Page 2224 - Business Finance
Hong Kong Stocks rebound on firm Mainland cues
In a move to shore up investor sentiment ahead, the governor of the People's Bank of China said on Friday that China's current equity valuations are not in line with sound economic fundamentals, and that the bank will roll out targeted measures to help ease firms' financing problems and encourage commercial banks to boost lending to private firms.
Procter & Gamble posts surprise sales rise, profit beats
(Reuters) - Procter & Gamble Co reported a surprise rise in first-quarter sales on Friday on strong demand for its beauty products and cleaning supplies, helping it in its fight against competition from cheaper store-branded products.
Britain posts smaller-than-expected budget gap, in boost for Hammond
LONDON (Reuters) - Britain's government recorded a smaller budget deficit than expected in September, but the improvement is unlikely to give much help to finance minister Philip Hammond as he prepares his annual budget.
RBI eases bank lending limits to some non-banking finance firms
MUMBAI (Reuters) - The Reserve Bank of India on Friday eased lending norms related to certain non-banking finance companies (NBFCs) as liquidity concerns in the sector persist and markets continue to question the viability of some of the firms following the IL&FS debacle.
Mindtree shares slump over 16%, m-cap falls by Rs 2,593 crore
Shares of IT firm Mindtree cracked over 16 per cent Friday despite the company posting robust earnings in the September quarter. The scrip settled at Rs 821, registering a sharp fall of 16.13 per cent on the BSE. Intra-day, it tanked 17.79 per cent to Rs 804.75. On the NSE, shares of the company dropped 16.22 per cent to close at Rs 819.30. The company's market valuation fell by Rs 2,593.05 crore to Rs 13,479.95 crore on the BSE. In terms of the equity volume, 4.87 lakh shares of the company were traded on the BSE and over 88 lakh shares changed hands on the NSE during the day. Trading sentiment in the stock was hit as the company maintained a cautious business outlook amid volatile macroeconomic scenario across the world. "We sense a cautious and a volatile macroeconomic scenario in the world and that will pose some challenges to the business environment. In addition, Q3 has a regular seasonality factors as well. Inspite of these headwinds, we are confident that we have a very strong
No room at the inn: Central Europe student housing crunch attracts investors
WROCLAW, Poland (Reuters) - Wroclaw's hulking Soviet-era public dormitories held little appeal for Odysseas Savvas when he moved to the Polish city from Greece to study business at university. Instead, he opted for his own room and bathroom in a newly built private residence.
Swiss banks court rich Americans a decade after tax drama
ZURICH (Reuters) - Ten years after a booming business with discretion-minded U.S. clients cost Swiss banks billions of dollars and put an end to Swiss banking secrecy, the world's private banking hub is looking to reestablish ties with American customers.
India's festival demand of gold dims as price rally bites
MUMBAI/BENGALURU (Reuters) - A key festival brought little activity to the physical gold market in India this week as purchases remained significantly lower than normal with domestic prices jumping to the highest in more than two years.
Nafed to boost onion supply in Delhi; Mother Dairy asked to cut price
To check rising onion prices, the Centre Friday directed co-operative Nafed to boost supply in the national capital from the buffer stock and also asked Mother Dairy to reduce the rates by Rs 2 per kg on the kitchen staple in all its Safal outlets. A decision in this regard, was taken in a high-level meeting chaired by Consumer Secretary Avinash K Srivastava, called to review the price and supply situation of onion with concerned stakeholders. Currently, retail onion prices in the national capital are ruling in the range of Rs 30-40 per kg on tight supplies, as per the trade data. "Arrivals of kharif crop is expected to increase significantly within a week. This would improve availability in consuming areas, thereby, helping moderate prices," the ministry said in a statement. Meanwhile, it was decided in the meeting that onion supplies in Delhi from the buffer stock under the Price Stabilisation Fund (PSF) should be increased by 2-3 times from the current level so as to tide over any .
Sasan Power wins arbitration award against North American Coal Corporation
NACC's claim of ~US$ 32 million (~ Rs. 235 crore) consisting of liquidated damages, interest and legal cost has been dismissed.
Procter & Gamble's first-quarter sales beat estimates
(Reuters) - Procter & Gamble Co reported better-than-expected first-quarter sales on Friday, boosted by strong demand for beauty and home care products.
China's economic growth slumps to lowest since 2009
China's economic growth slumped to its lowest since 2009 as it grew by 6.5 per cent in the third quarter from a year earlier.
Atlas Copco sends chills through industrial sector with third-quarter miss
STOCKHOLM (Reuters) - Sweden's Atlas Copco reported lower than expected third-quarter order intake on Friday due to weaker demand in its vacuum gear business and forecast softer overall demand in the final months of the year, sending its shares tumbling.
ACC shares plunge over 7% after September qtr results
Shares of cement maker ACC Friday plunged over 7 per cent after the company's September quarter earnings failed to meet investors expectations. The stock dropped 7.32 per cent to end at Rs 1,427.20 on the BSE. Intra-day, it tumbled 8.30 per cent to Rs 1,411.95. On the NSE, shares of the company dived 7.29 per cent to settle at Rs 1,427.40. The company's market valuation dropped Rs 2,116 crore to Rs 26,801 crore on the BSE. ACC Wednesday reported 15.20 per cent increase in its consolidated net profit at Rs 209.14 crore for the third quarter ended September 30, led by volume growth spurred by higher demand. The company, which follows January-December fiscal, had posted a net profit of Rs 181.53 crore during the year-ago period, ACC said in a BSE filing. Total income from operations was up by 10.35 per cent to Rs 3,465.92 crore as against Rs 3,140.76 crore in the September quarter of 2017.
Nifty October 2018 futures at premium
Turnover in the F&O segment declines
Wall Street Weekahead: With market on edge, investors look to tech trio
SAN FRANCISCO (Reuters) - The pressure is on for Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street's rally.
RIL shares fall over 4%; m-cap drops by Rs 29,945 cr post Q2 results
Shares of Reliance Industries Friday ended over 4 per cent down, wiping out Rs 29,945 crore from its market valuation, despite the company reporting its highest ever quarterly net profit in the July-September quarter. The blue chip stock plunged 6.59 per cent to Rs 1,073.15 in intra-day trade on BSE. Later, it closed the day at Rs 1,101.65, a fall of 4.11 per cent. At NSE, shares of the company settled 4.42 per cent lower at Rs 1,100.30. Due to the plunge in the stock price, the company's market valuation declined Rs 29,944.97 crore to Rs 6,98,278.03 crore on BSE. In terms of equity volume, 14.61 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day. The stock was the biggest drag for the BSE benchmark index, which slumped 463.95 points to close at 34,315.63. Reliance Industries Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore in July-September as record earnings from petrochemical business and bumper ...
Norway's wealth fund should stay in central bank, government says
OSLO (Reuters) - Norway's $1 trillion sovereign wealth fund, the world's largest, should remain a unit of the central bank, the government said on Friday.
Benchmarks tumble amid negative global cues
The domestic market dropped for a second straight session on Friday, dragged by selling in index heavyweight Reliance Industries, HDFC and Infosys. Negative global cues weighed on market sentiment.
Quick Wrap: Nifty IT Index falls 3.16%, NIFTY Crashes 1.43%
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