Page 988 - Business Finance

Lancor Holdings consolidated net profit rises 194.19% in the December 2018 quarter

Sales rise 91.42% to Rs 29.67 crore

Rane TRW Steering sets up new unit at Tiruchirappalli

Rane TRW Steering Systems, a joint venture between Rane Group and Germany-based ZF Group, has set up a new facility for manufacturing 'occupant safety products' in Tiruchirappalli. The unit would address the market demand and capacity to localise laser cutting of fabrics and airbag cushion manufacturing for domestic and overseas markets, a company release said Tuesday. The city-based firm said it has invested around Rs 400 million in the new facility, which would have an initial capacity of producing 0.50 million modules per annum of air bags and one million units per annum of seat belt assemblies. "This new state-of-the-art facility will help us address increasing demand for occupant safety products and enable us further localise airbag cushion manufacturing," Rane Group Vice-Chairman Harish Lakshman said. Lakshman is also the Managing Director of Rane TRW Steering Systems Pvt Ltd. The company has planned to ramp up the production of airbags to one million modules per ..

Sensex drops 241 pts ahead of macro data releases; bank, IT stocks crack

The BSE Sensex dropped over 200 points, ending in the negative terrain for the fourth straight session Tuesday, as investors intensified selling towards the fag end of the day, even as global cues remained positive. Realty, IT, FMCG and banking counters witnessed heavy selling ahead of index of the release of industrial production (IIP) data for December and consumer price inflation (CPI) numbers for January. Indices failed to hold on to opening gains as profit-taking re-emerged in the later part of the session, wiping off initial gains, with the BSE Sensex settling 241.41 points, or 0.66 per cent, down at 36,153.62 points. The gauge had lost 580 points in the previous three sessions. The broader Nifty finished at 10,831.40, down 57.40 points, or 0.53 per cent. Top losers include Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 per cent. On the other hand, Sun Pharma, Coal India, Tata Steel, NTPC, Asian ...

Govt, pvt sector need to work in tandem for increasing healthcare affordability: Experts

The government and private players need to work together in healthcare sector to increase affordability of medical services as rising cost impacts access to patients, experts said Tuesday. Arun Mitra, core committee member of the Alliance of Doctors for Ethical Healthcare, suggests that the government should take steps such as 'one drug, one price' formula, strengthening of National Pharmaceutical Pricing Authority (NPPA) and public sector units in pharma sector. These steps would help increase access to affordable medicines to all people, he said at a roundtable meeting on 'Cost of Life Saving Medicines - Is there a way out?', organised by startup Straight Drive. Mitra also emphasised on the need to boost expenditure on R&D by the government on medicines. Priti Nanda Sibal, Founder, AB Hospitals and Mediskool Health Services, said the government should involve all the stakeholders while taking decisions on price regulations for medicines. "Multiple pillars are involved in this ..

China keeping watch on employment trends, preparing policy responses

BEIJING (Reuters) - China's authorities will be closely watching employment trends this year and prepare relevant policy responses to ensure jobs remain stable, Vice Pemier Han Zheng said on Tuesday according to the official Xinhua news agency.

Apple supplier Japan Display to get $700 million bailout from China, Taiwan group: Kyodo

TOKYO (Reuters) - Ailing Apple supplier Japan Display Inc will receive up to 80 billion yen ($723 million) in a bailout from a group of Chinese and Taiwanese investors, Kyodo news agency reported.

GOI Announces Sale Of Five Dated Securities For Rs 12,000 Crore

Powered by Capital Market - Live News

Russia's GDP growth, at six-year high, raises question of durability

MOSCOW (Reuters) - Russia's economic growth climbed to a six-year high in 2018, but the growth was fuelled by one-off factors that mean the goals set by President Vladimir Putin won't be achieved without an increase in household incomes, economists said.

Oil up 1 percent on Saudi and OPEC cuts but outlook picture clouded

LONDON (Reuters) - Oil prices gained about 1 percent on Tuesday, supported by OPEC-led production cuts and U.S. sanctions against Iran and Venezuela, though remain wary of surging U.S. output and the outcome of U.S.-China trade talks.

Current competition in Indian aviation industry not in line with profitability: CAPA

Current competitive dynamics of the Indian aviation industry are not aligned with a profitable structure, market advisory CAPA said Tuesday. The Centre for Asia Pacific Aviation (CAPA) in its outlook for Indian aviation market for the next fiscal also pointed out that a clear long-term strategy is not visible for some carriers. The outlook has come at a time when major Indian airlines have reported a sharp drop in their profits. Budget carrier SpiceJet on Monday reported a massive 77 per cent fall in its net profit at Rs 55 crore owing to higher aviation fuel cost and rupee depreciation. Last month, InterGlobe Aviation, the parent of IndiGo, reported a 75 per cent fall in profit after tax at Rs 190.9 crore in the December quarter as high fuel prices and currency depreciation adversely impacted the bottomline. Pilot shortage remains a "structural" issue for airlines and banks are expected to become "more cautious" with Indian airlines, CAPA said in a presentation during the India ...

Sensex, Nifty decline ahead of IIP, inflation data releases

Domestic equities ended in the negative terrain for the fourth straight session Tuesday, with the BSE benchmark Sensex falling over 200 points as investors intensified selling towards the fag end of the day, even as global cues remained positive. Investors sold heavily on realty, IT, FMCG and banking counters ahead of index of industrial production (IIP) data for December and consumer price inflation (CPI) numbers for January to be released later in the day. Tepid earnings by some more companies and foreign fund outflows also dampened trading sentiments, brokers said. After opening on a positive note, the BSE Sensex advanced to hit an intraday high of 36,465.40 points in opening trade, driven by a firming trend at other Asian markets. However, indices failed to hold on to gains as profit-taking re-emerged in the later part of the session, wiping off initial gains, with the BSE Sensex settling 241.41 points, or 0.66 per cent, down at 36,153.62 points. The gauge had lost 580 points in ..

Market logs modest fall

Key benchmark indices ended with modest losses weighed by selling pressure in late trade. The barometer index, the S&P BSE Sensex, fell 241.41 points or 0.66% at 36,153.62, as per the provisional closing data. The Nifty 50 index fell 57.40 points or 0.53% at 10,831.40, as per the provisional closing data. Sentiment was cautious ahead of release of key domestic macro-economic data.

Air India planning to increase daily utilisation of its aircrafts: Official

State-owned Air India is planning to increase the daily utilisation of its aircrafts both on domestic as well as international routes, a senior company official said Tuesday. According to Air India Director of Finance Vinod Hejmadi the company is planning to use its aircrafts for at least half hour more per day. "Our daily utilisation of airplanes is not very good. It's around 10 and a half hours on Airbus route (domestic routes). We can increase it by half an hour...Even in the international routes, our 787s fly around 12 and a half hours per day. We can increase it to 13 and half hours," he said at CAPA India Aviation Summit 2019. The government has been working on ways to revive the fortunes of Air India, which is estimated to have a debt burden of Rs 55,000 crore. Hejmadi further said that the national carrier would now focus again on United States market by increasing its frequencies, indicating a shift of focus from Europe. "On the international front, we concentrated on Europe .

Debt guarantee tangle: China's private firms hit by default contagion

SINGAPORE (Reuters) - The collapse in China of a complex web of debt guarantees involving several private firms highlights risks in its financial system and opens up a potentially hazardous front for an economy in the grip of its slowest growth in nearly three decades.

Global Markets: Trade talk hopes and shutdown deal buoy stocks

LONDON (Reuters) - World shares and bond yields rode a renewed surge in risk appetite on Tuesday, as investors were optimistic about U.S.-China trade talks and cheered Washington's deal to avoid another government shutdown.

Russia's GDP growth, at six-year high, raises durability question

MOSCOW (Reuters) - Russia's economic growth climbed to a six-year high in 2018, but the growth was fuelled by one-off factors that mean the goals set by President Vladimir Putin won't be achieved without an increase in household incomes, economists said.

Nifty, Sensex extend losses ahead of inflation data

(Reuters) - Indian shares fell on Tuesday, with losses spread across IT and financial stocks, as caution prevailed ahead of a key inflation data due later in the day.

Revathi Advaithi appointed Flex Ltd CEO

Nasdaq listed Flex Ltd (formerly Flextronics) on Tuesday announced the appointment of Revathi Advaithi as its new Chief Executive Officer.

Corporation Bank posts Rs 61 cr Q3 profit

The city-based Corporation Bank clocked a net profit of Rs 61 crore in the October-December 2018 period. The bank had reported a net loss of Rs 1,240 crore during the same period of last fiscal. For the nine month period ended December 2018, the bank posted Rs 249 crore net profit as against the net loss of Rs 2,216 crore year ago, a release from the bank here said Tuesday. Several measures undertaken by the bank to improve its performance had helped it to come out of the losses, the release said. While its current and savings bank deposits ratio to total deposits increased from 25.69 percent as in December 2017 to 29.3 percent in December 2018, the net interest margin also rose from 2.23 percent to 3.19 percent during the period. In recovering dues from written off accounts, the bank said it made substantial progress by getting Rs 3,954 crore for nine month ending December 2018, as against Rs 3,152 crore recovered same period of last fiscal. By focussing on retail ...

Mukand reports standalone net loss of Rs 20.23 crore in the December 2018 quarter

Sales rise 18.19% to Rs 924.59 crore