Page 1598 - Business Finance
Volumes soar at Phoenix Mills Ltd counter
Phoenix Mills Ltd clocked volume of 56640 shares by 10:47 IST on BSE, a 41.35 times surge over two-week average daily volume of 1370 shares
Zensar Tech gains on being selected as IT partner by EBRD
Zensar Technologies rose 2.87% to Rs 233.25 at 10:05 IST on BSE after the company announced that it has been selected by EBRD as their partner for infrastructure and network services.
Markets slide after RBI chief quits; state election results in focus
MUMBAI (Reuters) - Indian markets plunged early on Tuesday before recovering some ground as Reserve Bank of India Governor Urjit Patel's unexpected resignation on Monday shocked investors.
Hero Electric raises Rs 160 cr from Alpha Capital Advisors
Hero Electric Tuesday said it has raised Rs 160 crore from investment management firm Alpha Capital Advisors to fund its future expansion. With this investment, the Mumbai-based firm has become a "significant minority stakeholder" in Hero Electric. "This is our first external fund raising. Till now, we had only raised funds internally. The raised capital will be utilised to set up a new plant, diversify our product portfolio and acquire new technology," Hero Electric Managing Director Naveen Munjal told PTI. The funds would also be utilised to strengthen the company's research and development capabilities to achieve certain rate of localisation, he added. When asked about the quantum of stake divestment to Alpha Capital, Munjal said, "It is more than 10 per cent but less than 25 per cent." He added that the company would look for another round of fund raising in the next 12-18 months to further support its expansion process. The company, which has transitioned its entire product ...
Government to make announcement on RBI Tuesday - ET NOW
NEW DELHI (Reuters) - Finance Secretary Ajay Narayan Jha said the government will make an announcement on the country's central bank on Tuesday, TV channel ET NOW reported, citing financial news company Cogencis.
Board of Container Corporation of India to consider bonus issue
On 20 December 2018
Hong Kong Stocks trade softer
A raft of negative factors cast a shadow on already rattled markets, including soft trade data from China and comments from White House trade adviser Peter Navarro on imposing tariffs on more Chinese imports. China reported weaker-than-expected November exports and imports on Saturday, reflecting slower global and domestic demand, with exports only rising 5.4% from a year earlier, well short of the market expectation.
China Stocks gain on bargain hunting
The U.S. and China started the latest round of trade talks late Monday with a phone call involving Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He. As per reports, the three senior officials discussed Chinese purchases of agricultural products and changes to fundamental Chinese economic policies during the phone call, said people familiar with the conversation.
Japan Nikkei touches 18-month low
Investor consternation grew following British Prime Minister Theresa May postponing a crucial parliamentary vote, in favor of seeking more assurances from the European Union ahead of a now delayed vote on her Brexit plan. Theresa May will meet European leaders and EU officials later for talks aimed at rescuing her Brexit deal. She will hold talks with Dutch PM Mark Rutte and Germany's Angela Merkel after postponing MPs' final vote on the deal. The UK PM has said she needs "further assurances" about the Northern Ireland border plan to get Commons backing. European Council President Donald Tusk insisted the EU would "not renegotiate" but said leaders would discuss how to help "facilitate UK ratification".
Australia Stocks trade mixed
Shares of healthcare issue were top gainer, with benchmark CSL rising 1.4%, Cochlear up 2.2% and ResMed up nearly 4%.
Titagarh Wagons jumps after large order win
Titagarh Wagons surged 6.09% at Rs 70.60 at 09:39 IST on BSE after the company was awarded a contract to manufacture and supply wagons to Indian Railways.
Reliance Industries Ltd Slides 2.51%, S&P BSE Energy index Drops 2%
Reliance Industries Ltd has lost 2.95% over last one month compared to 4.52% fall in S&P BSE Energy index and 1.97% drop in the SENSEX
Sasken Technologies Ltd Spikes 1.19%
Sasken Technologies Ltd has lost 1.32% over last one month compared to 0.35% gain in S&P BSE IT Sector index and 1.4% drop in the SENSEX
Rupee plunges 110 paise to 72.42 per US dollar in early trade
The Indian rupee Tuesday plunged by a significant 110 paise in early trade as domestic equities saw heavy sell-off amid crucial state election results and the unexpected resignation of Reserve Bank Governor Urjit Patel. Patel, who cited "personal reasons" for the decision that was effective immediately is the first governor since 1990, to step down before his term ends. At the Interbank Foreign Exchange, the rupee opened weak at 72.42, showing a sharp plunge of 110 paise over its previous closing price. On Monday, the Indian rupee tumbled 50 paise to close at 71.32 against the US dollar. Besides, Patel's resignation, analysts attributed the fall in the domestic currency as a knee-jerk reaction to early state election trends that suggest a win for the opposition party in key states, ahead of general election of 2019. Forex traders said worries on the global trade war front, sharp sell-off in domestic equity market and rising crude prices also weighed on the domestic currency. The ...
Sensex drops 500 points, Nifty below 10,400 mark
The S&P BSE Sensex slid around 500 points on Tuesday morning after the Congress party started to take the lead in the Assembly elections in three key states of Rajasthan, Madhya Pradesh and Chhattisgarh.
Rupee, bonds slump after RBI governor's resignation
MUMBAI (Reuters) - India's rupee and bonds plunged following Reserve Bank of India Governor Urjit Patel's unexpected resignation after market hours on Monday shocked investors.
Oil prices rise on Libyan export interruption, but markets remain weak
SINGAPORE (Reuters) - Oil prices edged up on Tuesday after Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group.
Sensex opens 450 points down after RBI chief's resignation shocker
The key stock exchanges had a gap-down opening on Tuesday, with the S&P BSE Sensex losing over 450 points as investors were spooked on the surprise resignation of RBI Governor Urjit Patel on Monday.
Indices trade with steep losses
Key benchmark indices were trading with steep losses in early trade. At 9:17 IST, the barometer index, the S&P BSE Sensex, was down 305.28 points or 0.87% at 34,654.44. The Nifty 50 index was down 86.45 points or 0.82% at 10,402. The trading sentiment was dented after the Reserve Bank of India Governor, Urjit R. Patel, resigned from his post last evening citing personal reasons.
Italy's Eni makes new oil discovery off Angola
Rome, Dec 11 (IANS/AKI) Italian energy giant Eni announced a new oil discovery off the coast of Angola which contains 170-200 million barrels of light oil.