Page 535 - Business Finance
Chennai Petroleum Corporation Ltd Spikes 1.8%, S&P BSE Energy index Rises 1.22%
Chennai Petroleum Corporation Ltd has lost 0.28% over last one month compared to 0.92% fall in S&P BSE Energy index and 2.65% rise in the SENSEX
Shares trade with decent gains
Key benchmark indices were trading higher in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 132.40 points or 0.34% at 39,408.04. The Nifty 50 index was up 26.50 points or 0.22% at 11,813.65.
Lenders 'reasonably hopeful' of Jet stake sale success
Hours after denying a lifeline to Jet Airways which suspended its operations for want of cash, the airline's lenders led by the State Bank of India on Thursday said they are "reasonably hopeful" that the stake sale process would succeed and determine a fair value of the enterprise.
Market may see a cautious start
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3.50 points at the opening bell.
Wipro in spotlight after announcing Q4 result, buyback plan
Wipro's consolidated net profit fell 1.07% to Rs 2483.50 crore on 1.45% rise in total income to Rs 15915.30 crore in Q4 March 2019 over Q3 December 2018. The result was announced after market hours on Tuesday, 16 April 2019.
Jet Airways: Lenders reasonably hopeful of successful bidding process for stake sale
Jet Airways lenders Thursday said they are reasonably hopeful of a successful bidding process for stake sale, a day after the cash-starved carrier suspended its operations. The announcement from the lenders came early morning ahead of market opening. "The lenders after due deliberations decided that the best way forward for the survival of Jet Airways is to get the binding bids from potential investors who have expressed EOI (Expression of Interest) and have been issued bid documents on April 16," a statement said. A consortium of 26 lenders led by State Bank of India (SBI), with 51 per cent stake in the debt trapped airline, has invited bids from potential suitors. "Lenders are reasonably hopeful that the bid process is likely to be successful in determining fair value of the enterprise in a transparent manner," it said. Banks on Wednesday rejected an immediate Rs 400 crore demand of Jet Airways compelling it to ground operations.
US stocks fall as health care shares lag
US stocks ended lower as major health care shares declined, dragging the market.
US dollar falls against major currencies
The US dollar fell against most other major currencies in the late trading on Wednesday.
US stocks trade lower as earnings season continues
US equities turned negative around midday on Wednesday after an upbeat opening as investors continued to digest a batch of quarterly results amid the earnings season.
Jet Privilege assures customers, services to continue unabated
In the wake of Jet Airways cancelling all its operations, Jet Privilege on Wednesday assured its customers that the value of their JPMiles remains secure and intact. It also gave customers the choice to redeem their JPMiles by flying across other airlines."With our air reward offering, "Select Flights", members have the choice to redeem their JPMiles to fly free across more airlines, any destinations, any flights and any seats in India and globally," the company said in a statement.The other facilities of availing JPMiles on hotel stays, fuel and other services will continue unabated, the statement added.Jet Privilege Pvt. Ltd. is a separate, independent entity, part of the Etihad Aviation Group formed with the sole purpose to market, develop and grow JetPrivilege - an internationally acclaimed award-winning loyalty and rewards programme.Earlier on Wednesday, Jet Airways cancelled all flights, including its international flights temporarily after failing to secure emergency funds from
Israeli defence sales topped $7.5 bn in 2018: ministry
Israel's defence exports exceeded $7.5 billion (6.6 billion euros) in 2018, with the bulk going to Asia and the Pacific region, the government said Wednesday. A defence ministry spokeswoman told AFP that the total was down from $9.2 billion in 2017 but that had been an exceptionally strong year. The Stockholm International Peace Research Institute put Israel in eighth place in its 2017 top 10 of global arms exporters and said its largest clients that year were India, Azerbaijan and Vietnam. The Israeli government does not comment on individual arms sales, but Wednesday's ministry statement said missile and air defence systems accounted for 24 percent of 2018 sales. UAVs and drone systems amounted to 15 percent, radars and early warning systems 14 percent and aircraft and avionics 14 percent. Other areas included "land systems, ammunition and weapon stations", intelligence and cyber systems and naval systems, it added. "Over the past year we have signed dozens of contracts with various
Jet to suspend ops; Govt calls meeting (Roundup)
Around 20,000 employees and passengers were hit hard as Jet Airways announced temporary suspension of all flight services from Wednesday night as it failed to secure interim funding for maintaining even bare minimum operations.
Tata Steel BSL Q4 net loss narrows to Rs 212 cr
Tata Steel BSL, formerly Bhushan Steel, Wednesday said its net loss narrowed to Rs 212.36 crore in the quarter ending March. The company had reported a net loss of Rs 21,252.92 crore in the same quarter of the previous fiscal. Total income during the quarter rose to Rs 5,517.50 crore, from Rs 4,495.98 crore, the company said in a regulatory filing. In May last year, the National Company Law Tribunal (NCLT) approved the resolution plan submitted by Tata Steel Limited to acquire Bhushan Steel through its wholly-owned subsidiary Bamnipal Steel Limited (BNPL).
Tatas looking for investment in J&K
Jammu and Kashmir may soon see investments by Tata Group companies aimed at reviving the state economy and generating jobs for the local youth.
Jet fails to get funds, to suspend operations (Third Lead)
Jet Airways announced that it has temporarily suspended all flight operations from Wednesday night as the airline failed to secure an interim funding for maintaining even bare minimum operations.
Finally, Jet Airways grounds itself; leaves 20K jobs at stake
After flying for 25 years, Jet Airways Wednesday announced temporary grounding of operations after the lenders declined a Rs 400-crore lifeline, putting at stake 20,000 jobs and thousands of crores in passenger refunds, dues to vendors and over Rs 8,500 crore to banks. Founded by Naresh Goyal, who began as a general sales agent to a host of international airlines with travel agency Jetair, the full-service carrier served tens of millions of passengers for over two-and-half decades, before becoming the seventh domestic carrier to shutter operations in the past five years. However, the once-premier airline flew into deeper turbulence-second in its history after the 2010 crisis-- after four back-to-back quarterly losses, leaving it gasping for financial breath and forcing it to default on payments to nearly all--from banks to lessors, to employees, and eventually leading to the shutdown from tonight as its fleet strength has crimped to just about five planes from 123 in ..
Aviation issues to impact passenger growth: Report
The growth in air passenger volume in India is likely to slow down in the near term due to the recent problems in the country's aviation sector including frequent grounding of flights, a report by India Rating & Research said on Wednesday.
Trinamool MP Kalyan Banerjee's assets double since 2014
Trinamool Congress' Kalyan Banerjee, who is seeking re-election from West Bengal's Sreerampur constituency, has declared that the value of his assets have nearly doubled to Rs 16.69 crore in the last five years, against Rs 8.56 crore declared in 2014.
Office space leasing at 12.8 mn sq ft in Q1 2019: CBRE
Overall leasing activity of office spaces across major cities in the country rose by 3 per cent on a quarter-on-quarter basis during January-March 2019, a CBRE report said on Wednesday.
Mindtree's overall dividend with tax component will strip
Ahead of a potential takeover of the company by L&T, Mindtree's board Wednesday proposed to pay a special dividend to its shareholders, including promoters, that along with regualr dividend and tax components would strip the mid-sized IT firm of about Rs 530 crore. The company has declared an interim dividend of Rs 3 per share that will be paid before May 10 and also pay Rs 4 a share in final dividend, besides Rs 20 in special dividend -- a proposal subject to shareholders' nod at the firm's annual general meeting (AGM) in June or July. "Given the company has about 16 crore shares, the special dividend at Rs 20 a share alone will translate to a cash payout of about Rs 320 crore. Along with interim and final dividends, besides tax components, the total payout will swell to about Rs 530 crore," company CEO and MD Rostow Ravanan told reporters here. He was announcing the Q4 results of the company here. By June or July, Larsen and Toubro (L&T) could hold significant .