Page 433 - Business Finance
Narendra Properties reports standalone net loss of Rs 0.25 crore in the March 2019 quarter
Reported sales nil
Escorts Finance reports standalone net profit of Rs 0.33 crore in the March 2019 quarter
Sales decline 50.00% to Rs 0.01 crore
Mahindra CIE Automotive consolidated net profit rises 15.68% in the March 2019 quarter
Sales rise 8.91% to Rs 2174.39 crore
Firstsource Solutions consolidated net profit rises 5.84% in the March 2019 quarter
Sales rise 10.66% to Rs 964.22 crore
China sending trade team to US despite Trump's threat
China on Monday said that its trade delegation is still readying to go Washington after US President Donald Trump abruptly announced to crank up tariffs from 10 per cent to 25 per cent on Chinese imports worth $200 billion.
L&T Technology Services appoints Abhishek Sinha as COO
L&T Technology Services (LTTS) Monday said it has appointed Abhishek Sinha as chief operating officer (COO). Sinha has been appointed as the COO of the company with effect from May 6, 2019, LTTS said in a regulatory filing. Prior to joining LTTS, Sinha was an executive board member and chief people and operations officer at KPIT Technologies, it added. Before joining KPIT, he had a long association with Infosys from 1993 to 2013. Sinha has completed his B-Tech in mechanical engineering from IIT-BHU. LTTS is a listed subsidiary of infrastructure major, Larsen & Toubro and focuses on engineering and R&D (ER&D) services. It has over 15,000 employees spread across 17 global design centres, 28 global sales offices and 49 innovation labs. The company, last week, had posted about 21 per cent rise in consolidated net profit to Rs 191.5 crore in the fourth quarter of 2018-19. Its revenue from operations stood at Rs 1,343.1 crore in the March 2019 quarter, up 27 per cent from ...
SIAM to hold 4th edition of Automotive HR conclave on May 10
: The Society of Indian Automobile Manufacturers would hold the fourth edition of HR Automotive Conclave here on May 10 focussing on the capabilities and skills required for the industry in future. The conference would also dwell on understanding the ways in which the ecosystem would have to come together and skills for the organisation. The one-day conclave would be held by SIAM in association with the Automotive Component Manufacturers Association of India and the Federation of Automobile Dealers' Association, a press release said. "In an era where change is driven by technology and rapidly changing people preferences, it is imperative for HR to keep pace with dynamic shifts in the landscape of Indian Automotive industry", SIAM Deputy Director General Sugato Sen said. "SIAM is working to support the young professionals to make them the leaders of tomorrow. We believe that successful mentoring relationship reinforces young HR professionals to meet the challenges and ...
ICICI Bank Q4 consolidated net profit up 2.45 pc at Rs 1,170 crore
Private sector ICICI Bank Monday posted 2.45 per cent rise in its consolidated net profit to Rs 1,170 crore in the fourth quarter of 2018-19. The bank had registered a net profit of Rs 1,142 crore in the January-March period of the preceding fiscal (2017-18). On standalone basis, its profit fell to Rs 969 crore in the March quarter, as against Rs 1,020 crore in the same period a year earlier. Total income (consolidated) rose to Rs 36,784.25 crore during the quarter, compared to Rs 33,760.07 crore in year-ago period, the bank said in a regulatory filing. The bank's asset quality improved with the gross non-performing assets (NPAs) falling to 6.70 per cent of the gross loans as on March 31, 2019 as against 8.84 per cent at March-end 2018. Net NPAs or bad loans too came down to 2.06 per cent from 4.77 per cent. Shares of the bank closed 0.11 per cent down at Rs 401.40 on the BSE.
Over 100 US cos visiting India to explore biz opportunities
Representatives of over 100 American companies are visiting India as part of the US Department of Commerce's annual trade mission programme, Trade Winds, which started Monday. Besides New Delhi, the delegation would be visiting Ahmedabad, Chennai, Kolkata, Mumbai, Bengaluru, Hyderabad, and would meet government leaders, market experts, and pre-vetted potential business partners during its eight-day stay in India. "Our goal at the US Department of Commerce is to use every available resource to ensure fair and reciprocal trade for US businesses selling their products and services all over the world," US Secretary of Commerce Wilbur Ross said. Ross is also scheduled to meet Commerce and Industry Minister Suresh Prabhu later in the day. The US Department of Commerce is hosting the 11th Trade Winds Business Forum and Mission from May 6-13. US Ambassador to India Kenneth Juster said the potential for growth in US-India trade is enormous given the size of our economies. Exports of US goods ..
Stocks tumble after Trump renews China tariff threat
Key benchmark indices dropped sharply as fresh fears of a US-China trade war spooked global stock markets. US President Donald Trump said on Sunday that the US will hike tariffs on goods imported from China, casting doubt on recent optimism that the world's two largest economies were close to a resolution to their trade battle. The Nifty settled a tad below 11,600 mark.
Quick Wrap: Nifty Media Index falls 2.18%
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Tata Chemicals shares jump nearly 9 pc after Q4 results
Shares of Tata Chemicals jumped nearly 9 per cent Monday after the company posted a 26.46 per cent jump in its consolidated net profit during the fourth quarter of 2018-19 fiscal. The scrip climbed 8.59 per cent to close at Rs 605.40 on the BSE. During the day, it zoomed 9.39 per cent to Rs 609.90. On NSE, the shares advanced 8.17 per cent to close at Rs 602. On the traded volume front, 4.56 lakh shares changed hands on the BSE during the day, and over 65 lakh shares were traded on the NSE. Tata Chemicals Friday posted a 26.46 per cent jump in its consolidated net profit at Rs 450.10 crore during the fourth quarter of 2018-19 fiscal on strong sales. The company's net profit stood at Rs 355.90 crore in the same quarter during previous fiscal. This excludes Rs 854.29 crore profit from its discontinued operations in the said period, the company said in a regulatory filing. Total income increased to Rs 2,845.26 crore on a consolidated basis during the January-March quarter of 2018-19 from
Yes Bank shares fall over 5 pc; m-cap drops by Rs 2,135 cr
Shares of Yes Bank Monday dropped by over 5 per cent, wiping out Rs 2,135.29 crore from its market valuation, after ratings downgrade. The scrip tumbled 5.30 per cent to close at Rs 166.30 on the BSE. During the day, it tanked 5.75 per cent to Rs 165.50. It was the worst hit among the 30-front-line shares. On the NSE, shares dropped 5 per cent to close at Rs 167. In terms of volume, 43.12 lakh shares of the company were traded on the BSE during the day, while over 4 crore units changed hands on the NSE. The company's market valuation fell by Rs 2,135.29 crore to Rs 38,515.71 crore on the BSE. The private sector lender had a double whammy Saturday after domestic rating agency ICRA downgraded its long-term ratings along with a negative outlook, citing a spike in its lower-rated advances and falling core capital buffers. The agency downgraded ratings on instruments totalling borrowings over Rs 33,000 crore by the lender, ICRA said. The bank had also reported its maiden loss of over Rs ...
HMSI 110-cc scooter Dio crosses 30 lakh sales milestone
Honda Motorcycle and Scooter India (HMSI) said Monday its 110-cc scooter Dio has crossed 30 lakh sales milestone. The company had launched the scooter in 2002. "With its 17 years of legacy, Dio remains fresh as ever while celebrating the spirit of youthfulness. Convenient features and stylish looks make it a perfect partner for youngsters of today, not just in India but in international markets as well," HMSI senior vice-president, sales and marketing, Yadvinder Singh Guleria said.
Peel-Works gets $5 mn in funding from Equanimity Ventures, HDFC Bank and others
Mumbai-based Peel-Works said Monday it has raised USD 5 million (around Rs 34.85 crore) from a clutch of investors led by Equanimity Ventures along with HDFC Bank. The series B funding round also saw participation from Schroder Adveq Holding AG vice-chairman and founder Bruno Raschle and existing investors Unilever Ventures, Chiratae Ventures and Inventus Capital India. "This capital, for which the term sheet was signed in October 2018, will enable Peel-Works to strengthen its retail management platform Taikee. This platform is transforming the way corner stores operate in India," Peel-Works said in a statement. Taikee is a grocery B2B e-commerce platform and is designed to help small independent shops with a data-driven inventory and replenishment platform. It enables retailers to discover brands at low prices. The platform is live in more than 16 cities with 20,000 retailers. The company will utilise these funds to expand its footprint to other geographical markets. It will also be .
Polls, weak demand dent India's April services output
Weak demand conditions eased the growth of India's service sector output during April, according to the Nikkei India Services Business Activity Index.
Dedicated bankruptcy court has rejected ArcelorMittal India's plea to set aside the Resolution Plan submitted by Royale Partners Investment Fund
The committee of creditors has approved the RPIF plan by giving 73.17 per cent votes, confirmed Mayur Ghule, Director - Royale Partners Investment Fund.The dedicated bankruptcy court has rejected ArcelorMittal India's plea to set aside the resolution plan submitted by Royale Partners Investment Fund (RPIF) for EPC Construction India (EPIL), formerly Essar Projects India. The lenders of EPC Construction India have approved RPIF's revival plans with 73 per cent voting.The local subsidiary of Luxembourg-based ArcelorMittal Group sought the National Company Law Tribunal's (NCLT) intervention to direct EPIL's lenders to re-vote on its plan and restrain the resolution professional (RP) and lenders from proceeding with implementation of RPIF's resolution. ArcelorMittal is also vying for Essar Steel."I am not inclined to interfere with the decision of the committee of creditors (CoC) in approving RPIF's resolution plan," said MK Shrawat, Presiding Officer of the Mumbai-bench of NCLT."As far ..
Hybrid cloud adoption set to reach 26% in a year
The deployment of hybrid cloud model is set to increase to 26 per cent from 18.5 per cent in a year, according to a study.
Steps to boost exports, startups part of Com Min's 100-day prog for new govt
Measures to boost exports and promote start-ups are part of the 100-day programme prepared by the Commerce and Industry Ministry for the new government, an official said. The new government is expected to assume office by the end of this month. These proposals would be presented to the new government, the official added. The ministry has proposed to set up a separate logistics department to be headed by a secretary with a view to enhancing growth of the sector, which is fundamental to boost exports, imports and overall economy. Extensive coordination among different stakeholders of the logistics sector including roads, railways, shipping, civil aviation, and states is required. Currently, there is a separate wing of logistics, headed by a special secretary in the commerce department. It has also proposed a new World Trade Organisation (WTO)-compliant export incentive scheme for goods shipments to replace the existing MEIS. At present, exporters of goods avail incentives under the ...