Page 1718 - Business Finance
J-K panchayat polls: Budgam clocks highest voter turnout till 10 am
Notwithstanding terror threats and boycott calls by two major political parties of the region, the National Conference (NC) and the Peoples Democratic Party (PDP), voters have come out in large numbers to exercise their franchise in the fourth phase of the panchayat polls being held in the state. Security has been heightened across the state for peaceful elections and majority of the candidates have been provided with security.Till 10 am, Budgam witnessed the highest voter turnout of 29.1 per cent in Beerwah and Waterhail blocks, Baramulla saw 26.8 per cent voter turnout in Bijhama and Wailoo blocks and Kishtwar district registered 26.8 per cent.Poonch, Kathua and Rajouri districts have recorded 26.1 per cent, 26 per cent and 23.2 per cent voter turnout, respectively. Ramban witnessed 22.8 per cent turnout while Doda registered 21.7 per cent turnout.However, the voting percentage was abysmally low in Kulgam, Bandipora, Anantnag and Pulwama, with voter turnouts of 3.7 per cent, 3.2 per
Demand Slowdown To Weigh On Economy In September Quarter
India's Gross Domestic Product (GDP) growth in the September quarter is expected to ease to 7.5-7.6% mainly due to slowdown in rural demand, a State Bank of India (SBI) research report said Monday. The GDP growth at constant prices (2011-12) was 8.2% in the April-June quarter of 2018-19.
Sensex, Nifty hit day's high
Fresh buying in index pivotals pushed the key benchmark indices to intraday high in afternoon trade. At 13:21 IST, the barometer index, the S&P BSE Sensex, was up 113.37 points or 0.32% at 35,467.45. The Nifty 50 index was up 37.10 points or 0.35% at 10,665.70.
Toyota Kirloskar mulls hike in price of vehicles by 4%
: Automobile company Toyota Kirloskar Motor is considering to increase the price of its products by upto 4 per cent from January 1, 2019 in view of rising manufacturing costs. After periodically reviewing the continuous pressure of increasing manufacturing costs because of rupee depreciation, the company intends to hike the price of vehicles, a press release said here. Toyota Kirloskar has been absorbing additional costs all this while and protecting the customers from the spurt in prices, the release said. "But, the pressure of cost in manufacturing has been so much that we have to pass it on to the customers," the release added. The company has two plants in Bidadi on the outskirts of the city and they manufacture Innova, Fortuner, Corolla Altis, Toyota Yaris, Etios, Etios Liva, Etios Cross, Camry and Camry Hybrid. The factories have a production capacity of 3.1 lakh units annually.
HSBC warms up to India ahead of general polls
(Reuters) - Brokerage firm HSBC upgraded Indian equities to "neutral" from "underweight" on Tuesday, saying valuations were more reasonable, investors' holdings were very low and strong earnings growth would continue next year.
Thomas Cook cuts profit forecast, suspends dividend on weak British market
LONDON (Reuters) - Thomas Cook cut its forecast for full-year underlying operating profit for the second time in two months on Tuesday and suspended its dividend after the hot British summer deterred holidaymakers from going abroad.
Analysis - Dismantling the oil industry: rough North Sea waters test new ideas
LONDON (Reuters) - Scottish marine salvage group Ardent is adapting the tanksit used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms.
Lupin gets 1 observation from USFDA for Tarapur facility
Drug firm Lupin Tuesday said it has received an observation in the establishment inspection report (EIR) given by the US health regulator for its Tarapur facility in Maharashtra. The inspection, conducted by the United States Food and Drug Administration (USFDA) between August 27 and August 31, concluded with an inspectional observation, Lupin said in a statement. "For Lupin, meeting and exceeding global quality and procedural standards has always been paramount. We are committed to upholding the highest levels of quality and compliance standards across all our facilities," said Lupin Managing Director Nilesh Gupta. Founded in 1992, the Tarapur facility manufactures active pharmaceuticals ingredients, the company said. Shares of Lupin were trading at Rs 854.00 per scrip on the BSE, up 1.09 per cent from its previous close.
Tata Elxsi Ltd rises for third consecutive session
The stock is quoting at Rs 1009.25, up 1.52% on the day as on 12:49 IST on the NSE. Tata Elxsi Ltd is up 4.46% in last one year as compared to a 2.4% spurt in NIFTY and a 25.12% spurt in the Nifty IT index.
Infosys Ltd spurts 1.91%, rises for third straight session
The stock is quoting at Rs 633.3, up 1.91% on the day as on 12:49 IST on the NSE. Infosys Ltd is up 28.63% in last one year as compared to a 2.4% gain in NIFTY and a 25.12% gain in the Nifty IT index.
Motherson Sumi Systems Ltd spurts 2.46%, rises for third straight session
The stock is quoting at Rs 160.65, up 2.46% on the day as on 12:49 IST on the NSE. Motherson Sumi Systems Ltd is down 33.29% in last one year as compared to a 2.4% gain in NIFTY and a 19.97% gain in the Nifty Auto index.
Govt, RBI should have continuous dialogue to address problems affecting economy: VP Naidu
In apparent reference to the recent spat between the government and the Reserve Bank, Vice President M Venkaiah Naidu Tuesday said there should be a regular dialogue between the two in the boardroom to arrive at solutions to address problems affecting economy. Referring to the issue of liquidity crunch, Naidu said the problem was because few "black sheep" who have taken the system for ride, affecting the entire industry. "All of us have to introspect. Politicians... and the industry. A few people.. have taken the system for a ride and banks lent money left and right... "RBI was not doing things at that time and now they have tightened everything, so there are there are problems...," he said. Naidu said these problems have to analysed and understood. The Reserve Bank of India (RBI) and the government of India must have a regular continuous dialogue. "There is no question of who is powerful or who is final. Final are the people and their interest. All these systems are created to ...
Refined soya oil futures slide 0.7 per cent on adequate stocks
Refined soya oil prices eased by 0.7 per cent to Rs 713.9 per 10 kg in futures trade as speculators trimmed bets, triggered by adequate stocks at spot market. At the National Commodity and Derivatives Exchange, refined soya oil for January 2019 declined by Rs 0.1, or 0.7 per cent, to Rs 713.9 per 10 kg with an open interest of 53,950 lots. Likewise, the oil for fell by Rs 0.21, or 1.25 per cent, to Rs 710.5 per 10 kg in 9,760 lots. Market analysts said, cutting down of positions by participants due to decline in demand against ample stocks mainly influenced the prices.
Thomas Cook cuts profit forecast again due to weak British market
LONDON (Reuters) - British holiday company Thomas Cook cut its forecast for full-year underlying operating profit on Tuesday, the second downgrade in two months, and suspended its dividend due to a particularly weak home market.
Japan's Line ties up with Tencent, Mizuho; shares jump
TOKYO (Reuters) - Japanese chat app operator Line Corp announced a tie-up with China's Tencent Holdings to offer mobile payment services, and plans to set up a bank with Mizuho Financial Group Inc, sending its shares up 13 percent on Tuesday.
Large Companies Must Borrow 25% Though Corporate Bonds Market From Next Fiscal Say SEBI
From next fiscal year, large corporates have to raise 25%of their incremental borrowings only through the corporate bonds market, Securities Exchange Board Of India (SEBI) stated in a latest circular.
MoMagic fully acquires AdGyde from Spice Mobility
AdGyde provides real-time mobile app analytics and monitors analytical data about app installs and in-app user behaviour
Bahrain EDB pitches for closer economic ties with India; keen to tap fin-tech sector
Bahrain's investment promotion agency Economic Development Board (EDB) has called for closer economic ties with India, as it looks to shore up the tourism sector and establish itself as a financial as well as fin-tech hub in the GCC region. India and Bahrain have a longstanding economic and trade relationship. A large number of Indian businesses have already established operations in Bahrain. Seeking to strengthen and further build economic ties, Bahrain EDB has established international offices in both New Delhi and Mumbai," said EDB Managing Director Simon Galpin. "We are looking at regular visits to India in 2019, starting this December," Simon said. The gulf country is also looking to attract Indian tech companies in financial sector and offers various incentives to them for setting up business in Bahrain. It is also working with some Indian states on cooperation and development of the fin-tech sector and is looking to sign some MoUs either in December or next year. The EDB ...
Gold subdued ahead of Fed Chair speech, G20 summit
BENGALURU (Reuters) - Gold prices inched lower on Tuesday as the dollar held firm, while investors awaited clues on the pace of future U.S. interest rate hikes and as the U.S.-China trade spat sours ahead of a G20 summit.
Analysis: Dismantling the oil industry: rough North Sea waters test new ideas
LONDON (Reuters) - Scottish marine salvage group Ardent is adapting the tanksit used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms.