Real-Time EquityWire is available only to registered users. This is best for professional traders and people who track markets actively.Real-Time EquityWire is available only to registered users. This is best for professional traders and people who track markets actively.
The Securities and Exchanges Board of India Friday introduced a framework for foreign portfolio investors and foreign venture capital investors called single window automatic and generalised access for trusted foreign investors--SWAGAT-FI. This is to seek public comments on proposals to improve ease of investments by simplifying onboarding and ongoing compliances for a specific set of FPIs, SEBI said in a consultation paper. Read more
The Securtities and Exchange Board of India Friday floated a consultation paper which proposes to introduce option of alternative investment funds, exclusively for accredited investors which will have easier regulation framework. The draft circular is open for comments by market participants and public by Aug. 29, SEBI said. Read more
By Rajesh GajraThe bottom line performance of Jindal Steel & Power Ltd. for the June quarter on a year-on-year basis is likely to take a hit from a flat growth to a single digit decline in the operating profit. The top line growth is likely to have declined mainly due to a fall in volume but this will be partly offset by an increase in realisations of long steel products sales by the company. The company's volume will likely fall amid early onset of monsoon, according to analysts. Lower input cost will likely result in operating profit growth but it may be in low to mid single digits. Read more
By Narayana KrishnaSlow growth in overall occupancy and a fall in international patient footfall in the hospitals business are likely to weigh on Apollo Hospitals Enterprise Ltd.'s June quarter consolidated earnings. The Chennai-based healthcare services company is expected to report its lowest net profit growth in seven quarters on a year-on-year basis due to a moderate growth in the hospitals business, according to analysts. Read more
By Narayana KrishnaHindalco Industries Ltd. is expected to report a strong year-on-year performance for the June quarter, supported by healthy growth in its domestic aluminium business and higher copper prices, analysts said. However, weakness in global commodity prices and the adverse impact of tariffs on its US subsidiary Novelis Inc. may weigh on overall profitability on a quarter-on-quarter basis, according to analysts. Read more
By Narayana KrishnaNMDC Ltd. is expected to report a fall on a year-on-year basis in its net profit during the June quarter due to high base and high royalty and employee expenses, analysts said. The company is likely to see a higher double-digit growth sequentially led by an improvement in iron ore price realisation, according to analysts. Read more
There has not been a single case of engine failure or breakdown reported since E20, or petrol blended with 20% ethanol, became a base fuel 10 months ago, Petroleum Minister Hardeep Singh Puri said on the sidelines of the Pioneer Biofuels 360 Summit, according to a release from the Ministry of Petroleum and Natural Gas. Read more
Exporters, in consultations with the commerce ministry after the US announced a 50% tariff on Indian goods, communicated to the government that they don't want a trade deal with the US at the cost of India's national interests, a top official from the ministry said. Indian goods in the US are now subject to 25% duty, which is set to rise to 50% from Aug. 27. Read more
By Sunil RaghuAditya Birla group's flagship chemicals company Grasim Industries Ltd. reported a loss for the June quarter but the number was better than expected. The loss was primarily due to a sizeable rise in costs, including raw material costs, electricity and employee costs. However, the revenue from operations not just beat the Street's estimate, but its on-year growth was the highest in the last 11 quarters. The company's revenue saw growth across all segments – paints, cement, chemicals and cellulosic staple fibres – the company's earnings press release showed. Read more
By Anand JCOil and Natural Gas Corp. Ltd.'s operating profit for the June quarter is expected to take a knock on a year-on-year and quarterly basis due to lower oil price realisation as Brent crude prices have tumbled, according to analysts. Consequently, ONGC's net profit for the quarter is expected to contract year-on-year for the third consecutive quarter. Read more
