Page 480 - Business Finance
Bank credit growth eased to 14.20% as on 12 April 2019
Deposits rises 10.61% as on 12 April 2019
Himachal BJP MP's nomination paper gets clean chit
In a major relief to Ram Swaroop Sharma, the BJP candidate from Mandi in Himachal Pradesh, the election office on Saturday said there is no discrepancy in his nomination papers.
Amarinder justifies seven-fold increase in income
Punjab Chief Minister Amarinder Singh on Saturday justified the seven-fold increase in his income between the years 2016-17 to 2017-18.
Persistent Systems Jan-Mar qtr net profit up 14% at Rs 84 cr
IT firm Persistent Systems Ltd Saturday reported over 14 per cent rise in its consolidated net profit to Rs 84.5 crore during the quarter ended March 31. The company had posted Rs 73.7 crore net profit during the same period a year ago. During January-March 2019, its total income rose to 860.2 crore from Rs 784.6 crore in the same quarter previous fiscal, the company said in a BSE filing. The total expenses during the said quarter stood at Rs 748.9 crore as against Rs 686.3 crore.
India working on district-based development model: Prabhu
Union minister Suresh Prabhu on Saturday said the country is working on district-based developmental model to achieve aggregate growth. For this, six districts has been selected in different parts of the country, Prabhu said while addressing a session here. The Union minister for commerce, industry and civil aviation said if the national growth was at six per cent and those of the districts was four per cent, the aggregate growth would be 10 per cent. "All put together, this will result in rise in India's GDP and to complement that, the private sector should bring in investments," Prabhu said. The industry has to bring in investment as service-led growth would not be sustainable, he said adding that the government is ready with a new industrial policy. "India needs to integrate with the global economy and there is no reason why India's exports volume should not touch USD 540 billion. This will only happen only by integrating with the global trade," Prabhu said. The ...
India's forex reserves declines by US$ 0.74 billion in the week ended 19 April
Forex reserves eases to US$ 414.1 billion as on 19 April 2019
Chola Investment posts Rs 1,186 cr net profit
The Cholamandalam Investment and Finance Company Ltd (Chola Investment) has claimed to have closed the last financial year (FY19) with a net profit of Rs 1,186 crore.
Trump to OPEC: Boost output; Brent down 3%
Global oil benchmark Brent fell nearly 3 per cent to $71 a barrel on Saturday after US President Donald Trump asked oil cartel OPEC to boost production and cool off the surging oil prices.
Trump tells OPEC to boost production, Brent down 3%
Global oil benchmark Brent fell nearly 3 per cent to $71 a barrel on Saturday after US President Donald Trump asked oil cartel OPEC to boost production and cool off the surging oil prices.
Cipla's South African arm completes acquisition of Brandmed
Out of the total upfront cash consideration payment of ZAR 65 mn, ZAR 50 mn has been paid and balance will be paid over a period of next 12 months.
Canara Bank, Canara HSBC OBC Life launch 'Webassurance'
Public sector lender Canara Bank and its life insurance partner Canara HSBC Oriental Bank of Commerce Life Insurance Saturday announced the launch of 'Webassurance'. Four life insurance products of Canara HSBC OBC Life would be made available to customers of Canara Bank, covering the key needs of child future, savings and investments, retirement planning and protection, a release issued here said. Canara Bank Managing Director and CEO R A Sankara Narayanan said, "There is a large and rapidly growing section of our customers who are digitally savvy and prefer to engage online for their banking requirements. This customer segment also likes to have control over their purchase process and look for convenient availability of products and services online". He said, with Webassurance the bank will be able to service the protection needs of its younger and net-savvy customers. "This initiative integrates together the digital capabilities of the bank and the company to provide
Swiggy delivers over 1.5 mn orders a month on cycles
Swiggy, domestic online food ordering and delivery platform, on Saturday said it delivers over 1.5 million orders every month on mechanical cycles. It has a fleet of over 1.7 lakh delivery partners in more than 120 cities.
Jaypee Infratech lenders to vote on Suraksha offer next week: Sources
Lenders of debt-ridden Jaypee Infratech will put to vote on April 30 the offer of Mumbai-based Suraksha Realty for acquiring the realty firm, sources said. A meeting of Committee of Creditors (CoC) was held on Friday to consider the revised offers of both NBCC Ltd and Suraksha group to acquire Jaypee Infratech and complete over 20,000 housing units in various projects in Noida. According to a source, the CoC decided not to consider NBCC's bid as it found the offer to be conditional and subject to approvals from various government departments. The source said that lenders will on April 30 vote on the resolution plan submitted by the Suraksha Realty-led consortium. There will be no CoC meeting as was scheduled earlier, the source added. The offer of NBCC, a public sector unit under the aegis of the Ministry of Housing and Urban Affairs, put some other conditions as well. In the meeting Friday, NBCC representatives sought some time to take approvals from different government departments,
Cholamandalam Investment fourth quarter net at Rs 291.86 cr
: Cholamandalam Investment and Finance Company Ltd has registered a marginal increase in its net profits for the fourth quarter ending March 31, 2019 to Rs 291.86 crore. The city-based Murugappa Group company had clocked net profits at Rs 285.26 crore registered year ago. For the full year ending March 31, 2019 net profits of the company surged to Rs 1,186.15 crore from Rs 918.30 crore registered last fiscal. Total income for the January-March 2019 quarter went up to Rs 1,885.34 crore from Rs 1,455.91 crore registered year ago. For the year ending March 31,2019, total income stood at Rs 6,992.64 crore as against Rs 5,479.66 crore registered year ago. During the year ending March 31, 2019, the company said the industry faced liquidity constraints due to restrict supply of market funds. The total assets under management was up by 26 per cent year on year and was at Rs 54,279 crore (as compared to Rs 42,924 crore). Aggregate disbursements for the year ending March 31, 2019
Indo-US aerospace JV to export tooling components soon
The US-Indian joint venture Carr Lane India will start shipping out aerospace tooling components to the US once it starts its operations in July, company officials said on Saturday.
Foseco India standalone net profit rises 8.83% in the March 2019 quarter
Sales decline 10.10% to Rs 84.16 crore
HDFC Asset Management Company standalone net profit rises 60.70% in the March 2019 quarter
Sales rise 3.80% to Rs 486.50 crore
Hero MotoCorp standalone net profit declines 24.51% in the March 2019 quarter
Sales decline 7.93% to Rs 7884.96 crore
Supreme Petrochem standalone net profit declines 5.37% in the March 2019 quarter
Sales decline 7.52% to Rs 817.02 crore
DIC India reports standalone net profit of Rs 5.71 crore in the March 2019 quarter
Sales rise 3.81% to Rs 198.46 crore