Shares of United Breweries jumped to a record high on strong Q4 results. The stock jumped as much as 7.6 per cent to a record high of Rs 1,570. The beer brewer's stock posted biggest intraday percentage gain since February 5. (2-0)
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New Delhi: Debt-ridden Bhushan Steel, which has been acquired by Tata Steel under the insolvency process, has sought 90 days extension to file its audited financial results for the quarter and year ended 31 March 2018. (9-0)
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Under four years of Modi government, public sector companies, led by banks, have suffered the most. The Nifty PSU Bank index is undoubtedly the biggest loser with negative returns of 24 per cent over the last four years, thanks to lack of meaningful resolution of non-performing assets (NPAs). Analysts have pointed out that the government’s inability to solve the NPA issue has been one of the biggest misses despite the bankruptcy code and recapitalisation. (10-0)
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New Delhi: Private sector lender City Union Bank Ltd has reported an 18.04% rise in net profit at Rs152.12 crore for the quarter ended 31 March, compared to a net profit of Rs128.87 crore in the year-ago period.
New Delhi: India’s biggest aluminium producer Vedanta Ltd may be forced to reduce output if restrictions on coal supplies to the non-power sector drag on for another week, according to its chief executive for metals business in the country. (5-0)
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Bengaluru: India’s largest liquor firm United Spirits Ltd (USL) swung to a quarterly profit in the fourth quarter of 2017-18 on double-digit volume growth in its prestige-and-above business division.
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New Delhi: Maruti Suzuki India (MSI) maintained its leadership position in the domestic passenger vehicles (PV) segment in April with seven of its models appearing in the top 10 selling list, and its premium hatchback Swift taking the top spot.
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Mumbai: Bengaluru-based Embassy group, which is focused on building commercial office and luxury residences, has diversified into mid-income housing as it plans to tap into the growing middle-class home-buyers and millennials.
New Delhi: Maruti Suzuki India Ltd’s vendors need to collectively invest Rs1.5-2 trillion in the decade starting 2020, to keep pace with investments the carmaker’s parent company, Suzuki Motor Corp., would make in India.
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Tata Motors Ltd’s consolidated revenue increased 18% in the March quarter (Q4). Revenue of the standalone entity, consisting largely of its India business, jumped 45%, making a meaningful contribution to overall growth. Excluding the translation gains (revenue conversion from the UK pound to the Indian rupee—the pound appreciated against the rupee last quarter), revenue growth will stand at around 12%, which is decent. (3-0)
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The Kolkata bench of the National Company Law Tribunal (NCLT) set a rare precedent in the second week of May by allowing a bidder who was unsuccessful twice to make a fresh bid, resuming a two-way contest between the top bidders for a 197-room hotel in Kolkata. (2-0)
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Benchmark indices rose, driven by IT stocks, such as, Infosys and TCS on the back of a weak rupee. The IT index has gained 18 percent so far this year. The rupee has weakened by more than 7 percent so far this year, as surging crude oil prices weigh on India, the world’s third-largest importer, raising fears that soaring costs could drive up inflation and widen the trade deficit. (43-0)
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Mumbai: The Enforcement Directorate has filed its first chargesheet in the over $2 billion PNB fraud case involving diamantaire Nirav Modi and his associates, officials said on Thursday.
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New Delhi: The Competition Commission has ordered a probe against Aditya Birla group firm Grasim Industries for alleged abuse of dominant position with regard to the sale of viscose staple fibre (VSF).
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New Delhi: ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corp. Ltd (ONGC), today reported a 29% jump in its net profit for the fiscal year ending 31 March as it produced more crude oil and natural gas. (3-0)
“Why not?” he asks back. “We are already iconic. Now we just need to be profitable.” The 54-year-old took charge as the CEO and managing director of Indian Hotels Co. Ltd (IHCL), which runs the Taj chain of hotels, in November and is charting the next phase of growth for one of India’s oldest hospitality brands.
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Thursday admitted an appeal moved by ICICI Bank Ltd and other lenders challenging an order passed by National Company Law Tribunal’s (NCLT) Allahabad bench directing Jaiprakash Associates Ltd (JAL) to return 759 acres of land to its unit Jaypee Infratech Ltd (JIL). (34-0)
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Market Update: The market held on to morning gains, with the Sensex rising around 150 points while the Nifty Midcap index extended rally, rising nearly 1.5 percent. (73-0)
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Shares of Jet Airways today plunged 7 percent after the company reported a standalone net loss of Rs 1,036 crore in the March quarter. The stock dropped 7.03 percent to settle at Rs 391.55 on BSE. Intra-day, it lost 10.57 percent to Rs 376.60 -- its one-year low.
The market managed to recover all its previous session's losses on Thursday, led by short covering in beaten down stocks. Dovish Federal Reserve minutes, correction in crude oil prices and the recovery in rupee also aided sentiment. (48-0)
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The broader are trading on a positive note on Friday morning, with the Nifty up 47 points at 10,561 and the Sensex gaining 151 points at 34,814. (29-0)
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Share price of Somany Ceramics touched 52-week low of Rs 506.30, losing 7 percent intraday Thursday on the back of weak set of numbers declared by the company for the quarter ended March 2018.
When the government announced a surprise $32 billion bailout plan for the nation's state-controlled banks last October, credit rating firms and the nation's central bank saw it as a huge step to getting the industry back to robust health and lending more to businesses and consumers. (2-0)
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FRANKFURT/BERLIN: Activist hedge fund Elliott said on Thursday it would step up pressure on Thyssenkrupp's leadership to revive the German industrial conglomerate's fortunes, confirming it had taken a stake of less than 3 percent. (8-0)
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NEW DELHI, May 24 (Reuters) - Indian gas utility GAIL (India) has switched its focus to short-term and spot deals for the purchase of liquefied natural gas (LNG) to meet rising demand and hedge against price volatility, its chairman said.
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Sun Pharmaceutical Industries, located in Mumbai, Indi and Princeton, New Jersey received approval from the U.S. Food and Drug Administration (FDA) for Yonsa (abiraterone acetate) to treat metastatic castration-resistant prostate cancer (mCRPC). Sun will launch the drug in the U.S. via a licensing deal with Churchill Pharmaceuticals, the original developer of the drug. Churchill is eligible for upfront fees, as well as milestone payments and royalties. (2-0)