SPARC narrows net lose in Q1 on higher income, lower expenses

   Sun Pharma Advanced Research Company Ltd, the research arm of Sun Pharmaceuticals, Saturday posted a narrowed first quarter lose on account of higher income and slight decline in total expenditure.

  The research arm of Sun Pharmaceuticals reported net lose of Rs 16.50 million in the quarter ended Jun 30. 2015 compared with net lose of Rs 97.4 million during the same period a year ago.

  Total income rose during the quarter under consideration rose 21.17% to Rs 434.4 million from Rs 358.5 million a year ago, while total expenditure slightly fell to Rs 452.6 million from Rs 469.5 million a year ago.

  Earlier today, SPARC, separately, said it has received complete response letter from the US Food and Drug Administration for its new drug application for preservative-free eye drop, Latanoprost.

  Friday, share prices of SPARC ended at Rs 408.80, up 1.01% on the Mumbai Stock Exchange.

 

State-run OMC cuts diesel, petrol prices for third time in July

State-run OMC cuts diesel, petrol prices for third time in July

 

   MUMBAI, AUG 1: The government-run oil marketing companies late Friday cut the retail prices of petrol and diesel for the third time this month by Rs 2.43 per litre and Rs 3.60 per litre, respectively, effective from Saturday.

  After the cut, petrol prices in Delhi will become Rs 64.47 per litre, down from Rs 66.90 per litre. The new diesel price will be Rs 46.12 per litre compared with previous rate of Rs 49.72 per litre.

  On July 16, the base diesel and petrol prices were reduced by Rs 2 per litre, although some states including Delhi raised local taxes, which nullified this reduction.

  "Since last price change, there has been a decrease in international prices of both Petrol and Diesel. USD/INR exchange rate has, however, depreciated during this period. Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease," a statement by the Indian Oil Corporation Ltd (IOCL) said late Friday evening.  

   "The movement of prices in international oil market and USD/INR exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the statement added.

  IOCL also said that prices of non-subsidised LPG cylinders (14.2kg) in Delhi have been reduced to Rs 585 from Rs 608.50 per cylinder, a cut of Rs 23.50 per cylinder. The price of subsidised LPG will, however, remain the same.

  State-owned fuel retailers viz IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and dollar/rupee exchange rate in the previous fortnight.

Magma Fincorp Q1 net profit flat on higher NPA provision

 Magma Fincorp Q1 net profit flat on higher NPA provision

 

  

  MUMBAI, AUG 1 : Magma Fincorp Ltd Saturday said its first quarter consolidated net profit remained little changed after the company made higher provision for non-performing assets as per the revised regulatory framework for Non-Banking Finance Companies.

  Magma Fincorp reported consolidated net profit of Rs 452.2 million for the quarter ended Jun 30, 2015 compared with Rs 434 million a year ago, while total income rose nearly 12% to Rs 6.08 billion during the same quarter from Rs 5.44 billion a year ago.

  On Nov 10, 2014, the Reserve Bank of India revised NBFCs rule to mark bad loans. NBFCs from Nov 10 have to mark a loan as bad loans if the interest has not been paid for 90 days or 3 months as against earlier rule of six months.

  To compile with this rule, the company had to make extra provision for NPAs causing the same to jump to Rs 872.46 million in the June quarter from Rs 468.35 million a year ago.

   Friday, share prices of Magma Fincorp ended at Rs 91.10, up 3.29% on the Mumbai Stock Exchange.

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Indore: Pulses Closed Steady in Physical Market

Indore: Pulses Closed Steady in Physical Market

At Indore market , Chana Kantewala ended at Rs. 4450 per quintal, unchanged as compared to previous close. Arrivals were reported at 500 quintals, down by 500 quintals as compared to previous day. Chana Dal finished at Rs. 5550 per quintal, unchanged against previous close. Masoor Medium Barik at Indore market ended at Rs. 6850 per quintal, steady as against previous close. Estimated market supply was at 400 quintals, steady as against previous dayn#39;s arrival. Moong Chamki at Indore market ended lower at Rs. 6000 per quintal, lower by 7.69 per cent from previous dayn#39;s price level. Todayn#39;s arrivals are at 800 quintals, steady as against previous dayn#39;s arrival. Urad Local at Indore market finished strong at Rs. 7400 per quintal, higher by 1.37 per cent from previous trading day. Arrivals were reported at 500 quintals, unchanged as compared to previous dayn#39;s arrival. Tur MH Line at Indore market finished weak at Rs. 7400 per quintal, lower by 1.33 per cent as compared to previous day. Trade sources reported arrivals at 150 quintals, steady as against previous dayn#39;s arrival. Pulses in Indore Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Indore Chana Kantewala 4450 0 Indore Chana Dal 5550 0 Indore Masoor Medium Barik 6850 0 Indore Moong Chamki 6000 -500 Indore Urad Local 7400 +100 Indore Tur MH Line 7400 -100 nnbsp;

Turmeric in Physical Market Trading Steady in Sangli

Turmeric in Physical Market Trading Steady in Sangli

At Sangli market , Turmeric Rajapuri/Selam Finger is trading at Rs. 8800-8900 per quintal, unchanged as compared to previous close. Total arrivals are at 1500 quintals, steady as against previous dayn#39;s arrival. Turmeric Medium is offered at Rs. 8200-8300 per quintal, steady against previous close. Turmeric Desi Kadappa at Sangli market is quoted at Rs. 7500-7600 per quintal, steady as against previous close. Turmeric in Sangli Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Sangli Turmeric Rajapuri/Selam Finger 8800-8900 0 Sangli Turmeric Medium 8200-8300 0 Sangli Turmeric Desi Kadappa 7500-7600 0 nnbsp;

Maharashtra Pulses Physical Market Finished Steady

Maharashtra Pulses Physical Market Finished Steady

At Jalna market in Maharashtra, Tur Red closed at Rs. 6000-7200 per quintal, unchanged as compared to previous close. Total arrivals are at 25 quintals, down by 25 quintals as compared to previous day. Tur White finished at Rs. 6000-7200 per quintal, steady against previous close. Chana Gauran at Jalna market finished at Rs. 4350-4450 per quintal, steady as against previous close. Total market arrivals are at 25 quintals, down by 25 quintals as compared to previous day. Chana Pila at Jalna market closed at Rs. 4450-4600 per quintal, steady as against previous close. Estimated market supply was at 25 quintals, lower by 25 quintals as compared to previous day. Pulses in Maharashtra Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Jalna Tur Red 6000-7200 0 Jalna Tur White 6000-7200 0 Jalna Chana Gauran 4350-4450 0 Jalna Chana Pila 4450-4600 0 nnbsp;

Guar in Haryana Physical Market Trading Lower

Guar in Haryana Physical Market Trading Lower

At Adampur market , Guar Seed Loose is trading lower at Rs. 3650 per quintal, down by 1.35 per cent from previous trading day. Total arrivals are at 500 quintal, down by 100 quintal from previous dayn#39;s arrivals. Guar Seed All Paid is offered weak at Rs. 3750 per quintal, down by 1.32 per cent from previous price level. Guar Loose at Bhiwani market is trading firm at 3750 per quintal, higher by 2.74 per cent from previous dayn#39;s price level. Guar Gum at Bhiwani market is quoted strong at 8800 per quintal, higher by 5.71 per cent as against previous day. nnbsp; Guar in Haryana Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Adampur Guar Seed Loose 3650 -50 Adampur Guar Seed All Paid 3750 -50 Bhiwani Guar Loose 3750 +100 Bhiwani Guar Gum 8800 +475 nnbsp; Guar Seed Loose price at Siwani market is offered high at Rs. 3750 per quintal, up by 0.67 per cent from previous trading day. Arrivals were reported at 500 Bags, steady as against previous dayn#39;s arrival. Guar Seed Loose price at Ellanabad market is trading high at Rs. 3700 per quintal, up by 2.78 per cent as against previous day. Total arrivals are at 100 Bags, down by 50 Bags from previous dayn#39;s arrivals. Guar Gum at Ellanabad market is quoted weak at Rs. 7800 per quintal, down by 5.45 per cent from previous dayn#39;s price level. Guar in Haryana Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Siwani Guar Seed Loose price 3750 +25 Ellanabad Guar Seed Loose price 3700 +100 Ellanabad Guar Gum 7800 -450 nnbsp;

Mentha Oil in Physical Market Trading Strong in Rampur

Mentha Oil in Physical Market Trading Strong in Rampur

At Rampur market , Mentha Oil is trading high at Rs. 1030 per Kg, higher by 1.48 per cent from previous trading day. Traders reported arrivals at 10 Drums(1-drum=180kg), steady as against previous dayn#39;s arrival. Mentha Oil in Rampur Market (Prices in Rs. per Kg) Market Commodity/Variety Price Change Absolute Rampur Mentha Oil 1030 +15 nnbsp; Note: The above mentioned prices are in Rs. per Kg and arrivals are in Drums(1-drum=180kg).

Sambhal : Mentha Oil in Physical Market Trading Firm

Sambhal : Mentha Oil in Physical Market Trading Firm

At Sambhal market , Mentha Oil is trading high at Rs. 1035 per Kg, higher by 1.97 per cent as compared to previous day. Total arrivals are at 100 Drums(1-drum=180kg), steady as against previous dayn#39;s arrival. Mentha DMO is offered at Rs. 720 per Kg, unchanged against previous close. Mentha Flakes at Sambhal market is quoted strong at Rs. 1070 per Kg, higher by 1.9 per cent from previous day. Mentha Crystal at Sambhal market is offered strong at Rs. 1115 per Kg, higher by 2.76 per cent against previous day. Mentha Oil in Sambhal Market (Prices in Rs. per Kg) Market Commodity/Variety Price Change Absolute Sambhal Mentha Oil 1035 +20 Sambhal Mentha DMO 720 0 Sambhal Mentha Flakes 1070 +20 Sambhal Mentha Crystal 1115 +30 nnbsp;