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Stocks In News

 

HDFC BANK Q4 REVIEW

PAT at Rs 4799 Cr vs Rs 3990 Cr, up 20.2%

NII at Rs 10,658 Cr vs Rs 9,055 Cr, up 17.7%

Net Interest Margin at 4.3%

Other Income at Rs 4229 Cr vs Rs 3446 Cr, Up 22.7%

Operating Profit at Rs 8835 Cr vs Rs 7279 Cr, up 21.3%

LUPIN

Gets USFDA Approval For Generic Xenazine

ICICI BANK

Rejects Claims Of Denying An External Audit

SEBI May Seek Forensic Probe Of ICICI Bank Books, Disclosures

Mulling A Forensic Examination Of Financial Statements & Disclosures

Bank's Chairman MK Sharma Conducted A Secret Inquiry 2 Yrs Ago

Found No Wrongdoing By CEO Chanda Kochhar Over Loans To Videocon

Reports

UNICHEM LAB

Manufacturing Facility At Ghaziabad Inspected By USFDA From April 16-20

Inspection Concluded With Zero Observations

TCS

Enters $ 100 Bn Club

  • SENSEX

    34,450.77 35.19   (0.10 %)
  • NIFTY

    10,584.70 20.65   (0.20 %)
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Always aspired to become a $100 Bn company: N Chandra

News In Brief

 

    UK government moving forward as one on Brexit plans: PM May's spokesman

    London: The British government is moving forward as one on its plans to leave the European Union, Prime Minister Theresa May’s spokesman said on Monday.

     He added the government believed its options for future trade with the EU could address the issue of avoiding a hard border with Ireland and provide for smooth trade with the bloc.  Last week, Britain’s upper house of parliament inflicted an embarrassing defeat the government, challenging her refusal to remain in a customs union with the EU after Brexit. 

    (Reuters)

    Iran says 'either all or nothing' on nuclear deal: Zarif tweets

    Ankara: The European signatories of Iran’s nuclear deal with major powers should convince U.S. President Donald Trump not to exit the accord as there is no “plan B” for the agreement, Iranian Foreign Minister Mohammad Javad Zarif Tweeted on Monday. 

    “It is either all or nothing. European leaders should encourage Trump not just to stay in the nuclear deal, but more important to begin implementing his part of the bargain in good faith,” Zarif wrote on his Twitter account.

    (Reuters) 

    Hasbro blames Toys 'R' Us as sales sink

    Hasbro Inc (HAS.O) reported a 15.7 percent fall in quarterly revenue on Monday, blaming the liquidation of Toys ‘R’ Us and unsold inventory in Europe.

    Net loss attributable to Hasbro was $112.5 million, or 90 cents per share, in the first quarter ended April 1, compared with a profit of $68.6 million, or 54 cents per share, a year earlier.  The company’s revenue fell to $716.3 million from $849.7 million.

    (Reuters) 

    EU regulators to investigate 900 million euro state aid for Alitalia

    Brussels: EU antitrust regulators will investigate whether Italy’s decision to grant 900 million euros (788.2 million pounds) in aid to troubled airline Alitalia breached the bloc’s state aid rules.

    Alitalia, in which Etihad Airways holds a 49 percent stake, was placed under extraordinary administration in May 2017. Italian authorities gave a total of 900 million euros to the carrier to ensure its financing during this period while also opening a tender aimed at finding a buyer for its assets. The European Commission can order Italy to recover the money if it finds that the aid is illegal.

    (Reuters)

    Siemens CEO says rail business performed well in Q2

    Hanover, Germany: Siemens Mobility (SIEGn.DE), which is being merged with Alstom’s (ALSO.PA) rail business, is performing well, the German industrial conglomerate’s chief executive said.   

    “I am not revealing any secrets when I say that I was very happy when I saw the mobility figures for the second quarter,” Joe Kaeser told Reuters on the sidelines of the Hannover Messe trade fair on Monday. PA Siemens is due to publish second-quarter financial results on May 9.

    (Reuters)

    CenterPoint Energy to buy Vectren in $6 billion deal

    Bengaluru: U.S. gas and electric utility CenterPoint Energy (CNP.N) said on Monday it would buy rival Vectren Corp (VVC.N) in a deal valued at about $6 billion (4.3 billion pounds). 

    Under the terms of the deal, Vectren shareholders will receive $72.00 in cash for each share held.

    (Reuters)

    Mexico's Nieto hopes for reworked NAFTA deal soon

    Hanover, Germany: Mexican President Enrique Pena Nieto said on Monday he hoped for agreement soon on a reworked North American Free Trade Agreement (NAFTA), which includes Mexico, the United States and Canada. 

    Speaking at the Hanover trade fair in Germany, Nieto said he believed differences between the parties could be overcome to revamp the 24-year-old accord, which underpins some $1.2 trillion in annual trilateral trade.

    (Reuters)

    36 killed in N.Korea accident

    Beijing: At least 36 people, including 32 Chinese tourists, were killed in a bus accident in North Korea, China's Foreign Ministry said on Monday. 

    Besides the 32 Chinese, the victims also comprised four North Korean workers while two other Chinese citizens were seriously injured, Efe news reported. China's National Health Commission said on its website it had sent a team of four medical experts with equipment and medicine to North Korea.

    (IANS) 

    Opposition to move SC against impeachment rejection

    New Delhi: Opposition members will move the Supreme Court against the rejection by Rajya Sabha Chairman M. Venkaiah Naidu of the impeachment motion against the Chief Justice of India, Congress leader Kapil Sibal announced on Monday.

    (IANS) 

    Question of Azerbaijan joining OPEC not on the agenda: Minister

    Baku: The question of Azerbaijan joining the Organization of the Petroleum Exporting Countries (OPEC) is not on the agenda and is not being discussed by the government, Azeri Energy Minister Parviz Shakhbazov told Reuters on Monday. 

    Reuters reported earlier OPEC and Azerbaijan were discussing deepening cooperation, including possible Azeri membership of OPEC.

    (Reuters)

    Russia, China to obstruct US attempt to sabotage Iran nuclear deal: TASS

    Moscow: Russian Foreign Minister Sergei Lavrov said on Monday he had agreed with his Chinese counterpart that Moscow and Beijing would try to block any U.S. attempt to sabotage the Iran nuclear deal, Russian state news agency TASS reported. 

    “We are against revising these agreements, we consider it very counter productive to try to reduce to zero years of international work carried out via talks between the six major powers and Iran,” TASS quoted Lavrov as saying after talks with Wang Yi, China’s top diplomat, in Beijing. “We will obstruct attempts to sabotage these agreements which were enshrined in a U.N. Security Council resolution,” Lavrov was cited as saying.

    (Reuters)

    PM Modi to visit Madhya Pradesh on Tuesday

    Bhopal: Prime Minister Narendra Modi will visit Madhya Pradesh's Mandla district on Tuesday to address Panchayat bodies and indigenous communities.

    During his day-long visit, he will inaugurate a programme on National Panchayati Raj Day and address a rally on Adivasi Diwas.

    (IANS)

    Thuringia ready to help Opel, but won't be blackmailed: Premier

    Berlin: The German state of Thuringia is ready to offer assistance to carmaker Opel in order to keep open the region’s Eisenach plant, state premier Bodo Ramelow told Reuters on Monday. 

    The state could help with energy costs and property, he said, but added that it would only lend assistance if wage bargaining parties returned to the negotiating table. “We cannot accept that,” Ramelow said. Of the three states in which Opel produces in Germany, he added: “The three states won’t allow themselves to be divided.”

    (Reuters)

    RBI sets rupee reference rate at 66.2177 against US dollar

    Mumbai: The Reserve Bank of India today fixed the reference rate of the rupee at 66.2177 against the US dollar and 81.2690 for the euro.

    The corresponding rates were 66.0167 and 81.4580, as on friday, April 20. The according to an RBI statement, the exchange rates for the pound and the yen against the rupee were 92.8438 and 61.40 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon. The SDR-rupee figure will be based on this rate, the statement added.

    (PTI) 

    U.N. says calls for preservation of Iran nuclear deal

    Geneva: The top U.N. disarmament official urged parties to the Iran nuclear deal on Monday not to abandon it, just weeks before U.S. President Donald Trump’s May 12 deadline for his European allies to agree to toughen up the terms of the agreement. 

    “We hope that all of its participants remain fully committed to its implementation and long-term preservation,” U.N. High representative for Disarmament Affairs Izumi Nakamitsu told a U.N. nuclear non-proliferation conference, hours before Trump and French President Emmanuel Macron hold talks in Washington.

    (Reuters)

    EU willing to provide some financial market access for Britain: John Glen

    London: The European Union has indicated that it is willing to provide some form of access for Britain’s vast financial services industry after Brexit, the City minister John Glen said on Monday. 

    Glen said the transition deal agreed by Britain and the EU last month allows financial firms to move forward and plan for the future with confidence. “The fog is clearing ... We are already seeing progress,” Glen told the CityWeek conference in the Square Mile’s Guildhall. “The EU have now recognised that there will be some of market access in financial services having previously dismissed the idea.”

    (Reuters)

    Paris attacks suspect gets 20-year sentence in Brussels trial

    Brussels: A Belgian judge on Monday sentenced Salah Abdeslam, the prime surviving suspect in the 2015 Islamic State attacks on Paris, to 20 years in prison over a shootout with police in Brussels in 2016. 

    Abdeslam’s co-defendant Sofien Ayari also received a 20-year term for attempted terrorist murder. While his lawyer argued Abdeslam, 28, should be acquitted because of a procedural error, prosecutors had charged him with attempted murder over the Brussels shootout in March 2016, days before his arrest, and called for a jail term of 20 years.

    (Reuters)

    Elliott stops proxy solicitation for Telecom Italia AGM given uncertainty caused by legal action

    Milan: Elliott said it had stopped soliciting proxies for Telecom Italia’s (TIM) April 24 shareholder meeting due to the uncertainty that arose after the phone group asked a judge to rule on additions to the AGM proposed by the activist investor.

    Elliott, now TIM’s second-largest investor with a 9% stake, is pushing for a shake-up of the way Vivendi has been running the Italian phone incumbent. It is seeking to replace six of Vivendi-nominated board members at a shareholder meeting on Tuesday to improve governance, valuation and strategy. TIM’s statutory auditors included Elliott’s proposal in the agenda for the April meeting - a decision TIM’s board is now challenging in court.

    (Reuters)

    Adequate stocks drag wheat futures down by 0.41%

    New Delhi: Wheat prices weakened by 0.41 per cent to Rs 1,705 per quintal in futures trade today as speculators reduced their holdings, triggered by sufficient stocks position at the spot market.

    At the National Commodity and Derivatives Exchange, wheat to be delivered in May was trading lower by Rs 7, or 0.41 per cent, at Rs 1,705 per quintal with an open interest of 2,320 lots.

    (PTI)

    ECB should support banks during wind-down: SRB's Koenig

    Frankfurt: The European Central Bank has a role to play in providing liquidity to banks while they’re being wound down, the head of the European Union’s bank resolution authority said on Monday.

    “Our fund will never be sufficient to be the sole answer and this means an important role for central banks, in particular for the European Central Bank,” Elke Koenig, chair of the Single Resolution Board, told an event in Frankfurt.

     (Reuters) 

    Paris attacks suspect guilty of attempted murder in Belgium

    Brussels:  A Belgian court has found Paris attacks suspect Salah Abdeslam guilty of attempted terrorist murder of police during a shootout with police in Brussels in March 2016, Belgian news agency Belga said on Monday.

    Neither Abdeslam nor co-accused Sofien Ayari, who Belga said was also found guilty, were in court to hear the ruling on Monday. The judge was continuing to read the verdict. Abdeslam is in a French prison awaiting trial for his role in the Islamic State attack on Paris in November 2015. Prosecutors say he is lone survivor of the IS suicide squad.

    (Reuters)

    China says 32 Chinese nationals killed in North Korea bus accident

    Beijing: China’s Foreign Ministry said on Monday that 32 Chinese nationals died in a major bus accident in North Korea. 

    Ministry spokesman Lu Kang said four North Koreans also died in the accident, which occurred in North Hwanghae province.

     (Reuters) 

    Russian finance ministry may raise net domestic market borrowing in 2018: RIA

    Moscow: Russia’s finance ministry could increase net domestic market borrowing by 200 billion roubles (2.3 billion pounds) in 2018, the RIA news agency reported on Monday, citing Konstantin Vyshkovsky, head of the finance ministry’s debt department.

    The reason for a possible increase is a stronger rouble, Vyshkovsky said.

    (Reuters) 

    Toshiba still aiming to complete sale of memory chip unit soon

    Tokyo: Toshiba Corp (6502.T) said on Monday it is still aiming to complete the sale of its memory chip business soon, following media reports it had decided to cancel the $18.6 billion sale if it did not get approval from Chinese regulators by May.

    (Reuters) 

    Subsea 7 offers $2 billion for peer McDermott, says CB&I deal should be scrapped

    Oslo: Offshore oil services firm Subsea 7 (SUBC.OL) has offered to buy U.S. peer McDermott (MDR.N) for about $2 billion (1.4 billion pounds), it said on Monday, adding that its approach had so far been rejected. 

    McDermott, which last year agreed to buy onshore-based engineering company Chicago Bridge & Iron (CB&I), could receive an even higher bid if it agrees to enter talks, Subsea 7 added. “The proposal is subject to the termination of McDermott’s pending transaction with CB&I,” Oslo-listed Subsea 7 said in a statement.

    (Reuters) 

    No change in foodgrain prices

    Chennai: Prices of all commodities remained unchanged on the opening day in the wholesale foodgrain market here today.

    Following are the wholesale rates of various agri-commodities (rates in rupees per quintal, unless stated otherwise):Thoor Dal Rs 6,900, Urad Dal Rs 6,700, Moong Dal Rs 7,000, Gram Dal Rs 4,800, Sugar Rs 3,150, Wheat Rs 2,600, Maida (90 kg) Rs 2,400 and Sooji (90 kg) Rs 3,000. 

    (PTI)

    China first-quarter imports from North Korea fall 87 percent year-on-year in yuan terms

    Beijing: China’s imports from North Korea fell 87 percent in the first quarter from a year earlier to 448.8 million yuan ($71.31 million), customs data showed on Monday, while exports to North Korea were down 46.1 percent to 2.68 billion yuan.

    For March, China’s exports to North Korea were 907.54 million yuan while imports from North Korea were 78.5 million yuan.  China’s March total trade with North Korea was 986.07 million yuan, customs data showed.

     (Reuters) 

    Naidu rejects impeachment motion against Chief Justice Misra

    New Delhi: Vice President and Rajya Sabha Chairman M. Venkaiah Naidu on Monday rejected the Congress-led opposition's notice for impeachment of Chief Justice Dipak Misra.

    (IANS) 

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