Page 1696 - Business Finance
Maruti Suzuki Baleno clocks 5 lakh sales milestones
A symbol of the Make-in-India mission, Baleno is exclusively manufactured in India. It is the first car to be exported from India to Japan. And, besides domestic market the premium hatchback has been receiving overwhelming response in global markets such as Australia, Europe, Latin America and East Asia.
Big rally at Wall Street
Stocks rise following dovish comments from Fed Chairperson
Yes Bank hits 52-week low after ratings downgrade
Yes Bank lost 7.79% to Rs 149.10 at 10:45 IST on BSE after two rating agencies announced downgrade in the bank's ratings.
Lead futures down 0.66% on weak spot cues
Lead prices drifted lower by 0.66 per cent to Rs 134.75 per kg in futures market Thursday as speculators cut bets, taking negative cues from spot market on muted demand. At the Multi Commodity Exchange, lead for delivery in November fell by 90 paise, or 0.66 per cent to Rs 134.75 per kg in business turnover of 333 lots. Likewise, the metal for delivery in December shed 75 paise, or 0.55 per cent to Rs 136.40 per kg in 42 lots. Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in the physical market, mainly influenced lead prices at futures trade.
Copper futures slide 0.87% on profit booking
Copper prices moved down by 0.87 per cent to Rs 431.05 per kg in futures trading as speculators booked profits amid easing demand from consuming industries in the spot market. However, firm trend overseas capped the fall. At the Multi Commodity Exchange, copper for delivery in November declined by Rs 3.80, or 0.87 per cent to Rs 431.05 per kg in business turnover of 1,512 lots. Similarly, the metal for delivery in February was trading lower by Rs 3.70, or 0.84 per cent to Rs 438.70 per kg in 529 lots. Analysts said besides profit-booking by participants, easing demand from consuming industries in the spot market mainly weighed on copper prices at futures trade here but a firm trend overseas capped the slide. Globally, copper for delivery in three-month climbed 0.4 per cent to USD 6,225 a tonne, extending a 1.3 per cent jump from the previous session.
Mentha oil futures gains 0.78% on spot demand
Mentha oil prices climbed 0.78 per cent to Rs 1,712.90 per kg in futures market Thursday after participants raised bets amid rise in demand from consuming industries at the spot market against restricted arrivals from producing regions. At the Multi Commodity Exchange, mentha oil for delivery in December was higher by Rs 13.40, or 0.78 per cent, to Rs 1,712.90 per kg, clocking a business volume of 124 lots. The oil for this month delivery was trading higher by Rs 11.50, or 0.68 per cent to Rs 1,695 per kg, with a trading volume of 17 lots. Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Market jumps on strong global cues
Key benchmark indices jumped in early trade, tracking strong leads from Asian market and overnight rally on the Wall Street. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 243.22 points or 0.68% at 35,960.17. The Nifty 50 index was up 60.90 points or 0.57% at 10,789.75.
India among fastest growing Cloud markets for AWS: CEO Andy Jassy
The Asia-Pacific region has huge potential to write the next growth story for Amazon Web Services (AWS), with India playing a key role in Cloud adoption among both enterprises and the governments, CEO Andy Jassy has stressed.
US seeks transparency on Chinese debt on Pakistan
The US is demanding transparency over China's debt on Pakistan, the Trump Administration told lawmakers amid concerns that Islamabad is seeking a multibillion-dollar bailout package from the IMF to pay back Chinese creditors. Cash-strapped Pakistan has requested the bailout from the International Monetary Fund (IMF) in October to deal with a mounting balance-of-payments crisis. "The IMF team just came back from Pakistan. One of the things we're pushing hard for is full transparency of the debt," Under Secretary of Treasury for International Affairs David Malpass told lawmakers during a Congressional hearing. Malpass was responding to a query on Pakistan-specific Chinese debt from Senator Jeff Merkley during a hearing of the Senate Foreign Relations Subcommittee on Multilateral and International Development, Multilateral Institutions, and International Economic Energy and Environmental Policy. Senator Merkley, a ranking member of the subcommittee had asked if IMF funds are essentially .
MakeMyTrip Powers its Global Hotel Supply Management With RateGain's DHISCO
/ -- MakeMyTrip Ltd (NASDAQ: MMYT), India's leading online travel company and DHISCO, a RateGain company, today announced a partnership to strengthen their ability to support the travelers as they shop & book for hotels worldwide. https://rategain.com/wp-content/uploads/2018/11/MMT-3.jpg DHISCO is connected to 500 unique hotel chains around the world allowing MakeMyTrip to access a vast array of hotels and hotel chains. Additionally, MakeMyTrip can integrate with hotel partners for shopping and booking in a manner that works for their collective needs. Mr. Ritwik Khare, Chief Business Officer, International Hotels & Global Key Accounts, MakeMyTrip, "MakeMyTrip has a long-running, fruitful partnership with RateGain and our integration with DHISCO is an extension of our trust in them. We are happy to partner with one of the most experienced solution providers to use best-in-class technology that would enable our customers with more choices and better information." "We are ...
PharmaHopers Explains the Expectations From Third Party Pharma Manufacturing Companies
/ -- The Drugs Technical Advisory Board (DTAB), back in May, showed a green flag to the proposal for amending the Drugs & Cosmetics Act. This is to make pharmaceutical marketing firms liable for any negligence in the regulations; earlier the company marketing substandard medicines were not held accountable for making patient consume low-quality medicines in India. This has definitely put pressure on the Pharma Marketing Companies to go for the reliable and trusted third party pharma manufacturing companies which would follow all quality standards and regulation by FDA and other authorities. Many times, big pharmaceutical companies get their medicines manufactured by smaller companies. Today, if something (a violation) happens (Product quality), only the manufacturer can be held responsible, Now, legal action will be taken against both (the manufacturer and marketing company). This amendment has lately made pharma professionals reconsider what to expect from third party Pharma ...
SpiceJet shares rise; gives additional bank guarantee to airport operator
NEW DELHI (Reuters) - Shares of SpiceJet Ltd rose as much as 2.8 percent on Thursday after the low-cost carrier said it has provided an additional bank guarantee of 200 million rupees ($2.83 million) to state-owned Airports Authority of India for unpaid dues.
Sical Logistics spurts after receiving LoA from Mahanadi Coalfields
Sical Logistics surged 4.12% to Rs 157.80 at 09:35 IST on BSE after the company said it received a letter of acceptance from Mahanadi Coalfields for excavation of coal / coal measure strata and allied transportation activities.
KPIT Technologies Ltd Slides 3.09%
KPIT Technologies Ltd has lost 6.31% over last one month compared to 1.04% gain in S&P BSE IT Sector index and 6.14% rise in the SENSEX
Vedanta Ltd Spikes 2.41%, S&P BSE Metal index Rises 1.19%
Vedanta Ltd has lost 6.42% over last one month compared to 7.14% fall in S&P BSE Metal index and 6.14% rise in the SENSEX
Sensex soars over 350 pts on global cues, F&O expiry
The benchmark BSE Sensex surged over 350 points and the NSE Nifty reclaimed the 10,800 mark in early trade Thursday on positive trend in other Asian bourses as dovish comments from US Federal Reserve Chairman Jerome Powell boosted investor sentiment here. Short-covering of bets on the last session of November futures and options (F&O) derivatives series kept the market mood upbeat. Rally in rupee, which gained 57 paise against the US dollar, also supported the upmove in the domestic stock market. The 30-share index, which had gained 203.81 points in the previous sessions, spurted 364.32 points, or 1.02 per cent, to trade at 36,081.27. The NSE Nifty was also trading 80.30 points, or 0.74 per cent, higher at 10,809.15. Major gainers were Vedanta, RIL, Tata Steel, ITC, PowerGrid, IndusInd Bank, Bajaj Auto, Tata Motors, SBI, HUL and ICICI Bank, rising up to 3.81 per cent. While, Yes Bank fell 4.55 per cent, ONGC 1.89 per cent, Coal India 1.27 per cent, TCS 0.93 per cent and Infosys ...
Voting underway for fifth phase of panchayat polls in Kashmir
Voting is underway on Thursday for the fifth phase of panchayatpolls at over 2,500 polling stations in Jammu and Kashmir, officials said. Polling began at 2,512 polling stations including 769 in Kashmir division and 1,743 in Jammu division at 8 am, the officials said. They said 848 polling stations have been categorized as hypersensitive including 755 in Kashmir division and 93 in Jammu division. The officials said 4,763 candidates are in the fray for 309 sarpanch and 1,534 panch seats in the fifth phase while 118 sarpanchs and 1,046 panchs have been elected unopposed. In these areas, an electorate of 404283 have the right to exercise their franchise for sarpanch constituencies and 270295 for panch constituencies. The officials said in the first phase of the polls held on 17 November, 74.1 per cent polling was recorded across J-K including 64.5 per cent in Kashmir division and 79.4 per cent in Jammu division. In the second phase held on 20 November, overall 71.1 per cent polling was ..
Rupee advances 57 paise to 70.05 against US dollar in early trade
The rupee gained 58 paise to trade at 70.05 against the dollar in early trade Thursday at the Interbank Foreign Exchange amid sustained selling of the greenback by exporters and banks. 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. Following Powell's comments, the US dollar was trading weak against its peers and boosted the domestic currency. At the Interbank Foreign Exchange, the rupee opened on a higher note at 70.15 and then gathered further momentum and touched a high of 70.05, up 57 paisa over its previous close. On wednesday, the rupee had surged by 17 paise to close at 70.62 against the US currency as global crude oil prices slipped below the USD 60 per barrel mark amid a smart recovery in domestic equity markets. Forex traders said robust foreign fund inflows and easing crude prices also supported the ...
Yes Bank hits over two-year low after ICRA, CARE cut ratings
(Reuters) - Shares of Yes Bank Ltd plunged to their lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender's debt instruments.
Big Indian insurer bets on oil marketing companies for 2019
MUMBAI (Reuters) - India's Aditya Birla Sun Life Insurance (ABSLI) plans to increase its holdings in oil marketing companies as crude prices come under pressure and valuations in the sector turn attractive ahead of general elections next year.