Page 1753 - Business Finance
Bharti Axa Life new biz premium jumps 52% to Rs 398 cr in H1
Bharti Axa Life Insurance Thursday reported a 52 per cent jump in new business premium at Rs 398 crore in the first half of the current fiscal, against Rs 262 crore in the year-ago period. The annualised new business premium grew 65 per cent to Rs 269 crore, compared with Rs 163 crore in the same period last year, the company said in a release. Renewal premium increased by 21 per cent to Rs 453 crore, against Rs 374 crore last year, while total premium stood at Rs 851 crore, up 34 per cent from Rs 636 crore in the year-ago period. "Our focus on traditional products, cost management, customer centricity and digitisation will help us achieve qualitative performance in the journey of growth," said Vikas Seth, managing director and chief executive officer, Bharti Axa Life Insurance. The insurer's asset under management stood at Rs 4,928 crore as on September 2018, compared with Rs 4,087 crore as on September 30, 2017, a 21 per cent rise. The company said it is planning to ...
PM Modi lays foundation stone for city gas work in 122 districts
Prime Minister Narendra Modi Thursday laid foundation stones to mark the beginning of work for CNG supply to automobiles and piped cooking gas to kitchens in 129 districts of 18 states, covering over a quarter of India's population. Keen to cut emissions through a greater share of environment friendly natural gas as auto and cooking fuel, Modi also launched the 10th round of bidding for award of city gas licenses in 124 new districts, which have been clubbed into 50 Geographical Areas (GAs). ?"This is an important step in developing infrastructure," he said, adding once 10th round is completed, natural gas as fuel will cover 400 districts and 70 per cent population. Modi said households with piped cooking gas connections would reach 2 crore after network in cities awarded up to 10th round is completed. Currently there are over 32 lakh piped consumers. He said CNG stations too would more than double to 10,000. Downstream regulator Petroleum and Natural Gas Regulatory Board (PNGRB) had .
Market breadth turns negative
Key benchmark indices hovered in negative zone in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 84.53 points or 0.24% at 35,115.27. The Nifty 50 index was down 28.90 points or 0.27% at 10,571.15.
Cox & Kings Ltd leads losers in 'A' group
Vodafone Idea Ltd, Power Finance Corporation Ltd, Jain Irrigation Systems Ltd and Tata Power Company Ltd are among the other losers in the BSE's 'A' group today, 22 November 2018.
Hotel Leela Venture Ltd leads losers in 'B' group
AGC Networks Ltd, AXISCADES Engineering Technologies Ltd, Vaswani Industries Ltd and 3i Infotech Ltd are among the other losers in the BSE's 'B' group today, 22 November 2018.
Domestic LPG Consumption Grows 6.9% In First Seven Months Of This Fiscal
Powered by Capital Market - Live News
Petroleum Products Consumption Up 4% In October, Crude Oil Imports Soar To 7 Year High
Petroleum product consumption registered a growth of 4% during October 2018 and a cumulative growth of 3.5% during April-October 2018. Last year during October 2017, a growth of 4.3% and cumulative growth of 3.5% during April-October 2017 was observed. Except for SKO (-7.3%), lubes & greases (-4.9%), FO/LSHS(-0.7%) and petcoke (-11%),all other products registered positive growth during October 2018.
Cumulative Crude Oil Output Down 3.65% Over Year In April-October 2018
Domestic Crude oil production during October, 2018 was 2885.20TMT which is 8.07% lower than target and 5.03% lower when compared with October, 2017. Cumulative crude oil production during April-October, 2018 was 20294.59 TMT which is 4.65% lower than target for the period and 3.65% lower than production during corresponding period of last year.
China will open but only gradually, China's German ambassador says
BERLIN (Reuters) - China's ambassador to Germany told the newspaper Die Welt that his country's ties to Germany were closer than to any other European country, but that it still could not fully open its market to foreign partners.
Gold rises as dollar dips and equities slide into red
BENGALURU (Reuters) - Gold prices crept higher on Thursday towards a two-week peak scaled in the previous session, helped by an easing dollar and as investors sought refuge from weakness in financial markets on economic growth concerns.
Norway's Equinor strikes Malaysia LPG deal with Global Petro Storage
OSLO (Reuters) - Equinor and Global Petro Storage (GPS) have entered into a long-term agreement to build and operate a terminal and storage facility for liquefied petroleum gas (LPG) in Malaysia, the Norwegian company said on Thursday.
UK markets watchdog to cap price of rent-to-own goods
LONDON (Reuters) - On the eve of Black Friday, Britain's markets watchdog said it intends to cap the prices people pay for televisions, washing machines and other household goods bought on rent-to-own credit from next April.
Sensex continues its losing streak, falls 800 points in three days
India's key equity indices surrendered the gains, extending losses for a third straight session on Thursday amid uncertainity due to the ongoing state elections.
Rupee hits near 12-week high; traders say RBI not seen in market
MUMBAI (Reuters) - The Indian rupee rose to its highest in almost 12 weeks on Thursday as global oil prices eased further.
Tech fund redemptions of $1.5 billion biggest since February 2015 - BAML
(Reuters) - Redemptions from technology stocks totalled $1.5 billion in the past week, the biggest since February 2015, Bank of America Merrill Lynch said on Thursday, citing data from EPFR Global.
Kovind asks Australian biz community to increase investments in India
Lamenting that Australian businesses were not so visible in India, President Ram Nath Kovind on Thursday asked them to make efforts to address this "gap" and increase their investments in the country which offers them the prospect of "considerable returns". Addressing the Australian business community in Sydney in presence of Prime Minister Scott Morrison, Kovind said the two countries can collaborate and benefit each other in areas of finance, logistics, industrial design, biotech, capital markets, farming, food and space technology. "Australia and India have too much at stake in each other to not up their game," he said. "The Indian market offers the Australian investors a huge consumer base and the prospects of considerable returns." He said it was not that Australian companies were not present in India but there is enormous room for the two sides to work together. "Frankly, the big country and the big friend that we are not seeing as much of in the India investment story is ...
Nifty, Sensex end lower; Mahindra and Mahindra top loser
(Reuters) - Indian shares erased early gains to end lower on Thursday due to broad-based losses across the sectors, with automaker Mahindra and Mahindra Ltd being the top loser on both the indexes.
Global Markets: European stocks drop after tech reboot fails
LONDON (Reuters) - Europe's share markets dropped back into the red on Thursday as investor worries mounted about slowing global growth in the face of rising U.S. interest rates and trade tensions.
Market erases early gains, Sensex falls over 200 pts
The BSE Sensex gave up all its early gains in choppy trade Thursday and ended lower for the third straight session by falling over 200 points due to selling in metal, PSU, auto and banking stocks amid fresh fund outflows and a weak trend in the global market. The 30-share Sensex opened higher at 35,282.33 points and advanced further to the day's high of 35,364.50 on the back of fresh buying by domestic investors amid further strength in the rupee. It, however, slipped into the negative zone on selling pressure at improved levels, following a weak opening of European equities, and slipped below the 35,000-mark to hit a low of 34,937.98 before closing at 34,981.02, recording a fall of 218.78 points, or 0.62 per cent. The gauge had lost 575 points in the previous two sessions. Similarly, NSE Nifty 73.30 points, or 0.69 per cent, to close at 10,526.75. The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points ...
Nestle to tap inorganic growth through meaningful opportunities: CEO
Nestle, believed to be in race to acquire GlaxoSmithKline's consumer nutrition business including the Horlicks brand, will continue to tap inorganic growth for gaining additional market share, if it finds meaningful opportunities, a top company official said. However, when asked about reports over Nestle's bid for GlaxoSmithKline's (GSK) nutrition business portfolio, the company declined to comment. "Acquisitions we have been pursuing everywhere over the years. Its part of our business model of being a growing company and gaining additional market presence. So when there are prudent meaningful opportunities, we are interested," said Nestle CEO Mark Schneider. Nestle, which has a growth target of "mid single digit in 2020", said it strongly believes in organic growth, and considers this as a 'lifeblood'. When asked about the development over GSK consumer nutrition business, he said: On those specifics we are not commenting. On the India business, which is one of the 'key markets' for ..