Page 1642 - Business Finance
Takeda shareholders approve $59 billion Shire buy but are wary of debt load
OSAKA (Reuters) - Takeda Pharmaceutical shareholders approved on Wednesday its $59 billion takeover of London-listed Shire, creating a global powerhouse with a stronger drugs pipeline but one that is saddled with massive debt.
Huami joins Timex Group to develop Next-Gen smart wearables
Xiaomi-backed wearable brand Huami on Wednesday announced a partnership with Timex Group to develop new smart wearable products and increase the global market share.
Lead futures slide 0.50 pc on low demand
Lead prices fell by 0.50 per cent to Rs 140.40 per kg in futures trade Wednesday after speculators reduced their exposure amid a weak trend at the spot markets due to subdued demand. At the Multi Commodity Exchange, lead for delivery in December was down by 0.70 paise, of 0.50 per cent, to trade at Rs 140.40 per kg in business turnover of 653 lots. Marketmen said off-loading of bets by participants owing to slackened demand from consuming industries, particularly, battery-makers, at the physical markets, mainly weighed on lead prices at futures trade.
Silver prices drop sharply by Rs 240
Silver prices dropped sharply by Rs 240 to Rs 36,394 per kg in futures trade Wednesday after speculators reduced their exposure amid a weak trend overseas. Silver for delivery in December fell by Rs 240, or 0.66 per cent to trade at Rs 36,394 per kg in a business turnover of 23,189 lots at the Multi Commodity Exchange. On similar lines, the white metal for delivery in March 2019, shed Rs 315, or 0.84 per cent, at Rs 37,166 per kg with a business turnover of 263 lots. In the international market, spot silver fell 0.4 per cent to USD 14.46 per ounce. Marketmen said trimming of positions by speculators to book profits at prevailing levels and a weak trend overseas, mainly led to a fall in silver prices at futures trade here.
Wipro Ltd spurts 0.81%, gains for five straight sessions
The stock is quoting at Rs 337.65, up 0.81% on the day as on 12:44 IST on the NSE. Wipro Ltd is up 19.52% in last one year as compared to a 7.54% gain in NIFTY and a 35.95% gain in the Nifty IT.
RBL Bank Ltd spurts 0.65%, up for fifth straight session
The stock is quoting at Rs 559.8, up 0.65% on the day as on 12:44 IST on the NSE. RBL Bank Ltd is up 9.84% in last one year as compared to a 7.54% jump in NIFTY and a 6.97% jump in the Nifty Bank.
Tata Motors plunges on S&P rating downgrade
Stocks of Tata Motors dropped over 3.5 per cent Wednesday after S&P Global Ratings downgraded the credit rating of the auto giant and its British arm Jaguar Land Rover Automotive Plc. After a negative opening on BSE, the scrip further declined 3.27 per cent to Rs 169.95. At 1251 hrs, the stock was trading at Rs 170.75, down 2.82 per cent. On NSE, following the similar trend, the stock touched an intra-day low of Rs 92.75, down 3.63 per cent from the previous close. In a regulatory filing to the stock exchanges Tuesday, Tata Motors said S&P Global Ratings has downgraded the credit rating of the company and Jaguar Land Rover Automotive Plc citing weak profitability at its British arm JLR. Last month, Moody's Investors Service had changed Tata Motors' rating outlook to negative from stable, citing expectations of weak operating performance of JLR.
Maruti Suzuki India to hike prices to combat higher costs
(Reuters) - Maruti Suzuki India Ltd will raise prices across various car models next month to mitigate the impact of high commodity prices and foreign exchange rates, the automaker said on Wednesday.
Auto stocks decline
Market continued to trade with weakness in early afternoon trade as caution prevailed ahead of the outcome of the Reserve Bank of India's (RBI) monetary policy meeting. At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 186.03 points or 0.51% at 35,948.28. The Nifty 50 index was down 63.05 points or 0.58% at 10,806.45. Auto stocks declined.
Gold pulls back from five-week high as dollar edges higher
BENGALURU (Reuters) - Gold prices dipped on Wednesday, retreating from a more than five-week top hit in the previous session, as the dollar crawled higher.
Chana futures fall 0.67% on muted demand
Chana prices declined by 0.67 per cent, to Rs 4,602 per quintal in futures trade Wednesday after participants reduced their exposure amid subdued demand at spot market. Profit-booking at higher levels also weighed on the sentiment. At the National Commodity and Derivatives Exchange, Chana for delivery in January was trading lower by Rs 31, or 0.67 per cent, at Rs 4,602 per quintal, with an open interest of 30,470 lots. The March 2019 rates also fell by Rs 45, or 0.97 per cent, to Rs 4,610 per quintal with open interest of volume stood at 14,010 lots. Marketmen said trimming of bets by traders, due to easing demand in physical market against adequate stocks, mainly led to fall in chana prices at futures trade here.
Gold futures weaken by Rs 198/10 grams on global cues
Gold prices fell by Rs 198 to Rs 30,908 per 10 grams in futures trade Wednesday as speculators reduced exposure as US dollar edged higher. At the Multi Commodity Exchange, the gold for delivery in December fell by Rs 198, or 0.64 per cent to Rs 30,908 per 10 grams in business volume of 1,711 lots. Spot gold was down 0.3 per cent at USD 1,234.71 per ounce, after hitting its highest since October 26 at USD 1,241.86 an ounce in the previous session. US gold futures were down 0.5 per cent at USD 1,240.2 per ounce. Gold for delivery in February 2019 traded lower by Rs 192, or 0.62 per cent, to Rs 30,914 per 10 grams in a business volume of 1,695 lots.
NZ's Trade Me gets second, higher buyout offer for $1.8 billion
WELLINGTON (Reuters) - New Zealand's top online marketplace Trade Me Group said it has received a NZ$2.56 billion ($1.8 billion) buyout proposal from a U.S. private-equity firm, trumping a rival offer and setting the stage for a possible bidding war.
Japan's third-quarter economic contraction seen deepening as businesses cut spending: Reuters poll
TOKYO (Reuters) - Japan's economy is expected to have contracted more sharply initially estimated in the third quarter, with analysts in a Reuters poll forecasting a steep drop in capital spending in a sign of rising headwinds in 2019 as global demand ebbs.
Capital Trust Ltd leads gainers in 'B' group
Megasoft Ltd, Celebrity Fashions Ltd, Mandhana Retail Ventures Ltd and Trigyn Technologies Ltd are among the other gainers in the BSE's 'B' group today, 05 December 2018.
Nifty, Sensex fall in line with Asia; metals falter
(Reuters) - Indian shares edged lower on Wednesday tracking broader Asian markets, after Wall Street's tumble due to a sharp fall in long-term U.S. Treasury yields and resurgent trade concerns sparked worries about global economic growth.
Arvind Ltd leads gainers in 'A' group
Vakrangee Ltd, Time Technoplast Ltd, Edelweiss Financial Services Ltd and Shankara Building Products Ltd are among the other gainers in the BSE's 'A' group today, 05 December 2018.
Real estate innovation: The next phase of growth (Column: Behind Infra Lines)
As the Indian economy evolves, value-creation opportunities in real estate will exist as much in capturing the consumption-growth upside as in pursuing strategies of specialisation. The last decade has seen significant investments in real estate and real estate-related infrastructure, as investors braced for growth and development. The next phase of growth will be driven as much by value-added real estate strategies as by capital market innovation in real estate financing.
Kridhan Infra spurts after associate company wins order
Kridhan Infra rose 5.76% to Rs 49.60 at 10:23 IST on BSE after the company said its associate company received a letter of intent worth Rs 105 crore.
L&T Construction bags orders worth Rs 2,106 cr
Larsen & Toubro (L&T) Wednesday said its construction arm has bagged orders worth Rs 2,106 crore across various business segments in the domestic market. The water and effluent treatment business has secured orders worth Rs 1,954 crore while L&T Geo Structure business has secured orders worth Rs 152 crore, the engineering and construction major said in a regulatory filing. L&T said water and effluent treatment business has received a design and build order from the Andhra Pradesh Capital Region Development Authority (AP CRDA). "This order will be jointly executed by water effluent treatment business and transportation infrastructure business of L&T Construction," it added. The business has also secured a turnkey order from the Jharkhand Urban Infrastructure Development Company Limited (JUIDCO) for execution of drinking water supply projects in the Hazaribagh and Ranchi districts of Jharkhand, the company said. L&T GeoStructure business has secured an order from