Page 1629 - Business Finance
Aluminium futures slide 0.68% on muted demand
Aluminium prices softened by 0.68 per cent to Rs 139.10 per kg in futures trading Thursday as speculators cut bets amid subdued demand at domestic spot market. At the Multi Commodity Exchange, aluminium for delivery in December eased by 95 paise, or 0.68 per cent, to Rs 139.10 per kg in a business turnover of 3,989 lots. Similarly, the metal for delivery in January was trading lower by Rs 1.20, or 0.85 per cent, to Rs 139.60 per kg in 496 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices.
Sonata Software buys Australian firm Data Systems
Leading Indian IT services provider Sonata Software on Thursday said it acquired Australia-based Scalable Data Systems for an unspecified amount to hardsell Microsoft Dynamics 365 product.
Eveready Industries India to sell its land in Chennai
For consideration of Rs 100 cr
Board of Allahabad Bank approves raising equity capital up to Rs 3054 crore
At meeting held on 06 December 2018
Sensex drops 500 points, Nifty at 10,623
The S&P BSE Sensex dropped over 500 points during the afternoon session of the trade on Thursday.
Muthoot Finance Ltd leads losers in 'A' group
Navkar Corporation Ltd, Sharda Cropchem Ltd, NCC Ltd and South Indian Bank Ltd are among the other losers in the BSE's 'A' group today, 06 December 2018.
Edelweiss Financial Services corrects on profit booking
Edelweiss Financial Services fell 3.52% to Rs 186.15 at 14:40 IST on BSE on profit booking after a recent rally.
Board of Alembic Pharmaceuticals approves private placement of NCDs up to Rs 500 crore
At meeting held on 06 December 2018
RCap sets up search panel to find CEO
Reliance Capital Thursday said it has formed a panel to appoint the chief executive officer (CEO). "The directors of the company have constituted a search and selection committee for the appointment of chief executive officer of the company," Reliance Capital said in a regulatory filing. The committee comprises independent directors Rajendra Chitale and V N Kaul, Vice-Chairman Amitabh Jhunjhunwala and Exective Director Anmol Ambani. The post of the CEO remains vacant since Sam Ghosh quit the company in March 2017. Stock of the company was trading 3.53 per cent down at Rs 211.60 on the BSE.
Punj Lloyd Ltd leads losers in 'B' group
Spice Mobility Ltd, Landmark Property Development Company Ltd, Winsome Textile Industries Ltd and Capital Trust Ltd are among the other losers in the BSE's 'B' group today, 06 December 2018.
Volumes spurt at Galaxy Surfactants Ltd counter
Galaxy Surfactants Ltd notched up volume of 1.41 lakh shares by 14:14 IST on NSE, a 12.67 fold spurt over two-week average daily volume of 11158 shares
Shriram Transport Finance Company to raise Rs 150 crore
Through private placement of NCDs
ECL Finance announces public issue of NCDs aggregating Rs 1000 cr
The NCDs offer an effective yield of 10.20% p.a. for 39 months tenure, 10.42% p.a. for 60 months tenure and 10.64% for 120 months tenure.
Crude oil futures slide 1.79% on cautious cues, all eyes on OPEC meet
Crude oil softened by 1.79 per cent to Rs 3,734 per barrel in futures trade Thursday as speculators trimmed positions amid weak global cues. Besides, profit-booking at current levels weighed on crude oil prices. At the Multi Commodity Exchange, crude oil for delivery in December declined by Rs 68, or 1.79 per cent, to Rs 3,734 per barrel in a business turnover of 20,376 lots. On similar lines, crude for delivery in February shed Rs 8, or 0.21 per cent, to Rs 3,857 per barrel in 80 lots. Analysts said trading sentiment weakened after participants took profits when oil prices fell in overseas market. Oil prices have crashed more than 30 per cent over the last two months, piling up the pressure on budgets in oil-exporting countries. OPEC and its allies are expected to agree on the terms of price-boosting output cuts on Thursday, despite pressure from US President Donald Trump to reduce the cost of crude. Globally, the US benchmark West Texas Intermediate (WTI) stood at USD 52.63, more ...
Gold declines on profit-taking, firm dollar
BENGALURU - Gold prices edged lower on Thursday in range-bound trade as investors booked profits and the dollar strengthened, while palladium fell from a record high hit in the previous session.
ADB enters an arrangement with World Bank for co-financed projects
Asian Development Bank (ADB) Thursday said it has entered into an arrangement with the World Bank to put in place a single framework that will make co-financed projects more efficient. ADB's first Alternative Procurement Arrangement (APA) with the World Bank will allow procedures on co-financed projects to follow a single procurement framework, it said in a statement. "The new arrangement allows co-financed projects to be implemented more efficiently by applying a single framework to the whole project. It will reduce transaction costs for ADB's clients," said Risa Zhijia Teng, Director General of ADB's Procurement, Portfolio, and Financial Management Department. The APA is a step further towards reducing procurement timelines in line with Strategy 2030, she said. Strategy 2030 is ADB's long-term plan to respond effectively to the Asia and Pacific region's changing needs. ADB said it is negotiating with other multilateral agencies to expand the number of co-financed projects that will .
Telecom sector brutally challenging, yet offers ample opportunities: Sundararajan
The "brutally challenging" Indian telecom market has only seen the beginning of many disruptions, yet it offers ample growth potential to not only draw massive investments but ensure profitability, Telecom Secretary Aruna Sundararajan said Thursday. Sundararajan said that USD 100 billion dollar sectoral investment enshrined in the national digital communications policy is not an over-estimate and may well turn out to be less-than-adequate in the wake of new age technologies and advent of 5G. Sundararajan said that while the Indian telecom market is "vibrant and exciting", it is also "brutally challenging". "I think we have only seen the beginning of disruption and I am sure there will be many more disruptions to come but this is a market which is big enough, has enough growth potential for us to attract those kinds of investments and yet make investments profitable" she said. Speaking at a panel discussion on 'Digital Infrastructure for Transforming India' organised by Broadband India
Gold futures up Rs 80 as participants create position
Gold prices rose by Rs 80 to Rs 31,155 per 10 gram in futures trading Thursday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 80, or 0.26 per cent, to Rs 31,155 per 10 gram, in a business turnover of 13,299 lots. Similarly, the February rates of the precious metal was up by Rs 75, or 0.24 per cent, to Rs 31,150 per 10 gram with a business volume of 13,296 lots. Analysts said raising of bets by participants, taking positive cues from global markets as dollar might decline over renewed concerns of slowdown in economic growth pushed up gold prices at futures trade here. In the international markets the gold prices were trading higher by 0.15 per cent at USD 1,244.4 5 per ounce.
Snapdeal 2.0 attracts 50,000 new sellers
Snapdeal 2.0's sharp focus on offering a selection of good-quality, yet affordably priced products has found the right connect not only with buyers but also with sellers.The rapid growth in Snapdeal's business volumes has caught the attention of manufacturers, wholesalers and retailers who specialise in the value-priced segment and who now see Snapdeal as the best fit for their merchandise and clientele.In the last 12 months, Snapdeal has added more than 50,000 new sellers, most of them focused on the value segment. A majority of these new sellers specialise in fashion, home accessories and small appliances - all large volume categories for Snapdeal.Of the 50,000 new sellers who joined within the last one year, nearly 2100 new sellers crossed Rs. 10 lakh in monthly sale within the first four months of their joining.In order to boost business for sellers, Snapdeal has executed a variety of initiatives in the last 12 months. These include providing analytical inputs regarding consumer ..
Sonata Software to acquire Australia's Scalable Data Systems
IT services firm Sonata Software Thursday said it has signed a definitive agreement to acquire Australia's Scalable Data Systems for an enterprise value of up to Australian Dollar 5.5 million (approx Rs 28 crore) subject to adjustment on account of working capital and debt. "The company, has entered into a definitive agreement...with Scalable Data Systems Pty Ltd and its shareholder to acquire 100 per cent stake in Scalable, an Australian company," Sonata Software said in a regulatory filing. Sonata Software said Scalable Data Systems is a business solutions provider in the Australian market. "Scalable Data Systems brings great value in terms of Microsoft Dynamics 365 capabilities and resources to Sonata," Sonata Software Managing Director and CEO Srikar Reddy said. "This will provide Sonata with additional intellectual property (IP), and geographical reach, along with a strong fillip to its strategy to be a global leader in the Microsoft Dynamics 365 partner ecosystem with core IPs ..