Page 636 - Business Finance
BEL clocks turnover of Rs 11,700 crore in 2018-19, acquires orders of Rs 23,200 crore
Navratna defence PSU Bharat Electronics Limited (BEL) on Monday reported turnover of Rs 11,700 crore during 2018-19, sustaining 16 per cent growth over the previous year's turnover of Rs 10,085 crore.The year saw an all-time high order acquisition of Rs 23,200 crore, taking the order book to Rs 51,600 crore.Some major orders include long-range surface-to-air missile system, Kerala fibre optics network, smart city projects, integrated perimeter security solution, weapon repair facility for naval ships and naval airfield integrated security system.Among the flagship projects executed during 2018-19 were integrated air command and control system, weapon locating radar, thermal image sights, Schilka tanks upgrade, tropo upgrade, integrated communication system, long-range surface-to-air missile system, ground-based electronic warfare system, L-70 gun upgrade, electronic voting machines and voter verifiable paper audit trail.At the same time, BEL achieved export sales of 21.87 million ...
Sensex breaches 39,000-mark briefly in morning session
The Sensex briefly crossed 39,000 mark as stock markets opened with a buoyant note on Monday when the new financial year kicked in ahead of the general elections.The gains were broad based with most sectoral indices in the green. At the National Stock Exchange, the auto index was up 1.7 per cent and banking index 0.4 per cent.At 11:15 am, the BSE S & P Sensex was up 265 points at 38,937 while the NSE Nifty 50 gained 62 points at 11,686.Hindalco traded high by 5.6 per cent, Tata Motors 4.3 per cent, Vedanta 4.2 per cent and GAIL 2.6 per cent.However, Indian Oil was down 3.6 per cent, ONGC 2.2 per cent, Indiabulls Housing Finance 2.1 per cent and Coal India 1.8 per cent.Market experts said many traders were going by opinion polls, which show the current government is likely to return to power after the general elections for which the polling will begin on April 11.Meanwhile, other Asian stocks too rallied with market sentiment supported by positive Chinese factory data and signs of .
RBI Places NBFC-MFIs' Average Base Rate At 9.21% For Current Quarter
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L&T advances after large order win
Larsen & Toubro rose 1.64% to Rs 1,406.70 at 12:18 IST on BSE after the company was awarded a large contract for new strategic gas export pipeline by KOC-Kuwait.
Crude oil futures rise 0.69 pc on global cues
Crude oil prices rose 0.69 per cent to Rs 4,214 per barrel in futures trade Monday as speculators created fresh positions taking positive cues from global markets. At the Multi Commodity Exchange, crude oil for delivery in April was trading higher by Rs 29, or 0.69 per cent, to Rs 4,214 per barrel in a business turnover of 3,635 lots. Analysts said speculative positions built up by traders tracking a better trend overseas mainly influenced sentiments at futures prices trade here. Meanwhile, West Texas Intermediate (WTI) crude oil gained 0.70 per cent to USD 60.56, while global benchmark Brent advanced 0.93 per cent to USD 68.21 per barrel.
Sensex, Nifty trade in range
Key benchmarks were trading in a narrow range with modest gains in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was up 265.79 points or 0.69% at 38,938.70. The Nifty 50 index was up 69.35 points or 0.60% at 11,693.25.
Arshiya Ltd leads gainers in 'B' group
Lyka Labs Ltd, Bharat Immunological & Biological Corporation Ltd, Salona Cotspin Ltd and Landmark Property Development Company Ltd are among the other gainers in the BSE's 'B' group today, 01 April 2019.
Bank of Baroda becomes second largest PSU bank after SBI
Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation. The consolidated entity started its operation with a business mix of over Rs 15 lakh crore of balance sheet, with deposits and advances of Rs 8.75 lakh crore and Rs 6.25 lakh crore, respectively. BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers. Meanwhile, BoB completed share allotment to shareholders Dena Bank and Vijaya Bank as per the scheme of amalgamation. Shareholders of Vijaya Bank got 402 equity shares of BoB for every 1,000 shares held. In the case of Dena Bank, its shareholders received 110 shares of BoB for every 1,000 shares. The bank on Monday issued and allotted equity shares at approved share exchange ratio pursuant to 'Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda Scheme, 2019', BoB said in a regulatory filing. Post-amalgamation, the bank will ..
Housing.com parent firm acquires home rental platform FastFox for nearly Rs 100 cr
Elara Technologies, which owns three realty portals Housing.com, PropTiger and Makaan, Monday said it has acquired home rental brokerage platform FastFox.com at a valuation of nearly Rs 100 crore as part of its growth plans. With this acquisition, Singapore-based Elara, which is backed by News Corp and Softbank, has entered the online-to-offline home rentals space that has a market size of over Rs 20,000 crore. "Until now we were in the home rentals market through listings on both our platforms, Housing.com and Makaan.com. With this acquisition, we will now provide end-to-end on-ground assistance to both landlords and tenants in collaboration with other brokers," Elara Technologies CEO Dhruv Agarwala told PTI. The acquisition has been done at a valuation of nearly Rs 100 crore, he said. "For the time being, we will retain the FastFox brand," he said, adding that the entire 120 people of FastFox would now become part of Elara. Currently, Elara Technologies is growing at a rate of more
Andhra Bank leads gainers in 'A' group
Lakshmi Vilas Bank Ltd, Jammu and Kashmir Bank Ltd, Welspun Corp Ltd and Corporation Bank are among the other gainers in the BSE's 'A' group today, 01 April 2019.
Embassy Office Parks REIT jumps over 6 pc in debut trade
The units of Embassy Office Parks REIT jumped as much as 6.3 per cent in its trading debut Monday, against its issue price of Rs 300. The REIT got listed flat at Rs 300 on the BSE. Later, it rose by 5.9 per cent to Rs 317.70 as compared to the issue price. At the NSE, the unit made its debut at Rs 308, registering a gain of 2.66 per cent. As the trade progressed, it later jumped 6.26 per cent to a high of Rs 318.80. The REIT's market valuation stood at Rs 24,446.36 crore on the BSE. The issue of the country's first real estate investment trust (REIT) was subscribed 2.57 times during its bidding process last month, helping the firm raise Rs 4,750 crore. The issue was in a price band of Rs 299-300 per unit. REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investment in this platform and earn income. Embassy Office Parks had in September last year filed the draft red herring prospectus (DRHP) with markets regulator
Indices come off day's high
Key equity indices trimmed gains in mid-morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 262.38 points or 0.68% at 38,935.29. The Nifty 50 index was up 65.50 points or 0.56% at 11,689.40. The Sensex was trading below 39,000 mark after crossing that level in morning trade. The Nifty was trading below 11,700 mark after crossing that level in morning trade. The sentiment was boosted by positive global cues backed by fresh hopes of a progress in China-US trade talks.
Volumes soar at ISGEC Heavy Engineering Ltd counter
ISGEC Heavy Engineering Ltd recorded volume of 7.12 lakh shares by 10:49 IST on BSE, a 35.74 times surge over two-week average daily volume of 19922 shares
BJP scores big on national security, Congress pushes back on economic welfare (IANS-CVoter 2019 Survey)
While the warmth of Indias tough response on the Pulwama bombing remains more or less intact for Prime Minister Narendra Modi and BJPs prospects going forward for the impending hustings, the Congress seems to be getting traction with its NYAY scheme.
MOIL reports 9% growth in turnover at Rs 1,440 crore during 2018-19
MOIL Limited, India's largest producer of manganese ore, said on Monday it registered the highest-ever turnover of Rs 1,440 crore during the financial year 2018-19, marking a growth of 9 per cent over previous year.Core production (non-fines, that is production excluding fines) jumped 15 per cent during the year. Total production crossed 13 lakh tonnes in FY 19, up by about 9 per cent year-on-year, which is the highest achievement in past ten years.The public sector company also achieved highest-ever production of non-fines manganese ore. Non-fines sales were also at a record high of 11 lakh tonnes, up by 13 per cent. The total production growth in the last three years is about 30 per cent, according to an official statement.MOIL currently holds about 34 per cent of manganese ore reserves of the country and is contributing nearly 50 per cent of the domestic production.The company is also giving thrust on expansion and modernisation of its mines to sustain production levels and attain .
Markets gain with Nifty close to 11,700 mark, Sensex up 315 points
Stock markets opened with a buoyant note on Monday as the new financial year began ahead of the general elections.At 10:15 am, the BSE S & P Sensex was up 315 points at 38,988 while the NSE Nifty 50 gained 75 points at 11,699.The gains were broad-based with most sectoral indices in the green. At the National Stock Exchange, the banking index was up nearly half per cent.Hindalco traded high by 5.6 per cent, Tata Motors 4.3 per cent, Vedanta 4.2 per cent and GAIL 2.6 per cent.However, Indian Oil was down 3.6 per cent, ONGC 2.2 per cent, Indiabulls Housing Finance 2.1 per cent and Coal India 1.8 per cent.Meanwhile, other Asian stocks too rallied with market sentiment supported by positive Chinese factory data and signs of progress in US-China trade talks. The Caixin/Markit purchasing managers' index (PMI) showed the manufacturing sector returning to growth.The United States and China said they made progress in trade talks that concluded on Friday in Beijing.
UK businesses see Brexit as major obstacle to success: Study
Brexit may prove to be a major obstacle to over a million small and medium-sized enterprises, say scientists who conducted one of the largest surveys of its kind in the UK. Researchers from University of St Andrews and University of Essex found that almost a quarter of small and medium-sized enterprises (SMEs) surveyed in 2017 viewed Brexit as a major obstacle to their success, up from 16 per cent in 2016. The activities most affected are investment and exporting, according to the study published in the journal Regional Studies. Plans for future capital investment have been scaled down by around two-thirds of SMEs (62 per cent) and plans to increase export sales are being scaled back by over three-quarters (77 per cent). The data from the research covers a total of 15,867 responses from UK small business owners and managers, taken during a major longitudinal survey. Extrapolating the number of businesses surveyed to the overall population of SMEs suggests that over 1.25 million SMEs ..
Narayan Bhargava Group Introduces Business Support Services
/ -- Think of an Expansion, Narayan Bhargava Group Manages the Rest Expanding a business is a complex and dynamic process that can interrupt ongoing business activities. Having a clear expansion objective, deep understanding of the existing competition and knowledge of current market trends lays an important foundation. Narayan Bhargava Group is an Indian conglomerate, which focuses on organizations' core business. The group consists of Calibehr Business Support Services, MyBranch, and N.S.Bhargava & Co., which offer solutions ranging from compliance, audit to shared office spaces, software, recruitment, and many more to meet every possible need that can arise whenever businesses think of expansion. (Photo: https://mma.prnewswire.com/media/843503/NB_Group_Infographic.jpg) Today's business environment is becoming increasingly regulated in a global attempt to foster ethical business practices. Both multinational and Indian companies operating in the country are expected to deal ...
Sensex at record high, crosses 39,000
The BSE Sensex on Monday touched a record high and crossed the 39,000 mark for the first time.
Sensex crosses 39,000 mark; breadth strong
Key indices extended early gains and hit fresh intraday high in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 335.03 points or 0.87% at 39,007.94. The Nifty 50 index was up 87.05 points or 0.75% at 11,710.95. Positive global cues boosted sentiment. The Sensex crossed 39,000 mark. The Nifty was trading above 11,700 mark.