Page 1134 - Business Finance
Agri stocks gain on Govt's emphasis on agriculture sector in interim budget
Shares of nine companies whose business is linked with the agriculture sector rose by 0.35% to 3.64% at 11:45 IST on BSE after Finance Minister Piyush Goyal in the interim budget 2019-20 laid emphasis on agriculture and farmers.
Highlights: India unveils budget aimed at tackling rural distress
NEW DELHI (Reuters) - India on Friday unveiled an interim budget with giveaways for rural citizens, in what is being seen as a critical test for Prime Minister Narendra Modi, who is facing anger over depressed farm incomes and unemployment with a general election just months away.
Modi government reversed policy paralysis, put India back on track: Goyal
Finance Minister Piyush Goyal on Friday said the Modi government has reversed the policy paralysis of the past, restored the image of the country and put it on the path of sustained growth, making India the world's fastest growing economy.
Govt announces cash dole for small farmers
The Government on Friday announced Rs 6,000 per year cash support to small and marginal farmers that will cost the exchequer Rs 75,000 crore annually, in a bid to provide relief to distressed farm sector. Under the scheme called Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 will be transferred into bank accounts of farmers holding up to 2 hectares of land in three equal instalments. Announcing the scheme during the Budget speech in Lok Sabha, Finance Minister Piyush Goyal said it will benefit 12 crore farmers and will be implemented from this fiscal itself. He said Rs 20,000 crore have been provided for current fiscal and also announced allocation of Rs 75,000 crore for the next fiscal.
Market trims gains as FM begins budget speech
Stocks trimmed some intraday gains as interim Finance Minister Piyush Goyal began his interim Budget speech in Parliament. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 133.30 points or 0.37% at 36,389.99. The Nifty 50 index was up 37.90 points or 0.35% at 10,868.85.
Three PSU banks rise after RBI removes lending curbs
Bank of Maharashtra, Oriental Bank of Commerce and Bank of India advanced at 11:20 IST on BSE after the Reserve Bank of India permitted these banks to exit the prompt corrective action framework.
Chana futures rise 0.12 pc on robust demand
Chana prices rose 0.12 per cent to Rs 4,239 per quintal in futures trading Friday, as speculators created huge positions, supported by soaring demand from dal mills at the spot market. Chana for the April contract was trading higher by Rs 5, or 0.12 per cent, to Rs 4,239 per quintal with an open interest of 19,890 lots at the National Commodity and Derivatives Exchange. Similarly, the commodity for May gained Rs 27, or 0.63 per cent, to quote at Rs 4,288 per quintal. Analysts attributed the rise in chana prices in futures trade to widening of positions by speculators, tracking a firm trend at the domestic spot market on strong demand from dal mills.
Japan's Nintendo, Line team up for new Mario mobile game
TOKYO (Reuters) - Japan's Nintendo Co Ltd said on Friday it was developing a smartphone game with messaging app operator Line Corp, as it continues to branch out into mobile gaming and diversify its revenue streams.
Budget 2019: India to breach fiscal deficit target this financial year
NEW DELHI (Reuters) - India's fiscal deficit this financial year would be 3.4 percent of gross domestic product (GDP), slightly higher than the targeted 3.3 percent, the country's acting finance minister said on Friday while presenting an interim budget.
Budget 2019-20: Deficit for current fiscal pegged higher at 3.4%
The Centre on Friday revised upwards the fiscal deficit target for 2018-19 to 3.4 per cent of the GDP, from the previous target of 3.3 per cent.
Himachal CM invites Telangana investors to Global Investor's meet 2019
Himachal Pradesh Chief Minister Jai Ram Thakur invited investors in Hyderabad to participate in the Rising Himachal Global Investors Meet-2019 in Dharmashala which is scheduled to be held on June 10 and 11."The Himachal Pradesh government is inviting the investors for tourism, agriculture, infrastructure, and pharmaceutical sectors. The government has taken a decision to change the policies if required for the investors' benefits. For investment, Himachal will be a great destination," said Thakur while addressing the media in Hyderabad on Wednesday.During a road show in Hyderabad, he said that his government in the state wants a holistic approach towards inviting investment and not merely from the tourism point of view.While explaining about the policies of the Himachal government that would create a positive environment for the investors to grow their business in different sectors, Thakur said: "Himachal Pradesh is leading in hydel power generation which supplies power 24 hours a day
Highlights: India unveils Budget 2019 aimed at kickstarting rural employment
NEW DELHI (Reuters) - India on Friday unveiled a budget aimed at tackling rural discontent, in what is being seen as a critical test for Prime Minister Narendra Modi who is facing anger over depressed farm incomes and unemployment, with a general election just months away.
Deutsche Bank swings to full year profit after weak fourth quarter
FRANKFURT (Reuters) - Deutsche Bank returned to profit in 2018, its first in four years, despite a loss in the fourth quarter, it said on Friday.
Factory activity shrinks across Asia as cooling China threatens global growth
HONG KONG (Reuters) - Factory activity shrank across much of Asia in January, falling to the weakest in years in several countries and adding to worries that trade tariffs and cooling demand in China pose an increasing threat to global growth.
Maruti Suzuki India jumps after rise in Jan sales
Maruti Suzuki India rose 3.35% to Rs 6850 at 11:10 IST on BSE after the company said that its total sales rose 0.2% to 151,721 units in January 2019 over January 2018.
ZTE and IHS Jointly Release the White Paper "5G Best Choice Architecture"
/ -- ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, today announced that it has jointly released the white paper "5G Best Choice Architecture" along with IHS. Based on a comparative analysis of 5G SA and NSA, the white paper concludes that SA architecture is the better path to the target network in 5G era from the perspectives of long-term investment, business capability and network performance. From the perspective of network investment, in spite of low initial investment of NSA architecture, NSA architecture's long-term cumulative investment cost is relatively higher than that of SA architecture, considering the upgrade cost of existing LTE network equipment and the evolution cost to SA architecture. Furthermore, the initial deployment cost of SA architecture can be significantly reduced by virtue of an appropriate 5G deployment strategy. For instance, selective 5G ...
Budgetary expectations push equity indices higher; Sensex up 148 points
Positive expectations from the interim Budget for 2019-20 on Friday buoyed the BSE Sensex by 148 points during the pre-noon trade session.
Vedanta shares plunge 20%; hit 1-year low post Dec qtr results
Shares of mining giant Vedanta Friday tumbled nearly 20 per cent after the company reported a 25.54 per cent decline in consolidated net profit for the December 2018 quarter. Shares of the company opened the day on a weak note and further plummeted 19.82 per cent to Rs 158.35 -- its 52-week low -- on the BSE. On the NSE, its counters slumped 19.86 per cent to one-year low of Rs 158.15. Vedanta was the biggest loser on both key indices during the morning trade. The metal and mining major Thursday reported a 25.54 per cent fall in consolidated net profit at Rs 1,574 crore for the December 2018 quarter. It had posted a consolidated net profit of Rs 2,114 crore in the corresponding quarter of the previous fiscal, the company said in a filing to the BSE. Total expenses increased to Rs 21,589 crore, from Rs 20,456 crore a year ago.
Volumes jump at Sundram Fasteners Ltd counter
Sundram Fasteners Ltd witnessed volume of 1.57 lakh shares by 10:35 IST on BSE, a 24.89 times surge over two-week average daily volume of 6321 shares
Dewan Housing falls for fifth straight day on mismanagement claims
(Reuters) - Shares of Indian home loan provider Dewan Housing Finance Corp Ltd fell for the fifth straight session on Friday, a day after it appointed an "independent" auditor to investigate allegations of financial mismanagement against the company.