Page 1695 - Business Finance
Malaysian wealth fund Khazanah selling $2 billion IHH stake to Mitsui
KUALA LUMPUR/SINGAPORE (Reuters) - Malaysian sovereign wealth fund Khazanah Nasional is selling a 16 percent stake in IHH Healthcare Bhd to Japan's Mitsui & Co Ltd for about $2 billion in cash, kicking off a restructuring of its portfolio under a new government.
Rupee breaches 70 per US dollar mark in intra-day trade
The rupee jumped 74 paise to breach the 70 per dollar mark and touched 69.88, a three-month high level, in intra-day trade Thursday amid sustained selling of the greenback by exporters and easing crude oil prices. At the Interbank Foreign Exchange, the rupee opened on a higher note at 70.15 and then gathered further momentum and touched an intra-day high of 69.88, a level last seen on August 27. Forex dealers said, the US dollar weakened against other currencies overseas, after US Federal Reserve Chairman Jerome Powell comments that the central bank's benchmark interest rate is likely to be near a neutral level. Traders said robust foreign fund inflows and easing crude prices also supported the rupee. Foreign portfolio investors (FPIs) bought shares worth a net of Rs 961.26 crore Wednesday. Globally, brent crude, the international benchmark, was trading 0.14 per cent down at USD 58.68 per barrel. Meanwhile, the benchmark BSE Sensex was trading with gains of 369.09 points, or 1.03 per .
Commercial Engineers & Body Builders Company Ltd leads gainers in 'B' group
Hotel Leela Venture Ltd, PVP Ventures Ltd, PG Electroplast Ltd and Kamat Hotels (India) Ltd are among the other gainers in the BSE's 'B' group today, 29 November 2018.
Taking requisite steps to promote startup ecosystem: Prabhu
The government is taking several steps, such as reducing regulatory burden and ensuring availability of adequate funds, for budding entrepreneurs to promote startup ecosystem in the country, Commerce and Industry Minister Suresh Prabhu said Thursday. He said that as startups help create jobs and boost economy, the ministry is working on strengthening the ecosystem for them in every sector including agriculture and services. The ministry is organising a meeting for budding entrepreneurs with global funds next month in Goa. "We are working on a policy to provide mentorship to startups. We are meeting regulators for reducing burden, and meeting global funds for providing funding support to startups," he said here at a function. In January 2016, the government had unveiled incentives to boost startup businesses, offering them a tax holiday, inspector raj-free regime and capital gains tax exemption as part of the startup action plan. Speaking at a separate function of International ...
Adani's Carmichael mine, rail project to be financed through group's resources
After eight years of planning, securing approvals and contesting legal challenges from anti-mining activists, the Adani Group Thursday said its Carmichael mine and rail project will be financed through its own resources. Adani Mining's Carmichael mine and rail project will be 100 per cent financed through the Adani Group's resources," Adani Mining CEO Lucas Dow said. The announcement was made to community leaders, mining industry contractors and suppliers at the Bowen Basin Mining Club luncheon in Mackay, regional Queensland, and follows recent changes to simplify construction and reduce the initial capital requirements for the Carmichael project. Dow said construction and operation of the mine will now begin. Our work in recent months has culminated in Adani Group's approval of the revised project plan that de-risks the initial stage of the Carmichael mine and rail project by adopting a narrow gauge rail solution combined with a reduced ramp up volume for the mine, Dow said. This ...
Bharat Financial vaults after completing assignment transaction
Bharat Financial Inclusion rose 3.02% to Rs 1,030.75 at 12:03 IST on BSE after company said that it has completed third direct assignment transaction of Rs 827.76 crore.
Infibeam Avenues Ltd leads gainers in 'A' group
Jubilant Life Sciences Ltd, GHCL Ltd, Adani Enterprises Ltd and Vakrangee Ltd are among the other gainers in the BSE's 'A' group today, 29 November 2018.
Volumes spurt at D B Corp Ltd counter
D B Corp Ltd notched up volume of 5 lakh shares by 10:47 IST on BSE, a 252.06 fold spurt over two-week average daily volume of 1984 shares
Refined soya oil futures shed 0.34% on ample stocks
Refined soya oil prices weakened by 0.34 per cent to Rs 723.75 per 10 kg in futures trade Thursday as speculators cut bets, triggered by adequate stocks position at spot market against easing demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December declined by Rs 2.50, or 0.34 per cent to Rs 723.75 per 10 kg with an open interest of 36,220 lots. Similarly, the oil for delivery in January 2019 was trading lower by Rs 2.45, or 0.34 per cent to Rs 718.30 per 10 kg in 29,140 lots. Analysts said trimming of positions by participants, driven by sufficient stocks position on increased supplies from growing regions in the physical market against tepid demand, led to the decline in refined soya oil prices in futures trade.
Jeera futures fall 0.85% on profit-booking
Jeera prices fell 0.85 per cent to Rs 19,210 per quintal in futures trade Thursday as speculators trimmed positions to book profits at prevailing levels amid lower domestic and exports demand at the spot market. Furthermore, ample stocks position following higher supplies from the producing belts, too, fuelled the downtrend. At the National Commodity and Derivatives Exchange, jeera for delivery in the December fell Rs 165, or 0.85 per cent, to trade at Rs 19,210 per quintal, with an open interest of 3,678 lots. Similarly, the spice for delivery in far-month January moved down by Rs 155, or 0.79 per cent, at Rs 19,470 per quintal in 1,737 lots. Analysts said besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position, kept pressure on jeera futures.
J&K Bank's conversion into PSU opposed
Employees of the Jammu and Kashmir Bank on Thursday staged a protest here seeking rollback of the government's decision to treat the bank as a public sector undertaking (PSU).
Silver futures weaken by 0.57% on sluggish demand
Silver prices dropped by 0.57 per cent to Rs 36,770 per kg in futures trade Thursday as participants reduced their exposure, taking negative cues from spot market on subdued demand, ignoring a firm trend overseas. At Multi Commodity Exchange, silver for delivery in March moved down by Rs 209, or 0.57 per cent to Rs 36,770 per kg in business turnover of 816 lots. Likewise, the white metal for delivery in December lost Rs 185, or 0.51 per cent to Rs 35,939 per kg in 1053 lots. Analysts attributed the slide in silver futures to off-loading of positions by traders owing to slackened demand from consuming industries in the spot market but a firm trend overseas, restricted the fall. Globally, silver rose 0.28 per cent to USD 14.33 an ounce in Singapore.
Board of Mahanagar Gas approves change in directorate
At meeting held on 28 November 2018
Gold futures soften by 0.41% on low demand
Gold prices softened by 0.41 per cent to Rs 30,518 per 10 grams in futures trading Thursday as participants trimmed positions, taking negative cues from spot market on sluggish demand despite a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month February fell by Rs 126, or 0.41 per cent to Rs 30,518 per ten grams in business turnover of 508 lots. Likewise, the yellow metal for delivery in December contracts was trading lower by Rs 119, or 0.39 per cent to Rs 30,315 per ten grams in 880 lots. Market analysts said cutting down of positions by speculators amid easing demand in the spot market, mainly led to decline in gold prices at futures trade. They said, however, better trend overseas where gold prices firmed on Thursday as the dollar faltered following dovish comments from US Federal Reserve Chair Jerome Powell, calming investor concerns over the pace of rate hikes, capped the fall. Globally, gold prices rose 0.29 per cent to USD 1,224.20 an ounce ..
Market trims gains; auto shares in demand
The market trimmed gains after hitting fresh intraday high in mid-morning trade. At 11:18 IST, the barometer index, the S&P BSE Sensex, was up 349.67 points or 0.98% at 36,066.62. The Nifty 50 index was up 90.05 points or 0.84% at 10,818.90. The Sensex was trading above 36,000 mark and the Nifty was trading above 10,800 mark. Strong global cues, coupled with a fall in crude oil prices and a firmness in rupee boosted investors' sentiment.
Uptick in demand lifts coriander futures by 1.42%
Amid pick-up in domestic demand against restricted arrivals from producing regions, coriander prices rose by 1.42 per cent to Rs 6,412 per quintal in futures trading Thursday as speculators created fresh positions. Further, tight supplies from major producing belts also influenced coriander futures. At the National Commodity and Derivatives Exchange, coriander prices for delivery in December rose by Rs 90, or 1.42 per cent, to Rs 6,412 per quintal, with an open interest of 13,240 lots. Similarly, the spice for delivery in far-month January was trading higher by Rs 80, or 1.25 per cent, to Rs 6,460 per quintal in 19,140 lots. Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against low stock position on fall in supplies from producing regions.
Kerala Assembly session ends in 21 minutes
With the Congress-led opposition continuing to disrupt the Kerala Assembly proceedings for the second day in a row on Thursday, the Speaker adjourned the House in about 20 minutes.
Low demand drags down nickel futures by 0.38%
Nickel prices declined by 0.38 per cent to Rs 763 per kg in futures trade Thursday as speculators reduced exposure amid easing demand in the spot market. At the Multi Commodity Exchange, nickel for delivery in December fell by Rs 2.90, or 0.38 per cent to Rs 763 per kg in business turnover of 501 lots. On similar lines, the metal for delivery in November shed Rs 2.60, or 0.34 per cent to Rs 756.50 per kg in 1,461 lots. Analysts attributed the fall in nickel futures to cutting down of positions by traders due to fall in demand from alloy-makers in the spot market.
New IT & Electronics Policy to Drive West Bengal Housing Demand - ANAROCK Report
/ -- Services the fastest-growing sector with 15.6% growth in 2017-18 Housing prices declined in Q4 2016 after DeMo, but recovered within 4 quarters to register positive growth West Bengal's new IT policy to disseminate the IT-ITeS activities across the state for the benefit of the population in the fringe and rural areas. This will be a game-changer for the state's real estate market as well as its larger economy. This is one of the many highlights of the report 'Kolkata: The East's Icon of Balanced Growth' by knowledge partners ANAROCK at CREDAI StateCon today. The report emphasises that West Bengal's aim to spread the reach of IT/ITeS across the state will help replicate the success of Eastern Kolkata in other parts of the state. (Logo: https://mma.prnewswire.com/media/701435/ANAROCK_Logo.jpg ) Anuj Puri, Chairman - ANAROCK Property Consultants, says, "While West Bengal's real estate market has witnessed only marginal capital values appreciation since 2015, some significant ...
IBSA Fund example of innovative solutions to overcome common problems: Akbaruddin
India has said the IBSA Fund, a unique initiative in south-south cooperation launched 15 years ago by India, Brazil and South Africa, has shown there can be various innovative solutions to overcome common problems and partner fellow developing countries in their development agenda. India's Permanent Representative to the UN Ambassador Syed Akbaruddin said that since its inception, the IBSA Fund has had a cumulative contribution of USD 35 million, partnered 19 developing countries and has implemented 26 projects. Two-thirds of the IBSA Funding has been allocated to assist LDC partners. The fund was launched as a unique initiative in the long tradition of south-south cooperation, Akbaruddin said here Wednesday at a special event marking the 15-year anniversary of the fund. "As three large democracies and developing economies from three different continents, our countries bring together many shared as also unique experiences, common development concerns and priorities," he ...