on Friday.
Fortis shortlists 4 entities for stake sale
Fortis Healthcare today said it has shortlisted four entities -- the Munjal-Burman combine, Manipal-TPG consortium, Malaysia's IHH Healthcare Berhand and Radiant Life Care to bid for the sale of its business. In a regulatory filing, Fortis said it has received interest from various parties on May 31, as per the timeline specified in the fresh process for bidding. It said the company's board has decided to include the following four parties -- Hero Enterprise Investment Office and Burman Family Office (Dabur), IHH Healthcare Berhand, Radiant Life Care, Manipal-TPG consortium in the bidding process. Earlier this week, Fortis Healthcare initiated a fresh time-bound bidding process for its sale after terminating the offer made by the Munjal-Burman combine. As part of the process, the Fortis board decided to invite three entities that had put in binding offers -- Munjal-Burman combine, TPG-Manipal consortium, and Malaysia's IHH Healthcare Berhad -- to participate in the fresh bidding ...
Copper, nickel slide on sluggish demand, global cues
Prices of copper and nickel fell by up to Rs 5 per kg at the non-ferrous metal market today owing to slackened demand from consuming industries amid weak global cues. Traders said, besides fall in demand from consuming industries at domestic spot market, a weak trend overseas weighed on the copper and nickel prices. Globally, copper for three-month delivery rolled down by 0.2 per cent to USD 6,840.00 per metric tonne on the London Metal Exchange. In the national capital, copper mixed scrap and nickel plate (4x4) eased by Rs 2 and Rs 5 to Rs 436 and Rs 870-875 per kg, respectively. Following are today's metal rates (in Rs per kg): Zinc ingot Rs 140-146, nickel plate (4x4) Rs 870-875, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 436, chadri deshi Rs 295. Lead ingot Rs 141, lead imported Rs 148, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.
Sesame, cottonseed oils up on retailers' demand
Prices of sesame and cottonseed oils rose by Rs 100 per quintal at the wholesale oils and oilseeds market today on pick-up in demand from retailers. However, castor oil in the non-edible section, eased owing to reduced offtake by consuming industries. Traders said, increased demand from retailers against restricted supplies from producing belts mainly pushed up sesame and cottonseed oil prices. In the national capital, sesame mill delivery and cottonseed mill delivery (Haryana) oils were up by Rs 100 each to Rs 9,300 and Rs 7,200 per quintal, respectively. On the other hand, castor oil in the non-edible section, shed Rs 100 to Rs 7,200-7,300 per quintal. Following are today's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000. Edible oils: Groundnut Mill Delivery (Gujarat) Rs 8,400, Groundnut Solvent Refined (per tin) Rs 1,700-1,800, Mustard expeller (Dadri) Rs 7,650, Mustard Pakki Ghani
ITC Hotels opens ITC Kohenur in Hyderabad
: ITC Hotels today said it opened ITC Kohenur here taking its overall luxury hotel portfolio to 12. Located in the heart of Hyderabad's new business district, overlooking the picturesque Durgam Cheruvu Lake, the hotel endeavours to create 'Rare and Priceless' experiences through its super-premium offerings, a press release from ITC said. The hotel has 271 high technology enabled rooms, suites and service apartments, six culinary brands reflecting ITC's tradition of culinary excellence, state-of-the-art meeting and convention spaces, Kaya Kalp spa and well-being offerings, it said. "With the soft opening on June 1, the hotel is poised to offer unique and enriching indigenous experiences to its guests," it said. ITC Hotels is one of India's largest luxury hotel chains offering comprehensive hospitality solutions through more than 100 hotels in over 70 destinations in the country. ITC's hotel group operates under four distinct brands- 'ITC Hotel' at the luxury end, ...
Closure of Vedanta's copper operations in India marginally credit negative: Moody's
The permanent closure of Vedanta Resources Plc's copper operations in India is marginally credit negative as it will lower the company's scale and business diversity, Moody's Investors Service today said. The Tamil Nadu government on May 28 ordered the state pollution control board to seal and "permanently" close the Vedanta group's Sterlite copper plant in Tuticorin following violent protests over pollution concerns during which 13 people were killed in police firing. "The permanent closure of Vedanta's Indian copper operations is credit negative because it will reduce the company's scale and business diversity, adding pressure to its other business segments to maintain their strong performance and make up the total revenue and EBITDA decline," Moody's said in a statement. Further, it said, the cancellation of Vedanta's land rights towards the copper expansion is a key concern in view of the company's ability to restart copper smelting operations. It is yet unclear to what extent the
ONGC reports 36 percent jump in profit in Q4
The Oil and Natural Gas Corp has reported a 36 percent jump in profit in the fourth quarter because of higher crude prices and lower statutory levies.According to a compnay release, profit rose to Rs.5915 crore in the three months to March, while revenue from operations grew by ten percent to Rs.23,969 crore.The ONGC statement said that its revenues and profts had received a substantial boost due to global oil prices rising by about 60 percent in the last year, and acknowledged that this rise in oil prices have contributed to higher petrol and diesel prices in the country.The statement further said that the oil major's total expense for the quarter declined by six percent to Rs.19,463 crores, and added that a quarter drop in 'statutory levies' to Rs.5764 crore was primarily responsible for this.
Alibaba to invest over 100bn yuan on smart logistics
Chinese e-commerce giant Alibaba Group on Friday announced that it will invest over 100 billion yuan to build a smart logistics network, aimed at improving the company's efficiency and delivery reach to customers.