Page 1644 - Business Finance

Rupee falls 26 paise to 70.75 per US dollar in early trade

The rupee depreciated by 26 paise to 70.75 against the US dollar in early trade Wednesday at the interbank foreign exchange, amid strengthening of the US dollar and foreign fund outflows. Forex dealers said fresh demand for the American currency from importers weighed on the domestic unit. Besides, investors were treading the cautious path ahead of the RBI policy decision. The rupee opened lower at 70.70 a dollar and dropped further to quote at 70.75, 26 paise down over its previous close. On Tuesday, the rupee slipped 3 paise to close at 70.49 against the US dollar due to increased demand for the American currency from importers and firming global crude oil prices. The rupee came under pressure following heavy selling in domestic equities amid foreign fund outflows. The BSE benchmark Sensex dropped over 200 points in early trade Wednesday. The 30-share index was trading 209.22 points, or 0.58 per cent, lower at 35,925.09. In similar movement, the NSE Nifty was trading 75.90 points, ..

Oriental Aromatics fixes record date for sub-division of shares and bonus issue

Record date is 14 December 2018

Indices drift lower in early trade

Domestic stocks edged lower in early trade as key index pivotals dropped. At 9:28 IST, the barometer index, the S&P BSE Sensex, was down 208.07 points or 0.58% at 35,926.24. The Nifty 50 index was down 64.10 points or 0.59% at 10,805.40.

Global Markets: Stocks drop as falling U.S. yields, trade worries hit mood

TOKYO (Reuters) - Asian stocks slid on Wednesday, dragged down by Wall Street's tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.

Vodafone Idea gets revision in credit ratings from India Ratings & Research

Non Convertible Debentures (Rs 6000 crore) - IND AA-/Negative (Revised from IND AA+/ Negative)

Hindalco Industries Ltd Slides 2.06%, S&P BSE Metal index Shed 1.28%

Hindalco Industries Ltd has lost 5.83% over last one month compared to 8.61% fall in S&P BSE Metal index and 2.73% rise in the SENSEX

Tata Motors slips after S&P cuts credit rating

Tata Motors fell 2.25% to Rs 171.75 at 9:19 IST on BSE after S&P Global Ratings lowered the credit rating of the company and Jaguar Land Rover Automotive Plc.

Takeda shareholders give nod for $59 billion Shire acquisition

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.

Outcome of RBI monetary policy to dictate market trend

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11 points at the opening bell.

Tata Motors in spotlight after S&P cuts credit rating

Tata Motors announced that S&P Global Ratings has lowered the credit rating of the company and luxury car unit, Jaguar Land Rover Automotive Plc (JLR), citing weaker profitability at JLR. S&P cut its rating on Tata Motors' issuer credit and senior unsecured notes to 'BB-' from 'BB'. The ratings remain on negative watch. The announcement was made after market hours yesterday, 4 December 2018.

Global Markets: Stocks slide as falling U.S. yields, trade worries knock sentiment

TOKYO (Reuters) - Asian stocks slid on Wednesday, dragged down by Wall Street's tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.

Australia's economy slows, debt-laden consumers a deadweight

SYDNEY (Reuters) - Australia's economy slowed more than expected last quarter as consumers reacted to tepid wage growth by shutting their wallets, a disappointing outcome that sent the local dollar sliding as investors pushed out the chance of any rate hike.

Japan slides in key Asia corporate governance ranking, ties with India

HONG KONG (Reuters) - Japan slid three places to seventh in a widely watched ranking of corporate governance in Asia, tying with India but languishing behind the likes of Thailand and Malaysia.

Oil prices skid amid global stock market slump, swelling U.S. supply

SINGAPORE (Reuters) - Oil prices fell 1 percent on Wednesday, weighed down by swelling U.S. inventories and a plunge in global stock markets as China's government warned of increasing economic headwinds.

Small-diamond slump to pressure manufacturers: Report

The sharp decline in prices of small, low-value diamonds will exert further pressure on India's manufacturing sector, according to the latest issue of the Rapaport Research Report.Prices in some categories have dropped by up to 20 per cent in 2018 due to an oversupply and weaker demand, it added.The report, "A Crisis in Melee," outlines four factors influencing the weakness in the market for small diamonds:-The addition of three new mines in 2017 brought global rough production to its highest level since 2008, resulting in an excess of supply.-Manufacturers became cautious due to tighter credit in India and the depreciation of the rupee.-Some US retailers are shying away from natural melee because of the threat of undisclosed synthetics. There is a shift toward better-quality goods, which includes a small but growing preference to use better-quality lab-grown melee rather than lower-quality natural stones.-Technology used in jewelry design has changed the way small diamonds are ...

In a first, Indian AMC adopts CFA Institute's Global Investment Performance Standards

CFA Institute, the global association of investment professionals that sets the standard for professional excellence, has added Multi-Act Equity Consultancy Pvt. Ltd. to the growing list of asset management companies that comply with the Global Investment Performance Standards (GIPS).Multi-Act is the first asset management company from India to adopt the GIPS standards, and the compliance was verified by M. P. Chitale & Co.Vidhu Shekhar, CFA, Country Head, India, CFA Institute said, "We are excited that the GIPS standards have made their way to India. We congratulate Multi-Act for becoming the first Indian asset management company to be GIPS verified. This serves as an assurance to investors that the firm's investment performance is complete and fairly presented since it enables investors to directly compare one firm's track record with another firm's record."Globally, more than 1,700 firms have adopted the GIPS standards in 45 markets around the world. Twenty-four of the top 25, .

Stocks fall as declining U.S. yields, trade woes knock sentiment

TOKYO (Reuters) - Asian stocks fell on Wednesday, dragged by Wall Street's tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.

Oil prices slide on swelling U.S. supply, global market slump

SINGAPORE (Reuters) - Oil prices fell 1 percent on Wednesday, weighed down by swelling U.S. inventories and a plunge in global stock markets amid concerns over an economic slowdown.

UK steel sector crippled by power costs as Brexit looms

LONDON (Reuters) - British steelmakers pay twice as much for electricity as their French competitors and 50 percent more than their German rivals, an industry report showed on Wednesday, piling pressure on the sector as Britain prepares to leave the European Union.

Corrected: Stocks fall as declining U.S. yields, trade woes knock sentiment

(This story corrects S&P futures move in sixth paragraph.)