Page 108 - Business Finance

UN chief praises India's commitment to South-South cooperation

Describing India as a "valued supporter" of South-South cooperation, UN chief Antonio Guterres has praised the India-UN Development Partnership Fund for "championing greater prosperity" for all through its myriad projects benefitting the least developed, landlocked and small island nations. India has also been at the forefront of our efforts to reform the UN Development System, the UN Secretary General said. "India is a valued supporter of South-South cooperation. The India-UN Development Partnership Fund is a welcome contribution that is championing greater prosperity and opportunity for all," Guterres said in his message. The message was read out on the occasion of the commemoration of the second anniversary of the India-UN Development Partnership Fund here Thursday organised by the Permanent Mission of India to the UN together with the UN Office for South-South Cooperation (UNOSSC). Guterres said with its focus on 'Least Developed Countries', 'Landlocked Developing Countries' and ..

Lakshmi Vilas Bank hits the roof

Lakshmi Vilas Bank hit an upper circuit limit of 5% at Rs 73.80 at 11:50 IST on the BSE after media reports suggested that the proposed merger of Lakshmi Vilas Bank with Indiabulls Housing Finance is likely in 9-12 months.

Infibeam Avenues Ltd leads gainers in 'A' group

Lakshmi Vilas Bank Ltd, Hindustan Construction Company Ltd, Shankara Building Products Ltd and Astral Poly Technik Ltd are among the other gainers in the BSE's 'A' group today, 07 June 2019.

Market breadth turns negative

Volatility continued on the bourses in mid-morning trade as the key indices once again slipped in negative zone. At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 65.78 points or 0.17% at 39,463.94. The Nifty 50 index was down 17.80 points or 0.15% at 11,825.95. Sentiment was impacted by provisional data showing that domestic and foreign funds, both, were net sellers of Indian equities yesterday, 6 June 2019. Telecom stocks saw mixed trend.

Sagar Cement rises after good sales numbers

Sagar Cements rose 1.05% to Rs 679 at 10:58 IST on the BSE after the company's consolidated cement sales jumped 13.29% to 275,330 metric tonnes in May 2019 over May 2018.

Healthians launches operations in Maharashtra

Healthians, India's largest health test at home service has entered Mumbai and Pune with the acqui-hiring of Mumbai based Wow Web Solutions Private Limited that runs Healthy Labs - A B2B diagnostic logistic service provider. As a part of the deal all Healthy Labs employees, including the founder, Nikhil Jadhav will join Healthians.Healthy Labs, founded in January 2018, is a technology-driven B2B service provider that offers logistic support to healthcare providers in Maharashtra. The company currently serves multiple aggregators and offline labs for offering logistic services."Healthy Labs offers a quick growth opportunity for Healthians to strengthen and expand its presence. This is another step towards reaching our 100 Cr. revenue target this financial year as we are adding 30 talented and skilled resources to our organization with this acquisition. This will surely help in expanding our footprint across the region", said Deepak Sahni, Founder and CEO of Healthians.The company is ...

Right time for investing in Indian stressed assets: IBBI Chairperson

IBBI Chairperson says distressed assets in India is vast and will increase in days

Indiabulls Real Estate to offload 14 pc stake to third party investors

The promoters of Indiabulls Real Estate intend to sell 14 per cent of the fully paid-up capital to third-party investors, a move that has been planned to ensure focus on the financial services business in the long run.The company is seeking to exit the business ahead of the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank."In line with company's promoters' strategy to focus on financial services in the long run, the promoters intend to dispose of up to 14 per cent of the fully paid-up share capital of the company (out of the aggregate 38.72 per cent fully paid up share capital of the company, currently held by them) to third-party investors," it informed stock exchanges late on Thursday.The Indiabulls Group has reportedly been in talks with joint venture partner Blackstone Group and other leading developers like Godrej Properties to offload its stake.Last year, Blackstone had bought a 50 per cent stake in Indiabulls Real Estate office properties One Indiabulls and

Volumes spurt at Indiabulls Real Estate Ltd counter

Indiabulls Real Estate Ltd registered volume of 713.22 lakh shares by 10:49 IST on BSE, a 66.57 fold spurt over two-week average daily volume of 10.71 lakh shares

Corporatedge starts new serviced office centre in Delhi with Rs 10 cr investment

Corporatedge, which provides premium serviced office space, has opened its fourth centre, comprising over 200 seats, in central Delhi at a cost of Rs 10 crore and plans to invest an additional Rs 60 crore for business expansion in India and overseas, a top company official said. Corporatedge has taken on lease about 25,000 sq ft of office space at KG Marg here to set up its new centre. This is the company's fourth centre, with three already operational in Gurugram. "We have started a new centre in the heart of Delhi. Now we have four centres which are operational with total capacity of more than 800 seats spread over one lakh sq ft area," Corporatedge Founder and CEO Mona Shukla said. She said the company has invested about Rs 40 crore in setting up these four centres. The investment has been funded mainly through internal accruals. In 2017, it did raise Rs 15 crore from SIDBI Venture Capital Fund. The company charges anywhere between Rs 22,000 to Rs 50,000 per seat per month. On ...

US stocks end with strong gains

Reports of delaying Mexico tariff ease concerns

Market regains positive zone amid volatility

Volatility struck bourses in morning trade as the key indices regained positive zone after drifting lower in early trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 72.75 points or 0.18% at 39,602.47. The Nifty 50 index was up 21.15 points or 0.18% at 11,864.90.

IndusInd Bank gets revision in credit ratings from India Ratings & Research

Infra bonds issuance of Rs 2000 crore - IND AA+/Stable (Reaffirmed) Additional Tier I bonds issuance of Rs 4000 crore - IND AA/ Stable (Reaffirmed) Long term issuer rating - IND AA+/ Stable (Reaffirmed) Short term issue rating - IND A1+ (Reaffirmed)

Forevermark hosts business transformation programme at London School of Economics and Political Science in Shanghai

Forevermark, the diamond brand from De Beers Group, recently organised a customised programme on 'Leading Business Transformation' for their authorized retailers at the London School of Economics and Political Science (LSE) in Shanghai at the NYU Campus, one of the foremost social science universities in the world.Working with the London School of Economics and Political Science, Forevermark built this programme to open up the minds and build an enduring business transformation in the disruptive era for the leaders in the jewellery industry.The aim of the course was to transform the thought process and create new age leaders for today. The areas covered were disruptive technologies in a digital era, the future of work, value and play, new retail expedition, managing the family firm, the leader as a strategic and value-focused decision maker besides others.Apart from the insightful classroom education, the jewellers were given a specialized tour of Shanghai's modern retail formats ...

Stocks gain marginally in early trading amid volatile trading

Equity benchmark indices gained marginally in volatile trading during early hours on Friday, a day after the Reserve Bank of India's monetary policy cut interest rates marginally on expected lines.At 10:15 am, the BSE S & P Sensex was up 85 points at 39,614 while the Nifty 50 gained 31 points to 11,875. Except IT, metal and realty, all sectoral indices at the National Stock Exchange were in the negative zone.At 10:15 am, the BSE S & P Sensex was up 11 points at 39,541 while the Nifty 50 gained 19 points to 11,863. Except IT, metal and realty, all sectoral indices at the National Stock Exchange were in the negative zone.Among stocks, Dr Reddy dropped 2.7 per cent while pharma major Cipla was down 2.5 per cent. The other losers were IndusInd Bank, Maruti and Sun Pharma.However, Vedanta, Indiabulls Housing Finance, Bharti Infratel, State Bank of India and Sun Pharma showed marginal gains.Meanwhile, Asian shares traded mixed as investors awaited a key US jobs report and the ...

Giftalove.com announces rapid 3-hour delivery of gifts in India

In an internet driven world, where anything or everything can be availed with just a few clicks on the phone, the facility of three-hour delivery is certainly a blessing in disguise.People were already so overwhelmed with the home delivery services offered by the gifting websites when this one-day delivery service ventured in to make them happy as a clam. Giftalove.com, a 2013 established online gifting company, has joined the league of multiple flourishing online gifting portals by launching its same day gift delivery service for its esteemed customers in India.Ever since its inception, it always kept its eye on the ball to achieve a howling success in the world of online gifting, and after foraying into the world of gifts with this popular and successful service, it will definitely hit a home run and be a source of tough competition for its competitors.Popularly known as same day gift delivery, this three-hour gift delivery has become a popular phenomenon nowadays as it assists ...

Stocks gain marginally in early hours amid volatile trading

Equity benchmark indices gained marginally in volatile trading during early hours on Friday, a day after the Reserve Bank of India's monetary policy cut interest rates marginally on expected lines.At 10:15 am, the BSE S & P Sensex was up 85 points at 39,614 while the Nifty 50 gained 31 points to 11,875. Except IT, metal and realty, all sectoral indices at the National Stock Exchange were in the negative zone.At 10:15 am, the BSE S & P Sensex was up 11 points at 39,541 while the Nifty 50 gained 19 points to 11,863. Except IT, metal and realty, all sectoral indices at the National Stock Exchange were in the negative zone.Among stocks, Dr Reddy dropped 2.7 per cent while pharma major Cipla was down 2.5 per cent. The other losers were IndusInd Bank, Maruti and Sun Pharma.However, Vedanta, Indiabulls Housing Finance, Bharti Infratel, State Bank of India and Sun Pharma showed marginal gains.Meanwhile, Asian shares traded mixed as investors awaited a key US jobs report and the ...

Mega real estate event 'Billion Dreams' closes Square Yards first annual road-show calendar

Square Yards, India's largest proptech company, successfully closed its mega global real estate roadshow calendar 2018-19 with 'Billion Dreams'.The last in a series of 4 events, took place on the 24th, 25th and 26th May 2019 and was hosted simultaneously in 10 cities across India, in addition to the UAE, Oman, Qatar, Bahrain, Singapore, Hong Kong, and Australia.'Billion Dreams' witnessed more than 6,500 home seekers buying a staggering 670 properties worth a massive Gross Transaction Value (GTV) of over Rs 400 crore. Overall, the four marquee events combined witnessed 25,500 home seekers walking into venues spread across 8 countries, to buy 2,950 properties worth a Gross Transactional Value (GTV) of Rs 1,830 crore (USD 275 Million)."This was a first in its kind exercise, wherein we were able to successfully morph real estate sales into well-crafted brand campaigns fuelled by viral digital blitz, eventually leading to a frenzied sales velocity akin to FMCG", quoted Tanuj Shori, Founder

APM Industries fixes record date for scheme of arrangement

Record date is 14 June 2019

Cyient makes strategic investment in Israel-based Cylus

The move enables Cyient and Cylus to expand their industry-specific cybersecurity value proposition, jointly address market needs, and accelerate the development of cutting-edge cybersecurity solutions for rail. Israel-based Cylus is the developer of CylusOneTM, a cybersecurity software product, designed for mainline and urban rail systems. The solution detects cyber threats in the signaling and control networks, both trackside and onboard, facilitating a timely and effective response.