Page 1187 - Business Finance
SBI set to own 15 percent of Jet Airways after debt for equity swap - reports
NEW DELHI (Reuters) - State Bank of India, a lender to Jet Airways, is likely to own 15 percent of the cash-strapped carrier after the airline gets consent for a debt to equity swap, TV channels reported on Tuesday citing agencies.
Hester Biosciences Q3 net profit up 82 pc to Rs 11.85 cr
Animal healthcare firm Hester Biosciences Tuesday reported 82 per cent rise in standalone net profit at Rs 11.85 crore for the third quarter ended December, 2018. The company had posted a net profit of Rs 6.50 crore in the same period of the previous fiscal, Hester Biosciences said in a BSE filing. Its standalone net sales stood at Rs 41.55 crore for the quarter under consideration as against Rs 31.92 crore in the year-ago period. Shares of Hester Biosciences were trading at Rs 1,130 per scrip on the BSE, up 3.67 per cent from its previous close.
Jet Airways shares decline over 2 pc
Shares of Jet Airways fell over two per cent in the afternoon trade Tuesday amid the crisis-hit airline deciding to seek shareholders' approval for conversion of loans into shares. The full-service carrier, which is looking to raise funds to tide over financial woes, would hold a meeting of the shareholders on February 21 and has sought nod from them for various proposals. Shares of Jet Airways dropped 2.36 per cent to Rs 239.60 apiece in the afternoon trade on the BSE. After opening at Rs 245.50, the scrip touched a high of Rs 251.35 before shedding the gains. The airline would seek shareholders' approval for conversion loan into shares or convertible instruments or other securities, according to a regulatory filing made on Monday. The extraordinary general meeting of the shareholders is to be held on February 21. The airline would seek nod to "convert the whole or part of the outstanding under loans, extended / to be extended by the lenders, into shares, or convertible instruments ..
Tata Elxsi Ltd down for fifth straight session
Tata Elxsi Ltd is quoting at Rs 873.65, down 0.17% on the day as on 13:24 IST on the NSE. The stock tumbled 19.32% in last one year as compared to a 4.2% slide in NIFTY and a 14.48% spurt in the Nifty IT index.
Dabur India Ltd eases for fifth straight session
Dabur India Ltd is quoting at Rs 423.65, down 0.88% on the day as on 13:24 IST on the NSE. The stock jumped 18.14% in last one year as compared to a 4.2% slide in NIFTY and a 7.44% spurt in the Nifty FMCG index.
Apollo Tyres Ltd extends losses
Apollo Tyres Ltd is quoting at Rs 202.75, down 3.29% on the day as on 13:24 IST on the NSE. The stock tumbled 21.55% in last one year as compared to a 4.2% slide in NIFTY and a 30.22% fall in the Nifty Auto index.
Exide Industries Ltd drops around 1%
Exide Industries Ltd is quoting at Rs 218.15, down 1.02% on the day as on 13:24 IST on the NSE. The stock tumbled 3.24% in last one year as compared to a 4.2% slide in NIFTY and a 30.22% fall in the Nifty Auto index.
Silver futures rise 0.45% on firm global cues
Silver futures rose 0.45 per cent at Rs 40,115 per kg Tuesday after speculators raised bets, driven by a firm trend overseas. Silver for delivery in March traded higher by Rs 179, or 0.45 per cent, at Rs 40,115 per kg in a business turnover of 15,549 lots at the Multi Commodity Exchange. In a similar manner, the white metal to be delivered in far-month May advanced by Rs 213, or 0.53 per cent, to Rs 40,750 per kg in 2,998 lots. Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals, influenced silver prices at futures trade here. In the international market, silver traded higher at USD 15.85 an ounce in Singapore.
Aluminium futures up 0.72% on spot demand, global cues
Aluminium prices inched up by 0.72 per cent to Rs 132.30 per kg in futures trade Tuesday as speculators created fresh positions amid rising spot demand and positive overseas trend. At the Multi Commodity Exchange, aluminium for delivery in January edged up by 95 paise, or 0.72 per cent, to Rs 132.30 per kg in 5,709 lots. Analysts said positions built up 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.
Chana futures gain 0.59% on strong demand
Chana prices went up by 0.59 per cent to Rs 25,255 per quintal in the futures trade Tuesday, as participants enlarged their positions, tracking a firm trend at the spot market on surging demand. At the National Commodity and Derivatives Exchange, chana for delivery in April rose by Rs 25, or 0.59 per cent, to Rs 4,255 per quintal with an open interest of 1,650 lots. Analysts said expanding of positions by traders on the back of strong demand in view of the ongoing festive season and increased offtake by dal mills in the physical market mainly attributed the rise in chana prices at futures trade.
Benchmarks hit fresh intraday low; Nifty slips below 10,600 mark
Key equity indices extended losses and hit fresh intraday low in afternoon trade. At 13:17 IST, the barometer index, the S&P BSE Sensex, was down 257.69 points or 0.72% at 35,399.01. The Nifty 50 index was down 69.20 points or 0.65% at 10,592.35. The Nifty slipped below 10,600 mark.
India Crude Steel Production Up Nearly 5% In 2018
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GOI Announces Sale Of Five Dated Securities For Rs 12000 Crore
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Public Sector Banks Committed To Significantly Step Up Domestic Credit Growth
Finance Minister Piyush Goyal yesterday reviewed the performance of Public Sector Banks (PSBs) with Secretary, Department of Financial Services Rajiv Kumar and bank CEOs. The review was against the backdrop of visible signs of strengthening of the financial of PSBs as a result of Government's comprehensive 4R's approach of recognition, resolution, recapitalisation and reforms, which has positioned PSBs to step up their support to meet the lending needs of a growing economy.
Jubilant Foodworks Ltd rises for five straight sessions
Jubilant Foodworks Ltd is quoting at Rs 1203.4, up 0.11% on the day as on 12:44 IST on the NSE. The stock is up 12.56% in last one year as compared to a 3.76% fall in NIFTY and a 7.61% fall in the Nifty FMCG.
Gold futures up 0.15 per cent on positive global cues
Gold futures were trading higher by 0.15 per cent at Rs 32,595 per 10 gram Tuesday as traders raised bets amid positive cues from global markets. Gold to be delivered by February was trading higher by Rs 48, or 0.15 per cent, at Rs 32,595 per 10 gram in a business turnover of 6,923 lots at the Multi Commodity Exchange. Similarly, the metal for delivery in April also gained Rs 68, or 0.21 per cent, to Rs 32,697 per 10 gram in 268 lots. Analysts attributed the rise in the precious metal to widening of positions by participants in line with a firming trend overseas. Meanwhile, gold was trading 0.34 per cent higher at USD 1,306.43 an ounce in Singapore.
Indices trade with weakness
Key indices continued to trade with weakness in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 55.40 points or 0.16% at 35,601.30. The Nifty 50 index was down 8.45 points or 0.08% at 10,653.10. Most pharma shares rose.
Hindustan Petroleum Corporation achieves financial closure for Rajasthan Refinery Project
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Fintech NBFC Vivifi Appoints Narayanan Ramamurthy as CFO
/ -- Plans to expand FlexSalary through strategic financial partnerships Vivifi India Finance Private Limited (Vivifi), a Fintech NBFC (non-banking finance company), has announced the appointment of Narayanan Ramamurthy as the company's Chief Financial Officer (CFO). Prior to joining Vivifi, Narayanan helped Bank Bazaar, as its CFO, with financial partnerships including equity partnerships from Amazon. (Logo: https://mma.prnewswire.com/media/779617/VivifiLogo.jpg ) (Logo: https://mma.prnewswire.com/media/779616/FlexsalaryLogo.jpg ) A chartered accountant by profession, Narayanan has over two decades experience and has worked with global organizations such as Deloitte, Accenture, Citibank and KPMG. He has also provided consulting services to various start-ups and SMEs in the Fintech vertical. Speaking on the appointment, Anil Pinapala, Founder & CEO, Vivifi India, said, "I extend a warm welcome to Narayanan who will be a significant addition to Vivifi's growing team. Besides his ..
Crude oil futures up 1.47% on global cues
Crude oil futures rose 1.47 per cent to Rs 3,736 per barrel Tuesday as speculators raisied their bets as oil prices hardened overseas. In futures trade at the Multi Commodity Exchange, crude oil for delivery in November was trading higher by Rs 54, or 1.47 per cent, at Rs 3,736 per barrel in 13,832 lots. Analysts said raising of bets by participants on strong trend overseas, coupled with good domestic demand, kept crude prices higher at futures trade here. Meanwhile, the US benchmark West Texas Intermediate crude prices strengthened 0.73 per cent to USD 52.37 barrel and Brent crude gained 0.77 per cent to USD 60.39 a barrel.