Page 1734 - Business Finance

Global cues, rupee, oil to dictate market trend: Experts

Stock markets may face volatile trading sessions this week and would be guided by global cues, movement of the rupee and crude oil prices, experts said. Participants would also be keenly awaiting the GDP data for the September quarter to be released Friday, they added. "The major event for the Indian equity market would be the GDP data that is eyed at the end of this month along with expiry. The numbers would certainly give a medium-term directional view for broader indices and decide the breadth for coming months. "That said, we have elections in major states and a lot would depend on the outcome of it," said Mustafa Nadeem, CEO, Epic Research. Trend in the Indian currency and crude oil prices would also continue to influence trading sentiments, they said. "This week markets are expected to be range-bound, moodless with downward bias. The next trigger is expected to be in the 2nd week of December with election outcome which might give some direction to the market. But till that time .

On Black Friday, more U.S. shoppers chose the computer over the mall

NEW YORK (Reuters) - The Thanksgiving Day and Black Friday kickoff of the U.S. holiday shopping season showed the increasing preference for online purchases, as more Americans opted to stay home and use their smartphones while sales and traffic at brick-and-mortar stores declined.

Exclusive: Rosneft's Sechin flies to Venezuela, rebukes Maduro over oil shipments

WASHINGTON/MEXICO CITY (Reuters) - The head of Russian oil company Rosneft, Igor Sechin, flew to Caracas this week to meet Venezuelan President Nicolas Maduro and complain over delayed oil shipments designed to repay loans, two sources briefed on the conversation said on Saturday.

Bharat Electronics wins CII-Exim Bank Business Award

State-run Bharat Electronics Ltd (BEL) on Saturday won the CII-Exim Bank Business Excellence Award and the jury's commendation for being a role-model organisation.

MMRDA awards Rs 30 bn contract to BEML for rolling stock on 3 corridors

The contract was awarded to BEML at lowest cost in the country at rake per car of Rs 79.8 billion, excluding taxes

Mahindra drives in premium SUV Alturas G4; prices start at Rs 26.95 lakh

Utility vehicles major Manindra & Mahindra (M&M) Saturday forayed into premium SUV space with the launch of Alturas G4 priced between Rs 26.95 lakh and Rs 29.95 lakh (ex-showroom). The company, which already sells models like XUV500 and Scorpio in this segment, is aiming to sell around 450-500 units per month of the new model per month. "The launch of the Alturas G4 is a significant moment in the automotive journey of Mahindra which will take the brand to the next level," M&M Managing Director Pawan Goenka told reporters here. With the Alturas G4, the company has decided to adopt an endorsed brand strategy which will heighten brand desirability and aspiration, he added. The company has put a price tag of Rs 26.95 lakh for two-wheel drive version of this premium SUV, while its four-wheel drive variant will cost for Rs 29.95 lakh. "The product is the epitome of luxury in every sense. Therefore we believe the Alturas G4 aptly redefines royalty which is also its positioning," .

Two revenue officials face action for illegal property transfer

The Haryana government has ordered suspension of a revenue official and action against another retired official for flouting rules in transfer of flats and plots meant for poor families.

'SAC decision aimed at promoting good governance, transparency in JK Bank'

The Governor's Administration Saturday made it clear that the government has no intention of interfering in the day-to-day affairs of the J&K Bank and the lender will continue to be regulated by the Reserve Bank of India. It said the latest decision taken by the State Administrative Council (SAC) is only aimed at promoting good governance and transparency in the functioning of the bank. "Extension of RTI Act and CVC guidelines is only aimed at promoting good governance and transparency in the functioning of the bank, as this premiere financial institution has often been questioned on both these counts by the general public," an official spokesman said. He said while concerns have been raised in certain isolated quarters, people of the state by and large have hailed the decision across the board as a welcome step. "The concerns raised by certain isolated quarters mainly relate to the operational autonomy of the bank," the spokesman said. He clarified that the State Administrative ..

Haryana MC Poll: Candidates to maintain expenditure account

The State Election Commission (SEC) of Haryana has directed that all contesting candidates in the ensuing Municipal Corporation and Municipal Committees polls are required to maintain account of election expenditure and submit the details within 30 days from the date of declaration of the result of the election to the Deputy Commissioner or an officer authorized by the SEC, failing which the defaulting candidate will be liable to be disqualified under Section 8E of the Haryana Municipal Corporation Act, 1994 and Haryana Municipal Corporation Election Expenditure (Maintenance and submission of accounts), Order, 2018, for a period of five years.While stating this here on Saturday, a spokesman of the SEC said in a statement that the Commission has announced schedule for general elections in five Municipal Corporations and two Municipal committees in the state on November 22, 2018. Polling in these municipal institutions would be held on December 16, 2018. The general elections of seats ..

FIRs against Chennai-based firm for causing Rs 364-cr loss to 3 banks

The Bank Security & Frauds Cell (BS&FC) of the Central Bureau of Investigation (CBI) has filed three FIRs against Chennai-based Best & Crompton Engineering Projects Ltd (BCEPL) for causing Rs 364 crore loss to three public sector banks in a fraudulent manner.The three state-run lenders which have suffered the losses are Central Bank of India (Rs 133 crore), Andhra Bank (Rs 71 crore), and Corporation Bank (Rs 159 crore). BCEPL had allegedly obtained loans from the three banks via falsification of accounts and submission of faulty statements.Based on the banks' complaints, the Enforcement Directorate (ED) had conducted searches last month at residential and office premises of the key officials of BCEPL at Chennai, Bengaluru, and Hyderabad. During the search proceedings, certain incriminating documents were recovered and seized for further investigation.In addition, the ED inquiry resulted in the recovery and seizure of 126 rubber stamps of various shell companies from the ...

Kashmir records 55.70 pc, Jammu region 83 pc in third phase panchayat polls

Kashmir recorded 55.70 per cent voting while Jammu region witnessed an impressive turnout of 83 per cent on Saturday in the third phase of the panchayat elections in the state where a retired Army captain was killed in a clash between rival groups at a polling station. The trend of high voter turnout in the panchayat polls continued despite militant threats and boycott by main regional parties - the National Conference and the Peoples Democratic Party. Chief Electoral Officer (CEO) Shaleen Kabra said the state recorded over 75 per cent of polling as 3.20 lakh electorate exercised their franchise in the third phase of the panchayat elections Saturday. Honorary captain (retd) Mohd Hafiz, 60, was killed and several others were injured after a heated argument between two groups turned violent at a polling station in Joura panchayat of Block Kahara in Doda district, police said. Two of the injured were critical and shifted to a local hospital at Kahara, Bhaderwah ASP Rajinder Singh ...

Jio achieves highest Q2 revenue market share in Odisha

Reliance Jio has achieved 38.6 per cent revenue market share in Odisha during the July-September period of 2018, which is the highest among all states, a Telecom Regulatory Authority of India (TRAI) report said. Referring to the rise in Jio's revenue market share, a company official said Reliance Industries' Chairman Mukesh Ambani during his address at the recent 'Make In Odisha' conclave in Bhubaneswar, had mentioned about Jio having the widest 4G network coverage in Odisha covering all towns and over 43,000 villages in the state. "In the past eight months, several million villagers in Odisha have got affordable smartphones. Their lives are being digitally transformed and empowered," he said. The TRAI report shows Reliance Jio's revenue market share in Odisha during the quarter was followed by Airtel with Rs 333.49 crore gross revenue (38.2 per cent), Vodafone Idea Rs 138.90 crore (15.9 per cent), BSNL Rs 52.4 crore (6 per cent), Tata Teleservices Rs 10.71 crore and ...

Bengal can attract Rs 5000 cr investment in logistics by 2020: Minister

Seeking suggestions from prospective investors to make its newly-announced logistics policy more investor-friendly, West Bengal Finance and Industry Minister Amit Mitra on Saturday said the state, according to a report, could attract about Rs 5000 investment in the logistics hub by 2020.

Petrol, diesel prices continue to decline

Domestic fuel prices continued to decline on Saturday in line with the downward trend in Brent crude oil price, which fell below the $60 per-barrel- mark.

Global growth concerns, domestic politics drag equities lower (Market Review)

A global equities sell-off, and domestic political uncertainty hurt investor confidence, triggering a decline in Indian equities during the week ended November 23.

Govt does not need extra funds from RBI to meet fiscal deficit target: Jaitley

Finance Minister Arun Jaitley has said the government does not need any extra funds from the Reserve Bank or any other institution to meet the fiscal deficit target. However, he added that extra funds, which may accrue from the new capital framework of the Reserve Bank, can always be used for poverty alleviation programmes over the years by future governments. "We don't need any extra funds from any other institution to finance our fiscal deficit. Let's be very clear that's not the intention of the government. And we are not saying that in next six months give me some money. I don't need it, the minister said in an interview to TV channel Times Now. India's fiscal deficit is slated to come down to 3.3 per cent of GDP at the end of the current fiscal. Responding to criticism that the government was eyeing RBI's reserves, Jaitley said globally central banks have a capital framework which determines the amount of funds that ought to be maintained as reserves. "All we are saying is there .

Indonesia to sign free trade deal with EFTA countries in December

JAKARTA (Reuters) - Indonesia has wrapped up negotiations for a free trade and investment pact with members of the four-nation European Free Trade Association, and a final agreement is due to be signed in December, Indonesia's trade minister said.

Belden Inc. inaugurates manufacturing unit in India; targets new markets

Belden Inc., a global leader in signal transmission and security solutions for mission-critical application in enterprise and industrial markets has opened its state-of-the-art manufacturing facility at Chakan.Spread over 24,000 square meters, the total investment in the facility is Rs. 250 crore ($35 million USD). The facility has been established with support from the Mega Project program of the Government of India and is credited with being the first truly 'One Belden' factory, with capabilities to serve multiple customer markets and applications of the Belden group of brands.The global leader aims to provide customers in the region, who are investing in increasingly sophisticated automation, with a single-point solution for mission-critical signal transmission and management requirements."With this mega project, Belden seeks to address the fast evolving needs of Indian customers for mission critical applications in the transportation, energy, smart buildings, process automation, ..

Creative Peripherals & Distribution standalone net profit rises 28.05% in the September 2018 quarter

Sales rise 29.13% to Rs 79.00 crore

Shiva Medicare reports standalone net loss of Rs 0.32 crore in the September 2018 quarter

Reported sales nil