Companies and Markets

Companies & Markets

IndiGo Q2 profit jumps four-fold, beats estimates

InterGlobe Aviation-run IndiGo on Monday reported a massive spike in September quarter net at Rs 551.5 crore boosted by a one-time payment towards engine issues and delayed aircraft deliveries and higher margins.

The largest airline that controls over 38 per cent of the domestic air passenger market had reported a 139.8 crore net income in the corresponding quarter last fiscal year. For the reporting quarter, net soared 294.4 per cent.

Core sector growth hits 6-mth high of 5.2% in Sept

Eight core sectors grew to a six-month high of 5.2 per cent in September, helped by a robust performance in coal, natural gas and refinery segments, official data showed today.

The eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had witnessed a growth of 5.3 per cent in September last year.

The expansion in September is highest since April, when the core sectors' growth stood at 2.6 per cent.

IPO price band of Rs 275-290 values HDFC Life at Rs 58K cr

The Rs 8,700-crore initial public offering (IPO) of private life insurer HDFC Life Insurance will open on November 7 and close on November 9.

The price band has been fixed from Rs 275 to Rs 290 per equity share. At the upper end of the price brand, the insurer has been valued at Rs 58,260 crore.

SLR status for recap bonds likely: Secy

The government is considering all options, including making bank recapitalisation bonds eligible for inclusion in statutory limits for investment in government securities. "Statutory liquidity ratio status allows these bonds to be traded but they may not have an extra interest advantage," economic affairs secretary Subhash Garg told Bloomberg in an interview. "That is also being discussed and examined."

Investors may lap up Infosys offer to buy back shares

Participation of old shareholders, financial institutions and members of the founding team of Infosys will decide the fate of the company’s Rs 13,000 crore mega share repurchase scheme whose record date is November 1.

10 companies posted Rs 10K cr profit in FY17

Corporate profitability is steadily growing as 10 companies have crossed Rs 10,000 crore net profit mark in the last financial year. Over the past two years, the number of companies generating over Rs 10,000 crore in profit has more than doubled to 10

Jaitley has new worry — oil prices cross $60/barrel

Spelling more trouble for the government battling hard to bring a slowing economy back on a high growth trajectory, global oil prices on Monday breached the psychological mark of $60 a barrel. The rate jumped on anticipation that the Opec-led production cut, due for expiry next March, would be extended.

Brent crude oil futures, the international benchmark for oil prices, opened above $60 a barrel and gained further during the day to reach $ 60.63, close to the highest level since July 2015 and almost 36 per cent higher than 2017 lows recorded in June.

Beware of excess liquidity

The government deciding to infuse capital into the stressed banking sector enthused the market and gave it a fresh lease of life. The BSE Bankex gained 4.46 per centduring the week and this was despite the fact that the quality of assets deteriorated for private banks. The Sensex gained 707.26 points, or 2.31 per cent, to close at 33,157.22 points while the Nifty gained 176.50 points, or 1.71 per cent, to close at 10,323.05 points.