Page 683 - Business Finance
Metro services on Blue line briefly disrupted: DMRC
Metro services on the Blue line was briefly disrupted on Friday after a girl allegedly jumped in front of an approaching train at Noida sector 16 station, Delhi Metro Rail Corporation (DMRC) said. "Delay in service between Noida Electronic City and Dwarka Sector 21 after a girl jumped in front of an approaching train at Noida sector-16 heading towards Dwarka at around 10.45 am," a DMRC spokesperson said. Services on all other lines remained unaffected, he said. "I could not make it to office on time since the metro services on my route was delayed for about 20 minutes," said a commuter.
Gold futures up Rs 91 on global cues
Gold prices rose by Rs 91 to Rs 31,910 per 10 gram in futures trade Friday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in April was trading higher by Rs 91, or 0.29 per cent, to Rs 31,910 per 10 gram in a business turnover of 7,881 lots. Similarly, the delivery for far-month June for the yellow metal was up by Rs 106, or 0.33 per cent, to Rs 32,150 per 10 gram with a business volume of 11,825 lots. Analysts said raising of bets by participants on positive cues from the global market, mainly pushed up gold prices at futures trade here. Globally, gold rose 0.94 per cent to trade at USD 1,312.75 an ounce in Singapore.
D B Corp Ltd drops for fifth straight session
D B Corp Ltd is quoting at Rs 191.75, down 0.49% on the day as on 13:24 IST on the NSE. The stock in last one year as compared to a 15.19% in NIFTY and a 24.28% up 2.44% in the Nifty Media index.
Market hovers a tad below flat line
Key barometers were hovering a tad below the flat line in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 13.82 points or 0.04% at 38,372.93. The Nifty 50 index was down 4.50 points or 0.04% at 11,516.55. The Nifty was hovering above the 11,500 mark after moving above and below that mark in intraday trade.
REC pays Rs 1,143 cr interim dividend for FY19 to govt
State-owned REC Ltd Friday said it has paid Rs 1,143.34 crore as interim dividend for 2018-19 to the power ministry. Ajeet Kumar Agarwal, CMD & Director (Finance) of REC presented RTGS credit advice towards payment of interim dividend for the 2018-19, amounting to Rs 1,143.34 crore on the shareholding of the central government in REC to R K Singh, Minister of State for Power (Independent Charge) on Wednesday, March 20, 2019, a company statement said. The Board of REC had declared interim dividend at the rate of Rs 11 per equity share representing 110 per cent of total paid up share capital of the company for 2018-19, according to the statement. Further, it said that during the nine months ended December 31, 2018, the company sanctioned new projects of Rs 96,357 crore and disbursed Rs 52,269 crore to various power sector borrowers. During the nine months period, the company recorded a PBT (profit before tax) of Rs 6,466.20 crore and PAT (net profit) of Rs 4,507.59 crore, thereby ...
Fitch slashes India growth forecast from 7 pc to 6.8 pc
Global rating agency Fitch has cut its India's economic growth forecast to 6.8 per cent for 2019-20 from the earlier estimate of 7 per cent due to weak momentum in manufacturing and agriculture.However, it said India economic growth forecast is expected to be 7.1 per cent in 2020-21."While we have cut our growth forecasts for the next fiscal year (April 2019 to March 2020) on weaker-than-expected momentum, we still see Indian GDP growth to hold up reasonably well at 6.8 per cent followed by 7.1 per cent in April 2020 to March 2021," said the rating agency in its Global Economic Outlook.Weaker momentum has been mainly domestically driven, it said. First, credit availability has tightened up in areas heavily dependent on non-bank financial company (NBFC) credit like autos and two-wheelers where sales have dropped.Second, food inflation has been muted and fell into negative territory late last year, weighing on farmers' incomes. Banks have been increasing credit to the private sector in .
Tata Power SED bags Rs 1200 cr contract from Ministry of Defence
For supply of 3 ship-borne 3D Air Surveillance Radars to the Indian Navy
PG Electroplast to convene board meeting
On 25 March 2019
Tata Elxsi Ltd up for fifth straight session
Tata Elxsi Ltd is quoting at Rs 989.45, up 0.27% on the day as on 12:49 IST on the NSE. The stock is up 2.44% in last one year as compared to a 15% jump in NIFTY and a 23.64% jump in the Nifty IT.
Punjab National Bank remains supported
Punjab National Bank is quoting at Rs 93.9, up 0.37% on the day as on 12:49 IST on the NSE. The stock is up 0.81% in last one year as compared to a 15% jump in NIFTY and a 25.63% jump in the Nifty Bank.
Tata Power advances after bagging new contract
Tata Power Company rose 1.67% to Rs 73.20 at 12:07 IST on BSE after Tata Power Strategic Engineering Division bagged Rs 1200 crore contract from the Ministry of Defence for supply of ship-borne 3D Air Surveillance Radars.
Woodsvilla fixes record date for sub-division of equity shares
Record date is 05 April 2019
Car deliveries priority for Tesla: Elon Musk
Tesla CEO Elon Musk is prioritizing on meeting its first quarter goal of car deliveries before March 31.
Lounging - The most preferable service at the airport - Bhavya Kukreja
Airports are beyond travel now as they have turned into retail destinations with more and more luxury brands coming up with their stores. Travellers usually use their lag time to explore and shop at these stores, as they get different advantages like tax-free shopping for cosmetics, top-shelf liquor, premium quality chocolates etc. Lounges are actually the best option for people having connecting flights or experiencing flight delays.Bhavya Kukreja, GM - PR & Marcom, Plaza Premium Lounge (PPL), the world's largest independent airport lounge network highlights why there has been a growing demand for these airport lounges. He also shares his views on the evolution and growth of PPL and its marketing plans.Talking about the growing demand for airport lounges, Kukreja said: "The numbers of air travellers are increasing year on year basis which is a good sign for lounge business. With various corporate partners, lounging now has become the most preferable service at the airport. We ..
Tata Power SED bags Rs 1,200 crore contract from Defence Ministry
Tata Power Strategic Engineering Division (Tata Power SED) on Friday announced the signing of a Rs 1,200 crore deal with the Ministry of Defence for supply of 23 ship-borne 3D air surveillance radars to Indian Navy over the next 10 years.The contract was signed under the buy-and-make category of the Defence Procurement Procedure 2013. It will offer Indian Navy a proven solution with a production arrangement in India under transfer of technology. This will further substantive self-reliance for the country's defence requirements.The contract will be executed by Tata Power SED as the prime contractor with foreign original equipment manufacturer partner Indra Sistemas of Spain, the company informed stock exchanges in regulatory filings.Significantly, Tata Advanced Systems Ltd has entered into a strategic partnership agreement with Tata Power for purchase of Tata Power SED, subject to regulatory and other approvals.In November 2017, Tata Power SED had signed a contract with the Ministry of
Pak to receive USD 2.1 loan from China by March 21
Cash-strapped Pakistan will receive over USD 2 billion loan from its "all-weather" ally China by Monday to provide a boost to its ailing economy, the Finance Ministry has announced. Ministry's adviser and spokesperson Khaqan Najeeb Khan said that "all procedural formalities" for the transfer of the USD 2.1 billion (15 billion yuan) loan being provided by the Chinese government have been completed, and "the funds will be deposited in the State Bank of Pakistan's account by Monday, March 25", the Dawn newspaper reported. Pakistan has received USD 1 billion each from Saudi Arabia and the UAE, as part of the bailout packages by the two Gulf nations to help shore up Islamabad's dwindling foreign currency reserves. Saudi Arabia's assistance was part of the USD 6 billion bailout package - USD 3 billion balance-of-payments support and another USD 3 billion in deferred payments on oil imports - which Riyadh had agreed in October last year. Islamabad is also in talks with the International ...
Mindtree founder says 'offered huge bags of money'
New Delhi, March 22 ( IANS) Amidst a takeover bid, IT services firm Mindtree's founder and former CEO, Subroto Bagchi, has revealed that he along with other promoters -- Krishnakumar Natarajan, Rostow Ravanan and Parthasarathy N.S. -- were "offered huge bags of money to give Mindtree away".
Ducon Infratechnologies Ltd leads gainers in 'B' group
Visa Steel Ltd, Indo Thai Securities Ltd, Digjam Ltd and Allsec Technologies Ltd are among the other gainers in the BSE's 'B' group today, 22 March 2019.
India Is One Of World's Fastest Growing Large Economies: IMF
The WEO will go into more details, but amongst the policy priorities, we would include: accelerate the clean-up of banks and corporate balance sheets, continue fiscal consolidation, both at center and state levels, broadly, maintain the reform momentum interms of structural reforms in factor markets, labor, land reforms, and further enhancing the business climate to achieve faster and more inclusive growth, Mr Rice said. We'll be saying more about India and in more detail, of course, in this WEO, this World Economic Outlook, he added.
SpiceJet Ltd leads gainers in 'A' group
Reliance Communications Ltd, Take Solutions Ltd, Just Dial Ltd and Oberoi Realty Ltd are among the other gainers in the BSE's 'A' group today, 22 March 2019.