Page 2248 - Business Finance
Tesla secures Shanghai site for $2 billion China Gigafactory
BEIJING (Reuters) - Tesla Inc has signed an agreement with the Shanghai government for an 860,000 square metre plot of land to build its first overseas Gigafactory, the electric carmaker said in a Chinese social media post on Wednesday.
Sensex succumbs to profit-booking, tanks 383 pts
Surrendering early gains completely, the benchmark Sensex Wednesday fell 383 points to end below the 35,000-mark in highly volatile trade, breaking three sessions of gains as investors booked profits amid caution ahead of Reliance Industries' second quarter earnings. The flagship index swung nearly 880 points both ways on alternate bouts of buying and selling during the session. Sentiments also hurt by liquidity concerns that dragged down non-banking financial stocks. Overall sentiment was cautious as investors were on a wait-and-watch mode ahead of financial results from Reliance Industries, to be released later in the day, brokers said. After a gap up opening at 35,543.38 points, the Sensex advanced to hit a high of 35,605.43 points in early trade on the back of better-than-expected Q2 earnings posted by tech major Infosys on Tuesday. However, emergence of selling by investors across-the-board, mostly of a profit-booking nature, gave up session's gain to hit a low of 34,727.16 in ...
Voting now open for Intuit QuickBooks Global Firm of Future Contest 2018
Intuit Inc. has opened the polls for voting in its 2018 Intuit QuickBooks Global Firm of the Future contest. The public vote, which closes on October 31, will determine which of the contest's five finalists - Wealth Cafe Business Advisors Pvt. Ltd the first ever Intuit QuickBooks Firm of The Future finalist from India along with Cloud Bookkeeping Services, PJCO, Reconciled or Regional Business Services Ptd. Ltd - will be named the grand prize winner.Representing India, Canada, the United Kingdom, the United States, and Australia respectively, these forward-thinking firms represent some of the top accounting firms from around the world, having embraced online technologies to grow their practices and help their small business clients succeed and prosper.During the voting period, Intuit invites the public to visit the Firm of the Future contest website and vote once per day for the firm that they feel best embodies the Firm of the Future. For every vote and social share that takes place,
NMDC announces production and sales of iron ore up to Sep 2018
Total Production up to 30 September 2018 - 12.21 million tonnes Chhattisgarh - 7.50 million tonnes Karnataka - 4.71 million tonnes
Australia Market extends gain on upbeat offshore lead
Shares of materials and resources companies traded lower, with BHP Billiton down 0.7% at A$33.66 as global miner BHP cut its fiscal 2019 guidance for copper production, citing outages at key mines. BlueScope Steel shares fell 3.4% to A$15.20 after the company announced it had bought a 15.8% stake in New Zealand-based Steel & Tube Holdings, although it ruled out taking over the company.
Aditya Birla Money consolidated net profit rises 62.76% in the September 2018 quarter
Sales rise 9.81% to Rs 43.11 crore
Aditya Birla Money standalone net profit rises 49.30% in the September 2018 quarter
Sales rise 9.46% to Rs 41.55 crore
M&M, Ford extend alliance to powertrains, connected mobility
The Mahindra group and Ford Motor Wednesday strengthened their ongoing strategic alliance by signing two new agreements, under which they will jointly develop connected vehicle solutions and the domestic firm will supply powertrains to the American firm's domestic unit. The definitive agreements on powertrain sharing and connected car solutions reinforce the progress made in the strategic alliance between the two companies, first announced in September 2017 and followed up with five agreements in March 2018. "Under the definitive agreement on powertrain sharing, Mahindra will develop and supply a low-displacement petrol engine to Ford India for use in its present and future vehicles, starting in 2020. "The BS-VI compliant powertrain will help Ford extend and strengthen its existing offering of petrol engines, that currently includes the all-new three-cylinder TiVCT family," Mahindra and Mahindra (M&M) said in a statement Wednesday, adding the agreement on connected .
Punjab cabinet approves hike in stamp duty rates to mobilise resources
In a move to mobilise additional resources for the state, the Punjab Cabinet on Wednesday approved an Ordinance to amend Schedule 1-A of Indian Stamp Act, 1899, to enable increase in the stamp duty rates.Stamp duty rates for 17 items stand to double following the amendment, which the Cabinet found to be essential to boost the revenue receipts of the state. Punjab currently raises Rs 50 crore from stamp duty, which would go up by Rs. 100-150 crores with the increase in rates.The Cabinet, under the chairmanship of Chief Minister Captain Amarinder Singh, noted that the new rates were higher than those of neighbouring Haryana but found it imperative to increase the rates to generate the much-needed revenue for the state. The Cabinet also noted that the last revision in the rates was done in 2009.The Ordinance would now be sent to the Legal and Administrative Affairs Department for its finalisation and later to Punjab Governor for its approval.In another decision, the Cabinet gave its ...
ASOS shares bounce back as firm eyes 'huge' prize
LONDON (Reuters) - The potential for British online fashion retailer ASOS is "huge" as the shift to internet shopping accelerates, the company said on Wednesday, sending its shares soaring as it beat profit forecasts and flagged years of double-digit sales growth.
BHP Billiton says it has seen no material impact from trade tensions
(Reuters) - BHP Billiton has not seen a material impact from current global trade tensions on its business but remains cautious in the near term, the world's biggest miner said on Wednesday.
Stamp duty rates of 17 items set to increase in Punjab
The Punjab Cabinet Wednesday approved an ordinance to amend Schedule 1-A of the Indian Stamp Act, 1899, to enable increase in stamp duty rates. Stamp duty rates for 17 items will double following the amendment, which the Cabinet found to be essential to boost the revenue receipts of the state, an official spokesperson said here. The Cabinet, under the chairmanship of Chief Minister Capt Amarinder Singh, noted that the new rates were higher than those of neighbouring Haryana but found it imperative to increase the rates to generate the much-needed revenue for the state. Punjab raises Rs 50 crore from the stamp duty, which would go up by Rs 100-150 crore with the increase in rates. The Cabinet also noted that the last revision in the rates were done in 2009, the spokesperson said. The ordinance would now be sent to the legal and administrative affairs department for its finalisation and later to Punjab Governor for his approval.
Indiabulls Housing Finance Ltd leads losers in 'A' group
Dewan Housing Finance Corporation Ltd, Dilip Buildcon Ltd, Indiabulls Real Estate Ltd and Edelweiss Financial Services Ltd are among the other losers in the BSE's 'A' group today, 17 October 2018.
NIIT Technologies consolidated net profit rises 59.21% in the September 2018 quarter
Sales rise 23.09% to Rs 907.40 crore
NIIT Technologies standalone net profit rises 15.32% in the September 2018 quarter
Sales rise 15.83% to Rs 485.20 crore
Danske Bank ditches CEO candidate after regulator rejection
COPENHAGEN (Reuters) - Danske Bank, reeling from a money laundering scandal, suffered another setback on Wednesday when the Danish financial regulator rejected its candidate for chief executive on the grounds that he lacked sufficient experience.
Market hits fresh intraday low
The market extended losses and hit fresh intraday low in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was down 119.65 points or 0.34% at 35,042.83. The Nifty 50 index was down 60.10 points or 0.57% at 10,524.65.
NBFCs shares tumble
The Sensex and the Nifty firmed up once again in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was up 150.65 points or 0.43% at 35,313.13. The Nifty 50 index was up 26.05 points or 0.25% at 10,610.80. Shares of auto and non-banking financial companies came under selling pressure.
Market breadth turns negative
Key benchmarks further pared gains in mid-morning trade. At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 160.38 points or 0.46% at 35,322.86. The Nifty 50 index was up 24.85 points or 0.23% at 10,609.60.
Market sharply pares gains
After a rousing start, the market sharply pared gains in morning trade. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 215.54 points or 0.61% at 35,378.02. The Nifty 50 index was up 47.70 points or 0.45% at 10,632.45.