Page 1662 - Business Finance

India's factory output rises to 11-month high in November

India's factory output in November rose to an 11 month high on the back of improved demand, according to the Nikkei India Manufacturing PMI.

ICICI Sec to deposit up to Rs 50,000 share sale amts in 30 min

To help retail investors tide over their liquidity requirements, brokerage ICICI Securities Monday said money for share sales of up to Rs 50,000 per day will be deposited within 30 minutes. At present, it takes two days or more after the sell transaction for investors to receive the money into their accounts. The facility will be available on 600 select stocks on the BSE representing 99 per cent of market capitalisation. It is offering it on BSE initially because the systems at Asia's oldest bourse were best suited to start such a facility. Its managing director and chief executive Shilpa Kumar said it will broaden the reach of the facility, hinting it will also eventually offer a similar facility for sales on NSE. The brokerage has 42 lakh customers and the facility is available without any extra charge beyond the brokerage. Vishal Gulecha, the head of equities at the brokerage, said there will be a cost which ICICI Securities will have to incur on account of depositing

Steel Strips Wheels achieves 24% growth in revenue in Nov 2018

SSWL achieved total wheel rim sales of 12.78 lakh compared to 12.96 lakh in November 2018, representing a fall of 1% YoY.

Global Markets: Asian shares, oil soar on Sino-U.S. trade truce

SYDNEY/TOKYO (Reuters) - Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets and battered oil prices.

Trump says China to cut tariffs on US cars; markets rise

China has agreed to cut tariffs on cars it imports from the US, President Donald Trump has said, after he negotiated a truce in the trade war with Beijing. The announcement boosted the financial markets.

RBI panel begins 3-day meet on interest rate

The six-member Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, began its three-day policy review deliberations Monday amid expectations of status quo on interest rate. Experts are of the view that the RBI may not change the benchmark lending rate (repo) despite moderation in economic growth and easing inflation. In its last bi-monthly monetary policy, the RBI had kept the repo rate (at which RBI lends to other banks) unchanged at 6.5 per cent with warning that volatile and rising oil prices, and tightening of global financial conditions pose substantial risks to the growth and inflation. The MPC meet will continue till December 5. The decision of the MPC will be placed on the RBI's website in the afternoon of December 5. Since the previous policy announcement, the rupee has appreciated against the US dollar and moved above the psychologically crucial mark of 70. Global crude oil prices too have softened significantly, slipping below USD 60 per barrel from USD ...

Surya Roshni wins multiple orders worth Rs 49.18 crore

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Strong demand pushes November factory growth to best pace in 2018

(Reuters) - India's factory activity in November expanded at the fastest pace this year, buoyed by a rise in domestic and foreign demand that allowed firms to raise prices, a private survey showed.

Trump tweets China to cut tax on U.S.-made cars, revs up auto stocks

WASHINGTON/SHANGHAI (Reuters) - U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars, buoying shares in BMW and Daimler AG who manufacture in the United States for export to the world's biggest auto market.

Dealmaker Albert Frere, Belgium's richest man, dies aged 92

BRUSSELS (Reuters) - Albert Frere, a veteran dealmaker whose impeccable business timing made him Belgium's richest man, died on Monday at the age of 92, the firm he built, Groupe Bruxelles Lambert (GBL), said.

Board of GlaxoSmithkline Consumer Healthcare approves scheme of amalgamation

At meeting held on 03 December 2018

Grab in talks to invest around USD 100 mn in OYO

Singapore-based transportation services provider Grab is in discussions to invest around USD 100 million (over Rs 700 crore) in hospitality firm OYO, according to sources. Grab is expected to close the deal within this week, people aware of the matter said. Both OYO and Grab have earmarked Indonesia and Southeast Asia as their key markets. In October this year, OYO said it had forayed into Indonesia and also confirmed an investment of over USD 100 million in the country as part of its expansion in Southeast Asia. "We intend to invest over USD 100 million in this high growth market and plan to expand to the top 35 cities in Indonesia, including Yogyakarta, Bandung, Bali, over the next 15 months," OYO Founder and CEO Ritesh Agarwal said earlier. Indonesia is one of the top choices for both global and Indian travellers and with OYO's market learning and expertise the company is ready to tap this opportunity, he added. OYO also looks forward to create over 60,000 (direct and indirect) ...

Grab invests $100 million in Indian hotel startup OYO: source

(Reuters) - Singapore-based ride-hailing firm Grab has invested $100 million in Indian hotel-reservations startup OYO, a source with knowledge of the matter told Reuters on Monday.

Unilever to swallow GSK's Indian Horlicks business

LONDON (Reuters) - Unilever is to buy GlaxoSmithKline's Indian Horlicks nutrition business for around $3.8 billion, boosting the consumer goods group's position in a key emerging market.

Japanese e-commerce firm opens research centre in India

Japanese e-commerce major Rakuten on Monday said it had opened its India research and development (R&D) institute here to focus on deep learning, computer vision and robotics for warehouse logistics applications.

TVS Motor logs 27% sales growth in November

Two and three wheeler maker TVS Motor Company Ltd on Monday said it logged 27 per cent sales growth last month.

Shankara Building Products Ltd leads losers in 'A' group

Sun Pharmaceuticals Industries Ltd, Ashok Leyland Ltd, Interglobe Aviation Ltd and Kwality Ltd are among the other losers in the BSE's 'A' group today, 03 December 2018.

Oil surges 5 percent on trade truce and expected supply cuts

LONDON (Reuters) - Oil prices jumped by more than 5 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute, and ahead of a meeting this week of the producer club OPEC that is expected to agree to cut supply.

Esab India Ltd leads losers in 'B' group

Astron Paper & Board Mill Ltd, Hotel Leela Venture Ltd, PVP Ventures Ltd and DQ Entertainment International Ltd are among the other losers in the BSE's 'B' group today, 03 December 2018.

Hindustan Unilever, GSK Consumer advance after board approve merger

Shares of Hindustan Unilever and GlaxoSmithKline Consumer Healthcare rose by 0.76% to 1.31% at 14:30 IST on BSE after Hindustan Unilever's board approved merger of GSK Consumer Healthcare with itself.