Page 737 - Business Finance
LG aims 40 pc market share in home AC segment in India
South Korean consumer electronics maker LG is aiming to garner around 40 per cent market share of the inverter air conditioner market in India this summer, betting on its range of energy efficient products with advance features, said a top company official. LG India claimed to have around 38 per cent share in the inverter room AC segment in 2018, a growth of 28 per cent, even though the market was almost flat last season. The company, which sells a range of ACs through over 20,000 points of sale across India, expects a faster growth rate from the non-metro and tier III markets, besides the metros, which are the highest contributors to the company's sales. The company expects 70 per cent AC sales to come from its highly energy efficient 5-star range, the segment in which LG India is extending its product portfolio. "We have a market share of 38 per cent in the inverter AC sales; and this year we are aiming to have around 40 per cent, said LG Electronics India VP Home Appliances and Air
MEP Infrastructure Developers' SPVs achieve financial closure for NHAI projects
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Social Sector Funding has Grown 11% Over the Past 5 Years Between 2014 and 2018; Funding by Individual Philanthropists Grew by 21% in the Same Period
/ -- Rs. 26 lakh crore ($370 billion) per year is the current projected funding required by India to achieve even 5 of the 17 Sustainable Development Goals by 2030 India has maintained a strong philanthropic momentum with the social sector funding growing steadily at 11% in the last 5 years, between 2014 and 2018. Private funding grew at a rate of 15% during the same period while public funding increased at a pace of about 10% per year, according to Bain & Company's 'India Philanthropy Report 2019 - Embracing the field approach to achieve India's Sustainable Development Goals',released last week.The ninth annual report, developed in collaboration with Dasra, uncovers a continuous increase in social sector funding in India with contributions across the board. While the government continues to remain the largest contributor, private funding, led by individual philanthropists expanded its base, outpacing public funding. Funding by individual philanthropists grew by 21% between 2014 .
CII Expects 8% Average Annual GDP Growth In Next Five Years
With General Elections scheduled shortly, the Confederation Of Indian Industry (CII) has released a Suggested Election Manifesto, providing an economic roadmap for the incoming government. It covers suggestions across a range of subjects including Agriculture, Education, Health, Infrastructure, Manufacturing, Technology and Environment. The CII Suggested Election Manifesto has been shared with all major political parties, both national and regional, for their consideration and inclusion in their party manifesto.
Gold firms up on jewellers' buying
Gold prices gained Rs 80 to Rs 33,250 per 10 gram at the bullion market on Monday due to fresh buying by local jewellers, even as the metal lost steam overseas, according to the All India Sarafa Association. Silver, however, fell by Rs 370 to Rs 39,530 per kg due to low offtake from industrial units and coin makers. Traders attributed the rise in gold prices to pick-up in demand from local jewellers in the domestic market, but said a weak trend overseas capped the gains. Globally, gold shed 0.09 per cent to USD 1,297.50 an ounce, and silver 0.20 per cent to USD 15.38 an ounce in New York as a weak US employment report sent the greenback lower and clouded the outlook for the global economy. In the national capital, gold of 99.9 per cent and 99.5 per cent purities recovered by Rs 80 each to Rs 33,250 and Rs 33,080 per 10 gram, respectively. It had lost Rs 100 on Saturday. Sovereign, however, remained flat at Rs 26,400 per piece of 8 gram. Silver ready fell by Rs 370 to Rs 39,530 per kg .
Kalpataru bags orders worth Rs 1,288 c
Kalpataru Power Transmission Ltd (KPTL) Monday said it has bagged new orders worth Rs 1,288 crore. The company's transmission and distribution (T&D) business has secured projects of Rs 771 crore primarily in international markets, KPTL said in a statement. Its oil and gas business bagged two projects totalling Rs 517 crore, the company added. "These new orders along with the order announced during the year will help us to deliver sustainable and profitable growth ahead. We remain confident to meet our revenue and margin guidance for financial year 2018-19," Managing Director and CEO Manish Mohnot said. KPTL is a specialised engineering, procurement and construction company in India engaged in power T&D, oil and gas pipeline, railways, infrastructure development, civil contracting and warehousing and logistics business. It is executing several contracts in India, Africa, the Middle East, CIS, SAARC and the Far East.
India-Africa biz conclave: Policymakers to discuss strategies to scale up trade ties
Key policymakers from India and African nations will brainstorm on strategies for scaling up bilateral trade volume to USD 150 billion in the next few years at the India-Africa Project Partnerships Conclave to be held here between March 17-19. "The event will mark the deepening of India-Africa economic and business ties and pave the way for a whole range of cross-border project partnerships," the Commerce and Industry Ministry said. The conclave coheres into the Indian government's broader vision of long-term engagement with Africa and its unflinching commitment to expanding the canvas of India-Africa economic partnership which is evident from the increase in bilateral trade between India and Africa by nearly 22 per cent from touching USD 62.66 billion in the year 2017-18, it added. Senior ministers from 21 African nations will participate in the 14th CII-EXIM Bank Conclave, which will also see the presence of India's Commerce and Industry Minister Suresh Prabhu. Mahamudu Bawumia, ...
Dilip Buildcon jumps after receiving LoA for EPC project
Dilip Buildcon rose 6.54% to Rs 597 at 14:10 IST on BSE after the company said it has received the letter of acceptance from the National Highways Authority of India for the EPC project in Maharashtra.
Court 'bars Ghosn from attending' Nissan board meeting
A Japanese court on Monday barred Carlos Ghosn from attending a Nissan board meeting, according to local media, as the bailed former chairman prepares his defence against charges of financial misconduct. Nissan removed Ghosn as chief shortly after his shock arrest in November, but he cannot be officially removed from his seat on the board without an extraordinary shareholders' meeting -- expected to take place on April 8. Both public broadcaster NHK and the Nikkei business daily reported the decision but the court could not be immediately reached for confirmation. The Japanese carmaker is holding a board meeting on Tuesday in Yokohama, near Tokyo. And Ghosn's lawyer Junichiro Hironaka said earlier Monday that his client "had a duty" to attend the board meeting and wanted to do so -- if the court gave the green light. Ghosn was released on March 6 on bail of nearly $9 million. Under the terms of his release, he is forbidden from contacting people who could be involved in his case, ...
Trump to seek $8.6 bn for border wall in new budget
US President Donald Trump is expected to seek $8.6 billion for his long-promised wall along the border with Mexico when he submits his 2020 congressional budget on Monday, likely igniting another funding standoff with Congress.
Birla Corp stocks tank 14% after National Green Tribunal order
The share price of Birla Corporation fell over 14 per cent on Monday after the National Green Tribunal (NGT) ordered a stop to all mining activities in Rajasthan's Chittorgarh city.
StayAbode raises funds from Voyage Group, others
StayAbode, a startup that is into building co-living spaces, Monday said that Voyage Group, Akatsuki and Incubate Fund have invested in an add-on to its 'pre Series A' funding round. The company, however, did not divulge the quantum of funding received. "StayAbode, a start-up that is building co-living spaces, has received an add-on to pre Series A funding for an undisclosed amount from Voyage Group, Akatsuki and Incubate Fund," the firm said in a statement. StayAbode currently has 1,200 beds available across over 19 properties in Bengaluru with a further 1,000 beds contracted to go live in the next six months and is operating at 97 per cent occupancy. It has plans to expand to other cities in due course. The co-living spaces startup recently tied up with CP Developers and is working on a co-living project in India, entailing 1,400 people living in a community environment, in the heart of Bengaluru's Whitefield. "With this top-up on our pre-series A fundraise, we're going to grow our .
Oil India in focus on winning 2 blocks in DSF round II bidding
Oil India (OIL) announced that it was awarded two blocks as part of the discovered small field (DSF) bid round - II. Onshore contract area AN/ONDSF/Tuiamura/2018, covering an area of 47.23 square km, is in Tripura. Offshore contract area KG/OSDSF/GSKW/2018, covering an area of 93.902 square km, is in the Krishna Godavari (KG) basin. This will be OIL's first ever foray into the North Eastern state of Tripura and also into KG Offshore. The announcement was made after market hours on Friday, 8 March 2019.
Zee Entertainment Enterprises Ltd slips for fifth straight session
Zee Entertainment Enterprises Ltd is quoting at Rs 455.05, down 0.01% on the day as on 13:24 IST on the NSE. The stock tumbled 21.03% in last one year as compared to a 7.01% rally in NIFTY and a 24.37% fall in the Nifty Media index.
Infosys Ltd eases for fifth straight session
Infosys Ltd is quoting at Rs 710.4, down 0.27% on the day as on 13:24 IST on the NSE. The stock jumped 19.82% in last one year as compared to a 7.01% rally in NIFTY and a 18.92% spurt in the Nifty IT index.
China Market surges on policy boosts hopes
Weaker than expected Chinese loan and money supply data raised expectations of further action to spur the slowing economy. People's Bank of China (PBOC) pledged to further support the slowing economy by spurring loans and lowering borrowing costs. People's Bank of China (PBOC) Governor Yi Gang said on Sunday that there is still some room for the PBOC to cut reserve requirement ratios, and said the bank will work on lowering risk premiums that have kept lending rates for small firms relatively elevated. Considering that the main external central banks are all turning toward loosening, and that domestic credit growth still requires government support, monetary policy will continue to be relatively loose
Sensex, Nifty hit fresh intraday high
Key equity indices extended gains and hit fresh intraday high in afternoon trade. At 13:34 IST, the barometer index, the S&P BSE Sensex, was up 341 points or 0.93% at 37,012.43. The Nifty 50 index was up 122.75 points or 1.11% at 11,158.15.
Hindustan Petroleum Corporation Ltd Jumps Around 6%
Hindustan Petroleum Corporation Ltd is quoting at Rs 264.8, up 5.98% on the day as on 12:54 IST on the NSE. The stock is down 27.8% in last one year as compared to a 6.93% spurt in NIFTY and a 13.56% spurt in the Nifty Energy index.
Japan Nikkei bounces as investors buy on dips
Bargain-hunting overwhelmed concerns about the global economy after weak US job figures and other poor global readings that sent US shares down. Data released on Friday showed US employment growth almost stalled in February, with the economy creating only 20,000 jobs, adding to signs of a sharp slowdown in economic activity in the first quarter. Wall Street's main indices fell for the fifth day on Friday in wake of the jobs report. Risk sentiment was also muted by weak Chinese inflation and new loans data released on the weekend, adding to dismal trade figures on Friday and pointed to lacklustre demand in Australia's largest trading partner.
Jet Airways shares jump over 4 pc
Shares of Jet Airways gained over 4 per cent Monday amid reports that the cash-strapped airline has secured a loan worth over Rs 2,000 crore from Punjab National Bank (PNB). Intra-day, the stock rose 4.68 per cent to a high of Rs 254.50 on BSE. Similarly, on NSE, the scrip rose to an intra-day high of Rs 255, up 4.83 per cent. According to a report, the airline has raised loan worth Rs 1,100 crore and a non-fund based credit facility of Rs 950 crore from PNB. It said the loan has been raised through two separate agreements with the state-run bank. Under one agreement, Jet Airways received a credit facility of Rs 1,050 crore, and a non-fund based facility of Rs 700 crore. The other agreement has a credit facility of Rs 1,000 crore that includes a term loan of Rs 750 crore and a non-fund based facility of Rs 250 crore, the report added.