Page 1236 - Business Finance
Weak market breadth
Key indices were trading with small losses in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 18.87 points or 0.05% at 36,089.60. The Nifty 50 index was down 12.90 points or 0.12% at 10,818.60.
ECB to acknowledge weak growth but keep policy unchanged
FRANKFURT (Reuters) - The European Central Bank is all but certain to keep policy unchanged on Thursday but may acknowledge a sharp slowdown in economic growth, raising the prospect of any further policy normalisation being delayed.
Global Markets: Asian shares edge up; ECB decision awaited
TOKYO (Reuters) - Asian shares inched up in subdued trade on Thursday after Wall Street ended higher, but political uncertainty in the United States and worries about weakening global economic growth kept many investors on the sidelines.
Renault boss Carlos Ghosn has resigned: French economy minister
Embattled Renault boss Carlos Ghosn has resigned, France's economy minister said Thursday ahead of a board meeting at which the French car maker is to appoint his successors. A senior director from the firm "received last night the letter of resignation from Carlos Ghosn", who remains detained in Japan, Economy and Finance Minister Bruno Le Maire told AFP. The Renault board is to meet Thursday at its headquarters near Paris and is tipped to name interim chief executive Thierry Bollore as CEO and the head of tyre manufacturer Michelin, Jean-Dominique Senard, as chairman. Ghosn, who had held both roles, is expected to stay behind bars for several months after seeing a second bail request denied on Tuesday. He faces three separate charges: two of under-declaring his income by tens of millions of dollars over eight years and another of seeking to shift personal investment losses onto Nissan.
Hyundai Motor sees first quarterly loss in eight years
South Korea's largest automaker Hyundai Motor reported its first quarterly loss in eight years on Thursday, with currency swings sending it USD 180 million into the red in October-December despite improved sales. Operating profit fell 35 per cent from a year earlier to 501 billion won (USD 443 million), the firm said in a statement, and it made a net loss of 203 billion won. "Due to weakened currency in emerging markets coupled with other external factors... profitability fell in 2018 compared to the previous year," said Hyundai, which together with its subsidiary Kia is the world's fifth-largest automaker. The company sold 1.23 million cars worldwide in the fourth quarter, up 0.6 per cent from the same period a year earlier, mainly due to rising demand from Europe and key emerging markets including Brazil and Russia. It forecast business conditions to remain grim in 2019 owing to an ongoing trade war between Washington and Beijing and slowing growth in China -- once a major market ...
Indian Bank spurts 2.11%
Indian Bank is quoting at Rs 253.75, up 2.11% on the day as on 12:54 IST on the NSE. The stock is down 32.83% in last one year as compared to a 2.3% drop in NIFTY and a 20.64% drop in the Nifty PSU Bank index.
MG Motor India ties up with car sharing firm Myles
MG Motor India Thursday announced a tie-up with car sharing and subscription player, Myles as part of its next-generation mobility solutions strategy. The value of this tie-up will be over Rs 250 crore in the first phase which will enable introduction of MG cars with "disruptive car ownership solutions in partnership with Myles", the company said in a statement. Announcing the tie-up, MG Motor India President & Managing Director Rajeev Chaba said,"the partnership will enable customers to experience our upcoming SUV MG Hector on a subscription basis, book test drives of the car and avail courtesy car benefit through the Myles platform." The Hector, which will mark the kick-off of the company's India journey will hit the market by the second quarter of 2019 and will be produced at its manufacturing facility at Halol. Chaba further said,"we plan to extend the Myles subscription model for our second vehicle as well a pure electric vehicle (EV) that will be launched by the end of ...
Silver slides 0.19% on negative global cues
Tracking weak cues from overseas markets, silver prices moved down 0.19 per cent to Rs 39,024 per kg in futures trading Thursday as speculators trimmed their positions. At the Multi Commodity Exchange, silver for delivery in March month fell by Rs 75, or 0.19 per cent, to Rs 39,024 per kg in business turnover of 998 lots. The white metal for delivery in February was trading lower by Rs 72, or 0.18 per cent, to Rs 39,048 per kg in 442 lots. Traders said offloading of positions by participants on the back of weak global trend, mainly weighed on silver prices at futures trade. Silver fell 0.33 per cent to USD 15.39 an ounce in New York.
Hyundai Motor posts first net loss in 8 years as China sales tumble
SEOUL (Reuters) - South Korea's Hyundai Motor surprised the market on Thursday by posting its first quarterly net loss in at least eight years as its vehicle sales skidded in the key China market.
Davos: France keeping 2019 economic forecast and Internet tax plans - Le Maire
DAVOS (Reuters) - France will stick to its forecast for 2019 economic growth of 1.7 percent and broader plans to tax the world's biggest Internet and software companies, finance minister Bruno Le Maire told Reuters Television on Thursday.
AI Express to start first direct Sharjah-Surat flight service from Feb 16
Air India Express will launch its first direct flight service from Surat to Sharjah on February 16 and will also expand services from Gulf to Kannur in Kerala. The carrier, the international budget arm of Air India, will deploy Boeing 737-800 NG aircraft on this route. The flight will depart from Sharjah at 7:35 PM and arrive in Surat at 11:45 PM on Mondays and Saturdays, the airline announced in a statement. From Surat, the flight will depart at 12:30 AM with arrival into Sharjah at 02:15 AM on Tuesdays and Sundays. This service will be upgraded to four flights a week in the summer schedule. Surat-Sharjah will be the 47th non-stop direct connection of Air India Express between destinations in India and the Gulf region. Air India Express is set to further expand its operations in its summer schedule 2019, which shall commence on March 31, 2019. Operating with a fleet of 25 Boeing 737-800 NG aircraft, the airline will have 653 weekly departures in the new schedule, as against 621 ...
Oil prices dip on worries fuel demand to stall as global growth slows
SINGAPORE (Reuters) - Oil prices declined on Thursday on lingering concerns that slowing global economic growth may limit fuel demand and after a surprise build in U.S. crude inventories.
TTK Healthcare Ltd leads gainers in 'B' group
Spice Mobility Ltd, Nitesh Estates Ltd, Akme Star Housing Finance Ltd and Ind-Swift Laboratories Ltd are among the other gainers in the BSE's 'B' group today, 24 January 2019.
Market turns range bound
The market was range bound in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 51.49 points or 0.14% at 36,159.96. The Nifty 50 index was up 8.50 points or 0.08% at 10,840.
Linde India Ltd leads gainers in 'A' group
Navkar Corporation Ltd, Oberoi Realty Ltd, Ujjivan Financial Services Ltd and Interglobe Aviation Ltd are among the other gainers in the BSE's 'A' group today, 24 January 2019.
Chidambaram calls announcement to fill vacant railway posts another 'jumla'
Calling the Centre's announcement of employing over four lakh people in Railways "another jumla", former Finance Minister P. Chidambaram on Thursday said the Railway Ministry has "suddenly" woken up to posts lying vacant for nearly five years.
Edelweiss Financial Services Q3 net rises 18% to Rs 258.35 crore
Edelweiss Financial Services Thursday reported a 18.16 per cent increase in consolidated net profit at Rs 258.35 crore for the third quarter ended December 2018. The net profit of the company stood at Rs 218.64 crore in the corresponding quarter a year ago. Its total income increased by 25.46 per cent to Rs 2,790.69 crore in the quarter under review as against Rs 2,224.23 crore in the December quarter of 2017-18, it said in a BSE filing. Shares of the company were trading 3.30 per cent lower at Rs 155.20 apiece on BSE.
Australia's Amcor delays Bemis takeover citing U.S. govt shutdown
(Reuters) - Amcor Ltd, world's biggest listed packaging company, pushed the closing date of its takeover of American rival Bemis Co Inc by a quarter on Thursday, citing regulatory logjam due to the partial U.S. government shutdown.
Paytm may enter two more developed markets in 2019 - CFO
(Reuters) - Digital payments company Paytm is considering foraying into 1-2 more developed markets in 2019, Chief Financial Officer Madhur Deora said on Wednesday at the World Economic Forum in Davos.
Apollo Micro sizzles after new order win
Apollo Micro Systems rose 0.82% at Rs 122.75 at 11:25 IST on BSE after the company bagged a supply order from Bharat Dynamics, a Defence Public Sector Undertaking worth Rs 12.99 crore.