Page 746 - Business Finance
Bosch aims to mop up 1/3rd revenue of 2-wheeler segment from India
Auto components major Bosch is bullish about the fast growing two-wheeler market in the country and expects to mop up one-third of the global revenue of the segment from India, said a company official. According to the company, rise in disposable income coupled with growing number of youths here looking for better riding experience would lead to growth of new generation bikes with connectivity solutions and powersports technologies. Besides, globally Bosch would continue to invest in dedicated motorcycle and powersports technologies with an aim to become the market leader in the segment, the official added. "We expect about one-third of our turnover (two wheeler) would come from the Indian market...we expect it to be by 2022," Bosch Head of Two-Wheeler & Powersports Business Unit Geoff Liersch told PTI. However, Liersch did not share the present figures of India in the global two-wheeler chart of the company. In 2017, Bosch posted a revenue of Rs 10,842 crore in India. Quoting a ..
Board of Power Grid Corporation of India recommends interim dividend
Of Rs 5.83 per share
Aye Finance raises fresh funding of Rs 234 cr
MSME lender Aye Finance Friday said it has raised Rs 233.62 crore from various investors, led by US-based investment firm Falcon Edge Capital. Existing investors CapitalG, LGT and MAJ Invest also participated in this series D equity round, the company said in a release. "The fresh funding will be utilised to drive business growth and develop its financial technology and data mining," it added. The firm, which was incepted about five years ago, has serviced over 1.20 lakh micro enterprises and has a loan book of over Rs 10 billion, it said. "Our enhanced focus on machine learning has benefited from the mentorship of Google Launchpad programme and this has enhanced our ability to create a transformative change for the excluded micro enterprises," Aye Finance Managing Director Sanjay Sharma said.
Mumbai: Trains on Western Railway line delayed due to technical snag
Western Railways on Friday informed that trains on the said line will be running late due to a technical fault near Mahim railway station here. "All up-through & down-through trains and down Harbor line locals will be running late by about 15-20 minutes. Inconvenience is deeply regretted," Divisional Railway Manager of Western Railway tweeted. The technical failure at Mahim Station has also affected long-distance trains. Train number 12902 coming from Ahmedabad to Mumbai central also got delayed and was short terminated at Dadar station, Mumbai Division of Western Railway confirmed.
GBS organizes 3rd vision seminar on corporate ethics and responsible leadership
Globsyn Business School (GBS) organised its 3rd Vision Seminar under the aegis of Globsyn Management Conference (GMC), on 'Corporate Ethics and Responsible Leadership' at The Bengal Chamber of Commerce and Industries on March 8, 2019. Vision Seminar now in its third year, saw the attendance of management student, faculty and corporate professionals.Globsyn Business School has envisaged the Vision Seminar as an annual event to bring together diverse minds touching upon subjects that explore the issues and challenges faced by managers in the new era, create awareness on the implementation of the best practices across organizations, and encourage innovation induced by environmental challenges. The Seminar was inaugurated by Bikram Dasgupta, Founder & Executive Chairman, Globsyn Group, Chief Guest Dr H P Kanoria, Chairman & Managing Trustee, Kanoria Foundation and Guest of Honor Abraham G. Stephanos, MD, TSPDL. The valedictory address at the Seminar was delivered by Swami ...
Markets snap 4-day winning run on weak global cues; log weekly gains
Benchmark indices snapped their four-day rising streak Friday to end marginally lower on losses in IT and metal stocks as investors turned cautious amid weak overseas cues. The 30-share BSE Sensex settled 53.99 points, or 0.15 per cent lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 per cent, to 11,035.40. During the week, the Sensex gained 607.62 points or 1.68 per cent; and the Nifty advanced 171.9 points or 1.58 per cent. Global markets dived on renewed concerns over economic growth amid lacklustre Chinese trade data. Tata Motors was the biggest loser in the Sensex pack Friday, tumbling 3.99 per cent, followed by HCL Tech, Tata Steel, Vedanta, Infosys, ONGC, Asian Paints, Maruti and L&T that shed up to 2.53 per cent. NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent. Sectorally, the BSE metal index lost the
NHPC gets CCEA approval for acquisition of Lanco Teesta Hydro Power and execution of Teesta HE project
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Markets snap 4-day winning streak on weak global cues
The BSE benchmark Sensex snapped its four-day rising streak Friday to end marginally lower on losses in IT and metal stocks as investors turned cautious amid weak overseas cues. The 30-share index settled 53.99 points, or 0.15 per cent lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 per cent, to 11,035.40. During the week, the Sensex gained 607.62 points or 1.68 per cent; and the Nifty advanced 171.9 points or 1.58 per cent. Tata Motors was the biggest loser in the Sensex pack Friday, tumbling 3.99 per cent, followed by HCL Tech, Tata Steel, Vedanta, Infosys, ONGC, Asian Paints, Maruti and L&T that shed up to 2.53 per cent. NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent. Sectorally, the BSE metal index witnessed most losses, falling 1.57 per cent, followed by IT and teck. Broader indices followed the ...
Spinz brand of perfumes in sachet from CavinKare
: Fast moving consumer goods major CavinKare Friday announced the launch of premium perfumes in sachets, under its popular personal care brand Spinz. Following the launch of the product, the city-based company aims to make the high-cost perfume segment affordable and accessible across markets in the country. CavinKare aims to revolutionise the fragrance segment by introducing perfumes by global experts, in a pocket-friendly format, a company statement said. "The innovation behind packing perfume as a one-time usage product in a sachet form will bring in a wind of change in the FMCG industry," CavinKare director and chief erxecutive officer (personal care and alliances) Venkatesh Vijayaraghavan said. He said the rural segment was contributing nearly 40-45 per cent of total revenue in the industry. "The revival of rural demand and increase in customer appetite has opened a wide scope for introduction of newer products and innovations," he said. The Spinz sachet perfume is ..
Ola, Hyundai in talks for USD 300 mn fund infusion
Ola is in talks with Hyundai Motor Company for investing about USD 300 million in the cab-hailing platform, according to sources. The discussions are at an advanced stage and a deal could be closed in the next few weeks, sources said. If the deal goes through, it would be Hyundai's second investment in the Indian startup ecosystem. Previously, it had led a Rs 100-crore funding round in car rental startup Revv. Ola did not respond to an e-mailed query on the development. A Hyundai Motors India spokesperson said the company is "open to cooperation with various potential partners but it is our policy not to comment on market speculation and rumours". The fresh funding will give the Bengaluru-based company more ammunition to compete with rival Uber in India and other markets like Australia, New Zealand and the UK. In February, Ola had announced that Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in the company. The investment was in Sachin's personal capacity and was ...
Barometers end with modest losses
Key equity indices ended with small losses. The barometer index, the S&P BSE Sensex, fell 53.99 points or 0.15% to 36,671.43, as per the provisional closing data. The Nifty 50 index fell 22.80 points or 0.21% to 11,035.40, as per the provisional closing data. The Nifty managed to end above the psychological 11,000 mark.
Gold rises Rs 200 on renewed demand, firm trend overseas
Snapping its downward trend, gold prices Friday witnessed a rise of Rs 200 to Rs 33,270 per 10 grams at the bullion market here on fresh buying from jewellers amid firm trend overseas, according to the All India Sarafa Association. Tracking gold, silver advanced by Rs 120 to Rs 39,100 per kg due to increased offtake by industrial units. Traders said with China's export data registering a decline thereby indicating a weaker global economic outlook, led to safe-haven buying from the jewellers. Besides, firm trend overseas aided in upward movement of the yellow metal, they added. Globally, spot gold traded higher at USD 1290.60 an ounce and silver held steady at USD 15.08 an ounce in New York. In the previous six sessions, gold had lost total Rs 1,130. In the national capital, gold of 99.9 per cent and 99.5 per cent purities gained Rs 200 each to Rs 33,270 and Rs 33,100 per 10 grams, respectively. However, sovereign gold held steady at Rs 26,400 per 8 grams. Silver ready rose by Rs 120 ..
KNR Constructions advances after order win
KNR Constructions rose 2.22% to Rs 239.75 at 15:03 IST on BSE after the company said it has bagged hybrid annuity project with total bid project cost of Rs 920 crore.
Varun Beverages begins trial production at greenfield facility in Punjab
Varun Beverages on Friday announced the inauguration of its Rs 550 crore greenfield facility here to produce fruit juices, dairy-based products, carbonated soft drinks, mineral water, sports drink and ice tea.Spread across 40 acres, it is the first fully-backward integrated facility in the country to manufacture a range of products at a single location. It is poised to create more than 5,000 direct and indirect jobs."PepsiCo started its India journey from Punjab over 30 years ago. This latest investment is a reiteration of our commitment to our India business growth story," said company's President and CEO Ahmed ElSheikh."The new facility will act as a hub to address the growing demand for our beverage portfolio among consumers in the state and beyond," he said.Chairman of Varun Beverages Ravi Jaipuria said the facility is strategically located close to target markets which will reduce time to market and enable optimisation of freight and logistics costs, aiding margin expansion."The .
USFDA issue warning letter for Jubilant Pharma's facility at Roorkee
However, the company believes that the existing manufacturing and sale of products from this facility will not be impacted. US revenues from the facility is about 4% of the total revenues of the company.
Vice President pushes for intensifying trade ties between India, Costa Rica
Vice President Venkaiah Naidu on Thursday (local time) pushed for closer trade ties between India and Costa Rica during India's first VVIP visit to the Central American country."In his first engagement in Costa Rica, VP @MVenkaiahNaidu addressed #IndiaCostaRica Business Forum following a presentation by @comexcr Minister Dyala Jimenez. Called for cooperation in innovative technologies, Biotech, Agriculture, Renewables among others," Raveesh Kumar, the Ministry of External Affairs Spokesperson tweeted on Friday."Both our countries share close business ties.
Nasscom to develop IT corridor in eastern China
Indian IT apex body Nasscom on Friday said it has entered into a partnership with Xuzhou city in Jiangsu province to develop an IT corridor in eastern China.
Arvind Ltd leads losers in 'A' group
Power Finance Corporation Ltd, Wipro Ltd, NBCC (India) Ltd and Dish TV India Ltd are among the other losers in the BSE's 'A' group today, 08 March 2019.
Manappuram Finance kick-starts doorstep gold loan delivery to customers in Delhi, Mumbai
Manappuram Finance Friday said it would offer door-step delivery of gold loan to customers in Delhi and Mumbai. The company will offer the doorstep facility across 50 branches each in Mumbai and in Delhi, it said in a release. The service was piloted and launched successfully last year in Chennai and Bengaluru where it is available across 107 and 183 branches, respectively. "Customer centricity has been one of the foundational pillars...With this launch, we address the convenience and security factors in one go, as customers don't have to commute with gold or cash, and the money gets transferred directly to their accounts," said Joshy V K, head of sales, online gold loan, Manappuram Finance. The company said it has also introduced a helpline for customers who wish to avail this service in Delhi and Mumbai. The service is available during office hours on 09072606215 for Mumbai and 09072606202 for Delhi. Two employees of the company carrying proper identification will visit the ...
Real Estate Sector Expected To Contribute 13% To India's GDP By 2025
According to a latest update from the FICCI, since 2016, the Indian real estate sector has been going through a tumultuous time. The triple effect of the Real Estate (Regulation and Development) Act (RERA), demonetization and the Goods and Services Tax (GST) hit the industry one after the other, bringing it to a complete standstill for a while. Today, a recovery is being witnessed in the industry, with sales gradually picking up and prices stabilizing, the study titled Indian real estate: Demystifying the new tax and regulatory environment noted.