Suzuki Motor Corp lifts full-year net profit outlook on strong India, Volkswagen stake sale
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Japan’s Suzuki Motor Corp on Wednesday lifted its annual net profit forecast by 14 percent, citing better-than-expected earnings in India and windfalls from the sale of its stake in Volkswagen AG.
Japan’s fourth-largest automaker said it now expects a net profit of 125 billion yen ($1.03 billion) for the year to March 31, 2016, up from its previous forecast of 110 billion yen.
For the six months to Sept. 30, its net profit jumped 46.5 percent to 79.05 billion yen as it booked a profit of 36.7 billion yen from the sale of its Volkswagen stake.
Strong results during the period at its Indian unit, Maruti Suzuki India Ltd, also helped, it said.
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New Zealand's food safety regulator on Wednesday said it is investigating possible contamination in spice products of top Indian brands MDH and Everest after they faced scrutiny in other countries.
The United States and Australia have been looking into contamination after Hong Kong last month suspended sales of three spice blends of MDH and one of Everest, saying they contained high levels of a cancer-causing pesticide, ethylene oxide.
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The Canadian government has fined IT giant Infosys approximately Rs 82 lakh for allegedly failing to fulfil the complete employee health tax obligation for the financial year ending December 31, 2020.
This fine translates to over 134,000 Canadian dollars, according to a recent regulatory filing. "Penalty imposed on alleged underpayment of Employee Health Tax for the year ended December 31, 2020," stated the filing.
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Life Insurance Corporation of India (LIC) has got a three-year-extension from the Securities and Exchange Board of India (Sebi) to achieve 10 per cent public shareholding, the state-owned firm told the exchanges on Wednesday.
LIC has to get its public shareholding to 10 per cent on or before May 16, 2027.
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India’s largest cinema operator is in discussions to screen key matches during the International Cricket Council Men’s T20 World Cup, in a bid to lure patrons as movies continue to struggle at the box office.
“Our biggest focus is to stay relevant as a medium,” PVR Inox Ltd.’s Chief Financial Officer Nitin Sood said in an interview. The operator would show key games from the tournament, which starts next month, he said.
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Aadhar Housing Finance made a flattish stock market debut on Wednesday with its shares of housing finance company (HFC) getting listed at Rs 315 per share, a 0.22 per cent discount over its issue price of Rs 315 per share.
However, after listing the stock of the company moved up to 4.7 per cent at Rs 329 a piece in intraday deals on the BSE.
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