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  • Moody’s downgrades JSW Steel’s corporate family rating | The Financial Express
    by 51 per cent in the said quarter to Rs 3 443 compared to last year s Rs 6 987 While JSW has undertaken several measures to reduce costs conserve cash flow and minimise the rise in debt the severe drop in steel prices has strained earnings and increased leverage Looking ahead the agency said it expects an increase in the company s shipments with commencement of the incremental 4 million tonnes per annum MTPA brownfield expansions and the continued growth of retail sales through the expansion of its shoppe outlets both benefiting from relatively strong domestic demand As a result we estimate leverage to improve in FY 2016 17 although it will still be weakly positioned for the rating it added First Published on February 4 2016 9 01 am Tags JSW Steel Moody s Please Wait while comments are loading More on this story Hold rating on JSW Steel Preferred over its Indian peers but estimates down Moody s keeps Bharti Airtel s rating unchanged 2016 to be a challenging year for Asian corporates Moody s Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep

    Original URL path: http://www.financialexpress.com/article/industry/companies/moodys-downgrades-jsw-steels-corporate-family-rating/206960/ (2016-02-08)
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  • JSW Steel reports Rs 923-cr loss | The Financial Express
    122 crore in the December quarter A subdued business environment led to JSW Steel reporting the lowest EBITDA per tonne since 2008 at Rs 3 443 per tonne in Q3FY16 which is half of Rs 6 995 per tonne reported a year ago The reported EBITDA per tonne was lower than what it should have been mainly because of a planned shutdown of 3 blast furnaces which had some fixed costs that had to be taken in the profit and loss statement else the EBITDA per tonne without fixed costs despite shutdown would have been about Rs 4 700 per tonne Rao said First Published on January 30 2016 1 06 am Tags JSW Steel Please Wait while comments are loading More on this story Hold rating on JSW Steel Preferred over its Indian peers but estimates down Moody s downgrades JSW Steel s corporate family rating JSW Steel Q3 consolidated net loss at Rs 923 crore Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by

    Original URL path: http://www.financialexpress.com/article/industry/companies/jsw-steel-reports-rs-923-cr-loss/204326/ (2016-02-08)
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  • JSW Steel Q3 consolidated net loss at Rs 923 crore | The Financial Express
    3 17 MT in the year ago period whereas saleable steel sales declined by 16 per cent to 2 55 MT from 3 03 MT Topline was impacted by both lower volumes due to planned shutdowns of blast furnaces as well as lower steel pricing which in turn was exacerbated by a surge in imports at predatory prices JSW Steel Joint Managing Director Seshagiri Rao told reporters here We had to review the overseas investments made during last few years since prices of crude oil coal and iron ore have significantly fallen from the time of investment and as per the appointed external agency an impairment charge had to be taken in the December quarter Rao said In the third quarter JSW Steel recorded impairment charges of Rs 2 121 crore towards fixed assets goodwill and other assets comprising Rs 905 crore for its US operations of plate and pipe mill Other charges include Rs 172 crore for its coal mines operations in the US and Rs 1 045 crore for iron ore mines operation in Chile A grim business climate also led to JSW Steel reporting the lowest EBITDA per tonne since 2008 at Rs 3 443 per ton in the December quarter The blast furnace at Vijayanagar Karnataka which underwent a planned shutdown for relining and modification from August 2015 is expected to get restarted in the last quarter of the current fiscal Rao said The blast furnaces at Dolvi Maharashtra and Salem Tamil Nadu too went under shutdown for capacity expansion during the quarter and are likely to get re commissioned in the last quarter of 2015 16 Other ongoing projects are progressing satisfactorily and are likely to complete as per schedule Rao said First Published on January 29 2016 9 23 pm Tags JSW Steel Steel Please Wait while comments are loading More on this story Hold rating on JSW Steel Preferred over its Indian peers but estimates down Moody s downgrades JSW Steel s corporate family rating JSW Steel reports Rs 923 cr loss Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at

    Original URL path: http://www.financialexpress.com/article/industry/companies/jsw-steel-q3-consolidated-net-loss-at-rs-923-crore/204190/ (2016-02-08)
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  • Print: Overweight rating on ICICI Bank: Q3FY16; Poor show – The Financial Express - Page 99
    to 15 a common theme across the large private sector banks Margins remained largely stable although Q4 and F17e could see some impact from the large NPL recognition Fees remain weak at 7 y o y Earnings revision The P L impact of the incremental NPL provision is not large While we have pushed up our credit costs to 186bp for F16e this is offset by the profit from the insurance sales of R33 bn The upfronting of the NPL recognition should be offset by lower provisions in FY17 FY18e we are not capturing that until we assess the impact of early recognition on LGDs Q3FY16 Conference call highlights Asset quality Out of the total slippages of R65 4 bn R43 5 bn was on account of a change in asset reclassification as per RBI in only one account in the steel sector The normalised slippages excluding this were lower at 2 07 v s 2 22 in Q2FY16 Management expects slippages of R65 bn in Q4FY16 at similar levels as in Q3FY16 Almost 2 3rd of the slippages are expected to be due to the change in asset reclassification as per RBI in the power sector Management believes that the change in asset reclassification is not likely to impact the recoverability of the asset Management did not give any guidance on the asset quality in FY17e The bank will make additional provisions of R3 5bn for vulnerable restructured assets at 10 as per RBI directive The bank classified R4 5bn of assets under 5 25 scheme and R16 7 bn of assets under the SDR route The current pipeline under 5 25 scheme is at R7bn R12bn under the SDR route A substantial part of the incremental delinquencies were classified under the doubtful category the corollary of it is

    Original URL path: http://www.financialexpress.com/article/markets/indian-markets/overweight-rating-on-icici-bank-q3fy16-poor-show/208563/99/print/ (2016-02-08)
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  • icici-bank-2 | The Financial Express
    Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan Real Madrid s Cristiano Ronaldo 31 soccer star and entrepreneur All you need to know in 8 slides How Zika virus infection can spread From mosquito bites to urine transmission top 5 points to note International Fleet Review 2016 President Pranab Mukherjee reviews naval fleet Asteroid TX68 to pass by Earth on March 5 at 9 000 17 000 km distance NASA Earthquake in Nepal 5 5 magnitude quake injures 15 tremors rock Bihar too Horoscope By Peter Vidal Today 08 Feb This Week 07

    Original URL path: http://www.financialexpress.com/article/markets/indian-markets/overweight-rating-on-icici-bank-q3fy16-poor-show/208563/attachment/icici-bank-2-2/ (2016-02-08)
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  • Top 12 stocks that remained in focus today: FTIL, Shoppers Stop, IRB Infra and more | The Financial Express
    10 89 per cent up at Rs 746 90 after it reported a 25 06 per cent increase in standalone net profit at Rs 675 74 crore in the third quarter ended December 31 PVR Shares of the multiplex operator closed 2 29 per cent up at Rs 753 35 after it reported 5 29 per cent decline in consolidated net profit at Rs 29 88 crore for the third quarter ended December 2015 due to sharp increase in tax expense TVS Motors Shares of the two wheeler company closed 0 05 per cent down at Rs 291 50 in morning trade after it reported results for third quarter ended December 31 2015 The company reported 19 43 per cent rise in its net profit at Rs 107 70 crore for the third quarter as compared to Rs 90 18 crore for the same quarter in the previous year NTPC The state run company closed 1 32 per cent down at Rs 142 20 after it reported 18 90 per cent decline in standalone net profit at Rs 2 492 87 crore for the third quarter ended December due to decline in revenue from the power generation segment IRB Infrasturcture Developers Stocks of the company closed 3 69 per cent up at Rs 243 35 after it reported 27 95 per cent rise in consolidated net profit at Rs 169 60 crore for the quarter ended December 31 on the back of higher income from operations Engineers India Shares of the company ended 0 52 per cent down at Rs 193 05 after the government on Thursday fixed the floor price of Rs 189 per share for selling its 10 per cent shareholding in Engineers India Ltd that would fetch it about Rs 637 crore The floor price fixed for sale of 3 36 crore shares through an offer of sale OFS on January 29 is at a discount of 2 4 per cent to the closing price of Rs 194 05 on BSE on Thursday Vedanta Ltd Metals and mining conglomerate reported a steep 98 9 per cent fall in its consolidated net profit at Rs 17 91 crore for the third quarter ended December weighed down by challenging market conditions Share price of the company closed 6 62 per cent up at Rs 71 70 Shoppers Stop Shares of the retail chain group 3 26 per cent up at Rs 392 50 after it reported 71 31 per cent jump in net profit at Rs 23 59 crore for the third quarter ended December 31 driven by festive season sales First Published on January 29 2016 9 17 am Tags Bharti Airtel HCC ICICI Bank Stocks In Focus Please Wait while comments are loading More on this story Overweight rating on ICICI Bank Q3FY16 Poor show Top 10 stocks that trended in today s trade Jindal Steel Lupin and more Top 10 stocks that trended in today s trade ABB India Mphasis and more Calculators Tax Calculator House

    Original URL path: http://www.financialexpress.com/article/markets/indian-markets/stocks-in-focus-news-on-today-on-bse-sensex-nse-nifty-on-jan-29-2016/203804/ (2016-02-08)
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  • ‘We expect similar NPA provisions in Q4’ | The Financial Express
    and rise in the sales of commercial vehicles Some SMEs have started receiving orders on account of railway and highway contracts being awarded So in that sense there are some parts of the economy really ticking Besides the retail side continues to be strong But I think delayed cashflows faced by larger projects of the larger groups remain a challenge This is coupled with the fact that commodity prices have been so low That has caused cashflow pains for some of the leveraged groups Where do you see your bad loans in Q4 The RBI s review exercises will be spread across two quarters therefore it can be a similar amount of provisions in the next quarter as well On a gross basis Rs 6 544 crore of loans slipped in the third quarter and almost 60 of it was because of RBI s reclassification Almost the entire provision of Rs 2 844 crore was owing to bad loans in the December quarter In case of net interest margin NIM we will have to watch it because now that the marginal cost of funds guidelines have come and there will be non recognition of income on some of these accounts So we will have to watch how the NIM flows Where did corporate loan growth originate in Q3 The demand is from better rated companies for refinancing their debt So we have also grown in that segment As of now we do not see a pick up in private investments but with the government spends we will see a positive effect on the smaller companies Our focus has been to look at refinancing of highly rated companies and through that we have achieved a very healthy growth of 15 We have refinanced less than Rs 500 crore through the 5 25 window in the third quarter and the bank has restructured loans through the RBI strategic debt restructuring scheme worth Rs 1 600 crore First Published on January 29 2016 12 52 am Tags Chanda Kochhar ICICI Bank Please Wait while comments are loading More on this story Overweight rating on ICICI Bank Q3FY16 Poor show Top 12 stocks that remained in focus today FTIL Shoppers Stop IRB Infra and more ICICI Bank net profit grows 4 as provisions soar Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/we-expect-similar-npa-provisions-in-q4/203741/ (2016-02-08)
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  • ICICI Bank net profit grows 4% as provisions soar | The Financial Express
    that even in the coming quarter addition to bad loans could be similar to Q3 The increase really is mainly on account of loans to steel companies Well some cases related to the power sector could be there in the March quarter she added She said of Rs 6 544 crore loans that slipped in the third quarter more than 60 were because of the Reserve Bank of India s RBI reclassification and almost the entire provisions of Rs 2 844 crore were owing to bad loans in the December quarter But I think that the challenge remains regarding the larger projects of the larger groups are facing delayed cashflows and that is coupled with the fact that commodity prices have been so low That has caused cashflow pains for some of the leveraged groups Kochhar explained Kochhar said that the growth in the corporate book is mostly from refinance of highly rated corporate debt Our focus has been to look at the those refinancing of highly rated corporates and through that we have achieved a very healthy growth of 15 Kochhar said Its asset quality suffered in Q3 owing to a 33 sequential rise in gross non performing loans In the December quarter Rs 6 544 crore loans were classified as NPA of which Rs 1 355 crore were restructured loans that turned NPA in the quarter Kochhar said that more than 60 of the bad loans in December quarter have been owing to the Reserve Bank of India RBI directive to review certain accounts and their classification over two quarters Total deposits increased by 15 y o y to Rs 4 07 lakh crore and the bank s current accounts savings account ratio stood at 40 7 ICICI Bank shares on the BSE closed at Rs 232 95 on Thursday down 1 69 First Published on January 29 2016 12 39 am Tags ICICI Bank Please Wait while comments are loading More on this story Overweight rating on ICICI Bank Q3FY16 Poor show Top 12 stocks that remained in focus today FTIL Shoppers Stop IRB Infra and more We expect similar NPA provisions in Q4 Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/icici-bank-net-profit-grows-4-as-provisions-soar/203714/ (2016-02-08)
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