Page 3771 - Business Finance
Sudha Balakrishnan appointed 1st RBI CFO
NSDL Vice-President Sudha Balakrishnan has been appointed as the first chief financial officer (CFO) of the Reserve Bank, as part of the organisational change brought in by Governor Urjit Patel, banking sources said. Balakrishnan, a chartered accountant, will hold the rank of executive director. While inviting applications for the newly created post in May last year, RBI had said that the CFO will be responsible for reporting of financial information of the central bank, establishing accounting policies and ensuring compliance with regulations. The CFO, it had said, will also be entrusted with communicating RBIs expected and actual financial performance and overseeing its budget processes. Till now, the central bank did not have a dedicated official handling the finance function, and the tasks were being carried out internally. Patel's predecessor Raghuram Rajan had pursued an idea of creating a chief operating officer for the apex bank but the government shot down the proposal as it .
FPIs turn net buyers
Net inflow of Rs 297.42 crore on 28 May 2018
Japan Nikkei falls 0.55% on yen ascent
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Wheels India records Q4 net at Rs 19.5 cr
Steel wheels manufacturer Wheels India Ltd has registered a 12.7 per cent rise in the fourth quarter net profits ending March 31, 2018 to Rs 19.5 crore. The city-based TVS Group company recorded net profits of Rs 17.3 crore in the corresponding quarter last year. Net profits for FY17-18 went upto Rs 71.8 crore, up by 23 per cent from Rs 58.4 crore registered a year ago. Revenue for the quarter under review went up by 26.6 per cent to Rs 705 crore from Rs 557.7 crore recorded during the previous quarter, including net excise duty. For FY2017-18, revenue grew to Rs 2,469.5 crore, up by 13.4 per cent from Rs 2,176.1 crore registered a year ago. Declaring the annual performance, company Managing Director Srivats Ram said the company expects to clock double digit growth this year. "There has been strong signs of growth in the commercial vehicle industry. Mining (industry) is showing some signs of life. Actually, we are seeing double digit growth in the segments we are present ..
Bayer could get U.S. approval for Monsanto deal on Tuesday: source
FRANKFURT (Reuters) - Bayer could be granted conditional U.S. antitrust approval for its planned takeover of Monsanto as soon as Tuesday, clearing a major hurdle for the $62.5 billion deal, a person familiar with the situation told Reuters.
Bangladesh could well march past India on the growth path (Column: Active Voice)
India has had an unfortunate history of losing out to its economic counterparts over time.
Australia Market ends 0.2% up
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Worsening Italian crisis batters European markets
LONDON (Reuters) - A worsening political crisis in Italy provoked a second day of selling on European markets, with the euro cut to an 11-month low, stocks punished and short-term borrowing costs surging for the government in Rome.
India's exports may reach USD 350 bn this fiscal: FIEO
India's exports are expected to record a growth of about 15-20 per cent and touch USD 350 billion in the current fiscal on account of a host of factors including rise in commodity prices, exporters body FIEO said today. Federation of Indian Export Organisations (FIEO) President Ganesh Gupta said despite increasing global protectionism, the country's exports would continue to register healthy growth rates. "Growth is looking promising this fiscal. Indian exports, which are hovering at around USD 300 billion, should show 15-20 per cent growth so as to reach USD 350 billion in this fiscal," he told reporters here. He said the northward movement in petroleum and commodity prices and the recent depreciation of Indian rupee are supporting exports. He also urged the government to provide fiscal and non-fiscal incentives to boost the shipments in both advanced and emerging markets. Gupta also said that although exports have recorded growth in 2017-18, labour intensive sectors such as carpet ..
Robot to assist Vistara passengers at IGI airport
Come July and passengers of full service carrier Vistara will be assisted by a robot at its lounge in IGI airport here, helping them address their queries, scanning boarding passes and providing flight status and weather conditions of the destination city. Capable of moving around in a predefined pathways. the robot named 'RADA"will also greet customers and interact with them using basic hand movements. Additionally, it can engage with kids and adults by playing games and other multimedia content such as songs and videos, said a statement issued by the airline. The robot will be placed at Vistara's Signature Lounge at Delhi Airport's Terminal 3 from July 5, it said. It will be further developed over a period of time in terms of functionality and features for future use cases, after gauging customer feedback. The robot has been envisioned and incubated under Vistara's Innovation initiative. It is conceived, designed and engineered by its team of technology experts and apprentices ...
Fortis Healthcare launches new bidding process
BENGALURU (Reuters) - India's cash-strapped Fortis Healthcare Ltd laid out plans on Tuesday for a fresh bidding process, after it became the subject of a bidding war by suitors seeking to cash in on an expected boom in India's private healthcare market.
Coal India Q4 profit drops 52% to Rs 1,295 cr
Coal India Ltd, the country's largest miner, today posted 52.3 per cent dip in consolidated profit to Rs 1,295.30 crore for the fourth quarter of last fiscal ended March 31, on higher employee cost. It had reported profit of Rs 2,718.8 crore in the January-March quarter of the preceding fiscal 2016-17, the state-owned company said in a BSE filing. The company's income increased to Rs 28,909.3 crore, over Rs 26,633.89 crore. The consolidated expenses of the company during March quarter were at Rs 27,757.10 crore, as against Rs 22,352.70 crore. "Post applicability of Goods and Services Tax (GST)...revenue from operations are disclosed net of GST. Accordingly, the revenue from operations and total expenses for the quarter and year ended March 31, 2018 are not comparable with the corresponding previous periods presented in the results," the filing said. The company's employee benefits expense in the quarter under review were at Rs 16,653.86 crore, as against Rs 9,240.67 crore, the filing .
Bank of India shares tank over 6 pc on Q4 loss
Shares of Bank of India today tumbled over 6 per cent after the company reported widening of its net loss to Rs 3,969.27 crore in the March quarter. The stock dropped 5.80 per cent to end at Rs 101.60 on BSE. Intra-day, it plunged 6.25 per cent to Rs 101.10. On NSE, shares of the company declined 6.17 per cent to close at Rs 101.10. The company's market valuation was eroded by Rs 1,089.34 crore to Rs 17,708.66 crore. In terms of equity volume, 15 lakh shares of the company were traded on BSE and over one crore shares changed hands on the NSE during the day. Bank of India yesterday reported widening of its net loss to Rs 3,969.27 crore in the March quarter due to higher provisioning for mounting bad loans. It had reported a net loss of Rs 1,045.54 crore for the January-March period of the preceding fiscal, 2016-17. In the previous quarter, October-December, of 2017-18 the loss was at Rs 2,341.20 crore. The bank's asset quality worsened as on March 31, 2018. The gross non-performing ...
Looking for a new job or career oriented training, attend Job Fair by CETPA!
Seeking a new job or job change? Are you a fresher looking to start your Dream career? Or a professional not satisfied with your current job profile? What if you can get the option to choose your new employer from the mound of best corporate? If your answer is yes to all of the above questions, then this job fair by CETPA is just for you!CETPA INFOTECH, the largest and the best Engineers training and placement company, with corporate office at Noida, is conducting a Mega Job Fair where HR of various top notch companies will be looking to hire industry ready professionals from every field of Engineering ranging from Computer Science to Mechanical/Civil to Electrical/Electronics to Database to Networking.The event will be a multifaceted approach which will include providing job opportunities, support for CVs and interviews, counseling and opportunities in every domain of Engineering. This Job Fair will be open for all and will take place from 31st May- 5th June 2018. There will be no ...
Akme Star Housing Finance standalone net profit rises 62.16% in the March 2018 quarter
Sales rise 186.59% to Rs 2.35 crore
Burnpur Cement reports standalone net loss of Rs 3.95 crore in the March 2018 quarter
Sales rise 419.83% to Rs 18.61 crore
Cineline India standalone net profit rises 1.47% in the March 2018 quarter
Sales rise 2.73% to Rs 5.26 crore
Precision Camshafts standalone net profit declines 39.33% in the March 2018 quarter
Sales decline 10.58% to Rs 104.71 crore
Rama Steel Tubes standalone net profit rises 90.80% in the March 2018 quarter
Sales rise 39.82% to Rs 93.86 crore
Rural Electrification Corporation standalone net profit declines 36.72% in the March 2018 quarter
Sales decline 4.77% to Rs 5444.59 crore