Page 40 - Business Finance
Board of Canara Bank approves capital raising plan for FY 2020
At meeting held on 18 June 2019
HCL Technologies celebrates its 20 year anniversary in Australia and New Zealand
HCL opened its first office in the ANZ region in Sydney and since then has been investing in new-age research and technology centres across the region. Over the years the company has made significant contributions to the Australian IT market and to the local economy touching lives across various sectors with a 1,600+ strong workforce spread across 8 locations Adelaide, Sydney, Melbourne, Brisbane, Perth and Canberra in Australia, and Auckland and Wellington in New Zealand. HCL has been delivering innovation in the areas of Digital Transformation, Design Thinking, Blockchain, Cybersecurity, Cloud Native and Artificial Intelligence to over 50 clients in ANZ, including three of the top four banks in the region. HCL has won multiple awards & engaged in strategic go-to-market partnership to deliver innovative and flexible solutions to its customer base, over these years.
OPPO becomes 3rd most trusted smartphone brand in India
Chinese smartphone player OPPO on Tuesday announced that the brand has secured third spot in the most trusted smartphone brand in India, according to a report by Mumbai-based analytics firm Trust Research Advisory (TRA).
LFW looks out for Circular Changemakers
The Lakme Fashion Week (LFW) will this year introduce 'Circular Changemakers', a programme to empower sustainability enterprises.
Cash-strapped Pakistan inks 3 loan deals worth USD 918 mn with World Bank
Pakistan on Tuesday signed three loan agreements worth a total of USD 918 million with the World Bank, Prime Minister Imran Khan's adviser on finance has said as the cash-strapped country tries to overcome a ballooning balance-of-payments crisis that threatens to cripple its economy. The amount will be used to fund three projects -- USD 400 million each on Pakistan Raises Revenue Programme and Higher Education Development in Pakistan and USD 118 million on Khyber Pakhtunkhwa Revenue Mobilisation and Resource Management Programme, Dawn news reported. Prime Minister Khan's Adviser Shaikh witnessed the signing of the three agreements between Country Director of World Bank Patchamuthu Illangovan and Economic Affairs Division Secretary Noor Ahmed, the representatives of the Higher Education Commission and Government of Khyber Pakhtunkhwa. Sheikh thanked the World Bank "for extending their continuous support to Pakistan's government in its efforts to achieve the sustainable economic ...
Jet Airways (India) Ltd leads losers in 'A' group
Jain Irrigation Systems Ltd, Reliance Infrastructure Ltd, Dewan Housing Finance Corporation Ltd and Reliance Power Ltd are among the other losers in the BSE's 'A' group today, 18 June 2019.
Ducon Infratechnologies Ltd leads losers in 'B' group
Adlabs Entertainment Ltd, IMP Powers Ltd, Karma Energy Ltd and Radaan Mediaworks (I) Ltd are among the other losers in the BSE's 'B' group today, 18 June 2019.
Jet Airways crashes on buzz of landing in bankruptcy court
Jet Airways (India) crashed 43.27% to Rs 38.75 at 14:33 IST on the BSE after the media reported that the lenders have decided to take the air carrier to the bankruptcy court to recover their dues.
Board of Trent approves preferential issue of shares to Tata Sons & considers fund raising up to Rs 600 cr
At meeting held on 18 June 2019
Hindustan Construction Company seeks shareholders approval for fund raising upto Rs 1000 cr
Powered by Capital Market - Live News
Vedanta's credit profile may weaken if Volcan draws more resources: Moody's
Moody's Investors Service Tuesday said the credit profile of Vedanta Resources Ltd could weaken if there is further flow of resources to its parent company Volcan Investments. Moody's Investors Service said in a report said that Vedanta Resources' investment in December 2018, in a structured product issued by its parent, Volcan Investments Ltd, indicates a willingness to deploy funds to its parent that, if repeated, could weaken its credit profile. "This willingness to deploy funds and Volcan's probable cash-flow shortfall by March 2020, support Moody's expectation that Volcan will likely tap on Vedanta's liquidity again when needed," it said. The USD 561 million investment by Vedanta's wholly owned subsidiary, Cairn India Holdings Limited, resulted in Moody's changing its outlook on Vedanta's ratings to negative in February. Vedanta Resources Limited currently has a Ba3 negative rating. "We assess Vedanta's credit profile on a standalone basis without influence from its parent, but ..
NAREDCO calls for boost to rental housing in upcoming budget
Realtors body NAREDCO has demanded a boost to rental housing in the upcoming budget from the government through incentives like 10-year tax holiday to real estate developers on profit earned from the business. "In view of the housing shortage in the country and the objective 'Housing for All by 2022' as also in view of the fact that all cannot afford ownership housing, we need to give a big boost to 'Rental Housing'," NAREDCO President Niranjan Hiranandani said. In its budget wish-list, NAREDCO has recommended various incentives to promote rental housing in a big way. It suggested that 10-year tax holiday be given to real estate developers on profits earned from rental housing. That apart, the association sought deduction on expenses like interest and brokerage. As customers prefer fully-furnished flats, NAREDCO said depreciation should be allowed on furniture and fixtures as well as on apartments. "High cost of houses and high property taxes lead to a low rate of return (ROR) from ...
Volumes jump at HDFC Asset Management Company Ltd counter
HDFC Asset Management Company Ltd witnessed volume of 9.9 lakh shares by 14:19 IST on NSE, a 5.64 times surge over two-week average daily volume of 1.76 lakh shares
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Board of Hindustan Construction Company approves change in directorate
At meeting held on 17 June 2019
Jet Airways hits all-time low, stock plunges over 40 pc
Shares of Jet Airways extended losses for the ninth consecutive session on Tuesday and fell over 40 per cent on the Bombay Stock Exchange (BSE) in the afternoon session.Investors said the stock has erased market cap of Rs 2,800 crore in the past six months. Besides, the stock lost 73 per cent of its value in the past seven days.At 2:30 pm, the scrip was trading 44.07 per cent lower at Rs 38.20.The development comes a day after State Bank of India (SBI)-led consortium of lenders decided to take the grounded airline to bankruptcy courts after failing to cobble together a revival plan despite working on it for over five months.The National Company Law Tribunal (NCLT) could hear insolvency petitions filed by the airline's operational creditors for recovery of dues on June 20. Reports said that two operational creditors -- Shaman Wheels and Gaggar Enterprises -- have already filed two separate insolvency pleas against the airline in the Mumbai NCLT.Last week, the National Stock Exchange ...
Pakistan, World Bank sign $918 million agreements
Pakistan and the World Bank on Tuesday signed three loan agreements worth $918 million to help support revenue mobilisation and higher education development in the country.
Maharashtra flagship scheme for MSMEs to generate 10 lakh jobs
Maharashtra government will soon launch the Chief Minister's Employment Generation Programme for Micro, Small and Medium Enterprises (MSMEs), which will create 10 lakh jobs in the next five years, a senior official said here Tuesday. The flagship programme of the Industries Department will have 30 per cent reservation for women entrepreneurs, state Development Commissioner (Industries) Dr Harshadeep Kamble told PTI. The senior IAS officer said the scheme, approved by Chief Minister Devendra Fadnavis, envisages setting up one lakh units in five years, 40 per cent of them in rural areas. Kamble said this year's target is setting up of 10,000 micro-ventures to be set up by first-generation entrepreneurs. The scheme will be implemented on the lines of the Prime Minister's Employment Generation Programme (PMEGP) with online applications and other procedures, the bureaucrat said. This scheme is for promoting entrepreneurship and to address unemployment issues among educated ...
Investors abandon Jet Airways, shares crash 52%
Jet Airways shares lost over half of its value on Tuesday following its lenders' decision to initiate bankruptcy proceedings against the grounded airline.
Star Cement spurts on buyback plan
Star Cement rose 8.69% to Rs 127 at 13:31 IST on BSE after the company said its board will meet on 21 June 2019 to consider buyback of equity shares.