Page 415 - Business Finance
Market sees May 2014 re-run, enters replica formation
In what could be a re-run of May 2014, the Indian equity markets have entered into a 'Mirror Image' formation on the technical charts which is expected to push the benchmark NSE Nifty above the 12,500 points-mark.
MAS Financial Services standalone net profit rises 29.10% in the March 2019 quarter
Sales rise 30.73% to Rs 155.52 crore
Pranavaditya Spinning Mills reports standalone net loss of Rs 0.14 crore in the March 2019 quarter
Sales rise 11.88% to Rs 21.19 crore
Satin Creditcare Network consolidated net profit rises 48.34% in the March 2019 quarter
Sales rise 17.68% to Rs 346.80 crore
India, China officials to discuss trade related issues
Senior officials of India and China will meet here Thursday to discuss trade-related issues, particularly matters concerning the agriculture sector, an official said. The Chinese side will be headed by Li Guo, Vice Minister of the General Administration of Customs of China (GACC). From the Indian side, officials from different departments including commerce, agriculture, animal husbandry and the Agricultural and Processed Food Products Export Development Authority (APEDA) would participate in the meeting, the official added. The meeting assumes significance as India is seeking greater market access for its manufactured and agricultural products in the Chinese market to bridge the widening trade deficit. Recently, India has identified and shared with China a list of 380 products, including horticulture, textiles, chemicals and pharmaceuticals products, as their shipments hold huge export potential. Increasing exports of these products will help India narrow the widening trade deficit ..
Chotia coal block output to reach one MTPA in near term: Vedanta
Mining giant Vedanta Ltd has said that coal output from the mine located in Chhattisgarh will be increased to one million tonnes per annum as it looks to secure 90 per cent of its requirement from linkage and captive block. Bharat Aluminium (Balco), part of Anil Agarwal-led Vedanta Ltd, had bagged Chotia block during the first phase of coal mine auctions held in 2015. "Captive coal from Chotia block to be ramped up to 1.0 MTPA in near term," Vedanta said in an investor presentation. The output from the captive mine stood at 0.45 million tonnes in the fourth quarter of last fiscal, it said. Stating that 72 per cent of coal requirement by the company was secured from linkage and captive block, Vedanta Ltd said that it was targeting "to secure 90 per cent of requirement". The mine has a capacity of one million tonne per annum. Known for its high quality coal reserves, Balco had bid a price of Rs 3,025 per tonne during the auctions. Mentioning that there was a structural reduction in ...
Japan's Softbank to spend $4B to hike stake in Yahoo
Japanese telecoms company Softbank Corp. says it will spend 456.5 billion yen (USD 4 billion) to increase its stake in Yahoo Japan to nearly 45 per cent. The company forecast Wednesday that with the additional stake in Yahoo, its revenue will rise to 4.8 trillion yen ($43.6 billion) in this fiscal year. Softbank, the Japanese mobile subsidiary of Softbank Group Corp., listed its shares in December in Japan's largest-ever initial public offering, at more than 2 trillion yen ($18 billion). It how holds a 12 per cent stake in Yahoo Japan, which will become a subsidiary of Softbank Corp. with the acquisition of a 36 per cent stake in the internet company held by its parent. Softbank Corp. says it expects a 480 billion yen (USD 4.4 billion) net profit in the current fiscal year.
Balrampur Chini Mills Buyback Letter of Offer
As on Record date 18 April 2019
Indices slide amid US-China trade tensions
Domestic stocks logged sharp losses on selling pressure in index pivotals. The barometer index, the S&P BSE Sensex, lost 487.50 points or 1.27% at 37,789.13. The Nifty 50 index lost 138.45 points or 1.2% at 11,359.45. Sentiment was weak amid worries of an unsuccessful US-China trade negotiation.
Sensex plummets 487 pts to close below 38,000-mark; RIL cracks over 3 pc
Domestic equity benchmarks extended their losing streak for the sixth straight session Wednesday, with the BSE Sensex plummeting 487 points and the Nifty cracking below the 11,400 mark as US-China trade tensions weighed on global investor sentiment. The 30-share BSE index ended 487.50 points, or 1.27 per cent, lower at 37,789.13. The index hit an intra-day low of 37,743.07 and a high of 38,248.57. Similarly, the NSE Nifty sank 138.45 points, or 1,20 per cent, to settle at 11,359.45. During the day, the bourse hit a low of 11,346.95 and a high of 11,479.10. The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent. Bajaj Finance, Tata Motors, Bajaj Auto, Sun Pharma, NTPC, IndusInd Bank, Vedanta, M&M, Yes Bank and ONGC were among the other losers, shedding up to 3.22 per cent. Only Asian Paints, HCL Tech and TCS ended in the green, rising up to 0.60 per cent. According to traders, domestic equities tracked weakness in ..
Ather Energy gets FAME II nod for electric scooter Ather 450
Hero MotoCorp-backed Ather Energy said Wednesday its electric scooter Ather 450 has received regulatory compliance to qualify for subsidy under the FAME II scheme. Subsequently, the model will receive an increased subsidy of Rs 27,000 and will now be available with the new on-road reduced price of Rs 1,23,230, Ather Energy said in a statement. Earlier, the model was available for Rs 1,28,230, inclusive of a subsidy of Rs 22,000 under FAME I. Although orders for the scooter have continued in Bengaluru through April, the company said deliveries had been held off so that the new subsidy benefit could be passed on to the owners. "Consumers can expect their Ather 450s to start being delivered in the next couple of weeks, with the new on road price of Rs 1,23,230," it said. Under the government's FAME II scheme to popularise electric and hybrid vehicles, up to 10 lakh electric two-wheelers powered by new advanced technology battery of 2KWH are pegged to get subsidy of up to Rs 20,000. To ...
Satin Creditcare Q4 net profit jumps 47% to Rs 56 cr
Microfinance lender Satin Creditcare Wednesday reported a 47 per cent rise in net profit to Rs 56 crore for the fourth quarter of FY 2019. The company had posted a net profit of Rs 38 crore in the same January-March quarter of 2017-18. Revenue during the quarter rose by 19 per cent to Rs 350 crore, it said in a release. For the full financial year, the net profit of Satin Credit grew 169 per cent to Rs 201 crore, compared to Rs 75 crore in the preceding fiscal. Revenue for 2018-19 were up 40 per cent at Rs 1,448 crore. The company said it aims to achieve per state exposure of less than 20 per cent by 2020 of its assets under management (AUM). Besides, cashless collections is expected to reach 50 per cent of total collections by 2019-20, it added. "The performance for the year has been on the expected lines with healthy operations and strong financial performance. Our customer base has grown to 35.5 lakh, which is 26 per cent compared to last year and have added 168 new branches in ...
Pranavaditya Spinning Mills outcome of Board meeting
On 08 May 2019
PGHHCL Net up 8.25% at Rs 90.11 cr in Jan-Mar
Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) Wednesday reported 8.25 per cent increase in net profit at Rs 90.11 crore in the third quarter ended March 31, 2019. The company had posted a net profit of Rs 83.24 crore in the same quarter of last fiscal, PGHHCL said in a regulatory filing. Revenue from operations during the quarter under review stood at Rs 699.34 crore as against Rs 568.89 crore in the year-ago quarter, up 22.93 per cent. Commenting on the performance, PGHHCL Managing Director Madhusudan Gopalan said, "We have delivered strong double-digit growth for the third consecutive quarter this year driven by robust volume growth, category development and execution excellence." The company's "focus on raising the bar on superiority, innovation, improving productivity, and strengthening our organization and culture is delivering strong results in a competitive market environment", he added. PGHHCL said its sales growth during the third quarter was driven by brand ...
Gold prices surge by Rs 180 on firm global trend
Gold prices rose by Rs 180 to Rs 32,850 per 10 gram at the bullion market here Wednesday due to fresh buying from jewellers amid firm trend overseas, according to the All India Sarafa Association. Tracking gold, silver too gained by Rs 100 to Rs 38,220 per kg following increased offtake by industrial units and coin makers. Traders said sentiment turned bullish on the back of pick-up in buying support from local jewellers amid positive overseas trend as rising US-China trade tension boosted gold's safe-haven appeal. Globally, spot gold was trading higher at USD 1,288.20 an ounce, while silver marginally rose to USD 14.99 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 180 each to Rs 32,850 and Rs 32,680 per 10 gram, respectively. Sovereign gold held steady at Rs 26,400 per eight gram. Meanwhile, silver ready rose by Rs 100 to Rs 38,220 per kg and weekly-based delivery declined by Rs 228 to Rs 37,106 per kg. On the other hand, ..
British firm Dyson looking at introducing more products in Indian market
Enthused by the response to its products in India, British consumer tech firm Dyson is looking at developing and introducing more products in the coming years with a focus on Indian customers, a company official said. Dyson, which ventured into the Indian market last year, sees India as an important market and on Wednesday introduced three new products to strengthen its product portfolio. "Our India market is growing very well. We are developing best technologies for the Indian homes for best user experience," Dyson VP Health and Beauty Paul Dawson said. Dyson forayed into the Indian market in February 2018 and currently operates in segments such as cord free vacuum cleaner, hair care (dryers) and air purifiers. "India is one of our important market for us which needs the products which we have," Dawson said. He further added: "We are quite happy with the way the India business is growing and the way our products have been received by the Indian consumers." On being asked if the ...
Rahul promises to bring petrol, diesel under GST
Congress President Rahul Gandhi said on Wednesday that key petroleum products will be brought under the ambit of Goods and Services Tax (GST) to lower inflation if the party came to power after the Lok Sabha elections.
Siemens to cut thousands of jobs in major overhaul
German industrial equipment and technology supplier Siemens AG says net profit fell 5 per cent in the first three months of the year as the company heads into a major restructuring involving the spinoff of its oil, gas and power generation business. The company said Wednesday that net profit was 1.92 billion euros (USD 2.15 billion), down from 2.02 billion a year earlier, when earnings were boosted by 900 million euros by a share transfer. Revenue rose 4 per cent to 20.93 billion euros. The news comes after Siemens said late Tuesday it would spin off its division that makes power turbines, while cutting costs at its remaining businesses. The company said it would drop 10,400 jobs but expected to create 20,500 more through growth through 2023, leading to a net increase of 10,000.
Intimation from Adf Foods regarding transfer of shares
On 18 April 2019
Integra Capital Management reports standalone net profit of Rs 0.08 crore in the March 2019 quarter
Sales decline 45.90% to Rs 0.33 crore