Maruti Suzuki quarterly loss of Rs 249 crore
Maruti Suzuki quarterly loss of Rs 249 crore
(Commercial Representative) Mumbai, Ta. 30 July 2020, Thursday
Maruti Suzuki India Limited, India's largest carmaker, has reported weaker-than-expected results for the first quarter ended June 30, 2020. The company has posted a quarterly net loss of Rs 4.5 crore this time, compared to a net profit of Rs 12.5 crore in the same period last year. The company had posted a net profit of Rs 131.5 crore in the quarter ended March 2020. The company's revenue also fell 4.5 per cent to Rs 2,108.5 crore as a result of the lockdown. The company had sold 2.7 lakh units in the quarter, down 21 per cent from 2,09,400 units in the year-ago period. The company's other revenue grew by 4.5 per cent to Rs 1,212.5 crore.
The value of LIC's portfolio is Rs. 1.50 trillion growth
Big rally contributes to Reliance's share price
At the end of March 2020, LIC's holdings in listed companies, which stood at Rs 2.7 trillion, have now risen to Rs 2.7 trillion, an increase of Rs 1.2 trillion.
The Sensex and Nifty have risen by 30 per cent in the current financial year. LIC's portfolio has been valued by a research firm based on data from 21 companies in which LIC held more than 1 per cent holdings in the June 2020 quarter.
Out of the total market cap of the companies listed on the BSE, these 21 companies have a market cap of 8%. Reliance prices have risen about 150 per cent since the March 2020 low.
The 6 per cent increase in LIC's portfolio in the current financial year is due to Reliance's stock holdings.
ArcelorMittal quarterly net loss of ૯ 25 million
ArcelorMittal, the world's largest steelmaker, posted a net loss of ૯ 25 million as a result of the Covid-17 in the second quarter ended June 30, 2020, the most difficult period in the company's history. The company had posted a net loss of 25 million in the same period last year. Integrated steel and mining giant company headquartered in Luxembourg follows the financial year January to December. The company had sales of 11 billion in the June-end quarter, up from ૩ 12.5 billion in the same period last year. Total steel shipments by the company grew by 4.5 per cent to 1.8 million tonnes in the quarter. The Covid epidemic has had the opposite effect in all regions. Lakshmi N Mittal, chairman and CEO of ArcelorMittal, said the first six months of the year and especially the second quarter have been the most difficult in the company's history. Demand for steel has dropped significantly due to the Kovid-12 epidemic.
HDFC Ltd's quarterly profit fell 3% to Rs 303 crore
Provision of Rs. 115 crore for Covid-12 Net interest income increased by 10% to Rs. 5 crore
Moratorium II accounts for 12.5 per cent of the company's personal loan portfolio. The company has announced that it has taken a moratorium to account for 4.5 per cent of the total loan. The company has made a provision of Rs 113 crore for Covid-15 in the quarter. The company's revenue rose 0.6 per cent to Rs 1,013.5 crore from Rs 12,60.5 crore. Net interest income (NII) has increased by 10 per cent to Rs 5 crore as compared to Rs 206 crore.
The company said the nationwide lockdown has affected the retail business. However, in the following month, the personal loan business has improved since April 2020. In June 2020, 3% of loans have been disbursed. Which has continuously increased even in July 2020.
The US Federal Reserve kept interest rates close to zero
The rate will remain the same until the economy improves
The US Federal Reserve has kept the benchmark interest rate close to zero and will use every means at its disposal to support the economy, which is currently reeling from the coronavirus, according to a statement issued at the end of a two-day meeting of the Federal Open Market Committee.
The pace of the American economy depends on how long the virus lasts. The country's economic activity and employment have improved, but are still much lower than they were at the beginning of the year, the Fed said. The Federal Reserve's interest rate will remain close to zero until it is certain that the economic outlook posed by the epidemic poses a broader risk to the economic outlook and challenges to the economy are overcome. The committee unanimously decided to keep the interest rate between zero and 0.5 per cent.
Comments
Post a Comment