Page 3864 - Business Finance
Indo National standalone net profit rises 222.27% in the March 2018 quarter
Sales decline 3.38% to Rs 63.76 crore
Kolte Patil Developers consolidated net profit rises 105.74% in the March 2018 quarter
Sales rise 43.31% to Rs 477.66 crore
BLS International Services consolidated net profit rises 16.95% in the March 2018 quarter
Sales rise 5.31% to Rs 204.63 crore
Motherson Sumi Systems consolidated net profit rises 7.32% in the March 2018 quarter
Sales rise 37.67% to Rs 15281.58 crore
Grasim Industries consolidated net profit declines 20.37% in the March 2018 quarter
Sales rise 74.46% to Rs 17437.95 crore
Govt waives Rs 251 cr penal interest on loans to Visakhapatnam Port
The government today waived Rs 251 crore penal interest on loans extended to Visakhapatnam Port Trust (VPT). The decision was taken by the Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi. "Approval has been given for "Waiver of Penal Interest amounting to Rs 250.89 crore in respect of VPT as on 31.03.2017 and further accruals thereon till date of approval of waiver, Ministry of Shipping said in a statement. It said VPT will pay penalty @0.25 per cent of Penal Interest as on date of approval of waiver of Penal Interest. Besides, it will "pay the outstanding Principal of Rs 44.69 crore and outstanding interest as on the date of approval of waiver, in one single instalment in the Financial Year 2018-19, the statement said. VPT had availed of Rs 110.41 crore in loans at different points of time beginning from 1970-71 to 1984-85 to finance its Outer Harbour Project to accommodate deep draft vessels of 100,000 DWT for iron ore exports. Each loan had a ...
Bain Capital Credit wins rescue deal for Italy's Trevi - sources
LONDON/MILAN (Reuters) - Italian engineering company Trevi is in exclusive talks with Bain Capital Credit to raise cash in a rescue deal worth more than 900 million euros ($1.06 billion), four sources familiar with the matter told Reuters.
IMF urges Saudi to contain spending as deficit widens
The International Monetary Fund has called on Saudi Arabia to keep public spending under control, even as a partial recovery of oil prices helps the economy emerge from recession. The lender called on the world's top oil exporter to continue "bold structural changes" but to "resist the temptation to re-expand government spending in line with higher oil prices", in a statement late yesterday. Saudi Arabia has embarked on an ambitious reform drive, known as Vision 2030, as it seeks to reduce dependence on oil, diversify its income streams and modernise the economy. But figures released by the finance ministry last week show spending soared 18 per cent to USD 53.5 billion in the first quarter of this year, outstripping a 15 per cent increase in revenues, which hit USD 44.3 billion. This created a quarterly budget shortfall of USD 9.2 billion, up 31 per cent on the first three months of 2017. Despite the rising deficit, the IMF also congratulated the Kingdom for measures designed to boost
Nifty May futures at discount
Turnover on NSE's F&O segment rises
Savant Infocomm appoints director
On 18 May 2018
Hong Kong Stocks end down
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Cipla shares trim early gains; end 2% up
Shares of drug major Cipla today trimmed most of its early gains on profit-booking and ended nearly 2 per cent higher. The stock settled at Rs 532.75, up 1.60 per cent on BSE. During the day, it surged 7.27 per cent to Rs 562.50. At NSE, shares of the company rose 1.90 per cent to end at Rs 534. In terms of equity volume, 4 lakh shares of the company were traded on BSE and over 74 lakh shares changed hands at NSE during the day. Cipla yesterday reported a consolidated net profit of Rs 153.25 crore for the quarter ended March 31, on account of robust sales in key markets and reduction in expenses. The company had posted a net loss of Rs 62.79 crore during January-March, 2016-17, Cipla said in a BSE filing. Total income from operations stood at Rs 3,697.97 crore. It was Rs 3,582 crore for the same period a year ago.
Sensex, Nifty fall, oil stocks top drag
(Reuters) - Indian shares fell on Wednesday, dragged by energy stocks such as Hindustan Petroleum Corp Ltd and Oil and Natural Gas Corp Ltd (ONGC) on rising concern that the government may ask state-owned oil firms to share the burden of higher petrol and diesel prices.
Global banks scrap for share of expected China MSCI trading boom
HONG KONG (Reuters) - Western banks are scrambling to beef up research coverage of Chinese stocks as they look to cash in on the looming inclusion of mainland stocks in MSCI's flagship emerging markets indexes, which is expected to trigger a surge of foreign inflows.
Britain's M&S says must modernise urgently to survive
LONDON (Reuters) - Britain's Marks & Spencer said it needed to modernise urgently to survive after a second straight annual profit fall and a 321 million pound ($429 million) charge for a major store closure programme.
BLS International registers 93% growth in FY18
BLS International Services Limited (BLS), a specialist provider of visa, passport, attestation, consular and citizen services to the governments across the world reported a net profit of Rs. 96.5 crore for FY18, up by 93 percent from the corresponding quarter of last fiscal.Total income for the year ended March 2018 stood at Rs. 793.1 crore, up by 24.4 percent, as compared to Rs. 637.4 crore in the last year, while its earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs. 162.7 crore from Rs. 84.8 crore in FY17."Q4 FY17-18 has shown some remarkable growth in the business due to several additions in the global contract and their timely deliverables. Being the face of the government across globe and providing the best and quality services to the citizens, coupled with remarkable results reflect the pace at which the company is growing and that is likely to continue for the next quarters as well," said Shikhar Aggarwal, Joint Managing Director, BLS ...
Barclays has no plans for tie-up with rival banks - sources
LONDON (Reuters) - Barclays Plc is not exploring a potential merger with other banks, two sources close to the bank told Reuters, dismissing a media report that said Barclays was considering a possible deal with rivals, including Standard Chartered.
Indian sugar producers seeking great access to China market
BEIJING (Reuters) - Indian sugar refiners and exporters will meet Chinese importers and processors in Beijing next month to discuss opening up market access, according to a statement on China Merchandise Reserve Management Center.
Linseeds oil rebound on renewed demand
Linseeds oil recovered at the Vashi oils and oilseeds wholesale market here today following renewed demand from paint and allied industries. Elsewhere, castorseeds bold and castoroil commercial also firmed up owing to rising demand from soaps and shippers industries. Refined palmolein also surged due to firm demand from retailers. Groundnut oil slipped following sluggish demand from stockists and retailers. In the non-edibles segment, linseeds oil rose by Rs 12 per 10 kg to Rs 795 from Tuesday's closing level of Rs 783. Castorseeds bold moved up by Rs 15 per 100 kg to Rs 4,090 as against Rs 4,075 and castoroil commercial edged up by Rs 3 per 10kg to Rs 848 from Rs 845. Moving to edible section, refined palmolein gained by Rs 6 per 10 kg to Rs 731 as against Rs 725 yesterday. However, groundnut oil eased by Rs 5 per 10 kg to Rs 840 as compared Rs 845.
Indsil Hydro Power & Manganese update on scheme of amalgamation
Scheme becomes effective 23 May 2018