Page 391 - Business Finance
Sensex logs 8th straight session of loss
The benchmark Sensex fell for the 8th straight session on Friday after witnessing a heavy volatility over a major escalation in the trade tension between the US and China. The volatility index or the "VIX" surged by 4 per cent reflecting nervousness in the market.
Oil firms restore normalcy in fuel supplies in cyclone-battered regions of Odisha
Working round-the-clock to restore normalcy in fuel supplies in cyclone-hit regions of Odisha, state-owned oil marketing companies have operationalised almost all petrol pumps and LPG distribution centres in the three districts impacted by Cyclone Fani. While 232 out of 234 petrol pumps in Puri, Khordha and Cuttack districts are functional, all the 162 LPG distribution centres in these districts are operational, an official statement said here. "There is enough (fuel) stock to meet the demand in the affected districts," it said. The remaining two petrol pumps would be operational by Saturday. "Additional measures have been taken to manage the rush of two-wheelers in Puri city while normalcy has been restored in Nimapada, Brahmagiri and Satyabadi regions," it said, citing a review taken by Oil Minister Dharmendra Pradhan. Eight mini fuel tankers have been pressed into service for doorstep delivery of fuel to institutions such as government offices, banks, telecom operators and ...
Larsen & Toubro Q4 PAT up 8% to Rs 3,418 crore
Infrastructure major Larsen & Toubro Friday reported a 7.9 per cent rise in its consolidated profit-after-tax (PAT) at Rs 3,418.24 crore for the quarter ended March 2019. Its PAT stood at Rs 3,167.47 crore during the corresponding period a year ago, according to a BSE filing. Consolidated income in the said quarter increased to Rs 45,555.29 crore from Rs 41,091.04 crore in January-March 2018. The group's consolidated order book was Rs 2,93,427 crore as on March 31, 2019, with international order book constituting 22 per cent of the total. The board of directors has recommended a dividend of 18 per equity share, which is subject to the approval of shareholders. On the outlook, the company said that with India undergoing general elections in the first quarter of the new fiscal, the disruptions in decision making processes could impact key operating parameters in the first half of 2019-20. "Nevertheless, with the momentum set on infrastructure building, coupled with incremental tax ..
Strides Pharma Science standalone net profit declines 87.01% in the March 2019 quarter
Sales rise 11.71% to Rs 434.56 crore
Allahabad Bank reports standalone net loss of Rs 3834.07 crore in the March 2019 quarter
Total Operating Income rise 6.89% to Rs 4036.99 crore
VST Tillers Tractors standalone net profit declines 63.26% in the March 2019 quarter
Sales decline 26.03% to Rs 178.69 crore
H T Media reports consolidated net loss of Rs 21.08 crore in the March 2019 quarter
Sales decline 2.45% to Rs 535.66 crore
Shakti Pumps (India) consolidated net profit rises 64.91% in the March 2019 quarter
Sales rise 22.07% to Rs 159.62 crore
Syndicate Bank reports standalone net profit of Rs 128.02 crore in the March 2019 quarter
Total Operating Income rise 4.72% to Rs 5610.26 crore
Prism Johnson standalone net profit declines 20.75% in the March 2019 quarter
Sales rise 3.84% to Rs 1669.85 crore
Graviss Hospitality reports standalone net loss of Rs 0.27 crore in the March 2019 quarter
Sales decline 9.59% to Rs 13.57 crore
Strides Pharma Science consolidated net profit declines 91.65% in the March 2019 quarter
Sales rise 25.35% to Rs 839.70 crore
PVR consolidated net profit rises 77.18% in the March 2019 quarter
Sales rise 43.21% to Rs 837.63 crore
Vakrangee consolidated net profit declines 91.51% in the March 2019 quarter
Sales decline 94.51% to Rs 101.46 crore
Larsen & Toubro consolidated net profit rises 7.92% in the March 2019 quarter
Sales rise 10.46% to Rs 44933.96 crore
Account information requests jump from India: Twitter
The Indian government made information requests for 422 Twitter accounts in the July-December 2018 period while law enforcement agencies in the country asked the micro-blogging platform to remove 667 accounts for violating the law of the land -- a massive jump from 237 accounts in the previous reporting period.
Tata Steel shares tank over 6 pc ; m-cap falls by Rs 6,648 cr
Shares of Tata Steel plunged over 6 per cent Friday amid reports that the company's proposed deal with German major Thyssenkrupp might face regulatory hurdles in Europe. "Thyssenkrupp and Tata Steel expect that the planned joint venture of their European steel activities will not go ahead due to European Commission's continuing concerns," the German company said in a statement. The scrip tumbled 6.10 per cent to close at Rs 487.30 on the BSE. During the day, it dived 7.55 per cent to Rs 479.75. At the NSE, shares dropped 6.20 per cent to close at Rs 486.95. The scrip was the worst hit among the front-line companies on both key indices. Following the drop in the scrip, the market valuation of the company tumbled Rs 6,648.35 crore to Rs 55,839.65 crore on the BSE. In terms of traded volume, 26.40 lakh shares were traded on the BSE and over 3 crore shares on the NSE during the day.
Japan Market falls for sixth straight session
The import duty was raised to 25% from 10% on Friday after the United States and China failed to find a solution to their trade dispute in the first round of the two-day ministerial-level negotiations in Washington on Thursday. The two sides are pursuing last-ditch talks to try to salvage a trade deal.
'Business Park' coming up at airport in Hyderabad: Official
: As part of monetisation of land at the Rajiv Gandhi international airport here, GMR Hyderabad International Airport Ltd (GHIAL) is coming up with a 'Business Park' at the aerodrome, a senior official said here Friday. The park would comprise six towers with nearly one million sq ft of office space at an investment of about Rs 350 crore, the official said. CEO of GMR-land development Aman Kapoor told reporters that the construction of one of the six towers has been completed and a portion of it was currently occupied by a GMR group company. The entire project may take another two or two-and-and-half years to get ready, " he said. A part of the investment would be from internal sources and the rest through borrowing, he said. A senior official of GMR said discussion were on with several companies for leasing out the space in the second tower which is getting ready. GMR Hyderabad Aerotropolis, a wholly-owned subsidiary of GHIAL, was in the process of developing integrated