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Page 3731 - Business Finance

ONGC shares end over 2% higher after Q4 results

Shares of Oil and Natural Gas Corp (ONGC) today ended with over 2 per cent gains after the company reported its highest profit in 17 quarters. The stock settled at Rs 177.35, up 1.95 per cent on BSE. Intra-day, it jumped 3.50 per cent to Rs 180.05. On NSE, the stock went up by 2.24 per cent to close at Rs 177.90. In terms of equity volume, 6.87 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day. State-owned ONGC's net profit in three-months to March 31, 2018, jumped 37 per cent on back of higher oil prices. Net profit in the fourth quarter of 2017-18 at Rs 5,915.12 crore, or Rs 4.61 a share, was higher than Rs 4,340.18 crore net in the same period of the previous fiscal, the company said in a statement yesterday. The board of directors of ONGC recommended a final dividend of Rs 1.35 per share (27 per cent). This is in addition to the interim dividend of Rs 5.25 per share declared in two phases previously.

Updated On : 31 May 2018 | 5:35 PM IST

Strong economic expansion lifts India's April domestic passenger demand: IATA

Strong economic and network expansion lifted India's domestic passenger traffic in April, a global airline association said on Thursday.

Updated On : 31 May 2018 | 5:30 PM IST

PKL Auctions: Prashant becomes most expensive buy of Day 2

Raider Prashant Kumar Rai became the hot pick on Day 2 of the Pro Kabaddi League auctions as the 34-year-old was picked up by UP Yoddhas for a whopping Rs 79 lakh.

Updated On : 31 May 2018 | 5:30 PM IST

STT GDC India expands its operations by developing a new data centre in Bengaluru

STT Global Data Centres India Private Limited (STT GDC India), a subsidiary of ST Telemedia Global Data Centres (STT GDC) announced today its new Data Centre (Bengaluru DC3), in Whitefield, Bengaluru.This announcement marks the commencement of the company's multi megawatt capacity expansion plan spanning across major cities in the country (to be delivered over the next 16 to 20 months) further strengthening STT GDC India's leadership position in the India data center market. This facility is expected to be operational by the third quarter of 2019.With rising expectations from enterprises and cloud service providers for data centre facilities that are highly resilient, secure and able to support the growing market needs, Bengaluru DC3 has been designed to ensure that it meets the most stringent of customer requirements. Once fully operational Bengaluru DC3 will:-Offer scalability of more than 15 MW of IT power in a newly constructed 350,000 square foot data centre building.The entire ..

Updated On : 31 May 2018 | 5:25 PM IST

Idea Cellular completes sale of standalone tower asset to ATC Telecom

Idea Cellular on Thursday announced the completion of the sale of its pan-India standalone tower business, by divesting its entire stake in ICISL (100 per cent subsidiary of Idea), to ATC Telecom Infrastructure Private Limited.

Updated On : 31 May 2018 | 5:20 PM IST

Air India sale exposes hurdles for Modi's divestment drive

NEW DELHI (Reuters) - The Indian government's offer to sell stakes in Air India has failed to draw a single bid so far, underlining the challenge it faces in fixing the debt-laden state carrier, as well as meeting a broader target of stake sales in government-held firms.

Updated On : 31 May 2018 | 5:15 PM IST

Omaxe sells properties worth Rs 1,228 cr in FY18, up 30% from FY17

Realty firm Omaxe Ltd's sales booking rose by 30 per cent to Rs 1,228 crore last fiscal on higher volumes even as the company's average sales realisation dropped. According to an investors presentation, the company sold 4.98 million sq ft space last fiscal, up 56 per cent from 2016-17. In terms of value, sales booking increased to Rs 1,228 crore in 2017-18 from Rs 946 crore in the previous fiscal. Out of total sales, housing segment contributed Rs 918 crore while the commercial space accounted for Rs 310 crore. The average sales realisation fell by 17 per cent to Rs 2,464 per sq ft from Rs 2,956 a sq ft during the review period. Omaxe Ltd last week reported a consolidated net profit of Rs 18.98 crore for the quarter ended March, a rise of 33 per cent as compared to Rs 14.32 crore in the year-ago period. Its income from operations rose by 9 per cent to Rs 490.70 crore for the quarter ended March as compared to Rs 451.92 crore in the corresponding period of the previous year. On an ...

Updated On : 31 May 2018 | 5:15 PM IST

Indian biz travellers prefer safety over hotel rewards: Survey

Business travellers in the country give more preference to safety than their global counterparts, with just 21 per cent respondents of a survey choosing hotel reward points over personal safety. This makes Indians the least likely to prefer rewards over safety, as three in 10 business travellers globally are happy to sacrifice safety for hotel loyalty and incentives, according to the research commissioned by travel management firm Carlson Wagonlit Travel (CWT). American business travellers are the most likely to prefer hotel loyalty and incentives over safety (39 per cent), followed by the Europeans (34 per cent) and travellers from Asia Pacific (28 per cent), it added. "Clearly, travellers are very focused on their hotel loyalty points. They will go to great lengths to get their hands on those benefits," David Falter, president, RoomIt by CWT said commenting on the survey. Further, the survey found that 39 per cent Indians are most worried globally about their personal .

Updated On : 31 May 2018 | 5:10 PM IST

Global funds cut stocks to nine-month lows in turbulent May

LONDON (Reuters) - Global investors cut their equity holdings to a nine-month low in May after a turbulent month characterised by revived trade war fears, Italian political turmoil and a spike in U.S. bond yields.

Updated On : 31 May 2018 | 5:00 PM IST

India can become one of the largest jute exporters: Smriti Irani

Union Textiles Minister Smriti Irani on Thursday claimed that India has the potential to become one of the largest jute exporters in the diversified section, if the quality of the raw material can be improved.

Updated On : 31 May 2018 | 5:00 PM IST

Religare Enterprises reports net loss of Rs 64 cr in March qtr

Financial services firm Religare Enterprises today reported a 27 per cent jump in its standalone net loss at Rs 64.33 crore in the quarter to March 2017-18. It had registered a net loss of Rs 50.59 crore in the corresponding January-March period of 2016-17. Total income on standalone basis during the quarter under review stood at Rs 13.26 crore against Rs 1.82 crore in the same period a year ago. For the full fiscal (2017-18), its net loss came in at Rs 110.18 crore against a loss of Rs 159.24 crore in the preceding fiscal, the company said in a regulatory filing. Total income (standalone) during 2017-18 was Rs 71 crore, up from Rs 35.09 crore in FY 2016-17. On a consolidated basis, the company reported a net loss of Rs 1,192.50 crore during the fiscal ended March 2018, against Rs 174.27 crore in the previous year. Consolidated income during the year also fell to Rs 2,693.14 crore as against Rs 3,841.02 crore. The company said it made provisions of Rs 82.76 crore during the year ended

Updated On : 31 May 2018 | 4:55 PM IST