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Page 2134 - Business Finance

Earnings, rupee, global trend to drive stock markets this week: Experts

The ongoing quarterly results season, macroeconomic data announcements and movement of the rupee will determine the stock market trend this week, say experts. Volatility in the global markets may also play a key role, they added. "The market has been correcting in the last two months and in the near-term considering the technical factors, we are bound to see some relief. Earnings season will gather pace in the coming weeks and as market participants will be keen on comparing consensus earnings with actual which will dictate the market momentum. "And if the global volatility continues, investors will be more focused on haven assets like gold and bonds," said Vinod Nair, Head of Research, Geojit Financial Services. Blue-chips such as Bank of Baroda, Tech Mahindra, Adani Power, Canara Bank, Lupin, Tata Motors, HDFC, Axis Bank, NTPC and PNB are slated to report their quarterly earnings this week. "While the market has corrected and valuations have come down close to reasonable levels, and

Updated On : 28 Oct 2018 | 10:50 AM IST

SME IPO fundraising nearly doubles to Rs 1,281-cr in Apr-Sep

Small and medium enterprises (SMEs) raised Rs 1,281 crore through initial share-sales in April-September period of the current fiscal, registering a nearly two fold jump from the year-ago period. Funds raised through IPOs were meant for business expansion plans, working capital requirements and other general corporate purposes, according to offer documents. A total of 74 companies got listed with initial public offers (IPOs) worth Rs 1,281 crore in the first six months of the ongoing fiscal, compared to 58 firms which tapped the IPO route to garner Rs 656 crore in the same period last financial year, as per the data provided by merchant bankers. These companies are listed on SME platforms of BSE and NSE. "With companies listed on SME platform becoming more established, investor base is also getting broadened. Moreover with increasing number of SME stocks and greater returns thereon, more and more investors are getting attracted for SME investing," financial services advisory Pantomath

Updated On : 28 Oct 2018 | 10:25 AM IST

Fuel prices continue to tumble on Sunday

Fuel prices continued to witness a downfall on Sunday, providing much-needed relief to consumers from the relentless rate hikes in recent months.The petrol and diesel prices in Delhi have been revised to Rs 80.05 (decrease by 40 paise) and Rs 74.05 (decrease by 33 paise) per litre respectively. Meanwhile, in Mumbai also, the fuel prices witnessed a marginal decline with petrol at Rs 85.54 per litre (decrease by 39 paise) and diesel at Rs 77.61 per litre (decrease by 35 paise).The fuel prices had been witnessing a relentless hike since the past few months in the country, burning a hole in the common commuter's pocket.Looking at the situation, Union Finance Minister Arun Jaitley on October 4 announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre. He further urged the state governments to reduce the same amount from their end.

Updated On : 28 Oct 2018 | 10:20 AM IST

'Won't be dependent on just petroleum products in the future'

Union Minister of Petroleum and Natural Gas Dharmendra Pradhan on Saturday said that India will not remain dependent on just petroleum products in near future as the country has already started looking for its alternatives.While addressing the Bharatiya Janata Yuva Morcha (BJYM) here, Pradhan raised the issue of fuel prices and said, "I do understand the problems faced by party workers over the questions from the Opposition and common people regarding hike in petrol and diesel prices. We had promised to the people of India that we will not push our country into debt. That is the reason why we have taken some burden on ourselves and reduced the fuel prices by Rs 2.50 paise per litre and asked state governments to reduce the same amount from their end also."Pradhan added that "oil prices are not related to the Indian market." "It's an international commodity. We have to sell them on the basis of their prices in the international market. Under Prime Minister Narendra Modi's vision we ...

Updated On : 28 Oct 2018 | 5:15 AM IST

Iran offers oil to private sector to counter US sanctions

Iran will offer crude oil to the private sector for export ahead of the US sanctions on its energy sector set to take effect on November 4, Financial Tribune daily reported Saturday.

Updated On : 28 Oct 2018 | 2:40 AM IST

IBC helping banking sector clean up bad loans: Jaitley

Union Finance Minister Arun Jaitley on Saturday said the Insolvency and Bankruptcy Code (IBC) is helping the banking sector of the country in cleaning up bad loans, adding that the fear of the IBC has made defaulters approach their respective banks to clear their dues.Addressing a gathering at the third anniversary of the IDFC Bank here, Jaitley said "The whole nature of banking is changing. The Insolvency and Bankruptcy Code (IBC) is helping the banking sector in cleaning up bad loans. The fear of IBC has made defaulters approach their bank to clear their all dues."On July 31, the Lok Sabha had passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018.The amendments will protect the interest of home buyers by treating them as financial creditors, which will make it easier for them to recover their investments.

Updated On : 27 Oct 2018 | 11:15 PM IST

Government need to be on toes to meet challenges: Jaitley

Asserting the importance of banking as Indian economy gets more formalised, Finance Minister Arun Jaitley on Saturday said the regulator and the government need to be on their toes for quick action without exaggerating the emerging challenges.

Updated On : 27 Oct 2018 | 10:30 PM IST

S Korea will open banks after lifting of N Korea's sanctions

A top South Korean financial regulator has said that Seoul will only open bank branches in North Korea after international sanctions are lifted in return for concrete steps by Pyongyang to discontinue its nuclear weapons programme and achieve complete denuclearisation.Chairman of the Financial Services Commission (FSC) Choi Jong-ku was quoted by Yonhap News Agency as saying that the two Koreas have not held talks on financial cooperation with North Korea."Opening bank branches in North Korea will be possible only after conditions are met," he remarked during an audit meeting.Quoting sources, various South Korean banks have been ordered by the US Treasury Department to comply with sanctions on North Korea.The Treasury Department has warned the state-run Korea Development Bank, Industrial Bank of Korea, Kookmin Bank, Shinhan Bank and Nonghyup Bank against conducting business activities with Pyongyang till it achieves complete denuclearisation.While North Korea, on the one hand, ...

Updated On : 27 Oct 2018 | 9:31 PM IST

Tesla's Elon Musk says tweet that led to $20 million fine 'Worth It'

(Reuters) - Tesla Inc Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the U.S. Securities and Exchange Commision was "Worth It".

Updated On : 27 Oct 2018 | 9:25 PM IST

Stocks mark 2nd weekly fall in a row amid fund outflows (Market Review) (Lead correcting figures in para 7,8)

Indian stock indices fell for a second straight week, as a subdued start to the earnings season and weakness in asian markets worsened investor sentiment.

Updated On : 27 Oct 2018 | 9:10 PM IST

India's first weightlifter-brand ambassador Satish endorses Dumbell fitness wear

Signing Commonwealth gold medal winner weightlifter Satish Kumar Sivalingam as its brand ambassador for its Dumbell brand fitness wear, 'A Square Garments' is set to take global the brand with a JV partner, said a top company official.

Updated On : 27 Oct 2018 | 8:10 PM IST

Better cooperation between commerce and agri ministries to help boost exports: APEDA

Agricultural and Processed Food Products Export Development Authority (APEDA) Saturday called for better cooperation between the ministries of commerce and agriculture to boost agri-exports. APEDA is a statutory body under the Ministry of Commerce. "An integrated approach and better cooperation is needed among the two union ministries for boosting agriculture production and exports," it said in a statement. The increasing cooperation would also help boost agri-exports to USD 60 billion by 2022 from the current USD 38 billion, it said. APEDA works to promote export of various agricultural commodities and provides a platform to showcase India's quality produce to the global market. The Commerce Ministry is expected to soon come out with an agriculture export policy.

Updated On : 27 Oct 2018 | 7:15 PM IST

Telecom equipment makers have committed over Rs 4,000 cr investments at IMC: Sinha

Telecom gear makers have committed to invest over Rs 4,000 crore at the India Mobile Congress, Communications Minister Manoj Sinha said Saturday. "We were expecting investment of Rs 2,000 crore but companies have committed investment of over Rs 4,000 crore during our discussions at India Mobile Congress (IMC)," Sinha told reporters here. The minister said major investment commitment has come from Ericsson, Samsung, Sterlite Tech, Cisco, Nokia and Intel. "The National Digital Communications Policy has just been announced and these are the first set of investments flowing in," Sinha said. He said discussions and announcements at IMC show that India is ready for the emerging 5G services. The 5G technology would facilitate machine-to-machine communication and has multiple usages. "The investments will be made over a period of next one-two years," Telecom Secretary Aruna Sundararajan said. Talking about IMC, Sinha said this will become an annual event. "Estimates that have been shared with

Updated On : 27 Oct 2018 | 6:55 PM IST

Moglix fastest-growing tech firm in India: Deloitte

Noida-based business-to-business e-commerce firm Moglix has emerged as the fastest growing technology company in India, according to a Deloitte report on Saturday.

Updated On : 27 Oct 2018 | 6:40 PM IST

HT Media Q2 net loss at Rs 38.83 cr

HT Media Saturday reported consolidated net loss of Rs 38.83 crore for the second quarter ended September, 2018. The company had posted net profit of Rs 76.68 crore in the July-September quarter a year ago, HT Media said in a BSE filing. Its total income during the quarter under review stood at Rs 566.24 crore, as against Rs 596.95 crore in the corresponding quarter of previous fiscal. HT Media's total expenses stood at Rs 591.85 crore, in the second quarter of this financial year. The company reported an exceptional loss of Rs 23.90 crore during the July-September quarter of this year. During the quarter, HT Media's revenue from 'Printing & Publishing of Newspapers & Periodicals' was at Rs 447.57 crore and Rs 46.61 crore from Radio Broadcast & Entertainment.

Updated On : 27 Oct 2018 | 6:35 PM IST

Over 1,000 investors attend conference in S Africa; pledge USD 20 bn

Over 1,000 investors, including from India, participated in a conference in South Africa as part of a USD 100 billion investment drive announced by President Cyril Ramaphosa in April. During the conference, the business investors pledged to invest USD 20 billion in South Africa in the next five years. The investments pledged were in various sectors like mining and automobile manufacturing. Investment commitments in the mining sector were led by mining giants Anglo American which committed to invest 71.5 billion Rands, followed by India's Vedanta Resources that pledged to invest 21.4 billion Rands. The automobile manufacturing sector made joint commitments to invest more than 40 billion Rands over the next five years. Representatives of BMW, Mercedes Benz, Ford, Isuzu, Nissan and Volkswagen took to the stage to sign a pledge which was then presented to Ramaphosa. "There have been accusations that South Africa is on an investment strike. Today maybe I can say the strike is over," ...