Page 718 - Business Finance
Lufthansa warns airport capacity to squeeze growth
- Lufthansa, Europe's largest airline group, said Thursday that capacity bumping up against limits at overcrowded airports would hem in growth this year as it reported that its bottom line fell in 2018. Net profits at the Frankfurt-based group amounted to 2.2 billion euros ($2.5 billion), down 8.0 percent year-on-year. Disruption to air traffic, higher fuel costs and the pricey acquisition of large parts of defunct competitor Air Berlin all weighed on the result, Lufthansa said, outweighing a 6.0-percent boost in revenues to 35.8 billion euros. Looking ahead to 2019, Lufthansa's executives said they had cut back their targets for capacity growth, or increasing the number of seats available, as infrastructure bottlenecks at airports and air traffic control make adding new flights a challenge. In summer, capacity will be 1.9 percent higher than last year -- half the increase previously announced. Over 2019, Lufthansa expects revenues to grow by between four and six per cent. But it sees
Gold flat; silver slides to Rs 39,300 per kg
Gold prices were ruling almost flat at Rs 33,370 per 10 gram, while silver dropped Rs 410 to Rs 39,300 per kg in the national capital on Thursday, according to the All India Sarafa Association. Traders said gold prices fell by Rs 15 at the bullion market here. Globally, gold traded lower at USD 1301.20 an ounce, while silver fell to USD 15.37 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 15 each to Rs 33,370 and Rs 33,200 per 10 gram, respectively. However, sovereign gold held steady at Rs 26,400 per eight gram. On the other hand, silver ready slumped by Rs 410 to Rs 39,300 per kg and weekly-based delivery by Rs 107 to Rs 38,661 per kg. Price for a lot of 100 silver coins remained flat at Rs 80,000 for purchase and Rs 81,000 for sale.
Reliance Infrastructure offloads stake in Delhi-Agra Toll Road to Singapore firm
Anil Ambani-led Reliance Infrastructure on Thursday announced the signing of a definitive binding agreement with Singapore-based Cube Highways and Infrastructure III Pte Ltd for the sale of its entire stake in Delhi-Agra Toll Road Pvt Ltd.The total deal enterprise value is over Rs 3,600 crore. In addition, the National Highways Authority of India claims of Rs 1,200 crore to be filed by DA Toll Road will flow directly to Reliance Infrastructure.The company will utilise the proceeds of this transaction entirely to reduce its debt, it said in regulatory filings to stock exchanges. After the completion of the transaction, the debt of Reliance Infrastructure will reduce by 25 per cent to less than Rs 5,000 crore.The transaction is in line with the company's strategic plan of monetising non-core business and focus on major growth areas like engineering and construction business. The transaction is subject to all requisite permissions and approvals.Reliance Infrastructure's special purpose ..
Sun Pharma moves up after raising stake in Russia's PJSC Biosintez
Sun Pharmaceutical Industries rose 1.95% to Rs 465 at 14:56 IST on BSE after the company said its subsidiary hiked stake in Russia's PJSC Biosintez.
Reliance Capital Ltd leads losers in 'A' group
Manpasand Beverages Ltd, Take Solutions Ltd, Kwality Ltd and Reliance Power Ltd are among the other losers in the BSE's 'A' group today, 14 March 2019.
Bharti Airtel appoints Nakul Sehgal Corporate Chief Financial Officer
Bharti Airtel on Thursday announced the appointment of Nakul Sehgal as Corporate Chief Financial Officer.Sehgal brings over 17 years of professional experience having worked in three continents where he held key positions within the financial and commercial areas of international business operations in emerging and advanced markets.He will report to company's Chairman Sunil Bharti Mittal.Sehgal will be the key interface between the corporate office and operations. He will lead investor relations, group taxation functions, monitor investments across geographies and work closely with both Airtel India and Airtel Africa to ensure high-quality deliverables by group finance shared services functions to both regions.Sehgal will also be actively involved with Airtel Africa IPO and fund-raising at Airtel India."Over the years, Bharti has always attracted the best of talent from across industry verticals and geographies," said Mittal."I am confident Nakul's vast experience within the financial
Market hovers in small range
Stocks hovered in a small range in mid-afternoon trade. At 14:29 IST, the barometer index, the S&P BSE Sensex, was up 19.66 points or 0.05% at 37,771.83. The Nifty 50 index was up 0.90 points or 0.01% at 11,342.60.
Australia Market gains on Wall Street's upbeat lead
Shares of energy companies advanced after crude oil futures rallied more than 1% overnight as Saudi Arabia pledged to cut exports and a blackout in Venezuela disrupted both production and exports. Among energy players, Santos, Woodside Petroleum, Oil Search, Beach Energy add between 1.39% and 3.5%.
Japan Nikkei falls on profit booking
Shares of cyclical companies were lower, with Advantest Corp tumbling 2.9%, TDK Corp and Panasonic Corp both sliding 1.5%.
Nitesh Estates Ltd leads losers in 'B' group
Sambhaav Media Ltd, Magnum Ventures Ltd, BLB Ltd and Cambridge Technology Enterprises Ltd are among the other losers in the BSE's 'B' group today, 14 March 2019.
Volumes spurt at GE T&D India Ltd counter
GE T&D India Ltd registered volume of 7.47 lakh shares by 14:14 IST on NSE, a 25.7 fold spurt over two-week average daily volume of 29074 shares
TCS identifies blockchain platform solutions across industries
TCS has already identified and is developing five blockchain platforms that include, digital identity, track and trace, assets in common, asset monetization, and tokenization. Across these horizontal platforms, TCS, has identified numerous solution opportunities and is building them out by leveraging their respective customer and partner networks.
WPI inflation rises marginally to 2.9% in February 2019
Core inflation declines to 2.4% in February 2019
Industrial credit rose to 5.2% in January: Report
Industrial credit in the country rose by 5.2 per cent on a year-on-year (YoY) basis in January 2019, a Centrum Broking report said on Thursday.
Twitterati call for banning Chinese products in India
With China blocking India's bid to list Jaish-e-Mohammad (JeM) chief Masood Azhar as a global terrorist, the call for banning Chinese products has renewed in India with yoga guru Ramdev and Meghalaya Governor Tathagata Roy leading the charge on Twitter.
Rajesh Exports bags order worth Rs 1,079 cr from Middle East
Gold refiner Rajesh Exports Thursday said the company has secured a new export order worth Rs 1,079 crore from Middle East. The order is to be completed by June, the company said in a regulatory filing. The company will manufacture the entire requirement of this order at its own manufacturing facility and is confident of delivering the required order within the time frame, it added. The company further noted the order has its special significance for the acceptance of the new range of jewellery introduced by the company in the global markets and expects further significant orders for this range of jewellery from the international markets. "Bagging a large order amid strong global competition speaks volumes about the designing, R&D capabilities, products, prompt execution and attractive pricing of the company," Rajesh Exports Chairman Rajesh Mehta said. The Bengaluru-headquartered company has global manufacturing and marketing network with distribution through exports, wholesale ...
Rajesh Exports firms up after winning export order
Rajesh Exports rose 1.37% to Rs 621.50 at 13:57 IST on BSE after the company said it procured export order worth Rs 1079 crore.
Silver weakens in futures trade, down Rs 258
Silver prices plunged by Rs 258 to Rs 38,490 per kg in futures trade Thursday as speculators cut down their bets to book profits amid a weak trend overseas. Silver to be delivered in May was trading down by Rs 258, or 0.67 per cent, to Rs 38,490 per kg at the Multi Commodity Exchange. It clocked a business volume of 18,698 lots. Silver for delivery in far-month July, too, was trading lower by Rs 269, or 0.68 per cent, to Rs 39,036 per kg in a business turnover of 378 lots. Market analysts said profit-booking at current levels and fresh losses in white metal overseas mainly led to the fall in silver prices here. In the international market, silver traded 0.08 per cent lower at USD 15.33 an ounce in Singapore.
TCS to drive Blockchain adoption
Tata Consultancy Services (TCS) on Thursday announced that it is developing solutions to drive Blockchain adoption across industries, using technologies from Microsoft and enterprise blockchain software firm R3.
Sensex, Nifty trade with small losses
Key equity benchmarks were trading with small losses after hitting fresh intraday low in afternoon trade. At 13:24 IST, the barometer index, the S&P BSE Sensex, was down 40.17 points or 0.11% at 37,712. The Nifty 50 index was down 17.85 points or 0.16% at 11,323.85.