Page 454 - Business Finance
Container Corporation Jan-Mar net profit up 21 pc to Rs 352 cr
State-run Container Corporation of India Ltd Thursday reported 21 per cent rise in its standalone net profit at Rs 352.31 crore for the quarter ended March 31, 2019, helped by higher income. It had posted net profit of Rs 291.9 crore during the same quarter a year ago, the multimodal logistics company said in a BSE filing. The company's total income during January-March 2019 rose to Rs 1,963.11 crore from Rs 1,707.25 crore in the year-ago period. Its total expenses during the quarter were at Rs 1,479.46 crore as compared with Rs 1,341.59 crore in January-March quarter of the preceding fiscal. Besides providing inland transport by rail for containers, Container Corporation of India is also into management of ports, air cargo complexes and establishing cold chain.
India biggest recipient of funds from ADB last year
India was the biggest recipient of funds from Asian Development Bank last year and would continue to get sovereign loans in excess of USD 3 billion in 2019 as well, the bank's President Takehiko Nakao said. The multilateral funding institution committed USD 3 billion in sovereign loans to India in 2018, the highest level of assistance since sovereign operations began in the country in 1986. "We will continue to lend this kind of level (during 2019)," he said at the 52nd annual meeting of the bank here. Also, growing debt-GDP ratio is coming down and provides more space for lending, he added. He said ABD will continue to make investment in rural connectivity, urban development and skill development, among others. India received nearly 25 per cent of the total loans sanctioned last year. New commitments included USD 21.6 billion in loans, grants and investments from ADB's own resources, exceeding the target of USD 19.71 billion and up 10 per cent from 2017. The Manila-headquartered ...
Baid Leasing & Finance Co approval for scheme of arrangement
Fixes the next date of hearing on 09 May 2019
Mcleod Russel India Ltd leads losers in 'B' group
Zenith Exports Ltd, Lloyds Steels Industries Ltd, Ind Bank Housing Ltd and Gillanders Arbuthnot & Company Ltd are among the other losers in the BSE's 'B' group today, 02 May 2019.
Shell profit edges higher to $6 bn, beating expectations
Energy giant Royal Dutch Shell on Thursday said its net profit edged higher to USD 6 billion in the first quarter, with gains capped by cooler oil prices and a dip in production. Profit after tax climbed two percent compared with the first three months of 2018, the Anglo-Dutch group said in an earnings statement. Oil and gas production dipped two percent to 3.75 million barrels per day, while average crude prices were slightly lower compared with the first quarter of 2018. "Shell has made a strong start to 2019," chief executive Ben van Beurden said in the statement. "The consistent financial performance across all our businesses provides confidence in meeting our 2020 outlook," he added. After the earnings update, Shell shares jumped 2.2 per cent on London's benchmark FTSE 100 index, which was down 0.2 per cent. "Royal Dutch Shell today reported Q1 numbers that were well ahead of analysts' forecasts, with an underlying profit of USD 5.4 billion," Hargreaves Lansdown stockbrokers said
Gold demand up 7 pc to 1,053 tonnes, India's gold jewellery demand highest since 2015
Global gold demand grew to 1,053.3 tonnes in the first quarter of 2019, up by seven per cent as compared to the last corresponding period, the World Gold Council (WGC) said on Thursday.The increase was largely due to continued growth in central bank buying as well as growth in gold-backed exchange traded funds (ETFs), WGC said in its latest report on gold demand trends.India's demand for gold jewellery hit a four-year high during January to March."A lower local rupee gold price in late February and early March coincided with the traditional gold buying wedding season, lifting jewellery demand to 125.4 tonnes, a 5 per cent increase on the same period last year and the highest Q1 since 2015."This helped the overall gold demand for jewellery at global level inch nearly one per cent higher to 530.3 tonnes despite two per cent decline in China's demand for gold jewellery estimated at 184.1 tonnes, said WGC.Central banks bought 145.5 tonnes of gold in Q1, up 68 per cent as compared to the ..
Modi waived Rs 5.5 lakh cr for industrialist: Rahul
Congress President Rahul Gandhi on Thursday alleged that the Narendra Modi government has waived Rs 5.5 crore loan of the industrialists in the last five years but has not done enough for farmers, youths or traders.
MRF Q4 net profit drops 15 pc to Rs 294 cr
Tyre major MRF Thursday posted 14.91 per cent decline in its standalone net profit at Rs 293.83 crore for the fourth quarter of 2018-19 fiscal. The company had posted a net profit of Rs 345.32 crore in the year-ago period. Revenue from operations, however, rose to Rs 4,073.45 crore during the fourth quarter as compared with Rs 3,835.50 crore in the same period of 2017-18, MRF said in a regulatory filing. For the 2018-19 fiscal, the company reported a net profit of Rs 1,096.87 crore, up marginally from Rs 1,092.28 crore in 2017-18. Revenue from operations rose to Rs 15,837 crore in 2018-19 fiscal as compared with Rs 15,181.05 crore in 2017-18. The company's board recommended a final dividend of Rs 54 per share, which along with two interim dividends of Rs 3 each already paid, works out to Rs 60 per share for the year ended March, 31 2019. MRF shares were trading 0.42 per cent down at Rs 52,701 a piece on the BSE.
India's Gold Demand Spurts 5% To 159 Tonne In First Quarter
Powered by Capital Market - Live News
Mahindra & Mahindra Auto sector monthly sales
for April 2019
Volumes soar at Redington India Ltd counter
Redington India Ltd clocked volume of 9.18 lakh shares by 14:18 IST on NSE, a 11.22 times surge over two-week average daily volume of 81793 shares
Bandhan Bank Q4 net rises 68 pc at Rs 650.87 crore
Net profit of private sector Bandhan Bank during the last quarter of FY18-19 increased 68 per cent at Rs 650.87 crore as compared to Rs 388 crore the same period previous fiscal. Net profit for the whole financial year 2018-19 increased 45 per cent y-o-y at Rs 1951.50 crore as against Rs 1346 crore in the similar corresponding period, the bank said in a statement on Thursday. Net interest margin (NIM) of the bank in the current quarter stood at 10.69 per cent against 9.32 per cent in the corresponding period of the previous year. Total advances of the bank grew 38.46 per cent at Rs 44,776 crore as on March 31, 2019, as against Rs 32,339 crore as on March 31, 2018. Total deposits increased by 27.64 per cent at Rs 43,232 crore as on March 31, 2019, compared to Rs 33,869 crore as on March 31, 2018, the statement added. Gross NPAs as on March 31, 2019 stood at 2.04 per cent against 2.41 per cent as on December 31, 2018. CASA ratio of the bank at 40.75 per cent of total ...
Sensex, Nifty trade with small gains
Key equity benchmarks were trading with small gains in mid-afternoon trade. At 14:19 IST, the barometer index, the S&P BSE Sensex, was up 98.90 points or 0.25% at 39,130.45. The Nifty 50 index was up 23.50 points or 0.20% at 11,771.65.
Lead futures gain 0.35 pc on spot demand
Amid a pick-up in demand from consuming industries in the spot market, lead prices rose 0.35 per cent to Rs 130.20 per kg in futures trade on Thursday as speculators built up fresh positions. In futures trading on the Multi Commodity Exchange, lead for delivery in May contracts rose 45 paise, or 0.35 per cent, to Rs 130.20 per kg in a business turnover of 6,616 lots. Market analysts said fresh positions created by traders amid upsurge in demand from battery-makers in the spot market supported the upside in lead prices here.
Nickel strengthens 0.09 pc on spot demand
Nickel prices edged up 0.09 per cent to Rs 850 per kg in futures trade Thursday amid pick-up in demand from alloy-makers at domestic spot market. On the Multi Commodity Exchange, nickel to be delivered in May contracts was trading higher by 80 paise, or 0.09 per cent, to Rs 850 per kg with a turnover of 13,482 lots. Analysts said, expansion of positions by traders tracking pick-up in demand from alloy-makers mainly supported nickel prices here.
Investment in realty sector rises 7 pc in Jan-Mar to Rs 17,682 cr: Report
Indian real estate sector attracted investment of Rs 17,682 crore in the January-March period, highest quarterly funding since 2008, on strong inflows from foreign investors in commercial assets, according to property consultant Cushman & Wakefield. The investment was up by 7 per cent from Rs 16,528 crore in the corresponding period last year. Foreign funds investment in Indian real estate rose 81 per cent to Rs 11,338 crore in the first quarter of 2019 calendar year from Rs 6,260 crore in the year-ago period, the data showed. "Higher participation of foreign investors this quarter is a signal towards sustained interest in the country's real estate story backed by increasing transparency and friendly investment policies," Cushman & Wakefield (C&W) India Country Head & Managing Director Anshul Jain said in a statement. Office and retail segments continued to attract high investment, he said, adding that warehousing/logistics segment was also providing opportunities for .
Silver futures fall 0.68% to Rs 36,430/kg
Silver prices eased 0.68 per cent to Rs 36,430 per kg in futures trade Thursday as investors cut down their bets taking weak cues from overseas markets. Also, profit-booking at existing levels by speculators weighed on silver prices. At the Multi Commodity Exchange, silver for delivery in May contracts was trading lower by Rs 248, or 0.68 per cent, to Rs 36,430 per kg in a business turnover of 499 lots. Traders said, off-loading of positions by participants due to a weak global trend led to the fall in silver futures. Globally, silver shed 0.02 per cent to USD 14.64 an ounce in Singapore.
Copper futures shed 0.3 pc on profit-booking
Copper prices fell 0.3 per cent to Rs 434.20 per kg in futures trade Thursday as participants cut bets to book profits. Besides, subdued demand from consuming industries in the spot market weighed on the prices. On the Multi Commodity Exchange, copper for delivery in June contracts declined by Rs 1.30, or 0.3 per cent, to Rs 434.20 per kg, in a business turnover of 16,087 lots. Analysts said off-loading of positions by traders to book profits at existing levels and subdued demand at the domestic physical market weighed on copper futures.
Aluminium futures shed 0.1% on weak cues, low demand
Aluminium prices eased 0.1 per cent to Rs 147.05 per kg in futures trade Thursday as speculators were engaged in reducing their positions, tracking a weak trend in domestic market. At the Multi Commodity Exchange, aluminium for May contracts declined by 15 paise, or 0.1 per cent, to Rs 147.05 per kg in a business turnover of 1,436 lots. Traders said, tepid demand from consuming industries at domestic spot market mainly exerted pressure on prices here. On similar lines, the metal for June contracts was trading down by 45 paise, or 0.31 per cent, to Rs 146.50 per kg in 139 lots.
Bandhan Bank net profit jumps 68 pc to Rs 651 cr in March quarter
Private sector Bandhan Bank Thursday posted a jump of 68 per cent in its net profit to Rs 650.87 crore in the fourth quarter ended March, on account of healthy core income. The lender had registered a net profit of Rs 387.86 crore in the January-March quarter of the previous financial year. Its total income rose to Rs 2,220.51 crore, compared with Rs 1,553.97 crore in year ago same period, the bank said in a regulatory filing. Net interest income (Nll) for the quarter grew 45.60 per cent to Rs 1,258 crore as against Rs 864 crore in the corresponding quarter of the previous year. Non-interest income grew by 91.13 per cent to Rs 388 crore for the quarter ended March 2019, against Rs 203 crore in the corresponding quarter of the previous year. The bank witnessed spike in its gross non-performing assets (NPAs) to 2.04 per cent of the gross loans as on March 31, 2019, from 1.25 per cent by end-March 2018. However, the net NPAs or bad loans came remained flat at 0.58 per cent. Bandhan Bank .