Page 1173 - Business Finance
Crude oil declines 0.58% on subdued global cues
Crude oil prices Wednesday fell by another 0.58 per cent to Rs 3,798 per barrel as speculators indulged in reducing holdings amid a weakening trend overseas. In futures trading at the Multi Commodity Exchange, crude for delivery in February fell by Rs 22, or 1.20 per cent, to Rs 4,040 per barrel in a business volume of 14,758 lots. Analysts said continuous offloading of holdings by participants in line with a weakening trend in global crude, mainly weighed on crude prices at futures trade here. The oil for delivery in March, too, lost Rs 23, or 0.6 per cent, to Rs 3,834 per barrel in 568 lots. The West Texas Intermediate (WTI) crude fell 0.26 per cent to USD 53.17, while Brent crude, the international benchmark, shed 0.23 per cent to USD 61.18 a barrel at the New York Mercantile Exchange.
Debt-ridden Punjab seeks special package
With Punjab's debt estimated at over Rs 2.10 lakh crore, Chief Minister Amarinder Singh on Wednesday urged the 15th Finance Commission to sanction a 'Special Debt Relief Package' to support his government's efforts to revive fiscal health, along with a one-time package to enable payment of the entire debt of the distressed farmers of the agrarian state.
Godrej Industries Ltd extends losses
Godrej Industries Ltd is quoting at Rs 495.85, down 2.88% on the day as on 13:24 IST on the NSE. The stock tumbled 18.38% in last one year as compared to a 3.3% slide in NIFTY and a 8.71% spurt in the Nifty FMCG index.
MRF Ltd down for fifth straight session
MRF Ltd is quoting at Rs 61750.1, down 0.19% on the day as on 13:24 IST on the NSE. The stock tumbled 9.34% in last one year as compared to a 3.3% slide in NIFTY and a 30.02% fall in the Nifty Auto index.
Dewan Housing blasts report of alleged misconduct, shares still fall
NEW DELHI (Reuters) - Dewan Housing Finance Corp Ltd (DHFL) saw its shares fall more than 9 percent on Wednesday, as the Indian firm's rebuttal of a media report alleging financial misappropriation failed to stop investors selling the stock.
Weak jewellery sales to peg gold below $1,300 in 2019: GFMS
LONDON (Reuters) - Gold prices will average less than $1,300 this year as resurgent appetite from investors and central banks is offset by weaker jewellery demand, a GFMS Refinitiv report said on Wednesday.
Renault-Nissan group sold most cars last year, but VW's No.1 including trucks
TOKYO (Reuters) - Volkswagen Group has held on to its position as the world's top-selling automaker for the fifth year in a row, although the German group was edged out again by the Renault-Nissan-Mitsubishi alliance in the light-duty vehicles segment.
Israel games developer Playtika launches R&D centre in Bucharest
TEL AVIV (Reuters) - Israeli mobile games company Playtika said on Wednesday it was opening a research and development centre in Bucharest, with an initial investment of $6 million.
Nifty, Sensex muted, set for fourth day of declines
(Reuters) - Indian shares dipped on Wednesday, poised for a fourth straight session of declines ahead of China-U.S. trade talks, but losses were curbed as upbeat quarterly results by ICICI Bank Ltd and Axis Bank Ltd helped lift optimism.
Gold scales 8-month peak on Fed rate pause hopes, trade woes
(Reuters) - Gold prices edged up on Wednesday to their highest since May 2018, supported by uncertainty over U.S.-China trade relations and expectations the Federal Reserve will keep rates on hold.
Hindustan Zinc Ltd up around 1%
Hindustan Zinc Ltd is quoting at Rs 262.4, up 1.08% on the day as on 12:54 IST on the NSE. The stock is down 15.42% in last one year as compared to a 3.45% slide in NIFTY and a 29.7% slide in the Nifty Metal index.
Sun TV Network Ltd rises for third consecutive session
Sun TV Network Ltd is quoting at Rs 538.9, up 1.02% on the day as on 12:54 IST on the NSE. The stock is down 47.39% in last one year as compared to a 3.45% drop in NIFTY and a 37.55% drop in the Nifty Media index.
Zee Entertainment Enterprises Ltd rises for third straight session
Zee Entertainment Enterprises Ltd is quoting at Rs 383.1, up 1.51% on the day as on 12:54 IST on the NSE. The stock is down 35.47% in last one year as compared to a 3.45% slide in NIFTY and a 37.55% slide in the Nifty Media index.
Intel offered up to $6 billion for Israel's Mellanox: reports
TEL AVIV (Reuters) - U.S. chipmaker Intel Corp has bid $5.5-$6 billion in cash and stock to buy Israel's Mellanox Technologies, Israeli media reported on Wednesday.
RBI Set To Inject Durable Liquidity Worth Rs 375 Billion In February Through OMOs
The RBI noted yesterday that as announced vide Press Release dated December 18, 2018, the central bank has been monitoring the evolving liquidity conditions and durable liquidity requirements of the system, based on sustained changes in the behaviour of Currency in Circulation, the magnitude of sterilisation operations for RBI's forex operations and other relevant factors.
Technical Textiles Sector Estimated To Grow To Rs 2 Lakh Crore By 2020-21
India's Technical Textiles sector is estimated to grow to Rs. 2 lakh crore by 2020-21 noted the Union Textiles Minister Smriti Zubin Irani, at the National Conclave on Technical Textiles, jointly organized by the Ministry of Textiles and FICCI, in Mumbai yesterday. Under the aegis of Ministry of Textiles, for the first time in the history of India, the government has dedicated to the nation 207 HSN codes for technical textiles. This decision alone can enable the sector to grow at a massive pace in coming years.
NMDC Ltd up for fifth session
NMDC Ltd is quoting at Rs 95.35, up 3.59% on the day as on 12:49 IST on the NSE. The stock is down 32.04% in last one year as compared to a 3.39% drop in NIFTY and a 29.74% drop in the Nifty Metal.
Chinese EV carmaker NIO aims to raise $650 million with convertible bond
HONG KONG (Reuters) - Electric carmaker NIO Inc, among rivals to Tesla in China, launched a $650 million convertible bond on Wednesday, four months after it listed in New York.
LG Display warns of panel price weakness as wearables boost fourth quarter profit
SEOUL (Reuters) - South Korea's LG Display Co Ltd on Wednesday warned of weaker panel prices in the year ahead due to global economic uncertainty and U.S.- China trade tensions, as it posted a jump in quarterly profit thanks to surging sales of wearable screens.
Market hovers near flat line
A divergent trend was witnessed in early afternoon trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with small losses. At 12:19 IST, the barometer index, the S&P BSE Sensex, was up 10.73 points or 0.03% at 35,603.23. The Nifty 50 index was down 15.75 points or 0.15% at 10,636.45. Capital goods stocks saw mixed trend.