Page 990 - Business Finance
Tea exports fall marginally in 2018 calendar year
Tea exports from India fell marginally to 249.11 million kilograms during January to December 2018, as compared to 251.91 million kilograms in the same period the previous year. Average unit price per kilo during the last calendar year stood at Rs 206.03 as against Rs 197.99 in the previous year, according to Tea Board data. Exports to the CIS bloc decreased to 61.10 million kilograms between January and December 2018, from 64 million kilograms in the previous similar period. Exports to Iran, another major importing country, increased to 30.60 million kilograms during the 12-month period as against 29.57 million kilograms in the previous similar period. The Tea Board, which had been pushing hard to boost exports to China, met with partial success as 10.22 million kilograms were shipped in 2018, as compared to 8.52 million kilograms in the previous calendar year. Exports to Pakistan saw an increase during the period and stood at 15.83 million kilograms during 2018 as ...
Volumes soar at P I Industries Ltd counter
P I Industries Ltd recorded volume of 7.57 lakh shares by 14:14 IST on NSE, a 9.91 times surge over two-week average daily volume of 76398 shares
Indian conglomerate Lohia acquires Israel's Light & Strong
TEL AVIV (Reuters) - Indian conglomerate Lohia Group said on Tuesday it acquired Israel's Light & Strong Ltd, a maker of carbon fibre and glass fibre composite components for the aerospace and defence sector.
Jio tops in 4G availability, Airtel fastest during July-Dec 2018
Reliance Jio topped in terms of 4G availability among the telecom service providers with 98.8 per cent availability during the second half of 2018, an Ookla report said on Tuesday.
Hotel Leelaventure Q3 profit up 8 pc at Rs 44 cr
Hotel Leelaventure Tuesday reported 8.58 per cent rise in standalone net profit at Rs 44.14 crore for the third quarter ended December 31, 2018. The company had logged a profit of Rs 40.65 crore in the year-ago period, Hotel Leelaventure said in a filing to BSE. Revenue from operations stood at Rs 209.06 crore in the latest quarter as against Rs 203.61 crore in October-December 2017, it said. Shares of Hotel Leelaventure were trading at Rs 13.67 per scrip on BSE, up 5.07 per cent from the previous close.
Gold falters on weak global cues, tepid demand
Gold prices fell by Rs 145 to Rs 34,080 per 10 gram at the bullion market Tuesday in sync with a weak global trend amid sluggish demand from local jewellers, according to All India Sarafa Association. Silver too drifted down by Rs 100 to Rs 41,000 per kg due to low offtake from industrial units and coin makers. According to traders, gold faltered tracking a weak trend overseas as a stronger dollar reduced appeal of the precious metal as a safe-haven investment. Globally, gold fell 0.01 per cent to USD 1,308.70 an ounce while silver rose 0.13 per cent to USD 15.80 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purities declined by Rs 145 each to Rs 34,080 and Rs 33,930 per 10 gram, respectively. It had lost Rs 55 on Monday. Sovereign, however, remained unaltered at Rs 26,100 per piece of eight gram. In step with gold, silver ready eased by Rs 100 to Rs 41,000 per kg while weekly-based delivery dropped Rs 158 to Rs 39,829 per kg. Silver coins ...
Finmin spent Rs 1,157 cr extra in 2017-18 without obtaining prior approval: CAG
The Ministry of Finance spent Rs 1,157 crore on various heads during 2017-18 without obtaining prior approval of Parliament, the Comptroller and Auditor General (CAG) report tabled in Parliament Tuesday said. Excess expenditure aggregating Rs1,156.80 crore was incurred during 2017-18 without obtaining prior approval of Parliament, the CAG report 'Financial Audit' of the Accounts of the Union Government said. The report further noted that the Ministry of Finance did not devise a suitable mechanism in respect of new service/new instrument of service, which led to the extra spending. The Department of Economic Affairs under finance ministry failed to obtain legislative approval for augmenting provision (for extra expenditure), the report added. "As per the guidelines, any augmentation of provision by way of re-appropriation to the object heads (i) grants-in-aid (ii) subsidies (iii) major works attracts limitation of New Service (NS)/New Instrument of Service (NIS) and hence require prior
Hindalco Industries firms up after Q3 results
Hindalco Industries was up 0.58% to Rs 200.50 at 14:22 IST on BSE after the company reported Q3 December 2018 results during trading hours today, 12 February 2019.
Hindalco third-quarter profit plunges on higher input costs
(Reuters) - Aluminium producer Hindalco Industries Ltd posted a 34.4 percent drop in third-quarter profit on Tuesday, hurt by increase in input costs, mainly of coal and furnace oil.
Peninsula Land to invest Rs 160 cr to develop 600 apartments in Pune
Ashok Piramal Group's realty firm Peninsula Land Tuesday said it will invest Rs 160 crore to develop 600 apartments in the second phase of its affordable housing project in Pune. The Mumbai-based real estate firm had in April last year launched 900 units in the first phase of the 50-acre project -- addressOne -- located at Gahunje, Pune. The project cost was Rs 200 crore. The company has launched the second phase named 'addressOne Central Park' to develop 600 apartments, Peninsula Land said in a statement. The project received a good response in the first phase, Vice Chairman and MD Rajeev Piramal said. "We plan to invest a further Rs 160 crore in developing 600 apartments in the second phase. At Peninsula Land, we believe in providing homes that are affordable and yet offer luxurious amenities to our customers," he added. Peninsula has tied up with Home Capital that will provide home buyers interest free loan on stamp duty and registration. The project is also PMAY (Pradhan Mantri ...
Nissan books $84 million Ghosn-related charges, cuts outlook
YOKOHAMA, Japan (Reuters) - Nissan Motor Co said it had booked around $84 million in charges related to under-reported compensation for ousted chairman Carlos Ghosn, and slashed its annual profit outlook on weaker global sales.
Benchmarks hit fresh intraday low; metal shares advance
Key benchmarks trimmed losses after hitting fresh intraday low in afternoon trade. At 13:19 IST, the barometer index, the S&P BSE Sensex, was down 62.51 points or 0.17% at 36,332.52. The Nifty 50 index was down 16.35 points or 0.15% at 10,872.45. Metal shares bucked weak market trend.
PVR Ltd eases for fifth straight session
PVR Ltd is quoting at Rs 1461.9, down 2.21% on the day as on 13:24 IST on the NSE. The stock jumped 4.01% in last one year as compared to a 3.55% rally in NIFTY and a 33.81% fall in the Nifty Media index.
HDFC Life Insurance Company Ltd falls around 1%
HDFC Life Insurance Company Ltd is quoting at Rs 352.9, down 1.04% on the day as on 13:24 IST on the NSE. The stock tumbled 23.8% in last one year as compared to a 3.55% rally in NIFTY and a 9.09% fall in the Nifty Financial Services index.
MRF Ltd drops for fifth straight session
MRF Ltd is quoting at Rs 55111.55, down 0.42% on the day as on 13:19 IST on the NSE. The stock tumbled 23.8% in last one year as compared to a 3.55% rally in NIFTY and a 26.76% fall in the Nifty Auto index.
Thyssenkrupp's warns of economic pressure as profit falls
FRANKFURT/DUESSELDORF (Reuters) - Steel-to-elevators group Thyssenkrupp on Tuesday warned of a darkening economic backdrop, a key driver of demand for its products, signalling tough times for its capital goods business ahead of a planned spin off.
Gold edges up on dollar pull back; focus on U.S.-China trade talks
(Reuters) - Gold prices edged up in late Asian trade on Tuesday as the dollar fell from multi-week highs, with bullion drawing support from global economic slowdown worries and uncertainties surrounding Sino-U.S. trade talks.
Renault: Ghosn remains director of Renault, Bollore chairman of Renault-Nissan
PARIS (Reuters) - Carlos Ghosn remains a director of Renault SA even though he has resigned as chairman and chief executive and Thierry Bollore is now chairman of the Renault-Nissan BV holding company, Renault said on Tuesday.
Chinese New Year retail sales up by 8.5%
The first week of the Chinese New Year generated sales to the tune of 1.01 trillion yuan ($147 billion), representing an 8.5 per cent increase year-on-year (YoY), according to figures issued by the Commerce Ministry on Tuesday.
Reliance General Insurance files for IPO with SEBI
The Anil Ambani-led Reliance Group's non-life insurer, Reliance General Insurance Company Ltd, has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), said parent company Reliance Capital Ltd on Tuesday.