Page 406 - Business Finance
Kokuyo Camlin standalone net profit declines 21.55% in the March 2019 quarter
Sales rise 2.06% to Rs 193.58 crore
International Combustion (India) standalone net profit rises 2.86% in the March 2019 quarter
Sales rise 4.91% to Rs 40.35 crore
Saregama India standalone net profit declines 24.94% in the March 2019 quarter
Sales rise 17.71% to Rs 124.03 crore
Gold Never Old - 1: For Indians gold still best security, symbol of wealth
India is not only a land of festivals but also of weddings. There were 21 auspicious wedding days in the Hindu calendar during first quarter of 2019, three times more than in the year-ago period, and the World Gold Council considers it a crucial factor that drove the demand for the yellow metal globally.
Develop robust stats system, Finance Commission urged
Amid a high voltage debate over statistical data, eminent economists in Mumbai on Thursday suggested that the Finance Commission "prioritize" the development of a robust statistical system.
Bandhan Bank to consolidate existing branch network
City-based Bandhan bank would consolidate and bring efficiency in its existing branch network which will soon touch 1000 branches, a senior official said Thursday. The bank has 986 branches as of March 2019 which was 936 last fiscal. In 1-2 months the number is expected to touch 1000. This strategy was much before RBI imposed restrictions on expansion, the official said. "Our strategy even before the restriction was that once we crossed 1000 branches, we will try and consolidate and bring efficiency into those branches before we again start the expansion," Bandhan CFO Sunil Samdani told an analysts conference. "We have the approval of 1000 plus branches today, so further branch expansion will not be as it was in the last two years as we have built enough capacity already to take care of our growth for next 2 to 3 years," he told an analysts conference. RBI has imposed some restrictions in regard to meeting certain stake dilution criteria of promoter's holding in the ...
Video OTT market in India to be among global top 10 by 2020; touch $823 mn: Study
Video OTT market in India - which primarily comprises content streaming services - is likely to be ranked among the top 10 markets globally with a market size of USD 823 million (about Rs 5,363 crore) by 2022, a ASSOCHAM-PwC joint study said Thursday. "The Indian video OTT market is at a fairly nascent stage, the video OTT market globally has entered into the growth phase of the market life cycle. With a CAGR of 22.6 per cent during the period of 20172022, the Indian video OTT market is poised to outperform the global video OTT market, which is pegged to have a CAGR of 10.1 per cent during the same period," it said. The study titled 'Video on Demand: Entertainment reimagined' further noted that by 2022, the Indian video OTT market will be amongst the top 10 markets globally with a market size of USD 823 million (Rs 5,363 crore). Video OTT (over the top) services in India include the likes of Netflix, Amazon Prime Video, YouTube etc. "The five fundamental drivers of this convergent ...
eClerx Services Ltd leads losers in 'A' group
Suzlon Energy Ltd, CG Power & Industrial Solutions Ltd, Cox & Kings Ltd and HEG Ltd are among the other losers in the BSE's 'A' group today, 09 May 2019.
Apollo Tyres Q4 net falls 66 pc on account of Rs 100-cr write-off for IL&FS
Apollo Tyres Thursday reported 66.41 per cent plunge in consolidated net profit at Rs 83.99 crore for the fourth quarter of 2018-19, hit by Rs 100 crore write-off related to IL&FS. The company has written off Rs 100 crore for the March quarter and a total of Rs 200 crore for the entire 2018-19 fiscal on account of IL&FS issue. It had posted a net profit of Rs 250.10 for the fourth quarter of 2017-18. Sales for the period under review stood at Rs 4,176.25 crore. It stood at Rs 3,982.43 crore for the same quarter a year ago, Apollo Tyres said in a statement. For 2018-19, the company reported a profit of Rs 679.84 crore, down 6.08 per cent from Rs 723.88 crore in 2017-18. Sales during the last fiscal stood at Rs 17,273.39 crore as against Rs 14,928.95 crore in 2017-18. "Considering the headwinds, we have managed a healthy volume growth across geographies for the full year, as well as, in the fourth quarter of 2018-19. The bottom line has been impacted, especially in fourth ...
BLB Ltd leads losers in 'B' group
Mangalam Seeds Ltd, Bhagyanagar Properties Ltd, Blue Blends (India) Ltd and Gravita India Ltd are among the other losers in the BSE's 'B' group today, 09 May 2019.
Lupin firms up after inking exclusive distribution agreement with Aptissen
Lupin rose 1.71% to Rs 865.65 at 14:34 IST on BSE after the company announced exclusive distribution agreement with Aptissen for Canada.
Volumes spurt at Sheela Foam Ltd counter
Sheela Foam Ltd registered volume of 2.1 lakh shares by 14:19 IST on NSE, a 9.71 fold spurt over two-week average daily volume of 21607 shares
Search for dating surpass matrimony queries in India: Google
Search for dating is growing faster than matrimony queries in India, said a report by global search engine Google on Thursday.
Emirates Airline profit dives 69 per cent in 'tough' year
Emirates Airline reported a 69 per cent drop in net profits Thursday on high fuel prices and a strong dollar in what it described as a "tough" year. The Dubai carrier posted $237 million in net profits for the financial year ending in March compared to USD 765 million in the previous year, it said in a statement. "2018-19 has been tough, and our performance was not as strong as we would have liked," the chairman and chief executive of Emirates Group, Sheikh Ahmed bin Saeed Al-Maktoum, said in a statement. "Higher oil prices and the strengthened US dollar eroded our earnings, even as competition intensified in our key markets," he said. The airline said that the strengthening of the US dollar against most of the currencies of its key markets eroded USD 156 million from profits. Its fuel bill increased by 25 per cent to USD 8.4 billion, its biggest-ever. Emirates said it transported 58.6 million passengers , almost unchanged from the previous year. The region's -- and one of the world's
ABFL offloads Mcleod Russel promoters shares in open market
Trouble mounted for B M Khaitan group's McLeod Russel India Limited as Aditya Birla Finance Limited has sold shares equivalent to 2.05 per cent of the paid up capital in the open market pledged by promoters. The lender invoked and sold 21,42,339 equity shares of Rs 5 each in the open market between April 30 and May 3, one of the promoter company -- Woodside Parks Ltd informed the bourses on Thursday. On May 7, rating of the bulk tea producer McLeod was downgraded with negative outlook. Woodpark said after such sale, we hold 23,64,462 equity shares representing 2.2636 per cent of the paid up capital of Mcleod.
Economists highlight need for reducing centre, state debt; call for new means to garner revenue
Eminent economists have highlighted the need for consolidation of debt by centre and states, suggesting that the governments look at fresh avenues to garner revenue, like mines auction, along with expenditure reduction. During their meeting with the 15th Finance Commission Wednesday, 12 economists also made a case for improving the quality of budgeting, such that governments should not budget for a low fiscal deficit, knowing fully well that it cannot be achieved. Since the terms of reference of the 15th Finance Commission says that the 2011 census on population would be used to determine the allocation of resources to India's states, instead of decades-old practice of taking 1971 census, the economists also suggested instituting an "incentive structure" in devolution taking into account that the proportion of elderly population is becoming significantly different across states. On the issue of state government debt, the economists said states are at vastly different stages of debt ...
China threatens countermeasures if US enforces fresh tariffs
China threatened to take "necessary countermeasures" if the United States increases tariffs on Chinese goods worth USD 200 billion from 10 per cent to 25 per cent from May 10, according to an official statement."China deeply regrets this, and will be forced to take necessary countermeasures if the US side puts the tariff measures into effect," Chinese state media quoted an official statement as saying. They further said that escalating trade frictions are against the interests of "the two peoples as well as people of the world."This comes as US President Donald Trump alleged that the Chinese side "broke the deal," hence inviting a fresh increase in tariffs."You see the tariffs we're doing? Because they broke the deal! The (Chinese) Vice Premier (Liu He) is flying in tomorrow, good man, but they broke the deal. They can't do that...If we don't make the deal, nothing wrong with taking in over 100 billion a year. We never did that before," Trump said during a rally on Wednesday, ...
Ministry preparing full Budget presentation in July
The Union Finance Ministry has started preparations for the presentation of the full Budget 2019-20 by a new government in July, even as the country is in the midst of the ongoing seven-phased general elections.
Metal and mining stocks decline
Stocks cut losses in mid-afternoon trade soon after hitting intraday low. At 14:21 IST, the barometer index, the S&P BSE Sensex, was down 198.79 points or 0.53% at 37,590.34. The Nifty 50 index was down 57.85 points or 0.51% at 11,301.60. Metal and mining stocks declined.
Revenue of PepsiCo's largest franchisee grows 24 pc to Rs 1,359 crore in Q1 FY19
Varun Beverages Limited (VBL), a key player in beverage industry and one of the largest franchisee of PepsiCo worldwide, said on Thursday its revenue from operations grew over 24 per cent to Rs 1,359 crore in the first quarter of 2019 (January to March) as compared to Rs 1,095 crore in the year-on period.Total sales volumes were up 12.3 per cent at 9.03 crore unit cases in Q1 2019 as compared to 8.04 crore unit cases in Q1 2018. The company follows a calendar year (January to December) for reporting results.The earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 26.5 per cent to Rs 218.4 crore from Rs 172.7 crore while profit after tax jumped 103 per cent to Rs 40 crore from Rs 19.7 crore in the same period on the back of robust volume growth."We have concluded the acquisition of franchise rights in south and west regions from PepsiCo for a national bottling, sales and distribution footprint in seven states and five union territories," said VBL Chairman .