Page 963 - Business Finance
Venezuela turns to India for oil exports as U.S. sanctions bite
HOUSTON/MEXICO CITY/MOSCOW (Reuters) - Venezuelan oil company PDVSA is looking to double exports to India as U.S. sanctions hobble deliveries to the United States and Europe.
Global markets greet sign of trade truce extension with glee
LONDON (Reuters) - Investors hungry for progress on a U.S.-China trade war seized on U.S. President Donald Trump's comment that he could let a March 1 deadline for a trade agreement with China "slide", taking this as a cue to buy stocks and sell bonds on Wednesday.
CG Power & Industrial Solutions Ltd leads losers in 'A' group
Indo Count Industries Ltd, Jain Irrigation Systems Ltd, Edelweiss Financial Services Ltd and HEG Ltd are among the other losers in the BSE's 'A' group today, 13 February 2019.
CG Power Q3 loss widens to Rs 150.18 cr
CG Power and Industrial Solutions on Wednesday said its consolidated net loss has widened to Rs 150.18 crore for the December 2018 quarter. The company had posted a consolidated net loss of Rs 28.23 crore in the year-ago period, it said in a BSE filing. However, total income rose to Rs 1,730.99 crore from Rs 1,536.89 crore during the corresponding quarter of 2017-18. During the April-December period, the company's consolidated net loss narrowed to Rs 262.13 crore from Rs 584.08 crore in the year-ago period. Total income during the nine-month period stood at Rs 4,883.86 crore as against Rs 4,568.77 crore in the last financial year.
Adani Transmission profit drops 77.52 pc to Rs 189.22 cr in Q3
Adani Transmission Wednesday reported a 77.52 per cent drop in its consolidated net profit at Rs 189.22 crore in the quarter ended on December 31, 2018, mainly due to higher base last fiscal on account of factoring in one-time income of Rs 742 crore. The company's consolidated net profit was Rs 841.88 crore in the third quarter last fiscal, a company statement said. "The consolidated net profit for third quarter this fiscal is Rs 189 crore compared to Rs 100 crore year ago after eliminating one time income of Rs 742 crore (net of tax)," it added. The total income of the company rose to Rs 2,921.07 crore in third quarter this fiscal from Rs 1,806.50 crore year ago. Gautam Adani, Chairman, Adani Group said, "We aspire to enter into electricity distribution business in key cities and districts in India in pursuit of government of India's vision to enable power for all by 2022". Anil Sardana, MD and CEO of Adani Transmission said, "In the coming years, we have identified key growth areas .
Mnuchin hopes for 'productive' trade meetings in China
BEIJING (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Wednesday he hopes for "productive" trade meetings in China this week, as the two countries seek to hammer out an agreement amid a festering dispute that has seen both level tariffs at each other.
Market turns volatile
Volatility struck bourses in mid-afternoon trade as the key indices regained positive zone soon after hitting day's low in negative zone. At 14:29 IST, the barometer index, the S&P BSE Sensex, was up 40.28 points or 0.11% at 36,193.90. The Nifty 50 index was up 11.60 points or 0.11% at 10,843.
Market trades in a range
The market was trading in a narrow range in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 88.09 points or 0.24% at 36,241.71. The Nifty 50 index was up 25.25 points or 0.23% at 10,856.65.
Motor & General Finance Ltd leads losers in 'B' group
North Eastern Carrying Corporation Ltd, P B A Infrastructure Ltd, Hindustan Fluoro Carbons Ltd and Premier Polyfilm Ltd are among the other losers in the BSE's 'B' group today, 13 February 2019.
Volumes spurt at Thyrocare Technologies Ltd counter
Thyrocare Technologies Ltd notched up volume of 2.31 lakh shares by 14:14 IST on NSE, a 13.2 fold spurt over two-week average daily volume of 17501 shares
Heineken toasts 2019 after beer sales rise in all regions
BRUSSELS (Reuters) - Heineken, the world's second-largest brewer, said higher beer sales and consumers trading up to more expensive drinks will boost earnings in 2019 after reporting growth in every region last year, sending its shares up 4 percent.
TAKE Solutions clocks Q3 net at Rs 36.36 crore
: Life sciences and supply chain management provider TAKE Solutions has recorded profit of Rs 36.36 crore for the October-December 2018 period, the city-based company said Wednesday. For the corresponding period of the previous year, net profit of the company stood at Rs 41.95 crore, TAKE Solutions said in a BSE filing. For the nine month period ending December 31, 2018, net profit went upto Rs 151.33 crore from Rs 114.37 crore. Total revenue for the quarter ending December 31, 2018 grew to Rs 524.33 crore from Rs 409.38 crore. For the April-December 2018 period total revenue rose to Rs 1,529.39 crore from Rs 1,136.86 crore recorded a year ago. The Board at its meeting held Wednesday declared an interim dividend of 30 per cent (0.30 per cent) per equity share of par value Re 1 each for the quarter ending December 31, 2018. Shares of TAKE Solutions were trading at Rs 123.80 apiece down by 1.39 per cent over previous close in BSE.
Himachal Pradesh loan burden reaches Rs 49,745 cr
The total loan burden on Himachal Pradesh has reached Rs 49,745 crore till January 2019, Chief Minister Jai Ram Thakur informed the State Assembly during the ongoing budget session Wednesday. In a written reply to the assembly, the CM said, the maximum limit of taking loan by the state government has been fixed at 3 per cent of the gross domestic product (GDP), which has been estimated at Rs 4,524 crore for 2018-19. The state government has taken a net loan of Rs 1,838.75 crore till January 15 during the current financial year, he added. The state government has not taken up the matter with the centre for waiving the state loan, the CM further said.
Coal India inches higher after decent Q3 earnings
Coal India rose 0.13% to Rs 223.25 at 14:19 IST on BSE after consolidated net profit rose 50.09% to Rs 4566.81 crore on 12.58% rise in net sales to Rs 23385.43 crore in Q3 December 2018 over Q3 December 2017.
Gold remains weak on muted demand
Gold eased by Rs 30 to Rs 34,050 per 10 gram at the bullion market Wednesday on subdued demand from local jewellers even as the yellow metal strengthened overseas. Silver also fell by Rs 200 to Rs 40,800 per kg on reduced enquiries from industrial units and coin makers. Marketmen said the fall in gold prices has been mostly attributed to sluggish demand from local jewellers as well as retailers, but a firming trend overseas limited the fall. Globally, gold rose 0.13 per cent to USD 1,313.10 an ounce in New York as the dollar fell from multi-week highs, raising demand for the precious metal. Silver was up 0.19 per cent to USD 15.80 an ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purities shed Rs 30 each to Rs 34,050 and Rs 33,900 per 10 gram, respectively. The precious metal had lost Rs 200 in the previous two days. Sovereign gold, however, maintained at Rs 26,100 per piece of 8 gram in limited deals. In line with overall trends, silver ready fell by Rs 200 ..
Bharat Forge clocks profit of Rs 309 crore in Q3 of 2018-19
Engineering major Bharat Forge, part of the three billion dollar Kalyani Group, on Wednesday reported that its revenue from operations moved up to Rs 1,692 crore during the third quarter (October to December) of current fiscal year 2018-19.In Q3 of 2017-18, the revenue totalled Rs 1,390 crore.The profit moved from Rs 228 crore to Rs 309 crore in the same period. However, the profit before tax was Rs Rs 469 crore in Q3 of 2018-19 compared to Rs 343 crore in the same quarter of previous year.Total expenses were Rs 1,270 crore compared to Rs 1,069 crore in Q3 of FY18. The earnings per share of Rs 2 moved up to Rs 6.65 from Rs 4.90.The company informed stock exchanges that the board of directors approved re-appointment of Amit Kalyani as Executive Director for five years from May 11, 2019. He has been involved with driving the group's strategy and execution of its diversification over the past decade.Bharat Forge is a Pune-based Indian multinational company involved in automotives, power,
Bosch Q3 net profit rises 19.34 pc to Rs 335.37 cr
Auto component maker Bosch Wednesday reported 19.34 per cent rise in standalone net profit at Rs 335.37 crore for the third quarter ended December 31, 2018. The company had posed a standalone net profit of Rs 281.01 crore in the year-ago quarter, Bosch said in a regulatory filing. Total income during the period under review stood at Rs 3,274.12 crore as compared to Rs 3,174.18 crore in the same quarter last fiscal, it added. Expenses in the third quarter were higher at Rs 2,784.22 crore as compared to Rs 2,751.27 crore in the same period a year ago. Bosch said the board of directors of the company, at its meeting held Wednesday, approved appointment of Bhaskar Bhat as an independent director for a second term of five years with effect from April 1, 2019. Similarly, the board also approved reappointment of Bernhard Steinruecke as an independent director for another term of five years with effect from April 1, 2019. It also approved re-appointment of Andreas Wolf as Joint Managing ...
Himachal's loan liability is Rs 49,745 crore
Himachal Pradesh's loan liability stood at Rs 49,745 crore, Chief Minister Jai Ram Thakur said on Wednesday.
CAG: NDA's Rafale deal 2.86 per cent cheaper than UPA's
The much-awaited Comptroller and Auditor General (CAG) report on the controversial Rs 59,000 crore Rafale deal has found that the agreement signed by the NDA government in 2016 for 36 jets was 2.86 per cent lower than the price negotiated by the UPA government for 126 aircraft.
Shareholders not disadvantaged in transactions with Aditya Medisales: Sun Pharma
Drug major Sun Pharmaceutical Industries has said its shareholders were not disadvantaged in transactions with Aditya Medisales and the company has responded to queries from market regulator Sebi. Aditya Medisales has been the domestic distributor of the drug major but the company has said it would be replaced by a subsidiary of Sun Pharma. Aditya Medisales is reported to have had transactions of over Rs 5,800 crore with a real estate firm, Suraksha Realty that is promoted by Sudhir Valia, who is the brother-in-law of Sun Pharma promoter Dilip Sanghvi. Valia is also an executive director in the pharmaceutical major. "I would like to reassure investors that at no point of time Sun Pharma's shareholders have been disadvantaged in transactions with Aditya Medisales," Sun Pharma MD Dilip Shanghvi said while addressing the conference call Tuesday. Shanghvi was responding to the concern raised by some investors whether Aditya Medisales has benefited in the past at the cost of Sun Pharma's ..