Page 3748 - Business Finance

Canara HSBC OBC Life Insurance net jumps 51 pc at Rs 168 cr in FY18

Private sector Canara HSBC Oriental Bank of Commerce Life Insurance today posted a rise of 51 per cent in its net profit at Rs 168 crore in 2017-18. Company's individual new business premium (weighted premium income) has grown by 34 per cent to Rs 818 crore in 2017-18 from Rs 613 crore in 2016-17, it said in a statement. The overall industry recorded a growth rate of 19 per cent in the same period, it added. The gross written premium has increased by 21 per cent to Rs 2,781 crore during the year from Rs 2,295 crore in preceding fiscal. Canara HSBC Oriental Bank of Commerce Life Insurance said its 13th month persistency stands at 77.9 per cent and the overall claim settlement ratio is 97.18 per cent. Assets under management (AUM) stands at nearly Rs 12,690 crore as on March 31, 2018. "The growth this year mainly comes from the non-metros as we penetrated further into the tier-II and tier-III markets. This achievement demonstrates the strength of the bancassurance model in efficiently ..

Bank strike: Services hit, impact to continue tomorrow

Banking operations in the country were hit today as 10 lakh employees, primarily from PSU banks, went on 2-day strike to protest against a "meagre" 2 per cent salary hike offered by Indian Banks Association (IBA) -- the management body. The strike, also supported by employees of some old generation private sector banks and foreign banks, will continue tomorrow. Operations in the new-generation private banks like ICICI Bank, HDFC Bank, Axis Bank were however almost normal, barring few activities including cheque clearance. There were reports of disruption in banking operations in various states. The impact of strike in certain states like Kerala, West Bengal, Bihar and Jharkhand was more severe compared to other states. Nearly 10 lakh employees, working in various branches of 21 public sector banks, 13 old generation private sector banks, six foreign banks and 56 regional rural banks across the country went on the strike as IBA offered them a nominal wage revision, All India Bank ...

Ahead of deadline, govt hopeful of good response on formal bidding of Air India

No bids have been received so far for stake in Air India, the government said today even as it hoped of getting a good response on the last day of the formal bidding process tomorrow. "We expect good response before bid closes tomorrow," Civil Aviation Secretary R N Choubey told PTI responding to a query. Earlier in the day, he said no bids have been received for the stake sale so far. The deadline for the expression of interest ends tomorrow and the request for proposal could be issued only after June 15. On May 23, Choubey had said the highest bidder for the airline would be known by August-end. But, the highest bidder might not be the successful bidder, he said, adding the government intends to complete the disinvestment by year-end. Significantly, he had said the government could decide against selling state-run Air India if it does not get "adequate" price for it. "The government has the right to sell or not to sell Air India if the bid price is found to be inadequate," Choubey ..

Pokarna consolidated net profit declines 31.15% in the March 2018 quarter

Sales decline 8.14% to Rs 88.68 crore

Nava Bharat Ventures consolidated net profit rises 420.48% in the March 2018 quarter

Sales rise 133.70% to Rs 884.80 crore

Grindwell Norton consolidated net profit rises 29.73% in the March 2018 quarter

Sales rise 17.61% to Rs 381.23 crore

Indoco Remedies standalone net profit rises 14.27% in the March 2018 quarter

Sales decline 2.52% to Rs 258.86 crore

Mrugesh Trading reports standalone net loss of Rs 0.01 crore in the March 2018 quarter

Reported sales nil

Chokhani Securities standalone net profit rises 73.85% in the March 2018 quarter

Sales reported at Rs 0.57 crore

Libord Finance reports standalone net profit of Rs 0.28 crore in the March 2018 quarter

Sales rise 243.75% to Rs 0.55 crore

Mirza International standalone net profit declines 0.17% in the March 2018 quarter

Sales rise 9.97% to Rs 225.65 crore

Nava Bharat Ventures standalone net profit rises 281.07% in the March 2018 quarter

Sales rise 47.29% to Rs 408.65 crore

Mid East Portfolio Management standalone net profit declines 25.00% in the March 2018 quarter

Reported sales nil

Hind Rectifiers reports standalone net profit of Rs 3.19 crore in the March 2018 quarter

Sales rise 69.46% to Rs 54.43 crore

Shivalik Bimetal Controls standalone net profit rises 78.80% in the March 2018 quarter

Sales rise 37.04% to Rs 42.84 crore

Esab India standalone net profit rises 743.12% in the March 2018 quarter

Sales rise 16.07% to Rs 153.59 crore

Grindwell Norton standalone net profit rises 33.40% in the March 2018 quarter

Sales rise 17.77% to Rs 375.37 crore

Dharamsi Morarji Chemicals Co standalone net profit rises 16.02% in the March 2018 quarter

Sales rise 0.53% to Rs 49.31 crore

California Software Company consolidated net profit rises 125.00% in the March 2018 quarter

Sales reported at Rs 0.95 crore

Narayana Hrudayalaya consolidated net profit declines 55.91% in the March 2018 quarter

Sales rise 33.77% to Rs 646.80 crore