Business

Shares of Pidilite Industries fell almost 3 percent intraday on June 18, a day after the company reported a nearly 34%  year-on-year (YoY) decline in its consolidated net profit to Rs 156.51 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 236.87 crore for the January-March period of 2018-19. Its revenue from operations declined to Rs 1,544.68 crore for the fourth quarter as compared with Rs 1,639.28 crore in the same period of 2018-19, Pidilite Industries said in a regulatory filing. For…

Shares of Coal India jumped almost 8 percent in intraday trade on BSE on June 18 after the Prime Minister Narendra Modi on Thursday launched the auction process for 41 coal blocks for commercial mining. The government’s move will open India’s coal sector for private players and termed as a major step in the direction of India achieving self-reliance. As per a PTI report, the Prime Minister said the launch of the auction process not only marks the beginning of unlocking of the country’s coal sector from the “lockdown of…

Bombay: Markets have been volatile for the last few days, and June 17 was no different with 100 points swing on either side. Nifty finally settled at 9,881 down by 0.33% for the day. Broader market indices, BSE Midcap and Smallcap, outperformed benchmark indices with a gain of 0.32% and 0.71%, respectively, for the day. The market breadth on NSE was in favour of bulls with an advance-decline ratio of 5:4. Nifty witnessed reversal from its 100-Day moving average (DMA) at 10,327, and Friday’s gap opening found support at 9,544…

Lucknow: Micro, Small and Medium Enterprises (MSMEs) in UP have flagged a number of loopholes in the skill mapping database of migrants received from the government, complaining of “improper” data collection characterised by mismatch of skills, workers, and incorrect contact information, which they said posed a challenge for matching labour needs of firms with workers willing to be employed. They also said a lot of migrants who were called were not interested in working in industries. A centralised list has been given to the MSMEs that will address their issues,…

New Delhi: India’s industrial production shrank by a record of 55.5% in April from the year earlier with manufacturing crashing 64.3%, as computed from data released by the government, which didn’t provide a number for the change from April 2019 because of the Covid-19 lockdown. The ministry of statistics & programme implementation also withheld the headline retail inflation figure for May but official data showed retail food inflation rose 9.28% on year last month. It had also withheld the headline inflation number for April on the grounds that the data…

New Delhi: State Bank of India (SBINSE -3.13 Per cent) moved the insolvency court to recover more than Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law. It said Ambani had personally guaranteed loans taken by Reliance Communications NSE -5.00  Per cent, currently undergoing insolvency proceedings, which the state-owned lender is trying to recover. SBI moved the National Company Law Tribunal (NCLT) under Section 97(3) of Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional…