Page 485 - Business Finance
Hindustan Appliances reports standalone nil net profit/loss in the March 2019 quarter
Reported sales nil
Adarsh Plant Protect reports standalone net profit of Rs 0.01 crore in the March 2019 quarter
Sales rise 31.17% to Rs 3.24 crore
HDFC Life Insurance Company standalone net profit rises 4.95% in the March 2019 quarter
Sales rise 15.14% to Rs 10247.50 crore
Atul standalone net profit rises 8.63% in the March 2019 quarter
Sales rise 15.49% to Rs 1000.84 crore
Carborundum Universal consolidated net profit declines 5.91% in the March 2019 quarter
Sales rise 8.95% to Rs 695.58 crore
Indian Energy Exchange standalone net profit rises 20.35% in the March 2019 quarter
Sales rise 2.30% to Rs 56.45 crore
Classic Electricals reports standalone net profit of Rs 0.01 crore in the March 2019 quarter
Reported sales nil
Piramal Enterprises consolidated net profit declines 88.42% in the March 2019 quarter
Sales rise 23.02% to Rs 3679.67 crore
IEX net profit rises 20 pc to Rs 37.85 cr in March quarter
The Indian Energy Exchange (IEX) posted over 20 per cent jump in its net profit to Rs 37.85 crore in the quarter ended March 31, mainly due to higher revenues. Its net profit was Rs 31.44 crore in the corresponding quarter of 2017-18, a company statement said. According to the statement, the company's total income rose to Rs 67.83 crore in the fourth quarter, from Rs 62.86 crore a year ago. The firm's net profit in the entire fiscal ended on March 31 also rose to Rs 165.03 crore, compared with Rs 131.68 crore in the previous fiscal. Total income in 2018-19 also rose to Rs 294.15 crore from Rs 256.07 crore in 2017-18. The IEX is a power exchange offering participants an automated platform to trade in electricity, renewable energy certificates and energy saving certificates.
Crypto currency is 'ponzi scheme', should be banned in India: Govt official
Crypto currency is a "ponzi scheme" and should be banned to protect the interest of investors, a government official said Friday. Amid continuing debates about crypto currencies such as Bitcoins, the Investor Education and Protection Fund (IEPF) Authority, which comes under the corporate affairs ministry, is in favour of banning trade in such currencies. Crypto currencies are based on blockchain technology and there are concerns about its viability in the long-term and risk to investors, especially considering steep fluctuations in the prices. These are digital units in which encryption techniques are used for trading and these currencies operate independently of a central bank. "When it comes to investor protection, the IEPFA has to take a stand against certain things. Against ponzi schemes, we are taking a stand. "We think that crypto currency is a ponzi scheme and it should be banned," IEPFA CEO Anurag Agarwal said. Emphasising that it is the view of the IEPFA, Agarwal, also a ...
Hindalco sells Kollur plant to Mundhra Alufoil
Hindalco Industries Friday said it has sold its Kollur plant in Telangana to Mundhra Alufoil. Kollur plant is primarily in the business of manufacturing and sales of aluminum foils. "The company has sold its business undertaking at Kollur, Telangana on slump sale basis to Mundhra Alufoil through a Business Transfer Agreement dated April 26, 2019," Hindalco Industries said in a filing to BSE The Kollur plant is not in operation since March 2016, and the transaction will not have an impact on the financials of the company, it said. Hindalco focuses on aluminium downstream with presence across rolled products, extrusions, foil and packaging segments. The company's rolled products plants are located at Hirakud in Odisha, Belur near Kolkata, Mouda near Nagpur, Renukoot in Uttar Pradesh, and Taloja near Mumbai, according to the company's website. Its extrusion plants are located at Renukoot and Alupuram, Kerala, the website said.
Modi has assets worth Rs 2.51 crore
Prime Minister Narendra Modi, who filed his nomination from the Varanasi Lok Sabha constituency on Friday, has movable and immovable assets to the tune of Rs 2.51 crore.
Neogen Chemicals IPO subscribed 40.30 times on final day of bidding
The initial public offering of Neogen Chemicals Ltd was subscribed 40.30 times on the final day of bidding Friday. The Rs 132-crore initial public offering (IPO) received bids for 17,44,80,540 shares against the total issue size of 43,29,038 shares, according to NSE data till 1645 hours. The IPO was subscribed two times on the second day of bidding on Thursday. It comprises a fresh issue of up to Rs 70 crore and an offer-for-sale of up to 29,00,000 equity shares, including an anchor portion of 18,46,715 equity shares. The price range for the offer, which opened for bidding on Wednesday, has been fixed at Rs 212-215 per share. Inga Advisors Pvt Ltd and Batlivala & Karani Securities India Pvt Ltd are the book-running lead managers to the offer. Equity shares of the company are proposed to be listed on the BSE and the National Stock Exchange (NSE). Neogen Chemicals is a manufacturer of bromine-based and lithium-based specialty chemicals.
Vivo clocks 119% growth in Indian market in Q1
Chinese smartphone maker Vivo became the fastest-growing brand in India in the first quarter of 2019, clocking a massive 119% growth (year-on-year), Counterpoint Research said on Friday.
Axis Bank shares gain 3 pc post Q4 results
Axis Bank shares gained nearly 3 per cent Friday after the company reported a net profit of Rs 1,505 crore for the March quarter of 2018-19, driven by a significant decline in provisioning and higher interest income. The scrip rose 2.61 per cent to close at Rs 760.20 on the BSE. During the day, it jumped 3.25 per cent to Rs 765. Shares of the company closed at Rs 757.40, 2.23 per cent higher on the NSE. On the traded volume front, 15.26 lakh shares were traded on the BSE and over two crore shares on the NSE during the day. "Axis Bank reported strong Q4 FY'19 results, with higher-than-expected profits of Rs 15 billion," a report by Emkay Global Financial Services said. The lender announced its earnings for the March quarter post market trading hours Thursday. It reported a loss of Rs 2,188 crore in the January-March quarter of 2017-18. Gross non-performing assets (NPAs) as a percentage of loans declined to 5.26 per cent in the March quarter of 2018-19, from 6.77 per cent in the same ...
Gucci owner Kering to pay record fine: reports
The owner of Italian fashion giant Gucci is set to pay a record fine of nearly 1.5 billion euros (USD 1.7 billion) in a tax evasion case, according to media reports Friday. "Lawyers are still negotiating with the tax authorities over a few hundred million euros, but the fine that the (French luxury) Kering group is about to pay is the highest (in Italy)," the La Stampa newspaper said. "It's a cheque for nearly 1.5 billion euros," it added. It follows a probe by Milan's public prosecutor into the fashion house on suspicion of declaring several years worth of Italian sales in Switzerland, thereby saving around 1.3 billion euros in domestic tax. Kering is expected to sign an agreement on the amount due on May 2, according to the financial newspaper Il Sole 24 Ore. "At this stage, no agreement has been reached on any specific amount," the French group said.
FE Credit Cards Redefines Customer Loyalty With Vietnam's First Ever Rewards Platform That Provides An Unprecedented 10x Benefit On All Daily Spends
/ -- VPBank Finance Company Ltd. (FE CREDIT) has emerged as one of Vietnam's largest card issuers by focusing on first-time card customers. To ensure unparalleled benefits for its valued cardholders, FE CREDIT has launched a unique loyalty program 'Oi Plus+'. Unlike traditional reward programs which focus on lifestyle oriented benefits, this flagship loyalty program rewards cardholders on their everyday spends, and on top of that, it provides a market first 10X multiplier. This fresh approach to Customer Loyalty directly connects to the unique needs of category entrants. Photo - https://photos.prnasia.com/prnh/20190426/2447866-1 'Oi Plus+' provides 10X reward points on every card transaction related to daily spending like grocery, mobile recharge, utility bills, ride hailing and even for ATM cash withdrawals. On all other categories, it offers guaranteed 2X points. Also to make things simple and transparent for cardholders, these points are awarded without any qualifiers and 1 'Oi ...
Carborundum Universal posts consolidated Q4 net at Rs 61 crore
: Manufacturer of abrasives Carborundum Universal Ltd has clocked a marginal decline in its consolidated net profit at Rs 61 crore for the fourth quarter ending March 31, 2019 compared to Rs 62.90 crore during the corresponding period last year. The city-based Murugappa Group company had posted a consolidated net profit for the year ending March 31, 2019 to Rs 247.60 crore from Rs 219.59 crore registered last fiscal, according to a NSE filing. The consolidated total income for the January-March 2019 quarter grew to Rs 703.57 crore from Rs 654.09 crore during the corresponding period last year. For the year ending March 31, the consolidated total income of the company went upto Rs 2,716.20 crore from Rs 2,418.09 crore a year ago. The Board of Directors, which met Friday, recommended a final dividend of Rs 1.25 per share on a face value of Re one per share. Shares ended at Rs 369.95 a piece up by 0.49 per cent over the previous close in NSE.
Quick Wrap: Nifty Metal Index rises 1.86%
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Tata Steel shares zoom over 7% after Q4 results
Shares of Tata Steel jumped over 7 per cent Friday after the company's consolidated income rose in the March quarter. The scrip advanced 6.67 per cent to close at Rs 545 on the BSE. During the day, it zoomed 7.26 per cent to Rs 548. At the NSE, shares climbed 7.18 per cent to close at Rs 547.45. The scrip was the biggest gainer among the front-lines on both the key indices during the day. In terms of volume, 19.74 lakh shares were traded on the BSE during the day, while over three crore shares were traded on the NSE. The company's market valuation rose by Rs 933.49 crore to Rs 62,451.49 crore on the BSE. "Tata Steel's January-March 2019 EBITDA of Rs 75.1 billion (up 16 per cent YoY) surpassed consensus driven by Tata Steel Europe," Edelweiss Research said in a report. The company announced its January-March earnings post market hours Thursday. Its consolidated income rose to Rs 42,913.73 crore in the reporting quarter from Rs 33,983.74 crore a year ago. However, it reported a sharp ...