Page 2251 - Business Finance
ASML beats Q3 profit expectations, sees good 2019
AMSTERDAM (Reuters) - ASML Holding NV on Wednesday reported a rise in third-quarter earnings that should ease scepticism over prospects for the semiconductor market, as it said demand for memory and logic chips remains healthy and it expects further growth in 2019.
Infosys shares gain nearly 4% post Q2 results
Shares of Infosys rose by nearly 4 per cent Wednesday after the company posted a better-than-expected 10.3 per cent net profit growth in the second quarter. The scrip after a positive opening further gained 3.53 per cent to Rs 721 on BSE. At NSE, shares of the company went up by 3.81 per cent to Rs 721.80. In terms of equity volume, 5.45 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning trade. Sanjeev Hota, AVP Research at Sharekhan by BNP Paribas, said Infosys had delivered "better than expected numbers on topline and bottomline front for second quarter, though margins performance missed the mark". The India's second-largest software services exporter Infosys Tuesday posted a better-than-expected 10.3 per cent net profit growth in the second quarter after margins were boosted by large deal wins and reiterated its revenue forecast for full year. Net profit in July-September rose to Rs 4,110 crore, or Rs 9.45 per share, from
Adani, Total join hands to set up retail network, LNG terminal
India's largest infrastructure conglomerate Adani Group and French energy giant Total SA Wednesday announced a partnership to develop liquefied natural gas (LNG) import terminals and fuel retailing network in India. Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement. While the two firms did not indicate details of the deal, including how much stake Total was picking up, sources privy to the development said the agreement signed was a preliminary collaboration pact and details would be announced later. Also, Total is eyeing a stake in city gas distribution projects of Adani but talks are stuck on valuation. "Adani and Total have signed an agreement to jointly develop ...
Turmeric futures surge 0.46 pc on spot demand
Turmeric prices were trading up by 0.46 per cent to Rs 6,526 per quintal in futures trade Wednesday as participants built up fresh positions, mainly driven by uptick in domestic and export demand in the spot market. Besides, limited arrivals from major producing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in December month was trading higher by Rs 30, or 0.46 per cent, to Rs 6,526 per quintal with an open interest of 1,195 lots. Similarly, the spice for delivery in November month increased by Rs 18, or 0.28 per cent, to Rs 6,526 per quintal, in an open interest of 12,490 lots. Analysts said fresh positions created by participants following pick up in domestic as well as export demand in the spot market against restricted supplies from producing regions mainly pushed up turmeric prices in futures trade.
Chana futures slide 0.34% on profit booking
Chana prices declined by 0.34 per cent to Rs 4,084 per quintal in futures market Wednesday as speculators booked profits amid ample stocks position at the spot market against low demand. At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 16, or 0.34 per cent, to Rs 4,084 per quintal with an open interest of 43,980 lots. Likewise, the commodity for delivery in December shed Rs 11, or 0.27 per cent to Rs 4,102 per quintal in 10,680 lots. Marketmen said besides profit booking by traders at existing levels, fall in demand in physical market against adequate stocks position on increased arrivals from producing belts mainly attributed the slide in chana prices at futures trade.
ASML posts Q3 profit slightly above expectations, sees good 2019
AMSTERDAM (Reuters) - ASML Holding NV on Wednesday reported quarterly net profit slightly ahead of analysts' expectations and said it expects to grow more in 2019 as demand for both memory and logic chips remains healthy.
Indian rupee now at 73.41 versus the US dollar
The Indian Rupee on Wednesday opened at 73.41 per dollar.Yesterday, the rupee had climbed 37 paise to close at 73.46 against Monday's close of 73.83 per dollar.The Rupee has been witnessing a downward trend owing to rising crude oil rates in the international market.This surge has also contributed to a hike in fuel prices across the country. Fuel prices have been rising due to various reasons including rapid fall in rupee, high excise duty and surging crude oil prices.However, fuel prices remained unchanged today. In New Delhi, petrol and diesel are retailing at Rs 82.83 per litre and Rs 75.69 per litre, respectively, same as the Tuesday's price. In Mumbai, petrol is being sold at Rs 88.29 per litre, while diesel is retailing at Rs 79.35 per litre.
Global Markets: Asia shares echo Wall Street cheer, China more muted
SYDNEY (Reuters) - Asian equities got some welcome relief on Wednesday after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.
Upsurge in demand lifts mentha oil by 0.39%
Mentha oil prices went up by 0.39 per cent to Rs 1,715 per kg in futures trade Wednesday after participants raised their bets on uptick in demand from consuming industries at the spot market against restricted supplies from producing belts. At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 6.60, or 0.39 per cent, to Rs 1,715 per kg in a business turnover of 932 lots. Marketmen said widening of positions by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Copper futures slide 0.17 pc on low spot demand
Copper prices fell by 0.17 per cent to Rs 451.80 a kg in futures trade Wednesday as participants engaged in cutting down their exposure amid low demand at the domestic spot markets. At the Multi Commodity Exchange, copper for delivery in November eased by 75 paise or 0.17 per cent to Rs 451.80 per kg in a business turnover of 12,076 lots. The fall in copper prices at futures trade was mostly attributed to trimming of positions by participants due to subdued demand at the spot markets, analysts said.
Silver futures fall Rs 72 per kg
Silver prices were down by Rs 72 to Rs 38,792 per kg in futures trade Wednesday after speculators reduced their exposure in sync with a weak trend overseas. Silver for delivery in December was trading lower by Rs 72, or 0.19 per cent, at Rs 38,792 per kg in a business turnover of 23,444 lots at the Multi Commodity Exchange (MCX). In the international market, silver fell 0.31 per cent to USD 14.69 an ounce in Singapore Wednesday. Market analysts said, trimming of positions by participants to book profits amid muted global cues mainly led to a fall in silver prices at futures trade here.
Crude oil futures up 0.11 pc on Asian cues
Crude oil rose 0.11 per cent to Rs 5,288 per barrel in futures market Wednesday as speculators created fresh positions, taking positive cues from Asian markets. At the Multi Commodity Exchange, crude oil for delivery in October contracts rose by Rs 6, or 0.11 per cent to Rs 5,288 per barrel in a business turnover of 8,340 lots. Crude to be delivered in December month contracts also gained Rs 5, or 0.09 per cent, at Rs 5,287 per barrel in 7,982 lots. Analysts said, speculators built positions after oil prices rose in global market as industry data showed a surprise decline in US crude inventories, giving lift to crude oil prices in futures trade here. Meanwhile, West Texas Intermediate gained 0.14 per cent to USD 72.02 while Brent crude rose 0.04 per cent to USD 81.44 per barrel.
Fujifilm wins appeal in battle with Xerox over scrapped merger
TOKYO (Reuters) - Fujifilm Holdings Corp has won an appeal in its legal battle with Xerox Corp, with a U.S. court overturning preliminary injunctions requested by activist investors that had blocked a planned merger.
Markets open high on Wednesday
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.
Adani, Total sign pact to develop LNG terminal, retail network
Adani Group Wednesday announced signing of an agreement with French energy giant Total for Liquefied Natural Gas (LNG) import terminals and fuel retail network. "Adani and Total have signed an agreement to jointly develop multi-energy offerings to the Indian energy market," a joint statement issued by the two companies said. Total, the world's second largest LNG private player, and Adani, the largest infrastructure conglomerate in India, will serve the fast growing gas demand of the Indian market. "The partnership has set a target of developing various regasification terminals, including Dhamra LNG, on the East coast of India," it said. Total and Adani will create a joint venture to build a retail network of 1,500 service stations over the period of 10 years.
Adani Group, Total partner for LNG projects
(Reuters) - Resources conglomerate Adani Group and French energy giant Total SA have signed a deal to expand into India's Liquefied Natural Gas (LNG) and fuel retail market, the companies said on Wednesday.
Market jumps on positive global cues
Key benchmark indices jumped in early trade, tracking positive leads from Asian markets and overnight rally on the Wall Street. At 9:19 IST, the barometer index, the S&P BSE Sensex, was up 347.98 points or 0.99% at 35,510.46. The Nifty 50 index was up 96.50 points or 0.91% at 10,681.25.
Aurionpro Solutions to acquire majority stake in Singapore based SC Soft
Acquisition aimed at strengthening Aurionpro's presence in AFC systems
Adani partners with Total to provide multi-energy offering to Indian energy market
The partnership has set a target of developing various regasification terminals including Dhamra LNG, on the East coast of India. Most essentially it would be a big stride towards India's vision of achieving a healthier energy mix through promotion of LNG.
Oil prices edge up on surprise drawdown in U.S. crude stockpiles
TOKYO (Reuters) - Oil prices extended gains into a fourth session on Wednesday, buoyed as industry data showed a surprise decline in U.S. crude inventories and as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries.