Bankrupt mortgage-lender Dewan Housing Finance posted a net profit of Rs 934 crore in the December quarter on account of tax adjustments of Rs 1,973 crore. It had posted a loss of Rs 6,705 crore during the same period last year. The company reported a pre-tax loss of Rs 167.8 crore. Buoyed by the positive earnings the stock was up nearly 5 per cent at the end of day’s trade on the Bombay Stock Exchange. The mortgage lender said, based on the opinion from legal advisors, it did not provide for interest of Rs 527.6 crore on borrowings since the insolvency commencement date. “Under the Insolvency and Bankruptcy Code, the treatment of creditors under the resolution plan is as per debts due as on the insolvency commencement date and, therefore, no interest is accrued and payable after this date,” DHFL said in its exchange filing. If the interest was accrued on borrowings, the profit for the quarter and nine months would have been lower by Rs 392.4 crore, the company … [Read more...] about DHFL nets a profit in Q3 on tax adjustments, stock gains 5%
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Volume on US exchanges was 8.36 billion shares, compared with the 7.63 billion average for the full session over the last 20 trading days.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year. … [Read more...] about Wall Street eases, led by tech decline on mounting fears coronavirus could spread
Michael Lewis is a genius, and his book will give high-frequency trading a much-needed turn under the microscope. But even HFT skeptics admit that the practice probably isn’t making a dent in the personal finances of normal people. For the average investor with a Vanguard 401(k) or a state teacher’s pension, tweaking a portfolio to include more low-cost index funds is probably a better use of time than fretting about losing money to algorithms. … [Read more...] about Should You Be Worried About High-Frequency Trading?
NEW DELHI: Bharti Airtel Chairman Sunil Mittal said that the government is “very focussed” on reviving sustainability of the telecom sector amid the adjusted gross revenue (AGR) crisis which has added to the financial stress of the industry. He added that Airtel will pay up its balance AGR dues as per its calculations much before March 17, the next date of hearing in the Supreme Court in the case. Sources said Airtel may pay up as early as by end of February. It has already paid Rs10,000 crore to the government. “The AGR has been a major crisis for the industry that is being dealt with by the government. This government is very focused on reviving sustainability of the sector,” Mittal told reporters, after meeting telecom minister Ravi Shankar Prasad on Thursday. Wednesday, he had met finance minister Nirmala Sitharaman. “…All these meetings which are happening reflect how the government is alive to the situation faced by the sector,” he … [Read more...] about Govt dealing with AGR crisis, focussed on reviving sustainability of sector: Sunil Mittal
Investors aren’t thrilled about the market debut of yet another gaming company built on the back of a single, massively trendy game, judging from King’s stock price, which has fallen 10 percent since it opened this morning. 78 percent of King’s revenue comes from Candy Crush Saga, and once that game inevitably loses its luster, the company will have to produce other hits or else suffer the same fate as game-makers like Zynga and OMGPop. … [Read more...] about Candy Crush’s Maker Is Now a Publicly Traded Company, So That’s Cool