Page 1588 - Business Finance

Oil prices rise on Asian stock rally, OPEC-led cuts

SINGAPORE (Reuters) - Oil prices climbed by around 1 percent on Wednesday amid a stock market rebound and on expectations that an OPEC-led output cut for 2019 would stabilise the supply-demand balance.

Godrej Hosts Agri-Conclave - 'Shaping the Future of Indian Agriculture'

/ -- - To Highlight the Role of Corporates and Civil Society in Doubling Farmer Income Godrej Group, a diversified conglomerate, today, hosted an agri-conclave focusing on '#FarmerNomics - Shaping the Future of Indian Agriculture'. In the run-up to Kisan Diwas (23 December), the aim of the conclave was to focus on the role of allied stakeholders, such as corporates, civil society, and academia, in doubling farmer's income. (Photo: https://mma.prnewswire.com/media/797254/Adi_Godrej_FarmerNomics_Conclave.jpg ) Thought leaders from Corporates, Non-Profit Organisations,Academiaand Media came together to discuss agri-interventions that will empower farmers to significantly improve household income and also explore how the sector can be made more attractive for women and youth. In addition, they also discussed the role of millets and protein sources from both a nutrition and livelihood standpoint. (Watch the video here) Speaking on the occasion, Mr Nadir Godrej, Chairman, Godrej Agrovet ...

Indiabulls Ventures climbs 9 pc in early trade after settling case with Sebi

Shares of Indiabulls Ventures Wednesday soared nearly 9 per cent after its promoter Sameer Gehlaut and five other promoter entities settled a case with market regulator Sebi. On Tuesday Gehlaut and five other promoter entities settled a Sebi probe into the alleged violation of 'takeover regulations' after paying Rs 48 lakh towards settlement fee. After a positive opening on BSE, the scrip further advanced by 8.94 per cent to hit a high of Rs 369 in the morning trade. The stock followed a similar movement on NSE as well, where it rose by 8.93 per cent to Rs 368.8. The markets regulator had initiated adjudication proceedings against these promoter entities in January this year for alleged violations of provisions of SAST (Substantial Acquisition of Shares and Takeovers) norms in the matter of Indiabulls Ventures. However, Gehlaut, Orthia Properties, Orthia Constructions, Zelkova Builders, Innus Properties and Innus Developers approached the regulator with a plea to settle the matter ...

GCR Takes Next Steps to Offer its Digital Transformation IoT & Networking Infrastructure Solution Through Large Alliance Partners

/ -- Global Channel Resources (GCR India), a Digital Transformation multi-vendor Partners Platform, having global operations in 12 countries, takes its next step to offer Digital Transformation solutions through Large Alliance partners. Its e-marketplace and cloud service Delivery platform offers smart SaaS connected IoT and Networking & Infrastructure products, which enable partners to offer these solutions to their end-customers. Majority of these IoT solutions are Saas based and are offered on an OPEX model, saving large capital investments. (Logo: https://mma.prnewswire.com/media/727606/GCR_Logo.jpg ) "GCR's cognitive multivendor e-marketplace enables to strengthen alliances with leading technology and integration partners. A strong alliance network creates a great business value, reduces operational risk and accelerates go-to-market processes for all stakeholders. GCR's Services platform enables partners to further increase their revenue growth, expand markets, geographical .

Witnessing double-digit growth in India for past 3 years: Oracle

Cloud major Oracle, which is seeing high demand in the Banking, Financial Services and Insurance (BFSI), telecom and manufacturing sectors in India, has witnessed double-digit growth in the country for the past three years, a top company executive has said.

Ashok Leyland, Israel-based ELBIT Systems sign MoU

: Hinduja Group flagship Ashok Leyland Wednesday said it has signed a memorandum of understanding with Israel-based ELBIT Systems engaged in manufacture of land and artillery systems and platforms. As per the agreement, Ashok Leyland would provide High Mobility Vehicles (HMVs) for mounting the artillery guns and systems, supplied by ELBIT Systems to global OEMs (original equipment manufacturers). "The integrated systems are targeted for worldwide export markets," city-based Ashok Leyland said in a statement here. Ashok Leyland has expertise in design and manufacture of logistic vehicles, combat support high mobility vehicles and armoured vehicles for the defence forces. "Ashok Leyland is proud to be associated with ELBIT Systems and we are certain this partnership will expand our reach globally," company Managing Director, Vinod K Dasari said. "This step is also in line with our strategy of increasing contribution from our defence business which will help us de-risk our

Volumes spurt at Vardhman Textiles Ltd counter

Vardhman Textiles Ltd notched up volume of 7308 shares by 10:48 IST on BSE, a 19.77 fold spurt over two-week average daily volume of 370 shares

Stocks, bonds rally on quick appointment of new RBI governor, but rupee weak

MUMBAI (Reuters) - Indian stocks and bonds rallied on Wednesday after the government moved quickly to calm markets and appoint a new central bank governor whose predecessor quit after a months-long tussle over policy.

Gold holds firm but trades at discount to palladium

BENGALURU (Reuters) - Gold prices were firm on Wednesday, supported by expectations of fewer rate hikes by the U.S. Federal Reserve next year, while palladium traded at a premium to the yellow metal.

Ashok Leyland inks MoU with Israel's Elbit Systems for high mobility vehicles

Hinduja Group firm Ashok Leyland Wednesday said it has signed a memorandum of understanding (MoU) with Israel's Elbit Systems for high mobility vehicles. "As part of this agreement, Ashok Leyland will provide high mobility vehicles (HMV) for mounting Elbit Systems' artillery guns and systems. The integrated systems are targeted for worldwide export markets," Ashok Leyland said in a regulatory filing. Ashok Leyland MD Vinod K Dasari said this partnership will expand the company's reach globally. "It underlines our capabilities of making and designing in lndia, for the world. This step is also in line with our strategy of increasing contribution from our defence business which will help us de-risk our overall business," he said. Elbit Systems, is engaged in a range of defense areas including land systems, artillery systems and platforms, howitzers, mortars and ammunition. Shares of Ashok Leyland were trading 2.58 per cent higher at Rs 105.55 apiece on BSE.

Global Markets: Stocks cheered by Trump trade talk; sterling plagued by politics

SYDNEY (Reuters) - Asian stock markets rallied on Wednesday as U.S. President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with the risk of an imminent party coup against British Prime Minister Theresa May.

ADB retains Indian growth forecast at 7.3% for FY19

Asian Development Bank Wednesday said it has retained its India growth forecast at 7.3 per cent for current fiscal and 7.6 per cent in the following financial year. India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output, ADB said in its Asian Development Bank Outlook Supplement. "India saw GDP growth moderate to 7.1 per cent in Q2 of FY2018 (ending 31 March 2019) from 8.2 per cent in Q1, for 7.6 per cent growth in the first half," ADB said. The slowdown came mainly from weak food prices, dampening rural consumption, higher oil prices delivering a negative shock in the terms of trade, and rising costs for raw materials. "Nonetheless, growth forecasts of 7.3 per cent for 2018-19 and 7.6 per cent for 2019-20 are retained from the update despite some downside risks," ADB said in the supplement.

Zydus Wellness sweetens as CCI clears Heinz India acquisition

Zydus Wellness rose 1.5% to Rs 1,323.55 at 10:09 IST on BSE after the company announced that the Competition Commission of India has granted approval for acquisition of Heinz India jointly with Cadila Healthcare.

JSW Steel announced production figures for November 2018

Crude steel production at 13.90 lakh tonnes in November 2018

Rupee falls 32 paise to 72.17 against US dollar in early trade

The Indian rupee Wednesday plunged 32 paise to 72.17 per US dollar in early trade on the forex market after the appointment of former bureaucrat Shaktikanta Das as the new governor of the Reserve Bank of India. Das Tuesday was named the new governor of the Reserve Bank of India after Urjit Patel abruptly resigned amid a face-off with the government over issues related to governance and autonomy of the central bank. At the Interbank Foreign Exchange, the rupee opened weak at 72.10 against the US dollar, then depreciated further to 72.17, showing a decline of 32 paise over its previous closing. On Tuesday the Indian rupee had plunged 53 paise to 71.85 per US dollar. Forex traders said factors such as significant foreign fund outflows and rising crude oil prices also weighed on the domestic currency. Foreign funds sold shares worth Rs 2,421.06 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 2,255.68 crore. The global benchmark .

Hong Kong Stocks trade up on hopes for easing U.S.-China dispute

The risk appetite buying underpinned after a reports that China is moving to cut import tariffs on American-made cars from 40% to 15%, and news that Huawei chief financial officer Meng Wanzhou, who faces extradition to the US, was granted bail in Canada.. That report came after Chinese Vice Premier Liu He exchanged views on the next stage of trade talks with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. U.S. President Donald Trump said in an interview with reporters that talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

China Market extends gain on U.S.-China trade optimism

The risk appetite buying underpinned after a reports that China is moving to cut import tariffs on American-made cars from 40% to 15%, and news that Huawei chief financial officer Meng Wanzhou, who faces extradition to the US, was granted bail in Canada.. That report came after Chinese Vice Premier Liu He exchanged views on the next stage of trade talks with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. U.S. President Donald Trump said in an interview with reporters that talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

Japan Nikkei rebounds on signs of progress towards trade truce

The risk appetite buying underpinned after a reports that China is moving to cut import tariffs on American-made cars from 40% to 15%, and news that Huawei chief financial officer Meng Wanzhou, who faces extradition to the US, was granted bail in Canada.. That report came after Chinese Vice Premier Liu He exchanged views on the next stage of trade talks with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. U.S. President Donald Trump said in an interview with reporters that talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

Australia Stocks gain on Sino-US trade hopes

The risk appetite buying underpinned after a reports that China is moving to cut import tariffs on American-made cars from 40% to 15%, and news that Huawei chief financial officer Meng Wanzhou, who faces extradition to the US, was granted bail in Canada.. That report came after Chinese Vice Premier Liu He exchanged views on the next stage of trade talks with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. U.S. President Donald Trump said in an interview with reporters that talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

Reliance Communications Ltd Spikes 4.69%, S&P BSE Telecom index Rises 1.35%

Reliance Communications Ltd has added 15.93% over last one month compared to 3.89% fall in S&P BSE Telecom index and 1.35% rise in the SENSEX