Tata Steel Shares Slump on Sharp Fall in Profit

first_imgShare of Tata Steel plunged on the bourses on Thursday after the company reported disappointing results for the March quarter.  The stock fell almost 5 percent on the Bombay Stock Exchange (BSE) and closed at ₹344.40.The country’s biggest steel maker reported net loss of ₹5,674 crore for the quarter ended March 2015 as against net profit of ₹1,036 crore for the quarter ended March 2014. The total income dropped 20.6 percent to ₹33,666 crore from ₹42,428 crore for the quarter ended March 2014. The company said that a steep fall in steel prices in the past few months due to a surge in cheap imports, particularly from China, Japan and Korea, led to a fall in revenues.An analyst said the trend of falling prices will persist in the near future, making things more difficult for Tata Steel.”We see further challenges ahead, as the company is yet to use 1.5 mt high cost iron ore and domestic prices fell further by ₹1000- 1500/ tonne. We have further reduced our estimates on standalone business factoring in drop in steel prices and higher iron ore costs,” Brokerage firm Emkay told Firstpost.The company’s earned a profit of ₹814 crore in March quarter from Indian market, down 59 percent from ₹1978.6 crore on year-on-year basis.”Our performance this year in India was impacted by surging imports, declining commodity prices, muted demand and regulatory uncertainties in our captive mining operations,” said Koushik Chatterjee, group executive director, Tata Steel.The results have forced many analysts to downgrade their outlook for the stock.Credit Suisse maintains a ‘underperfom’ rating for the stock with a target price of ₹210 per share, and notes that a “precipitous drop in Indian profitability is alarming”.Deutsche Bank has kept its ‘buy’ rating unchanged, but cut the target price to ₹400 per share.The bank expects improvement in profitability and volume trajectory in India operations in the second half of 2015-16, moneycontrol.com reported.last_img read more

HDFC Life gears up for IPO after scrapping merger with Max Report

first_imgThe Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai, India, January 25, 2017.ReutersHDFC Standard Life Insurance Company, a joint venture between mortgage lender HDFC and Standard Life Plc, UK, is firming up plans to list its shares on the stock exchanges after putting on hold acquisition of rival Max Life Insurance. The decision to go ahead with the listing plan was taken at HDFC Life’s board meeting on Monday, PTI reported, citing a regulatory filing to the Bombay Stock Exchange (BSE) by HDFC.Also read: SBI Life seeks capital markets regulator’s nod for IPO, says report”The IPO is subject to relevant regulatory and other necessary approvals, as applicable/ required, including that of the Insurance Regulatory and Development Authority of India (IRDA),” HDFC said.HDFC holds 61.3 percent in the venture while Standard Life has 35 percent stake. Max Life Insurance is a joint venture between listed entity Max Financial Services and Japan’s Mitsui Sumitomo Insurance Co. Ltd.Almost a year ago, in August 2016, the HDFC board had given its go-ahead for the merger of Max Life and Max Financial Services with HDFC Standard Life. But the plan hit a roadblock after regulator IRDA denied approval for the merger, citing the “complex nature” of merging insurance business with a financial company, prompting both parties to “evaluate various options,” PTI said.The original merger plan envisaged amalgamation of Max Life with Max Financial Services after which the insurance business was supposed to be hived off as a separate entity and transferred to HDFC Standard Life Insurance Company, according to the PTI report.HDFC shares were trading almost flat at Rs 1,661 apiece while Max Financial Services was down 2.5 percent to Rs 584 at around 11.03 am on the BSE.Max India Limited is part of the $2-billion Max Group that comprises Max Healthcare, Max Bupa Health Insurance and Max Financial Services Limited, according to its portal.last_img read more

Rick Perry For Homeland Security Secretary And Beyoncé Buying The Rockets The

first_imgA lot can happen in a week. Some of it good. Some of it bad. Some of it downright ugly. When faced with intriguing developments in the week’s news, we turn to our rotating panel of “non-experts” to parse The Good, The Bad and The Ugly of it all.This week, our panel weighs in on the possibility of Rick Perry becoming the next Secretary of Homeland Security, Lt. Governor Dan Patrick saying he wants better communication with the Texas House, and rumors that Houston’s own pop icon Beyoncé is interested in investing in the Houston Rockets. Our panel of non-experts this week includes:Freelance writer Kyrie O’ ConnorWayne Ashley, academic advisor, digital media strategist and editor of TexasLeftist.com Happy Houston Public Media retiree Paul Pendergraft Sharelast_img read more

ASCAP Distributes 1 Billion to Members for the First Time

first_imgASCAP President Paul Williams said: “I am gratified by the hard work that the ASCAP team does every day to make it possible for members of ASCAP to make their living as music creators. 2017 was a year of progress on so many fronts at ASCAP, including important deals that keep money flowing back to creators, technological investments that will keep us ahead of changes in the industry and momentum behind our efforts to reform our outdated music licensing system.” Popular on Variety ASCAP, The American Society of Composers, Authors and Publishers, today announced record-high revenues and distributions in 2017. The organization collected approximately $1.144 billion in revenues last year and distributed — for the first time — more than $1.007 billion to its 660,000 songwriter, composer and music publisher members. Total ASCAP revenues increased by 8 percent and distributions were up 10 percent year-over-year, according to the announcement.Revenues from ASCAP’s licensing efforts in the US alone grew nearly 11 percent in 2017 to $846 million, up $86.9 million over 2016.Domestic distributions from ASCAP-licensed and administered performances in the US also increased, to $723 million, up 15 percent over 2016.ASCAP Chief Executive Officer Elizabeth Matthews (pictured above) commented: “ASCAP is privileged to represent the creators of the world’s best-loved music. ASCAP is securing a strong future for our members by successfully closing key licensing deals and launching innovative digital tools that will enhance the lives of our members and make it easier for licensees to do business with us. Our healthy 2017 financial results are proof positive that we are succeeding in our strategic transformation and our mission to support music creators and music publishers for a sustainable future in the digital economy.”center_img ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15last_img read more

The arts eye view

first_imgAs June wraps up, here is something for the Delhi art lovers. Panorama-3, curated by Priyanka Banerjee, brings to you a group exhibition that identifies strong new talent and bringing great art to a wide audience. The platform provides artists from around the city to exhibit and showcase their work.Banerjee, an energetic art curator, recognises the efforts of emerging artists by promoting their creative talent. She identifies talented young artists and provides them a platform to showcase their creativity. To continue with the spirit of art-appreciation, she is all set to present her next exhibition that features more than thirty artists – the best and brightest in the city. Also Read – ‘Playing Jojo was emotionally exhausting’With a renewed impetus to excellence, this exhibition aims at sustaining the artistic aspirations of the city by offering a holistic cultural experience. Banerjee believes that just the way a panorama represents an entire worldview of a place, this exhibition is a world view of the thoughts of its many diverse yet like-minded artists. These artworks emote through vivid strokes – some are muted and some vibrant; together they create a surreal experience for art aficionados. Interestingly, it is the theme of spirituality that sets this event apart from others. Also Read – Leslie doing new comedy special with NetflixMridul Chakraborty, Uma Bardhan, Kashi Nath Bose, Ganesh Panda, Hamlet Shougrakpam, Nilay Sircar, Rajeev Semwal, Meghna Agarwal, Sahil Jain, Saru Sharma, Rohini Jain, Jaya Sharma, Harpal Singh, Lalit Mohan, Shalini Varshney, Amit Kumar, Abid Zaidi,  Sadaf Khan, Seema Kashyap, Shalini Goyal, Roshi Goyal, Aakanksha Bagga, Tarini Ahuja, Tatini Sengupta, Viniitii Vasundhara Aggarwal, Alpana Kataria, Jasmeet Khurana, Shipra Gupta, Darshan Sharma, Ekta Gandhi, Mahender Rai are some of the participants among others. Chakraborty has tried to depict speed in the lives of human beings. Jain’s paintings portray pigeons both symbolically and in abstract forms. Bardhan is fascinated by figurative paintings and observes his subjects for weeks, months and even years before bringing them alive on canvas. Meghna Agarwal uses a variety of mediums to express ideas like power and permanence through her works. Saru Sharma talks about the human desire to attain joy through her works and attempts to highlight the relation between our daily actions and attainment of pleasure through them.While each artist brings the best to the canvas, the real reason we want you to attend this exhibition is that it is one of its kind event that is funded by the artists entirely on their own. All this for the pure love of art.last_img read more

Interactive art

first_imgOrganised by Think Arts, the 26-day event will take children on a sensorial journey through an interactive art and theatre exhibition.NM Director-General Sanjiv Mittal said, “The exhibition aims to supply back the luxury that Indians a generation ago enjoyed in their younger days. We have scheduled it with the summer vacations for schools upcountry.”Ruchira Das, founder of Think Arts, says, “Elements would enable the participant children to a world of wonder — in all of its senses.” Also Read – ‘Playing Jojo was emotionally exhausting’ “We had the outdoors to play in. We touch, smell, feel, hear, use all of our senses as we explore. These experiences fuel our imagination and heightened our sense of perception,” she added.“At Elements, every action of the child changes the experience for those who follow, creating an ever-evolving space”, reveals Das, who has conceptualised the show.The show will have a room of cupboards and drawers featuring a drawer of tastes, smell, sounds, miniatures among others. “The only way to get to the next room (labyrinth) is by entering a cupboard. The labyrinth has a jigsaw puzzle inspired by a miniature from the gallery at the National Museum,”added Das. Also Read – Leslie doing new comedy special with NetflixThere is also an art room that invites children to engage in building a sculpture using cardboard boxes, scraps of cloth, paper and found objects. With every interaction, the sculpture takes a new form.Another feature is the textured path, along which the children walk on sand, pebbles, foam and sawdust among others. There is also a music room which has easy-to-play instruments that will help the child explore the sounds of different musical sounds made from elements like seeds, metal, wood and bamboo. Many of these instruments are inspired from those in the music gallery at the National Museum.“The team behind Elements comprises several artistes and organisations who basically believe that children are “thinking, feeling beings who are capable of as much, if not more depth, and understanding as an adult”, says Anurupa Roy, from Katkatha Puppet Arts Trust. She along with Shravan Heggudu and S Raghuvendra, are the designers of the exhibition and co-creators of the artworks.The team also includes professional musician Rajat Mallick and Prarthana Hazra, a recent post-graduate from Kala Bhavan, Santiniketan.When: June 10 – July 5Where: National Museumlast_img read more

Building RESTful web services with Kotlin

first_imgKotlin has been eating up the Java world. It has already become a hit in the Android Ecosystem which was dominated by Java and is welcomed with open arms. Kotlin is not limited to Android development and can be used to develop server-side and client-side web applications as well. Kotlin is 100% compatible with the JVM so you can use any existing frameworks such as Spring Boot, Vert.x, or JSF for writing Java applications. In this tutorial, we will learn how to implement RESTful web services using Kotlin. This article is an excerpt from the book ‘Kotlin Programming Cookbook’, written by, Aanand Shekhar Roy and Rashi Karanpuria. Setting up dependencies for building RESTful services In this recipe, we will lay the foundation for developing the RESTful service. We will see how to set up dependencies and run our first SpringBoot web application. SpringBoot provides great support for Kotlin, which makes it easy to work with Kotlin. So let’s get started. We will be using IntelliJ IDEA and Gradle build system. If you don’t have that, you can get it from https://www.jetbrains.com/idea/. How to do it… Let’s follow the given steps to set up the dependencies for building RESTful services: First, we will create a new project in IntelliJ IDE. We will be using the Gradle build system for maintaining dependency, so create a Gradle project: When you have created the project, just add the following lines to your build.gradle file. These lines of code contain spring-boot dependencies that we will need to develop the web app: buildscript { ext.kotlin_version = ‘1.1.60’ // Required for Kotlin integration ext.spring_boot_version = ‘1.5.4.RELEASE’ repositories { jcenter() } dependencies { classpath “org.jetbrains.kotlin:kotlin-gradle-plugin:$kotlin_version” // Required for Kotlin integration classpath “org.jetbrains.kotlin:kotlin-allopen:$kotlin_version” // See https://kotlinlang.org/docs/reference/compiler-plugins.html#kotlin-spring-compiler-plugin classpath “org.springframework.boot:spring-boot-gradle-plugin:$spring_boot_version” }} apply plugin: ‘kotlin’ // Required for Kotlin integrationapply plugin: “kotlin-spring” // See https://kotlinlang.org/docs/reference/compiler-plugins.html#kotlin-spring-compiler-pluginapply plugin: ‘org.springframework.boot’jar {baseName = ‘gs-rest-service’version = ‘0.1.0’}sourceSets {main.java.srcDirs += ‘src/main/kotlin’}repositories {jcenter()}dependencies {compile “org.jetbrains.kotlin:kotlin-stdlib:$kotlin_version” // Required for Kotlin integrationcompile ‘org.springframework.boot:spring-boot-starter-web’testCompile(‘org.springframework.boot:spring-boot-starter-test’)} Let’s now create an App.kt file in the following directory hierarchy: It is important to keep the App.kt file in a package (we’ve used the college package). Otherwise, you will get an error that says the following: ** WARNING ** : Your ApplicationContext is unlikely to start due to a `@ComponentScan` of the default package. The reason for this error is that if you don’t include a package declaration, it considers it a “default package,” which is discouraged and avoided. Now, let’s try to run the App.kt class. We will put the following code to test if it’s running: @SpringBootApplicationopen class App {}fun main(args: Array) {SpringApplication.run(App::class.java, *args)} Now run the project; if everything goes well, you will see output with the following line at the end: Started AppKt in 5.875 seconds (JVM running for 6.445) We now have our application running on our embedded Tomcat server. If you go to http://localhost:8080, you will see an error as follows: The preceding error is 404 error and the reason for that is we haven’t told our application to do anything when a user is on the / path. Creating a REST controller In the previous recipe, we learned how to set up dependencies for creating RESTful services. Finally, we launched our backend on the http://localhost:8080 endpoint but got 404 error as our application wasn’t configured to handle requests at that path (/). We will start from that point and learn how to create a REST controller. Let’s get started! We will be using IntelliJ IDE for coding purposes. For setting up of the environment, refer to the previous recipe. You can also find the source in the repository at https://gitlab.com/aanandshekharroy/kotlin-webservices. How to do it… In this recipe, we will create a REST controller that will fetch us information about students in a college. We will be using an in-memory database using a list to keep things simple: Let’s first create a Student class having a name and roll number properties: package collegeclass Student() {lateinit var roll_number: Stringlateinit var name: Stringconstructor(roll_number: String,name: String): this() {this.roll_number = roll_numberthis.name = name}} Next, we will create the StudentDatabase endpoint, which will act as a database for the application: @Componentclass StudentDatabase { private val students = mutableListOf()} Note that we have annotated the StudentDatabase class with @Component, which means its lifecycle will be controlled by Spring (because we want it to act as a database for our application). We also need a @PostConstruct annotation, because it’s an in-memory database that is destroyed when the application closes. So we would like to have a filled database whenever the application launches. So we will create an init method, which will add a few items into the “database” at startup time: @PostConstructprivate fun init() { students.add(Student(“2013001″,”Aanand Shekhar Roy”)) students.add(Student(“2013165″,”Rashi Karanpuria”))} Now, we will create a few other methods that will help us deal with our database: getStudent: Gets the list of students present in our database: fun getStudents()=students addStudent: This method will add a student to our database: fun addStudent(student: Student): Boolean { students.add(student) return true} Now let’s put this database to use. We will be creating a REST controller that will handle the request. We will create a StudentController and annotate it with @RestController. Using @RestController is simple, and it’s the preferred method for creating MVC RESTful web services. Once created, we need to provide our database using Spring dependency injection, for which we will need the @Autowired annotation. Here’s how our StudentController looks: @RestControllerclass StudentController { @Autowired private lateinit var database: StudentDatabase} Now we will set our response to the / path. We will show the list of students in our database. For that, we will simply create a method that lists out students. We will need to annotate it with @RequestMapping and provide parameters such as path and request method (GET, POST, and such): @RequestMapping(“”, method = arrayOf(RequestMethod.GET))fun students() = database.getStudents() This is what our controller looks like now. It is a simple REST controller: package collegeimport org.springframework.beans.factory.annotation.Autowiredimport org.springframework.web.bind.annotation.RequestMappingimport org.springframework.web.bind.annotation.RequestMethodimport org.springframework.web.bind.annotation.RestController@RestControllerclass StudentController {@Autowiredprivate lateinit var database: StudentDatabase@RequestMapping(“”, method = arrayOf(RequestMethod.GET))fun students() = database.getStudents()} Now when you restart the server and go to http://localhost:8080, we will see the response as follows: As you can see, Spring is intelligent enough to provide the response in the JSON format, which makes it easy to design APIs. Now let’s try to create another endpoint that will fetch a student’s details from a roll number: @GetMapping(“/student/{roll_number}”)fun studentWithRollNumber( @PathVariable(“roll_number”) roll_number:String) = database.getStudentWithRollNumber(roll_number) Now, if you try the http://localhost:8080/student/2013001 endpoint, you will see the given output: {“roll_number”:”2013001″,”name”:”Aanand Shekhar Roy”} Next, we will try to add a student to the database. We will be doing it via the POST method: @RequestMapping(“/add”, method = arrayOf(RequestMethod.POST))fun addStudent(@RequestBody student: Student) = if (database.addStudent(student)) student else throw Exception(“Something went wrong”) There’s more… So far, our server has been dependent on IDE. We would definitely want to make it independent of an IDE. Thanks to Gradle, it is very easy to create a runnable JAR just with the following: ./gradlew clean bootRepackage The preceding command is platform independent and uses the Gradle build system to build the application. Now, you just need to type the mentioned command to run it: java -jar build/libs/gs-rest-service-0.1.0.jar You can then see the following output as before: Started AppKt in 4.858 seconds (JVM running for 5.548) This means your server is running successfully. Creating the Application class for Spring Boot The SpringApplication class is used to bootstrap our application. We’ve used it in the previous recipes; we will see how to create the Application class for Spring Boot in this recipe. We will be using IntelliJ IDE for coding purposes. To set up the environment, read previous recipes, especially the Setting up dependencies for building RESTful services recipe. How to do it… If you’ve used Spring Boot before, you must be familiar with using @Configuration, @EnableAutoConfiguration, and @ComponentScan in your main class. These were used so frequently that Spring Boot provides a convenient @SpringBootApplication alternative. The Spring Boot looks for the public static main method, and we will use a top-level function outside the Application class. If you noted, while setting up the dependencies, we used the kotlin-spring plugin, hence we don’t need to make the Application class open. Here’s an example of the Spring Boot application: package collegeimport org.springframework.boot.SpringApplicationimport org.springframework.boot.autoconfigure.SpringBootApplication@SpringBootApplicationclass Applicationfun main(args: Array) {SpringApplication.run(Application::class.java, *args)} The Spring Boot application executes the static run() method, which takes two parameters and starts a autoconfigured Tomcat web server when Spring application is started. When everything is set, you can start the application by executing the following command: ./gradlew bootRun If everything goes well, you will see the following output in the console: This is along with the last message—Started AppKt in xxx seconds. This means that your application is up and running. In order to run it as an independent server, you need to create a JAR and then you can execute as follows: ./gradlew clean bootRepackage Now, to run it, you just need to type the following command: java -jar build/libs/gs-rest-service-0.1.0.jar We learned how to set up dependencies for building RESTful services, creating a REST controller, and creating the application class for Spring boot. If you are interested in learning more about Kotlin then be sure to check out the ‘Kotlin Programming Cookbook’. Read Next: Build your first Android app with Kotlin 5 reasons to choose Kotlin over Java Getting started with Kotlin programming Forget C and Java. Learn Kotlin: the next universal programming languagelast_img