Page 3763 - Business Finance
Salesforce earnings beat on cloud strength, raises forecast
(Reuters) - Salesforce.com Inc reported quarterly earnings on Tuesday that topped analysts' expectations and raised its full-year forecast as demand for its cloud-based sales and marketing software continues to propel rapid growth.
Oil prices edge down amid worries Saudi Arabia, Russia could up supply
SINGAPORE (Reuters) - Oil prices inched down on Wednesday amid concerns that Saudi Arabia and Russia will pump more crude in the second half of the year in response to falling global crude inventories and rising consumer prices.
Glenmark Pharma slips after weak Q4 results
Glenmark Pharmaceuticals fell 2.49% to Rs 517.80 at 10:03 IST on BSE after consolidated net profit fell 17.48% to Rs 151.63 crore on 7.28% decline in net sales to Rs 2247.89 crore in Q4 March 2018 over Q4 March 2017.
Market breadth turns positive from negative
Stocks cut losses in morning trade after a gap-down opening triggered by weak Asian stocks. At 10:15 IST, the barometer index, the S&P BSE Sensex, was down 115.05 points or 0.33% at 34,834.19. The Nifty 50 index was down 44.15 points or 0.42% at 10,589.15. Shares from cement and telecom sectors saw mixed trend. Shares of private sector banking major ICICI Bank dropped.
Vietnam court upholds key decision in country's biggest-ever fraud case: victim's lawyer
HANOI (Reuters) - A Vietnamese court has upheld a key judgement in the country's biggest-ever fraud case, a lawyer for one of the victims told Reuters, in a trial that has spotlighted Vietnam's ability to tackle financial crime at a time when foreign banks are heeding government calls to invest.
Banking services impacted as PSU staff goes on 2-day strike
Banking activities in public sector banks across the country have been interrupted as employees go on two-day nation-wide strike against the meagre 2 per cent salary hike offered by the management - Indian Banks Association. However, operations in the new-generation private banks like ICICI Bank, HDFC Bank, Axis Bank were almost normal, barring few activities including cheque clearance. Since the strike coincides with the month-end, salary withdrawals from branches are likely to get affected. Some ATMs may also take a hit. Besides, deposit in branches, FD renewal, government treasury operation, money market operation would see the impact of the strike. As several rounds of talks between banks and the unions of their employees did not make any headway, the United Forum of Banking Unions (UFBU), an umbrella body of nine bank unions, has gone on strike against the proposed wage hike of 2 per cent as against 15 per cent given last time, All India Bank Employees Association (AIBEA), ...
AirAsia shares slide as probe puts India unit IPO, expansion at risk
SINGAPORE/KUALA LUMPUR (Reuters) - Shares of AirAsia Group Bhd tumbled on Wednesday after India federal police filed a case against the airline that analysts said could defer IPO plans and international expansion for its Indian arm.
Gold inches up as Italy crisis drives safe-haven buying
BENGALURU (Reuters) - Gold prices edged up on Wednesday as political turmoil in Italy and concerns over Sino-U.S. trade conflict spurred safe-haven demand, though a strong dollar limited gains for the metal.
BPCL corrects on profit booking
BPCL fell 1.58% to Rs 399.05 at 09:41 IST on BSE on profit booking after a recent rally.
Sensex suffers more losses, slides 214 pts on global cues
Benchmark Sensex declined by over 214 points in opening trade today, extending yesterday's fall, tracking a weak trend in global markets amid fresh concerns of a possible China-US trade war. Unabated capital outflows by foreign funds and profit-booking by retail investors too dampened sentiments. There was caution among investors ahead of the May month derivatives expiry tomorrow. The 30-share index, which had lost 216.24 points in the previous session, drifted down by 214.13 points, or 0.61 per cent, to 34,735.11. The NSE Nifty cracked below the 10,600-mark by falling 69.45 points, or 0.65 per cent, to 10,563.85. All sectoral indices led by bank, oil & gas and capital goods were in the negative zone, slipping up to 1.02 per cent. Brokers said sustained foreign funds outflows, weak trend at other Asian markets and overnight losses at the Wall Street, rattled by renewed concerns of a possible China-US trade war and political uncertainty in Italy, mainly triggered selling ...
Market drops on weak Asian stocks
Domestic stocks began trading for the day on a downbeat note on weak Asian stocks. At 9:30 IST, the barometer index, the S&P BSE Sensex, was down 179.36 points or 0.51% at 34,769.88. The Nifty 50 index was down 65.75 points or 0.62% at 10,567.55.
PRAAPTI App and Web portal launched
PRAAPTI App and web portal has been developed to bring transparency in power purchase transactions between Generators and Discoms.
Rupee sheds 5 paise against dollar in opening trade
The rupee today opened on a subdued note with a loss of five paise at 67.91 against the US dollar at the interbank forex market. Strength in the dollar against other currencies overseas weighed on the domestic unit. Traders attributed the rupee's fall to sustained foreign fund outflows, increased demand for the US currency from importers and banks amid a lower opening in the domestic equity market. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 407.33 crore yesterday, provisional data showed. Yesterday, the rupee fell 43 paise to end at 67.86 due to heavy month-end dollar demand from importers. The benchmark BSE Sensex fell 214.13 points, or 0.61 per cent, to 34,735.11 in opening trade today.
Indian Overseas Bank's Q4 net loss widens to Rs 3,606.73 cr on bad loans
Public sector lender Indian Overseas Bank's net loss widened 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. Its net income stood at Rs 5,814.42 crore during the fourth quarter of 2017-18 from Rs 5,661.70 crore in same period a year-ago, the bank said in a BSE filing. The bank's provisions for bad loans and contingencies increased sharply to Rs 6,774.55 crore during the March quarter from Rs 1,789.74 crore a year earlier. Asset quality worsened with gross non-performing assets (NPAs) at 25.28 per cent of gross advances at the end of March from 22.39 per cent in the year-ago period. Net NPAs were at 15.33 per cent of net loans, up from 13.99 per cent in the last quarter of 2016-17. For the full financial year 2017-18, the bank's net loss rose to Rs 6,299.49 crore from Rs 3,416.74 crore in 2016-17. Its net income remained lower at Rs 21,661.65 crore .
Vietnam set to make key ruling on country's biggest-ever fraud case
HANOI (Reuters) - A Vietnamese court is set to make a key ruling in the country's biggest-ever fraud case, in a trial that has spotlighted Vietnam's ability to tackle financial crime at a time when foreign banks are heeding government calls to invest.
Petrol price cut by 60 paise, diesel by 56 paise per litre
After 16 days of relentless price hikes, petrol price was today cut by about 60 paise a litre and diesel by 56 paise on the back of softening international oil rates and strengthening Indian rupee. Petrol price in Delhi was cut by 60 paise to Rs 77.83 a litre. Rates had yesterday touched an all time high of Rs 78.43 per litre, according to a price revision notification of state-owned oil firms. Diesel rates were cut by 56 paise in Delhi to Rs 68.75 per litre. Prices are now off their peak of Rs 69.31 a litre. The reduction comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates. In all, petrol price was increased by Rs 3.8 per litre and diesel by Rs 3.38 in that fortnight. Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals. In Mumbai, petrol price was cut by 59 paise to Rs 85.65 a litre. Diesel rates
Global stocks take battering as Italian crisis roils financial markets
TOKYO (Reuters) - Asian stocks extended a global sell-off on Wednesday as Italy's political crisis rippled across financial markets, toppling the euro to a 10-month low, pushing up Italian borrowing costs and sending investors rushing to safe-haven assets such as U.S. Treasuries.
Govt slashes fuel prices
After 16 days of continuous hike, fuel prices on Wednesday witnessed a slight drop.The petrol prices have been cut down to 60 paise in Delhi and 59 paise in Mumbai while diesel price went down by 56 paise in Delhi and 59 paise in Mumbai.The revised petrol prices in metropolitan cities are- Delhi: Rs 77.83 per litre; Mumbai: 85.65; Kolkata: 80.47 and Chennai: 80.80.Meanwhile, the cost of diesel per litre as on Wednesday is Rs 68.75 per litre in Delhi, Rs 73.20 per litre in Mumbai, Rs. 71.30 in Kolkata and Rs. 72.58 in Chennai.The straight fuel price hike has caused inconvenience and disappointment among the general public for the last 16th days.With the increase in fuel prices made a hole in the pockets of the buyers, the people across the nation condemned the Centre for the continuous increase in the fuel prices.To which, Union Petroleum and Natural Gas Minister Dharmendra Pradhan earlier assured the public that the government will soon take out a solution to tackle the situation.He ..
Exclusive: HNA's Hong Kong Airlines taps investors ahead of IPO - document
(Reuters) - Chinese conglomerate HNA Group's Hong Kong Airlines is considering an initial public offering in the "short to medium term" and tapping investors to raise funds through the issue of new shares and convertible bonds, a document reviewed by Reuters shows.
India's top fuel retailer trims petrol, diesel prices
NEW DELHI (Reuters) - Indian Oil Corp, , the country's top refiner and fuel retailer, has marginally cut pump prices of petrol and diesel around India, its website showed on Wednesday.