Page 867 - Business Finance
Section of employees at MRF's Tiruvottiyur plant on strike
Tyre maker MRF said Tuesday a large number of workmen at its manufacturing plant at Tiruvottiyur near Chennai are on strike since February 2. The strike is illegal and the notice of the strike, including reasons for the same, has not been served on the company, MRF Ltd said in a regulatory filing. The workmen are objecting to the installation of CCTV cameras in the factory premises, it added. "It may also be noted that installation of CCTV cameras is a requirement under the prevailing laws in Tamil Nadu," MRF said. The company's management is also making efforts to reach an amicable settlement with the Union regarding wage revision agreement, it added. "The same has been inconclusive and consequently the same is pending for adjudication before the Industrial Tribunal in Chennai," the tyre maker said. The operations of the factory are being partly continued with the help of the workmen who are not part of the strike, it said adding that the company is taking necessary steps to restore .
India Inc upbeat on investment, plans 10 pc more in next 2 years: Baker McKenzie
Most of the mid-to-large sized Indian corporates plan to increase their investment by 10 per cent in next two years regardless of political uncertainties, global law firm Baker McKenzie said Tuesday. "Despite some political uncertainty, a pulse survey of 100 C-suite executives in India found more than three quarters of mid-to-large sized Indian companies still plan to increase domestic investment by at least 10 per cent over the next two years," Baker McKenzie said here at a media roundtable. The credit for the positive sentiment goes to improvement in ease of doing business, Prime Minister Narendra Modi at the helm of affairs of the country and implementation of GST and Insolvency and Bankruptcy Code (IBC), according to the law firm. "The outbound investment is very much measured. On the inbound side, we have seen quite a bullish interest from international multinationals willing to invest in India. Generally speaking, most of the investors mark India and China as the most important .
Mayukh Dealtrade reports standalone net profit of Rs 0.01 crore in the December 2018 quarter
Sales reported at Rs 0.05 crore
Lakshmi Finance & Industrial Corporation standalone net profit declines 70.63% in the December 2018 quarter
Sales decline 60.12% to Rs 0.65 crore
Kavita Fabrics reports standalone nil net profit/loss in the December 2018 quarter
Sales decline 60.00% to Rs 0.46 crore
Auroma Coke reports standalone net profit of Rs 0.06 crore in the December 2018 quarter
Sales rise 27.56% to Rs 5.97 crore
Tirupati Fincorp reports standalone net loss of Rs 0.02 crore in the December 2018 quarter
Sales decline 72.73% to Rs 0.03 crore
NPR Finance standalone net profit declines 92.59% in the December 2018 quarter
Sales rise 27.99% to Rs 8.78 crore
Ambuja Cements consolidated net profit rises 138.22% in the December 2018 quarter
Sales rise 9.00% to Rs 6728.68 crore
Huhtamaki PPL standalone net profit declines 14.23% in the December 2018 quarter
Sales rise 9.04% to Rs 603.58 crore
Creative Peripherals & Distribution standalone net profit rises 71.08% in the December 2018 quarter
Sales rise 62.61% to Rs 98.80 crore
Shivalik Bimetal Controls standalone net profit rises 91.86% in the December 2018 quarter
Sales rise 8.69% to Rs 45.28 crore
DGFT armed with fresh resources to revamp IT infrastructure to boost logistics sector: Suresh Prabhu
Govt allocates Rs 132 crore to DGFT to revamp IT infrastructure for upgradation of logistics
Sensex ends lower for ninth consecutive day; IT finish 2% lower
Major indices Sensex and Nifty fell for the ninth consecutive trade session on Tuesday after heavy selling in the final hour of the trade on account of profit booking.
Industry seeks Telangana, Tamil Nadu-like sops in MP
A group of industrialists which met Madhya Pradesh Chief Minister Kamal Nath Tuesday demanded that the Congress government in the state provide concessions to the industry on the lines of Tamil Nadu and Telangana. Nath held a round-table meeting with 61 industrialists and head honchos of business groups here to understand the industry's needs and attract investment, he told reporters. "I held talks with them for more than two-and-half hours," he said. "They sought sops and business environment like that in Tamil Nadu and Telangana....We are going to draft industrial policies sector-wise. Every sector has its own concerns which will be addressed in the policies," Nath added. A confectionery industry cluster would be set up soon as demanded by the industry representatives, he said. "Six or seven experienced middle-aged officers will be deputed to solve industrialists' problems and facilitate investment. They will report directly to me," the chief minister said. Asked about .
Indices close in the red as last trading hour wipes out early gains
Equity benchmark indices erased morning and afternoon gains on Tuesday and slipped into negative zone amid heavy selling pressure in select high-profile stocks.The BSE S&P Sensex and the Nifty 50 rose in early trading, bolstered by gains in broader Asian markets amid optimism over on-going US-China trade talks in Washington.Market experts said the Reserve Bank of India's decision to hand the government an interim dividend may also have spurred optimism.But the last hour was crushing. The Sensex closed 146 points down at 35,352 while the Nifty closed 37 points down at 10,604.IT space was a major drag among the sectors followed by pharma and energy. Buying was seen in FMCG, metal and PSU bank scrips.TCS, Infosys, Wipro and IndusInd Bank were the top losers while Vedanta, Grasim Industries and BPCL were the top gainers.
mjunction forges alliance with Ukraine based digital company
Leading e-commerce player mjunction, Tuesday said it has entered into a strategic alliance with a Ukraine-based company. mjunction forged alliance with SHIPNEXT Trading Ltd, a digital automated marketplace and network shipping firm. mjunction has been providing online ocean vessel chartering services for the past four years to enable its clients to transparently discover charter rates through competitive bidding, a statement said. With this alliance, mjunction plans to fulfill the emerging needs of its clients such as vessel tracking, price benchmarking and cargo consolidation. They will also get direct access to SHIPNEXTs panel of ship owners and operators, it said. This alliance will help mjunction buyers and sellers have complete visibility of their marine supply chain such as location of ship.
Alibaba boosts stake in investment bank CICC for $231 million
SINGAPORE (Reuters) - China's e-commerce giant Alibaba Group Holding Ltd has raised its stake in top domestic investment bank China International Capital Corp's Hong Kong-listed shares to nearly 12 percent, an exchange disclosure showed on Monday.
Cloud4C Expands Footprint in South Korea to Empower Digital Transformation on Cloud for Enterprises
/ -- Cloud4C opened an office in South Korea to help businesses tap into the power of multi-cloud environments, without the complexity and cost of managing them in-house. (Logo: https://mma.prnewswire.com/media/788498/Cloud4C_Logo.jpg ) Today, companies of all sizes are actively either experimenting with or implementing cloud. Enterprises are leveraging cloud to enhance, extend and invent new customer value propositions and they look for a Cloud Partner who can help enterprises in their Digital Transformation Journey. The focus of this new facility will be to provide clients and partners a range of offerings in areas pertaining to cloud services and to be their trusted Cloud partner. Sridhar Pinnapureddy, Founder and CEO of Cloud4C, said, "The opening of our new office will provide customers and partners in the region access to next-generation cloud technologies, skills and talent that will help them reshape what's next. This is in line with our strategy focused on scaling business ..
Despite sanctions, Iran's oil exports rise in early 2019 - sources
LONDON (Reuters) - Iran's exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from U.S. sanctions.