Page 390 - Business Finance
Relaxo Footwears recommends Issue of Bonus shares
In the ratio of 1:1
Industrial production slips 0.1 pc in March with slowdown in manufacturing
Industrial output contracted 0.1 per cent in March due to a slowdown in the manufacturing sector, official data showed on Friday.Factory output as measured in terms of the Index of Industrial Production (IIP) had expanded 5.3 per cent in March 2018.During the entire 2018-19 fiscal, industrial output witnessed a 3.6 per cent growth as against 4.4 per cent in the previous fiscal, according to data released by the Ministry of Statistics and Programme Implementation.Manufacturing sector contracted by 0.4 per cent compared to minus 0.3 per cent in February. Capital goods sector shrank by 8.7 per cent versus minus 8.8 per cent in February, the data showed said.The industry group 'manufacture of furniture' showed the highest negative growth of 24.6 per cent followed by a decline of 18.5 per cent in 'manufacture of other transport equipment' and minus 15.3 in 'manufacture of fabricated metal products, except machinery and equipment.'On the other hand, the industry group 'manufacture of ...
Indian millennials driving innovation for us: Samsung
Millennials are our core target audience because they understand advanced technology which drive us to push the envelope and bring out devices with top-notch specifications, a top Samsung executive said here on Friday.
Majestic Research Services & Solutions appoints Company Secretary & Compliance Officer
W.e.f. 10 May 2019
Canara Bank posts Rs 552-crore loss in Q4
State-run major Canara Bank on Friday reported a lower Rs 552-crore standalone net loss for the fourth quarter (January-April) of the fiscal 2018-19 as compared to Rs 4,860-crore net loss in the same period a year ago.
Loan against property by Bajaj Housing Finance Limited aids financial planning
Bajaj Housing Finance Limited (BHFL), a 100 per cent subsidiary of Bajaj Finance Limited, one of India's leading financial services company, offers customer-friendly features and attractive benefits in their loan against property (LAP) offering.Features like high-value and customized loans at competitive interest rates, flexible loan repayment tenure, online account management, quick and easy loan application and disbursal in just 4 days, are some of the key features that make BHFL's Loan Against Property one of the top picks in the industry.BHFL's Loan against Property is the safest fit to help the customer deal with planned and unplanned financial circumstances. Under loan against property, the company offers high-value and customized loans to salaried individuals as well as different categories of self-employed personnel's like entrepreneurs, businessmen or consultants.Some of the key features and valuable benefits of BHFL's Loan against Property are:Provision of High-Valued Loans .
UPL announces 26.75 pc stake buy in Allfresh
Agrochemical firm UPL Friday said it has acquired 26.75 per cent stake in Allfresh Supply Management for Rs 9.24 crore in an all-cash deal. The deal will be completed by May 20, 2019 and will be subject to compliance of certain conditions, UPL said in a filing to the BSE . "UPL Ltd has invested Rs 9,24,99,283 in Allfresh Supply Management Pvt Ltd constituting 26.75 per cent (on fully diluted basis) in the paid-up share capital of Allfresh," the filing said. Allfresh is primarily engaged in procuring and supplying fresh produce (specifically fruits) to its customers after appropriate post-harvest management activities. According to UPL, the acquisition of Allfresh will help the company in growing the post-harvest market in the country. It would also help in leveraging the association of Allfresh with farmers and strengthen the relationship, the company said. UPL has advanced technology and know-how in the post-harvest segment which can be utilised efficiently by the customers of ...
AAI Member (Finance) quits, cites 'personal reasons'
Almost a year before his extended tenure ends, S. Suresh, Member (Finance) at the Airports Authority of India (AAI), has resigned from the post, citing "purely" personal reasons.
Jet saga: Lenders make contingency plan in case of no bids
As the official bidding deadline for Jet Airways nears, its lenders are said to be preparing a contingency plan to allow ceratin parties, including a group of airline employees who have shown interest in taking over the airline, a chance to present their case.
Rupee snaps 4-day losing streak; inches up 2 paise to 69.92 vs USD
Snapping its four-session losing run, the rupee ticked higher by 2 paise to finish at 69.92 against the US dollar Friday. Forex traders said the domestic unit recovered in the later part of the day amid reports that the US is expected to remove India from its currency manipulation watch list. According to media reports, the US Treasury Department may name Vietnam as a currency manipulator and is expected to remove India and South Korea from its watch list. However, rising crude oil prices in the overseas market, sustained foreign fund outflows and continuing sell-off in the domestic equity market weighed on the rupee, forex traders added. At the Interbank Foreign Exchange (forex) market, the local unit opened at 70.04. It moved in a range of 70.07 to 69.76 before finally ending at 69.92, up 2 paise over its previous close. The rupee had settled at 69.94 against the US dollar Thursday. During the week, the rupee fell by 70 paise. "The rupee is under pressure as the trade tension ...
Thyssenkrupp to cut 6,000 jobs worldwide, 4,000 in Germany: CEO
Industrial conglomerate Thyssenkrupp will cut 6,000 jobs worldwide, including 4,000 in Germany, chief executive Guido Kerkhoff said Friday, in the wake of its failed merger with Indian steel giant Tata. Speaking after the shelving of the Tata merger was announced Friday, Kerkhoff said Thyssenkrupp's "new group-wide performance programme" also "includes the reduction of 6,000 jobs" with 4,000 to be cut in Germany and the rest abroad.
Strides Pharma Science Q4 profit after tax at Rs 43.81 cr
Drug firm Strides Pharma Science Friday reported a consolidated profit after tax of Rs 43.81 crore from operations for the March 2019 quarter. The company had posted a loss of Rs 3.39 crore in the year-ago period, the company said in a BSE filing. Consolidated revenue stood at Rs 839.70 crore for the quarter under review as against Rs 669.89 crore for the same period a year ago. For 2018-19, the company posted a profit after tax of Rs 58.93 crore compared to Rs 74.27 crore in 2017-18. The company's consolidated revenue from operations stood at Rs 3,011.68 crore for 2018-19, against Rs 2,845.12 crore in the year-ago period. "Starting the year with several challenges, we are satisfied with our FY19 exit quarter performance as most of the strategic outcomes have met our expectations," Strides Pharma Science founder and group CEO Arun Kumar said. Moving into the new financial year, company's emerging market and institutional business will get highest attention and priority, he added. The .
EU to block joint venture with Tata Steel, says ThyssenKrupp
German steel giant ThyssenKrupp said Friday that it expects the European Commission to block its proposed joint venture with Indian steel conglomerate Tata Steel due to "continuing concerns". Tata Steel and ThyssenKrupp had signed definitive agreements in June 2018 to combine their steel businesses in Europe to create a 50-50 pan European joint venture company which would be the continent's second-largest steel company after Lakshmi Mittal's ArcelorMittal. The Commission opened an "in-depth" investigation into the proposed merger in October last year amid concerns that the proposed deal between the two steel majors may reduce competition in the supply of various high-end steels. Following an agreed extension last month for further negotiations, ThyssenKrupp confirmed that it had submitted a "substantial" offer to the European Commission the executive arm of the 28-member economic bloc. However, the German major said that after a latest conversation it now seemed like the planned ...
Skoda aims to sell one lakh cars per year from 2025: Official
: With the launch of two more cars in two years, Skoda Auto is targeting to sell one lakh vehicles per year in India from 2025, a top company official said here Friday. The company is scheduled to launch it new Karooq brand in the middle of the next year and another vehicle in 2021, which are 95 per cent localised -- as good as Made in India -- under India 2.0 project, Skoda Auto India Pvt Ltd director (sales, service and marketing) Zac Hollis told reporters. Stating that the company has sold 17,244 vehicles across India, with South contributing 48 per cent in 2018, he said he expected sales to grow and touch 18,000 vehicles this year. Though there was a slump in the sales in the first four months due to the elections, the sales were expected to pick up and reach top-level in the second half of the year, he said. Hollis was here to open the company's largest workshop in India and also outside China - SGA Cars India - for which the company is investing Rs 8,000 crore ...
Jet Airways shares up 3% on revival hopes
Shares of Jet Airways rose by nearly 3 per cent Friday after SBI chairman Rajnish Kumar said the lenders have received two "unsolicited" bids for the company and "one" more is expected by the end of the day, keeping the hopes for the revival of the grounded carrier alive. The scrip went up by 2.85 per cent to close at Rs 151.80 on the BSE. During the day, it gained 6.91 per cent to Rs 157.80. In terms of traded volume, 21.26 lakh shares were traded on the exchange during the day. The consortium of 26 lenders, led by State Bank of India, which now owns 51 per cent in the airline, had invited expressions of interest (EoIs) between April 8 and 12 and had received four preliminary bids. "Two unsolicited bidders have submitted EoI for Jet and we are expecting one more bid by the end of the day," Kumar told reporters at the earnings conference in Mumbai. Jet Airways stopped operations on April 17 due to acute financial distress. The BSE had sought clarification from Jet Airways Thursday ...
Industrial production declines 0.1 pc in March
Industrial output contracted 0.1 per cent in March due to slowdown in the manufacturing sector, official data showed Friday. Factory output as measured in terms of the Index of Industrial Production (IIP) had expanded 5.3 per cent in March 2018. During the entire 2018-19 fiscal, industrial output witnessed a 3.6 per cent growth as against 4.4 per cent in the previous fiscal, according to data released by the Central Statistics Office (CSO).
TCS in partnership with U.S. Chamber Foundation
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Graviss Hospitality reports consolidated net loss of Rs 0.66 crore in the March 2019 quarter
Sales decline 9.50% to Rs 13.63 crore
Relaxo Footwears standalone net profit rises 1.78% in the March 2019 quarter
Sales rise 15.51% to Rs 635.70 crore
Matrimony.com Ltd posts net profit of Rs 7.28 crore in Q4
: City-based Matrimony.com Ltd, engaged in online matrimony service, Friday said it has clocked net profits at Rs 7.28 crore for the quarter ending March 31, 2019. The city-based firm in a filing said that for the year ending March 31, the net profit slipped to Rs 43.11 crore from Rs 73.86 crore registered a year ago. Total income for the January-March 2019 quarter grew to Rs 86.61 crore from Rs 84.36 crore a year ago. For the year ending March 31, the total income was at Rs 350.08 crore as against Rs 335.51 crore registered the same period last year. Commenting on the financial performance, the company's chairman and managing director Murugavel Janakiraman said, "Q4 was a robust quarter in terms of billing growth. This will drive revenue momentum in the coming quarter and provide us with a good start to the financial year". "We are confident of our on-going measures towards customer-centricity will help us deliver an enhanced performance in FY 20," he said. On the ...