Page 1631 - Business Finance
Sensex down 300 points, rupee above 71
Uncertainty over the outcome of Assembly elections and a weak rupee sent the Sensex plunging over 350 points during the afternoon session of the trade on Thursday.
Infosys opens innovation hub at Hartford in US
Global software major Infosys on Thursday said it had opened a technology-cum-innovation hub at Hartford in Connecticut state in the US to work for its clients in the region.
Housing.com to invest Rs 35 cr in next 4 months on branding
News Corp-backed Housing.com will invest USD 5 million (around Rs 35 crore) by March next year on branding and promotion as it seeks to increase customer base on its platform, a top company official said. In January 2017, Singapore-based Elara Technologies, which owns PropTiger.com and Makaan.com, acquired Housing.com -- a start-up founded in 2012 by around dozen IIT graduates -- in a major consolidation in the Indian online real estate business. "It's now close to two years from the date of merger with Housing.com. The integration process is complete and has gone well. "The Housing brand has always been very popular and we believe that this is the right time for us to launch a fresh brand campaign to further build recall and affinity for the brand," said Dhruv Agarwala, who is CEO of all the three brands -- PropTiger, Housing and Makaan. Housing.com has roped in film stars Vicky Kaushal and Kiara Advani for its new TV commercial, which will showcase smart search technology offered by
MOIL Ltd up for five straight sessions
The stock is quoting at Rs 170.75, up 1.22% on the day as on 12:44 IST on the NSE. MOIL Ltd is down 21.48% in last one year as compared to a 4.91% fall in NIFTY and a 13.58% fall in the Nifty Metal.
Monetary Policy Stance Probably Required Calibration Says Ministry Of Finance
The Secretary, Department of Economic Affairs, Subhash Chandra Garg in a Statement said that the assessment of the RBI's Monetary Policy Committee (MPC) for growth and inflation outlook is consistent with the Government's assessment of inflation and growth, according to a latest official press release. Garg said that the Government welcomes the assessment of the MPC. The Government notes its decision to maintain the Policy Rate. The policy stance probably required calibration, he added. The RBI has also decided to reduce SLR from existing 19.5% to 18.0% in six quarterly instalments beginning January 2019. Secretary, DEA,Shri Garg said that this will have some implications for the Government securities. However, the momentum created by the reduction in oil prices and reversal of foreign flows has resulted in further moderation of yields post policy announcement, he concluded.
Coriander dips 1.69% on subdued demand
Coriander prices fell 1.69 per cent to Rs 6,575 per quintal in futures market Thursday as participants cut down positions amid muted domestic as well as exports demand against ample stocks position. Besides, rising arrivals from major producing regions and profit-booking at higher levels weighed on the sentiment. At the National Commodity and Derivatives Exchange, coriander prices for delivery in January declined by Rs 113, or 1.69 per cent, to Rs 6,575 per quintal with an open interest of 21,910 lots. On similar lines, rates for February, next year, was trading at Rs 6,758, down by 1.89 per cent, or Rs 130. The open interest of the contract stood at 6,460 lots. Analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.
Global Markets: Stocks slide as Huawei arrest risks new strains in U.S.-China ties
TOKYO (Reuters) - U.S. stock futures and Asian shares slumped on Thursday after Canadian authorities arrested a top executive of Chinese tech giant Huawei for extradition to the United States, feeding fears of a fresh flare-up in tensions between the two superpowers.
Exclusive: Tesla, smarting from trade war, seeks bids for China Gigafactory construction
SHANGHAI (Reuters) - Tesla Inc has opened a tender process to build its Shanghai Gigafactory and at least one contractor has started buying materials, according to sources and documents reviewed by Reuters, the clearest indication that construction is imminent.
Rising demand lifts chana futures by 0.24 pc
Chana prices went up by 0.24 per cent to Rs 4,611 per quintal in futures trade Wednesday after participants created speculative positions, driven by rising demand at the spot market. At the National Commodity and Derivatives Exchange, Chana for January next year moved up by Rs 11, or 0.24 per cent, to trade at Rs 4,611 per quintal with an open interest of 26,830 lots. On similar lines, the commodity for far-month March was up by Rs 17, or 0.37 per cent, at Rs 4,630 per quintal in 8,350 lots. Analysts said, widening of positions by traders following pick-up in demand against restricted supplies mainly led to rise in the prices.
Kellton Tech Solutions Ltd leads gainers in 'B' group
Allied Digital Services Ltd, Oswal Agro Mills Ltd, Eastern Silk Industries Ltd and Sakuma Exports Ltd are among the other gainers in the BSE's 'B' group today, 06 December 2018.
Fitch slashes India growth forecast to 7.2 pc on reduced credit availability
Fitch Ratings Thursday slashed India's GDP growth forecast to 7.2 per cent for current fiscal, from 7.8 per cent projected in September, citing higher financing cost and reduced credit availability. In its Global Economic Outlook released Thursday, Fitch estimated India's GDP growth to be 7 per cent and 7.1 per cent in financial years 2019-20 and 2020-21 respectively. Indian economy grew 6.7 per cent in 2017-18 fiscal. The 7.2 per cent GDP growth for current fiscal is substantially lower than 7.8 per cent and 7.4 per cent projections made by Fitch in September and June respectively. It is also lower than RBI's 7.4 per cent growth estimates for this fiscal. We have lowered our growth forecasts on weaker-than-expected momentum in the data (GDP), higher financing costs and reduced credit availability. We now see GDP growth at 7.2 per cent in the fiscal year ending March 2019 (FY19), followed by 7.0 per cent in FY20 and 7.1 per cent in FY21, Fitch said. In September, the rating agency had
'Narcos: Mexico' renewed for season 2
Drug trade drama "Narcos: Mexico" has been renewed for a second season by streaming site Netflix.
Oil prices sag on weak stock markets, but traders keep eye on OPEC meeting
SINGAPORE (Reuters) - Oil prices fell on Thursday as stock markets slid, but trading was tepid in the countdown to 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.
Analysis: One part of the U.S. yield curve just inverted; what does that mean?
NEW YORK (Reuters) - Part of the U.S. Treasury yield curve "inverted" this week, setting off debate over whether it is delivering a classic signal of oncoming recession or it has just developed a short-term kink that can be explained away by technical reasons.
Nifty, Sensex fall over 1 percent; financials drag
(Reuters) - Indian shares fell more than 1 percent on Thursday, a day after the central bank decided to hold interest rates in light of easing inflation to support the economy.
Sonata Software Ltd leads gainers in 'A' group
Coffee Day Enterprises Ltd, ICICI Lombard General Insurance Company Ltd, Max Financial Services Ltd and LIC Housing Finance Ltd are among the other gainers in the BSE's 'A' group today, 06 December 2018.
Kirloskar Ferrous turns volatile
Kirloskar Ferrous Industries was down 2.81% to Rs 86.55 at 11:27 IST on BSE, amid weak market trend, after the company said it has been selected as a preferred bidder in electronic auction for iron ore mine in Karnataka.
DIPP organises startup India venture capital summit in Goa
The commerce and industry ministry is organising a day-long startup India centre capital summit in Goa Thursday with an aim to attract global capital into the country. In a statement, the ministry said that the theme of the summit is 'Mobilizing Global Capital for Innovation in India.' "The event will showcase the Indian startup opportunity for funds from around the world. The summit aims to attract more global capital into the country," it said. The event will enable a dialogue between government and experienced venture capital fund managers on ways to further promote the startup ecosystem in India. It said that the focus of the summit is on the huge return-generating potential of India's vast and diverse market monetised through cutting-edge technologies and supported by investor-friendly regulations. The key objectives will be to showcase the India opportunity, increase capital flow for Indian startups and further promote ease of doing business. It added that over 150 participants .
What is an inverted yield curve?
(Reuters) - A section of the U.S. Treasury yield curve has moved into inversion. Here is what that means.
Oil falls amid stock market slide, but market eyes OPEC meeting
SINGAPORE (Reuters) - Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October.