Page 3757 - Business Finance
Dish TV India reports standalone net loss of Rs 214.72 crore in the March 2018 quarter
Sales rise 119.18% to Rs 971.62 crore
Southern Gas reports standalone net loss of Rs 0.28 crore in the March 2018 quarter
Sales decline 0.63% to Rs 6.35 crore
Beardsell standalone net profit rises 25.93% in the March 2018 quarter
Sales rise 5.55% to Rs 41.64 crore
Kingfa Science & Technology (India) standalone net profit rises 74.06% in the March 2018 quarter
Sales rise 47.85% to Rs 171.76 crore
Rajapalayam Mills standalone net profit declines 93.53% in the March 2018 quarter
Sales rise 5.86% to Rs 108.39 crore
Dish TV India reports consolidated net profit of Rs 118.21 crore in the March 2018 quarter
Sales rise 116.27% to Rs 1532.37 crore
Emkay Global Financial Services consolidated net profit rises 15.84% in the March 2018 quarter
Sales rise 36.26% to Rs 40.40 crore
Belgium's Bpost eyes cross-border deliveries boost with DHL partnership
(Reuters) - Belgian postal operator Bpost said on Wednesday it was teaming up with DHL for e-commerce deliveries in the Benelux region, in a move to boost its position in cross-border deliveries of online purchases.
India Nayara Energy's oil imports from Iran up 32 percent in April
NEW DELHI (Reuters) - Iran's key Indian client Nayara Energy, formerly known as Essar Oil, imported nearly 12 percent more oil from Tehran in April compared with a year ago, according to data from the shipping industry and sources.
ICICI to set up enquiry on allegations against CEO Chanda Kochhar
ICICI Bank's Board of Directors have decided to institute a "comprehensive enquiry" to look into an anonymous whistle blower's complaint alleging that Bank's MD and CEO Chanda Kochhar had not adhered to provisions relating to "code of conduct" of the bank.
IOB Q4 loss widens to Rs 3,606.73 cr on rising bad loans
Public sector lender Indian Overseas Bank (IOB) witnessed widening of losses to Rs 3,606.73 crore in the March quarter due to higher provisioning for mounting bad loans. The bank had registered a net loss of Rs 646.66 crore in the same quarter of previous fiscal. The loss was mainly due to provisioning requirements including higher provisions on account of RBI guidelines on revised framework on Resolution of Stressed Assets, IOB said in a statement. "Pursuant to the revised framework, the bank has classified the specific restructured accounts in accordance with extant Income Recognition and Asset Classification (IRAC) norms and made a provision of Rs 799.37 crore towards such accounts during the current quarter," it said. Its total income rose to Rs 5,814.42 crore during the fourth quarter of 2017-18 from Rs 5,661.70 crore in same period a year-ago. At the same time, interest income increased to Rs 4,828 crore as against Rs 4,630 crore for the quarter ended March 31, 2017, registering
ICICI Bank to probe allegations against CEO Chanda Kochhar
(Reuters) - ICICI Bank Ltd said on Wednesday it will institute an inquiry into the allegations raised by an anonymous whistleblower against Chief Executive Chanda Kochhar.
Vietnam court upholds key decision in landmark 'Super Swindler' fraud case
HANOI (Reuters) - A court has upheld a key judgement in Vietnam's biggest-ever fraud case, spotlighting the country's ability to tackle financial crime at a time when foreign banks are heeding government calls to invest.
Nepal finance minister presents $12.15 bn budget
The Nepal government has presented a budget of 1.315 trillion Nepali rupees ($12.15 billion) for the 2018-19 fiscal year with a target of achieving an economic growth rate of eight per cent.
MFs bet big on IT sector; exposure soars to all time high in April
The mutual fund industry is betting big on IT firms as its equity exposure to the sector climbed to all-time high of nearly Rs 71,000 crore in April amid depreciating rupee and market volatility. Since January, MF houses have increased weight on the sector, which gets a major chunk of its revenues in US dollars. MF's allocation to software stocks stood at Rs 70,773 crore as on April, accounting for 7.37 per cent of their total equity assets under management (AUM) of Rs 9.6 lakh crore, according to data available with the Securities and Exchange Board of India (Sebi). In comparison, the exposure was at Rs 64,265 crore in March. It was at Rs 42,023 crore in April 2017. At current levels, the MF industry has the highest exposure to software sector since August 2009. Data is not available for sector-wise exposure before that time, when the equity funds had deployed Rs 11,913 crore (6.71 per cent) in software shares. This year has seen a consistent growth in investment in software stocks ..
Punj Lloyd posts Q4 profit at Rs 944 crore
Infrastructure firm Punj Lloyd today reported a standalone profit of Rs 944 crore for the quarter ended March 2018. The company had posted a loss of Rs 181.58 crore in the year-ago period, Punj Lloyd said in a filing to the BSE. Total income from operations in the January-March quarter increased to Rs 1,133 crore, over Rs 1,027 crore in the corresponding period of 2016-17. The company, it said, as part of its financial restructuring towards paring debt and strengthening balance sheet thereby also being better equipped to bid for new projects, has submitted a proposal to its lenders for restructuring of its debt. The restructuring proposal is currently being reviewed by the lenders as per the latest RBI guidelines. Further, various exercises required for the debt restructuring viz. techno evaluation study, forensic audit, fair valuation of various assets, credit rating and review of future business plans etc are either being carried out simultaneously or have already been ...
Kerala to reduce fuel prices by Re 1
The Kerala government on Wednesday announced a Re 1 per reduction per litre in the price of petrol and diesel from Friday, in a bid to bring some relief to the people hit by rising fuel costs.
Hong Kong Hang Seng falls 1.4% as Italian crisis, trade war fears weigh
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China Market on Italian turmoil, U.S.-China trade war fears
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OECD warns against 'escalation' in trade tensions
The OECD today appealed for an end to the "escalation" in global trade tensions, as the introduction of US tariffs on steel and aluminium imports loomed. President Donald Trump announced the shock 25 per cent tariffs on steel and 10 per cent duty on aluminium in March, sparking a global diplomatic tussle that sent the markets into choppy waters for weeks. The tariffs are due to enter into force from June 1, despite efforts by world leaders including France's Emmanuel Macron and Germany's Angela Merkel to bring the multilateral trade system back from the brink. The EU's top trade official earlier this week said it was unrealistic at this stage to hope for a permanent exemption for the bloc from the tariffs before they kick in on Friday. Separately, the United States is readying trade sanctions against China over intellectual property theft. Despite announcing a truce in the trade hostilities less than two weeks ago, the White House has since signalled it is ready to pull the trigger ..