Page 507 - Business Finance

Indiabulls Integrated Services consolidated net profit rises 61.50% in the March 2019 quarter

Sales decline 50.78% to Rs 50.36 crore

ICICI Securities consolidated net profit declines 19.55% in the March 2019 quarter

Sales decline 20.06% to Rs 408.10 crore

SORIL Infra Resources consolidated net profit declines 47.53% in the March 2019 quarter

Sales decline 8.00% to Rs 45.57 crore

Sasken Technologies consolidated net profit rises 5.66% in the March 2019 quarter

Sales rise 5.28% to Rs 135.54 crore

Nucleus Software Exports consolidated net profit declines 1.04% in the March 2019 quarter

Sales rise 14.38% to Rs 127.00 crore

Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.

ACC will be watched after Q1 results

On a consolidated basis, ACC's net profit rose 38.20% to Rs 345.99 crore on 8.23% increase in net sales to Rs 3,849.63 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 23 April 2019.

Gambhir among Delhi's richest Lok Sabha candidates

With an annual income of over Rs 12 crore, cricketer-turned-politican Gautam Gambhir is among the richest of all the candidates in fray for the Lok Sabha election in Delhi.

Egypt referendum extending Sisi rule passed with 88.83 pc of vote: election board

Egyptians have voted overwhelmingly in favour of a referendum on proposed constitutional amendments aimed at extending the rule of President Abdel Fattah al-Sisi, the electoral board said Tuesday. National Election Authority head Lashin Ibrahim told a Cairo press conference that 88.83 per cent voted "yes" for changes that could keep Sisi in power until 2030, with 11.17 per cent voting "no". With almost 27 million votes cast out of an eligible base of 61 million voters, the turnout rate was 44.33 per cent, he added.

70% Indian mothers not influenced by political gimmicks, concerned over education, safety: study

About 70 per cent Indian mothers are not influenced by political gimmickry during elections and consider education and woman's safety as big issues of concern, according to a new study. The study carried out by Momspresso, a multilingual content platform for mothers, surveyed 1,317 mothers across India with a variation of -- working (36.9 per cent) and homemaker (66.1 per cent). The study finds that 70 per cent of Indian moms are not influenced by political gimmicks. "About 70 per cent of Indian moms are worried about their safety in the country. While 22 per cent of the metro cities moms are influenced by the media, 28 per cent of non-metro moms are influenced by their friends and family while voting," the study said. The study said over 80 per cent Indian mothers seek more schools for children, 84 per cent want more day-cares in all major companies or in big office areas of the cities. Inflation is a growing concern for nine out of 10 working moms, the study finds. "All surveyed ...

Softbank may invest in Jio as Mukesh Ambani deleverages business

Japan's Softbank is reportedly looking to make a USD 2-3 billion investment in India's fastest-growing telecom firm Reliance Jio as billionaire Mukesh Ambani looks to deleverage business by selling stakes. This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25 per cent stake in Reliance Industries' refining and petrochemical business for USD 10-15 billion. "Softbank has long been seen as a potential investor in Jio," JPMorgan said in a research report."For the past 2 years, our conversations with investors have highlighted expectations of Softbank investing in Jio and hence the news flow is not surprising." It, however, remains to be seen how much money does Softbank actually put in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity. It was reported that SoftBank's Vision fund is currently undertaking due diligence to buy a stake in Jio Infocomm, which in September 2016 launched pure play fourth-generation or ..

Twitter now boasts 330 million monthly active users amidst 'healthy platform' plans

Twitter's Q1 2019 earnings report is here and it seems the company's attempts at making it a healthier conversation platform are paying off.Twitter recorded average monetizable daily active usage (mDAU) for the quarter at 134 million, up 11 per cent year-over-year. The average monthly active users (MAU) in Q1 were recorded at 330 million, an increase of 9 million quarter-over-quarter, Twitter said in its report.In terms of profitability, Twitter exceeded expectations with an operating income of USD 94 million and a margin of 12 per cent. The revenue went up 18 per cent, with a particular response in the US.Twitter said that ensuring and maintaining the platform's health remains the top priority for Q2, 2019. The aim remains to provide users with credible information and make Twitter a safe platform to engage in conversations.

Pak Army undergoes rejig

Five Lieutenant Generals in the Pakistan Army were reshuffled on Tuesday.In an official statement, the Inter-Services Public Relations (ISPR) said Lieutenant General Faiz Hameed was appointed Adjutant General of Pakistan Army at the General Headquarters (GHQ), while Lieutenant General Azhar Abbas was appointed Director General of Joint Staff.Lieutenant General Nauman Mahmood was appointed Inspector General, Communications and IT (IG-C & IT), while Lieutenant General Adnan was named Commander, Bahawalpur Corps, the statement mentioned.It also said Lieutenant General Sahir Shamshad Mirza will continue as Vice Chief of General Staff.Last week, ISPR had announced that Lieutenant General Javed Mahmood Bukhari, a three-star officer of the Pakistan Army, was appointed Commander Bahawalpur Corps.It was stated that General Bukhari was previously posted as Quarter Master General at the General Headquarters. He had replaced Lieutenant General Sher Afgun in Bahawalpur Corps, as the latter was

Twitter still struggling to grow, says monthly report

Despite the addition of new users this year, Twitter, in its monthly report, has said the company is still lagging behind its estimated figure of users.With the addition of new accounts this year, Twitter witnessed a small win. The rise in the accounts saw the company growing to 330 million users as compared to 321 million users last quarter. This, however, is still behind their estimated numbers of 336 million in the same quarter last year.After the company faced a huge loss, it decided last quarter that it would stop disclosing its monthly user count, with today's report being the last.Instead of sharing their monthly user figures, Twitter said it would prefer to share their new metric: daily users. This figure appears to be growing more consistently and substantially. It's now at 134 million, up from 120 million a year ago and 126 million last quarter.On its earnings call, Twitter executives said multiple times that they are now focussing on growing this stat, rather than the ...

TGBL to acquire Dhunseri's branded tea business

Tata Global Beverages Ltd (TGBL) on Tuesday said it has entered into a non-binding term sheet to acquire the branded tea business of Dhunseri Tea & Industries Limited for an aggregate consideration of up to Rs 101 crore.

Boxer Vijender declares assets worth over Rs 8.62 crore

Ace boxer and Congress candidate from South Delhi Vijender Singh, who filed his nomination Tuesday, declared personal assets worth over Rs 8.62 crore. According to an affidavit filed by the Olympic bronze medallist, the 33-year-old has a residential property having a market value of around Rs 75 lakh in Haryana's Bhiwani. In the affidavit, the poll debutant has shown an income of Rs 45.58 lakh in the Income Tax Returns for the 2017-18 financial year, while the same was Rs 1.27 crore in 2016-17. He has jewelleries and valuables worth Rs 5 lakh and a car worth Rs 7 lakh gifted by the Haryana government, the affidavit stated. According to the affidavit, he has movable and immovable assets worth Rs 8.62 crore. The South Delhi Lok Sabha constituency has Purvanchalis and Muslims among other communities. It consists of 10 assembly constituencies - Bijwasan, Palam, Mehrauli, Chhatarpur, Deoli, Ambedkar Nagar, Sangam Vihar, Kalkaji,Tughlakabad and Badarpur.

66% voter turnout in third phase polls

The third phase of Lok Sabha polls saw a voter turnout of 66 per cent compared to 69.03 per cent in 2014 with some states such as Odisha and Goa recording lower turnouts and a few others like Bihar witnessing a higher participation.

RBI okays HDFC's proposal for holding 9.9% stake in Bandhan Bank

The scheme remains subject to approvals from the National Company Law Tribunal and the respective shareholders of Gruh Finance and Bandhan Bank

Sebi slaps Rs 30 lakh fine on Geojit Financial Services

Markets watchdog Sebi on Tuesday imposed a fine of Rs 30 lakh on Geojit Financial Services Ltd for various violations of stock broker norms. The regulator had conducted an inspection of the books of accounts and other records of the Geojit Financial Services, which was earlier known as Geojit BNP Paribas Financial Services Ltd. The inspection period was financial years 2013-14 and 2014-15. In a 50-page order, Sebi said the entity has violated various regulations, including that it had not settled accounts of its inactive clients in seven quarters during the inspection period. "... the total amount not settled during the quarter ranged from approximately Rs 1.50 crore to approximately Rs 2.59 crore and the number of such clients ranged from 1,278 to 1,962," Sebi said. According to the regulator, the entity was also not settling client accounts with balances less than Rs 1,000 in the seven quarters, where the total amount not settled during the quarter ranged from around Rs 43.87 lakh ..

Sebi slaps Rs 20 lakh fine on 3 entities for fraudulent trades

Regulator Sebi has imposed fines totalling more than Rs 20 lakh on three entities for indulging in fraudulent trades in the illiquid stock options segment on the BSE. While a fine of Rs 10.10 lakh has been imposed on Top Tech Steels Pvt Ltd, Vina Viren Ahuja and Viprit Trading Pvt Ltd have been slapped with fine of Rs 5 lakh each, according to three separate orders. The watchdog conducted a probe into trading activities in the illiquid stock options segment on the BSE from April 2014 to September 2015, after observing large-scale reversal of trades. From the trading pattern, Sebi noted that 81.38 per cent of all the trades that were executed in the segment were non-genuine. The three entities were also found to have indulged in such trades. The manipulative trades created an appearance of artificial trading volumes, Sebi said. The pattern of placing buy and sell orders in a synchronised manner within few seconds of each other, reversal of the trades within a short time on the same day