Page 1630 - Business Finance
Dish TV India Ltd drops for fifth straight session
The stock is quoting at Rs 34.25, down 2.84% on the day as on 13:19 IST on the NSE. Dish TV India Ltd tumbled 58.73% in last one year as compared to a 5.2% rally in NIFTY and a 24.9% fall in the Nifty Media index.
ITC Ltd drops for fifth straight session
The stock is quoting at Rs 274.35, down 0.36% on the day as on 13:19 IST on the NSE. ITC Ltd jumped 8.29% in last one year as compared to a 5.2% rally in NIFTY and a 14.85% spurt in the Nifty FMCG index.
Bajaj Holdings & Investment Ltd slips for fifth straight session
The stock is quoting at Rs 2922.1, down 1.59% on the day as on 13:19 IST on the NSE. Bajaj Holdings & Investment Ltd jumped 14.22% in last one year as compared to a 5.2% rally in NIFTY and a 10.27% spurt in the Nifty Financial Services index.
Axis Bank Ltd drops for fifth straight session
The stock is quoting at Rs 610, down 0.8% on the day as on 13:19 IST on the NSE. Axis Bank Ltd jumped 14.22% in last one year as compared to a 5.2% rally in NIFTY and a 5.16% spurt in the Nifty Bank index.
Market hovers near day's low
Key benchmark indices were trading near day's low in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 223.68 points or 0.62% at 35,910.63. The Nifty 50 index was down 78.70 points or 0.72% at 10,790.80.
Sensex declines about 250 pts; Nifty ends at 10,782.90
The market ended the volatile trading session with modest losses. Global stocks dropped as resurgent trade worries worsened investor fears about global economic growth. Volatility rose in late trade after the Reserve Bank of India (RBI) announced monetary policy.
Steinhoff shares tumble after accounts, PwC probe delayed
JOHANNESBURG (Reuters) - A probe into accounting irregularities at Steinhoff International and the release of the retailer's restated results have been delayed, it said on Thursday, sending its shares down as much as 21 percent.
Fitch projects rupee to weaken to 75 against dollar by 2019 end
Fitch Ratings Thursday projected rupee to fall to 75 to a dollar by end of 2019, on widening of current account deficit and tighter global financing. The Indian rupee is currently trading at a two week low level, hovering around 71 to a US dollar. In its Global Economic Outlook, Fitch said it expects inflation to edge up mildly in the coming months, on normalising food prices and higher import prices stemming from the depreciation of the rupee. The widening of the current account deficit amidst tighter global financing conditions should put downward pressure on the currency, and we forecast the INR to weaken to 75 against the dollar by end-2019, Fitch added. The domestic unit is one of the worst performing currency against the USD in Asia so far this year and had breached the level of 74 against the US dollar in October. On October 9, the rupee fell hit at a lifetime low of 74.39 against the US dollar on high crude oil prices, strengthening of the greenback and unabated foreign fund ..
boodmo.com raises Rs 7 cr in fresh round of funding
Online automotive spare parts marketplace boodmo.com said Thursday it has raised Rs 7 crore from an undisclosed Ukrainian private investment fund. With this, the startup has received a total funding of Rs 27 crore, the company said in a statement. Founded in 2015 by Ukrainian entrepreneurs Yevgen Sokolnikov and Oleksandr Danylenko, boodmo.com claims that it offers over one million varieties of car spare parts by 400 suppliers of over 3,000 Indian as well as international brands. "With this fresh funding, we plan to improve the warehouse management systems with the aim of handling more inventory at the hubs on a monthly basis and expediting the product delivery process. This will in turn help us improve our overall performance," boodmo.com Managing Director & Co-Founder Oleksandr Danylenko said. The company has launched two sorting hubs in Delhi and Jaipur recently. Currently, the physical auto spare parts industry in India is unorganised, with customers often facing issues like ...
India, Pak trade much below than potential: Report
The trade between India and Pakistan can go up to USD 37 billion from the current USD 2 billion if the two neighbours tear down artificial barriers like trust deficit and complicated and non-transparent non-tariff measures, according to a World Bank report. The report titled 'Glass Half Full: Promise of Regional Trade in South Asia' was released here on Wednesday. Dawn reported that it says that the current trade between the two countries is much below than full potential. It could only be harnessed if both countries agree to tear down artificial barriers. The bank also estimated Pakistan's potential trade with South Asia at USD 39.7bn against the actual current trade of USD 5.1bn. The report also unpacks four of the critical barriers to effective integration. The four areas are tariff and para-tariff barriers to trade, complicated and non-transparent non-tariff measures, disproportionately high cost of trade, and trust deficit. Talking to a group of journalists on key points of the ..
Oil dips amid stock market slide, traders await OPEC meeting
SINGAPORE (Reuters) - Oil prices dipped on Thursday as stock markets slid and as traders eyed an OPEC meeting expected to result in a supply cut aimed at draining a glut that has pulled down crude by 30 percent since October.
Smartworks opens 20th co-working centre in Bengaluru; total capacity reaches 33k seats
Co-working operator Smartworks Thursday started its biggest centre, comprising 6,000 seats, in Bengaluru as part of its expansion plan to increase capacity and meet the rising demand for shared office space across major cities in the country. With opening of this new facility, Smartworks has 20 centres with total seating capacity of 33,000 and 2 million sq ft area, the company said in a statement. "Spread over 3 lakh sq ft, with 6,000 seats, this is the firm's largest centre located in Global Technology Park (GTP), Bellandur," it added. This is Smartworks' second facility in Bengaluru. The new centre has received a tremendous response, with more than 60 per cent of the space having been pre-booked by leading enterprises including Deluxe with 1,200 seats, Altron with 220 seats and Playgames 24X7 with 450 seats, the statement said. In this facility, it has introduced robotic technology to the co-working management ecosystem. Smartworks founder Neetish Sarda said: "Unlike other agile ...
Attivo Networks expands operations into India
Deception technology company Attivo Networks has expanded its worldwide operations to support growing demand for the technology in India.
Fraunhofer organises 5th Innovation and Technology platform, Digitalization - The Game Changer
Fraunhofer, Europe's largest application-oriented research organization organised their 5th Fraunhofer Innovation and Technology (FIT) Platform on Wednesday in India.Various international technology experts deliberated on and showcased cutting edge technologies, innovation and solutions. The event focused on Digitalization spanning the sectors such as Manufacturing, Energy, Buildings, E-mobility, Space, Smart Cities and Cultural Heritage, all seen as fundamental growth drivers in world markets.The symposium witnessed participation from leading CEOs, CTOs, senior policy makers and innovation experts representing the Government, Industry and the Research fraternity who are also stakeholders and decision makers in the implementation of various Government programs. Some of the dignitaries included:Dr. Gunther Grathwohl - Head of International Digital Dialogue, German Federal Ministry of Economic Affairs and Energy (BMWi)Shri. Anshu Prakash, Additional Secretary, Department of ...
Domestic Credit Flow Still Tight Says FICCI
FICCI noted in a latest update that the recent measures taken by RBI have improved the liquidity situation, but credit flow is still tight. While easing liquidity further will definitely help credit, more complementary steps are required to improve credit delivery. There is an urgent need to improve the credit flow to the real economy. GDP growth is already showing signs of slowing down. With crude oil prices down, we need to take further measures for the revival of animal spirits in the economy and give more momentum to it, stated Rashesh Shah, President, FICCI.
Auto stocks drop
Weakness persisted on the bourses in mid-morning trade as index pivotals remained gripped in selling pressure. At 11:27 IST, the barometer index, the S&P BSE Sensex, was down 371.67 points or 1.04% at 35,512.74. The Nifty 50 index was down 127.35 points or 1.18% at 10,655.55. Auto stocks fell.
Realty stocks decline
Stocks extended initial losses and hit fresh intraday low in morning trade. At 10:24 IST, the barometer index, the S&P BSE Sensex, was down 343.57 points or 0.96% at 35,540.84. The Nifty 50 index was down 122.25 points or 1.13% at 10,660.65. Realty stocks declined.
Market sees gap-down opening on negative Asian stocks
Trading for the day began on a subdued note as the key benchmark indices saw a gap-down opening on negative Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was down 275.92 points or 0.77% at 35,608.49. The Nifty 50 index was down 97 points or 0.9% at 10,685.90.
Markets may see gap-down opening on weak Asian stocks
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 66 points at the opening bell.
Xiaomi leads India wearables market in Q3 2018: IDC
Riding on the success of its Mi Band 3 fitness tracker, Xiaomi has maintained its leadership in the country's wearables market with a 41 per cent market share in the third quarter of this year, the International Data Corp (IDC) said on Thursday.