Page 1840 - Business Finance
Sensex up 160 points on rupee recovery, healthy trade data
Broadly positive global markets, healthy macro-economic trade data along with a slight recovery in rupee guided the advances in the key Indian equity indices during the afternoon trade session on Friday.
India Fashion Week to launch Gen-Z, a platform for budding designers
The India Fashion Week, in its Autumn Winter'19 season to be held here next year, will launch Gen-Z, a dedicated platform for budding designers from the country.
South Indian Bank Ltd eases for fifth straight session
The stock is quoting at Rs 14.5, down 1.02% on the day as on 13:19 IST on the NSE. South Indian Bank Ltd tumbled 52.54% in last one year as compared to a 3.92% rally in NIFTY and a 5.4% spurt in the Nifty Private Bank index.
Central Bank of India drops for fifth straight session
The stock is quoting at Rs 30.5, down 0.16% on the day as on 13:19 IST on the NSE. Central Bank of India tumbled 71.72% in last one year as compared to a 3.92% rally in NIFTY and a 26.94% spurt in the Nifty PSU Bank index.
Infibeam Avenues Ltd down for fifth straight session
The stock is quoting at Rs 50.95, down 3.14% on the day as on 13:19 IST on the NSE. Infibeam Avenues Ltd tumbled 71.72% in last one year as compared to a 3.92% rally in NIFTY and a 29.75% spurt in the Nifty IT index.
Trade Deficit Widens To $17.13 Bn As Against $14.61 Bn Last Year
Exports in October 2018 were US $ 26.98 Billion, as compared to US$22.89 Billion in October 2017, exhibiting a positive growth of 17.86%. In Rupee terms, exports were Rs 1,98,634.84 Crore in October 2018, as compared to Rs 1,48,962.64 Crore in October 2017, registering a positive growth of 33.35%. Cumulative value of exports for the period April-October 2018-19 was US$ 191.01 Billion (Rs 13,23,940.28 Crore) as against US$ 168.64 Billion (Rs 10,87,270.47 Crore) during the period April-October 2017-18, registering a positive growth of 13.27 %in Dollar terms (21.77% in Rupee terms).
Turmeric futures up 1.21% on spot demand
Turmeric prices rose by 1.21 per cent to Rs 6,844 per quintal in futures trade Friday as participants raised their positions, driven by pick-up in demand at the spot market. At the National Commodity and Derivatives Exchange, turmeric for April next year moved up by Rs 82, or 1.21 per cent, to Rs 6,844 per quintal with an open interest of 10,460 lots. The spice for December also advanced by Rs 24, or 0.36 per cent, to Rs 6,628 per quintal with an open interest of 13,085 lots. Marketmen said speculative positions created by participants, driven by strong domestic as well as exports demand in the spot market, mainly attributed the rise in turmeric prices.
Oil rises on expected OPEC cuts, though surging U.S. supply still weighs
SINGAPORE (Reuters) - Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged.
Innovation in agri sector key to cutting wastage, boosting production: Prabhu
Commerce and Industry Minister Suresh Prabhu Friday said innovation in agri sector was important for reducing wastage, increasing production, and cutting fertiliser use to enhance soil fertility. He said that huge opportunities exist for startups in the agri sector to promote growth. "We are promoting innovation in agri sector," he said adding that changing climate would pose serious challenges to the sector, and startups can look at these areas and come up with innovative solutions. "Innovation and new ideas by startups can play a major role in the sector," the minister said. He also informed that the ministry will be holding a meeting of global funds and startups here on December 7. "We are working on a comprehensive strategy to promote startups," he said. On January 2016, Prime Minister Narendra Modi unveiled several incentives to boost startups, offering them a tax holiday, inspector raj-free regime and capital gains tax exemption as part of the startup action plan. Speaking at a .
Prozone Intu Delivers Strong Quarterly Growth for Q2 FY2019
/ -- Key Highlights for Q2 FY2019 Strong revenue growth, up 132% QoQ Highest ever EBITDA at Rs 225 mn, with margin of 51.6% PAT turned positive after many quarters Strong operating performance: Leasing of 89% at Coimbatore Mall & 83% at Aurangabad Mall Strong Balance Sheet with low leverage of 0.4x Prozone Intu Properties Limited (PIPL), India's leading retail led mixed-use developer, announced the financial results on November 14, 2018 for the second quarter and half year ended on September 30, 2018, as approved by its Board of Directors. Commenting on its performance, Nikhil Chaturvedi, Managing Director, Prozone Intu, said, "Prozone Intu is consistently delivering improvements in the operations at the Aurangabad and Coimbatore malls. We are witnessing consistently increasing footfalls and consumption at our malls. In August, the Aurangabad Mall witnessed one of highest ever footfall in a single day. Currently, the leasing rate at both Aurangabad and Coimbatore stand at 83%
Zinc futures up 0.50% on spot demand
Zinc futures traded higher by 0.50 per cent to Rs 189.25 per kg Friday as speculators widened their positions following up-tick in demand at the spot markets amid firm global cues. At the Multi Commodity Exchange, zinc for November rose by 95 paise, or 0.50 per cent, to Rs 189.25 per kg in a business turnover of 448 lots. Market analysts said the rise in prices in futures trade was mostly supported by raising of bets by participants and a firm trend in global market.
Jet Airways climbs 14% ahead of Tata Sons board meet
Shares of Jet Airways Friday surged over 14 per cent on bourses ahead of a meeting of Tata Sons' board, which is likely to discuss buyout of the cash-strapped airline. The stock cracked nearly 7 per cent to hit a low of Rs 299.75 apiece in morning trade. It recovered from its opening losses and rose to an intra-day high of Rs 356.60, which is 11.23 per cent higher from the previous close. At the National Stock Exchange, the shares of the airline rose as much as 14.35 per cent to an intra-day high of Rs 366.95. "Tata Sons board is meeting Friday to consider the proposal to bid for Jet Airways," people in the know of the development had told PTI. On Thursday, shares of Jet Airways had zoomed up to 26 per cent on bourses. A section of media had reported that Tata group was conducting due diligence of Jet Airways to buy the full-service carrier from its owner, Naresh Goyal. Jet Airways, however, termed media reports of Tata group carrying out due diligence to acquire the airline as ...
Angry Birds maker Rovio needs new games to revitalise sales
HELSINKI (Reuters) - Rovio Entertainment, the maker of the "Angry Birds" mobile game, on Friday said the company needed to come up with new games to drive growth and warned that sales would fall this year after reporting higher third-quarter profits.
Thailand third-quarter growth seen slowing as tourism, exports cool
BANGKOK (Reuters) - Thailand's economic growth in July-September is expected to have slowed from the previous quarter, a Reuters poll showed, as softer exports and tourism offset a pickup in private consumption.
Jet Airways surge as Tata Sons deal talks inch closer
MUMBAI (Reuters) - Shares in Jet Airways Ltd surged for the fourth straight day on Friday to hit a near 5-month high, as a proposed acquisition of the debt-laden carrier by Indian conglomerate Tata Sons Ltd was likely to be inching towards a close.
Yes Bank falls 7% after Chawla resigns as non-executive chairman
Extending its loss for the second consecutive day, shares of Yes Bank dropped 7 per cent Friday on bourses after the private sector lender's non-executive chairman Ashok Chawla stepped down with immediate effect. After a negative opening on BSE, the scrip further declined 7.7 per cent to touch an intra day low of Rs 190.1. At 1300 hrs, the shares were being traded at Rs 190.65, down 7.45 per cent from the previous close. On the NSE also the scrip of the private bank continued to fall as it tumbled 7.6 per cent to Rs 190, its lowest during the afternoon trade. On Thursday, the private lender had plunged over seven per cent on the stock exchanges. In a regulatory filing on Wednesday, Yes Bank announced that Ashok Chawla, non-executive independent part-time chairman, had tendered his resignation from the bank's board, with immediate effect. Further, former SBI chairman O P Bhatt has resigned from the panel set up by Yes Bank to find a successor to its MD and CEO Rana Kapoor. The Reserve .
Dabur India Ltd soars 1.13%, Gains for third straight session
The stock is quoting at Rs 393.25, up 1.13% on the day as on 12:49 IST on the NSE. Dabur India Ltd is up 16.86% in last one year as compared to a 3.76% gain in NIFTY and a 13.02% gain in the Nifty FMCG index.
Rolls-Royce continuing with Brexit contingency plans: CEO
LONDON (Reuters) - British aero-engine maker Rolls-Royce said it was continuing with contingency plans as uncertainty grows on whether Prime Minister Theresa May's Brexit plan will receive parliamentary backing, echoing comments from other firms.
Jeera futures dip Rs 240 on profit booking
Jeera prices fell by Rs 240 to Rs 19,730 per quintal in futures trade Friday amid offloading of bets by speculators to book profits. At the National Commodity and Derivatives Exchange, Jeera for December was trading lower by Rs 240, or 1.20 per cent to Rs 19,730 per quintal with an open interest of 5,616 lots. Likewise, the spice for delivery in current month fell by Rs 125, or 0.64 per cent, to Rs 19,400 per quintal in 18 lots. Analysts said besides profit-booking by speculators, muted demand at the physical market against adequate stocks position exerted pressure on the prices.
Chana futures remain up on firm demand
Chana prices rose further by 0.35 per cent to Rs 4,568 per quintal in futures trade Friday as speculators indulged in expanding positions, powered by uptick in demand from dal mills in spot market. At the National Commodity and Derivatives Exchange, chana for delivery in December edged higher Rs 16, or 0.35 per cent, to Rs 4,568 per quintal with an open interst of 38,210 lots. The commodity for delivery in January next year also ained Rs 14, or 0.31 per cent, to trade at Rs 4,572 per quintal in 9,880 lots. Marketmen said the persistent rise in chana prices at futures trade was mostly on the back of widening of bets by participants due to robust demand form dal mills in the spot markets.