Page 6 - Business Finance
APM Industries standalone net profit declines 19.68% in the March 2019 quarter
Sales decline 8.20% to Rs 56.62 crore
Visco Trade Associates reports standalone net profit of Rs 0.25 crore in the March 2019 quarter
Sales rise 324.36% to Rs 6.62 crore
Sangam Health Care Products reports standalone net loss of Rs 0.55 crore in the March 2019 quarter
Sales rise 1.88% to Rs 4.87 crore
Goa govt plans scheme to attract investment from Goan NRIs
The Goa government wants to attract investment from Non-resident Indians (NRI) of Goan origin, especially the seafarers, in sectors such as housing, Deputy Chief Minister Vijai Sardesai said Tuesday. He was addressing a program organised by the Goan Seamen Association in Margao to mark 'The International Day of the Seafarer', celebrated on June 25. The question was "whether we should rely on Delhi- based investors for investment" or encourage "our own Goans who are Seafarers to invest in the state", he said. The government is open to ideas for formulating an investment scheme for NRIs, he said. "The investment has to be in a sector like housing which protects your investment and assures growth," he added. Nearly 70 per cent of seafarers from India are Goans, he noted. "Goans have shown the way for the country in this sector through their presence for years together," he said. While the state suffered a financial setback due to the closure of mining industry, areas such as .
China criticizes possible US penalties against banks
China has criticised Washington's efforts to enforce US law abroad following a news report three Chinese banks might be penalised over dealings with North Korea. The banks named by The Washington Post as facing possible loss of access to the US financial system denied Tuesday they were under investigation. A foreign ministry spokesman, Geng Shuang, said, "we consistently oppose the so-called long-armed jurisdiction of the United States on Chinese companies." Geng gave no confirmation of the Post's report. The Post said the court didn't identify the banks but details of the case fit the identities of Bank of Communications, China Merchants Bank and Shanghai Pudong Development Bank. The banks issued statements saying they weren't under investigation and comply with UN sanctions imposed over North Korea's nuclear development.
How to select a Personal Loan that meets your needs
A personal loan is one of the most versatile forms of credit as it allows you to finance any goal without any restriction.Since it is collateral-free, you don't need to risk any assets, and since you can choose your tenor as per pocket, you can repay it hassle-free. That being said, there is a loan specialised for your requirements and being smart about your goals will help you choose the most cost-effective and feature-rich option.Apart from taking stock of your finances and looking for low interest rates, there are other important factors that you need to consider when selecting the right personal loan. Read on to know more.Define your purposeStarting from debt consolidation to a family wedding or a business expansion to your child's education, your needs may differ based on your lifestyle. Lenders often customise personal loans to help you tackle these needs more thoroughly. Choosing these can help you get attractive terms and features. For instance, Bajaj Finserv offers a Personal
HDFC Mutual Fund hikes stake in TV Today Network by 2.14%
HDFC Mutual Fund has increased its holding in media firm TV Today Network by 2.14 per cent stake through open market transaction. Schemes of HDFC Mutual fund, which earlier held 5 per cent stake in TV Today Network, bought 12.78 lakh shares, amounting to 2.14 per cent shareholding in the company, as per a regulatory filing by the MF house. Based on weighted average price of the stock at Rs 254.66 per share on June 24, the transaction is estimated to be valued at Rs 32.55 crore. Post transaction, HDFC Mutual Fund's stake in TV Today Network now stands at 7.14 per cent.
LIC trims stake in Asian Paints by 2%
State-owned LIC has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through open market transaction. With the sale of these shares, stake of LIC (Life Insurance Corporation of India) in Asian Paints has now come down to 3 per cent from 5 per cent earlier, as per a regulatory filing by the insurer. LIC sold 1,92,49,974 shares through open market, the filing said without disclosing the sale value. The total sale value could not be ascertained as the the insurer sold the shares over a period of time between January 9-June 24, 2019. Shares of Asian Paints Ltd settled 0.96 per cent lower at Rs 1,363.20 apiece on BSE.
IFCI okays exiting NSE by divesting remaining 2.44 pc
Long-term infrastructure term lender IFCI will exit the National Stock Exchange (NSE) by selling the remaining stake of over 2 per cent in the bourse. The company's board in a meeting on Monday approved to divest the stake, IFCI said in a regulatory filing. "The board at its meeting has approved the sale of IFCI's remaining stake of 1,20,66,871 equity shares comprising of 2.44 per cent of the total equity shares of NSE," IFCI said. The stake sale in the NSE is part of IFCI's initiative to exit non-core businesses. "The company is expecting to divest the remaining stake at a price of about Rs 1,000 apiece which may fetch it over Rs 1,206 crore," according to a source. IFCI originally held 15 per cent stake in the NSE and has been divesting its stake in the equity bourse in parts since 2007. The stake sale is expected to be completed within the current financial year, the source added. Shares of IFCI on Tuesday jumped 17.82 per cent to Rs 9.39 apiece on the BSE.
Sylph Education Solutions announces change in directorate
with effect from 25 June 2019
Indices trade with minor losses; Nifty below 11700
Key benchmark indices came off day's low and were trading with minor losses in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 42.09 points or 0.11% at 39,080.87. The Nifty 50 index was down 6.45 points or 0.06% at 11,693.20.
Creative Peripherals & Distribution standalone net profit rises 157.78% in the March 2019 quarter
Sales rise 44.12% to Rs 112.41 crore
Mideast Integrated Steels reports standalone net loss of Rs 42.90 crore in the March 2019 quarter
Sales rise 1.32% to Rs 182.89 crore
GCCL Construction & Realities reports standalone net loss of Rs 0.04 crore in the March 2019 quarter
Reported sales nil
Noble Explochem reports standalone net loss of Rs 0.53 crore in the March 2019 quarter
Reported sales nil
Premier reports standalone net loss of Rs 64.55 crore in the March 2019 quarter
Sales decline 59.34% to Rs 3.31 crore
Tulasee Bio-Ethanol reports standalone net loss of Rs 0.07 crore in the March 2019 quarter
Reported sales nil
China bank stocks fall on possible US action linked to N Korea
Shares in three large Chinese banks fell Tuesday after a media report said a US judge had found the banks in contempt for refusing to comply with subpoenas related to a North Korean sanctions violations case. The ruling could prompt the US to bar one of China's largest banks from the US financial system, the Washington Post report said. The order did not explicitly identify the banks but details in the case matched those of three large state-backed Chinese banks: the Bank of Communications, China Merchants Bank and Shanghai Pudong Development Bank, the Post reported. Shares of the Bank of Communications slipped 3.02 percent to 6.10 yuan, China Merchants Bank fell 4.82 per cent to 36.13 yuan and Shanghai Pudong Development Bank sank 3.08 percent to 11.66 yuan. The banks did not comply with US subpoenas for information in an investigation into North Korea sanctions violations, the Post reported. The order could allow the US attorney general or Treasury secretary to cut off Shanghai ...
Sensex spurts 312 pts; energy, auto, banking stocks rally
The BSE Sensex Tuesday rallied about 312 points, driven by energy, auto and banking stocks as monsoon's swift progress revived investor sentiment. After trading in the red zone for a better part of the session, the BSE gauge pared losses and soared over 350 points, before settling 311.98 points, or 0.80 per cent, higher at 39,434.94. The index hit an intra-day high of 39,490.64 and a low of 38,946.04. Similarly, the broader NSE Nifty rose 96.80 points, or 0.83 per cent, to 11,796.45. During the day, the index touched a high of 11,814.40 and a low of 11,651. RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent. While, Yes Bank, Asian Paints, IndusInd Bank, TechM, HUL, TCS, L&T, Hero MotoCorp and HCL Tech fell up to 1.70 per cent. Markets pared initial losses following India Meteorological Department's (IMD) ...
Stocks resume upward momentum, Sensex gains 300 points
Equities showed resilience on Tuesday and benchmark indices zoomed in the afternoon trading with metal, PSU banks, energy and auto stocks leading the rally.The BSE S & P Sensex closed 312 points higher at 39,435 while the Nifty 50 was up 97 points at 11,796.At the National Stock Exchange (NSE), all sectoral indices were in the green. Shares of oil marketing companies traded higher after crude oil prices fell over concerns of weakening global demand in oil markets.At the same time, the weather department said monsoon rains have covered nearly half of the country, leading investors to hope for a bumper agricultural output which in turn will boost rural incomes and lead to more spending.Among stocks, IFCI surged 18 per cent after the board approved the sale of 2.44 per cent of the total equity shares of NSE.Shares of Emami soared nearly 8.8 per cent after the promoters undertook a stake sale of 10 per cent for raising Rs 1,230 crore for further reducing the debt level.Bharat ...