Page 3746 - Business Finance
FPIs continue buying
Net inflow of Rs 507.18 crore on 29 May 2018
Graphic: The woes of India's state banking sector in four charts
MUMBAI (Reuters) - India's state-run banks posted a combined loss of 853.7 billion rupees ($12.65 billion) in the fiscal year ended this March, according to data compiled by Reuters, as their provisions for bad loans surged following stricter central bank rules.
Wall Street opens higher after selloff driven by Italy turmoil
(Reuters) - U.S. stocks opened higher on Wednesday, rebounding from a steep selloff in the previous session on worries about a political crisis in Italy.
Slow down to follow China's 6.6% growth in 2018: IMF
The IMF on Wednesday pegged the growth of the Chinese economy at a slightly slower pace of 6.6 per cent in 2018, followed by a gradual slow down over the next five years.
I-T department quizzes Matix Group Chairman over NuPower
The Income-Tax department has questioned Matix Group Chairman Nishant Kanodia in connection with NuPower Renewables, a leading daily reported on Wednesday.
60 paise to 1 paisa, petrol price cut sets social media on fire
From 'petrolled' to 'fuelonfire', social media users had a field day today with hash tags as petrol and diesel prices were cut by just one paisa, whereas the first announcement was a reduction of 60 paise. Petrol and diesel prices have been sailing northwards for the past two weeks and today was the first time that the prices were cut. However, the quantum of reduction of one paisa opened the floodgates criticism on the social media. Twitter was flooded with hash tags and messages about the price cut, making fun of the situation. '#petrolled', '#fuelonfire', '#petrolprice' and '#fuel' were among the hash tags trending on Twitter besides various memes. One user posed a picture of long gone 5 paise coin, saying "My savings today after filling 5 litres of petrol". Another user said, "I am going to invest it in mutual funds now." Politicians also took to the social media to take a dig at the price cut of one paisa. "Dear PM, You've cut the price of Petrol and Diesel today by 1 paisa. ONE .
Wall Street set to recover after selloff driven by Italy turmoil
(Reuters) - U.S. stocks were set to open higher on Wednesday, indicating a rebound from the steep selloff driven by a political crisis in Italy that had pushed the S&P 500 and the Dow Industrials to their worst day in a month.
Rupee in recovery mode ahead of GDP data, jumps 43 paise
The rupee today staged an impressive comeback after yesterday's rout and ended with a solid 43 paise gain against the American currency at 67.43 after traders unwound bullish dollar positions. Forex market sentiment swung back in favour of the domestic currency after the initial wave of volatility on the back of easing political uncertainty in Italy and expectations of robust GDP growth. Besides, massive unwinding of long dollar positions by exporters and corporates also lifted the overall trading mood. A sharp US dollar retracement slide, despite a goodish pickup in the US treasury bond yields ahead of key US growth and employment data, also supported the recovery momentum. The government will release gross domestic product (GDP) data for the March quarter and 2017-18 fiscal tomorrow. India's GDP had expanded by 7.2 per cent in the third quarter and regained the status of the world's fastest-growing major economy in the October-December quarter. India's economy is back on track at ...
AirAsia shares tumble as India probe threatens IPO plans
SINGAPORE/KUALA LUMPUR (Reuters) - AirAsia Group Bhd shares plunged on Wednesday after federal police in India filed a case against the airline accusing it of corruption - a probe that threatens to delay its India unit's IPO plans and international expansion.
U.S. first-quarter growth revised a touch lower
WASHINGTON (Reuters) - U.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but a robust labor market and income tax cuts are likely to boost activity this year.
Kerala to reduce fuel price by Rs.1
Kerala Chief Minister Pinarayi Vijayan on Wednesday announced that the state government will reduce the prices of petrol and diesel by Rs.1in the state.The move comes amid a continuous hike in petrol and diesel prices that have been steadily rising every day."The Kerala government has decided to reduce the prices of petrol and diesel by rupee one in the state. It will come into effect from June 1," Vijayan said at a press conference.Earlier in the day, the Indian Oil Corporation (IOCL), in a statement, said that the petrol prices in Delhi have gone down by one paisa after 16 straight days.On Wednesday, in Delhi, Kolkata, Mumbai and Chennai, petrol retailed at Rs 78.42, Rs 81.05, Rs 86.23 and Rs 81.42 per litre respectively while diesel sold at Rs 69.50, Rs 71.85, Rs 73.78 and Rs 73.17 per litre in Delhi, Kolkata, Mumbai and Chennai respectively.Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state ...
Singapore Airlines to launch world's longest commercial flights in October
Singapore Airlines (SIA) will launch the world's longest commercial flights from October 11 between Singapore and New Jersey in the United States of America.The 161-seat flight will cover 15,329 km non-stop, with travelling time lasting up to 18 hours and 45 minutes."We are pleased to be leading the way with these new non-stop flights using the latest-technology, ultralong-range Airbus A350-900ULR," reported Channel News Asia, quoting SIA CEO Goh Choon Phong as saying.According to the SIA, tickets will be made available for sale progressively across various booking channels starting from Thursday.In the beginning, the flight is planned to operate three times a week from Changi Airport in Singapore to Newark Liberty International Airport in New Jersey on Mondays, Thursdays and Saturdays.However, when an additional aircraft comes into service, daily operations will commence from October 18.The new service, when it commences, will be Southeast Asia's only non-stop connection to the North
Fuel prices in Ker to be reduced by Rs 1 per lire from June
Amid soaring fuel prices, the CPI(M)led LDF government in Kerala today decided to reduce petrol and diesel prices in the state by Rs one per litre from June one by slashing its sales tax. A decision in this regard was taken at the state cabinet, which met here. Briefing reporters this evening, Chief Minister Pinarayi Vijayan said the government decided to bring down the fuel price to give some relief to the people, who were reeling due to the daily hike in fuel prices. The new price will come into effect from this Friday, he said. Reduction in price would mean a loss of Rs 509 crore per year to the state exchequer, the chief minister said. The decision to reduce fuel prices was taken despite the state facing severe fianancial difficulties, Vijayan said. The Centre must take a cue from the state and bring down the the fuel prices as it was causing severe hardship to the common man, he said. Even as the International crude oil prices are coming down, fuel prices in the ...
The woes of India's state banking sector in four charts
MUMBAI (Reuters) - India's state-run banks posted a combined loss of 853.7 billion rupees ($12.65 billion) in the fiscal year ended this March, according to data compiled by Reuters, as their provisions for bad loans surged following stricter central bank rules.
Board of Royale Manor Hotels & Industries approves change in directorate
At meeting held on 30 May 2018
Apollo Hospitals Q4 net dips 43 pc to Rs 36 cr
Apollo Hospitals today reported 42.6 per cent decline in its consolidated profit after tax at Rs 35.7 crore for the fourth quarter ended March 2018. The healthcare major had posted a net profit of Rs 62.2 crore during the same period of the previous fiscal. Revenue during the period, however, grew by 14 per cent to Rs 2,111 crore as compared with Rs 1,857.2 crore in the January-March period of 2016-17, Apollo Hospitals said in a statement. For the year ended March 31, 2018, the company posted a profit after tax of Rs 117.4 crore, down 45.64 per cent from Rs 216 crore in 2016-17. Revenue for the year rose by 14 per cent to Rs 8,243.5 crore during as compared with Rs 7,255.7 crore in 2016-17. "We strengthened our position as a responsible healthcare leader with the addition of capacity, augmentation of clinical offerings, wider adoption of new technology even as we witnessed deeper acceptance of new formats by patients," Apollo Hospitals Chairman Prathap C Reddy said. Along with this, ..
HCL Infosystems shares drop nearly 5 pc after Q4 results
Shares of HCL Infosystems today fell by nearly 5 per cent after the company reported widening of consolidated net loss to Rs 241 crore in the quarter ended March 2018. The stock dropped 4.63 per cent to settle at Rs 43.25 on BSE. During the day, it plunged 4.96 per cent to Rs 43.10. On NSE, shares of the company declined 4.72 per cent to close at Rs 43.35. In terms of equity volume, 3.93 lakh shares of the company were traded on BSE and over 16 lakh shares changed hands on NSE during the day. The company had posted a net loss of Rs 124.11 crore in the same period a year ago. The total income of HCL Infosystems increased by over 50 per cent to Rs 1,108.9 crore in the last quarter of 2017-18 compared to Rs 738.5 crore it posted in the corresponding quarter of the previous fiscal.
Board of Marathwada Refractories approves change in company secretary
With effect from 30 May 2018
Board of Marathwada Refractories approves change in directorate
With effect from 30 May 2018
BJP corporates' favourite, gets nine times donations than five parties combined: Report
The ruling Bharatiya Janata Party (BJP) received donations nine times more than the five national parties combined in 2016-17, an analysis of the parties' declared incomes has revealed.