<ul><li>Adani Ports acquired <keyword id="3400982" type="PERSON" weightage="20" keywordseo="adani-agri-logistics">Adani Agri Logistics</keyword> Ltd. (AALL) from Adani Enterprises for ₹9.5 billion.</li><li>The move has caused serious anxiety among investors and analysts.</li><li>Significant increase in related-party transactions remains a key credit risk, says S&amp;P.</li></ul>Global ratings agency S&amp;P Global has issued a warning to Adani Ports and Special Economic Zones, two days after the company announced ₹9.5 billion <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/fe8eb742-eb77-45cc-a212-26547413de94.pdf" data-type="tilCustomLink" target="_blank">deal</a> to acquire a group company Adani Agri Logistics from the parent company Adani Enterprises. Adani Ports is paying top dollar for a loss making company that may turn profits only three years from now, leading investors and analysts to suspect shady intent. "Acquisition of logistics assets from a related party is negative for its credit profile even though the transaction is not material financially. Any significant increase in related-party transactions remains a key credit risk for APSEZ, even if financial ratios stay above our downgrade trigger," the S&amp;P said in a note today. Essentially, the ratings agency is saying that it does not matter how good or bad the financial health of Adani Ports is, it may still downgrade the company if it fears that funds are being moved between group companies unfairly or in a less transparent manner. While the deal may be legally valid, the onus is on the Adani Group to follow a higher standard of governance. The warning from S&amp;P is not the first one. The move had left a bad aftertaste among investors and analysts who fear the deal may hurt the returns from Adani Ports — and that the only one who may benefit from the deal is the promoter group. "This acquisition value appears excessive, especially in light of negative return on equity in FY18,” said Atul Tiwari, analyst, Citigroup, in a client note, as <a href="https://economictimes.indiatimes.com/markets/stocks/news/adani-ports-tanks-over-8-agri-unit-buyout-appears-expensive-says-citi/articleshow/68162000.cms" data-type="tilCustomLink" target="_blank">reported</a> by the Economic Times on Tuesday. “The surprise acquisition might lead to a resurgence of investor concern around related party transactions and capital allocation again.” The shares of Adani Ports have declined over 7% in the three trading sessions since the deal was announced. The company's promoters had pledged a big chunk of their stock to lenders, with no clear means in sight to retrieve them. Promoters held 62.30% stake in Adani Ports as on December 31, 2018 of which 45.51% was pledged, the Economic Times <a href="https://economictimes.indiatimes.com/markets/stocks/news/adani-ports-tanks-over-8-agri-unit-buyout-appears-expensive-says-citi/articleshow/68162000.cms" data-type="tilCustomLink" target="_blank">reported</a>. As in any investigation, the question to ask is who benefits the most from a questionable move. SEE ALSO: <a href="https://www.businessinsider.in/anil-ambani-rcomm-vs-ericsson-case-supreme-court-dismisses-two-courtmasters/articleshow/67988175.cms" data-type="tilCustomLink" target="_blank">India's Supreme Court two staff members for trying to protect Anil Ambani from personal appearance</a> <a href="https://www.businessinsider.in/supreme-court-holds-anil-ambani-companies-guilty-of-contempt/articleshow/68074443.cms" data-type="tilCustomLink" target="_blank">Supreme Court holds Anil Ambani companies guilty of contempt</a> <a href="https://www.businessinsider.in/amazon-walmart-owned-flipkart-set-back-by-new-e-commerce-rules-that-help-mukesh-ambanis-reliance-retail/articleshow/67751026.cms" data-type="tilCustomLink" target="_blank">Mukesh Ambani may be the surprise winner from India's new rules hurting Amazon and Walmart</a>

S&P warns Adani Ports of a downgrade two days after a deal investors fear may be shady

New Delhi, Jan 31 () FMCG major ITC on Friday reported a 29.03 per cent increase in consolidated net profit at Rs 4,047.87 crore for the third quarter ended December 2019.
 The company had posted a net profit of Rs 3,136.95 crore in October-December quarter of the previous fiscal.
 Net sales during the quarter under review rose 5.71 per cent to Rs 13,220.30 crore as against Rs 12,506.05 crore in the corresponding period in previous fiscal, ITC said in a regulatory filing.
 "The company posted a steady performance during the quarter amidst a particularly challenging operating environment," ITC said in a post earning statement.
 According to the company, the macro-economic environment continues to be adversely impacted as reflected in deceleration in GDP growth and persistent weakness in consumption demand and investments.
 "Delayed arrival of the Kharif crop due to spatial variations in rainfall, especially close to the harvest season, commodity price inflation together with disruptions in certain parts of the country exacerbated the already challenging operating environment during the quarter," ITC said.
 "Expectations of a good Rabi crop and a slew of measures announced by the government in recent months including reduction in corporate tax rates, initiatives to boost infrastructure and promote exports, augur well for the revival of the economy," it added.
 ITC's total expenses during the third quarter rose 5.25 per cent to Rs 8,779.14 crore as compared with Rs 8,340.61 crore in the year-ago quarter.
 During the quarter, revenue from total FMCG business was up 4.66 per cent to Rs 9,265.31 crore as against Rs 8,852.05 crore in the year-ago period. 
 Total FMCG business comprises segments like cigarettes and FMCG-others.
 Revenue from cigarettes stood at Rs 5,944.86 crore in the October-December quarter, up 5.31 per cent from Rs 5,645.05 crore in the corresponding period last fiscal.
 "Performance during the quarter reflects the persistent weakness in the overall demand environment, especially in rural markets and wholesale channel, tight market liquidity conditions and the increasing salience of illicit trade especially at the premium end," ITC said.
 Revenue from FMCG-others segment was up 3.53 per cent to Rs 3,320.45 crore as against Rs 3,207 crore a year ago.
 "The FMCG-Others Segment delivered a resilient performance during the quarter which witnessed a slowdown in overall growth rates both in urban and rural markets. Categories with relatively higher rural salience remain the most impacted," it said.
 FMCG-others segment of ITC consists of branded packaged foods like staples, snacks, meals, dairy and beverages, confections, apparel, education and stationery products, personal care products, safety matches and incense sticks.
 ITC's hotel business revenue rose 21.13 per cent to Rs 574.26 crore during the quarter as compared with Rs 474.06 crore in the corresponding period last fiscal.
 "The business posted a strong performance during the quarter with segment revenue and segment EBITDA growing by 22.2 per cent and 40.1 per cent respectively. There was all-round improvement, with both existing and new properties recording robust increase in RevPAR (revenue per available room) and F&amp;B sales. Higher room rates and operating leverage aided margin expansion," ITC said.
 Revenue from agri-business segment rose 10.43 per cent to Rs 2,258.87 crore as against Rs 2,045.38 crore in the December quarter of the previous fiscal.
 "In the agri business segment, growth in segment revenue was driven by trading opportunities in oilseeds, pulses &amp; coffee and scaling up of value added segments (spices and frozen snacks)," ITC said.
 Subdued demand for leaf tobacco in international markets accentuated by relatively steeper depreciation in currencies of competing origins and adverse business mix weighed on segment results, it added.
 Paperboards, paper and packaging segment revenue rose marginally by 0.83 per cent to Rs 1,555.36 crore as against Rs 1,542.51 crore of Q3/FY2018-19
 "Paperboards, paper &amp; packaging segment revenue witnessed muted growth on a relatively firm base due to slowdown in the FMCG and liquor industry and depressed realisations on softening of global pulp prices," the company said.
 Revenue from others segment, which includes information technology services, branded residences, among others, reported a 9.99 per cent growth at Rs 563.69 crore as against Rs 512.48 crore.
 In a separate filing, ITC said its board has appointed Atul Jerath as Additional Non-Executive Director of the company.
 Jerath is the Chief Underwriting Officer of The Oriental Insurance Company Ltd, overseeing a wide portfolio including property, health and aviation insurance, it added.
 Shares of ITC on Friday closed 0.60 per cent higher at Rs 235.25 apiece on the BSE. KRH RVK

ITC Q3 net profit up 29 pc at Rs 4,047.87 crore

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> and the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> remain in a narrow, sideways trading band on Tuesday as traders await more earnings to set the short-term in stock prices. Here is a snapshot of the cash markets on the exchanges in mid-afternoon trade. 
 
BENCHMARK INDICES 
Nifty fell 28 points to 8,116 points 
Sensex lost 101 points to 26,803 points 
 
BROADER INDICES 
CNX 100 fell 0.4% to 8,223 points 
CNX Mid Cap lost 0.2% to 13,213 points 
 
SECTORAL INDICES CNX <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword> Index rose 0.2% to 20,391 points 
CNX Realty jumped 1.2% to 184 points 
CNX IT fell 1.2% to 11,491 points 
CNX Metals down 1.3% at 1,845 points 
CNX Energy lost 0.5% at 7,930 points 
 
TOP NIFTY GAINERS 
UltraTech Cement <keyword id="44555" type="CITY" weightage="100" keywordseo="BPCL">BPCL</keyword> <keyword id="6359783" type="CITY" weightage="100" keywordseo="Bajaj-Auto">Bajaj Auto</keyword> 
 
TOP NIFTY LOSERS 
Hindalco 
ONGC 
Vedanta 
 
TOP TRADED ON NIFTY 
Infosys 
TCS <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> 
 
TOP VOLUME BUZZERS 
Ambika Cotton Mills <keyword id="6358200" type="CITY" weightage="100" keywordseo="Jet-Airways">Jet Airways</keyword> 
D B Corp 
 
52 WEEK HIGHS 
Atul Ltd 
Kwality Dairy 
Himatsingka Seide 
 
ADVANCE-DECLINE RATIO 
NIFTY: 20/30 
SENSEX: 11/19 
FUTURES: 76/89 
 
(Image credits: Indiatimes)

Here's the simplest explanation to what's happening at the markets today

<keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> arrived here today on a six-day visit during which he will meet Japanese Prime Minister <keyword id="590894" type="PERSON" weightage="100" keywordseo="Shinzo-Abe">Shinzo Abe</keyword> as well as several key investors to sell the India growth story. During his visit, he will meet <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> CEO <keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword> to discuss investment opportunities India presents to the Japanese telecom giant. SoftBank has already made a string of tech investments in India and has announced plans for raising it to USD 10 billion over the next decade. Jaitley will also meet Osamu <keyword id="6911" type="CITY" weightage="20" keywordseo="suzuki">Suzuki</keyword>, Chairman of <keyword id="111052" type="CITY" weightage="20" keywordseo="Suzuki-Motor">Suzuki Motor</keyword>, the biggest Japanese investor in automobile sector in India. 

	Meeting with Abe is planned for tomorrow when he will also attend the 22nd International Conference on 'The Future of Asia' organised by Nikkei Inc. 
 

	On May 31, he would participate in 'The Future of Asia' conference and in the afternoon he will deliver keynote address at the roundtable on National Investment &amp; Infrastructure Fund (NIIF). 
 

	The government is looking at attracting investors to the Rs 40,000-crore NIIF, which is an investment vehicle for funding commercially viable greenfield, brown-field and stalled projects. It will have 49 per cent holding in NIIF and the rest will be of private investors. 
 

	In the evening Jaitley will have meetings with Government Pension Investment Fund (GPIF) President Norihiro Takahashi and Japan Overseas Infrastructure Investment Cooperation for Transport and Urban Development (JOIN) .. 
 

	He will also meet CEOs at a meeting organised by the Japan-India Business Cooperation Committee next day and address the Institute For International Economic Studies (IIES) Symposium on Indian economy. 
 

	Besides, meetings with Japan International Cooperation Agency (JICA) President Shinichi Kitaoka and Hitachi Chairamn Hiroaki Nakanishi are also planned. 
 

	Jaitley will leave for Osaka on June 1 evening and the next day deliver a Lecture on 'India: Political, Social and Economic Change' at Osaka University. 
 

	Later in the evening, the minister will participate and address the Make in India Investment Promotion Seminar and meet select Japanese CEOs and CII delegation. 
 

	The CII CEO delegation includes senior industry leaders like Naushad Forbes, President, CII and Co-Chairman, Forbes Marshall Pvt Ltd, Punj Llyod Chairman Atul Punj, Bharat Forge executive director Amit B Kalyani, DCM Chairman and Managing Director Ajay S Shriram and Wipro's Japan head Naohide Takatani. 
 

	On June 3, Jaitley will return to Tokyo for more meetings including with officials of Sumitomo Mitsui Banking Corp and Eastspring Investments.

Arun Jaitley arrives in Japan; to meet PM Shinzo Abe, industry leaders

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> snapped a 2-day losing streak on Wednesday as traders latched on to the relative safety of defensive pharma and software stocks and pressed sales on banking shares. 

	The Nifty added 28 points, or 0.3 percent, close at 8,495 after recovering from an intra-day low of 8,420 points. The Advance-Decline Ratio stood at 27/23 with pharma stocks ruling the roost. Sun Pharma, ACC, Lupin, Wipro and Cipla were the top five gainers on the Index while Hindalco, State Bank of India, Coal India, Bank of Baroda and Punjab National Bank lost ground. Tata Elxsi was the top traded counter on the second day on the NSE with 829 crore rupees worth of shares traded.
 

	Sun Pharma and State Bank of India were also in major demand on the NSE. Non-Index pharma stocks were major gainers as well. Cadila Health, IPCA, Aurobindo Pharma and Natco pharma showed smart gains.
 

	Bulls managed to pull off modest gains in the broader markets. Major indices such as CNX 100, CNX 200, CNX 500, CNX Junior Nifty and CNX Mid Cap Index closed with gains of 0.2-0.3 percent on Wednesday. 
 The <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> fell 77 points to 18,703 as traders pressed the Sell button on PSU banking stocks after a strong 3-day rally. Therefore, the CNX PSU Bank Index fell 2.7 percent, snapping a 2-day advance. The trend in other sectorial indices was mixed. The CNX Pharma, CNX Media, CNX Auto, CNX FMCG and CNX IT Indexes posted gains of between 0.2-2.7 percent. On the Bombay Stock Exchange, the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> added 100 points, or 0.4 percent, to 27,931 points. Lupin, Sun Pharma, Hero Motors, Bajaj Auto and Infosys were the top gainers on the Index, while Coal India, Axis Bank and NTPC lost in trade on the Sensex where the Advance-Decline Ratio stood at 19/11 and Sun Pharma was the top traded counter with 35 crore rupees worth of shares changing hands. 

	The Bulls were marginally ahead of the bears in the wider market. Today 1,488 stocks gained ground versus 1,389 that fell below Tuesday's closing prices.
 But the Bears were on top in the futures and options space even as <keyword id="109714" type="COMPANY" weightage="100" keywordseo="Nifty-futures">Nifty Futures</keyword> adding 27 points at 8,508. JP Associates, JP Power, Divi's Labs were top gainers while Amtek Auto, Kaveri Seed, IB Real Estate lost ground. Among sectors, Auto, Banking, Finance futures fell while Cement, Pharma and Technology sectors rose in trade. The Advance-Decline Ratio was at 72/89 in the futures and Options market. 

	3M, Ahluwalia Contracts, Amara Raja, Dishman and Divi's Labs hit fresh highs on the NSE. Rupa &amp; Co, Atul Ltd., Future Retail, Everonn and Geometric Ltd. made it to the top volume buzzers list.

	 
	 
	(Image credits: Indiatimes)

Know how Nifty snapped a 2-day losing streak today

<a href="http://www.businessinsider.in/searchresult.cms?query=Indian+stocks">Indian stocks</a> fell for the fifth day in a row on Friday as quarterly earnings from Larsen &amp; Toubro and ITC disappointed analysts even as traders found value in beaten down private lenders ICICI, Kotak and Yes Bank. 
 
The Nifty, which traded in positive territory for the first half-hour, dropped 46 points to close at 8,065 points, bringing this week's losses to 3 percent. Mahindra &amp; Mahindra, ITC, Larsen &amp; Toubro, Vedanta and Bosch were the top losers on the index while private banks Kotak, ICICI, Yes and NTPC and Dr. Reddy's made it to the top five winning slots on the index. The Nifty's <a href="http://www.businessinsider.in/searchresult.cms?query=Advance-Decline+Ratio">Advance-Decline Ratio</a> stood at 16/34 and Larsen, Axis and ICICI Bank were the three top traded counters on the benchmark. NTPC, post a stellar set of quarterly earnings, was the top gainer on the Nifty. 
 
Suzlon, Unitech and JP Associates were the most traded stocks on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a>. 
 
Broader markets suffered losses. Major benchmarks -- the CNX 100, CNX 200 and CNX 500 -- dropped 0.5 percent each. The Small Cap index shed 1.2 percent even as modest gains were seen on the Bank Nifty and the Finance sector benchmarks. ITC's disappointing results were reflected on the 2.5 percent plunge on the FMCG Index. The Auto and the Media space, too, came under selling pressure. 
 
Sentiment slipped on the <a href="http://www.businessinsider.in/searchresult.cms?query=Bombay+Stock+Exchange">Bombay Stock Exchange</a> too with the Sensex dropping 181 points, or 0.7 percent, to 26,657 points. 
 
The broader market was also on a weak footing with just 998 shares rising compared with 1,614 that fell. 
 
Trade was tentative on the derivatives space on the first day of the new monthly expiry. The Power sector was the lone gainer while futures in the capital goods space took in heavy selling. Strong gains were witnessed on Bharat Forge, Glenmark and Sun TV Futures. Hindalco, Lupin and TCS were among gainers while BHEL, GAIL, Coal India and HDFC dropped in trade. 
 
GIC Housing Finance, Atul Ltd and MRPL were on the top volume buzzers list and LT Foods, IDBI Bank and Gayatri Projects hit fresh highs on the exchange. 
 
Image credit: Indiatimes

Here's how the week ended at the Markets today

<keyword id="3205550" type="UNKNOWN" weightage="100" keywordseo="LeEco">LeEco</keyword>’s first Made for India phone, the Le 1s (Eco), has made waves in the industry by launching a device at remarkably attractive price of Rs. 9999. The global internet and technology conglomerate announced its <keyword id="3349224" type="UNKNOWN" weightage="100" keywordseo="Blockbuster-Superphone">Blockbuster Superphone</keyword> yesterday at a grand launch event in Mumbai, showcasing its unique content integration model and features LeVidi and Live that will give users access to a plethora of entertainment content anytime anywhere! 
 
The Blockbuster Superphone is a power-packed performer and the first device to showcase the integrated content one-stop experience coupled with breakthrough technology. The Le 1s Eco is the first “Made for India” Superphone by the company, showcasing its unique ecosystem and first of its kind in the Sub-10,000 category packed with powerful features. Bringing alive company’s content integration with partners Eros Now, Yupp TV and Hungama, Le1s Eco packs seamless interface through unique functions -Le Vidi and Live, which allows users to consume high quality content to user on-the-go! 
 
“We are extremely overwhelmed with the response that we have received for our blockbuster Superphone – Le 1s Eco. We were confident that our “Made for India” Superphone will strike an instant chord with our Indian customers, given its great features coupled with the best-in-class content library. We understand that entertainment plays a critical role in the lives of people and therefore remain committed to bringing blockbuster content to them wherever they want, whenever they want. At LeEco, it is our constant endeavour to offer users breakthrough technology and innovative features such as our content integration at a sustainable price, ensuring users get a true value product”, said Mr. Atul Jain, COO, Le Ecosystem Technology India Pvt. Ltd. 
 
Equipped with a 5.5” inch (403 ppi) screen of 1080x1920 resolution display, the device delivers an ideal balance of performance, battery life and graphics to users. With slick dimensions, the device is easy to hold and light to carry. It runs on the latest Android 5.0 eUI and packs a powerful Helio X10 MediaTek Processor, 1.8 GHz with a 3 GB of RAM, enabling uninterrupted video streaming; offering powerful multitasking and a rich multi-media experience. The 13 MP rear camera and 5 MP front camera ensure quality pictures and great video capability. The device also sports a powerful 3000 mAh lithium polymer battery for on the go usage. Designed for both work and entertainment, the device is the optimal device for viewing videos, playing enhanced games, and reading e-books anytime, anywhere. 
 
Supertainment package which is otherwise also priced at Rs 10,899, including Le 1s Eco for Rs 9,999 and a one-year membership fee of Rs 4,900, and a LeEco offer of Rs 4,000 is undoubtedly a killer deal any smartphone brand could have offered to its consumers. As a part of this blockbuster deal, not only the consumers get the Superphone with features like no other but also the wide range of entertainment content anytime anywhere. 
 
The LeEco advantage for consumers with the company’s best- in- class after-sales set up is unparalleled. The company has already announced 555 service centres across prominent locations pan-India and 24*7 toll-free call centre support. 
 
LeEco entered the India market with the launch of its Superphones in early 2016 - the Le 1s and the Le Max. The devices which are exclusively available on Flipkart, have truly disrupted the market with their best in class specifications at democratized pricing. 
 
About LeEco: 
 
LeEco, formerly known as Letv, is a global pioneering internet and technology company with multiple internet ecosystems across content, devices, applications and platforms. Founded in November 2004 by Jia Yueting and Liu Hong, LeEco employs more than 10,000 people and is the world’s first video company to go public with a market capitalization of more than $12 billion USD. Headquartered in Beijing, China, it has regional headquarters in Hong Kong, Los Angeles and Silicon Valley. 
 
With “Complete Ecosystem, Groundbreaking technologies, and Disruptive Pricing” as the guiding principle, LeEco is engaged in a myriad of businesses, spanning from Internet-based Super TV and Superphones, video production and distribution, smart devices/accessories and large-screen applications, to e-commerce and even connected super-electric cars. The company also features one of the world's largest content libraries, comprising of movies, TV dramas, entertainment shows, sports and music, which can be conveniently viewed on LeEco products, including the Superphones, Super TVs, and in the near future, Le Autos. Breaking the barriers of industries, LeEco provides personalized products and services for an enhanced user experience at disruptive prices.

You Searched For "Atul Ltd" and got 7 results

S&P warns Adani Ports of a downgrade two days after a deal investors fear may be shady

Sriram Iyer

ITC Q3 net profit up 29 pc at Rs 4,047.87 crore

PTI

Here's the simplest explanation to what's happening at the markets today

Shailendra Bhatnagar

Arun Jaitley arrives in Japan; to meet PM Shinzo Abe, industry leaders

Know how Nifty snapped a 2-day losing streak today

Shailendra Bhatnagar

Here's how the week ended at the Markets today

Shailendra Bhatnagar

The Blockbuster Superphone will now be available for just Rs. 9999 as introductory offer

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