Page 1341 - Business Finance
Gold rises on U.S. Fed pause expectation, equity pullback
BENGALURU (Reuters) - Gold prices rose on Monday as the dollar fell on expectations that the U.S. Federal Reserve will not raise rates this year and as Asian stocks tumbled after lacklustre China data pointed to a slowdown in the world's second-largest economy.
Castor seed prices up by Rs 64 on firm bets
Castor seed prices rose by Rs 64 to Rs 5,324 per quintal in futures trade Monday after investors widened their bets amid firm trends. Apart from rising demand from consuming industries, shortage of stocks in the spot markets mainly led to the rise in castor seed futures, marketmen said. At the National Commodity and Derivatives Exchange, castor seed for February was trading higher by Rs 64, or 1.22 per cent, to Rs 5,324 per quintal. Castor seed for March surged by Rs 66, or 1.24 per cent, to Rs 5,390 per quintal, having an open interest of 3,200 lots.
Silver futures up 0.09% on global cues
Silver futures traded higher by 0.09 per cent at Rs 39,370 per kg Monday after speculators raised bets driven by a firm trend in the domestic market. Silver for delivery in March traded higher by Rs 34, or 0.09 per cent, at Rs 39,370 per kg in a business turnover of 17,268 lots at the Multi Commodity Exchange. Similarly, the white metal to be delivered in May rose by Rs 37, or 0.09 per cent, to Rs 39,939 per kg in 2,228 lots. Analysts said widening of positions by traders, in sync with a firm trend in domestic markets for precious metals, influenced silver prices at futures trade. In the international market, silver, however traded lower at USD 15.56 an ounce in Singapore Monday.
Emami Ltd spurts 2.39%
Emami Ltd is quoting at Rs 443.4, up 2.39% on the day as on 12:54 IST on the NSE. The stock is down 31.39% in last one year as compared to a 0.35% spurt in NIFTY and a 12.42% spurt in the Nifty FMCG index.
JD Sports sees FY profit at higher end of market view
(Reuters) - JD Sports Fashion Plc said on Monday it expected full-year headline profit at the upper end of market expectations, as Britain's biggest sportswear retailer did not cut prices for products and maintained its margins.
Leading Global Supplier Enters Fast Growing Market for E-three Wheelers
/ -- New Technology Boosts Efficiency and Durability of E-motors for Light Electric Vehicles SEG Automotive to showcase its new efficient synchronous motor for e-rickshaw at SIAT expo Increased system efficiency leading to reduced total cost of ownership and enhanced vehicle battery life Technology developed in India, together with German R&D The electric vehicle market is gaining momentum across the globe driven mainly by environmental concerns, but the shift will be a gradual one due to issues like range, production costs, charging infrastructure and a fossil fuel heavy energy mix. India, however, is right in the middle of a transformation when it comes to three wheelers: over 1 million e-rickshaws are already on the road and providing efficient last mile transport free of emissions. SEG Automotive is now entering this fast growing market with e-motor, setting new standards in terms of efficiency and durability. The new efficient synchronous motor, co-developed between ...
Crude oil futures decline on weak trend overseas
Crude oil futures dropped by Rs 15 to Rs 3,650 per barrel Monday as speculators off-loaded bets amid weak trend overseas. Marketmen said trading sentiment was dampened in futures trade here after oil prices retreated in the global market due to ample stocks. Besides, profit-booking by participants weighed, they added. At the Multi Commodity Exchange, crude for delivery in February was trading down by Rs 15, or 0.41 per cent, to Rs 3,650 per barrel in 1,955 lots. Crude for March delivery fell by Rs 28, or 0.75 per cent, to Rs 3,695 per barrel in a volume of 77 lots. West Texas Intermediate (WTI) crude oil eased 1.45 per cent to USD 50.84 a barrel while global benchmark Brent crude was down 1.29 per cent at USD 59.70.
Weak market breadth
Stocks staged a mild recovery after hitting fresh intraday low in early afternoon trade. At 12:19 IST, the barometer index, the S&P BSE Sensex, was down 282.07 points or 0.78% at 35,727.77. The Nifty 50 index was down 91.80 points or 0.85% at 10,703.15. Capital goods stocks edged lower. Sentiment was impacted by weak IIP data and negative Asian stocks.
India's December wholesale inflation eases to 3.80%
India's annual rate of inflation based on wholesale prices eased to 3.80 per cent in December 2018 from 4.64 per cent in November, official data showed here on Monday.
Avenue Supermarts shares tumble nearly 10% post Q3 earnings
Shares of Avenue Supermarts, which runs the D-Mart supermarket chain, slumped nearly 10 per cent Monday after its December 2018 quarter earnings failed to cheer investors. The scrip cracked 9.48 per cent to Rs 1,420.20 on BSE. On NSE, shares of the company tumbled 9.90 per cent to Rs 1,416. Avenue Supermarts Saturday posted 2.1 per cent jump in its net profit to Rs 257 crore for the December 2018 quarter. The company had reported a net profit of Rs 252 crore in the corresponding quarter a year ago, it said in a BSE filing. According to JM Financial Institutional Securities, 3QFY19 turned out to be another disappointing quarter for DMart. While the gross margin impact of its now-known strategy of driving higher throughout its stores by lowering prices across categories has been built into forecasts, the disappointment this time round was led by a surprisingly sharp surge in other expenses' (45 per cent), it said. "DMart's other expenses have rarely grown at a significantly faster clip
Intellect Design Arena launches Capital Cube, a treasury and ALM solution
The solution addresses the strategic and risk management requirements of a bank's treasury across the front, mid and back office, aiding the treasurer to safeguard the bank's financial assets and effectively manage its liabilities. The solution provides updated information on liquidity, funding and exposures, assuring solvency, protecting margins by accurate view of asset and liability positions, effective hedging, performance attributions and providing greater visibility and control to treasury.
Nila Spaces Ltd leads gainers in 'B' group
Ruby Mills Ltd, B.L.Kashyap & Sons Ltd, Fineotex Chemical Ltd and Almondz Global Securities Ltd are among the other gainers in the BSE's 'B' group today, 14 January 2019.
Gold futures up Rs 167 on positive global cues
Gold prices rose by Rs 167 to Rs 32,095 per 10 gram in futures trade Monday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 167, or 0.52 per cent, to Rs 32,095 per 10 gram, in a business turnover of 12,675 lots. Similarly, the April rates of the precious metal edged higher by Rs 182, or 0.57 per cent, to Rs 32,220 per 10 gram with a business volume of 6,265 lots. Analysts said raising of bets by participants, taking positive cues from global market, as weakness in dollar raised demand for the precious metal as a safe haven, mainly pushed up gold prices at futures trade here. Globally, gold rose 0.11 per cent to trade at USD 1,228 an ounce in Singapore.
WPI inflation at 8-month low of 3.80 pc in Dec on softening fuel, food prices
Inflation based on wholesale prices fell to a 8-month low of 3.80 per cent in December, 2018, on softening prices of fuel and some food items. The Wholesale Price Index (WPI)-based inflation stood at 4.64 per cent in November, 2018, and 3.58 per cent in December 2017. According to the government data released Monday, deflation in food articles stood at 0.07 per cent in December, against 3.31 per cent in November. Vegetables, too, saw deflation at 17.55 per cent in December, compared to 26.98 per cent in the previous month. Inflation in the 'fuel and power' basket in December slumped to 8.38 per cent, nearly half of 16.28 per cent in November. This was on account of lowering of prices of petrol and diesel through December. Individually, in petrol and diesel inflation was 1.57 per cent and 8.61 per cent, respectively, and for liquified petroleum gas (LPG) it was 6.87 per cent during December. Among food articles, potato prices became cheaper substantially with inflation at 48.68 per ...
Infosys shares gain nearly 4 pc on share buyback
Shares of Infosys Monday rose by nearly 4 per cent after the company approved a Rs 8,260-crore share buyback and also raised its revenue growth forecast. After a positive opening, shares of the company further gained 3.70 per cent to Rs 709 on BSE. At NSE, shares of the company jumped 3.90 per cent to Rs 710.20. India's second largest IT firm Infosys Friday reported a 30 per cent drop in its 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 growth forecast for the fiscal year ending March 2019 to 8.5-9 per cent in constant currency terms, from 6-8 per cent previously. Revenue from operations rose 20.3 per cent to Rs 21,400 crore. Infosys said it will buy back 10.32 crore ...
Global OLED TV market growing twofold yearly since 2015: Report
The global market for organic light-emitting diode (OLED) TVs has surged twofold every year since 2015, with growth being fuelled by LG Electronics Inc., an international industry tracker has said.
China's auto market contracts in 2018: industry association
BEIJING/SHANGHAI (Reuters) - China's automotive market contracted in 2018, the country's top auto industry association said on Monday, marking the first time sales have hit reverse since the 1990s.
Gold rises on expectations of Fed pause, equities pullback
BENGALURU (Reuters) - Gold prices rose on Monday as the dollar fell on expectations that the U.S. Federal Reserve will not raise rates this year and as Asian stocks tumbled after lacklustre China data pointed to a slowdown in the world's second-largest economy.
Strides Pharma Science Ltd leads gainers in 'A' group
Symphony Ltd, Yes Bank Ltd, Jammu and Kashmir Bank Ltd and Vakrangee Ltd are among the other gainers in the BSE's 'A' group today, 14 January 2019.
Global Markets: Asia shares, US stock futures hit as China's export slump jolts investors
SYDNEY (Reuters) - Asian shares and U.S. stock futures skidded on Monday after a shock contraction in Chinese exports pointed to deepening cracks in the world's second-biggest economy and raised fears of a sharper slowdown in global growth and corporate profits.