Page 883 - Business Finance
Mahaveer Infoway reports consolidated net loss of Rs 0.26 crore in the December 2018 quarter
Sales rise 116.24% to Rs 8.52 crore
Marsons reports consolidated net profit of Rs 0.79 crore in the December 2018 quarter
Reported sales nil
Ships Built In India Set To Get Priority In Chartering
In a big step to promote the Make in India initiative and incentivize ship building activity in the country, the Ministry of Shipping has revised its guidelines for chartering of ships by providing Right of First Refusal (RoFR) to ships built in India. Henceforth, whenever a tendering process is undertaken to charter a vessel, a bidder offering a ship built in India will be given the first priority to match the L1 quote. It is expected that this priority given to ships built in India will raise the demand for such vessels, providing them with additional market access and business support.
Singapore-based BIGO announces $100 mn investment in India
Singapore-based social media platform BIGO Technology on Monday announced an investment of over $100 million to expand its business in India in the next three years, creating nearly 1,000 jobs.
JSPL bags additional order from Indian Railways for 30,000 tonnes long rails
Soon after bagging its first ever order from Indian Railways for the supply of close to 1 lakh tonne in 2018, Jindal Steel and Power Limited (JSPL) has been awarded an additional order for supply of 30,000 tonnes under the same global tender.The additional order enhances the order size by over 30 per cent, with the overall order size now estimated at around Rs 650 crore."JSPL endeavours to emerge as the most preferred supplier of rails to Indian Railways for building and modernising domestic rail network," said Joint Managing Director Naushad Ansari in a communication to stock exchanges on Monday.So far, JSPL has supplied close to 62,400 tonnes of rails out of the earlier order and is on track to complete the 1 lakh tonne order ahead of time.Indian Railways had floated a global tender for procurement of rails for the first time. Till JSPL became the first private sector rail manufacturer to supply rails, all requirements were being supplied by the government-owned Steel Authority of ..
Sensex, Nifty trim intraday losses
The market came off day's low in early afternoon trade. At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 205.67 points or 0.57% at 35,603.28. The Nifty 50 index was down 67.30 points or 0.63% at 10,657.10.
Oil prices near 2019 highs on supply cuts, trade talk optimism
SINGAPORE (Reuters) - Oil prices on Monday hit their highest levels since November last year, lifted by OPEC-led supply cuts, U.S. sanctions against Iran and Venezuela, and hopes that the Afro-American trade dispute may soon end.
SC admits SLP filed by Reliance Infrastructure against DMRC
The Supreme Court has entertained a special leave petition (SLP) filed by Reliance Infrastructure's special purpose vehicle Delhi Airport Metro Express Pvt Ltd (DAMEPL) challenging the judgement of Delhi High Court, which set aside the Rs 5,800 crore arbitral award won by DAMEPL against Delhi Metro Rail Corporation (DMRC).Reliance Infrastructure informed stock exchanges on Monday that the Supreme Court has issued a notice to DMRC in the SLP.A short notice was also issued to DMRC on DAMEPL's plea for interim relief so that DMRC continues to service the debt of DAMEPL pending the disposal of SLP by the apex court.DAMEPL had filed the SLP in the Supreme Court after a division bench of the Delhi High Court had set aside an order of the single judge bench upholding the over Rs 5,800 crore arbitral award in favour of DAMEPL against DMRC.Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several ..
Oil Country Tubular Ltd leads gainers in 'B' group
Madhucon Projects Ltd, Cybertech Systems & Software Ltd, Jiya Eco-Products Ltd and Landmark Property Development Company Ltd are among the other gainers in the BSE's 'B' group today, 18 February 2019.
China Stocks rise surges on Sino-U.S. trade optimism
Mainland China stocks received a lift after Wall Street surged on Friday as the United States and China reported progress in five days of negotiations in Beijing last week. After the markets closed on Friday, China and the U.S. announced plans to resume trade negotiations in Washington, fueling hopes that both countries were edging toward a deal.
Reliance Communications Ltd leads gainers in 'A' group
Reliance Power Ltd, Reliance Infrastructure Ltd, Dish TV India Ltd and Dewan Housing Finance Corporation Ltd are among the other gainers in the BSE's 'A' group today, 18 February 2019.
Australia Market gains 0.4% on trade optimism
Australian stocks received a lift after Wall Street surged on Friday as the United States and China reported progress in five days of negotiations in Beijing last week. After the markets closed on Friday, China and the U.S. announced plans to resume trade negotiations in Washington, fueling hopes that both countries were edging toward a deal.
Japan Nikkei surges on Sino-U.S. trade optimism
Japanese stocks received a lift after Wall Street surged on Friday as the United States and China reported progress in five days of negotiations in Beijing last week. After the markets closed on Friday, China and the U.S. announced plans to resume trade negotiations in Washington, fueling hopes that both countries were edging toward a deal.
Sensex, Nifty fall; Yes Bank slides amid RBI glare
(Reuters) - The Sensex and Nifty declined on Monday, dragged by market heavyweights, while Yes Bank continued to reel under pressure from the central bank.
Kurl-on to Invest 200 Crores in Innovation and new Technology to Double Product Portfolio in the Next Two Years
/ -- - To consolidate brand's growth in home furniture & furnishings segment - Introduces 'STR8' technology for the first time in India, caters to a growing majority leading hectic lifestyles with less physical exercise and sleep disorders Kurl-on, India's leading & largest selling mattress, home furniture and furnishing brand, today announced the launch of 'STR8 Technology'- a first-of-its-kind innovation that provides the right balance of firmness and softness in mattresses enabling appropriate muscle relaxation and growth, much needed for the vast majority of people today, leading hectic lifestyles with very less exercise. Additionally, it makes the mattress 20-40% lighter, making it easy to use and maintain. The new technology to be introduced in Kurl-on's coir mattresses at first, before it is gradually extended to the foam and spring mattresses as well will be a key differentiator for Kurl-on's mattresses besides reiterating the brand's synonymous association with ...
Benchmarks hit fresh intraday low
Key benchmarks further extended losses and hit fresh intraday low in mid-morning trade. At 11:29 IST, the barometer index, the S&P BSE Sensex, was down 276.57 points or 0.77% at 35,532.38. The Nifty 50 index was down 82.70 points or 0.77% at 10,641.70. Auto and FMCG shares fell across the board.
Dr Reddy's Labs rises as USFDA concludes inspection
Dr Reddy's Laboratories rose 1.18% to Rs 2,587 at 11:25 IST on BSE after the company said that USFDA has closed the inspection of its formulations manufacturing facility at Duvvada, Visakhapatnam.
Markets continue to slide, Sensex slips 190 points in early trading
Equity benchmark indices opened with a flat note on Monday but slipped into the negative zone minutes after trading kickstarted amid many gloomy corporate results for third quarter.At 11:00 am, the Sensex was down 190 points at 35,619 while the Nifty slipped 59 points to 10,665.Asian Paints, Bajaj Finserve and HCL Tech were down by over 2 per cent while Yes Bank slipped 1.96 per cent after it received a warning from the Reserve Bank of India (RBI) that the lender may face regulatory actions for violating a confidentiality clause by disclosing a nil divergence report.Tech Mahindra, Dr Reddy Labs, Tata Steel, and Vedanta were trading marginally higher.In currency markets, the Indian rupee opened lower by 8 paise at 71.31 against the US dollar amid a rise in crude oil prices.Meanwhile, Asian stock markets were trading higher with trade talks between the United States and China scheduled for this week in Washington after a series of high-level meetings in Beijing concluded last week.
Aircel-Maxis case: Interim protection from arrest of Chidambaram, Karti extended till Mar 8
A Delhi court on Monday extended till March 8 the interim protection from arrest granted to former finance minister P Chidambaram and his son Karti Chidambaram in connection with the Aircel-Maxis case.The Enforcement Directorate (ED) counsel informed the Patiala House Court that Karti has been asked to appear before it for questioning on March 5, 6, 7 and 12 for his alleged role in the Aircel-Maxis and INX Media cases. The ED also pleaded that the matter be posted for hearing after March 12. However, senior advocates Kapil Sibal and A M Singhvi, appearing on behalf of the father-son duo, opposed the agency's request.The Aircel-Maxis case emerged out of the 2G spectrum cases, pertaining to an approval granted to a Mauritius-based firm, M/S Global Communication and Services Holdings Limited, by the Foreign Investment Promotion Board (FIPB) for investment in Aircel.The FIPB approval was allegedly granted in 2006 when Chidambaram was the finance minister. According to the rules and ...