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Business News

  • Ricoh India Chairman Tetsuya Takano resigns

    Ricoh India Chairman Tetsuya Takano resigns  

    The company has appointed Ian Peter Winham as its Director/Chairman with immediate effect.

    25 Jul 2016, 1.58 pm  |  Source: PTI

  • ITC appoints Sanjiv Puri as COO

    ITC appoints Sanjiv Puri as COO   

    The board of the company, in its meeting held today "redesignated Sanjiv Puri, Wholetime Director, also as Chief Operating Officer of the Company with immediate effect," ITC said in a BSE filing.

    25 Jul 2016, 1.56 pm  |  Source: PTI

  • Seshasayee Paper sees cost of production coming down by 10%

    Seshasayee Paper sees cost of production coming down by 10%  

    The company performance this quarter was aided by two factors: good production and controlled cost of production, says KS Kasi Viswanathan, MD of Seshasayee Paper & Boards.

    25 Jul 2016, 1.53 pm  |  Source: CNBC-TV18

  • Expect to maintain 10-12% topline growth in FY17: Jayant Agro

    Expect to maintain 10-12% topline growth in FY17: Jayant Agro   

    The company's value added business is continuing to grow, says Udeshi. But with delayed rains in the castor growing regions of Gujarat, the commodity business could take a hit. But he reassures that late rains will not harm the cr...

    25 Jul 2016, 1.43 pm  |  Source: CNBC-TV18

  • P-Notes investment hit 2 year low of Rs 2.10 lakh cr in June-end

    P-Notes investment hit 2 year low of Rs 2.10 lakh cr in June-end  

    The board of Sebi, in May, tightened norms to check any misuse of controversy-ridden P-Notes by making it mandatory for users of these overseas instruments to follow Indian anti-money laundering law and report any suspicious trans...

    25 Jul 2016, 1.12 pm  |  Source: PTI

  • Good monsoon, festive season likely to boost sentiment: M&M Fin

    Good monsoon, festive season likely to boost sentiment: M&M Fin   

    The company reported a subdued quarter with 2.25 percent fall in its net profit to Rs 87 crore and reduced its provisions to 30.5 percent to Rs 224.5 crore in Q1. Asset quality quarter-on-quarter deteriorated to 36.9 percent at Rs...

    25 Jul 2016, 1.00 pm  |  Source: CNBC-TV18

  • Mphasis` core business will outperform market in FY17: CEO

    Mphasis' core business will outperform market in FY17: CEO   

    In an interview with CNBC-TV18, Ganesh Ayyar, CEO and ED of Mphasis along with CFO, V Suryanarayanan gave future guidance for the company finances and its business plans.

    25 Jul 2016, 12.39 pm  |  Source: CNBC-TV18

  • Affordable housing loans: Lenders` underwriting practices vital

    Affordable housing loans: Lenders' underwriting practices vital  

    "Affordable housing loans present unique credit risks for lenders and - when securitised - for residential mortgage- backed securities, because of the nature of the borrowers," says Moody's Assistant VP (Research Writer) Georgina ...

    25 Jul 2016, 12.24 pm  |  Source: PTI

  • IOB, Central Bank to benefit from capital infusion: Moody`s

    IOB, Central Bank to benefit from capital infusion: Moody's  

    "The capital infusion will improve their capitalisation at a time when asset quality pressure and elevated provisioning costs have negatively affected their financial performance," it said in its credit outlook titled, 'Indian Ove...

    25 Jul 2016, 12.08 pm  |  Source: PTI

  • RBI imposes penalty of Rs 5 cr on Bank of Baroda

    RBI imposes penalty of Rs 5 cr on Bank of Baroda  

    "The Reserve Bank of India has imposed a penalty of INR 50 million on Bank of Baroda... Pursuant to the internal audit of the Bank of Baroda, the Reserve Bank of India and investigative agencies in October 2015 were advised by the...

    25 Jul 2016, 12.00 pm  |  Source: PTI

  • GAIL, Gazprom renegotiating LNG deal, says sources

    GAIL, Gazprom renegotiating LNG deal, says sources   

    Shipments under the deal, initially expected to start in 2018/2019, are linked to crude oil prices which are rising while gas prices are expected to stay subdued for longer as major new production plants in Australia and the Unite...

    25 Jul 2016, 11.42 am  |  Source: Reuters

  • Oriental Carbon & Chem explains why effective tax rate is higher

    Oriental Carbon & Chem explains why effective tax rate is higher   

    Speaking to CNBC-TV18 Anurag Jain of Oriental Carbon & Chemical said that the demand was better in first quarter was better than the previous quarter.

    25 Jul 2016, 11.41 am  |  Source: CNBC-TV18

  • Glenmark gets FDA nod for skin ointment

    Glenmark gets FDA nod for skin ointment  

    "Glenmark Pharmaceuticals Inc, USA has been granted final approval by the US Food and Drug Administration (USFDA) for triamcinolone acetonide ointment USP, 0.5 percent," it said in a BSE filing.

    25 Jul 2016, 11.38 am  |  Source: PTI

  • Govt invites merchant bankers to manage NBCC share sale

    Govt invites merchant bankers to manage NBCC share sale  

    The government will appoint up to three merchant bankers for the share issue, which could fetch about Rs 2,200 crore to the exchequer at the current market price.

    25 Jul 2016, 11.28 am  |  Source: PTI

  • Managing portfolio quality crucial to growth: Equitas Holdings

    Managing portfolio quality crucial to growth: Equitas Holdings   

    Riding on the back of a good first-quarter performance, N Vasudevan, Managing Director of Equitas Holdings, says there is large unmet demand in the microfinance space which can be capitalised upon going ahead.

    25 Jul 2016, 11.09 am  |  Source: CNBC-TV18

  • Volumes likely to grow in double-digits for FY17: Havells India

    Volumes likely to grow in double-digits for FY17: Havells India   

    Anil Rai Gupta, Chairman and Managing Director, Havells India, said all of the company's verticals, except cables, saw 20 percent growth in the quarter.

    25 Jul 2016, 11.07 am  |  Source: CNBC-TV18

  • L&T Fin expects rural margins to grow on back of microfin biz

    L&T Fin expects rural margins to grow on back of microfin biz   

    In a post earnings interview, YM Deosthalee, Chairman of L&T Finance Holdings said that the whole entity has been restructured and the business is now divided in to three key focus areas - rural, housing and wholesale book segment...

    25 Jul 2016, 10.54 am  |  Source: CNBC-TV18

  • UFO Moviez sees ad revenues growing over 30% YoY

    UFO Moviez sees ad revenues growing over 30% YoY   

    Speaking to CNBC-TV18 Kapil Agarwal, Joint MD of UFO Moviez, said that 3i Research (Mauritius) is fully divested in the company.

    25 Jul 2016, 10.38 am  |  Source: CNBC-TV18

  • Optimistic on demand outlook in FY17: Persistent Systems

    Optimistic on demand outlook in FY17: Persistent Systems   

    Persistent Systems reported a 3.6 percent rise in rupee revenue to Rs 701.8 crore while its profit after tax fell 9.3 percent to Rs 73.2 crore. However, the company’s margins contracted by 80 basis points to 15.1 percent in the ...

    25 Jul 2016, 10.31 am  |  Source: CNBC-TV18

  • Thyrocare hopeful of growing revenues 25% in FY17

    Thyrocare hopeful of growing revenues 25% in FY17   

    Thyrocare’s revenue grew 21.7 percent to Rs 69.36 crore and operating profit margins improved to 39.4 percent in the first quarter of FY17.

    25 Jul 2016, 10.18 am  |  Source: CNBC-TV18

  • Forever Mark eyes 30% sales growth in India this year

    Forever Mark eyes 30% sales growth in India this year  

    "In India the demand has been explosive over the years. We saw about 35 per cent growth in 2015 in India but this year we are cautious with our estimates as the first half was hampered with jewellers strike that affected sales," F...

    25 Jul 2016, 9.52 am  |  Source: PTI

  • Jmatek plans to make India its export hub for SE Asia, Africa

    Jmatek plans to make India its export hub for SE Asia, Africa  

    The company, which is planning to invest Rs 100 crore to set up a design and development center and a new production unit, would also expand its presence in the domestic market with its range of AirTek aircoolers and dehumidifiers...

    25 Jul 2016, 9.52 am  |  Source: PTI

  • Wagh Bakri eyes Rs 1,150 cr turnover this fiscal

    Wagh Bakri eyes Rs 1,150 cr turnover this fiscal  

    With a better monsoon forecast for this year, the company aims to have a good fiscal after a lean period of 2-3 years.

    25 Jul 2016, 9.52 am  |  Source: PTI

  • Malaysian PM vows to strengthen trade ties with India

    Malaysian PM vows to strengthen trade ties with India  

    The event was organised by the Malaysia Kongu Tamilar Association, which represents 80,000 of the 200,000 Kongu Tamilar in the country.

    25 Jul 2016, 9.20 am  |  Source: PTI

  • Himalaya plans scaling up e-comm biz, targets Rs 100 cr by 2018

    Himalaya plans scaling up e-comm biz, targets Rs 100 cr by 2018  

    The Rs 2,000-crore company launched sales through its online portal himalayahealthcare.com in 2008, which it subsequently rebranded to himalayastore.com.

    25 Jul 2016, 9.20 am  |  Source: PTI

  • IndoStar Capital to launch housing finance arm soon

    IndoStar Capital to launch housing finance arm soon  

    "Four months ago, we applied for a home finance licence with the National Housing Board. We expect to get the permission in a month or so. If we get it by September, we hope to launch a home finance subsidiary by the later part of...

    25 Jul 2016, 9.18 am  |  Source: PTI

  • Cairn India deal to lift Vedanta`s rating & capex: Axis Cap

    Cairn India deal to lift Vedanta's rating & capex: Axis Cap   

    The deal will help Vedanta reduce its net debt, give access to Cairn's cash balance of about USD 3.5 billion, besides giving auxillary benefits such as improvement of credit rating and capex, says Nitesh Jain of Axis Capital.

    25 Jul 2016, 9.10 am  |  Source: CNBC-TV18

  • Improving asset quality led to lower Q1 slippages: Federal Bank

    Improving asset quality led to lower Q1 slippages: Federal Bank   

    The bank reported a 18.3 percent rise in net profit to Rs 167 crore in the first quarter while the gross non-performing assets (NPA) grew to 2.92 percent as against 2.84 percent quarter-on-quarter.

    25 Jul 2016, 9.08 am  |  Source: CNBC-TV18

  • Byju`s in advanced talks with investors to raise $50 mn

    Byju's in advanced talks with investors to raise $50 mn  

    The raised funds will be deployed to fuel international expansion and inorganic growth through global acquisitions, the company said in a press release.

    25 Jul 2016, 8.14 am  |  Source: PTI

  • Focussing on getting stuck projects operationalised: Essar Power

    Focussing on getting stuck projects operationalised: Essar Power  

    The company is burdened with Rs 20,369 crore debt and is evaluating possibilities of reducing it.

    25 Jul 2016, 8.14 am  |  Source: PTI

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