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JSW Q1 Profits, EU to Put Retaliatory Tariffs on US Goods et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 25, 2018 1:43 PM 2 min read
Editorial

#JSW #NTPC #NHPC #Reliance #Jio #EU #Asus #Philips #Pioneer #Transfin

Editor's Comment: JSW steel Q1 net profits rise 280% YoY to INR2,318cr and revenue rises 25.3% YoY to INR25,577cr. This quarter’s performance was driven by higher steel prices and productivity.

 

Govt discussing sale of its stake, worth INR18.200cr, in NHPC Ltd to NTPC Ltd. The govt currently holds 73.67% stake in NHPC Ltd, as they look to finalise the deal within this fiscal year. The govt plans to consolidate state-run energy companies to give them global size and scale.

 

Reliance Jio to invest INR50,000cr in the next 2-3 years to expand business in fixed broadband, as well as media and content delivery platform. Jio is putting together of team of 10,000 people as they look forward to one of the largest and fastest deployments of fibre-to-home (FTH) services in the world.

 

L&T Q1 net profits rise 43.1%% YoY to INR1,472cr and revenue rises 17% YoY to INR28,527cr. L&T received orders worth INR36,100cr during this quarter. Performance was driven by infrastructure, heavy engineering and hydrocarbons.

 

EU to put retaliatory tariffs on $20bn of US goods, if US imposes tariffs on imported cars. EU is preparing a list of goods almost worth $20bn, as per EU trade commissioner Cecilia Malmstrom if they fail to come to a successful negotiation with people in Washington.

 

EU fines manufacturers Asus, Denon & Marantz, Phillips and Pioneer for €111mn over anti-trust issues. These companies used fixed prices for online resale, which meant that retailers online could not lower prices on the digital platforms, than the ‘fixed or minimum resale price maintenance (RPM)’.