Page 107 - Business Finance
Casio India Announces Tiger Shroff as the G-Shock India Brand Ambassador
/ -- The partnership is a splendid combination of the brand's ideology of toughness, style and attitude Casio India, has announced Bollywood actor Tiger Shroff as the brand ambassador for its popular range of G-Shock watches. The actor perfectly emulates the brand's values of toughness combined with style and attitude that resonate with the youth of today. As part of the brand ambassador engagement, Casio will launch the campaign #ChallengeTheLimits across different touch points including television, media, digital and social. Announcing the association, Kulbhushan Seth, Vice-President, Casio India said, "Tiger Shroff is one of the most promising newcomers of this generation. Within a short time span, he has made a mark for himself and stands as a stylish youth icon. His spirit of constantly challenging himself - be it his fitness regime or portrayal of roles is in perfect alignment with the brand ethos. We are thrilled with this association and have an exciting line-up of ...
Aluminium futures up 0.39 pc on spot demand
Aluminium prices inched up 0.39 per cent to Rs 143.05 per kg in futures trade Friday as speculators created fresh positions amid a positive trend overseas. On the Multi Commodity Exchange, aluminium contracts for June delivery edged up by 55 paise, or 0.39 per cent, to Rs 143.05 per kg in 2,377 lots. Analysts said building up of positions by participants on the back of rising demand from consuming industries in the physical markets, coupled with positive global cues, led to the rise in aluminium prices.
SriLankan Airlines named world's most punctual
SriLankan Airlines, the flag carrier of the island nation, has been named the 'World's Most Punctual Airline' for the second consecutive time with over 90 per cent of its flights in May being "on time", authorities said here Friday.
Stress on DHFL highlights funding risk in NBFCs: Fitch
DHFL's liquidity problems and its reported failure this week to pay coupons highlight the funding challenges faced by non-banking financial companies (NBFCs), Fitch Ratings said in a report. The cash crunch is in stark contrast to the banking sector, which has not faced significant liquidity pressure or deposit withdrawals, despite asset-quality and capital weaknesses, it said. NBFC issues were already known to the market but DHFL became a focus point after the failure of IL&FS in September 2018 contributed to a sector-wide liquidity squeeze as investors become more risk averse, it said. NBFC's liquidity is sensitive to market sentiment as their business models rely on short-term wholesale funding, which can dry up fast if market sentiment turns negative, it said. Fitch further said funding models of housing finance companies and loan companies, which have become increasingly reliant on short-term funding to fund longer-term assets, have been particularly affected by the liquidity
Paytm Payments Bank ahead of major banks in digital transaction target
Paytm Payments Bank has received a target of 501.16 crore digital transactions for the financial year 2019-20 from the Ministry of Electronics and Information Technology (MeitY), higher than the targets set for major banks including HDFC Bank, ICICI Bank and Punjab National Bank.
Aurobindo Pharma says co, subsidiary made party to litigation proceeding in US
Drug firm Aurobindo Pharma Friday said the company, its Director P V Ramprasad Reddy and step-down subsidiary Aurolife Pharma LLC, have been made party to a litigation proceeding in the US. The drug firm in a regulatory filing however said it is yet to receive a copy of the proceeding and denied what it said were 'baseless allegations' against the company. "Company, Aurolife Pharma LLC, a step-down wholly owned subsidiary in US and P V Ramprasad Reddy, our Director have been made party to a litigation proceeding in the United States of America," Aurobindo Pharma said in a filing to BSE. The company was reacting to a media report as per which, bankrupt US drug firm Aceto Corporation has accused Aurobindo Pharma and its founder P V Ramprasad Reddy of sabotage and has sought damages in a case filed in the US. "On preliminary examination of the compliant, the company has been advised by its legal advisors that the case appears to be devoid of merits and consists of baseless allegations ...
No-say Nissan had tech that drove Fiat Chrysler-Renault idea
Nissan wasn't consulted on the proposed merger between its alliance partner Renault and Fiat Chrysler, but the Japanese automaker's reluctance to go along may have helped bring about the surprise collapse of the talks. While Nissan Motor Co. had a weaker bargaining position from the start, with its financial performance crumbling after the arrest last year of its star executive Carlos Ghosn, it still had as its crown jewel the technology of electric vehicles and hybrids that Fiat Chrysler wanted. The board of Renault, meeting Thursday, didn't get as far as voting on the proposal, announced last week, which would have created the world's third biggest automaker, trailing only Volkswagen AG of Germany and Japan's Toyota Motor Corp. When the French government, Renault's top shareholder with a 15% stake, asked for more time to convince Nissan, Fiat Chrysler Chairman John Elkann abruptly withdrew the offer. Although analysts say reviving the talks isn't out of the question, they say trust .
Silver futures up 0.32 pc in thin trade
Silver prices edged up 0.32 per cent to Rs 37,141 per kg in futures trade Friday as speculators created fresh positions. On the Multi Commodity Exchange, silver contracts for July delivery rose by Rs 119, or 0.32 per cent, to Rs 37,141 per kg in a business turnover of 23,557 lots. Traders attributed the rise in silver prices at futures trade to fresh positions built up by traders. Globally, silver prices remained unchanged at USD 14.91 an ounce in New York.
Sensex, Nifty trade with small losses
Key equity indices were trading in a narrow range with tiny losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 38 points or 0.1% at 39,490.91. The Nifty 50 index was down 14 points or 0.12% at 11,829.75.
Jindal Stainless (Hisar) Ltd eases for fifth straight session
Jindal Stainless (Hisar) Ltd is quoting at Rs 83.65, down 0.24% on the day as on 13:24 IST on the NSE. The stock in last one year as compared to a 9.84% in NIFTY and a 20.3% up 32.07% in the Nifty Metal index.
Crude oil futures up 3.88 pc on global cues
Crude oil futures rose 3.88 per cent to Rs 3,721 per barrel Friday as speculators raised their bets on hardening of oil prices overseas. At the Multi Commodity Exchange, crude oil contracts for June delivery traded higher by Rs 139, or 3.88 per cent, at Rs 3,721 per barrel in 20,580 lots. Analysts said raising of bets by participants on a strong overseas trend, coupled with good domestic demand, kept crude prices higher at futures trade here. Globally, the US benchmark West Texas Intermediate crude strengthened 1.54 per cent to USD 53.40 per barrel, while Brent crude gained 1.51 per cent to USD 62.60 per barrel.
IMF urges policymakers to consider rising power of big successful companies
The International Monetary Fund (IMF) has said that rising power of big successful companies across the world could lower capital investment, weaken productivity and reduce people's take-home pay.While the rising corporate market power has had a fairly limited negative economic impact so far, it could take a bigger toll on growth and people's income if left unchecked."Policymakers around the world need to ensure a level playing field among all companies, including new ones. This means lowering domestic barriers to entry, for example, by reducing administrative burdens on start-ups and reducing barriers to trade and foreign direct investment -- especially in services," the IMF said in a blog post on Thursday (local time).It also means strengthening some features of competition law and policies such as the role of market examinations, reforming corporate taxes to tax the excess returns on capital derived from market power, and ensuring that intellectual property rights encourage ...
Gold futures down on profit-booking
Gold prices fell by Rs 17 to Rs 32,783 per 10 gram in futures trade Friday amid profit-booking by speculators, in tandem with weakening prices overseas. On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 17, or 0.05 per cent, at Rs 32,783 per 10 gram in a business turnover of 16,529 lots. Similarly, the metal for delivery in October was down by Re 1 to Rs 32,936 per 10 gram in 1,726 lots. Analysts attributed the fall in gold prices to trimming of positions by participants to book profits. Globally, gold traded 0.36 per cent lower at USD 1,337.80 an ounce in New York.
REC Ltd up for fifth session
REC Ltd is quoting at Rs 151.75, up 1.68% on the day as on 12:49 IST on the NSE. The stock is up 32.07% in last one year as compared to a 10.11% spurt in NIFTY and a 22.07% spurt in the Nifty Financial Services.
Realme to launch its first 5G handset in 2019
Realme India CEO Madhav Sheth has announced that the firm would be among the first handset makers to launch 5G products this year.
Cyient will be watched after investment in rail cybersecurity company Cylus
Cyient announced a corporate venture investment in Cylus, a global leader in cybersecurity solutions for the rail industry. This investment is in line with the company's focus on developing smarter and safer mobility solutions for the rail industry. It brings together Cyient's leadership position in engineering solutions for rail and focus on digitalization, with Cylus' cybersecurity solutions developed specifically for the rail industry.
Thomson Reuters Financial and Risk Business becomes Refinitiv in India
The Financial and Risk Business of Thomson Reuters is now part of the Refinitiv group in India, following the close of the India-specific deal that formed part of the global partnership between US private equity group Blackstone and Thomson Reuters in October 2018.The new name, Refinitiv, was created based on feedback from customers and industry influencers on the value of the Thomson Reuters Financial and Risk Business to the industry. It is a name that aims to blend definitive action in financial markets and a bold focus on the future with a 160-year legacy of excellence as a pioneer in financial technology.Refinitiv is one of the world's largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading, open data and technology platforms that connect a thriving global financial markets community - driving performance in trading, investment, wealth management, regulatory ...
Indices hover with small losses
Stocks hovered with small losses in early afternoon trade. At 12:23 IST, the barometer index, the S&P BSE Sensex, was down 60.96 points or 0.15% at 39,468.76. The Nifty 50 index was down 11.35 points or 0.1% at 11,832.40. Sentiment was impacted by provisional data showing that domestic and foreign funds, both, were net sellers of Indian equities yesterday, 6 June 2019. Most auto stocks fell.
Eimco Elecon (India) Ltd leads gainers in 'B' group
Kesar Enterprises Ltd, Steel Exchange India Ltd, Bedmutha Industries Ltd and Cubex Tubings Ltd are among the other gainers in the BSE's 'B' group today, 07 June 2019.
RateGain Partners With OYO Hotels & Homes
/ -- The partnership will give OYO access to the largest demand network in hospitality distribution RateGain today announced a strategic global partnership with OYO Hotels & Homes, the world's 6th largest chain of hotels, homes, and living spaces to extend its distribution platform RezGain to OYO. RateGain will enable OYO to leverage RezGain to make the OYO inventory available on 700+ OTA's across more than 80 countries. Through this strategic partnership, RateGain will provide distribution to OYO to reach global and regional demand channels to spur its expansion. It will also support OYO's efforts to standardize across its vast portfolio and increase its reach worldwide by offering access to new channels, and to drive innovation in distribution by testing next generation distribution technologies that will help hotel chains like OYO in optimizing their distribution while dramatically shortening their time-to-market. With connections to over 287 global demand partners, 600 ...