Page 3728 - Business Finance
India's Q4 GDP grows at 7.7%, touches 6.7% for entire 2017-18
India's GDP for the fourth quarter of 2017-18 grew at 7.7 per cent, while for the full financial year 2017-18 it touched 6.7 per cent, official data showed here on Thursday.
Air India sale gets no bid, exposes hurdles for Modi's divestment drive
NEW DELHI (Reuters) - India's offer to sell a stake in Air India failed to draw a single bid by the Thursday deadline, underlining the challenges it faces in fixing the debt-laden state carrier and meeting a broader target of stake sales in government-held firms.
Gold gains on weaker dollar, upside capped by fading Italy tensions
LONDON (Reuters) - Gold prices edged up on Thursday as a dollar rally came off the boil, though upside momentum in the precious metal, seen as a safe haven asset, was capped by an easing of political tensions in Italy.
Wall Street set to resume gains, rise 6 percent from here: Reuters poll
NEW YORK (Reuters) - Expectations for solid economic and earnings growth will help U.S. stocks find slightly firmer footing in the second half of the year, according to a Reuters poll of strategists who expect the market to gain about 6 percent between now and year-end.
Indian economy grows 7.7 percent in March quarter
NEW DELHI (Reuters) - The Indian economy grew 7.7 percent during the period from January to March, topping the pace of the previous quarter for India to retain its position as the fastest growing major economy.
India's infrastructure output grows 4.7 percent in April
NEW DELHI (Reuters) - India's annual infrastructure output grew 4.7 percent in April from a year ago, government data showed on Thursday.
GDP growth jumps to 7.7% in Q4
The Centre on Thursday reported Gross Domestic Product (GDP) growth of 7.7 percent in the fourth quarter of FY 2017-18 (at 2011-12 prices).As per data released by the Central Statistics Office (CSO), GDP growth in the fourth quarter was 7.7 percent, as against 5.6 percent, 6.3 percent and 7 percent respectively, in the first three quarters, backed by rapid growth in agriculture (4.5 percent), manufacturing (9.1 percent) and construction sectors (11.5 percent).As per the provisional estimates of national income, the growth rate of GDP at constant (2011-12) prices for the financial year 2017-18 was estimated at 6.7 percent, while, at the sectoral level, the growth rate of GVA at constant (2011-12) prices for agriculture and allied sectors, industry and services sectors for the year 2017-18 were estimated at 3.4 percent, 5.5 percent, and 7.9 percent respectively.The 'agriculture, forestry and fishing' sector showed a growth rate of 3.4 percent as against the previous year's growth rate ..
Indian economy expands 7.7 pc in Q4, 6.7 pc in FY18
Indian economy grew 7.7 per cent in January-March 2018, the biggest expansion in seven quarters, on account of robust performance in manufacturing, construction and service sectors as well as good farm output, government data showed today. However, the economic growth slows to 6.7 per cent in 2017-18 compared to 7.1 per cent in 2016-17. "GDP at 2011-12 prices in the fourth quarter of 2017-18 registered growth rate of 7.7 per cent as against 5.6 per cent, 6.3 per cent and 7 per cent, respectively, in the first three quarters of 2017-18. Rapid growth in agriculture (4.5 per cent), manufacturing (9.1 per cent) and construction (11.5 per cent) contributed to the overall growth," the Central Statistics Office (CSO) said in its national accounts data released today. The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17. The GDP growth was 6.1 per cent in January-March quarter in 2016-17.
Tata CLiQ celebrates second anniversary with mega CLiQ-CLiQ Sale
Tata CLiQ, Tata Group's multi-brand phygital e-commerce platform has further sweetened its second anniversary celebrations with the mega CLiQ CLiQ sale, offering whopping discounts of up to 70 percent across all the categories.The four day sale starts from June 1, 2018 to delight the customers with a compelling shopping opportunity to own their favourite products at unbelievable prices. The CLiQ CLiQ sale will be applicable across categories including electronics, smartphones, apparel, footwear, watches, handbags and accessories, jewellery, and luxury.With a clutter-breaking CLiQ CLiQ campaign, Tata CLiQ invites its customers to LooQ LooQ and CheQ CheQ the 'NEWest' and 'NOWest' brands at unbelievable prices. The CLiQ CLiQ sale will allow customers to avail unmissable offers:• iPhone 6, 32Gb at Rs.23899• Lloyd 50 inch full HD TV at Rs.29990 and up to 60% off on other TVs,• DSLRs from Canon, Nikon and Sony starting at Rs.21990!• Eye-popping offers on luxury brands include 50% off on ...
Core industries register 4.7% growth in April
The combined Index of Industrial Production (IIP) of eight core industries stood 4.7 percent higher in April this year, the Centre said on Thursday.As per the Ministry of Commerce and Industry, the index of the eight core industries stood at 124.2 in April this year, which was 4.7 percent higher as compared to the index of April last year, with cumulative growth during April to March, 2017-18 of 4.3 percent.Coal production increased by 16 percent year-on-year (YoY), with cumulative growth of 2.6 percent. Meanwhile, crude oil production declined by 0.8 percent YoY.Natural Gas production increased by 7.4 percent in April this year, while its cumulative index increased by 2.9 percent during April to March, 2017-18 over the corresponding period of previous year.In terms of refinery products, petroleum refinery production increased by 2.7 percent in April, 2018 over April, 2017, while its cumulative index increased by 4.6 percent during April to March, 2017-18 over the corresponding period
CredRight raises Rs.9 crore pre-Series A funding from YourNest, Accion
Accion Venture Lab, the world's leading seed-stage investor, YourNest, an early stage venture capital fund and few prominent angels have jointly invested Rs. 9 crore in the Hyderabad-based fintech startup CredRight.A data driven lending platform, CredRight provides credit to unserved and underserved micro, small, and medium enterprises (MSMEs).The company partners with chit funds, which are similar to Rotating Savings and Credit Association (ROSCAs) in the United States but use a reverse auction to distribute pooled funds - across India to acquire customers and use previously untapped chit data, along with other data points, to underwrite a loan for a customer."CredRight plans to further invest in technology, grow its team, and continue its expansion plans to reach even more unserved and underserved customers," said Neeraj Bansal, co-founder and CEO, CredRight.CredRight has partnered with chit funds companies that allows access to MSEs and their entire past credit history related to .
Singapore: PM Modi given grand welcome by Indian diaspora
Following a visit to the Innovation Exhibitions centre, Prime Minister Narendra Modi was given a grand welcome by the Indian diaspora as he proceeded to attend the community-cum-business event named Anushasanam in Singapore.Prime Minister utilised this platform to launch Bharat Interface for Money (Bhim) mobile application in line with promoting digitization in the country.There was a small presentation that explained United Payment Interface launched in the partnership of State Bank of India and National Payments Corporation of India.Further, another presentation was done to depict the upcoming new innovation centre in Singapore.On that note, prior to this event, Prime Minister Modi inspected the various innovative projects at the Marina Bay, as he held talks with the respective innovators.Further, a group of classical Bharatnatyam dancers displayed a performance as they started with arangetram.Prime Minister is further scheduled to address the audience at the event where he shall ...
No bids received for Air India stake sale: Govt
The govt today said no bids have been received for the strategic disinvestment of Air India. The deadline for submission of Expression of Interest ended today. "As informed by the Transaction Adviser, no response has been received for the Expression of Interest floated for the strategic disinvestment of Air India," the Civil Aviation Ministry said in a tweet. "Further course of action will be decided appropriately," it added. EY is the transaction advisor for the process.
India's April core industrial output rises 4.7%
The output of India's eight major industries accelerated by 4.7 per cent in April from a rise of 4.4 per cent in March, official data showed on Thursday.
India's Q4 GDP grows at 7.7%, for entire 2017-18 at 6.7%
India's GDP for the fourth quarter of 2017-18 grew at 7.7 per cent, official data showed here on Thursday.
Smartphone market to stay cool this year: forecast
International Data Corporation has forecast that global smartphone sales would cool this year before heating up with help from new 5G networks and India's vibrant market. An IDC Worldwide Mobile Phone Tracker expected smartphone sales to slip two-tenths of a per cent this year to total 1.462 billion in a second straight year of slight decline. But IDC yesterday predicted that the smartphone market would reignite next year, growing about 3 per cent annually to 1.654 billion in the year 2022. The "biggest driver" of the downturn last year was said by IDC to be the China market, which it expected to be down 7.1 per cent this year after shrinking 4.9 per cent last year. IDC forecast that the smartphone market in China would flatten out next year, while sales in India were expected to continue to boom on low-priced handsets sold by Chinese companies. "China remains the focal point for many given that it consumes roughly 30 per cent of the world's smartphones," IDC Worldwide Quarterly ...
Sebi slaps Rs 10 lakh fine on DLF for wrong disclosure of IPO fund utilisation
Markets regulator Sebi today imposed a penalty of Rs 10 lakh on realty major DLF for making "wrong disclosures" with regard to utilisation of funds raised through initial public offer. The order follows an investigation conducted by the regulator for the June-December, 2007 period to ascertain any possible violation of the regulations. Sebi said it found the company to have made "wrong disclosures" to stock exchanges -- BSE and NSE-- regarding utilisation of funds in respect of prepayment of loans pertaining to the September 2007 quarter. The realty giant in its filing for the September 2007 quarter to the exchanges had reported that it utilised Rs 3,143.56 crore towards prepayment of loans, the Securities and Exchange Board of India (Sebi) noted in its 18-page order. However, as per the filing for December quarter 2007, DLF had shown the utilisation of funds under the same head -- prepayment of loans -- as Rs 2,469.75 crore, which was decremental as compared to the previous quarter, .
FPIs turn net sellers
Net outflow of Rs 1081.96 crore on 30 May 2018
Idea Cellular completes sale of standalone tower business to ATC Telecom Infrastructure
Vodafone's sale of its standalone tower business to ATC has already been completed earlier for an enterprise value of Rs. 3850 crore. Post the completion of Vodafone India and Idea merger, ~6,300 co-located tenancies of the two operators on the combined standalone tower portfolio will collapse into single tenancies over a period of two years without the payment of exit penalties. Both Vodafone India and Idea as customers, and ATC as a vendor, have agreed to treat each other as long-term preferred partners, subject to existing arrangements.
OK Play India reports consolidated net loss of Rs 3.18 crore in the March 2018 quarter
Sales rise 71.19% to Rs 44.15 crore