Page 496 - Business Finance
Belt and Road Forum: World leaders gather in Beijing
World leaders are gathering in Beijing ahead of the second Belt and Road Forum for International Corporation scheduled to be held here, from today.The three-day forum will provide a platform to the countries participating in Belt and Road Initiative (BRI) for exchanging views and experiences on regional connectivity, policy synergy, socio-economic development and trade, and commerce.According to media reports, India, for the second consecutive time has decided to boycott the forum, which will be attended by the leaders and representatives of 37 countries.Russian President Vladimir Putin, Pakistan Prime Minister Imran Khan, and Italian Prime Minister Giuseppe Conte also are among the leaders who will attend the forum.The BRI is a development strategy adopted by the Chinese government involving infrastructure development and investments in countries in Europe, Aisa, and Africa.
Facebook hits 2.38 bn users, 500 mn on Stories
Social media giant Facebook's monthly active users (MAUs) grew 8 per cent year-over-year MAUs to reach 2.38 billion at the end of first quarter of this year while the number of people using Facebook Stories hit 500 million every day.
Jammu and Kashmir Bank Ltd rises for third straight session
Jammu and Kashmir Bank Ltd is quoting at Rs 61.05, up 1.16% on the day as on 12:54 IST on the NSE. The stock is up 7.86% in last one year as compared to a 10.7% jump in NIFTY and a 16.2% jump in the Nifty PSU Bank index.
Indiabulls Ventures Ltd spurts 2.71%, rises for third straight session
Indiabulls Ventures Ltd is quoting at Rs 312.5, up 2.71% on the day as on 12:54 IST on the NSE. The stock is down 31.47% in last one year as compared to a 10.7% gain in NIFTY and a 19.09% gain in the Nifty Financial Services index.
Reliance Industries Ltd spurts 1.28%
Reliance Industries Ltd is quoting at Rs 1407.25, up 1.28% on the day as on 12:54 IST on the NSE. The stock is up 44.28% in last one year as compared to a 10.7% spurt in NIFTY and a 18.94% spurt in the Nifty Energy index.
Wipro Ltd gains for fifth session
Wipro Ltd is quoting at Rs 293.95, up 0.31% on the day as on 12:49 IST on the NSE. The stock is up 39.31% in last one year as compared to a 10.7% gain in NIFTY and a 16.41% gain in the Nifty IT.
Market trims gains
Stocks trimmed gains in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 44.16 points or 0.11% at 39,098.84. The Nifty 50 index was up 24.60 points or 0.21% at 11,750.75. Telecom stocks saw mixed trend.
Cottonseed oil cake futures fall 0.22%
Cottonseed oil cake price fell 0.22 per cent to Rs 2,460.5 per quintal in futures trade Thursday as speculators offloaded their holdings in tune with a weak trend at the physical markets. Marketmen said, slack in demand from cattle-feed makers mainly kept pressure on cottonseed oil cake prices. At the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in May fell by Rs 5.5, or 0.22 per cent, to Rs 2,460.5 per quintal with an open interest of 88,280 lots. However, cottonseed oil cake for June rose by 5 paise, or 0.02 per cent, to Rs 2,481 per quintal with a business turnover of 27,730 open lots.
India's crude oil refinery output rises 4.4% in March 2019
Crude oil refinery output rises 3.1% in FY2019
India's crude oil production dips 6.2% in March 2019
Crude oil output falls 4.2% to 34.20 mt in FY2019
Trigyn Technologies intimates of extension of UN contract
Further the United Nations Not-To-Exceed Amount (NTE) of the Contract is revised from the existing US$ 159,450,510.43 to US$ 173,160,722.84.
MRO-TEK Realty Ltd leads gainers in 'B' group
Automotive Stampings & Assemblies Ltd, Anjani Portland Cement Ltd, STL Global Ltd and Deccan Cements Ltd are among the other gainers in the BSE's 'B' group today, 25 April 2019.
Orient Cement Ltd leads gainers in 'A' group
UltraTech Cement Ltd, Grasim Industries Ltd, JK Lakshmi Cement Ltd and Indiabulls Real Estate Ltd are among the other gainers in the BSE's 'A' group today, 25 April 2019.
Ipca Labs inks pact to acquire Ramdev Chemical for Rs 108 crore
Pharmaceuticals major Ipca Laboratories has entered into a pact to buy Maharashtra-based Ramdev Chemical for Rs 108.5 crore."The acquisition of Ramdev Chemical will help Ipca Labs to grow its API business by adding new molecules in its products basket with the possibility of forward integrating such products in its dosage formulations business for the world market," Ipca said in a statement.Ramdev Chemical is engaged in the business of manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and active pharmaceutical ingredients (APIs).Ipca Labs has entered into a share purchase agreement to acquire 100 per cent paid-up share capital of Ramdev Chemical, it informed stock exchanges in regulatory filings.Ipca is a fully-integrated Indian pharmaceutical company manufacturing over 350 formulations and 80 APIs for various therapeutic segments. It has been partnering with healthcare companies in over 120 countries and in markets across the ...
Wirecard partners RBL Bank to drive financial inclusion
Wirecard, the global innovation leader in digital financial technology, announced today an expanded partnership with RBL Bank to promote financial inclusion in India.This partnership will make digital payment and banking transactions more readily accessible to all Indian citizens, including those living in remote areas.In partnership with RBL, Wirecard will empower its retail agents, who serve as customer service representatives in various areas across the country, to enable the financially under-served to access basic payment and banking services. These include cash withdrawals and deposits as well as balance enquiries.Currently, there are nearly 5,000 agents enrolled in the program. Consumers will only need their local Aadhaar identification number - a biometric database that provides a unique identity to each Indian citizen and can be linked to a bank account - to access those services through Wirecard's retail agents. The service is available to all Indian citizens with an Aadhaar
Software AG Launches New Digital Transformation Center in Mumbai
/ -- Facility to provide cloud solutions for Fortune 1000 companies Leading German enterprise software maker, Software AG (Frankfurt MDAX: SOW) today, announced the launch of its new facility in Virar, Mumbai. Currently, housing 40 employees, the new facility will be a digital transformation center, focused on contributing to cloud innovation along with the future integration products at Software AG. (Photo: https://mma.prnewswire.com/media/877195/Software_AG_Virar.jpg) The facility was initially started by a leading integration platform as a service company, Built.io, that was recently acquired by Software AG. The new center will be one of the key business units of the organisation, as it will provide integration solutions to Fortune 1000 companies that will allow them to transform their business in to the digital age. Speaking on the launch, Vasudeva Kothamasu, Senior Vice President, Cloud R&D, Software AG, said, "We are excited with the launch of our new facility. We chose ...
RBI Says Banking Ombudsman Receives 163590 Complaints In FY18, Up 25%
The Reserve Bank of India has released the Annual Report of the Banking Ombudsman Scheme for the year 2017-18. The central bank noted in the report that 21 Offices of the Banking Ombudsman received 1,63,590 complaints in the year 2017-18 marking an increase of 24.9% over previous year. Offices of Banking Ombudsman maintained a disposal rate of 96.5% as compared to 92.0% in the previous year.
Market extends gains
Key indices extended gains in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 188.46 points or 0.48% at 39,243.14. The Nifty 50 index was up 67.05 points or 0.57% at 11,793.20.
Bharti Infratel slips after muted Q4 results
Bharti Infratel fell 2.90% to Rs 293.40 at 11:30 IST on BSE after consolidated net profit rose 0.26% to Rs 607.60 crore on 0.18% increase in net sales to Rs 1,675.80 crore in Q4 March 2019 over Q4 March 2018.
Bharti Infratel reports Q4 net profit flat at Rs 608 crore
Bharti Infratel has reported a consolidated net profit of Rs 608 crore during the fourth quarter ended March 31 as compared to Rs 606 crore in the corresponding quarter of last year.Consolidated revenue for the quarter stood at Rs 3,600 crore, down 2 per cent year-on-year, mainly due to a sharp drop in co-locations on its telecom sites amid rapid consolidation in the sector.Co-locations are points where a tower company deploys mobile telecom antennae of multiple carriers on a single structure.The company's consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) fell 4 per cent to Rs 1,534 crore while operating free cash flow rose 14 per cent to Rs 1,154 crore during the period.Between Bharti Infratel and Indus Towers which are being merged, about 20 per cent of opening co-locations were lost during the year translating to about 75,000 co-locations on an overall basis and nearly 40,000 co-locations on consolidated basis.This was mainly due to the merger of ...