Page 1326 - Business Finance
White the most preferred car colour in India in 2018: Study
When it comes to car colours, white is the most-preferred choice for many Indian consumers with 43 per cent of them opting for the tone in 2018, according to a report by global paints major BASF. According to the 'BASF Color Report for Automotive OEM Coatings' by BASF's Coatings Division, the other two most popular car colours last year were grey and silver with each finding preferences of 15 per cent of buyers. Red with 9 per cent was the other popular colour, followed by blue at 7 per cent, while black had just 3 per cent buyers. "Small cars which are pearl white in colour are popular among Indian consumers. Customers in the warm climate of India may prefer white because white cars do not heat up so quickly," BASF Head of Design (Asia-Pacific) Chiharu Matsuhara said. She further said: "Another reason might be the luxurious image of this colour, as suggested by our trend observations." White also rules in the sports utility vehicle (SUV) segment, the report said with 41 per cent new
Sensex soars 465 pts; Yes Bank, Infy, RIL steal the show
The equity benchmark Sensex Tuesday rallied nearly 465 points after cooling retail inflation raised RBI rate cut hopes, leading to intense buying in rate-sensitive stocks, and supported by strong global cues. Private sector lender Yes Bank emerged as the top gainer with 3.86 per cent climb, followed by Infosys 3.66 per cent, Vedanta 3.03 per cent, Reliance 3.02 per cent and TCS 2.74 per cent, on the Sensex chart. The 30-share index settled 464.77 points, or 1.30 per cent, higher at 36,318.33, while the broader NSE Nifty rallied 149.20 points, or 1.39 per cent, to finish at 10,886.80. Market sentiment remained upbeat over retail inflation dropping to an 18-month low of 2.19 per cent in December, creating headroom for the Reserve Bank to ease monetary policy next month. Another set of official data showed that the wholesale inflation too eased to an eight-month low of 3.80 per cent in December. In the Sensex pack, other gainers were Bajaj Finance, Bharti Airtel, Tata Motors, Hero ...
Infosys shares continue to rally; gain nearly 4%
Shares of Infosys continued to gain Tuesday, rising by nearly 4 per cent, after the company approved share buyback and also raised its revenue growth forecast. The scrip ended 3.66 per cent higher at Rs 726.55 on BSE. During the day, it jumped 4.12 per cent to Rs 729.80. At NSE, shares of the company went up by 3.76 per cent to close at Rs 728.30. In terms of equity volume, 9.08 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day. The stock had gained nearly 3 per cent in the previous trading session also. India's second largest IT firm Friday reported 30 per cent drop in December quarter net profit on higher expenses even as it approved a Rs 8,260-crore share buyback -- the second in less than 13 months' time. Its net profit slumped to Rs 3,610 crore in October-December 2018 from Rs 5,129 crore in the same period a year ago, the company said in a statement. In spite of the drop in quarterly profit, the company raised its revenue
Aluminium futures up 0.73% on spot demand, global cues
Aluminium prices inched up by 0.73 per cent to Rs 143.55 per kg in futures trade on Monday as speculators created fresh positions amid rising spot demand and positive cues overseas. At the Multi Commodity Exchange, aluminium for delivery in March edged up 95 paise, or 0.73 per cent, to Rs 143.55 per kg in 225 lots. Analysts said build up of positions 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.
Navi Mumbai airport to be operational by mid 2020: Fadnavis
Maharashtra chief minister Devendra Fadnavis Monday said that the Navi Mumbai airport is likely to be operational by the mid next year. Speaking at the Global Aviation Summit here, Fadnavis also said that as many as nine more airports are in the pipeline in the state besides the Navi Mumbai airport. "The Navi Mumbai airport will be operational by mid 2020," Fadnavis said. The airport has capacity to add 1 percent to our GDP, he added. While Pune airport is being developed to cater to one of the major IT hubs in the country, Nagpur airport is being developed for its strategic location in national and international flight routes, he further said. All metros in India are around an hours distance from Nagpur by flight and this connectivity has called for more attention to its infrastructure development, the chief minister added. A passenger and cargo hub will also be created in Nagpur, Fadnavis said adding the state is looking to increase cargo capacity to 40 percent by 2025
Facebook to invest $300 million to help local news survive
(Reuters) - Facebook Inc will invest $300 million over three years in local news globally as it faces blistering criticism over its role in the erosion of the news business worldwide.
Equities up on rate cut hopes, positive Asian market clues
Expectations of an interest rate cut in the monetary policy over lower monthly inflation combined with a rebound in Asian markets gave a push to the Indian equity market on Tuesday.
Bain Capital to acquire majority stake in Brillio
Private equity major Bain Capital will be acquiring a majority stake in Bengaluru-based Brillio, a digital technology consulting and solutions company, for an undisclosed sum. The company is targeting to increase its revenues to USD 500 million in the next five years, its chief executive Raj Mamodia said without disclosing the current topline in a statement, adding the Bain investment is crucial for achieving the aim. Brillio will continue to be led by the current management team, headed by Mamodia. It has built a suite of services that enterprises need as they embark on their digital journeys and transform front office and middle office functionality, it said. Bain's managing director Pavninder Singh said his fund has had a close relationship with Brillio's team, crediting it for having created a disruptive business by creating an agile, digital-first team of professionals who deliver real-time impact for customers. "With its focus on new age technologies, partnerships
WayCool Foods raises Rs 120 crore to fund expansion
: City-based startup WayCool Foods Tuesday said it has raised Rs 120 crore by combination of equity and debt from angel investors, institutional lenders, including from Northern Arc Capital and Caspian, to fund expansion plans. The company, set up in 2015, operates full-stack, broadline product range across multiple channels and categories like fresh produce, staples and dairy. "WayCool Foods aims to use the funds to further scale up operations across south and western parts of the country...," a press release said here. "We are committed to open and operate three locations after our last institutional fund raise - we are currently operating in 13 locations. WayCool takes pride in the fact that over 70 per cent of our tonnage is sourced directly from the farmers," co-founder of the company, Sanjay Dasari said. Veda Corporate Advisors were the exclusive financial advisor to WayCool for the fundraising, it said.
Euro zone trade surplus declines in Nov, energy imports rise
BRUSSELS (Reuters) - The euro zone's trade surplus with the rest of the world declined in November from a year earlier, data released on Tuesday showed, due to a sharp rise of imports.
Global Markets: China hopes boost stocks, pound near two-month top before Brexit vote
LONDON (Reuters) - Chinese stimulus hopes lifted world stocks on Tuesday, while Britain's pound huddled near a two-month high as the UK's parliament readied for a "meaningful" vote on Prime Minister Theresa May's unpopular Brexit plans.
Oil prices rise on supply cuts, but global slowdown looms
LONDON (Reuters) - Oil prices rose on Tuesday amid supply cuts by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand.
Investors increasingly concerned about company debt: BAML survey
LONDON (Reuters) - Investors' fears about company leverage hit a ten-year high, Bank of America Merrill Lynch's January fund manager survey found on Tuesday, also highlighting their continued concern about a global trade war.
German economy posts weakest growth in five years
BERLIN (Reuters) - The German economy grew by 1.5 percent in 2018, the weakest rate in five years and markedly slower than the previous year, preliminary data showed on Tuesday, in a sign that exporters in Europe's largest economy are being hit by trade tensions.
Nokia to slash 350 jobs in Finland as part of cost cuts
HELSINKI (Reuters) - Finnish telecom equipment maker Nokia said on Tuesday it was going to cut 350 jobs in Finland as part of ongoing plans to find savings worth 700 million euros ($800 million) by 2020.
Spot demand lifts zinc futures by 0.28 pc
Zinc prices increased by 0.28 per cent to Rs 177.15 per kg in futures trade Tuesday, tracking a firm trend at the physical markets on the back of pick up in demand. At the Multi Commodity Exchange, zinc for February was trading higher by 50 paise, or 0.28 per cent, at Rs 177.15 per kg with a business turnover of 946 lots. Marketmen said widening of positions by participants following pick up in demand from consuming industries kept zinc prices higher.
Quick Wrap: Nifty IT Index rises 3.06%, NIFTY jumps 1.39%
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Essel Propack receives part repayment of outstanding dues of ICD of Rs 96.06 cr
Essel and Sprit had entered into Inter Corporate Deposit agreement in relation to dues of Rs. 96.07 crore payable to Essel. Sprit was related party as per applicable accounting standard.
China signals more stimulus as economic slowdown deepens
BEIJING (Reuters) - China on Tuesday signalled more stimulus measures in the near term as a tariff war with the United States took a heavy toll on its trade sector and raised the risk of a sharper economic slowdown.
Nifty, Sensex end higher; Infosys, Reliance Industries lead
(Reuters) - Indian shares ended higher on Tuesday, with the benchmark BSE Sensex marking its best closing level in nearly a month, after retail inflation rate fell to an 18-month low, raising optimism that the central bank could ease monetary policy next month.