Page 392 - Business Finance
NMDC eyes tailings export from Bailadila iron ore mine in Chhattisgarh
State-owned NMDC is looking to export tailings from Bailadila iron ore mine in Chhattisgarh in view of supportive pricing dynamics in global markets, a top official has said. "NMDC is exploring the opportunity to export its tailings from Bailadila iron ore mines as current international prices of ore would make it feasible and profitable to do so," its chairman-cum-managing director (CMD) N Baijendra Kumar told PTI. At the Singapore Iron Ore Week 2019 forum, many participants evinced keen interest in this regard and several trade enquiries were made, he said. Bailadila is a complex comprising two large surface mines, Bacheli and Kirandul, and is approximately 374 kilometres from Raipur, Chhattisgarh. The mine is owned and operated by the state-owned mining company NMDC. The company is also in a process of laying a 15 million tonne per annum (MTPA) slurry pipeline from Bailadila iron ore Bacheli complex to Vizag port, an official said. "The first phase (of the pipeline) is being ...
SBI shares up nearly 3%; m-cap rises by Rs 7,853.66 cr post March quarter results
Shares of SBI Friday gained nearly 3 per cent after the company reported a standalone net profit of Rs 838.40 crore in the fourth quarter of 2018-19 fiscal. The scrip went up by 2.94 per cent to close at Rs 308.05 on the BSE. During the day, it surged 3.82 per cent to Rs 310.70. It was the top gainer among the BSE's 30-front-line scrips. At the NSE, shares rose 2.53 per cent to close at Rs 306.90. Led by the rise in the scrip, the company's market valuation jumped by Rs 7,853.66 crore to Rs 2,74,922.66 crore on the BSE. In terms of volume, 36.16 lakh shares were traded on the BSE during the day, while 6.07 crore shares changed hands on the NSE. The country's largest lender Friday reported standalone net profit of Rs 838.40 crore in January-March quarter as non-performing assets (NPAs) came down. The state-owned lender had reported a net loss of Rs 7,718.17 crore during January-March quarter of 2017-18. Income (standalone) during the March quarter rose by nearly 11 per cent to Rs ...
HT Media reports Q4 net loss of Rs 21.08 cr
HT Media Friday reported consolidated net loss of Rs 21.08 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 85.36 crore for January-March period of previous fiscal (2017-18). The company's total income fell to Rs 620.97 crore for the fourth quarter of 2018-19, from Rs 644.7 crore in the same period previous fiscal. Expenses during the period under review rose 20.36 per cent to Rs 633.84 crore as compared to Rs 526.61 crore in the year-ago period. The sluggishness in the broader advertising environment due to muted advertisement (ad) spends by large corporate advertisers, coupled with high commodity prices weighed down its performance for the quarter, HT Media and Hindustan Media Ventures Chairperson and Editorial Director Shobhana Bhartia said. "...although we did see some positive impact on the back of recent changes in pricing policy for government ads and an increase in local advertising," she added. For fiscal 2018-19, consolidated net loss ...
Sensex settles below 37,500
Key equity benchmarks logged modest losses in highly volatile session of trade. The Sensex settled below 37,500 level. Domestic stocks registered losses for eight straight trading session.
Quick Wrap: Nifty PSU Bank Index rises 2.55%
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Sensex drops 96 points as US-China trade tensions escalate
Equity benchmark indices fell for the eighth consecutive session on Friday with the Nifty settling below 11,300 level after the United States escalated a trade tariff war with China.The S & P BSE Sensex dropped 96 points down to close at 37,463 while the Nifty 50 slipped 23 points to 11,279.Tata Steel fell 6.2 per cent to close the day at Rs 486.95 while IT major HCL Tech wound up with a drop of 4.5 per cent to Rs 1,085.05.Yes Bank and IndusInd Bank slipped over 3 per cent. Indian Oil was down more than 2 per cent.However, Zee Entertainment, State Bank of India, Titan, Bharti Infratel and Indiabulls Housing Finance were in the green.Meanwhile, Asian markets were mixed as the United States hiked tariffs on more than 200 billion dollars in goods from China.The most dramatic step yet of US President Donald Trump's push to extract trade concessions deepened the conflict that has cast a shadow over financial markets and global economy.China said it will be forced to retaliate. The ...
Australia Market rebounds 0.25%
Shares of energy companies advanced on the back of jump in oil prices. Woodside Petroleum and Santos rose 1.4% and 1.2%, respectively.
SBI reports Q4 net profit of Rs 838 cr, asset quality up
Countrys largest lender State Bank of India (SBI) on Friday reported a net profit of Rs 838 crore for Q4 of the last fiscal against a loss of Rs 7,718 crore year-on-year while seeing improvement in asset quality. The bank's provisions were up on a quarterly basis.
SME sector needs strong compliance and regulations, says Brand Liaison
In order to function lawfully, the businesses should have their compliance and regulatory in place, said Rajesh Kumar, Director, Brand Liaison, India's leading compliance services provider.Rajesh Kumar, while analysing the compliances and regulations in the Small and Medium Enterprise (SME) sector at a seminar, said that there is an immediate need for the government to come up with strong compliance and regulatory policies for SME sector. He also said that there is a lack of awareness amongst people and the government should initiate awareness drive."Prior to initiating a business in the SME segment, one should know the appropriate regulations of the industry and should not ignore them. Compliances help the business flourish by making them transparent and lucrative to the investors", he explained."SME sector primarily comprises low investment business, where the proprietors feel that further investment in regulations and compliances is a waste. Hence, due to thin budgets, they ...
3-day sports business conference to begin on May 14
KiteTalks, a first of its kind three-day annual sports business conference, will be bringing together 20 international speakers of excellent repute to India from May 14.
Allahabad Bank's net loss widens to Rs 3,834.07 cr in Q4
State-run Allahabad Bank on Friday said it has posted a net loss of Rs 3,834.07 crore in the fourth quarter of the financial year 2018-19 (FY 19), widening from a net loss of Rs 3,509.63 crore in the year-ago period.
Dalmia Bharat Limited: Maintaining Financial Prudence
/ -- Dalmia Bharat Limited announced its audited consolidated financial results for the Quarter and financial year ended March 31, 2019. (Logo: https://mma.prnewswire.com/media/681292/Dalmia_Bharat_Limited_Logo.jpg) Particulars (Rs. Cr.) Q4FY19 Q4FY18 FY19 FY18 Sales Volume (MnT) 5.57 5.18 18.68 16.96 Income from Operations 2,842 2,628 9,484 8,827 EBITDA 649 580 1,942 2,036 Profit Before Tax 264 177 339 389 Profit After Tax 264 124 350 291 EBITDA (Rs./T) 1,144 1,119 1,009 1,198 Net Debt to EBITDA (x) 1.61 1.72 1.61 1.72 Cash Profit 515 454 1,512 1,607 Cash EPS (Rs.) 27 24 79 84 Key Highlights: Renaming of Amalgamated Entity Completed - The combined listed entity is now renamed as Dalmia Bharat Limited (Stockcode: NSE & BSE - DALBHARAT) Capacity Update - The final hearing at NCLT in the matter of Murli industries got completed in Feb 2019 and the order is awaited. - The capacity addition in East is on track. Receipt of Incentives Incentives received Rs. 635 Cr ...
Allahabad Bank's Q4 loss widens to Rs 3,834 cr
Allahabad Bank Friday reported widening of net loss to Rs 3,834.07 crore during the fourth quarter of 2018-19 financial year due to mounting bad loans. The public sector lender's net loss in the year-ago period stood at Rs 3,509.63 crore. However, total income during the March quarter of 2018-19 grew to Rs 4,602.86 crore from Rs 4,259.37 crore in the year-ago period, the bank said in a regulatory filing. For entire 2018-19 financial year, the bank's net loss expanded to Rs 8,457.38 crore from Rs 4,574.22 crore in the previous year. Total income during the last fiscal was down at Rs 18,806.38 crore as against Rs 19,487.51 crore a year ago. The bank's gross non-performing assets (NPAs) shot up to 17.55 per cent of gross advances by March 2019 from 15.96 per cent by March 2018. Net NPAs, however, were down at 5.22 per cent from 8.04 per cent. In value terms, gross NPAs stood at Rs 28,704.78 crore by end of the last fiscal as against Rs 26,562.79 crore by 2017-18. Net bad loans were worth
HCL Tech shares drop 4.5 pc post Q4 results
Shares of HCL Technologies fell 4.5 per cent Friday despite the company posting a 14.3 per cent rise in consolidated net profit for the March 2019 quarter. The scrip declined 4.07 per cent to close at Rs 1,086.05 on the BSE. Intra-day, it dropped 5 per cent to Rs 1,074.45. On the NSE, shares plunged 4.53 per cent to close at Rs 1,085.05. The company's market valuation declined by Rs 6,245.33 crore to Rs 1,47,298.67 crore on the BSE. On the traded volume front, 2.07 lakh shares changed hands on the BSE and over 77 lakh shares on the NSE. The results were announced after trading hours on Thursday. "HCL Tech Q4 FY19 results were a mixed bag with revenue beat negated by EBIT (earnings before interest and taxes) margin miss," as per a report by Centrum Broking Research. The IT services major posted a 14.3 per cent rise in consolidated net profit at Rs 2,550 crore for the March 2019 quarter and set an 'aspirational' annual revenue target of more than USD 10 billion (about Rs 70,258 crore) ..
Iffco elects Balvinder Singh Nakai as Chairman; Dileep Sanghani as Vice Chairman
Cooperative major Iffco Friday elected Balvinder Singh Nakai as its Chairman and Dileep Sanghani as Vice Chairman. The election was held at the 48th Annual General Body meeting of the Indian farmers fertiliser Cooperative (Iffco) here. The election for 21 directors was also held after the meeting. These 21 directors voted for the position of Chairman and Vice Chairman of Iffco, a statement said. Balvinder Singh Nakai is a farmer - co-operator - who has been deeply involved in providing strength to Indian cooperative movement for the last three decades. He is currently Chairman of Malwa Fruit and Vegetable Cooperative Marketing-cum-Procurement Society Limited. He has earlier served as Vice Chairman of Iffco for two terms. Dileep Sanghani is Chairman of Gujarat State Cooperative Marketing Federation Limited. Iffco has five fertiliser plants and its turnover stood at Rs 27,852 crore last fiscal.
Dilip Buildcon Q4 profit at Rs 219.9 cr
Road construction firm Dilip Buildcon Ltd Friday reported a marginal rise of 1.1 per cent in standalone profit at Rs 219.91 crore for the quarter ended March 31, 2019. The company had posted a standalone profit of Rs 217.35 crore in the year-ago period, Dilip Buildcon said in a filing to the BSE. The standalone total income during January-March quarter increased to Rs 2,590.01 crore from Rs 2,561.96 crore in the corresponding quarter a year ago. Bhopal-based Dilip Buildcon is a full service infrastructure company with construction capabilities in roads and bridges, mining, water sanitation, sewage, dams, irrigation, industrial, commercial and residential buildings.
Cyclone Fani: Dharmendra Pradhan holds review meeting at Bhubaneswar IOCL headquarter
Days after cyclone Fani wreaked havoc in parts of Odisha, Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Friday held a review meeting at the Indian Oil Corporation Ltd (IOCL) headquarters here.The meeting comes two days after IOCL donated Rs 5 crore for restoration of Jagannath temple."Cyclone Fani badly hit three coastal districts including Puri, Khurda and Cuttack. There were 234 petrol pumps in all three districts and now 232 of them are functioning. 100 per cent normalcy is expected within a week," Pradhan told media here."To fulfil the necessity, eight mobile diesel vans have been provided and will work as petrol pump in several locations. LPG cylinders are sufficient to provide consumers as per need. There is a need for state government's corporation in selling kerosene," he added.Nearly 6 lakh houses were damaged after the 'extremely severe cyclonic storm' Fani hit Odisha coast in Puri district on May 3. At least 41 people lost their lives and around 1.48 ...
RICS sets up Leadership Forum on Real Estate and Housing
RICS as a knowledge manager and the thought-leading organisation has set up a Leadership Forum on Real Estate and Housing.The idea behind the Leadership Forum is to create a collaborative and participative platform that will aid in steering and leading the dialogue on key issues related to the sector and its professionals.Forum members comprise of senior industry professionals, who are experts and leaders in their respective fields and can help provide the organisation with sound business advice and bring fresh ideas, in order for RICS to be an 'advocate of change' and address key industry issues, leverage important relationships and embed standards at the very heart of the sector.As part of this process, 'Knight Frank India' will be Knowledge Partner for the key leadership forums and a large industry conference that RICS plans to organise this year, as part of its calendar of events.These events will take place across Delhi, Mumbai and Bengaluru. The partnership with Knight Frank ...
SBI reports net profit of Rs 838 crore in Q4 FY19, NPAs decline
State Bank of India (SBI) on Friday reported standalone net profit at Rs 838 crore for the March quarter of the financial year 2018-19.The government-owned lender had posted a loss of Rs 7,718 crore in the year-ago period. SBI is the biggest creditor to Jet Airways, which defaulted on its loans and folded its operations last month as it ran out of funds.SBI's gross non-performing assets (NPAs) declined to 7.53 per cent against 8.71 per cent in the previous quarter and 10.91 per cent in the corresponding quarter.Net NPAs during the period came in at 3.01 per cent against 3.95 per cent in the previous quarter and 5.73 per cent in the year-ago quarter.Basic earnings per share stood at Rs 0.94 against Rs 4.43 in the December quarter, according to a statement.The bank has made a provision of Rs 16,502 crore during the quarter ended March 31 as compared to Rs 6,006 crore in the December 2018 quarter on a standalone basis.For the full year ended March 2019, the bank has made a provision of ..
Datamatics Global Services change in directorate
On 09 May 2019