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Vardhman Textiles consolidated net profit rises 9.60% in the March 2019 quarter

Sales rise 16.81% to Rs 1763.41 crore

Updated On : 09 May 2019 | 4:51 PM IST

Mudra loans may cross Rs 3 lakh cr in 2019-20

Total sanctions under the Pradhan Mantri Mudra Yojana (PMMY) loan scheme for micro industries are likely to cross Rs 3 lakh crore in the current fiscal, a senior Finance Ministry source said on Thursday.

Updated On : 09 May 2019 | 4:51 PM IST

Asian Paints consolidated net profit declines 1.64% in the March 2019 quarter

Sales rise 11.92% to Rs 5018.21 crore

Updated On : 09 May 2019 | 4:51 PM IST

Apollo Tyres consolidated net profit declines 66.41% in the March 2019 quarter

Sales rise 4.87% to Rs 4176.26 crore

Updated On : 09 May 2019 | 4:51 PM IST

Granules India standalone net profit rises 21.01% in the March 2019 quarter

Sales rise 18.52% to Rs 561.00 crore

Updated On : 09 May 2019 | 4:51 PM IST

Huhtamaki PPL standalone net profit rises 136.12% in the March 2019 quarter

Sales rise 13.66% to Rs 619.69 crore

Updated On : 09 May 2019 | 4:50 PM IST

Turnover in F&O segment spurts

Nifty May futures at premium

Updated On : 09 May 2019 | 4:50 PM IST

PNB Housing Q4 net profit jumps 51 pc to Rs 380 cr

PNB Housing Finance Thursday reported a 51 per cent jump in its consolidated net profit to Rs 379.77 crore for the fourth quarter ended March 2019. The company's net profit stood at Rs 251.58 crore in the corresponding quarter of 2017-18. Its total income (consolidated) during the quarter rose to Rs 2,148.19 crore, up by 31 per cent as compared with Rs 1,638.48 crore in the year-ago quarter, the company said in a regulatory filing. Net interest income (NII) registered a growth of 13 per cent to Rs 609.7 crore from Rs 540.8 crore, it said. The net interest margin for the quarter stood at 3.18 per cent, compared to 3.59 per cent a year ago. For full year, the net profit of the company grew 42 per cent to Rs 1,191.5 crore from Rs 841.2 crore in the previous financial year. PNB Housing said its board of directors recommended final dividend of Rs 9 per equity share for 2018-19. On asset quality, the gross non-performing assets (NPA) stood at 0.48 per cent of the loan assets as on March 31,

Updated On : 09 May 2019 | 4:46 PM IST

State borrowings may face pressure in coming years: economists

A mismatch between demand and supply of state development loans can affect the cost of borrowings for state governments over the next five years, eminent economists said at a crucial meeting of the 15th Finance Commission.Given the maturity profile of state loans, there can also be repayment pressure on these loans. Reaching the targets of Fiscal Responsibility and Budget Management (FRBM) Act will involve an extremely difficult adjustment path for a few states.However, it is important that the Centre and state governments as a whole consolidate their debt position, they said at the meeting on Wednesday.The economists present at the meeting were Rupa Rege Nitsure, Saugata Bhattacharya, Prachi Mishra, Samiran Chakraborty, Pranjul Bhandari, Ashu Suyash, Anjan Deb Bose, Naresh Takkar, Soumya Kanti Ghosh, Ajit Ranade, Ashima Goyal and S L Shetty.There is a need to adopt a total view on the borrowing requirements of the consolidated public sector. This should encompass off-budget ...

Updated On : 09 May 2019 | 4:45 PM IST

HDFC puts Jet Airways' office space for sale to recover Rs 414 cr

Mortgage lender HDFC has put up crisis-hit Jet Airways' office space for sale with a reserve price of Rs 245 crore, as part of efforts to recover outstanding dues. Jet Airways, which temporarily shuttered operations on April 17, owes around Rs 414 crore to HDFC. "The borrower (Jet Airways) has failed to repay the amount (Rs 414.80 crore) due to HDFC Ltd. Accordingly, HDFC Ltd has become entitled to enforce its mortgage over the immovable property," it said in a public notice. The office, spread over 52,775 square feet carpet area, in Mumbai's suburban financial centre Bandra Kurla Complex (BKC), is on the fourth floor of the building 'Jet Airways Godrej BKC'. The e-auction of the office, with a reserve price of Rs 245 crore, is scheduled for May 15, according to the public notice. The distressed airline, which had more than 120 planes in its fleet, has been grappling with financial woes. The full service carrier has defaulted on various payments, including salaries to employees. As ...

Updated On : 09 May 2019 | 4:36 PM IST

Natural gas vehicles likely to account for 50 pc of total new sales by 2030: Nomura

Natural gas vehicles (NGVs) are likely to account for 50 per cent of sales of new three- and four-wheelers in India by 2030, on the back of rapidly developing infrastructure and cost reduction due to domestic manufacturing, according to a report. Nomura Research Institute Ltd (NRI Consulting & Solutions) in its report on 'Transforming Mobility Through Natural Gas' also said the implementation of BS-VI emission norms from April 1, 2020, will increase price differential between CNG and diesel vehicles, making CNG vehicles more attractive. According to the report, a strong network of 15,000 CNG and 1,500 LNG stations by 2030 would have the potential to transform the Indian mobility scenario, with an expected 33 million natural gas vehicles as compared to 3.3 million in 2019. It said CNG infrastructure has grown rapidly in India. As many as seven states that benefited after the 10th round of CGD (city gas distribution) make up 55 per cent of the total vehicle sales in the country as ..

Updated On : 09 May 2019 | 4:36 PM IST

Australia Market rebounds 0.4%

Uncertainty over US-China trade led stocks up and down in a rocky trading session. Stocks turned green after White House Press Secretary Sarah Sanders told reporters that China had informed the administration that the country wants to make a trade deal with the United States.