Page 1561 - Business Finance
Shares trade with small losses
The market was trading with small losses in mid-afternoon trade amid negative global cues. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 15.93 points or 0.04% at 35,913.71. The Nifty 50 index was down 8.65 points or 0.08% at 10,782.90. The Sensex was hovering below the psychological 36,000 mark after moving above and below that level in intraday trade. The Nifty was trading below 10,800 mark after crossing that level in early trade.
Indospace raises USD 1.2 bn to develop, buy logistic parks
Everstone-backed IndoSpace Friday said it has raised USD 1.2 billion from investors through its new fund to develop and acquire industrial and logistics parks. IndoSpace is one of the largest provider of modern industrial and logistics real estate in India and has taken total commitment to India to above USD 3.2 billion. It is promoted by Everstone Group, GLP and Realterm. IndoSpace said in a statement that it held the final close on IndoSpace Logistic Parks III (ILP III) and the offering was significantly oversubscribed on the back of strong investor demand. "USD 580 million of total equity has been committed to ILP III which, post leverage will create a corpus of more than USD 1.2 billion to develop and acquire industrial and logistics-related real estate investments in India," it added. IndoSpace would utilise the fund to further strengthen its market leadership position. Leading global institutional investors have invested in ILP III. In September 2018, GLP established a strategic
India's first private UAV factory comes up in Hyderabad
India' first private sector unit for manufacturing unmanned aerial vehicles (UAVs) opened at Adani Aerospace Park here on Friday.
Airtel, Vodafone Idea gain up to 10 pc after TDSAT rejects predatory pricing rules
Shares of Bharti Airtel and Vodafone Idea Friday surged up to 10 per cent a day after the telecom tribunal TDSAT struck down Trai's new rules on predatory pricing saying they lacked required transparency. Shares of Bharti Airtel increased 9.97 per cent to Rs 332.9, while Vodafone Idea gained 8.02 per cent to Rs 37.7 on the BSE, during intra-day trade. Similar movement was seen on the NSE, wherein Bharti Airtel climbed 9.99 per cent to Rs 333.4, and Vodafone Idea advanced 8.02 per cent to Rs 37.7. On Thursday, the telecom tribunal set aside sectoral regulator Trai's new norms on predatory pricing for lack of transparency in the guidelines over determining market share and rates of services. The order provides much-needed relief to operators such as Bharti Airtel and Vodafone Idea who had alleged that the rules were tailored for a new entrant.
SBI Holdings says it sold all allotted shares in soon-to-list SoftBank telco
TOKYO (Reuters) - SBI Holdings said on Friday it has sold all its allotted shares in SoftBank Group Corp's soon-to-list domestic telco, underscoring strong retail demand for the shares.
China's consumers, factories take a beating as economic gloom deepens
BEIJING (Reuters) - China's November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as the economy lost further momentum, heaping pressure on Beijing to defuse its trade dispute with the United States.
Thyssenkrupp proposes former Bayer finance chief as CFO
FRANKFURT (Reuters) - Thyssenkrupp said on Friday it would propose former Bayer finance chief Johannes Dietsch as its chief financial officer, continuing to fill numerous vacant jobs that have been left unfilled following months of crisis.
Infosys forms JV with Hitachi, Panasonic in Japan
Global software major Infosys on Friday said it has formed a joint venture (JV) with Hitachi Ltd, Panasonic Corp and Pasona Inc to enhance its presence in Japan.
Indices hover in a small range
Key indices were trading in a small range with positive bias in afternoon trade amid divergent trend in index pivotals. At 13:21 IST, the barometer index, the S&P BSE Sensex, was up 33.18 points or 0.09% at 35,962.82. The Nifty 50 index was up 10.95 points or 0.1% at 10,802.50. The Sensex was hovering below the psychological 36,000 mark after moving above and below that level in intraday trade.
Asian LNG prices snap three-week losing streak as winter kicks in
SINGAPORE (Reuters) - Asian spot prices for liquefied natural gas (LNG) snapped a three-week losing streak to end higher this week, with the onset of winter expected to boost demand for natural gas for heating.
Sensex, Nifty flat, financial stocks in red
Sensex and Nifty traded flat during the afternoon session on Friday, tracking negative Asian markets.
Oil prices fall on China economy worries, but output cuts support
SINGAPORE (Reuters) - Oil prices dipped on Friday amid concerns over slowing economic growth in China and as investors cashed in on gains of over 2 percent from the previous session, although supply cuts agreed last week by major crude producers offered some support.
Ferns N Petals Launches FNP Experiences - A New Age Experiential Gifting Venture
/ -- Ferns N Petals, a renowned name in the field of gifting announced the launch of FNP Experiences, a new age experiential gifting service that focuses on gifting experiences than traditional material items like flowers, cakes, etc. The company has mastered the art of material gifting and is now ready to provide unforgettable experiences to its customers. Through these exclusive services, they strive hard to be the 'go to' partner for experiences that the gift receivers can cherish memories for a long time. (Logo: https://mma.prnewswire.com/media/534936/Ferns_N_Petals_Logo.jpg ) The company's latest launch of experiential gifting offers lavish dining experiences to start with in Delhi NCR under FNP experiences. This service would be extended to rest of the cities in 2019. Through the extravagant dining experience gifts, couples can avail the facility of celebrating birthdays, anniversaries, romantic candlelight dinner dates in a 5-star hotel, relish a 6-course meal at an airplane ..
Indian Oil Corporation Ltd spurts more than 3%
Indian Oil Corporation Ltd is quoting at Rs 141.65, up 3.09% on the day as on 12:49 IST on the NSE. The stock is down 31.43% in last one year as compared to a 4.56% spurt in NIFTY and a 1.31% spurt in the Nifty Energy index.
Moschip Semiconductor Technology allots 22.22 lakh equity shares
On conversion of warrants
Indian Energy Exchange climbs over 9% as board to consider share buyback proposal
Shares of Indian Energy Exchange Friday surged over 9 per cent after the company said its board will meet next week to consider the proposal to buy back the firm's equity shares. After opening on a positive note on the BSE, the scrip further advanced 9.16 per cent to Rs 171, highest during the day trade. At 1258 hrs, the scrip was trading 4.31 per cent higher at Rs 163.40. On the NSE, the share gained 5.03 per cent to touch the intra-day high of Rs 164.8. "The meeting of board of directors of the company will be held on, Thursday, December 20, 2018 at New Delhi, inter alia to consider the proposal for buyback of the fully paid-up equity shares of the company", the company said in a regulatory filing Thursday.
OBOPAY launches new generation pre-payment instrument for enterprise customers
In an effort to empower enterprises with a comprehensive disbursement and payments solution, OBOPAY, the global financial technology company, today announced the launch of a new generation pre-payment instrument in partnership with Federal Bank and Mastercard.Enterprises often have to deal with legacy systems for disbursements and payments to employees and ecosystem partners. At the same time, users have to use different modes for different payments like, bank accounts for using salary, digital wallets for payments, food coupons, insurance cards for insurance claim, etc. All these existing solutions are restrictive in terms of their usage and there are gaps existing in these systems.The OBOPAY card is built as a one-stop solution that addresses all needs of the enterprise and users seamlessly and can be used at over three million Mastercard outlets in India.The highlights of the card include unique innovations such as the multi-wallet facility that allows dedicated payments and ...
Razorpay launches business banking and lending, targets annualised disbursal rate of USD 100 Mn by 2019
Razorpay, India's first converged payment solutions company, marched towards diversifying its product offering for banking services and lending.Progressing in the journey that started a year back with Razorpay 2.0 of developing solutions beyond payment acceptance, the company today announced the launch of three new financial products and an exclusive community for Indian start-ups to thrive.Razorpay X (Business Banking), Razorpay Capital and Razorpay Flash Checkout along with The X Club are the new additions to the existing Razorpay 2.0 product suite of payment gateway, subscriptions, disbursements, B2B collections and GST enabled invoices. The company made this announcement at FTX, its flagship conference that brought together some of the sharpest minds in the fintech ecosystem.Last year, while around 4% of the country's GDP was derived from digital products and services using digital technologies, it is estimated that within the next four years, nearly 60% of India's GDP will have a
Vijaya Bank up for third straight session
Vijaya Bank is quoting at Rs 44.35, up 1.95% on the day as on 12:49 IST on the NSE. The stock is down 35.68% in last one year as compared to a 4.56% slide in NIFTY and a 20.3% slide in the Nifty PSU Bank index.
Bharat Petroleum Corporation Ltd gains for third straight session
Bharat Petroleum Corporation Ltd is quoting at Rs 341.75, up 2.05% on the day as on 12:49 IST on the NSE. The stock is down 34.66% in last one year as compared to a 4.56% jump in NIFTY and a 1.31% jump in the Nifty Energy index.