Page 760 - Business Finance
Magellanic Cloud consolidated net profit rises 63.16% in the December 2018 quarter
Sales rise 25.05% to Rs 52.82 crore
Next Mediaworks consolidated net profit declines 60.71% in the December 2018 quarter
Sales rise 3.58% to Rs 21.99 crore
Mapro Industries reports standalone net loss of Rs 0.80 crore in the December 2018 quarter
Reported sales nil
8K Miles Software Services consolidated net profit rises 3.01% in the December 2018 quarter
Sales rise 16.38% to Rs 260.56 crore
City Online Services reports consolidated net loss of Rs 0.01 crore in the December 2018 quarter
Sales decline 27.00% to Rs 3.11 crore
Rupee rises for 2nd day; up 21 paise to 70.28 vs USD on easing crude prices
The rupee rallied by 21 paise to close at 70.28 against the US dollar Wednesday on easing crude oil prices even as the greenback strengthened vis-a-vis other major currencies. Forex traders said heavy buying in domestic equities and robust foreign fund inflows also propped up the rupee. This is the second successive session of gain for the domestic currency, during which it has climbed 64 paise. At the Interbank Foreign Exchange (forex) market, the rupee opened on a weak note at 70.60. Intra-day, it fluctuated between 70.67 and 70.25, before finally closing at 70.28, up 21 paise over its previous close. On Tuesday, the rupee had rebounded by 43 paise to finish at 70.49 against the US dollar. Brent crude, the global oil benchmark, was trading at USD 65.61 per barrel, lower by 0.38 per cent. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 96.92. "Dollar is trading up for the sixth consecutive session as the ...
JF Asset Management settles case with Sebi
JF Asset Management, the subsidiary of JP Morgan Asset Management, has settled a case with Sebi regarding the alleged delay in submitting application for acquiring shares in Multi Commodity Exchange (MCX). The company paid Rs 5.15 lakh to settle the case with the markets regulator, according to an order. The regulator, on examination, "prima-facie" found that during January 2017, JF Asset along with persons acting in concert like JP Morgan Eastern Smaller Companies Fund, JP Morgan Indian Investment Company (Mauritius) Ltd, JF India Active Open Mother Fund, among others, acquired certain number of shares in MCX. The acquisition increased JF Asset's shareholding in the commodity exchange beyond 2 per cent, Securities and Exchange Board of India (Sebi) said. Post acquisition, the company was required to apply for approval of Sebi within 15 days. However, the application was forwarded only after a period of more than one year on March 8, 2018, and thereby violated Securities Contracts ...
Mercedes "cautiously optimistic" on growth in election year
Luxury car maker Mercedes Benz on Wednesday said that it is "cautiously optimistic" about growth prospects in 2019 since it is an election year. "This is an election year. So, we are cautiously optimistic about growth in the first half as people are deferring purchases. We expect that there will growth in the second half," MD and CEO of Mercedes Benz India Martin Schwenk said. Schwenk said that the company sold 15,538 units in 2018 and expects to hold on to its leadership position in the luxury car segment in India with a market share of close to 40 per cent. As of now, the company has 24 models which are being sold in India, of which nine are produced at its Pune plant. The company has invested Rs 2,200 crore in the Pune facility so far. Schwenk said India is a big market for Mercedes Benz and the focus would be on Tier II and III cities of the country. Schwenk said the company would launch more than 10 models in 2019. He said the sedan and SUV segments would see some .
DBS Bank to triple business in another five years
Singapore-based DBS Bank expects the business of its Indian subsidiary to triple from the present Rs 55,000 crore in another five years, a top official said Wednesday. With a 2.5 million customer base, the bank's balance sheet will cross Rs 1.65 lakh crore in the next five years, its CEO Surojit Shome told reporters here. The bank intends to establish over 100 customer touch points -- a combination of branches and kiosks across 25 cities in the next 18 months, he added. Shome, here to inaugurate a new branch, the fourth in Tamil Nadu, said the bank, which is present in 12 cities, will open 12 more branches, including five in rural areas, by March-end.
Sensex ends 194 points higher; mid-caps, small-caps gains
A sharp fall in crude oil prices along with continuous foreign fund inflows helped the major indices -- Sensex and Nifty -- to gain over 0.50 per cent each on Wednesday.
Delhi and Mumbai Among Best Performing Hospitality Markets in the Region, Strong Domestic Travel Growth to Drive Demand in India: Colliers International India
/ -- The Asia Pacific region is expected to lead the way for global growth in 2019, with the International Monetary Fund expecting the region's GDP to rise by 5.6% this year, compared with a global increase of 3.9%. China, predicted to grow 6.4% in 2019, and India, predicted to grow 7.3%, will again lead the way. Hotels across Asia Pacific have had a mixed performance in 2018, with overall room occupancy and average daily rate (ADR) showed a slight increase at 70.6% and US$102.47, respectively. This resulted in RevPAR for the region showing growth of some 1.5% for the year. However, its noted this figure may have well been improved given ADR would have been negatively impacted by forex currency movements rather than economic fundamentals. In terms of room occupancy, Bali, Beijing, Delhi-NCR, Jakarta, Mumbai and Taipei were the stand-out performers, with year-on-year growth in excess of 2%, according to STR. Hanoi, KL, Osaka, Phuket, Sanya and Shanghai being the worst performers. The .
Bain & Company Names Satish Shankar as Regional Managing Partner for Asia Pacific Region
/ -- After six successful years in the role, Dale Cottrell returns to focus on client service as part of the firm's 'servant leader' model Bain & Company, the global business and management consultancy, announced today that Satish Shankar, a more than 20-year veteran of the firm, will take on the role of Regional Managing Partner for Asia Pacific (APAC), effective April 1st. His appointment was announced by Worldwide Managing Partner, Manny Maceda. Mr. Shankar will continue to be based in Singapore. Mr. Shankar was most recently the Managing Partner for Bain & Company's Southeast Asia (SEA) region, a position he held for five years. Under his tenure, the company experienced strong double digit growth across the region, with a strong emphasis on making Bain the best place for business talent, building a strong track record of driving tangible results with clients, and helping to develop the firms' new offices in Indonesia, Malaysia and Thailand into some of the most successful
Nifty settles above 11,000
Domestic stocks logged gains for third consecutive session of trade on steady buying demand in index pivotals. Gains were led by index heavyweights Reliance Industries, ICICI Bank and HDFC. The Nifty ended above the psychologically important 11,000 mark.
Quick Wrap: Nifty Energy Index records a surge of 1.68%
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Modi unveils various infrastructure projects in TN
Prime Minister Narendra Modi on Wednesday unveiled various infrastructure projects in the energy, road and railway sectors in Tamil Nadu.
Yatra eyes over 20 pc growth in revenue over next 3 financial years
Online travel firm Yatra.com Wednesday said it is looking at over 20 per cent growth in revenue over the next three financial years as it strengthens presence across various verticals. "We continue to look at an over 20 per cent growth. This year also, our guidance is for over 20 per cent growth and in the medium term, we should be able to maintain this type of growth rate," Yatra.com co-founder and Chief Executive Officer Dhruv Shringi told PTI. This expected growth is for the medium term that is for three fiscal years, he added. Shringi was speaking on the sidelines of the 'Tourism and Travel Tech Conference' organised by the Internet and Mobile Association of India (IAMAI) and Incredible India. The company had posted a revenue of around Rs 731 crore in 2017-18. When asked about the revenue mix for the company, he said: "Currently, around 60 per cent of our revenue comes from the consumers business and 40 per cent from the corporate business and B2B (business-to-business)." Consumer
Ayushman Bharat on way to become world's largest free healthcare scheme: Jaitley
Finance Minister Arun Jaitley Wednesday said the Pradhan Mantri Jan Arogya Yojana (Ayushman Bharat) is on its way to become the world's largest free healthcare scheme in just over five months of launch. Billed as the world's largest government healthcare programme, Ayushman Bharat is funded with 60 per cent contribution coming from the Centre and remaining from the states. The central government aims to cover around 50 crore poor people. "In just over five months of its launch #AyushmanBharat #PMJAY is well on its way to become the world's largest free healthcare scheme with 2.2 crore people issued e-cards and over 14 lakh people treated," Jaitley said in a tweet. In another tweet, the Finance Minister said over 9.23 crore toilets have been constructed under the Swachh Bharat Mission, taking the coverage of toilets from 39 per cent in October 2014 to 98.9 per cent in 30 states and Union Territories have become open defecation free. "A national survey, conducted by an independent ...
Only 32 pc water stock left in Maharashtra dams
Dams in Maharashtra have only 32.88 per cent water stock of their total storage capacity as of now, almost 14 per cent less compared to last year, according to a report of the state water resources department. The situation is particularly worrisome in Aurangabad division (falling under the arid Marathwada region) where currently the water stock is just seven per cent against 42.67 per cent around the same time last year, the report said. The state has 3,267 dams and there was 47.74 per cent water stock in them last year around this time. The state government has so far deployed 2,636 tankers to meet the demand of drinking water in rural and semi-rural areas, Public Works Department minister Chandrakant Patil said on Tuesday. There was less storage in dams after last year's monsoon due to erratic showers in the first couple of months of the rainy season followed by long dry spells, an official from the water resources department said. He said as of now, the Konkan ...
Turnover in F&O segment rises
RIL, ICICI Bank and Sun Pharma February 2019 futures most active
Relaxo Footwears' promoters sell 2 pc stake for Rs 181 cr
Promoters of Relaxo Footwears have sold over 24 lakh shares or close to 2 per cent stake in the company for an estimated sum of over Rs 181 crore. The company's promoters -- Ramesh Kumar Dua, Lalita Dua, Gaurav Dua, Rahul Dua and Sakshi Dua -- sold 24.40 lakh shares constituting 1.96 per cent stake in the company on March 5 and March 6 through market sale, according to a regulatory filing. After the transaction, promoters' holding in the company has come down to 35.50 per cent. Relaxo promoters held 37.47 per cent stake earlier. Based on the average weighted price of Relaxo Footwears shares of March 5 at Rs 745.26 apiece, the transaction value is estimated at Rs 181.84 crore. Shares of Relaxo Footwears on Wednesday settled 0.87 per cent lower at Rs 744.20 apiece on the BSE.