Page 435 - Business Finance
CIL Nova Petrochemicals Ltd leads losers in 'B' group
Almondz Global Securities Ltd, Mohit Industries Ltd, Mangalam Seeds Ltd and Prakash Steelage Ltd are among the other losers in the BSE's 'B' group today, 06 May 2019.
Volumes soar at Deepak Nitrite Ltd counter
Deepak Nitrite Ltd clocked volume of 23.94 lakh shares by 14:19 IST on NSE, a 18.31 times surge over two-week average daily volume of 1.31 lakh shares
Firstsource Solutions Q4 net profit rises 5.8 pc to Rs 98.2 cr
BPO firm Firstsource Solutions Monday posted a 5.8 per cent rise in consolidated net profit to Rs 98.2 crore for the quarter ended March 2019. The company's net profit stood at Rs 92.8 crore in the corresponding period of the previous fiscal, Firstsource said in a statement. Its revenue from operations grew 10.6 per cent to Rs 964.2 crore in the reported quarter from Rs 871.3 crore in the corresponding period of the last year, it added. The company's board has recommended a dividend of Rs 2 per share for the financial year ended March 2019. "FY2018-19 has been a good year with growth in revenues and improved profitability. Our digital revenues are scaling up well and helping drive higher level of customer engagement and margin expansion," RP-Sanjiv Goenka Group and Firstsource Solutions Chairman Sanjiv Goenka said. Going forward, the company will continue to invest in technology and digital solutions that will empower clients to stay ahead of the curve, he added. Shares of the company
Morepen Labs Q4 net profit up 54 pc at Rs 10.49 cr
Drug firm Morepen Laboratories Monday reported a 54 per cent rise in its consolidated net profit at Rs 10.49 crore for the quarter ended March 31, 2019, as the company also cleared all its loans to become debt free. The firm had posted a net profit after minority interest of Rs 6.81 crore for the corresponding period of the previous fiscal, Morepen Laboratories said in a filing to BSE. Consolidated total revenue of the company also rose to Rs 219.74 crore for the quarter under consideration as against Rs 171.75 crore for the same period a year ago. For the fiscal year ended March this year, the company posted a net profit of Rs 28.84 crore as against Rs 29.59 crore for the previous fiscal year. Consolidated total revenue of the company stood at Rs 772.21 crore for the fiscal year closed March 2019. It was Rs 610.23 crore for the year ago fiscal year. "Having cleared all the outstanding debt of various banks, the company now enjoys the status of a debt free company and is now poised ...
China says trade envoy preparing to go to US for talks to end tariff war despite Trump's new threat
China's top trade envoy is preparing to travel to the US for crucial talks, a senior Chinese official said Monday despite President Donald Trump's surprise announcement, threatening to impose more punishing taxes on USD 200 billion worth of Chinese products due to slow progress in negotiations. The brief statement from Chinese Foreign Ministry Spokesman Geng Shuang came as media reports said China is considering to cancel the high-level trade talks with the US, leading to tumbling of shares and oil prices across the Asian markets amid worries that the two major economic giants were once again on the path of confrontation. Geng said China was "trying to get more information" following Trump's surprise announcement he might impose 25 per cent tariffs on more Chinese imports. Asked whether the top Chinese envoy, Vice Premier Liu He, would visit Washington as planned, Geng said, "a Chinese team is preparing to travel to the United States for trade talks." He did not give more details when
Weaker rise in sales drags services activity growth to seven-month low: Nikkei India Services PMI
Nikkei India Services Business Activity Index declined to 51 in April 2019
WhatsApp Pay RIP Paytm, say Twitterati
Twitterati on Monday went berserk after the news of Facebook CEO Mark Zuckerberg actively working on to launch WhatsApp Pay in India and how it can hamper Paytm's future plans spread like a wildfire.
Nifty hovering a tad above 11,600
Weakness persisted on the bourses in mid-afternoon trade as index pivotals remained gripped in selling pressure. At 14:29 IST, the barometer index, the S&P BSE Sensex, was down 348.57 points or 0.89% at 38,614.69. The Nifty 50 index was down 112.15 points or 0.96% at 11,600.10. Global shares dropped as trade negotiations between the US and China appeared to be on the verge of collapse.
Viaan Industries acquires equity stake in Avalance Tech
With a Paid Up cap of Rs 5 lakhs
Ratan Tata invests in Ola Electric Mobility to scale EV deployment in India
Ola Electric Mobility said on Monday that Chairman Emeritus of Tata Sons Ratan Tata has invested in the company as part of its series A round of funding.The company did not give further details on the quantum of investment. Tata is also an early investor in ANI Technologies, Ola's parent company.Ola Electric had raised a sum of Rs 400 crore led by early investors Tiger Global and Matrix India as part of its first round of investment. The company was initially established to enable Ola's electric mobility pilot programme in Nagpur.Bhavish Aggarwal, Co-founder and Chief Executive Officer of Ola, said: "Tata has been an inspiration and a mentor to me personally in shaping Ola's journey over the years. I am very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet."Aggarwal said Tata is a visionary who has inspired a generation of entrepreneurs. "We are privileged to have his guidance and ...
Morepen Labs net profit rises by 125 per cent in Q4 FY 2018-19
Morepen Laboratories Ltd. has reported a steep 125 per cent rise in its net profit (Standalone) at Rs 9.22 crore and 31 per cent rise in its total revenue (Standalone) at Rs 207.10 crore in fourth quarter (Q4) of the financial year 2018-19. The company's net profit was at Rs 4.11 crore on total revenue of Rs 158.34 crore in the corresponding quarter of previous fiscal.The consolidated total revenue in Q4 FY 2018-19 went up by 28 per cent at Rs 219.74 crore. Export sales revenue in Q4 FY 2018-19 was up by 51 per cent at Rs 96.41 crore and domestic sales revenue up by 13 per cent at Rs 118.84 crore. In the export market, Montelukast exports have shown outstanding growth of 114 per cent and Rosuvastatin exports have recorded growth of 110 per cent in Q4 FY 2018-19. In the domestic market, the best performance came from Loratadine with 102 per cent growth in the quarter.API sales revenue grew by 34 per cent at Rs 125.48 crore, home diagnostics sales revenue by 12 per cent at Rs 27.77 ...
Silver futures fall Rs 118 to Rs 37,273 per kg
Silver prices were trading lower by Rs 118 at Rs 37,273 per kg in futures trade Monday after speculators reduced their exposure amid a weak trend at the domestic markets. Silver contracts for delivery in July fell by Rs 118, or 0.32 per cent, to trade at Rs 37,273 per kg in a business turnover of 23,827 lots on the Multi Commodity Exchange. Similarly, the white metal for delivery in far-month September shed Rs 96, or 0.25 per cent, to Rs 37,833 per kg with a business turnover of 404 lots. In the international market, however, silver rose 0.54 per cent to USD 14.92 an ounce in Singapore.
Intimation of transmission of shares to Joint Holder in promoter category
Dated 25 March 2019
Tata Motors, TVS to offer breakdown assistance to women drivers
Tata Motors and TVS Auto Assist will launch breakdown assistance services for women drivers during late hours from next month. As per the Women Assist Program, which will roll out from June 1, the companies will cater to the urgent service requirements of a woman driver of Tata Motors passenger vehicles, between 8 pm to 5 am, on all days. Tata Motors Monday said, the program will offer quick service related solutions pertaining to accidents, rundown of battery, flat tyre, empty fuel tank issues or mechanical breakdowns. "This industry first service program reflects on Tata Motors' acknowledgement of the increasing number of women drivers and its commitment towards providing a world class after sales infrastructure to them," Tata Motors President Passenger Vehicle Business Unit Mayank Pareek said in a statement. TVS Auto Assist (TVS AA) is a part of the USD 8.5 billion TVS group. "There are more than two million women car drivers in key cities across India and we felt the need for a ...
Tejas Networks' TJ1400 Selected as a Finalist for Leading Lights Award
/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced that TJ1400, the company's latest ultra-converged broadband access/edge product family, has been shortlisted for the prestigious Leading Lights Award 2019 in the category 'Most Innovative Telecoms Product (Optical/IP/Carrier Ethernet/FTTH)'. Leading Lights is an international award program organized annually by Light Reading (an Informa business) that honours a company that has developed a potentially market-leading Optical/IP/Ethernet product. (Logo: https://mma.prnewswire.com/media/826177/Tejas_Networks_Logo.jpg ) The TJ1400 ultra-converged broadband access/edge products were commercially launched at the Mobile World Congress (MWC), Barcelona earlier this year. Based on a novel software-defined hardware architecture powered by the company's rich portfolio of 270+ FPGA IPs, TJ1400 implements multiple access technologies such as fixed wireless (LTE eNodeB upgradable to 5G), fiber broadband (GPON/NG-PON) and Ethernet, ..
China preparing US team despite Trump's tariff threat
China is still preparing to send a delegation to Washington for trade talks despite US President Donald Trump latest threat to impose fresh trade tariffs worth $200 billion on Chinese goods, Foreign Ministry spokesman Geng Shuang said here on Monday.
BookMyShow, Coca-Cola Arena sign 5-year deal
Online ticketing platform BookMyShow Monday said it has entered into a five-year partnership with the Dubai's Coca-Cola Arena -- the city's biggest multipurpose indoor arena. As the founding and preferred ticketing partner for all live entertainment experiences at the Coca-Cola Arena, BookMyShow will deliver international content while being the go-to platform for tickets to all live events at the arena across UAE, a statement said. "The landmark deal is at the core of the India-headquartered, global entertainment platform's entry into the Middle East and is the first such global arena partnership by the company," it added. No financial details of the partnership were disclosed. Ashish Hemrajani, founder and chief executive officer of BookMyShow, said Middle East is a critical yet under-served market when it comes to entertainment experiences for consumers. "The partnership with the Coca-Cola Arena in Dubai will enable us to bring the best of the world's and India's entertainment ...
Medlife acquires Bengaluru-based Myra Medicines
Health-tech platform Medlife Monday said it has acquired Bengaluru-based medicine delivery startup, Myra Medicines. Myra's acquisition will enable the company to strengthen its pharma business and accrue profits, Medlife said in a statement. The company, however, did not provide financial details of the acquisition. While Myra was earlier handling about 4,000 deliveries a day in Bengaluru alone, its services are now ready to be scaled across 22 cities this quarter, it added. Medlife Founder and CEO Tushar Kumar said, "Our acquisition of Myra Medicines will be a game changer in the delivery of quality services for access to medicines". Medlife is currently servicing over 20,000 deliveries every day across 29 states and having Myra on board will further strengthen its standing as a dependable and reliable partner for people's health, he added. "Myra was established with the vision of ensuring timely access to medicines across the country. We have implemented the model successfully in ...
Nickel futures fall 1.43 pc on weak spot cues
Nickel prices fell by 1.43 per cent to Rs 835 per kg in futures trade Monday as speculators cut down their positions, taking negative cues from spot market on muted demand from consuming industries. At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 12.10, or 1.43 per cent, to Rs 835 per kg in a business turnover of 12,775 lots. Similarly, the metal for June delivery traded lower by Rs 12.80, or 1.46 per cent, to Rs 861 per kg in 253 lots. Market analysts said offloading of positions by participants, following the fall in demand from alloy makers, influenced nickel prices at futures trade here.
Sensex, Nifty hover near day's low
Key benchmarks were trading near day's low in afternoon trade amid dismal global cues. At 13:29 IST, the barometer index, the S&P BSE Sensex, was down 318.45 points or 0.82% at 38,644.81. The Nifty 50 index was down 101.30 points or 0.86% at 11,610.95. Global shares dropped as trade negotiations between the US and China appeared to be on the verge of collapse.