Page 1705 - Business Finance
Sensex, Nifty extend gains into third session; TCS, Infosys lead
(Reuters) - Indian shares closed higher for the third straight session on Wednesday, helped by IT stocks such as Tata Consultancy Services Ltd and Infosys Ltd, although investor sentiment was cautious ahead of the expiry of futures and options contracts later this week.
Auditor had questioned Nissan on payments to Ghosn at heart of scandal: source
TOKYO (Reuters) - Nissan Motor Co's auditor had repeatedly questioned transactions at the heart of allegations of financial misconduct by former chief Carlos Ghosn but Nissan said they were proper, a person with direct knowledge of the matter said on Wednesday.
Sensex surges over 200 pts, Nifty reclaims 10,700 mark ahead of F&O expiry
The BSE Sensex rose for the third straight session Wednesday, gaining over 200 points on short-covering ahead of November derivatives expiry and positive global cues amid rising hopes of a trade deal between the US and China. In similar movement, the broader NSE Nifty reclaimed the 10,700 level. The 30-share Sensex settled 203.81 points, or 0.57 per cent, higher at 35,716.95, while the broader NSE Nifty jumped 43.25 points, or 0.40 per cent, to finish at 10,728.85. According to analysts, positive global market and short-covering ahead of November future and options (F&O) expiry led the indices to extend their rally. "Market has largely factored the earnings downgrade post Q2 results and valuation has got more rational due to tailwinds in domestic macros," they added. The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. IndusInd Bank, RIL, PowerGrid, HDFC Bank, HDFC, ICICI Bank, Hero MotoCorp and Tata Steel were among the other gainers, advancing up to 2 ...
Arms firms show off wares as Japan eyes more F-35 stealth jets
TOKYO (Reuters) - Global arms firms showed off on Wednesday their wares in Japan as it prepared a plan to buy billions of dollars of U.S. military equipment, including at least 40 Lockheed Martin F-35 stealth fighters worth about $4 billion, four sources said.
Nifty ends above 10,700 mark
Key equity indices extended gains for third straight session and ended with decent gains. The barometer index, the S&P BSE Sensex, rose 203.81 points or 0.57% to 35,716.95, as per the provisional closing data. The Nifty 50 index rose 43.25 points or 0.40% to 10,728.85, as per the provisional closing data. Positive global cues boosted investors sentiment. The Nifty ended above the 10,700 mark. IT shares were in demand.
Asian firms set for first quarterly profit drop since mid-2016
(Reuters) - Holiday-quarter profit at Asian companies is likely to drop for the first time in more than two years, following a small rise in the July-September period, as slowing exports, falling factory output and the Sino-U.S. trade war take their toll.
ICICI bank plans to grow retail loan portfolio in FY 18-19
Private sector ICICI Bank has chalked out aggressive plans to grow its retail loan portfolio in Tamil Nadu by over 40 per cent to Rs 13,000 crore during current financial year, a top official said Wednesday. The bank also set a target on consumer loans to grow by 50 per cent in financial year 2018-19 to Rs 5,000 crore, ICICI Bank, Executive Director, Anup Bagchi told reporters here. "There is a big opportunity for us to grow the loan book by 40 per cent (in Tamil Nadu). We are targeting to disburse Rs 13,000 crore in FY19," he said. The company's home loan disbursement was likely to grow by nearly 40 per cent to Rs 3,700 crore while agri-related loans by 30 per cent to Rs 4,300 crore during the current financial year, he added. To a query, he said, the bank would increase the processing centres to 20 from the existing 15 in the state. Asked if banks would cut down on number of ATM machines, he said there was no such proposal to do so. The Confederation of ATM Industry ...
70% Indians confident about finding better opportunities: LinkedIn
Despite concerns over a "difficult jobs market", 70 per cent of people in India are confident of finding better opportunities next year, according to a LinkedIn survey on Wednesday.
Analysis: Saudi Arabia nabs new China oil demand, challenges Russia's top spot
SINGAPORE/BEIJING/DUBAI (Reuters) - Saudi Arabia is set to expand its market share in China this year for the first time since 2012, with demand stirred up by new Chinese refiners pushing the kingdom back into contention with Russia as top supplier to the world's largest oil buyer.
Market breadth turns weak
Key barometers came off day's high in mid-afternoon trade as profit selling emerged at higher levels. At 14:16 IST, the barometer index, the S&P BSE Sensex, was up 196.79 points or 0.55% at 35,709.93. The Nifty 50 index was up 34.25 points or 0.32% at 10,719.85. Sentiment, however, was strong due to positive global cues.
NCLT initiates CIRP against Ortel Communications
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Infibeam Avenues Ltd leads losers in 'A' group
Yes Bank Ltd, Shankara Building Products Ltd, REC Ltd and Power Finance Corporation Ltd are among the other losers in the BSE's 'A' group today, 28 November 2018.
Yes Bank says not involved in fund management of promoter firms
(Reuters) - Yes Bank Ltd, India's fifth largest private-sector lender by assets, said on Wednesday it was not involved with the fund management of its promoter firms YES Capital (India) Pvt Ltd and Morgan Credits Pvt Ltd. https://reut.rs/2E49Ddm
Canon India Marks Month Long Children's Day Celebrations, Motivates Young Lives to Explore Beyond Their Horizons
/ -- Staying true to its corporate philosophy of 'Kyosei' - living and working together for the common good, Canon India, marked the month of November dedicated to Children's Day celebrations. With an aim to further strengthen its dedication towards the children of the nation, the imaging marvel organized various initiatives across their adopted villages through their CSR endeavor 'Adopt a Village' and 'Learning beyond Books'. (Logo: https://mma.prnewswire.com/media/538728/Canon_India_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/790807/Canon_Celebrates_Childrens_Day.jpg ) 'Seeing and experiencing is learning in true sense', adhering by this, Canon India employees engaged with the children through exciting activities organized as a part of the celebrations, including 'Photography workshops' and 'General Knowledge' sessions for 50 children of different age groups at the SOS Village, Alibaug. The organization extended celebrations to the other adopted villages as well like the ...
Paramount Communications Ltd leads losers in 'B' group
Gokul Agro Resources Ltd, Khaitan (India) Ltd, Filatex India Ltd and TCI Developers Ltd are among the other losers in the BSE's 'B' group today, 28 November 2018.
Volumes soar at Sundaram Finance Ltd counter
Sundaram Finance Ltd recorded volume of 5.35 lakh shares by 14:14 IST on NSE, a 29.95 times surge over two-week average daily volume of 17854 shares
Copper futures up 0.47% on spot cues
Copper prices edged higher by 0.47 per cent to Rs 426.80 per kg in futures market Wednesday as speculators built up fresh positions following pick-up in demand at the spot market. At the Multi Commodity Exchange, copper for November rose by Rs 2, or 0.47 per cent, to Rs 426.80 per kg in business turnover of 6191 lots. Similarly, the metal for February was trading higher by Rs 1.95, or 0.45 per cent, to Rs 434.10 per kg in 651 lots. Market analysts said fresh positions created by traders due to up-tick in demand from consuming industries in the spot market, mainly influenced copper prices.
Xiaomi, Samsung, Realme dominated Diwali smartphone sales: Counterpoint
Three smartphone players -- Xiaomi, Samsung and Realme -- captured 57 per cent of the Indian festive sales volumes as smartphone sales in the Diwali season (October 9-November 8) grew 26 per cent year-on-year (YoY) compared to the same period last year, a new report said on Wednesday.
Silver sheds 0.31% on global cues
Taking weak cues from global markets, silver prices fell by 0.31 per cent to Rs 37,189 per kg in futures trading Wednesday as speculators trimmed their positions. At the Multi Commodity Exchange, silver for delivery in May declined by Rs 114, or 0.31 per cent to Rs 37,189 per kg in business turnover of 1 lot. Likewise, the white metal for delivery in March shed Rs 17, or 0.05 per cent to Rs 36,606 per kg in 1119 lots. Analysts attributed the fall in silver futures to off-loading of positions by traders on the back of a weak trend overseas. Globally, silver traded lower by 0.04 per cent to USD 14.12 an ounce in Singapore.
Spot demand lifts nickel futures by 0.53%
Nickel prices rose by 0.53 per cent to Rs 761.10 per kg in futures trade Wednesday as speculators raised their bets amid pick-up in demand at the spot market. At the Multi Commodity Exchange, nickel for November moved up by Rs 4, or 0.53 per cent, to Rs 761.10 per kg in business turnover of 6,418 lots. Similarly, the metal for December gained Rs 4, or 0.52 per cent, to Rs 767.50 per kg in 1,057 lots. Market analysts said, widening of positions by traders after upsurge in demand from consuming industries at the spot market, mainly led to rise in nickel prices.