United Breweries hits record high on Q4 results

20h thehindubusinessline
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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Bhushan Steel seeks 90 days extension to file March quarter results

20h livemint
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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4 years of Modi govt, but no achche din for PSU stocks

20h thehindubusinessline
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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City Union Bank Q4 profit rises 18% to Rs152.12 crore

20h livemint
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.
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Vedanta warns of aluminium production cuts on coal curbs

20h livemint
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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United Spirits swings to profit in Q4, revenue grows 7.96%

20h livemint
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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7 Maruti Suzuki cars among the Top 10 best selling cars in India for April

20h livemint
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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Jet Airways lands with a thud in Q4 as fuel costs increase

20h livemint
Mumbai: The financial results for airlines during the March quarter (Q4) were dismal, primarily because of rising crude oil prices.
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Embassy group diversifies into mid-income housing business

20h livemint
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.
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Lack of vendor capacity seen as hurdle for Maruti Suzuki’s future growth

20h livemint
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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United Spirits zooms over 7% on March-quarter results

20h thehindubusinessline
The company has posted a March-quarter profit of Rs 211 crore ($30.92 mln), compared with a loss of Rs 104 crore a year ago.
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Q4 Results: JLR sales slump, rising costs put Tata Motors in a tight spot

20h livemint
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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NCLT gives bidder a third chance for Kolkata hotel

20h livemint
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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Closing Bell: Sensex up over 300 pts, midcaps underperform; IT zooms, ONGC dips

20h moneycontrol
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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PNB fraud case: ED files first chargesheet against Nirav Modi, associates

20h livemint
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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Airtel Payments Bank appoints Anubrata Biswas as MD, CEO

20h livemint
New Delhi: Airtel Payments Bank on Thursday said that it has appointed former ICICI Bank senior executive Anubrata Biswas as its managing director and CEO. (10-0)
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Competition commission orders probe against Grasim Industries

20h livemint
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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Manipal-TPG extends validity of its revised offer for Fortis

20h livemint
New Delhi: The Manipal-TPG combine has said it has extended the validity of its modified offer for Fortis Healthcare to 6 June.
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ONGC Videsh FY18 profit up 29% on higher oil production

20h livemint
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)
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Motherson Sumi continues to face margin pressure in foreign markets

20h livemint
Global auto components maker Motherson Sumi Systems Ltd faced some hiccups in the March quarter, as costs rose along with adverse currency movements to erode profitability.
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Puneet Chhatwal: Taking ‘Tajness’ to new heights

20h livemint
“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.
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NCLAT admits lenders’ plea over surrender of Jaypee land

20h livemint
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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Jet Airways shares dive 7 pc on weak Q4 earnings

20h moneycontrol
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.
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Banks, IT stocks lift Sensex 318 pts; Nifty above 10,500, midcaps underperform

20h moneycontrol
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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United Spirits rises 4% post company reports profit in Q4

20h moneycontrol
Shares of United Spirits added more than 4 percent in the opening trade on Friday as company reported profit in the quarter ended March 2018. (12-0)
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IFCI surges 10% after receiving Rs 280 cr from Bhushan Steel resolution

20h moneycontrol
Shares of IFCI advanced 10 percent intraday Friday as company received Rs 280 crore from Bhushan Steel resolution. (9-0)
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Somany Ceramics touches 52-week low on weak Q4 numbers

20h moneycontrol
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.
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Granules India touches 52-week low on 55% dip in Q4 profit

20h moneycontrol
Shares of Granules India touched new 52-week low of Rs 77.85, down 6.3 percent in the early trade on Friday on the back of weak fourth quarter numbers.
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Gayatri Projects rises 2% on LoA for project worth Rs 425 cr

20h moneycontrol
Shares of Gayatri Projects rose 2.3 percent intraday Friday as company received LoA from the Ministry of Road Transport and Highways.
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Fuel prices hiked for 12th day; petrol up over Rs 11 since Karnataka poll, diesel Rs 7.27

20h moneycontrol
Petrol and diesel prices continue to soar and touched another peak on Friday. Petrol was hiked by 36 paise to Rs 85.65 per litre in Mumbai. (3-0)
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India state banks#39; bailout stumbles as losses mount

20h moneycontrol
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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Investor Elliott's stake raises pressure on Thyssenkrupp CEO

20h channelnewsasia
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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Indian Oil plans to invest Rs 1,387 crore in Andhra Pradesh

20h economictimes.indiatimes
Copyright © 2018 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service (3-0)
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India's GAIL Turns To Spot And Short-Term LNG Deals

20h rigzone
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 Pharma Gets FDA Go-Ahead for Yonsa for Prostate Cancer

20h biospace
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)
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