State-owned Indian Railway Catering & Tourism Corporation (IRCTC) gained 22 percent after the company registered a healthy 179.66 percent (or 2.8-fold) year-on-year growth in Q3FY20 profit, driven by all segments. Profit during the quarter stood at Rs 205.8 crore, up from Rs 73.59 crore in the same period last year. The sequential growth was 106.17 percent. Revenue from operations grew by 64.59 percent year-on-year to Rs 715.98 crore in the quarter ended December 2019 and the same increased 39.5 percent sequentially, the company said in its BSE filing. … [Read more...] about Movers & shakers: Top 10 stocks which moved the most this week; IRCTC, Mishra Dhatu top the chart
Ardian private equity
"Rupee started the day at weak note crossing beyond 71.50, majorly on back of selling from institution in risky assets as FIIs (are) likely to be pulling out money from equities as the global market keep a check on slowdown affects on rising Corona virus fears in China," LKP Securities Senior Research Analyst (Commodity & Currency) Jateen Trivedi said. … [Read more...] about Rupee slips 24 paise to settle at 71.56 against US dollar
No wonder the Wall Street Journal printed an article headlined ‘China is the Real Sick Man of Asia’ with the strapline ‘Its financial markets may be even more dangerous than its wildlife markets.’ The nub of the article: ‘Given the accumulated costs of decades of state-driven lending, massive malfeasance by local officials in cahoots with local banks, a towering property bubble, and vast industrial overcapacity, China is as ripe as a country can be for a massive economic correction. Even a small initial shock could lead to a massive bonfire of the vanities as all the false values, inflated expectations and misallocated assets implode.’ China expelled three WSJ journalists for that report. … [Read more...] about Moneycontrol Pro Weekender: The sick man of Asia
(The intellectual property rights to these data are owned by or licensed to IHS Markit. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without IHS Markit’s prior consent. IHS Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon. In no event shall IHS Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. IHS Markit is a registered trademark of IHS Markit Ltd and/or its affiliates.)Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first … [Read more...] about 100-word take: Weak December Manufacturing PMI another reason for RBI to cut rates
Frauds in banks are increasing by leaps and bounds. The Reserve Bank of India’s Financial Stability Report says the total amount involved in frauds of Rs 1 lakh and above was Rs 18,698.8 crore in 2015-16 which went up to Rs 23933.9 crore in 2016-17, which exploded to a massive Rs 41167.7 crore in 2017-18. … [Read more...] about Quick Take | With so many frauds in PCA banks, why take the risk of allowing them to lend?