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SRF's Consolidated Net Profit Climbs in Fiscal Q4

SRF's (NSE:SRF, BOM:503806) consolidated net profit rose to 5.82 billion Indian rupees in the fiscal fourth quarter ended March 31, from 5.26 billion rupees a year ago.Earnings per share came in at 19.63 rupees from 17.75 rupees a year earlier, the chemicals manufacturer said in a filing to the Indian stock exchanges on Tuesday. The EPS was lower than the 20.74 rupees estimated by the analysts polled by Visible Alpha.Revenue from operations in fiscal Q4 increased to 46.2 billion rupees from 43.1 billion rupees a year ago.

BOM:503806NSE:SRF

Asia55d ago

Resolution Minerals Reports High Grade of Antimony Recoveries on Idaho Project Samples

Resolution Minerals (ASX:RML) reported high rates of antimony recoveries in sulfides during concentrate test work on samples from the Antimony Ridge project in Idaho, according to a Wednesday filing with the Australian bourse.The high sulfide recoveries were achieved from lower grade samples containing about 10% antimony, suggesting potential to capture stibnite, even if high-grade ore is diluted by surrounding waste during extraction, the filing said.Further concentration stages are underway in test work on samples from the project, per the filing.Shares fell nearly 2% in midday trade Wednesday.

ASX:RML

International55d ago

Beijing Tourism Revenue Up 7% During May Day Holiday

Beijing generated 22.4 billion yuan in tourism revenue during the five-day May Day holiday, a 6.6% year-on-year increase, according to the Beijing Municipal Bureau of Culture and Tourism.China's capital city received 18.8 million tourist visits, up 5.1%. Inbound visits rose 22.3% to 128,000, with spending reaching 1.38 billion yuan.Beijing hosted over 2,000 cultural activities, including 1,684 live performance sessions, generating 260 million yuan in box office revenue.

Shanghai Composite^SZSE

Asia55d ago

Korea Exchange Halts Kospi Trading for Five Minutes After Buying Surges on Iran Conflict De-escalation Hopes

The Korea Exchange activated a five-minute buy-side sidecar on the country's primary stock market on Wednesday morning as investors rushed to purchase securities on hopes that the U.S.-Iran conflict may end in the near future.The Korea Exchange announced the order at 9:06 am after the KOSPI200 Futures added 66.05 points, or 6.28%, to trade at 1,116.55.A buy-side sidecar is activated when the KOSPI200 Futures index gains 5% or more for at least one minute.

KOSPI

International55d ago

China Railway Holiday Trips Exceed 100 Million

China's railway network carried over 100 million passengers during the May Day holiday, according to China State Railway Group.As of May 4, trips reached 117 million over the holiday period, which ended Tuesday.A single-day record of 20.4 million passengers traveled on May 4.With return journeys surging, 23 million trips are expected Tuesday, supported by 2,225 additional services.Popular destinations include Beijing, Guangzhou, Shanghai, Chengdu and Shenzhen.

Shanghai Composite^SZSE

Asia55d ago

Pangrim to Retire KRW23.9 Billion Worth of Treasury Shares

Pangrim (KRX:003610) plans to retire about 4.09 million treasury shares, valued at 23.9 billion won, according to a Wednesday filing with the Korea Exchange.The shares will be retired on May 20 at a par value of 500 won apiece.Shares of the textile manufacturer fell more than 2% in recent trade.

KRX:003610

Asia55d ago

Great Eastern's Q1 Profit Steady as Sales Surge 16%

Great Eastern's (SGX:G07) profit attributable to shareholders remained relatively unchanged during the first quarter of the year from a year earlier, according to a Wednesday filing with the Singapore Exchange.The attributable profit came in at SG$346.3 million, versus SG$345.5 million in the year-ago period.Total weighted new sales surged 16% year over year to SG$401.9 million in the three months ended March 31, from SG$345.1 million, backed by sustained momentum from Singapore operations.

SGX:G07

Asia55d ago

Metallium Secures Contracts Covering Half of Stage One Throughput Target

Metallium (ASX:MTM) secured contracts covering 50% of its first-stage throughput target of 8,000 tonnes per year of printed circuit board feedstock for US operations, according to a Wednesday filing with the Australian bourse.The company is targeting a contracted base of roughly 70% of the first-stage target, while retaining about 30% exposure to spot market procurement, the filing said.Meanwhile, commissioning at the company's Texas Technology Campus is currently underway, per the filing.Metallium shares fell 1% in midday trade on Wednesday.

ASX:MTM

Asia55d ago

Celltrion to Retire KRW100 Billion Worth of Treasury Shares

South Korean biopharmaceutical company Celltrion (KRX:068270) plans to retire 488,983 treasury shares, valued at 100 billion won, according to a Wednesday filing with the Korea Exchange.The shares will be retired on May 21 at a par value of 1,000 won apiece.

KRX:068270

Asia55d ago

AP Oil International Buys Back Shares

AP Oil International (SGX:5AU) bought back 1,700 shares in the open market on Tuesday for SG$277 or SG$0.137 apiece, according to a Wednesday filing with the Singapore Exchange.The manufacturer and seller of lubricant oil has been authorized to buy back 16.5 million shares under its existing mandate.

SGX:5AU

Asia55d ago

Larsen & Toubro's Consolidated Net Profit Declines in Fiscal Q4

Larsen & Toubro's (NSE:LT, BOM:500510) consolidated attributable net profit declined to 53.3 billion Indian rupees in the fiscal fourth quarter ended March 31, from 55.0 billion rupees a year ago.Earnings per share contracted to 38.70 rupees from 39.95 rupees a year earlier, the engineering and infrastructure giant said in a filing to the Indian bourses on Tuesday. The figure missed the 41.58 rupees estimated by the analysts polled by Visible Alpha.Revenue from operations in fiscal Q4, however, increased to 827.6 billion rupees from 743.9 billion rupees a year ago. This was lower than Visible Alpha's estimate of 868.2 billion rupees.The company's board recommended a final dividend of 38 rupees per share of the face value of 2 rupees each for the financial year ended March 31. It has fixed May 22 as the record date to determine the eligible shareholders for the dividend.

BOM:500510NSE:LT

Asia55d ago

Megaport Launches New Capability for Filtering Malicious Network Traffic; Shares Up 3%

Megaport (ASX:MP1) launched Megaport Distributed Denial of Service (DDoS) Protection designed for filtering malicious traffic directly within the Megaport network, according to a Wednesday statement from company.The new feature integrates real-time traffic filtering into the company's internet service to reduce latency, avoid external scrubbing, and maintain uptime during attacks, the company said.In addition, the new capability enables self-service deployment in under a minute, applying protection at the internet protocol and host level so only harmful traffic is blocked.It also offers simplified, capacity-based pricing and automated protection profiles that help distinguish attacks from legitimate traffic surges, the company said.The company's shares rose around 3% in recent Wednesday trade.

ASX:MP1

Asia55d ago

Market Chatter: Samsung Electronics' Market Valuation Tops $1 Trillion on Strong AI Chip Demand

Shares of Samsung Electronics (KRX:005930) surged nearly 12% in Wednesday morning trade to hit a market valuation of $1 trillion, supported by the strong demand for AI chips, Bloomberg News reported on the same day.The South Korean chipmaker became the second Asian firm after Taiwan Semiconductor Manufacturing (TPE:2330) to hit the $1 trillion mark, the report said.Overseas investors appear to be driving the recent rally in the stock, supported by a deal between Interactive Brokers and Samsung Securities (KRX:016360) that allows U.S. investors to directly buy South Korean stocks, it said.The firm's semiconductor wing had posted record profit in the first quarter, surpassing expectations by a wide margin on strong AI data center demand, with analysts expecting the momentum to continue in the quarters ahead as contract prices keep moving higher amid a scarce supply, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:005930KRX:016360

International55d ago

S&P Global Singapore PMI Expands at Faster Pace in April

The S&P Global Singapore Purchasing Manager's Index posted above the 50.0 no-change mark for the 15th straight month in April, according to survey data released by S&P Global on Wednesday.PMI edged up to 57.9 in April from 56.7 in March, with the latest figure driven by a record injection of new business.The acceleration was also attributed to a pick-up in domestic demand, which offset a softer uptick in exports.

^STI

Asia55d ago

ASX Midday Sector Update: Financials Stocks Gain, Energy Slides

Financial stocks advanced nearly 3% to lead gainers in midday trading on Wednesday after Australia's central bank on Tuesday raised its official cash rate to 4.35%.Westpac Banking (ASX:WBC) rose nearly 5% after Jarden said in a Tuesday note that the bank has "meaningfully" boosted its growth and risk appetite to achieve a larger balance sheet and higher revenue base to increase earnings.On the flip side, energy stocks shed nearly 2% as oil prices declined after President Donald Trump said the US will pause an operation to help ships pass through the Strait of Hormuz due to "great progress" on a deal with Iran.Woodside Energy Group (ASX:WDS) dropped 2%, and Yancoal Australia (ASX:YAL) declined 4%.

ASX 200ASX:WBCASX:WDSASX:YAL

Asia55d ago

Sky Metals Begins New South Wales Project Development Approval Process; Shares Up 13%

Sky Metals (ASX:SKY) began the New South Wales State Significant Development approval process for the Tallebung project, with the submission of the scoping report, according to a Wednesday filing with the Australian bourse.The process facilitates the advancement of key environmental, technical, and permitting workstreams, moving the project towards near-term development, the filing said.An updated mineral resource estimate and pre-feasibility study are on track for release this quarter, per the filing.Shares rose 13% in midday trade on Wednesday.

ASX:SKY

Asia55d ago

MS Group Becomes Subject to Mandatory Takeover Offer After Stake Sale; Shares Surge 67%

MS Group (HKG:1451) became subject to a mandatory unconditional cash offer after a change in ownership structure, according to a Tuesday Hong Kong bourse filing.Shares of the plastic bottle manufacturer were up nearly 67% in Wednesday morning trade.Chairman Chau Ching, through Ching Wai Holdings, sold a 36.7% stake in MS Group, or 75 million shares, to L.V.E.P. for HK$60.0 million, or HK$0.80 apiece.L.V.E.P. is wholly owned by executive director and chief executive Chung Kwok Keung Peter, who, together with parties acting in concert, held about 35.5% of MS Group before the transaction.Following completion, their combined stake increased to about 72.2%, triggering a mandatory unconditional cash offer, the filing said.Rainbow Capital, on behalf of L.V.E.P., offered to acquire the remaining shares at HK$0.80 each and to cancel outstanding share options.The offer price represents a discount of about 35% to the stock's last closing price of HK$1.23 on April 20, according to the filing.

HKG:1451

Asia55d ago

Dreadnought Resources Starts Soil Sampling Program at Western Australia Project; Shares Up 6%

Dreadnought Resources (ASX:DRE) started a soil sampling program at the Mangaroon project in Western Australia to define gold and pathfinder elements at the High Range North, High Range Northwest, High Range South, Minga Bar, and Bordah camp scale targets, according to a Wednesday filing with the Australian bourse.Work is expected to be completed in June, with results expected in July, the filing said.Shares rose 6% in midday trade on Wednesday.

ASX:DRE

Asia55d ago

Hero MotoCorp's Consolidated Net Profit Rises in Fiscal Q4

Hero MotoCorp's (NSE:HEROMOTOCO, BOM:500182) consolidated attributable net profit grew to 14.6 billion Indian rupees in the fiscal fourth quarter ended March 31, from 11.6 billion rupees a year ago.Earnings per share came in at 72.91 rupees from 58.01 rupees a year earlier, the two-wheeler manufacturer said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also rose to 129.8 billion rupees from 99.7 billion rupees a year ago.The company's board recommended a final dividend of 75 rupees per share of face value of two rupees 2 each for the financial year ended March 31.

BOM:500182NSE:HEROMOTOCO

Asia55d ago

Guofu Hydrogen Energy to Supply Equipment For Green Power Project

Jiangsu Guofu Hydrogen Energy Equipment (HKG:2582) entered into a 150 million yuan sales agreement to supply equipment for a 300 megawatt new-energy-coupled green power project, according to a Hong Kong bourse filing Thursday.The hydrogen energy equipment provider's shares gained over 2% in morning trade Wednesday.The project is being constructed by Jiujiang Electric Power Construction (Shaanxi).Meanwhile, the firm said its Broaden Energy Hydrogen Solutions joint venture in the Middle East plans to construct a local manufacturing base for hydrogen energy equipment and hydrogen-powered drones.The JV entered into a lease agreement with Khalifa Economic Zone, Abu Dhabi, as part of steps to begin construction.

HKG:2582

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