Page 1330 - Business Finance
Infibeam Avenues Ltd leads gainers in 'A' group
Gujarat Gas Ltd, Jammu and Kashmir Bank Ltd, Wipro Ltd and Prestige Estates Projects Ltd are among the other gainers in the BSE's 'A' group today, 15 January 2019.
Sensex, Nifty hit intraday high
Strong buying demand in index pivotals pushed the key benchmark indices to intraday high in early afternoon trade. At 11:15 IST, the barometer index, the S&P BSE Sensex, was up 351.34 points or 0.98% at 36,204.90. The Nifty 50 index was up 104 points or 0.97% at 10,841.60. Stocks from realty and IT sectors gained. Gains were triggered on hopes of interest rate cut by RBI after latest data revealed that retail inflation as dropped sharply in December. Positive Asian stocks also boosted sentiment.
Nifty, Sensex rise as drop in inflation raises hopes of monetary easing
(Reuters) - Indian shares rose on Tuesday, after inflation rate plummeted to an 18-month low, raising optimism that the central bank could ease monetary policy next month, as the nation faces a manufacturing slowdown and weak growth in the farm sector.
Fuel prices continue upward march, petrol at Rs 70.41/ltr in Delhi
Fuel prices were hiked for the seventh time in the New Year, adding to commuters' woes.In Delhi, petrol is being sold at Rs 70.41 per litre on Tuesday, after a hike of 28 paise. Diesel, too, witnessed a hike of 29 paise to be sold at Rs. 64.47/litre.Petrol is retailing 28 paise higher at Rs. 76.05 per litre in Mumbai and diesel at 67.49 per litre after a 31 paise hike.The rise in prices come amidst revision of global crude oil prices owing to a possible stifling of supply in the near future.The last week of 2018 saw a dip in fuel prices, which spilled over to this year. However, prices have been on the rise since January 7.
United Spirits sells Four Seasons Wines business
Diageo-owned liquor firm United Spirits (USL) Tuesday said it has executed a share purchase agreement for sale of its entire equity share capital in its subsidiary Four Seasons Wines as well as associated brands to Grover Zampa Vineyards and Quintela Assets. The company has entered an agreement for the sale of all the equity shares held by the company constituting 100 per cent of the paid up equity share capital of its wholly-owned subsidiary, Four Seasons Wines (FSWL), along with the brands, "the company said in a regulatory filing. USL said this move towards disinvestment of Four Seasons Wines is in line with USL's strategy to successfully continue to monetise its non-core assets, including subsidiaries. The company said total consideration received for this sale is Rs 31.86 crore. "As a result, FSWL will cease to be a subsidiary of USL" it added. Explaining the rationale, Diageo India Executive Director and Chief Financial Officer Sanjeev Churiwala said, "This deal brings us a step
Unsold Inventory Hits Two-year Low in Q4 2018 - ANAROCK
/ -- Significant drop from 47 months of inventory overhang in Q4 2017 NCR still constitutes 52 months' inventory overhang; Bengaluru & Hyderabad at all-time low of 17 months each Sales exceed number of units launched second year in a row Avg. property sizes across top 7 cities shrinks by 8% compared to 2017 & 19% since 2016 Despite all headwinds including the liquidity crisis in 2018, housing sales rose by 18% and new launches by 33% across the top 7 cities compared to 2017. ANAROCK Propertty Consultants' research confirms that residential inventory overhang reduced to a year-low from 47 months in Q4 2017 to 33 months in Q4 2018 across the top 7 cities. (Logo: https://mma.prnewswire.com/media/701435/ANAROCK_Logo.jpg ) The DeMo effect in late 2016 had pushed up unsold inventory to 47 months in Q4 2017 from 40 months in Q4 2016. An inventory overhang of 18-24 months signifies a fairly healthy market. "Having absorbed a lot of the impact of various structural changes, the Indian
Volumes spurt at Gujarat Gas Ltd counter
Gujarat Gas Ltd notched up volume of 1.81 lakh shares by 10:48 IST on BSE, a 37.67 fold spurt over two-week average daily volume of 4807 shares
L&T gains after winning orders
Larsen & Toubro rose 0.44% to Rs 1339.85 at 10:49 IST on BSE after the company said its wholly-owned subsidiary won two projects from Saudi Aramco.
CII confident that GST will emerge as a game-changer for the Indian economy
CII noted that the GST Council, since the introduction of the GST in July 2017, has continuously moved towards a simpler tax system. It has steadily reduced the tax rates on many items, ensuring a movement towards a 3-slab GST structure with a standard rate, a higher demerit rate and a lower rate for items consumed by the poor.
Exclusive: Bank of China offers Sri Lanka $300 million loan, option to raise to $1 billion - source
COLOMBO (Reuters) - Bank of China, the country's fourth-biggest lender by assets, has offered a loan of $300 million to Sri Lanka which can be raised to $1 billion, a source in Colombo with direct knowledge of the matter, told Reuters on Tuesday.
Tata Metaliks slips after weak Q3 outcome
Tata Metaliks fell 1.55% to Rs 627.05 at 10:27 IST on BSE after net profit fell 1.8% to Rs 39.63 crore on 11.5% rise in net sales to Rs 546.37 crore in Q3 December 2018 over Q3 December 2017.
Strong market breadth
Key indices were trading firm in morning trade after an initial upmove triggered by positive Asian stocks. At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 264.83 points or 0.74% at 36,118.39. The Nifty 50 index was up 82.90 points or 0.77% at 10,820.50
Equity indices open higher
Despite negative global cues, major Indian equity indices opened higher on Tuesday owing to the gains in the financials.
Celebrating Andhrapreneurship at StartAP Amaravati on 18 and 19 January
/ -- It is that time of the year, when an excited team comes together sending out speaker invites, curating startup pitches and welcoming a new lot (2,000+) of passionate youngsters, entrepreneurs and founders from across the state of Andhra Pradesh - to deliver a wonderful conference experience called StartAP Fest, Andhra Pradesh's flagship startup festival and Asia's fastest growing. StartAP is an initiative by Startup Oxide Biz Solutions. StartAP was founded by Siddharth Marupeddi in 2014 as a key ecosystem platform for startups in Andhra Pradesh to bring together high-impact entrepreneurs, startups, passionate youngsters and investors for building a vibrant entrepreneurial community and accelerating conversations of change. It is now enabling Asia's fastest growing entrepreneurial ecosystem. The initiative has impacted around 15,000 youngsters, 250+ Startups during the last 4 editions with the active support of Govt. of A.P. StartAP Awards which took place in May, 2018 recognised
Etihad to raise stake in cash-strapped Jet Airways: source
ABU DHABI (Reuters) - Etihad Airways plans to hike its stake in debt-laden Jet Airways, a person close to the Abu Dhabi carrier told Reuters late on Monday, further driving up shares of the Indian airline.
Rupee breaches 71 per dollar on 'chunky outflows'
MUMBAI (Reuters) - Indian rupee weakened sharply on Tuesday on "chunky outflows" with no intervention seen by the Reserve Bank of India, traders said.
Gold steady on Fed pause hopes, equity recovery
BENGALURU (Reuters) - Gold prices held steady on Tuesday, supported by market expectations of fewer interest rate hikes in the year by the U.S. Federal Reserve, while a bounce in Chinese equities stoked interest in riskier assets.
Rupee depreciates 10 paise against USD; falls below 71 mark
The rupee depreciated by 10 paise and fell below the 71 per dollar mark in opening trade Tuesday amid strengthening greenback, sustained foreign fund outflows and surging crude oil prices. At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.79 then fell further to 71.02 against the American currency, down by 10 paise over its previous closing price. In highly volatile trade, the local currency also touched a high of 70.75 per US dollar, showing a rise of 17 paise over its last close. The rupee Monday plunged 43 paise to close at nearly one-month low of 70.92 against the US dollar. Foreign funds pulled out Rs 732.46 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 527.49 crore Monday, provisional data showed. The benchmark BSE Sensex was trading with gains of 296.15 points, or 0.83 per cent to quote at 35,149.71 while the NSE Nifty was trading at 10,785.25, up 47.65 points, or 0.46 per cent. Meanwhile, brent ..
Panama Petrochem Ltd Surges 2.88%
Panama Petrochem Ltd has lost 2.62% over last one month compared to 0.94% fall in S&P BSE Energy index and 0.15% rise in the SENSEX
Wipro gains as board to mull bonus issue
Wipro rose 1.31% to Rs 317.45 at 9:21 IST on BSE after the company announced that its board will consider bonus issue of shares in its meeting on 17-18 January 2019.