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

Oikya Front not barred from holding its rally

first_imgBangladesh Awami League general secretary Obaidul Quader. File PhotoRuling Awami League general secretary Obaidul Quader on Friday said the permission to the Oikya Front for holding its planned rally in Sylhet has been put on hold on security grounds, reports UNB.”Oikya Front has not been barred from holding its rally,” said Quader while answering queries from newsmen after visiting the Dhaka-Tangail Highway at Chandra.He observed the newly forged Jatiya Oikya Front has made a mistake at the beginning of its journey by complaining to foreigners without reaching out to people.Quader’s comments came a day after Jatiya Oikya Front briefed foreign diplomats stationed in Dhaka on their demands, goals and position on the next general election.Diplomats from around 25 countries, including the USA, the UK, the EU, Canada, India, Pakistan, China, Japan, France, Germany, Switzerland, Denmark, Greece, Turkey, Vietnam and Norway joined the briefing at a city hotel on Thursday.Mentioning that an election mood is prevailing in the country and people want to cast their votes in a festive manner, Quader, also road transport and bridges minister, said, “Those who are trying to take the election-bound people to a movement are living in a fool’s paradise.”Quader said 90 per cent work on the Chandra flyover has been completed and it will be opened to traffic within the next two months.On 13 October, BNP together with Kamal Hossain-led Jatiya Oikya Prokriya, JSD and Nagorik Oikya launched the Jatiya Oikya Front to press for their seven-point demand, including holding the next polls under a non-party administration.last_img read more

Myanmar harvests abandoned Rohingya fields

first_imgRohingya refugees cross a bamboo bridge as they arrive at a port after crossing from Myanmar, in Teknaf, Bangladesh, 25 October, 2017.Myanmar’s government began harvesting rice from farmland abandoned by Rohingya in northern Rakhine on Saturday, officials said, a move likely to raise concerns about the prospect of return for more than half a million refugees who have fled communal violence in the area.The border region has been emptied of most of its Muslim residents since late August, when Myanmar’s military launched a crackdown on Rohingya rebels that the UN has described as “textbook” ethnic cleansing.Hundreds of villages have been burned to the ground, with more than 600,000 Rohingya — a stateless group in mainly Buddhist Myanmar — fleeing across the border for sanctuary in Bangladesh.Under intense global pressure, Myanmar has agreed to repatriate “scrutinised” refugees who can prove their residence in Rakhine.But details of the plan remain sketchy, seeding concern about who will be allowed back, what they will return to and how they will live in a region where anti-Rohingya hatred remains sky-high.On Saturday the government began harvesting 71,000 acres of rice paddy in Maungdaw — the Rohingya-majority area hit hardest by the violence — according to state media and a local official.”We started harvesting today in Myo Thu Gyi village tract,” Thein Wai, the head of Maungdaw’s Agricultural Department, told AFP.”We are going to harvest some paddy fields of Bengalis who fled to Bangladesh,” he said, using a pejorative term for the Rohingya commonly used by officials and the Buddhist public.The official said he did not know what government would do with the rice or its proceeds.Workers were bused in from other parts of the country to assist with the harvest, according to the state-run Global New Light of Myanmar.- ‘Deeply disturbed’ -Rights groups blasted the government’s harvest as part of a systematic effort to expunge the Rohingya from Rakhine.”Government officials leading the harvest are clearly more concerned about these fields of abandoned rice than they ever were about the Rohingya people who sowed it,” said Human Rights Watch’s Phil Robertson.”This all reinforces a singular, local level Rakhine message to the Rohingya refugees in Bangladesh that what’s yours is now mine, and you’re not welcome back.”Fortify Rights said the harvest was an “outrageous” move by authorities who have a long history of land grabs, particularly in ethnic minority frontiers.Myanmar has denied charges of ethnic cleansing and defended its military campaign as a counter offensive targeting Rohingya militants who attacked police posts in late August, killing at least a dozen.But media, rights groups and the UN have documented consistent accounts from Rohingya refugees of atrocities at the hands of Myanmar security officers, who are accused of killing civilians, raping women and torching homes in the wake of the rebel raids.On Friday UN rights experts said they were “deeply disturbed” after speaking to refugees in Bangladesh.The accounts they heard “point to a consistent, methodical pattern of actions resulting in gross human rights violations affecting hundreds of thousands of people,” said Marzuki Darusman, who chairs the fact-finding mission.Myanmar’s civilian leader Aung San Suu Kyi — who has no control over the powerful army — recently created a committee to oversee resettlement in Rakhine, where tens of thousands of other minority groups were also internally displaced by the violence.The construction of homes for minorities such as the Mro has begun, according to state media, while Suu Kyi’s government has enticed business tycoons to donate to the rebuilding effort.But fear abounds that the rehabilitation will sideline the Rohingya — a group that has suffered under decades of state-backed discrimination and rising Islamophobia.Myanmar refuses to recognise the Rohingya as a distinct minority, rendering the 1.1-million strong group stateless.The army has spread the view that they are foreign “Bengalis” from Bangladesh, despite many having lived in Myanmar for generations.last_img read more

MIT group shows unseen motion captured in video

first_img © 2013 Phys.org More information: people.csail.mit.edu/mrub/papers/vidmag.pdfweb.mit.edu/newsoffice/2013/cs … visible-changes.html Citation: MIT group shows unseen motion captured in video (2013, March 1) retrieved 18 August 2019 from https://phys.org/news/2013-03-mit-group-unseen-motion-captured.html Explore further The process is called Eulerian Video Magnification. “Our method, which we call Eulerian Video Magnification, takes a standard video sequence as input, and applies spatial decomposition, followed by temporal filtering to the frames. The resulting signal is then amplified to reveal hidden information,” they wrote. They noted that their technique can run in realtime to show phenomena occurring at the temporal frequencies selected by the user.”We are inspired by the Eulerian perspective,” according to the scientists, “where properties of a voxel of fluid, such as pressure and velocity, evolve over time, in a spatially multiscale manner.” In their approach to motion magnification, they said they do not explicitly estimate motion but rather exaggerate motion by amplifying temporal color changes at fixed positions. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. (Phys.org) —A baby lies in the crib looking motionless, a typical situation causing worry to new parents, wondering if the baby is still breathing. A video run through an algorithm designed for amplification shows the baby is indeed breathing with movements that were invisible to the naked eye. It’s that special algorithm at the heart of interest in the work of a group of scientists at MIT who work on a project called motion magnification. They have said that “Our goal is to reveal temporal variations in videos that are difficult or impossible to see with the naked eye.” Their process breaks apart the visual elements of every frame of a video, reconstructed with an algorithm tool that can amplify aspects of the video. This is not the first time their advances have been publicized. The program was presented last year at the annual computer graphics conference, Siggraph. What is new is that the team has revamped the work and they posted code online for people interested in exploring such renderings of motion that otherwise would not be detected by the naked eye. “Our team is still actively working on this direction, so people can expect more to come,” said a team member. “We hope that it will motivate people to look deeper into this type of processing and different applications it can support.” Researchers amplify variations in video, making the invisible visible The team from MIT’s Computer Science and Artificial Intelligence Laboratory are working on the program to analyze videos to pick up movements. The program was first developed essentially to monitor neonatal babies. They believe their algorithm can be applied to other scenarios to reveal changes imperceptible to the naked eye as well, as in hospital monitoring of patients. You can see a person’s face flushing as the blood pumps from his heart. You can read a baby’s pulse. A spatial pattern of when the blood goes and where is seen; scientists could look to see where the blood flows on the body as well as on the face. “There is a big world of small motions out there,” said a team member. Overview of the Eulerian video magnification framework. Credit: Hao-Yu Wu et al.last_img read more