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28% Indian ultra HNIs expect wealth creation will be easy in 2019: Survey
Around 28 per cent of ultra high net worth individuals in India are optimistic that wealth creation would be easy in 2019, more than two times of the global average of 12 per cent, according to a survey. The Attitudes Survey of ultra high net worth individuals (UHNWI) by Knight Frank found that 28 per cent of respondents in India believe that economic and political factors would be favourable for wealth creation this year, up by 3 per cent from last year. Around 36 per cent of Indian respondents think that wealth creation would be difficult in the country as opposed to the global average of 68 per cent, indicating a largely positive outlook in 2019 for India, the survey said. In the context of global markets, around 56 per cent of respondents from India said it would be more difficult to create and protect wealth due to global factors in 2019 as opposed to 62 per cent of global respondents, the property consultancy major said. The survey added that 56 per cent of Indian respondents ..
Telecom sector may revive after a year: Jefferies
The Indian telecom sector will require one more year for complete revival, according to a Jefferies report on Wednesday.
Government to ensure adequate supply of crude oil: Ministry of Petroleum
Indian refineries fully prepared to meet national demand for petroleum products
Indiabulls Real Estate consolidated net profit declines 95.02% in the March 2019 quarter
Sales decline 43.15% to Rs 1821.55 crore
Tata Elxsi standalone net profit rises 1.42% in the March 2019 quarter
Sales rise 7.92% to Rs 405.10 crore
UltraTech Cement consolidated net profit rises 131.51% in the March 2019 quarter
Sales rise 17.38% to Rs 10905.15 crore
Muthoot Capital Services standalone net profit declines 14.73% in the March 2019 quarter
Sales rise 14.99% to Rs 136.44 crore
Hexaware Technologies consolidated net profit rises 1.97% in the March 2019 quarter
Sales rise 20.50% to Rs 1264.02 crore
Industry yet to tap potential of technical textiles sector
There is great potential for the technical textiles sector but the industry was yet to tap it, Textile Secretary Raghavendra Singh said Wednesday. The Ministry of Textiles has prepared two reports on technical textiles, to tap the potential and also how to utilise it, he said addressing the one-day 'National Conclave on Technical Textiles' here. Another major need was skilling the people in the sector, Singh said. DRDO Life Sciences Director General Ajay Kumar Singh said there was also tremendous potential for technical textile in defence and agriculture sectors. The conclave was organised by Indian Technical Textile Association, Southern India Mills Association and Indian Texpreneurs Federation, in which nearly 200 delegates participated. Technical textiles has been identified as the thrust area for an exponential growth by the Centre and also by all the state governments considering its potential for value addition, exports, domestic demand. According to the ...
RailYatri plans 2,000 buses on its platform in 2 years
Online travel portal RailYatri plans to have 2,000 buses on its platform in the next two years as it looks to expand services to various destinations across the country, a senior official said. Currently, RailYatri operates 25 buses under its brand name in the country's northern region and is planning to start operations in southern region in about a week with 10 buses. "Industry needs a Pan-India brand which can aggregate and standardise the current buses. We expect to have over 2,000 bus opportunity for RailYatri in the next two years. We are expanding RailYatri Smartbus in north and soon make a foray into south," RailYatri co-founder and Chief Executive Officer Manish Rathi told PTI. He said there are more than half a million buses being run by small, medium and large operators, out of which, only handful operate over 50-bus fleet. RailYatri started the service between Delhi and Lucknow and now has extended it to Kanpur, Amritsar, Jalandhar, Ludhiana, Jaipur and Manali, and will ...
RBI To Inject Durable Liquidity Through OMO Purchase Auctions
Based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, the Reserve Bank Of India (RBI) has decided to conduct purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 250 billion in May 2019 through two auctions of Rs125 billion each. The first auction of Rs125 billion will be conducted on May 02, 2019. The date of the next auction and the Government securities to be purchased in that auction would be communicated in due course. The OMO amount stated above is indicative and RBI retains the flexibility to change it, depending on the evolving liquidity and market conditions.
UltraTech Cement shares jump 5.5 pc post Q4 results
Shares of UltraTech Cement jumped 5.5 per cent Wednesday after the company reported a consolidated net profit of Rs 1,014.19 crore for the fourth quarter ended March 31. The scrip gained 5.51 per cent to close at Rs 4,435.45 on the BSE. During the day, it advanced 5.54 per cent to Rs 4,436.75. At the NSE, shares of the company went up by 5.56 per cent to close at Rs 4,432. The company had posted a net profit of Rs 446.13 crore in the January-March quarter a year ago, UltraTech Cement said in a BSE filing. The company's total income stood at Rs 11,031.27 crore during the quarter under review. It was Rs 9,401.39 crore in the corresponding period of the previous fiscal. UltraTech also said the results for the quarter and the financial year ended March "are not comparable with the previous period" due to merger of Binani Cements into the company, which has now been named as UltraTech Nathdwara Cements. In a separate filing, UltraTech Cement informed the BSE that its board in a meeting ...
Odisha records 71.61% polling in third phase
The voter turnout in the third phase of elections for both assembly and parliamentary constituencies in Odisha stood at an impressive 71.61 per cent.Six parliamentary constituencies went to vote on April 23 - Sambalpur, Keonjhar, Dhenkanal, Cuttack, Puri and Bhubaneswar. Keonjhar recorded the maximum polling percentage at 78.16 per cent, while capital Bhubaneswar recorded the lowest at 59.60 per cent.Sambalpur, Dhenkanal and Puri all recorded polling in excess of 70 per cent at 76.38 per cent, 74.98 per cent and 72.53 per cent, respectively. Cuttack recorded 69.65 per cent of polling.The fourth and final phase of polling in Odisha will be held on April 29. The counting of votes will begin on May 23.
Sensex rebounds 490 points to close above 39k; Nifty reclaims 11,700-mark
Snapping its three-session losing streak, benchmark BSE Sensex surged 490 points Wednesday as investors piled into finance, energy and IT stocks ahead of expiry of derivatives contracts. Index heavyweight Reliance Industries, HDFC and HDFC Bank accounted for almost half of the Sensex's gains. Markets were propelled by short covering ahead of expiry of April futures and options contracts Thursday amid positive global cues, analysts said. After starting on a positive note, indices were boosted by a burst of buying towards the fag-end. The BSE Sensex soared 489.80 points, or 1.27 per cent, to close at 39,054.68. The broader NSE Nifty climbed 150.20 points, or 1.30 per cent, to 11,726.15. In the Sensex pack, HCL Tech spurted 3.40 per cent, followed by ONGC, IndusInd Bank, Yes Bank, Bharti Airtel, HDFC, RIL, Bajaj Finance, SBI, HDFC Bank and TCS. On the other hand, Tata Motors, Hero MotoCorp, Coal India, PowerGrid, Maruti, Axis Bank and NTPC fell up to 3.33 per cent. "Despite mixed signals
Infosys positioned as Leader for Public Cloud Infrastructure Professional and Managed Services
By Gartner Inc.
SEBI bars Leela sale to Brookfield
Market regulator SEBI came down forcefully against Hotel Leelaventure, barring it from selling its four high-profile hotels and other assets to Canadian investment fund Brookfield Asset Management.
Uber Asia Pacific Head Amit Jain resigns
Uber Asia Pacific Head Amit Jain has resigned from the company after a four-year stint at the US-based ride hailing company. Jain, who was elevated to the APAC position in May last year after serving as the India head, will remain with the company till the end of May. "After four great years, Amit Jain will be leaving Uber at the end of May to spend time with his family before taking the next step in his career. Amit has been instrumental in growing our Rides business -- first in India from launch to category leadership, and more recently across the Asia Pacific region," Uber Chief Operating Officer Barney Harford said in a statement. He added that Pierre-Dimitri Gore-Coty will take responsibility for Uber's Asia Pacific Rides business in addition to his current role leading Rides teams across Europe, the Middle East and Africa. "I look forward to seeing Pierre work with our talented APAC teams to unlock opportunity markets such as Japan and South Korea, and continue our strong ...
Stocks stage dramatic recovery, Sensex up 490 points above 39,000 level
Equity benchmark indices rebounded during the second half of the trading session on Wednesday after moving in a narrow range in the early hours.The S & P BSE Sensex closed 490 points higher at 39,055 while the Nifty 50 gained 150 points to close at 11,762.Except for auto, all sectoral indices closed in the green as markets resumed fresh upward momentum with traders resorting to panic buying. However, the volumes were lacklustre.Oil companies like ONGC, Bharat Petroleum Corporation and Indian Oil gained as oil prices retreated amid signs that global markets remain adequately supplied.The other gainers were HCL Tech and IndusInd Bank.Tata Motors, however, lost 5.6 per cent. FMCG major ITC, Hero MotorCorp, Grasim and UltraTech Cement were in the negative zone.Meanwhile, Asian shares were mixed with investors remaining cautious after the United States told countries buying Iranian oil to stop purchases by May 1 or face economic sanctions.Chinese equities moved between gains and losses
Market snaps three-day losses
Key equity indices reported sharp gains, snapping three sessions of losses, helped by rally in index heavyweights Reliance Industries and HDFC twins. Auto sector pivotals declined. The Sensex settled above the psychological 39,000 level. The Nifty settled above the 11,700 mark.
Quick Wrap: Nifty Energy Index gains 1.84%, NIFTY jumps 1.30%
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