Page 1221 - Business Finance
Mukesh Ambani aims to become India's 1st Internet tycoon: The Economist
After a successful run with Jio which decimated the rival telecom players and has empowered 28 crore users in India till date, Reliance Industries Chairman and Managing Director Mukesh Ambani now wants to become India's first Internet tycoon, according to The Economist.
Gold rises as U.S. government shutdown augments global growth concerns
(Reuters) - Gold rose on Friday on concerns about a prolonged U.S. government shutdown at a time when global growth is already slowing, with markets waiting on U.S.-China trade talks due next week.
Ericsson posts lower than expected loss as savings and 5G demand kick in
STOCKHOLM (Reuters) - Mobile telecoms equipment company Ericsson beat fourth-quarter forecasts on Friday and said it was approaching its financial targets thanks to growing demand for next-generation 5G gear.
Vodafone's revenue growth slows in third quarter
LONDON (Reuters) - Vodafone said its key revenue measure deteriorated in the third quarter, down 40 basis points quarter-on-quarter to 0.1 percent, reflecting continuing price competition in Spain and Italy and a slowdown in South Africa.
Singapore's Olam to invest $3.5 billion in growth areas; exit sugar, rubber
SINGAPORE (Reuters) - Singaporean commodity trader Olam International plans to invest $3.5 billion into key growth areas, such as edible nuts, coffee and cocoa, over the next few years, while exiting four existing businesses to raise funds.
HCL Technologies Ltd spurts 1.71%, up for third straight session
HCL Technologies Ltd is quoting at Rs 962.65, up 1.71% on the day as on 12:54 IST on the NSE. The stock is down 4.88% in last one year as compared to a 2.07% fall in NIFTY and a 13.7% fall in the Nifty IT index.
Jubilant Foodworks Ltd up for third straight session
Jubilant Foodworks Ltd is quoting at Rs 1217.8, up 3.23% on the day as on 12:49 IST on the NSE. The stock is up 12.36% in last one year as compared to a 2.07% slide in NIFTY and a 9.34% slide in the Nifty FMCG index.
Hindustan Unilever gets CCI approval for scheme of amalgamation
The scheme remains subject to the receipt of other statutory and regulatory approvals, including the approvals of the stock exchanges, SEBI, the National Company Law Tribunal, and the respective shareholders and creditors of GlaxoSmithKline Consumer Healthcare and the company.
Japan trade minister says Renault, Nissan must maintain stable alliance
DAVOS, Switzerland (Reuters) - Japanese trade minister Hiroshige Seko on Friday urged Nissan Motor Co and Renault SA to maintain a stable alliance and expressed hope that executives from the automakers would take part in productive talks.
Goldman Sachs's Solomon warns hard Brexit means less investment
LONDON (Reuters) - Goldman Sachs will invest less in the United Kingdom if there is a difficult or hard Brexit, Chief Executive Officer David Solomon said.
Spencers Retail, CESC Ventures hit lower circuits on mkt debut
RP Sanjiv Goenka group's demerged companies from its flagship firm CESC, into Spencers Retail and CESC Ventures, made lukewarm debuts on bourses Friday. Both Spencers Retail and CESC Ventures hit their lower circuits in the first half of the trading session. Shares of the retail business, Spencers Retail, hit a lower circuit of Rs 212.80 on BSE after listing at Rs 230. While, on NSE, the stock was down at Rs 213.75 after opening at Rs 225. CESC Ventures was listed at Rs 545, but hit the day's low of Rs 517.75 on NSE. On BSE, the stock was listed at Rs 548 and was down to Rs 520.60, hitting the lower circuit of the day. In contrast, CESC was at Rs 690.10 at the time of filing the story, up by Rs 4.65 a share over previous close. Spencers Retail and CESC Ventures are non-power businesses of the power-generation and distribution major CESC. CESC shareholders, who had 10 shares, received six shares of Spencers Retail of face value of Rs 5 each under the scheme of arrangement. While rest ..
BJP should solve Goa mining impasse, says ally GFP
The Goa Forward Party, a partner in the Manohar Parrikar government, Friday said the ruling BJP must bring about a solution to the mining crisis in the state. The mining sector is defunct in Goa since March last year after the Supreme Court quashed 88 leases and banned the extraction of iron ore. Addressing a press conference, GFP vice president Durgadas Kamat said only the BJP could arrive at a solution for the mining sector. He said the GFP wanted the Centre to come out with an ordinance to allow the mining sector to resume operations. He, however, said that the party had not thought of withdrawing support to the Parrikar government on this issue. Such a "drastic step" would not help solve the mining crisis, Kamat told reporters.
Japan's December factory output to drop for second month, retail sales seen slowing: Reuters poll
TOKYO (Reuters) - Japan's factory output is expected to have slipped for a second straight month in December, a Reuters poll found on Friday, in yet another sign slowing global demand and trade frictions would hobble the economy for much of this year.
Signet Industries Ltd leads gainers in 'B' group
MRO-TEK Realty Ltd, Vipul Ltd, Hisar Metal Industries Ltd and Allsec Technologies Ltd are among the other gainers in the BSE's 'B' group today, 25 January 2019.
Market hovers in range; cement shares decline
The market was trading in a narrow range in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 181.41 points or 0.50% at 36,376.51. The Nifty 50 index was up 44.70 points or 0.41% at 10,894.50. The Nifty was trading below 10,900 mark after crossing that level in early trade.
Ericsson reports smaller fourth-quarter operating loss than expected
STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson reported on Friday a smaller fourth-quarter operating loss than expected and said it was on track to reach its financial goals.
SC upholds Insolvency and Bankruptcy Code in entirety
The Supreme Court on Friday upheld the Insolvency and Bankruptcy Code (IBC) in a landmark judgment which will bar defaulting promoters from bidding for their own assets.The apex court rejected pleas seeking changes in the IBC and upheld the code in entirety. It said that a founder cannot bid under the bankruptcy process.Thus promoters of bankrupt firms have been banned from bidding for insolvent companies. The three-year-old code has undergone many twists and turns. Several defaulted promoters had challenged the validity of Section 29A, which bars them from bidding for their own stressed assets.The IBC Amendment Act 2018, which replaced an earlier ordinance on Section 29A, debarred loan defaulters from bidding for stressed assets.The IBC hits at the root of the Rs 10 lakh crore non-performing assets (NPA) crisis.
Deepak Fertilizers & Petrochemicals Corp Ltd leads gainers in 'A' group
Edelweiss Financial Services Ltd, Yes Bank Ltd, Jindal Saw Ltd and Dewan Housing Finance Corporation Ltd are among the other gainers in the BSE's 'A' group today, 25 January 2019.
Global Markets: Asia stocks at 7-week top after U.S. techs rise
TOKYO (Reuters) - Asian stocks rallied to a seven-week high on Friday, buoyed by gains in U.S. technology firms as pockets of strength in corporate earnings eased some of the anxiety over a slowing global economy.
Markets open on a high note open after yesterday's closing
Stock markets opened on a high note on Friday with the BSE Sensex ruling at 36,469, up 267 points.At 10:05 hrs, the Nifty was also up 76 points at 10,925.Indian shares mirrored the rise in Asian indices which were buoyed by gains in US technology shares.Strong corporate earnings also helped the gains even as investors remained cautious over growing concerns on the weakening global economic growth..