Page 3920 - Business Finance
STFC to offer fuel credit to customers via HPCL outlets digitally
Shriram Transport Finance Company (STFC) today said it will offer credit for fuel refilling to customers through a digital channel in partnership with Hindustan Petroleum Corporation (HPCL). The two companies have inked a memorandum of understanding (MoU) to offer this credit-based fuel refilling service. This will enable customers to have an efficient way of purchasing auto fuels like diesel, petrol and lubricants at credit, STFC said in a statement today. STFC which offers various loan products including commercial vehicle finance and tyre loans said this credit facility is an affordable low-cost working capital solution to monitor and control fuel expenses. Fuel finance service will be a cash/card-free transaction, the company said. "STFC envisions filling the gap in providing end-to-end finance solutions to its customers. Hence, this pact with HPCL is hopeful to serve the small road transport owner (SRTO's) and first time owner (FTU's), which forms more than 70 per cent of our ...
Vedanta Ltd down for fifth straight session
The stock is quoting at Rs 270.75, down 2.24% on the day as on 13:29 IST on the NSE. Vedanta Ltd jumped 17.54% in last one year as compared to a 12.62% rally in NIFTY and a 22.94% spurt in the Nifty Metal index.
APL Apollo Tubes Ltd slips for fifth straight session
The stock is quoting at Rs 1974, down 1.22% on the day as on 13:29 IST on the NSE. APL Apollo Tubes Ltd jumped 6.82% in last one year as compared to a 12.62% rally in NIFTY and a 22.94% spurt in the Nifty Metal index.
HCL Technologies Ltd drops for fifth straight session
The stock is quoting at Rs 902.3, down 0.82% on the day as on 13:29 IST on the NSE. HCL Technologies Ltd jumped 6.82% in last one year as compared to a 12.62% rally in NIFTY and a 28.91% spurt in the Nifty IT index.
Indiabulls Housing Finance Ltd eases for fifth straight session
The stock is quoting at Rs 1144.35, down 2.86% on the day as on 13:29 IST on the NSE. Indiabulls Housing Finance Ltd jumped 10.03% in last one year as compared to a 12.62% rally in NIFTY and a 16.71% spurt in the Nifty Financial Services index.
Indian Oil Corporation Ltd down for fifth straight session
The stock is quoting at Rs 163.05, down 1.03% on the day as on 13:29 IST on the NSE. Indian Oil Corporation Ltd tumbled 25.1% in last one year as compared to a 12.62% rally in NIFTY and a 15.2% spurt in the Nifty Energy index.
China local govt firm fails to repay $629 million loans in rare default - sources
BEIJING (Reuters) - A firm controlled by a city government in China's Inner Mongolia region has failed to make interest and principal payments on nearly 4 billion yuan ($629 million) in off-balance sheet loans, two sources with direct knowledge of the matter said.
Reliance Industries Ltd slips for fifth straight session
The stock is quoting at Rs 938.85, down 0.69% on the day as on 13:29 IST on the NSE. Reliance Industries Ltd jumped 42.37% in last one year as compared to a 12.62% rally in NIFTY and a 15.2% spurt in the Nifty Energy index.
Motherson Sumi Systems Ltd drops for fifth straight session
The stock is quoting at Rs 324.7, down 1.74% on the day as on 13:29 IST on the NSE. Motherson Sumi Systems Ltd jumped 14.98% in last one year as compared to a 12.62% rally in NIFTY and a 6.05% spurt in the Nifty Auto index.
ICICI Bank Ltd down for fifth straight session
The stock is quoting at Rs 287.9, down 2.74% on the day as on 13:29 IST on the NSE. ICICI Bank Ltd jumped 3.14% in last one year as compared to a 12.62% rally in NIFTY and a 13.57% spurt in the Nifty Bank index.
Bank of Baroda slips for fifth straight session
The stock is quoting at Rs 126.9, down 2.38% on the day as on 13:29 IST on the NSE. Bank of Baroda tumbled 32.77% in last one year as compared to a 12.62% rally in NIFTY and a 13.57% spurt in the Nifty Bank index.
Federal Bank Ltd slips for fifth straight session
The stock is quoting at Rs 82.2, down 0.48% on the day as on 13:29 IST on the NSE. Federal Bank Ltd tumbled 26.84% in last one year as compared to a 12.62% rally in NIFTY and a 13.57% spurt in the Nifty Bank index.
Apple iPhone X best-selling smartphone, Xiaomi enters top 3 models
Apple iPhone X was the best-selling smartphone globally in March, followed by iPhone 8 Plus and the first-timer Xiaomi's Redmi 5A in top 3 best-selling devices, a new report said on Friday.
Indian tablet market declined 10% in Q1 2018, Lenovo leads
The tablet market in India saw 10 per cent decline in the first quarter of 2018 compared to the last quarter, with Lenovo leading the pack with a 23 per cent market share, a new report said on Friday.
Square Yards net revenue up 70% at $23 mn in FY'18
Property brokerage firm Square Yards has reported 70 per cent increase in net revenue to USD 23 million (about Rs 156 crore) for the last fiscal as it closed higher transactions in real estate and home loan businesses. Backed by Anil Ambani-led Reliance group, which invested about Rs 80 crore in November 2016, the company had posted a net revenue of USD 13.5 million in the 2016-17 fiscal. The company achieved USD 27 million gross revenue, USD 23 million net revenue, gross transactional value of USD 725 million and 12,000 transactions last fiscal, its founder and CEO Tanuj Shori said. The gross revenue in 2016-17 was USD 17 million, while the number of transaction stood at 6,000 and gross transaction value at USD 422 million. Shori said that the company is "just shy of break even" with March being EBITDA positive on a monthly basis, at the corporate level. Square Yards said it has achieved steady increase in both real estate brokerage and mortgage businesses. "We believe that tech is ..
Reliance Communications' settlement with Ericsson over dues unlikely for now: sources
MUMBAI (Reuters) - Embattled telecoms firm Reliance Communications is in talks with Ericsson to reach a settlement outside of bankruptcy court over unpaid service dues, but a deal with the Swedish gearmaker looks unlikely for now, two sources said.
Ind-Ra: Pooled Natural Gas Prices for Urea Manufacturers to Continue to Increase in Short to Medium Term
The increase in the pooled gas prices would be driven by a combination of the following events: i) a continued increase in long-term LNG prices because of the continuously rising crude oil prices ii) continued higher levels of spot natural gas prices due to a strong demand from China and the more balanced LNG demand-supply dynamics iii) an increase in demand for imported gas, coming from the five upcoming gas-based urea plants iv) continued higher growth rates in the CNG and the domestic PNG segments, leading to a greater share of domestic gas being allocated to the city gas segment than the fertiliser segment, v) further rupee depreciation, leading to higher gas cost and vi) continued lower growth in domestic gas production, leading to increased reliance on imported LNG.
Toyota expects sales to grow by 7-8% this fiscal; commences Yaris deliveries
Toyota Kirloskar Motor (TKM) expects sales to grow by around 7-8 per cent this fiscal as it marks its entry into the mid-sized sedan segment in the country with Yaris. TKM, which is a joint venture between auto major Toyota and Kirloskar Group, today started deliveries of the new model across the country. The company expects to deliver around 1,000 vehicles today itself. The manual transmission variants of the petrol powered Yaris are priced between Rs 8.75 lakh and Rs 12.85 lakh. Automatic variants are tagged between Rs 9.95 lakh and Rs 14.07 lakh (ex-showroom). "We are entering a very competitive segment with Yaris. But with a host of industry first features, we are confident of the vehicle performing well in the market," TKM Deputy Managing Director N Raja told PTI. Raja said the company is also counting on the existing around 10 lakh Toyota customers in India to drive sales for Yaris. When asked about the company's sales growth expectations during the current fiscal, Raja said: ...
Sebi to auction 18 MPS Greenery Developers properties next month
To recover investors' money, markets regulator Sebi has lined up as many as 18 properties of MPS Greenery Developers for an online auction next month at a total reserve price of over Rs 67 crore. This is in addition to the 18 properties auctioned in February and 14 assets in June last year. The Securities and Exchange Board of India (Sebi) has initiated the process for sale of assets of the company, as per an order by the Calcutta High Court. Justice Sailendra Prasad Talukdar has been appointed as the one-man committee for liquidating the assets of MPS Group of companies and repaying the investors. Subsequently, the committee directed Sebi to proceed with auction of select properties of MPS Group. SBI Capital Markets has been engaged by Sebi to assist in sale of the properties through e-auction platform on as is where is and whatever there is basis. The West Bengal-based firm gathered Rs 1,520 crore from investors through illegal collective investment schemes. In a notice issued ...
US CFTC allows NSE brokers to trade in derivatives for US customers
Leading bourse NSE today said US regulator Commodity Futures Trading Commission (CFTC) has allowed the exchange's brokers to trade in derivatives for US clients. CFTC yesterday issued a Part 30 exemptive order to National Stock Exchange (NSE) as part of its programme of regulatory deference to foreign regulatory frameworks, the bourse said in a statement. Part 30 exemptive programme provides US customers with increased access to foreign futures markets. The move will allow NSE brokers to accept US customer funds directly for trading in futures and options contracts on the exchange without the members having to register with CFTC as a futures commission merchant. The relief is based on the finding by CFTC that the local laws and regulations in India applicable to NSE members provide a comparable level of customer protection, including licensing standards, minimum financial requirements, and robust compliance programmes, the exchange noted. CFTC Chairman J Christopher Giancarlo said:"I .