Page 1719 - Business Finance
Turmeric futures surge 0.12 pc on spot demand
Turmeric prices were trading up by 0.12 per cent to Rs 6,414 per quintal in futures trade Wednesday as participants built up fresh positions, mainly driven by uptick in domestic and export demand in the spot market. Besides, limited arrivals from major producing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in December was trading higher by Rs 30, or 0.46 per cent, to Rs 6,526 per quintal with an open interest of 1,195 lots. Similarly, the spice for delivery in far-month April 2019 increased by Rs 4, or 0.06 per cent, to Rs 6,470 per quintal, in an open interest of 12,490 lots.
Ministry of Housing Launches Paisa - Portal for Affordable Credit & Interest Subvention Access
A centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM) named "PAiSA - Portal for Affordable Credit and Interest Subvention Access", was launched yesterday. The web platform has been designed and developed by Allahabad Bank which is the Nodal bank. Launching the portal, Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs said , "PAiSA is yet another effort by the government to connect directly with the beneficiaries, ensuring that there is greater transparency and efficiency in delivery of services. DBT of subvention on monthly basis under DAY-NULM will give the necessary financial support to small entrepreneurs in a timely manner".
Maruti Suzuki's iconic brand Swift celebrates its two million sales
India's first premium hatchback is constantly being refreshed to match the changing aspirations of its evolving young customers. The third generation Swift launched in the Auto Expo 2018 retains its symbolic character, taking its global design language to the next level.
Hotel Leela Venture Ltd leads gainers in 'B' group
Paramount Communications Ltd, Brightcom Group Ltd, Agri-Tech (India) Ltd and MIRC Electronics Ltd are among the other gainers in the BSE's 'B' group today, 27 November 2018.
Govt may consider up to Rs 6Kcr greenshoe option in CPSE ETF
The government is considering exercising greenshoe option worth Rs 4,000-6,000 crore in the Central Public Sector Enterprises - Exchange Traded Fund (CPSE ETF FF03) over the base issue size of Rs 8,000 crore. CPSE ETF, which works like a mutual fund scheme, is an instrument with which the government divests its stake in the CPSEs without hitting the secondary market directly with individual PSUs. "The base issue size in the fourth round of CPSE ETF issue is Rs 8,000 crore and this time a greenshoe option has been kept which may be between Rs 4,000 crore and Rs 6,000 crore. However, the government is yet to decide on this," Reliance Nippon Life AMC Co-Chief Business Officer Saugata Chatterjee said. Reliance Nippon Life AMC is the manager of the fourth tranche of the CPSE ETF. The target amount is the highest compared to the three previous issues of the ETF. In the new fund offer (NFO) in 2014, the issue size was Rs 3,000 crore, the first Further Fund Offer (FFO1) size ...
Sun Pharma slumps after overseas acquisition
Sun Pharmaceutical Industries lost 5.07% to Rs 484.75 at 11:45 IST on BSE, with the stock reversing initial gains triggered after announcing acquisition of Pola Pharma in Japan.
Location's the name of the game in competitiveness (Column Active Voice)
In this globalised world, there are many voices cheerleading the belief that location holds no relevance in competition. This view, that globalisation, escalated by advances in technology, has created a borderless world is based on two phenomena -- tradability and codification.
Coriander dips 0.76% on subdued demand
Coriander prices fell 0.76 per cent to Rs 6,145 a quintal in futures market Monday as participants cut down positions amid muted domestic as well as export demand against ample stocks position. Besides, rising arrivals from major producing regions and profit-booking at higher levels weighed on the sentiment. At the National Commodity and Derivatives Exchange, coriander prices for delivery in far-month December declined by Rs 47, or 0.76 per cent, to Rs 6,145 per quintal with an open interest of 9,460 lots. On similar lines, rates for January was trading at Rs 6,190, down by 0.23 per cent or Rs 14. The open interest of the contract stood at 22,240 lots. Analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.
Saya Homes sells properties worth Rs 120 cr in festive season
Ghaziabad-based realty firm Saya Homes Tuesday said it has sold properties worth Rs 120 crore during the festive season in its two housing projects in Delhi-NCR on rising demand for ready-to-move-in flats. The company also said it plans to launch a luxury housing project in Indirapuram and will also enter into commercial real estate segment with a project in Greater Noida West. Saya group has so far completed two housing projects in Ghaziabad. It is developing a housing project 'Saya Gold Avenue' in Indirapuram comprising 1,600 units with an investment of about Rs 1,200 crore. In mid 2015, the company raised Rs 200 crore from financial services firm Edelweiss group to fund this project, which is almost complete. Its another project 'Saya Zion' in Greater Noida West, known as Noida Extension, comprising 680 units, has recently got completion certificate. "During the recently concluded festive season, the company booked 75 housing units in its Indirapuram based project Saya Gold Avenue .
V I P Industries Ltd leads gainers in 'A' group
Kwality Ltd, Vakrangee Ltd, Hindustan Construction Company Ltd and Navin Fluorine International Limited are among the other gainers in the BSE's 'A' group today, 27 November 2018.
Castor seed prices dip by Rs 60
Castor seed prices dipped by Rs 60 to Rs 5,480 per quintal in futures trade Tuesday after investors widened their bets amid firm trends. At the National Commodity and Derivatives Exchange, castor seed for December was trading higher by Rs 60, or 1.08 per cent, to Rs 5,480 per quintal. Castor seed for January next year, too, dipped by Rs 48, or 0.85 per cent, to Rs 5,572 per quintal, having an open interest of 3,200 lots.
Chana futures climb on strong spot demand
Chana prices shot up by 0.36 per cent to Rs 4,676 per quintal in futures trade Tuesday as speculators built up fresh positions, supported by uptick in demand from dal mills at spot markets. At the National Commodity and Derivatives Exchange, chana for delivery in December was trading higher by Rs 17, or 0.36 per cent at Rs 4,676 per quintal with an open interest of 6,080 lots. Chana to be delivered in January next year, too, was trading higher by Rs 20, or 0.43 per cent, at Rs 4,678 per quintal in 51,560 lots. The rise in chana prices at futures trade was mostly attributed to speculative positions created by participants, triggered by a firm trend at the spot markets on the back of strong demand from dal mills, analysts said.
Exclusive: Deutsche Telekom to win EU nod for Dutch Tele2 deal, shares jump
BRUSSELS (Reuters) - Deutsche Telekom will win unconditional EU antitrust approval to buy Tele2's Dutch business, sources familiar with the matter said on Monday, sending telecoms shares higher on hopes of more flexible regulation on consolidation.
Nifty, Sensex flat as metals drag; F&O expiry, economic data eyed
(Reuters) - Indian shares were little changed on Tuesday, pulled lower by metal stocks after Morgan Stanley cut ratings on a few resource-based companies, while large-cap stocks offset the losses.
Party's over: As margins tumble, China steel mills brace for hard times
MANILA/BEIJING (Reuters) - Chinese steel producers ran up losses for the first time in three years this month as prices slid into a bear market on weak demand and near-record supply, ending years of solid profit margins.
Market breadth turns negative
Key equity indices came off day's high and were trading near flat line in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 4.34 points or 0.01% at 35,349.74. The Nifty 50 index was down 11.20 points or 0.11% at 10,617.40.
Gold up by Rs 46 in futures trade on steady demand
Gold pries edged up by Rs 46 to Rs 30,593 per 10 grams at the futures market on Tuesday as participants widened their bets even as metal weakened overseas. At the Multi Commodity Exchange, gold to be delivered in December up by Rs 46, or 0.15 per cent to trade at Rs 30,593 per 10 grams in a business turnover of 89 lots. According to analysts, raising of bets by speculators at current levels mainly pushed up gold prices at futures trade here but a subdued trend overseas, limited the gains. Gold demand in India, the second biggest gold consumer after China, usually picks up towards the end of the year going into the wedding and festival season. Traders expect the recent fall in domestic gold prices to perk up demand. In global markets, gold prices remained steady today as investors looked to the G20 meeting this week for signs of a thaw in the China-US trade conflict. Spot gold prices inched 0.1% higher to $1,223.31 per ounce while US gold futures were up about 0.1% at $1,223.8 per ...
Mitsubishi Motors exec stresses importance of alliance with Nissan, Renault
OKAZAKI, Japan (Reuters) - A top executive at Mitsubishi Motors Corp said on Tuesday that the days of a single automaker being able to develop new technologies on its own were fading, stressing the importance of its alliance with Nissan Motor Co and Renault SA.
China's industrial profit growth slows for sixth month, seen weakening further
BEIJING (Reuters) - Profit growth at China's industrial firms cooled for a sixth straight month in October as factory prices and the pace of sales increases softened amid mounting uncertainties stemming from the U.S.-China trade war.
US stocks end with good gains
Retail shares rallied on expectations of strong sales