CapitalHeight

The Indian rupee has seen the worst day in its history on Tuesday, touching 70 a dollar for the first time, led by depreciation in the Turkish Lira that put more pressure not only on Euro but also on other Asian currencies. The fall in currency started couple of days back, taking total dip to 2.4 percent in August and year-to-date around 10 percent.      For Expert Advice Click here: CapitalHeight .         The Turkish lira has plunged by about 25 percent in a week or 45 percent on a year-to-date basis, due to heady mix of high foreign debt, rising  CAD and deteriorating political situation. Although India is less vulnerable relative to other EMs in terms of external debt and current account deficit, but if the crisis continues further, it could hurt economic recovery.         India's annual  rate of inflation  based on wholesale prices eased to          5.0...

   The Majesco Company has reported strong numbers for the quarter ended June 2018.The Company’s Q1FY19 consolidated net profit rose 47.5 percent at Rs 14.9 crore against Rs 10.1 crore Q4FY18.The company had reported net loss of Rs 5.0 crore in Q1FY18.Revenue was up 6.1 percent at Rs 229.4 crore against Rs 216.7 crore. Operating profit or EBITDA was up 17 percent at Rs 18 crore and margin was at 7.85 percent.      For Expert Advice Click here: CapitalHeight .         The International Paper APPM company has reported a whopping 88.1 percent year-on-year increase in profit to Rs 45 crore in Q1 on strong operational performance. Revenue grew by 9.36 percent to Rs 340 crore compared to Rs 311 crore in same period last year.shot up 52 percent year-on-year to Rs 88.2 crore and margin expanded 720 basis points to 25.9 percent in June quarter.           Sequent Scientific share price rallied 20 percent after...

Bajaj Auto lost around 8 percent on Friday afternoon as investors turned wary of its results that the company declared. The stock touched an intraday high of Rs 3,152.45 and an intraday low of Rs 2,864.00.India's third largest two-wheeler maker missed analysts' expectations by reporting a 20.7 percent year-on-year rise in its standalone net profit for the quarter ended June. The company's net profit came in at Rs 1,115.23 crore.     For 2 Days Free Trial Click here: CapitalHeight .     The initial public offering (IPO) of TCNS Clothing was subscribed over 2.08 times on Day 3 of bidding so far. The IPO, to raise Rs 1,125-crore, received bids for 2.29 crore shares against the total issue size of 1.09 crore shares, data available with the NSE as of 11:45 am showed. The portion set aside for qualified institutional buyers (QIBs) was subscribed 7 times, non-institutional investors 0.11 times percent and retail investors at 0.12 times. Price band for...

    Lupin received tentative approval from the US health regulator for its Tadalafil tablets, indicated for treating erectile dysfunction and prostate gland enlargement. The clearance from the United States Food and Drug Administration (USFDA) is for marketing Tadalafil tablets in strengths of 2.5 mg, 5 mg, 10 mg, and 20 mg, in the US, Lupin said in a statement. The product is a generic version of Eli Lilly and the company's Cialis tablets in the same strengths, it added.      For Expert Advice Click here: CapitalHeight .         Shares of Hindalco lost around 8 percent afternoon after reports emerged that it is likely to acquire Aleris for USD 2.5 billion. According to sources the company and its Canadian arm, Novelis, is in process of raising debt for the said deal. Investors may have taken note of this point as the firm already has a consolidated net debt of Rs 40,000 crore. Further, the report added that the compani...

The National Company Law Appellate Tribunal (NCLAT) today turned down the plea of UK-based Liberty House to stay the resolution process of Bhutan Power and Steel. A two-member bench of the appellate tribunal.For Expert Advice Click here: CapitalHeight .         The share price of oil-to-telecom major Reliance Industries was on an upward journey for the fifth consecutive day on Thursday, which helped it become the second company to hit $100 billion market capitalization after TCS in 2018. RIL had hit $100 billion market cap in 2008 as well, when the rupee was around 40 to the dollar. The Mukesh Ambani-led company's market capitalization stood at Rs 6, 85,736.98 crore at its record price level and TCS at Rs 7, 54,612.17 crore. (One US dollar = Rs 68.64).         Karnataka Bank has reported highest ever quarterly profit at Rs 163.2 crore, a growth of 22 percent over Rs 133.85 crore recorded is also expecting growth. The HCL Tec...