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Friday, July 14, 2017

TCS Q1 net profit falls 5.9% to Rs 5,945 cr
India's largest software services firm Tata Consultancy Services (TCS) yesterday reported a 5.9% decline in its consolidated net profit to Rs 5,945 crore for the April-June quarter, hit by currency volatility. It had posted a net profit of Rs 6,317 crore in the corresponding three-month period of the 2016-17 fiscal, the Mumbai-based firm said in a BSE filing. The company, however, posted a marginal increase of 1% in its consolidated revenue at Rs 29,584 crore during the quarter as against Rs 29,305 crore in the year-ago period.

Sebi looking at open offer angle in Idea-Vodafone deal
Markets regulator Sebi is considering if the proposed merger of Aditya Birla Group firm Idea Cellular with Vodafone Plc's India unit will trigger an open offer, sources said. Securities and Exchange Board of India (Sebi), in May this year, had sought clarification from Idea Cellular on the proposed merger. The Aditya Birla Group company had submitted the scheme of arrangement, or merger plan, to the regulator in April.

Paytm acquires majority stake in Insider.In
Paytm has acquired a majority stake in ticketing platform Insider.In, for events and properties, including NH7 Weekender, EDC and The Grub Fest, for an undisclosed amount. This will enable all Paytm customers discover a wide selection of events and book instantly, a company statement said. The country's organised events industry is currently at Rs 4,000 crore, with organised sporting leagues and events accounting for the largest portion of ticket sales, according to industry estimates. Online ticketing accounts for only 10% of the overall volume, due to limited event discovery.

NSDC receives its first dividend from ISDC
Charting a new phase of growth, National Skills Development Corporation (NSDC) earns its maiden dividend of Rs. 48.76 lakhs from its training partner IL&FS Skills Development Corporation (ISDC). NSDC holds 19.99% stake in ISDC, a joint venture between the IL&FS Education and NSDC, which was formed in the year 2011. ISDC is amongst the first few training partners funded by NSDC. In FY-2017, ISDCs declared a dividend of 5% of the paid-up share capital. During a NSDC board meeting organized in New Delhi on 11th July 2017, a cheque of Rs. 48.76 lakh was presented by RCM Reddy, MD & CEO, ISDC to Manish Kumar, MD & CEO, NSDC in the presence of NSDC Board Members.

Etihad in Manchester to get fuel directly from Essar Oil UK
Billionaire Ruia brothers-owned Essar Oil (UK) yesterday said it has won a contract to sell jet fuel (ATF) directly to Etihad Airways at Manchester Airport. Essar commenced supply to Etihad on July 1, the company said in a press statement. Essar Oil (UK) Ltd is a subsidiary of Essar Energy Ltd, which owns and operates the Stanlow Refinery located on the south side of the Mersey Estuary near Liverpool. Stanlow produces 16% of the UK's road transport fuels, including three billion litres of petrol and 4.4 billion litres of diesel, as well as 2 billion litres of jet fuel per year. Etihad Airways is the national airline of the United Arab Emirates (UAE) and part of the Etihad Aviation Group (EAG). It operates two flights per day direct from Manchester, UK to Abu Dhabi.

Gold tops Rs 29,000, up Rs 160 on firm global cues
Gold regained the Rs 29,000-mark by rising Rs 160 to Rs 29,050 per 10 grams at the bullion market largely in tandem with a firm global trend and persistent buying by local jewellers. Silver followed suit and recaptured the Rs 38,000-level on the back of increased offtake by industrial units and coin makers.

Skoda rolls out new Octavia at starting price of Rs 15.49 lk
Ashutosh Dixit – Director Sales, Service & Marketing at ŠKODA AUTO India launches the New Octavia.

Czech carmaker Skoda yesterday launched an all-new version of its best selling sedan Octavia in India with price starting at Rs 15.49 lakh (all India ex- showroom). The car will be available in both petrol and diesel engine options. The petrol version comes with two engine options of 1.4 litre and 1.8 litre, priced between Rs 15.49-20.89 lakh.

Hindustan Power acquires 15 solar projects in Japan
Hindustan Power, India’s largest Multinational Company in Renewable Energy, operating in the international markets is set to increase its footprint in international markets to 2GW by 2022.  The company has recently acquired 15 solar power generation projects in Japan and is poised to enter the emerging market of Bangladesh with 4 X 25 MWs solar projects at Trishal in Bangladesh

IISL launches 4 multi-factor equity indices
India Index Services & Products Ltd (IISL), an NSE group company, yesterday launched four multi- factor equity indices, which will provide diversified exposure with varied risk-return profile to investors. These indices are - Nifty Alpha Low-Volatility 30; Nifty Quality Low-Volatility 30; Nifty Alpha Quality Low-Volatility 30 and Nifty Alpha Quality Value Low-Volatility 30. They are designed to reflect the performance of portfolio of stocks that are selected based on combination of two or more factors selected from four single factors - Alpha, quality, value and low-volatility.

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