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While India Inc’s performance was expected to be muted in the June 2017 quarter and expectations were already modest, the actual performance has been far more disappointing, according to brokerage firms. Nifty 50’s net profit declined 11 per cent year-on-year in Q1 versus an expected drop of 1 to 6 per cent.
Defence technology and aviation manufacturer Israel Aerospace Industries (IAI) reported its financial results for the second quarter of 2017 (Q2 2017) on 17 August. In the three months to 30 June the company made sales of USD859 million, a fall of 2.1% year on year. However, net income rose sharply to USD21 million, compared to just USD6 million dollars in the same period in 2016.
Key benchmark indices trimmed losses in mid-afternoon trade after hitting fresh intraday low in afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was down 310.52 points or 0.98% at 31,484.94. The Nifty 50 index was down 87.15 points or 0.88% at 9,817. Bulk of todays steep market slide was triggered by a sharp slump in index heavyweight and IT major Infosys. Sentiment was also hit as global stocks markets declined on rising doubts about US President Donald Trumps ability to deliver his economic agenda.
The market snapped a five-week winning streak and fell sharply by more than 1,100 points on the Sensex, weighed by geopolitical tensions surrounding around North Korea and disappointing earnings.
Shares of Bharat Electronics will remain on investors’ radars as the Central government is offering shares to the company’s employees. Bharat Electronics is offering 55.84 lakh shares through the offer-for-sale window at a price of ₹142.40 a share (5 per cent to discount to the cut-off price of ₹149.90). The offer opens for subscription on Monday (August 14) and will close on August 23. The Centre will raise ₹79.
The board of director of Bharat Electronics (BEL) on Thursday approved the proposal for the issue of the bonus shares to the existing shareholders of the company in the ratio of 1:10.
New Delhi: The Election Commission today told the Supreme Court that it will be able to conduct the Gujarat assembly elections, due late this year, using EVMs with paper trail.
New Delhi : The government Friday said it has set up a new exchange-traded fund (ETF), Bharat-22, comprising 22 scrips including ONGC, IOC, SBI and Axis Bank.
India Inc’s financial performance so far reflects the disruption created on account of companies adhering to the goods and services tax, which got effective July 1.
India’s Comptroller and Auditor General (CAG) has criticised the delay in the induction of the Akash self-propelled surface-to-air missile (SAM) system into the Indian Air Force (IAF), stating that the immediate “deterrence capability” envisaged for India’s northeastern sector remains unfulfilled even four years after the system was planned to enter service.
Take Solutions Ltd is a Chennai-based global IT solutions and services provider. The company provides IT solutions to life ...
With the Indian equity markets dancing to the tune of money flows (foreign as well as domestic) and hitting new highs without meaningful improvement in corporate performance, Nitin Bhasin, Head of Research at Ambit Capital believes there is a need for correction as valuations are expensive and earnings can surprise negatively. Excerpts:
India’s Ministry of Defence (MoD) has approved the INR24 billion (USD371 million) upgrade of 693 Indian Army (IA) BMP-2/2K Sarath infantry combat vehicles (ICVs) to BMP-2M standard.
On the advice of an ad hoc committee, Rolta India has proposed to replace its existing bonds worth $500 million with new five-year bonds at a lower coupon, the company on Monday informed the exchanges. The company expects the reduction in interest to bring relief to its debt repayment.
Israel Aerospace Industries (IAI), which is to supply systems for Barak 8 surface-to-air missiles to Bharat Electronics Ltd for installation on Indian warships, is look to engage with start-ups that work in the field of aviation and defence.
NEW DELHI/TEL AVIV (Reuters) - Narendra Modi begins a first visit to Israel by an Indian prime minister on Tuesday, in a public embrace of a country that he has long admired for its military and technical expertise but which his predecessors kept at arm's length.
NEW DELHI/TEL AVIV (Reuters) - Narendra Modi is making a first visit to Israel by an Indian prime minister next week, in a public embrace of a country that he has long admired for its military and technical expertise but which his predecessors kept at arm's length.
JK Lakshmi Cement (JKLC) is a part of JK group mainly focused in north, west and eastern regions of India with a consolidated capacity of 12.5 MT as on FY17 and is one of the most cost-efficient players.
Kotak Mahindra Bank shares touched a life-time high of Rs 993 on Monday, up as much as 0.75 percent on addition in the BSE benchmark index.
In an interview to CNBC-TV18, MV Gowtama, CMD of Bharat Electronics Ltd (BEL) spoke about the latest happenings in his company and sector.
Key benchmark indices were trading with small gains after regaining positive terrain in afternoon trade as firm start to European stocks and domestic data showing wholesale price inflation easing in May, supported gains on the bourses. At 13:20 IST, the barometer index, the S&P BSE Sensex, was off 31.86 points or 0.11% at 31,135.35. The Nifty 50 index was down 3.85 points or 0.04% at 9,610.75. Index heavyweight Reliance Industries jumped.
Midcap stocks have had a dream run in the last 12-36 months as many have already doubled investors’ wealth many times over the same period. But, most analysts are not predicting a halt in this dream run for a while till fundamentals catch up with valuations.