Page 437 - Business Finance
Trump renews China tariff threat, Asia stocks dip
Asian stock markets on Monday plunging after US President Donald Trump threatened to impose fresh trade tariffs worth $200 billion on Chinese goods in an attempt to force additional concessions ahead of final negotiations between Beijing and Washington to end a tit-for-tat trade war.
Yes Bank shares fall 5 pc on ratings downgrade
Shares of Yes Bank Monday fell 5 per cent after ratings downgrade. The scrip declined 4.72 per cent to Rs 167.30 on the BSE. On the NSE, shares dropped 5 per cent to Rs 167.05. 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. For Yes Bank, the agency downgraded the 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 1,506 crore in the March quarter, driven by a near ten-fold spike in provisions.
Deepak Nitrite Delivers a Superlative Performance in Q4 FY19
/ -- - Standalone Revenues at Rs. 487.8 crore vs. Rs. 399.3 crore in Q4 FY18, up by 22% - EBITDA at Rs. 110.7 crore vs. Rs. 55.4 crore in Q4 FY18, growth of 100% - Standalone PAT at Rs. 56.6 crore vs. Rs. 20.3 crore in Q4 FY18, higher by 178% - Consolidated Quarterly Turnover crosses Rs. 1,000 crore milestone in Q4 FY19 - Supported by strong performance of Phenol & Acetone plant Consolidated PBT grows 142% yoy to Rs. 268 crore in FY19 - Total Turnover for FY19 stands at Rs. 2,715 crore - Board recommends dividend of Rs. 2 per share for FY19 (100% of FV) Ranked among Fortune Next 500 and recognized among the top 25 wealth creators by Fortune Magazine, India, Deepak Nitrite (NSE: DEEPAKNTR) (BSE: 506401) is acknowledged as one of the country's fastest growing chemical companies. It has a diversified portfolio of intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas. ..
Metal and mining stocks decline
Weakness persisted on the bourses in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 305.08 points or 0.78% at 38,658.18. The Nifty 50 index was down 94.35 points or 0.81% at 11,617.90. Metal and mining stocks declined. Asian stocks dropped as trade negotiations between the US and China appeared to be on the verge of collapse.
Accelya Kale Solutions reappoints Independent Director
W.e.f. 18 July 2019
Morepen Labs becomes debt-free as profit rises by 125 pc in Q4 FY19
Pharmaceutical major Morepen Laboratories said on Monday that it has wiped out all pending debts and clocked 125 per cent rise in standalone net profit at Rs 9.2 crore in the fourth quarter of financial year 2018-19.At the same time, the total revenue increased 31 per cent at Rs 207 crore led by good growth in all business segments. The company's net profit was at Rs 4.11 crore on total revenue of Rs 158.3 crore in the corresponding quarter of previous fiscal.Significantly, Morepen Labs had peak outstanding debt of Rs 750 crore with multiple banks in 2004-05 which was restructured through strategic debt restructuring scheme of the Reserve Bank of India in 2006 with a one-time settlement amount of Rs 150 crore.Having cleared all the outstanding debt of various banks, the company now enjoys the status of a debt free company, and is now poised for next phase of growth and stability," said Chairman and Managing Director Sushil Suri adding all loans were serviced from internal cash ...
Turkish Exporters Assembly (TIM) Announces Major Meeting Event: Turkey Innovation and Entrepreneurship Week
-AsiaNet/ -- The major meeting event of innovation ecosystem "Turkey Innovation Week" which contributes to evolvement of innovation concept in Turkey, is held on 3-4 May 2019 at Istanbul by Turkish Exporters Assembly (TIM). The event has experience areas, conferences, workshops and exibihitions focusing on innovation which brings global and Turkish professionals together whom are creating difference in innovation. Rising E-Exports With Added Value of Innovation For enhancing digital transormation in exports, 13 different digitalization in export projects are planned for 2019. Starting from May 2019, digital exports would be supported by paper free exports system. With the new digital exports system, 154 exports paper work would be processed digitally and exporters would send their additional demands throughout the system. Digitalization in exports aim to shorten export processes and increase exports numbers. 2019 have been announced as "Sustainability and Innovativeness" year in ...
Volumes soar at Mphasis Ltd counter
Mphasis Ltd recorded volume of 5.01 lakh shares by 10:49 IST on BSE, a 69.81 times surge over two-week average daily volume of 7179 shares
Deepak Nitrite spurts after strong Q4 earnings
Deepak Nitrite rose 7.61% to Rs 294.30 at 10:54 IST on BSE after net profit rose 178.40% to Rs 56.57 crore on 23.65% rise in net sales to Rs 485.87 crore in Q4 March 2019 over Q4 March 2018.
Deepak Nitrite appoints additional directors
W.e.f. 03 May 2019
Buffett says Tesla can't sell insurance, Musk hits back
Tesla Founder and CEO Elon Musk could not hold his displeasure over Warren Buffett's remarks that selling insurance is not Tesla's cup of tea, leading to a couple of tweets related to the billionaire investor.
China considering cancelling trade talks with US: media reports
China is considering to cancel the high-level trade talks with the US, multiple media reports have said, hours after President Donald Trump threatened to impose more punishing tariffs on USD 200 billion worth of Chinese products. President Trump's remarks came on Sunday as the two countries locked in a longstanding trade war seemed near to striking a trade deal. A high-level Chinese delegation led by Vice Premier Liu He was scheduled to be in Washington this week to resume talks aimed at resolving the trade war that has cast gloom over the world economy. "China is considering cancelling trade talks that are to resume in Washington starting Wednesday," The Wall Street Journal reported Sunday quoting unnamed sources. "There has been widespread expectations in recent days that an accord could be reached by Friday," it said. Quoting an unnamed source, CNBC News said the Chinese Vice Premier will likely cancel the trip he had planned for himself and a 100-person delegation for the final ...
Stock markets fall on global cues as US-China trade tensions escalate
Equity benchmark indices opened lower on Monday tracking a selloff in global markets after US President Donald Trump vowed to hike tariffs on China.At the National Stock Exchange, all sectoral indices were in the red.At 10:15 am, the BSE S & P Sensex was 314 points down at 38,649 while the Nifty plunged 96 points to 11,615.Tata Motors slipped 4.5 per cent while Tata Steel, JSW Steel and Hindalco each were down over 3 per cent.Yes Bank too was down 2.9 per cent after ICRA rating agency last week downgraded the bank's tier-I and tier-II bonds besides infrastructure debt on the deterioration in the credit quality of large ticket borrowers.Companies that gained marginally were Bharat Petroleum Corporation, Indian Oil, Wipro, Tech Mahindra and Tata Consultancy Services.Meanwhile, shares in Asian markets were treading in the negative zone after Trump's threat to increase tariffs on Chinese imports cast a cloud over talks this week that was expected to finalise a trade deal.China's ...
Weak market breadth
Stocks traded with weakness in morning trade after an initial slump. At 10:16 IST, the barometer index, the S&P BSE Sensex, was down 326.14 points or 0.84% at 38,637.12. The Nifty 50 index was down 96.15 points or 0.82% at 11,616.10
Markets crash as US-China trade tension escalates
Indian markets in line with the Asian markets fell steeply over signs of escalating US-China trade tension on Monday.
Sensex cracks over 400 pts amid bloodbath in Chinese equities
The benchmark BSE Sensex cracked over 400 points Monday tracking carnage in Asian equities after US President Donald Trump threatened to hike tariffs on Chinese goods this week. In a Tweet on Sunday, Trump turned up the heat by saying he would raise import taxes on USD 200 billion in Chinese products to 25 per cent from 10 per cent on Friday. Reacting to the news, Chinese bourses sank led by Shanghai Composite Index that plunged over 5 per cent. Other indices in Tokyo and Seoul were also trading in the red. The 30-share Sensex too plummeted 453 points in early session. It, however, recovered some lost ground and was trading 321.03 points, or 0.82 per cent, lower at 38,642.23. The NSE Nifty was trading 93.95 points, or 0.80 per cent, down at 11,618.30. Top losers in early session were Tata Motors, Tata Steel, Yes Bank, Vedanta, HDFC twins, IndusInd Bank, HUL, Axis Bank, Bharti Airtel, NTPC, ICICI Bank, ONGC, Bajaj Finance, Infosys and RIL, dropping up to 4.65 per cent. Bucking negative
Jindal Steel & Power Ltd Slides 3.83%, S&P BSE Metal index Drops 2.14%
Jindal Steel & Power Ltd has lost 6.53% over last one month compared to 3.93% fall in S&P BSE Metal index and 0.56% drop in the SENSEX
Market slumps in early trade
Domestic stocks opened on a weak note on negative Asian stocks. At 9:24 IST, the barometer index, the S&P BSE Sensex, was down 381.25 points or 0.98% at 38,582.01. The Nifty 50 index was down 104.50 points or 0.89% at 11,607.75.
HUL slides after Q4 results
Hindustan Unilever fell 1.01% to Rs 1675.70 at 9:21 IST on BSE after net profit rose 13.84% to Rs 1538 crore on 8.95% rise in net sales to Rs 9809 crore in Q4 March 2019 over Q4 March 2018.